We continue to explore the process of making money with data. What are the two main ways we can make money with our data? Improve the List and/or improve our Offer. It all boils down to that.
Paul Zikopoulos, IBM http://www.youtube.com/watch?v=B27SpLOOhWw. Watch both of his videos - big data is bigger than you ever imagined. For Hudson's Bay, we'd loaded 250 million transactions (not 250M). @JRMigs
Tuesday, October 16, 2012
Good Data in BigData?
How to Find the Good Data in Big Data
There’s one thing wrong with Big Data. A lot of is is “a little big like overhearing a conversation,” says John Miglautsch, chairman of Miglautsch Marketing Inc., in the second in a series of videos on data. .
Ray Schultz contributes a summary of my second video in the series 'Making Money With Data'.
Ray Schultz, journalist and author, has written so much about marketing that he is now a marketer himself. He has launched TellAllmarketing, an agency specializing in content marketing.
TellAllmarketing is devoted to the idea that relevant, well-done content attracts leads and moves them through the B2B purchase funnel. We produce white papers, case studies, email newsletters and other forms of content for clients like IBM Netezza, KBM Group, InfoGroup, NextMark and Reach Marketing.
Founder Ray Schultz has solid grounding in both marketing and journalism. As editor of DM News, he tracked the growth of direct marketing as it evolved from a business backwater into a global force embraced by Fortune 500 companies. From there, Ray moved to Direct, where he documented the online and CRM revolutions.
Tuesday, October 2, 2012
Spinning Straw Into Gold (overview)
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| Find out why so few turn their data into money and also how to do it. |
It IS possible to turn data into money. I’ve seen millions of extra
dollars generated on one mailing, catalog response rates of over 100%
because of modeling. In the past 6 years, we have beaten 8 modeling
firms in 11 massive tests... Gold can happen, but it generally does not
happen. People think it is a systems problem and it is NOT a systems
problem. It is a thinking problem, it is a brain problem.
Consider
the Grimm's story of Rumpelstiltskin. A miller says his daughter can
spin straw into gold (a big lie). The king sends for the daughter and
says, “Here is a room filled with straw. Spin it into straw or you die
in the morning.”
more...
Just posted a short version of my book Spinning Straw Into Gold finished the audio recordings today as well.
Why am I promoting a book that is almost a decade old? When I first wrote this, I knew that I was on to something. Being largely self-taught in statistics and modeling, I kept being amazed that we not only beat mature mailers, but also seasoned modeling companies. However, since we have continued to pile up wins (so great that we've been accused of 'cheating') I knew I needed to reiterate WHY our system WINS. It is because we think about the process and have spent over 20 years molding and perfecting a system to achieve it. Last week I opened our doors to a company that builds databases. We spent a day showing them everything we could. Why? Because this isn't a system that can be easily copied, even if the technology were simple (it isn't) it could take years to prove that it was working as expected... then more years to run all the tests which ours has won. In addition, it incorporates so much that we have learned from our world class clients - yes, we also include their variables in their systems. There is a reason why it works and the time has come to share this amazing breakthrough.
Look over this article and see if it makes sense... and if it does, perhaps we should talk about how you handle your customer contact system.
I'm working with Author Marketing Club to promote my book on Kindle - click this picture to check it out.
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