How the Power of Big Data is Used to Discover Hidden Planets

Astronomy, like many other sciences, is heavily reliant on data analysis. Scientists looking at stars and planets record a multitude of variables including heat signatures, brightness levels, radiation, and even high level chemistry equations. As a result, it’s not too difficult to see how scientists make discoveries much later than the data shows.

In 2009, the space observatory, Kepler, named for early astronomer Johannes Kepler, was launched with the mission of discovering more exoplanets. Exoplanets are Earth-like planets that orbit stars outside of our solar system. Kepler was extraordinary at its job, almost too good in fact. Using a photometer that monitors the brightness of almost 150,000 stars, as of February of 2014 Kepler has discovered over 900 confirmed planets as well as another 3600 unconfirmed.

Nebula
Discovering 900 planets out of over 4000 candidates is no small feat, but on February 26, 2014 scientists discovered an astounding 715 new planets from the Kepler’s old existing data via big data analysis. Using a tool called ‘verification by multiplicity’ NASA scientists were able to comb through overwhelming amounts of data with pinpoint accuracy. This sophisticated big data technique has roots partly based in probability and can be used for “wholesale validation” according to Jason Rowe, a member of SETI (Search for Extraterrestrial Intelligence).

Thanks to big data analysis, a groundbreaking astronomical discovery has been made. The next question though is “How do we apply this to the business world?” A giant space observatory returning an overwhelming amount of data is not that far off from a company with millions of customers. Using this same principles one could glean industry insights that are invaluable to any company’s success.

 

 

How to Utilize Lifecycle Marketing

marketing personalizationLifecycle Marketing can Deliver the Right Message at the Right Time!

You, as a marketer, are aware of the thousands of e-mails that companies send out according to the various seasons of the year. As the winter months near, there are a slew of promotions for winter apparel, home heating and everything related to the holiday season. Come spring, consumers’ inboxes bloat with offers for patio furniture, grills and air conditioners. These companies are targeting groups of products to coincide with seasons and holidays.
Lifecycle marketing is similar. Not only are you using big data as a means to strategize delivering the right message, product and offer at just the right time, it’s also recognizing the stage in which the customer is with the brand or lifecycle of the product itself. If a customer is an avid runner and purchases a pair of sneakers, more than likely, they’ll need a new pair 6-12 months down the road. It’s knowing that when a customer purchases a mobile phone, they’ll probably be looking to upgrade and exchange towards the end of the second year.

One of the “don’ts” in marketing personalization is treating everyone the same despite interests and lifecycle changes. That would be like trying to sell an air conditioning unit three days before a major blizzard is about to hit. It’s not happening.

 

Placing the right products and offers on the table at the right time increases your chance of customer loyalty and increasing your revenue. There’s a narrow margin of “make it or break it.” If a customer purchases a new mobile phone you wouldn’t try to sell them a new one several months down the road. What do customers purchase for their phones throughout that timespan? If you guessed accessories, you’re right.

A lifecycle can range anywhere from somewhat long term to short term. Jill and Bob announced they’re having a baby and the due date is months away. This widens the margin for email marketing and allows you to send various products and offers relevant to the stages of pregnancy, preparation and beyond. On the other hand, if John is showing interest in asking Jane for her hand in marriage, the margin is narrow. Got a great deal on engagement rings? Well, now is the time to send it. NectarOM’s suite automates the content based on the customer and product lifecycle so you know what products and offers to bring forth at just the right time.

You can request a demo through our website to see how Nectar’s products can best serve your needs.

 

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The Power of Trigger Marketing

marketing personalizationTrigger a Call to Action through Personalization!

As the old saying goes, timing is everything.  Trigger or Event-Based Marketing is the pulse behind a successful campaign because it hones in on actions your customer takes today. The result is highly targeted, hyper-personalized communications that delivers immediate results.

A trigger is the opportunity to talk to someone.  As a marketer, you’re reacting based on this trigger by cultivating an offer or message and presenting it in a timely manner.  Within that process, it’s important to keep frequency, value and presentation in mind.

What defines a trigger and takes it to that pivotal step of reacting? It can range from a welcome or thank you email when a new customer makes a purchase or acknowledging a customer’s absence.  Other common triggers include checkout abandonment, customer loyalty, seasonal, lifecycles, special events, and sales triggers.

Strategizing how you approach these triggers, cultivating an offer, and presenting it is no easy task. You’ve noticed Patty has left several items in her cart. There’s dozens of reasons why this could have happened. How you approach this is crucial. You want to be personal and helpful, however, you don’t want to cross the line of being overwhelming and “creepy.” For example, an e-mail will be pushed out to Patty a week after her cart has been abandoned with something along the lines of “We noticed you left several items in your cart and would like to offer you a 20% off coupon to use towards this purchase.”

As a marketer, recognizing the changing habits of consumers’ online shopping habits is important for staying ahead of the competition. Trigger marketing is a fantastic way to gain additional per customer revenue with little effort using SaaS software such as NectarOM’s suite.

 

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How Customer Analytics are evolving the way we Market

marketing personalizationCustomer Analytics allows you to learn all your Customer Needs!

You’ve got big data. Now the big question is, what do you do with it? With the help of customer analytics, you can turn your data into something useful and transform it into a prime marketing tool. The result is an enhanced customer experience with data driven, hyper-personalized communications.

In today’s world, customers have set the bar high and you need to meet their demands and expectations. Marketing campaigns need to be turbo charged with personalized content, information and products. You’ve only got a few seconds to make a great first impression. It’s important to make that opportunity count.

How does all of this come together to cultivate offers and products for a successful marketing campaign? By combining purchases, social media conversations, real time behaviors, customer insights, lifestyles, listening to what you’re customer is doing, etc.  Behavioral data will assist you in identifying unique segments obtained through customer analytics.

With Nectar Suite you can use the results immediately for targeted marketing campaigns and your customer analytics will stay updated so you can deploy this in real time.  This may include featured deals, products recommended for you, hot offers right now and promotional offers.

You can request a demo through our website to see how Nectar’s products can best serve your needs.

 

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Marketing Personalization Then & Now

marketing evolutionLet’s Take A Trip Back In Time…

When you sit back and look at the technology today versus 15 or 20 years ago, the first thing that probably comes to mind is, “Times have changed.”  When you think about it, the advances in technology over the years is quite phenomenal.  The same holds true for marketing personalization, one-to-one marketing and hyper-personalized customer communications. At one time, acquiring customers, boosting revenue, growing a customer base and retaining customers required a much different and often tedious process.

Some of you may remember these “old school” methods.

1. The 3 Foot Rule – Although it was somewhat awkward, this method entailed sparking up a conversation about your business opportunity or product with anyone within a 3 foot radius.

2.  Prospecting Strangers – This is sometimes referred to as cold market recruiting and it involves a strategy of approaching strangers, creating curiosity, getting people’s interest and implementing a path to present your idea, opportunity and product. Talking with potential customers was also a way to gather information for a customer profile.

3.  Paper Ads – At one time, paper ads (ie magazines, newspapers, catalogs, etc) were heavily relied on for marketing campaigns as this method was the only way to reach thousands of potential customers.

4. Trade Shows – This gave business owners the opportunity to display products, introduce upcoming products, sell in mass quantities, acquire new customers and distribute paper ads in the form of fliers. Hundreds, if not thousands, of people flock to trade shows every year to “get the scoop,” take advantage of special offers, and see what’s coming in the year ahead.

5. Mass Mailers – Hands down, this had to be one of the most grueling tasks. The process of mass mailing was a complex strategy that was extremely time consuming. You had to collate a target audience, print out hundreds of fliers, address envelopes, seal and send. Then, wait. Unfortunately, this approach didn’t deliver results that were immediately visible.

6.  Door to Door – At one time, going door to door to introduce and sell a product was a sole means of getting the word out there about your product and would drive immediate results. You had the product in hand, a sales pitch and, if warranted, a demonstration. When all was said and done, you knew if you had a new customer or not.

7.  Word of Mouth – Regardless of the advancements in technology or marketing personalization, word of mouth will never phase out or lose it’s impact.  This is by far one of the most important elements in a business. Positive word of mouth is the modus operandi engine behind reaching and obtaining success.

Granted, most of these techniques have been modified and advancements made however, there is one thing that hasn’t…the need for marketing personalization.

Although some of these are still used and hold a great deal of importance, the marketing personalization road map has changed drastically.  The process has been intricately modified to cover every detail and behavior to substantiate big data. A great deal of time and work that has gone into developing solutions to connect customer data for marketing personalization, trigger marketing, personalized communications and data integration.

Old School has transpired into the here and now…

1.  One-to-One Marketing – Individualizing every bit of data and leveraging social data to establish and create one-to-one marketing messages across all digital channels. This technology allows the market to engage with a customer in ways they never could before.

2. Connecting Customer Data – Facilitating data integration based on browsing & purchase history, web & mobile click tracking, email, CRM, demographics, social, etc.

3. Creating a 360 Degree Customer Profile – In the process of connecting customer dots, and customer lifecycle management, a complete customer profile can be obtained so your company can deliver relevant content to each and every customer in real time.

4. Generating Hyper-Personalized Content – Your 360 degree customer profiles, along with segmenting your data, will determine the most accurate route to deploy content, products and information based on immediate customer needs.

5. Trigger Marketing – Executing a successful and profitable campaign is possible by honing in on triggers, identifying events and communicating in real time during these pre-planned points in time.

6. The Small Details – These details aren’t so small and play a big part in the road map to success. Listening to what your customer is doing and using adaptive algorithms gives you the ability to observe, test and optimize, key in on insight generation, evaluate and optimize your hyper-personalized content. This in turn will fine tune accuracy, value and appearance of marketing campaigns.

Modern technology has come a long way and it’s a far cry from hitting the pavement and go about your company or solely relying on paper ads to spread the word.  Old school methods are still applied today and the importance of these shouldn’t be ignored. One feeds off the other and the end result is a strong and loyal customer base with a steady stream of new customers.

 

 

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Why Trigger Marketing Matters

trigger marektingAs They Say…Timing Is Everything

As a marketer, you’re probably thinking about how to acquire, grow and retain customers.  That’s a lot to do! There’s a lot to process as well as consider with marketing personalization. You’ll often hear important key terms mentioned including customer engagement, 360 degree customer profile, big data, CRM, ROI, segmentation, hyper-personalization and one-to-one marketing. These are all necessary components to create successful marketing personalization so your company can deliver the most relevant content in real time.

Amid these components is trigger marketing. In a nutshell, trigger marketing is the engine that hums continuously. There’s a constant stream of messages being deployed to to your customers based on behaviors, browsing history, purchases, interests, etc. Delivering a successful trigger marketing campaign entails combining these pieces of big data, identifying an event in a customer’s life that warrants a need and communicating during these pre-planned points in time.

Having the right road map can make it easier to achieve success and the desired outcome. As part of the email marketing campaigns, triggered email marketing is at the core of helping to drive engagement and revenue.

Delivering a successful campaign is your ultimate goal.  To achieve that, there are 3 key elements to remember…

Find the appropriate trigger – The content within these marketing campaigns should be based on your customers immediate needs.

Cultivate the right offer – Triggers have to be followed up with relevant products & offers.

Timely Execution – Presentation should occur immediately after an appropriated trigger.

As a business owner, you want your campaign to drive both traffic and revenue. There’s always a concern of frequency, value and appearance with trigger marketing. And, the big question lingers…”Do people mind followup emails?” The answer is yes. Keep in mind, though, it’s all about presentation, timing and tone.

Here are some tips to keep in mind for what your customers are looking for…

1.  Acknowledge me. I just signed up to receive emails from your company.  A welcome or thank you email is a considerate means of acknowledging my interest and introducing your company, products, offers, etc.

2. Entice me a little. The operative word is little. There’s a fine line between enticing me and conning me. Why should I become and remain a loyal customer? Based on my personal information, how can your company suit my needs more efficiently and cost effectively then company A or B?

3. Where’s my receipt?  I made a purchase and I’d like to have a transactional email for my records. I’d like to double check to see if my order is accurate and things processed correctly with my bank.

4. Spark my interest. I recently ordered a new bedding set, a few bathroom accessories and some end tables. It’s safe to assume I’m updating my home. I’d be interested in additional products you offer based on my purchases. Window treatments? Kitchen accessories? Area rugs? Go ahead, inspire me.

5. Nudge me a smidgen to try something new.  I’ve worn Crocs flip flops for as far back as I can remember. It’s my brand of choice, however, there’s a chance I order a pair year after year out of habit. Expand my horizons. Is there a flip flop that’s similar made by SKECHERS or Nike? Show me. I might just consider stepping out of the box.

6. I like special treats on my birthday. A gift basket filled with gourmet treats showing up at my door compliments of your company isn’t feasible, I know. However, how about a special offer, discount coupon or, at the very least, a Happy Birthday greeting?

7. Get me excited. Is there an upcoming event that you know I’ll be head over heels about? Let me know about it. As the event nears, send me a reminder or two because I’m busy and I may have forgotten to make note of it.

8. Offer a token of appreciation for my business.  I’ve been a loyal customer for quite some time. Whether it’s a personal note or a 20% off coupon on my next purchase, it’s nice to know my loyalty is appreciated. I’m making the choice to do business with you. Without loyal customers…well, you get where I’m going with this?

9. I’m not a fan of creepy. Offer discretion when analyzing my browsing and purchase history. Any mention in your emails of the amount of time I spent browsing products to diminish the appearance of stretchmarks will be duly noted. This will not work in your favor in more ways than one.

10. Touch base with me. I’m busy. Often times weeks go by with very little time to spare. I may not have had time to browse, shop & make a purchase. I may have even left a product or two in my cart.  Send me an email. Remind me there’s a product in my cart and, if you really want to earn brownie points, offer me a coupon towards my purchase. Score!

As mentioned, with trigger marketing, it’s all about timing, relevancy, tone and presentation. Remember, your customers are real people. Address them as such, respect their time, send offers that fit their needs and time it just right. Capture the attention of your customer by establishing the appropriate trigger. Materialize the immediate needs with applicable products, offers, and information.  With automation and the right set of tools, these triggered events can be both automated and intelligent. Once these fundamentals are in place, you’re ready to execute.

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5 Don’ts for Marketing Personalization

Scattered within the do’s of Marketing Personalization are some don’ts…

 

marketing personalizationWhether you’re the owner of a small business or a lucrative company, there’s a need to get personal with your customers.    Personalization is rendered when information is gathered through various social streams, email, mobile, CRM, transactions, etc. This melting pot creates a 360 customer profile so you can deliver personalized, up to date and accurate relevant content to your customers.

There’s an abundance of “how to’s” in the world of marketing personalization. You’ll find tips and advice on just about everything from the varying levels of personalization & segmentation to the challenges of improving relevancy through data.  What about the don’ts? Are there practices you should avoid when diving into marketing personalization?

 

Yes.

1.  Don’t get too personal unless you’ve got the data to back it up.  Getting to know someone personally takes time.  The same holds true with your customers. You’re not going to establish a 360 profile in 15 minutes.  Collecting valuable data is crucial when incorporating personalization into your marketing strategy.  When there’s not enough data to back it up, you risk delivering information, featured deals, products of interest, promotional offers, etc that are vague and generic.

2.  Don’t be creepy about it.  Suggesting products to your customers based on their browsing and shopping history has a world of benefits. A 360 view of your customer goes a long way however, you don’t want to cross the “getting too personal” line.  For example, your data tells you that Mrs. Jones is expecting and she has recently browsed baby items and made several purchases.  Recommending additional items in a “based on your previous purchases, may we suggest” tone is perfectly acceptable. Sending a quip mentioning the amount of time Mrs. Jones spent browsing nursing bras and commenting on her baby bump “selfie” profile picture…creepy.

3.  Don’t suffer from mediocrity.  On average, about 70% of marketing emails lack personalization on a multitude of levels. Names are misspelled, the content is inconsequential, and the offers hold very little, if any, interest to your customer. If you’re going to embark on marketing personalization, do it right. Make an impact. You’ve got the data so leverage it.  Give your customers a reason to open and read the email. Let them know you’re paying attention to them.

4.  Don’t drag it out. If your customer base is online shoppers looking to score a great deal, grab their attention with the subject line.  Once you have their attention, get to the point. You’ll lure your customers with personalized sales, deals and coupons. Add a few time sensitive “80% off today only” highlights. Don’t dilute the relevancy with bloat and useless fillers. More than likely, your customers care very little about ribbed cuffs and double stitching. Their eyes are feasting on the 80% off discount.

5.  Don’t lose sight of important details.  You can have the most up to date personalized data on each and every customer however, it’s often the small details that can make or break the deployment and customer response.  Avoid these mishaps by safeguarding your form fields, running reports to ensure your data isn’t blighted with errors and checking to see if defaults are set accurately.

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Amrit Kirpalani Presents at the Kellogg Alumni Club Symposium

Kellogg Alumni Club 2013

The ability to go back to your alma mater and inspire current students with your success is what many entrepreneurs dream of! Our CEO Amrit Kirpalani was able to do just that a few weeks ago at the Kellogg Alumni Club of DFW Career and Leadership Symposium! The event’s theme was ‘The Entrepreneurial Formula – What is the secret to starting a company in the DFW Market’, which is something that our CEO knows well. The day was broken down into introductions, views, and questions for the esteemed panel, which included the CEO of UStream.tv and KeyRing. All the panel members discussed the best places to incubate a new business, what the DFW Market looks like, and how to know if your company is successful. It was a great success for current and past Kellogg School of Management students alike!

Are any of you members of the Kellogg Alumni Club of DFW?

Want more startup and social media info? Follow Nectar Online Media on Facebook & Twitter!

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Nectar Online Media Presents Predictive Analysis Techniques at the Gateway Analytics Conference

We are always on board for conferences that emphasize the importance of predictive analysis techniques for business decision-making processes. On November 12-13, the Gateway Analytics Network hosted the Business Analytics & Insights 2012 Conference, with four main tracks: Predictive Analytics & Insights, FP&A, Marketing Analytics & Insights, and Human Capital Analytics. This 4-in-1 event aimed to give attendees the opportunity to learn about the track that most interested them. Nectar Online Media’s topic was within the Predictive Analytics Track and was titled “Predictive Social Commerce: Driving Real Revenue through Social Media”. We were in great company, as other companies presenting included Coca Cola, InterContinental Hotels Group, at&t, Home Depot, and Georgia-Pacific. We look forward to future Gateway Business Analytics & Insights conferences!

Want more startup and social media info? Follow Nectar Online Media on Facebook & Twitter!

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