This latest seminar followed our normal formula by examining two subjects. The first being the ongoing trends of the financial markets and how this reflects on consumer confidence. The second reflected the growing ease with which organisations can centralise their customer data and leverage it to improve customer communication particularly for on-line applications.
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Market Insights Seminar Series - August 2010
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2. Market Trends Key indicators and trends from the past 6 months August 2010
3. 3 Market Trends Market trend summary from Feb 2010 seminar: Credit Demand is slowly recovering. Consumer confidence is at its’ highest level for two years. Economists generally agree that the Australian Economy is well on the way to a speedy recovery. So how has the outlook changed?
12. 11 Market Trends: Conclusions Credit Demand is still recovering. Mortgage demand is back to normal levels after government incentives lapsed. Interest rates seem to be affecting consumer confidence. Big 4 banks have lost ground to other lenders in the credit card market. Economists generally agree that the Australian economy is still on the way to recovery.
15. Introduction Many organisations are in the process of, or have already established a single source of truth that can be leveraged by their marketing teams
16. Agenda The principles of a marketing data mart The benefits How to move forwards Summary
17. Data Based Marketing Problems traditionally faced by marketers Limited customer understanding Inability to communicate effectively Expensive/ difficult to test ideas Need to be ‘first’ in the market Measuring/ demonstrating effectiveness
18. Marketing Data Marts Data marts – the principle Customer base ‘snapshot’ Typified by the term ‘Single Customer View’ Provide greater control Remove reliance from IT Provide greater understanding Increase marketing effectiveness
19. Marketing Data Marts Data marts – the barriers Organic data growth Limited IT resource Cost (upfront) Technical know how Slow Implementation
22. Single Customer View The SCV collates all the information held on an individual customer including:
23. Extended View Ideally it also provides a more comprehensive environment by including generic information for the whole population.
24. The Customer Hierarchy In addition to the more traditional individual level, an additional benefit to the SCV is the ability to understand behavioural patterns at a family and household unit level. Household Individual Family / Household
25. The Benefits Customer understanding Benchmarking (internal & external) Improves data quality Test platform for impact analysis Strategic planning Speed to market Platform for on-line marketing
26. Moving Forwards In recent years the technical and data landscape has changed considerably Technology has advanced to allow more data to be stored and processed cheaper and more effectively Software has advanced and been adapted to better fit the marketers requirements Data has become cheaper and more readily accessible
28. How to move forwards In-House vs. Outsource Greater control Develop know how Cost effective? IT impact? Speed to market Leverage expert knowledge Access ‘market’ data Cost effective (incl. no head count & CAPEX)
29. Summary The world has changed: The environment is different from the ‘90’s when 1 to 1 marketing was the word – it’s now a reality Operational data marts are extremely beneficial for effective one-line marketing Many organisations are embracing this approach
