Using Big Data to Target In-Market Furniture Shoppers [Webinar]
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Transcript of Using Big Data to Target In-Market Furniture Shoppers [Webinar]
Presenters
Terry Fitzgerald
Director of Client Services
• Extensive experience in working with well-known brands, including MasterCard, Kohl’s, GM and AT&T Wireless.
• Previous positions include Founder of Attain Group, EVP at MRM Worldwide, and SVP at Digitas.
• Over 26 years experience in database marketing and analytics.
• Previous positions include Executive and Account Management roles at Acxiom, Epsilon, and Experian Marketing Services.
Anders Ekman
President
Webinar Topics
Key Themes in Furniture Retail
Identify New Prospects with Foundational Data
Identify In-Market Furniture Shoppers with Fast Data
Options to Target Consumers with Personalized Offers
Q&A Session
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Furniture Retail Client Example
Customer centric analytics Combines online behavior and in-store purchase history trending over 7+ years.
Multi-Location Furniture Chain, $250MM in Sales
Integrated 7 source systems, including POS, credit data and online behavior.
Fully functional marketing solution in 8 weeks.
Over 20+ data-driven marketing programs in market today.
Traditional retail advertising is becoming less effective as today’s consumers seek targeted and personalized offers.
Must engage consumers across channels according to their preferences and to reach changing demographics such as millennial shoppers.
Marketers are often limited to using lists from common data sources that provide zero competitive advantage.
Marketers are feeling more pressure to use Big Data.
Key Themes in Furniture Retail
Traditional vs. Data-Driven Marketing ROI
Decreasing spend in favor of data-driven marketing campaigns.
On-line behavioral data (in-market purchase indicators)
Link offline and online IDs for omnichannel targeting
3rd party consumer data (250MM US consumers, 300 data elements)
1st party data (POS, billing systems, customer service records)
Foundational:Build A Better
Long Term Target Data Set
Onboarded:Connect
Offline and Online IDs
Fast:Target the Right In-Market
Customers and Prospects
Data-as-a-Service Leverages The Modern Data Ecosystem To Deliver Better ROI
Acquire More Customers with FurnitureROITM Data Solution
FurnitureROITM Data Sources
1. DataMentors’ Consumer Database: Identify New Prospects• 250MM US Consumers, 300 Data Elements.
2. Onboarded Data: Digitally Addressable Dataset for Real-Time Messaging• Link offline data to online IDs.
3. Millennial Data: Target Millennial Consumers with Multi-Channel Messaging• Data on 42MM millennials with rich contact data including email address and mobile number• Segment millennial consumers by proximity to your store location, income, home-owner or renter and more.
4. Pre-Mover and New-Mover Data: Send Offers to Consumers Who May Soon be In Market• Web mining to identify pre-movers and new movers who may soon be in-market for furniture. • Real-time data on new rentals, houses sold, geography, income level and more.
5. Social Signaling Data: Boost Customer Acquisition Through Social Prospecting• Social media furniture purchase signaling, such as “excited about the move”, or “looking for a leather couch”.
DataMentors’ 250MM
Consumer Database
Onboarded Data Millennial Data Pre-Mover and New-Mover Data
Social Signaling Data
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Download the webinar to listen to the entire audio.
DataMentors’ 250MM Consumer Database
1) Identify New Prospects with 3rd Party Data
Identify new prospects from 300+
data elements
Age
Recent Home Buyer
Home Square Footage
Home Ownership
Home Improvement
and Decorating Interests
Expectant Parent
Income
Recent Divorce
Foundational:Build A Better
Long Term Target Data Set* 1st party & 3rd
party data
2) Identify and Target Millennial Consumers
In order to compete for Millennials, furniture retailers need to understand the lifestyle and behaviors of this increasingly influential segment and find innovative ways to earn their business.
Email address Mobile number Income Age Home ownership
Home square
footage Home decorating
interests And more
2012 2014 2012 2014
20%
4%
19%
3%
24%
29%
45%
36%
42%
30%
24%
33%
14%
37%
12%
28%
Furniture and bedding buyers
Total dollars spent on furniture and bedding
Millennials
Generation X
Baby Boomers
Seniors
2012 2014 % change
Millennials $11.1 $27.0 142.1%
Generation X $22.3 $31.8 42.7%
Baby Boomers
$41.8 $34.7 -17.0%
Seniors $17.7 $3.0 -83.3%
BUYING TRENDS BY GENERATION% share by generation
FURNITURE AND BEDDING SPENDINGIn billions
Source: Furniture Today’s Consumer Buying Trends
Data on 42MM millennials with rich contact data:
3) Onboard Data to Target Prospects Online
As part of a data onboarding process, matches are made between offline data and online user profiles.
Onboarded Data: Link offline data to online IDs for digital campaigns.
OFFLINE• Name• Phone
number• Physical
address
ONLINE• Email
addresses• On-line
cookies for display ads
• Social IDs
4) Identify Consumers Who May Soon be In Market
New Mover DataAverage new movers per week: 500,000
Average new homeowners per week: 340,000Total file (12 months): 27 Million new movers, 18
Million new homeownersAppended demographics provide neighborhood
attributesEthnicity/language/religion/gender coded
65% with previous address
Pre Mover DataData on pre-movers over a period of 0-6 months, and includes approximately 1.8 million active pre-
movers at any time.20,000 to 75,000 new listings, de-listings, and
changes every day.Data goes through an extensive data append
and hygiene process, including standardization and DPV validation.
Pre-Mover and New-Mover Data: Innovative web mining technology identifies pre-movers and new movers who may soon be in-market for furniture.
5) Boost Customer Acquisition Through Social Prospecting
Social Signaling Data: Monitor social media for furniture purchase signaling
92% of all marketers indicated that their social media efforts have generated more exposure for their businesses. (Social Media Examiner)
By spending as little as 6 hours per week, over 66% of marketers see lead generation benefits with social media. (Social Media Examiner)
Map In-Market Shoppers Near Store Locations
• 38,200 New Movers• 3,700 Pre Movers
Results Around Store Location #1 (20 mile radius)
Social shoppers looking for furniture
137,000 Millennials • 63,800 with annual
income of $50K +
Social shoppers looking for a competitor
Options to Target Consumers with Personalized Offers
Prospects are delivered to you in real-time for targeted campaigns using your channel systems, ad agency, or through DataMentors’ execution partnerships.
Mobile Ads
Email Campaigns
On-Demand Direct Mail
Executive level visualization
of key operational
KPIs.
Profit Ratio Profit vs Goal Profit Trending Profit Forecast Profit by Zip Map Profit by Store
Distance 80/20
Visualization Competitors Best Customers Sales by City Map Sales by
Customer Map Demographics Quarterly
Statistics
Implement Solutions to Measure ROI
Download the Webinar
Download the webinar to listen to the entire audio.