Signalcentral_banner_160517_v2.png

How to Transform Marketing with the Membership Economy and Advanced Analytics

Posted by John Mack and Sarah Anderson on Wed, Nov 30, 2016

Everyone wants to belong. But how can that basic human need coexist with the commercial needs of a business so that both the customer and the business find the relationship beneficial? Big Data analytics makes it possible while also opening new possibilities.

History is replete with examples of human beings finding ways to connect with one another. We form tribes, congregations, clubs, and entire societies. We develop communications channels and pass specialized content through those channels. Even efforts to divide these groups and disrupt these channels simply engender new ones and actually help strengthen our identity as individuals. This pattern has continued to evolve with the advent of the digital age and extends to peoples’ relationships with products and services. Are you loyal to Mac or PC? Do you use Facebook or Instagram? Are you enrolled in Amazon Prime? Are you a Netflix subscriber? This need to identify one’s self with a larger group is a primal human instinct no matter how contemporary the group.

Read More

Topics: Big Data, Analytics, Marketing

CLV and Clumpy Customers: Why Clumpy Behavior Is Changing the Customer Lifetime Value Equation

Posted by Michael Turon on Fri, Sep 23, 2016

Calculating customer lifetime value has been a critical part of the marketing process for years, but new technologies are changing consumer behavior, and marketing professionals need to catch up.

Ever have a weekend where you just can’t stop spending money? Maybe you’re using some free time to stock up, or you’re decorating a room or planning a party. Or maybe you’re not spending more but just consuming more — a good television or movie series or, for example, plowing through a good book on your Kindle. This kind of behavior is called “clumpiness.” And while it’s not necessarily new, new technologies — particularly in the world of digital content — have shed light on this type of behavior for all industries. The problem is that it hasn’t been included in the formula marketers have been using for decades.

Read More

Topics: Signal Hub Technologies, Analytics, Marketing

How to Nurture Existing Customer Relationships to Drive Revenue Growth

Posted by John Mack on Tue, Jul 26, 2016

PART 4 of 4: Grow Revenue from Your Existing Customers: How Big Data Analytics Can Help

This post is the fourth in a four-part series. The third installment, “Existing Customers vs. New Customers — Exploring the Road Less Traveled,” discussed aspirational value and Big Data analytics’ role in attaining it. Here, we’ll discuss how all the elements described in this series fit together to drive revenue growth.

Businesses that overemphasize or exclusively focus on new business development to drive revenue growth are missing a substantial opportunity: their existing customers. Information about a business’ existing customers already resides in multiple areas of the overall corporate database, not just on a business development list. These customers’ profile information, consisting of demographic and psychographic details, preferences, and behaviors is there, offering a data picture that is far richer than the picture associated with prospective customers.

Read More

Topics: Big Data, Signal Hub Technologies, Marketing

Flipping the Model: Successful Retailers Tailor Campaigns to Each Customer's Needs

Posted by John Mack on Tue, Jul 19, 2016

With 2016 already halfway over, retail marketers are deep into their 2016 campaigns, which are intended to acquire and retain customers, drive sales, and improve overall customer loyalty. But what are marketers doing differently to make 2016 better than 2015? Last year, the Commerce Department recorded only a 2.1% increase in retail sales (excluding automotive) over 2014 — marking the worst such performance since 20091 and a far cry from the 4.1% increase that the NRF projected2. If retailers haven’t changed the way they approach marketing, are we in for more of the same?

Read More

Topics: Big Data, Marketing

Existing Customers vs. New Customers — Exploring the Road Less Traveled

Posted by John Mack on Tue, Jul 12, 2016

Part 3 of 4: Grow Revenue from Your Existing Customers: How Big Data Analytics Can Help

This post is the third in a four-part series. The second installment, “Big Data Analytics: Necessary but Not Sufficient,” discussed three new ways companies can use Big Data analytics to improve a business’ ability to consistently improve revenue growth from existing customers. Here, we’ll discuss aspirational value and Big Data analytics’ role in attaining it.

People sometimes fail to notice opportunities that later seem obvious. Even when we do identify such opportunities, we may neglect to pursue them, or we may take an ineffective approach to pursuing them. One example of this phenomenon is how businesses think about driving revenue growth.

Read More

Topics: Big Data, Signal Hub Technologies, Marketing

Grow Revenue by Using Big Data More Intelligently

Posted by John Mack on Fri, Jun 17, 2016

Go Beyond the Symptoms: How to Overcome Revenue Growth Challenges

Part 1 of 4: Grow Revenue from Your Existing Customers: How Big Data Analytics Can Help

This post is the first in a four-part series. Here, we discuss the key signs of slowing revenue growth and the first steps organizations can take to turn it around.

It isn't hard to Identify the symptoms of declining revenue growth. Often, more than one of the classic signs will be evident at any given time. A declining growth rate or a shortfall in revenue vs. the target level are perhaps the most obvious indicators. Operating expenses growing faster than revenue can be yet another strong harbinger of revenue growth challenges, as well as a potential indicator of a cost structure that is no longer aligned with the business’ sales capabilities. While they require more research and calculation to derive, declining market share or shrinking revenue growth rates vs. competitors are other telltale signs.

Read More

Topics: Big Data, Signal Hub Technologies, Marketing

Customer Aspirational Value – A First Principle for Business

Posted by Georges Smine on Fri, Jun 10, 2016

Conventional wisdom leads you to think that when a company knows its customers, it ends up providing better service, increasing loyalty, and generating more sales. Right?

Yes, but the truth lies between what is desired and what is achieved.

Opera Solutions has been helping Fortune 500 companies apply Big Data analytics to address challenges in operations, sales, and marketing, among other business functions. In today’s business climate, one of the most relevant challenges is how businesses can most effectively grow revenues from their existing customers. We have chosen this to be the topic of our next webinar.

Read More

Topics: Signal Hub Technologies, Marketing

The Key to Making Big Data Valuable: Make It Personal

Posted by Laks Srinivasan on Mon, Oct 26, 2015

Most companies realize they are sitting on a treasure trove of customer data that has the potential to deliver tremendous business benefits; however, most also have no idea how to realize those benefits. How can companies use their data to bring in more customers, increase the amount they spend, and make them more loyal? How can companies use data to turn unhappy customers into loyal champions of the brand? And perhaps most important, how can companies use that data to drive a significant increase in revenue?  

Read More

Topics: Big Data, Data Science, Marketing

The Realization of Personalized Marketing

Posted by Sarah Anderson on Thu, May 07, 2015

2015 could be the year that true personalization finally takes hold, but to achieve it, you’ll need to change the way you think about marketing.

Customers expect to be treated as individuals. They require relevancy and prefer having a relationship with a company that keeps track of their preferences, purchases, and correspondence. Customers are ready for personalized marketing, and now, finally, more and more companies are, too.

Read More

Topics: Analytics, Marketing

How Data Science Adds Value to Credit Card Loyalty Programs

Posted by Christopher Bazett on Mon, Oct 06, 2014

Most redemption programs suffer from the same challenge: delivering rewards that customers actually want. To make this possible, the programs offer ever-more rewards, which puts the onus on the customer to find desirable ways to spend their points. In the end, redeeming points can be more of a chore than a reward, ultimately diminishing the value of the very program that was supposed to create value and differentiation in a crowded space. But with millions of customers, no one (or even 100) reward(s) will meet the desires of everyone. So what are credit card issuers to do? How do they put the value back into these programs, so customers are incentivized to choose one card over another?

Read More

Topics: Data Science, Marketing