Mining for Gold: Using Data to Drive Revenue & Services
•Transferir como PPT, PDF•
1 gostou•346 visualizações
ASAE Membership Marketing Symposium
![Enough about us… ,[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Recomendados
Recomendados
Mais conteúdo relacionado
Mais procurados
Mais procurados (20)
Destaque
Destaque (20)
Semelhante a Mining for Gold: Using Data to Drive Revenue & Services
Semelhante a Mining for Gold: Using Data to Drive Revenue & Services (20)
Mais de McKinley Advisors
Mais de McKinley Advisors (16)
Último
Último (20)
Mining for Gold: Using Data to Drive Revenue & Services
- 1. Mining For Gold Philippa Gamse Wes Trochlil Jay Younger Using Data to Drive Revenue and Services
- 3. “ Mayo Clinic Plans Database Of Every Patient’s History, Including Genetic Makeup” Wall Street Journal 3.25.2002 In The News...
- 6. Call Center Staff Meeting Registration Renewal Forms Surveys Vendor Reports Product Sales E-mail Web Education DATA
Notas do Editor
- Good Morning & Welcome Me Co Presenters Excited to be talking today about data mining Housekeeping - take questions - drawing First of all, we’d like to get to know you
- Show of hands 1. Trade / IMO 2. Total Budget <1, 1-5, 5+ 3. Wes: AMS question Posted survey – thanks to all -- try to address most of those Anyone have a burning issue before we dive in? I wanted to start with a headline that I saw...
- read quote how’d you like to oversee that project? Mayo’s warehousing its 6 million medical records will eventually include every patients complete genetic code The article goes on to say that “ Once it is up and running, the database should give Mayo doctors the ability to quickly identify GROUPS OF PATIENTS with SIMILAR CONDITIONS or who have RESPONDED IN A PARTICULAR WAY to treatments, which will greatly speed their research.” We can all imagine benefits- centralize medical data - access -speed - see linkages and trends the fact is that the benefits are the same for you as Mayo the differences are just a matter of scope and desired outcome They’re trying to cure cancer…you’re trying to advance mission Mention for 3 reasons 1. I thought that anyone who’s ever managed data collection would get a kick 2. Highlight the methodology they’re using - refer back to quote - important concepts for today’s talk. Process same. 3. The sense of the possible - what data mining can do. So, what is data mining anyway?
- Read Quote Straightforward, right? Anyone have an alternate definition or understanding? Now, let me ask...how many would say that they're doing some kind of data mining now? Good…now, how many have a process and a written document that describes your strategy for collecting, managing and capitalizing on your data? That's the gap we're trying to help you bridge To help you get from A to B in this effort Look, for many of you, this program will reinforce what you already know. The question we have to ask ourselves: 'Are we doing those things we know we should be doing. We’ll try to give you a few tips on how to make progress on your own terms, and in your own context. Context is important here, because...
- Saw with the Mayo example - process can be huge In fact, perception is, and... ...many companies (such as) would have you believe ...that you need to spend tons of time and money Can be that way - Doesn’t have to be - but we can learn from them We’ve worked with many organizations who mine data brilliantly using Excel Contrast -- Mayo has 200 IBM people in house Message is that the process is the same - regardless Once you get over certain hurdles you can do this Probably using tools that you already have in house Even doing a little bit of data mining can make a huge difference in your marketing efforts. Because here’s the reality.
- Data is coming at you from everywhere some yes / some no key - realize that these are opportunities and figure out what you have and what you need but in order to make sense of all this... ...to have a usable data ...to drive revenue and develop new member services you have to have a data management strategy in place One that reflects your reality, which we can’t know up here Throughout ask questions on screen The answers can become your strategy We’re going to try to help you answer 3 key questions today,
- Read questions As you’ll see, the answers for each of you will probably be a little different. But hopefully when you leave here you’ll be able to see some of your answers beginning to develop. So now I’m going to turn it over to Wes who will talk about some of the technology issues that can “get in the way” of building your data management strategy and being successful with data mining.
- Begin with the assumption that a centralized database is the ultimate tool in this process. Now we’ll look at what a centralized vs. a non-centralized system looks like.
- OK, now that Wes has told us that technology is not a problem…what should you be collecting? Well, I'll give you the old consultant's answer that I’m sure you'll hate…it depends. Some things to consider before you can really answer Goals will dictate what you need many share 2 - membership & non dues income often need a combination of data to define and enter markets research, web, etc we’ve helped several clients collect data on questions like... ...what members value most…what they do...what they need help them determine what to offer, and how to deliver it several ways to gather, well touch on several including NACUBO Then, look at the Upside - what's the most profitable Calculate explicit & implicit Don’t forget the reality: cost of staff - resources - time usually not tech (not adding fields, adding processes) Some longer than others - email - qualitative research
- With all the data out there, it can help to break it down We’ve grouped data into 3 categories you'll see us talking about these from here on out Remember the Mayo database example? They want to see how specific groups of patients with similar characteristics respond under particular circumstances Mayo is taking what they know about patients (chart) Gathering new information (genetic code) Putting it into the database Using it to find links among all this data Taking what they know, figuring out what they need, collecting it, and then looking for what’s between the lines. That’s the execution of a data management strategy Here’s how the categories come into play for us
- I’m going to cover this quickly Think of research data as “what you know” - even if you don’t yet It’s attainable in a variety of ways - Demographics - “vitals” age, gender, income etc (prof soc) Employment - both for prof soc (where employed, responsibilities) - and for trade (how many employees) Industry Data - helps position your org, id competition Marketing - what promotions are working Financial - company’s sales data, sponsorship budgets once you’ve got it, there are at least 2 benefits allows broad brush descriptions gives you ability to group people Here’s an example of the results of a research study
- nice, compact, useful profile help the organization define who it is to potential sponsors, partners, advertisers, etc. Also allows them to focus on key markets develop strategies to support goals around this data nothing fancy, but the data is factual they have it right at their finger tips Now...
- With all that's happened in the stock market recently Fact is that past performance is key in marketing Knowing what people did and when they did it Will definitely help you predict What they’ll do in the future And when they’ll do it From now on…think fo past performance as behavior
- Behavioral data gives you the tools to understand What are people buying from you When, in what quantities What they’re likely to buy in the future all kinds of opportunities to collect behavioral data what you collect, again, depends on your objectives is it important to know when people register for your conference? or just to know that they attended? It depends…I know you hate that…but it’s true If a key goal is to understand how your marketing effots impact your registration pattern, so that you can save time & money on promoting meetings, you should collect reg date Knowing when can help point to why if something else is more important, collect it first save reg date for later Here’s something that that’s really important and relevant now...
- Sponsors, Advertisers, Associate members The supporters of your organization If I took another poll…and I wont I’d bet that most orgs have virtually no data on sponsors And that even fewer use what you know now… to inform You can learn a ton from these companies what they’ve bought in the past When how and WHY they make buying decisions What they’re looking for? Where else they’re sponsoring More and more, assns are looking to sponsors for support You NEED their revenue - but do you know them Do you collect this information? Store it? Use it? You can use this data to identify what they’re looking for and, as important, who else you could be working with. If you do this, you’re ahead of the curve and congrats to you. If you’re not, then I just gave you at least one thing to take back with you. Now, Philippa’s going to cover how to integrate what’s happening with your website and email into your data management strategy.
- Start by taking a deep breath Then conduct an information audit We’ll talk more about that What it entails Then go back to the goals take your information and see how it fits with what your trying to accomplish Then, it’s frankly just a matter of getting it done So let’s talk about the information audit
- Has anyone ever done one? Would you care to share your experience? complete review of the information assets key: think of information as an asset also how it is collected and whether its being used and to what end also any duplication of information Finally it also reviews the external information...
- That you don’t have In other words, info assets that are not used or leveraged Info audit first step in understanding what you know and don’t know about your members help you identify gaps in your knowledge and find out where you're missing opportunities This will also pave the way for you to brainstorm within your organization ...on how to collect the data you're missing and ...how to put it to use Bottom line: knowing your customer (member/sponsor) That’s the mandate of marketing now So that brings us full circle on what to collect, now let’s talk about what you can do with all this information.
- Some ideas on how can you put this all to use. See an example with NACUBO soon At the end of this process, information audit, goals, planning you start applying data mining to your initiatives market existing products or build something new but, you’ll be basing your decisions on facts, not guess work what groups / types / categories are buying & not buying all based on the data you’ve got - ready to go If you believe the hype - and we do - expectation now is that you'll communicate to members... ...exactly what they want - in the format of their choosing you can capture those preferences in your database to build stronger relationships - communicate specifically makes for much better member service I can think of an organization (I wont name them) over communicates - send 3-4 email’s a week I’d say that b/c members have no way to dial in their preference their communication isn’t working b/c it’s not teaching them anything about what members want & don’t want Predictave: amazon best example have you seen their recommendations? Pretty good promote new products based on real behavioral data
- What else We work with several associations that... ...feed usage data of programs into their database communicate total member savings at the end of the year in renewal mailings quantify down to the dollar what member saved a nice touch particularly if you’re considering a dues increase Finally, by analyzing this data you’ll be able to see where you’re strong, and where you need to get stronger.
- Here’s an example of what you can do once this is set up We’re at a prof soc & goal to increase membership pretty common, right Again, this might seem obvious to some of you if it does, then we’re on the right track By pulling together what you know (or could know) about your members (research) with what you collect (e-data) with what they do (behavior) you start to understand not only what market looks like and where you should be focusing but what you should be highlighting (messages) Overabundance of messages - yours must stand out As wes said, centralized DB is the key Then, the gathering process isn’t what takes all the time You can afford to spend the time analyzing Now it’s time to see how one assn uses data mining to help them meet their goals.