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  • admin 9:52 am on February 17, 2016 Permalink
    Tags: Browsers, , , Turn   

    How To Turn Browsers Into Buyers 

    Woman BuyingAs marketers, we need to attract the attention of individual consumers, and then ultimately, drive revenue by turning browsers into buyers. But in many ways, every step along the way is becoming increasingly difficult. In this Age of Distraction, where consumers are known to switch media platforms up to 27 times an hour, it’s all too easy for marketing to be ignored, overlooked as just part of the “noise.”

    What can you do to make your messages stand out? How can you turn more browsers into buyers? I suggest focusing on two areas: relevant, individualized content and data-driven solutions.

    Content

    For a good breakdown of ways to update your current mindset, check out Mark Schaefer’s recent post, Five reasons most content marketing is FAR behind where it needs to be. Mark uses what he learned at a conference on the future of technology and journalism at Columbia University’s Pulitzer Graduate School of Journalism to turn a critical eye on how content is currently being used to connect with customers. He concludes that the business world needs to step up its game… and quickly. If you compare the pace of change of content techniques, the business world is a sloth racing against mainstream journalism’s cheetah, he points out.

    One of your top priorities needs to be creating relevant, engaging content that helps you improve the customer experience and nurture customer relationships. As Mark writes:

    Nearly every day you can find this tired advice on the web: Companies need to be in the publishing business — that we need to “think like a media company.”

    Perhaps that was true three years ago but it’s not true any more. Sure, we might be lucky and get somebody to click on one piece of content … and maybe even read it. But how do we get them to COME BACK again?

    You need a content strategy that acknowledges customers as individuals and revolves around these three points: 1) Data to understand the customer; 2) Right content; 3) Right channel. That’s why it’s so important to have…

    Data-driven solutions

    When you’re data-driven, you gain insights by listening to the information your customers provide, and then you respond with the most relevant approach for their needs. Relevance is what makes you heard above the noise. It connects you with the individual. And it’s what works best at turning browsers into buyers.

    What pulls it all together, making this kind of approach possible? A Data Management Platform (DMP). A DMP lets you collect and analyze data about your customers from every touch point. It enables an integrated 360-degree view of all your data sources, including your own first party sources and third party sources, as well. Then, it allows you to use that information to accurately target your respective audiences across a variety of marketing channels.

    In addition, with the right DMP, you can optimize media buy and advertising creative in real time. (For more about the capabilities of our Data Management Platform, see this previous post or download our free guidebook, Data Management Plan (DMP) – The missing piece in your marketing puzzle.)

    The Age of Distraction is here, and all indications are, it’s here to stay. If you want to turn more browsers into buyers, make sure you have the tools you need for true two-way communication between your brand and the customers you’re trying to reach.

    The post How To Turn Browsers Into Buyers appeared first on Teradata Applications.

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  • admin 9:51 am on June 22, 2015 Permalink
    Tags: , , , , , Turn   

    Don’t Let Your Data Lake Turn into a Swamp 

    by Rick Stellwagen and Paul Barsch

    Q2-15_DataLakeenable smarter business decisions. However, the simple installation of a Hadoop cluster does not constitute a data lake. In fact, without following best practices, the investment will result in wasted time and money. 

    Manage from Start to Finish

    Imagine a single place in the enterprise where both transactional and multi-structured data types (Web logs, sensor data and other machine-to-machine communications) can be captured, stored and accessed. Also, in this same place, data can be profiled and reviewed before extensive modeling efforts occur so business insights can be gained more quickly.

    This hub of enterprise activity—where all data types can reside and be accessed for fast discovery—is called a data lake. It is primarily built on Hadoop because the technology has the ability to effectively scale in terms of volume, support higher data velocity and ingest all data types.

    Think Big, a Teradata company, has defined, implemented and managed data lakes for dozens of organizations while codifying best practices. By taking advantage of the practices outlined here, businesses can start their data lake initiatives effectively without spending time on rework and sorting through clutter.

    Think Big, Start Smart

    Developing a strategy and architecture is important to ensure big data success. The strategy does not need to take several months or years to complete. In fact, in as little as six weeks, Think Big can help a company identify and prioritize use cases, define an initial architecture, understand organizational readiness and decide which initiatives to launch first.

    And when it’s impractical to gather all the data owners to work on a strategy in a timely manner, Think Big offers a fixed-price starter service. This approach rapidly builds out two or three well-governed data streams to show business value quickly—without sacrificing a big data architecture and roadmap.

    This enables the creation of effective data management processes, ensuring that information propagated into the data lake is high quality and traceable. These processes can then serve as a foundation for discussions with other data stewards to promote expansion of the solution.

    Integrate Data Management Practices

    The well-known adage “garbage in, garbage out” also holds true for data lakes—some of which have turned into dumping grounds for corporate data. The idea that a tangled web of data can be useful for analysis without first considering and enforcing acceptable data management practices is a costly misconception. To provide tangible business value, careful attention must be given to how data is consumed, moved, tagged, transformed, managed, accessed and secured.

    Processes for data quality and metadata management must be established prior to bringing in the information. The journey to better quality starts by tracing both data and metadata from their sources. One example is to go beyond schema to include operational and business security metadata to enable proper governance.

    Metadata capture should be a continual process for good governance as the organization deploys profiling, masking, modeling and archiving techniques in its data lake. All points for access should be tracked and traced including how, when and who will use the information.

    Strive for Measurable Business Value

    For decades, the lion’s share of IT budgets has typically been dedicated to monitoring and maintaining technology systems rather than promoting innovation. Even though IT budgets are projected to increase slightly in the coming years, there is still not a lot of spend available for experimentation with new technologies.

    With this in mind, it’s extremely important for IT to set goals for showing measurable business value. For Hadoop-based data lake projects, follow these best practices:

    • Secure business sponsorship. Obtain a named leader and funding from one or more business units.
    • Commit to clear objectives. Work with the business to establish metrics and expectations not only for the project’s performance but also for what each group will do to achieve success.
    • Report regularly. Deliver results to sponsors and management every 60 to 90 days or other pre-arranged interval.

    With business committing to sponsorship and business objectives, and IT providing timely results and reporting, the project will be positioned as vital to both and more likely to stay on time and on track.

    Maintain Momentum

    There are many reasons why a data lake can fail. If it is not implemented correctly with data management, metadata capture, governance, security and a business focus, it could turn into a data swamp that costs millions and no one uses.

    An initiative that may span several million dollars should not be left to chance. By following the best practices of thinking big but starting smart, incorporating data management practices continuously and regularly reporting on business value, your data lake will continually fill, expand and benefit your company for years to come. 

    This article originally appeared in the Q2 2015 issue of Teradata Magazine.

    Rick Stellwagen is the Data Lake Program Director for Think Big, a Teradata Company. Paul Barsch directs marketing programs for Think Big.

     

     

    The post Don’t Let Your Data Lake Turn into a Swamp appeared first on Magazine Blog.

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  • admin 9:51 am on May 31, 2015 Permalink
    Tags: , Gray, Swans, Turn   

    Turn Black Swans Gray 

    by Alex Entrekin

    Based on a quick read of the daily headlines, black swan events—scenarios that surprise businesses and leave them reeling—seem to be occurring at a startlingly frenetic pace. No doubt this trend is the result of our increasingly interconnected and globalized world. Even an event that takes place thousands and thousands of miles away can have a far-reaching impact.

    Given the major changes in how people communicate, we know about such occurrences almost immediately. In some cases, such as the Arab Spring in 2010, social media played a major role in both covering and driving an event that toppled governments.

    Clearly, whether they’re man-made or caused by natural disasters, unforeseen disruptions pose troubling threats and challenges that must be addressed. 

    Predict the Unexpected

    The frequency of black swans can make one question whether these are truly unpredictable events. Maybe some are really gray swans—situations that can have the same type of impact as black swans, but occur more frequently and can be predicted to a certain degree.

    With the continued advances in big data usage and next-generation analytics, organizations have gained an unprecedented opportunity to identify and plan for these improbable but high-impact events. As recently as a few years ago, some businesses struggled to gather, integrate and analyze the necessary data to make informed decisions.

    Today, data is everywhere, coming in multiple forms (structured, unstructured, multi-structured) and from an increasing number of sources. This abundance of data, coupled with advanced analytics, opens the door to explore data in ways that were not previously possible. For example, visualization and predictive analytics now enable the discovery of new patterns, new insights and new threats.

    Reduce the Risk

    Based on the definition of black swans alone, we clearly cannot predict or plan for all types of unexpected events. However, the latest generation of technology offers advanced analytics and faster discovery techniques to quickly and effectively cut through the noise to find signals and trends. And that’s a huge opportunity to better prepare for and manage the impact of these events—and maybe even turn some of those black swans gray. 

    This article originally appeared in the Q2 2015 issue of Teradata Magazine.

    Alex Entrekin is the vice president of Enterprise Risk & Assurance Services for Teradata.

     

    The post Turn Black Swans Gray appeared first on Magazine Blog.

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  • admin 9:52 am on May 25, 2015 Permalink
    Tags: , , Csuite’s, , , , , , , Turn   

    It’s the C-suite’s turn: New studies show CEOs need to get into data-driven marketing 

    Conference RoomWhen I wrote Big Data Marketing in 2013, my goal was to get past all the hype and fear to open up the conversation about the benefits of data-driven marketing. Now, two years later, has the dialogue shifted? Are marketers becoming more data-driven?

    Results from the recent Teradata 2015 Global Data-Driven Marketing Survey indicate that marketers are eager to move beyond the status quo and use the technologies available to them to truly individualize marketing communications; however, there’s still plenty of room for improvement.  For instance:

    • 90 percent of the 1,500+ marketers we surveyed said that individualized marketing is a priority. But only 50 percent routinely apply data to individualize their messages and offers.
    • The number of companies utilizing data-driven marketing strategically has more than doubled (36 percent in 2013 vs. 78 percent today). But 44 percent reported that achieving consistency in omni-channel marketing remains a challenge.
    • 59 percent said faster decisions are a key benefit of using data, and 67 percent feel decisions involving data are more accurate. But 80 percent said silos within marketing itself prevent an omni-channel view of campaigns.

    What can companies do to keep moving forward?

    Another study Teradata conducted in partnership with The Economist Intelligence Unit found that the most important thing businesses can do is continuously evolve their data culture to become more customer-centric. That means CEOs need to remove their rose-colored glasses and start developing a shared data-driven vision, one that’s based on insights about the information and experience each customer wants.

    What’s the first step? Resolve misperceptions.

    Forty-seven percent of CEOs we surveyed believe all employees have access to the data they need, but only 27 percent of managerial respondents agreed. Similarly, CEOs were more likely than employees to think relevant data is captured and made available in real time (43 percent vs. 29 percent) and that employees extract relevant insights from data (38 percent vs. 24 percent).

    Our results showed that when those disconnects are resolved, the entire company benefits:

    • Among top performers—those from companies that “significantly” or “somewhat” outperform in profitability—63 percent said data initiatives are launched and driven by corporate leadership, and 41 percent have a centralized data/analytics group that introduces and implements data initiatives.
    • Data-driven companies are more likely to generate higher profits. They’re also twice as likely to report a culture of creativity and innovation, and they’re much more likely to reap benefits like greater collaboration and better quality and speed of execution.

    These two studies can help marketers identity the strategic pressure points for positive change. It’s time to narrow in on the C-suite and corporate data.

    This post originally appeared on the Economist Group’s Lean back blog.

    The post It’s the C-suite’s turn: New studies show CEOs need to get into data-driven marketing appeared first on Teradata Applications.

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  • admin 9:54 am on January 29, 2015 Permalink
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    It’s Time to Turn on Your Omni-Channel Marketing 

    WBy Janete Ribeiro, Professional Services Senior Consultant at Teradata Marketing Applications. Located in São Paulo, Brazil, Janete is the technical lead for Teradata Marketing Applications solution implementation throughout Latin America and the Caribbean.

    An omni-channel strategy is the new trend of retail marketing. This strategy focuses on emerging and traditional mediums of communication including internet, mobile, direct mail, TV, radio, physical stores, email, and self-service— virtually all forms of contact between a company and its customer.

    With an omni-channel strategy, a customer can receive the same type of offer via all channels. Imagine receiving an offer so individualized that it almost seems as if the brand knows your needs as a consumer, and can anticipate what you’re looking for. Imagine purchasing an item via one channel, like the mobile device, and all other channels recognizing that, and adjusting communication to you.

    In today’s world it is common for consumers to search for products or services on the internet, before purchasing. This practice, known as webrooming, is gaining popularity among today’s modern consumer, and serves as a direct threat to any company employing a well-meaning omni-channel marketing strategy.

    Teradata omni-channel marketing is the ideal integrated marketing solution to meet the demands of this new consumer, who goes to store already equipped with enough knowledge to make a purchase decision.

    With this shift in consumerism,  an effective omni-channel strategy depends on a high investment in technology, human resources and procedures in order to ensure the minimum requirements to be successful:

    • Central data acquisition process;

    • Central Data warehouse;

    • Analytical tools to identify the customer profiles and offers;

    • Generation of tools and distribution lists through multiples channels, ensuring that the customer experience is transparent through the various channels and the continuation of intra-channel offers;

    • Communications answers monitoring processes with customer in multiple channels, well defined, automatic resupply of updated customer’s information into database;

    • Integration of Marketing, IT and Sales teams (physical interaction channel with the client); and

    • Training of staff involved in the whole process of its strategy.

    According to an IDC Retail Insights study, purchases through omni channel “must provide a customer experience that is immersive and above all, scalable to every channel.” That’s what customers and retailers expect with this new channel strategy. They expect a “first class” service, something that can make the buying process a pleasant customer experience in all channels.

    By Using this strategy and supporting it with software to enable marketers to monitor the customer experience across multiple channels, these companies will be able to anticipate customer needs and serve them better and better, responding to inquiries about products and offers with real time marketing.

    The challenge an omni-channel marketing strategy presents is collecting and using all relevant customer data to inform inbound and outbound communication

    In this scenario, it becomes increasingly important to invest in information storage planning and data warehousing. Developing a sound technological  infrastructure, design process and trained human resources for each channel strategy will help to ensure your strategy runs fully and transparently.

    Forrester Research conducted studies regarding some market solutions for this purpose. It determined that companies that have adopted these data-driven marketing platforms are better able to prove the technological return on investment (ROI), in a short time. Basically, companies spend a lot of money trying to identify customer segmentation by creating multiple lists, acquiring information from several sources, and even more, making manual processes of information to segment them. When compared to the automated process of campaign management and use of analytical models to generate assertive profiles of offers, they find they’re quickly able to generate more business and ensure customer satisfaction.

    Other studies reinforce that marketers and retail executives prioritize technology investments, and integration of channels. Teradata and Econsultancy’s recent study “Enterprise Priorities in Digital Marketing” showed that 60% of marketers consider their main investment to be in technological integration.

    We can conclude that this new trend brings customer relationship management (CRM) to a new level. Though we’re seeing a transition from the current model to the new model, we cannot forget the importance of well-defined processes and your team’s training for it.

    Source bibliography:

    Computerworld — Omni Chanel um dos desafios para o varejo 2014 – January/2014

    A Forrester Total Economic Impact™ Study (June/ 2014)

    Enterprise Apps Today – (September/2014)

    Forbes – Omni Channel more than a digital transformation buzzword (September/2014)

    IDC Retail Insights – September/2014

    The post It’s Time to Turn on Your Omni-Channel Marketing appeared first on Teradata Applications.

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