The Taylor Institute: Where DM Talent Grows
By Larry Zusman, worldwide marketing manager, XMPie, A Xerox Company
It seems a surprising place to have the premier direct marketing institute in a university setting, but if you have the good fortune to visit the University of Akron as I did Monday, that is exactly what you will find there.
There in a former warehouse, beautifully transformed into a San Francisco-style creative boutique, you will find an environment specifically designed for teaching, creating and implementing exciting, state-of-the-art direct marketing programs. Led by a team of people that have been doing these campaigns successfully for many years, and supported by the business faculty of the university, this is a quite an amazing facility already, and will be even more impressive when completed very soon.
I found out that the institute, although “housed” at the university, will be much more than a learning center. Rather, it will be a real-world (profit-making), think tank for the development of cutting-edge DM campaigns for companies of all sizes and types. You can think of it as a DM laboratory of sorts, where students will combine the newest 1:1 cross-media direct marketing tools with traditional approaches like focus groups, data profiling, telemarketing, video, and campaign analytics for optimizing results.
I had the opportunity to speak at the Interaction Conference yesterday to a few hundred “hungry” marketers looking for new ideas on how to market their products better, and sell more of them. There were some very interesting conversations at the breaks with marketers experimenting with new technologies to drive interest. One marketer, who directs the Museum of Akron, is planning on placing posters with QR codes at many venues around the city to drive interest in their exhibitions. Clearly, these types of strategies are showing continued growth among both profit and non-profit segments.
Other attendees were very interested in knowing more about how B2B and B2C marketers could use personalized URLs in print campaigns to leverage their use of the Web more effectively. There were other presentations as well, and these were excellent overviews of some of the best strategies for taking full advantage of cross-media marketing and social media. From my conversations at the event, marketers are seeking to learn more about how to use all the tools available to reach customers more effectively, and more directly.
Akron is a city undergoing lots of change – all of it for the good, I hear. Every year, the institute uses the Interaction Conference for a luncheon honoring those that have made a significant contribution to the DM world. I suspect that the Taylor Institute is just the type of garden where more of these talented individuals will bloom. What do you think?
Recap: Data Analysis and List Profiling for Higher Campaign Response
By Bruce Meberg, senior vice president of Business Development, USADATA, Inc.
In order to reach the right audience for direct marketing acquisition campaigns, companies need to know as much as possible about their customers. Appending additional fields of information to each customer record is a great first step. There are several great business elements (e.g., industry, company size) and hundreds of potential consumer elements available (e.g., age, income, gender, marital status, home owner, life stage cluster, interests, etc.). A life stage cluster is a group of households with similar demographic characteristics and propensity to buy certain products and services.
One approach to gaining insight into customers that provides much of the benefit of high-end custom models, but at a fraction of the time and cost, is to append life stage clusters to each record, then analyze which clusters are appearing in the customer file more than would be expected (based on the cluster’s average share within the target geography). The highest 10-20% (7 to 15) of “indexing” clusters from the profile analysis can then be used to select prospect lists for acquisition campaigns. Life stage clusters offer a simple (single dimension of 60 or 70 different segments) yet powerful method, since they are based on a pre-defined model that was created using advanced statistical methods.
Life-stage clusters, such as Personicx, also come with rich background information on each cluster, so it is possible to create a modified message or variable data images for each cluster. Analyzing campaign response is also simplified…just look for the clusters with the highest response rate and use this information to fine tune the next campaign. All in all, a great way to get started on the path to higher response rates and marketing return on investment!
USADATA is a cloud-based/Data-as-a-Service (DaaS) company that combines consulting, data and technology to help its customers improve direct marketing ROI. The company’s data neutral experts have access to all leading compiled databases and specialty lists, and help businesses find new customers more easily and cost effectively through a combination of data (mailing lists and sales leads), consultative support, and easy-to-use technology.
This was a short recap of a recent XMPie Customer 1to1 Webinar series session. For more information on this topic and to learn about special XMPie customer promotions, visit www.usadata.com/xmpie.