The Three Pillars
For once the song doesn’t speak the truth “Two out of three ain’t bad” - to deliver on the transformational promises of ‘Big Data” and justify the money invested in it you need all three pillars solid and working in harness.
Pillar 1 - The Right Data
It sounds obvious that you need the right data, and with big data warehouses bulging with data it is easy to assume that you must have the data that you need ‘in there somewhere’. Having reviewed dozens of databases in the last few years three things have stood out:
1. Few marketing departments actually use more than 1% of the stored data
2. Often the data stored is not the data needed, warehouses are built with what is easily available rather than what is actually needed for marketing
3. The sheer volume of data makes it difficult for anyone but a highly trained ‘data wonk’ too actually find the good stuff inside the mass of unused and unusable data
We help clients find the data within their business that will transform their marketing and get this data loading into their platform where they can use it. We help eliminate the waste data, speeding up load times and making it easier for marketers to access and use.
Pillar 2 - The Right Models
Models are so much more than the old Segmentations and Targeting Models of the Direct Marketing era.
The arrival of Marketing Automation and ‘Customer Journeys’ has moved having the right Customer Models from a ‘nice to have’ to a ‘business essential’, as without these you cannot get the personalised offers delivered at the right time to drive customer behaviour.
In today’s world of Apps and Push Marketing, delivering near real time offers to people that relate to what they are doing now, self-learning models are key to getting sales uplift.
Simply put – there is no point in getting all the right data into your system if you don’t have the right (accurate) models to utilise it. At MarketDeveloper we help you develop these models, either working with your in-house statisticians, your existing external supplier or developing/sourcing these ourselves.
Pillar 3 - The Right Tech
Companies often spend a fortune buying and implementing a Marketing Technology ‘Stack’. The choice and functionality is frankly bewildering the first time you look at this. The speed of change in the marketplace is fast, and getting faster. Getting the right tech is essential but how do you do this without spending too much or going down a blind alley? How do you tell the difference between all the promises made by the slick sales teams out there?
At MarketDeveloper we use our extensive experience (yes some of us have been in this industry for rather a long time) to help clients buy enough technology but not too much, buying all that functionality that you ‘might use’ in the future is simply a waste of money and a distraction on delivering now.
Experience has shown that clients fall into 3 groups:
1) Often we find that clients already have the technology they need, just not configured the way they need it, we help them achieve the right configuration rather than change the system.
2) Sometimes it turns out that a key piece of functionality is missing, say journey planning or push technology. In these cases we help source and integrate the missing piece that will fit into their existing stack, again without having to change the core system
3) Occasionally a new stack (or large portion of it) is required when changing to a more up to date system. Here (and only here) we will propose a complete solution and where appropriate we will definitely propose our MarketDeveloper V5.1 SCV as the beating heart of the system.