Using Analytics with Direct Marketing to Ride Out a Tough Economy -- Part 1
Using Analytics with Direct Marketing to Ride Out a Tough Economy -- Part 1
We wanted to bring up another way that you can utilize an analytical approach. In a faltering economy, you can use analytics to measure if what you are doing today still makes sense — and how you should be planning for the future.
We’ll present a couple of ideas today and continue to give you more food for thought he next couple articles.
First, take a solid look at your current marketing plan and how well it is lined up with what your company is attempting to accomplish — i.e., your company goals. Traditionally, we set up our marketing objectives and then re-visit them at year-end. Right now, that probably isn’t going to cut it. You may want to consider performing an analysis of how you are currently quantifying your objectives and how those objectives are assisting your overall company bottom line. As part of the analysis, take a close look at what you are currently measuring and why? Does it still make sense? What you may determine is that you need to add in other elements to track and measure — or that some of the things that you are measuring today are no longer relevant to your business.
A second key area where your analytical approach will really help you is in looking at your internal data stores. We’ve performed data assessments for some of our clients and let us tell you . . . it is an excellent exercise. Take stock of what data you are collecting today and what is missing. Also, take a look at the data that you purchase. We’ve found in more cases than not, that organizations sometimes don’t have a good handle on all of the data purchases. This results in lots of data being purchased — some of it redundant — and at a price-point much higher than if it was comprehensively purchased for the organization as a whole. This analytical exercise also will give you a succinct idea of where your data is located between and across divisions company-wide.
Look for more of our economy-friendly analytical ideas coming right up!
Using Analytics with Direct Marketing to Ride Out a Tough Economy Part 1 - To learn more about this author, visit Nancy Arter's Website.
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We talk a lot about using an analytical approach in your direct marketing efforts. And, it’s only because we are passionate about it! We know that by using statistics and sound business knowledge, you can become an effective direct marketing machine! Better yet, you can add profitability to your company’s bottom line — and you can prove your contribution.
We wanted to bring up another way that you can utilize an analytical approach. In a faltering economy, you can use analytics to measure if what you are doing today still makes sense — and how you should be planning for the future.
We’ll present a couple of ideas today and continue to give you more food for thought he next couple articles.
First, take a solid look at your current marketing plan and how well it is lined up with what your company is attempting to accomplish — i.e., your company goals. Traditionally, we set up our marketing objectives and then re-visit them at year-end. Right now, that probably isn’t going to cut it. You may want to consider performing an analysis of how you are currently quantifying your objectives and how those objectives are assisting your overall company bottom line. As part of the analysis, take a close look at what you are currently measuring and why? Does it still make sense? What you may determine is that you need to add in other elements to track and measure — or that some of the things that you are measuring today are no longer relevant to your business.
A second key area where your analytical approach will really help you is in looking at your internal data stores. We’ve performed data assessments for some of our clients and let us tell you . . . it is an excellent exercise. Take stock of what data you are collecting today and what is missing. Also, take a look at the data that you purchase. We’ve found in more cases than not, that organizations sometimes don’t have a good handle on all of the data purchases. This results in lots of data being purchased — some of it redundant — and at a price-point much higher than if it was comprehensively purchased for the organization as a whole. This analytical exercise also will give you a succinct idea of where your data is located between and across divisions company-wide.
Look for more of our economy-friendly analytical ideas coming right up!
Using Analytics with Direct Marketing to Ride Out a Tough Economy Part 1 - To learn more about this author, visit Nancy Arter's Website.
Like this article? Share it with your friends
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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