Thursday, October 24, 2013

Retailers Can Use 'Big Data' for Bigger Holiday Sales

OK, retailers, if you've been gathering reams of online and offline data about your prospects and customers, it's time to use it to wrap up a holiday sales gift to yourselves. How? A recent MarketingProfs article suggests three tips for using "big data" to deliver a merrier holiday season to e-commerce and brick-and-mortar merchants. No. 1: Combine customer profiles and buying/shopping histories with real-time situational data (location, time/seasonality, limited-time offers, remaining inventory, etc.) and apply that data across devices and channels for more targeted, personalized and relevant promotions in real time (in-store mobile ads, for example). No. 2: Retarget site abandoners with video ads, which drive more engagement than display ads and e-mails--and use data to make sure videos are relevant and timed to the customers' buying cycle. No. 3: Don't stop with customer acquisition. Deliver multi-channel welcoming experiences to new customers for retention, cross-sell and upsell to keep sales flowing into the New Year. For specific implementation ideas, see the article at http://www.marketingprofs.com/articles/2013/11924/how-to-harness-big-data-for-better-holiday-shopping-experiences

Tuesday, October 22, 2013

Will Political Turmoil Scuttle Holiday Fundraising?

Since our politicians "solved" impasses over the federal government shutdown and debt ceiling by kicking the can down the road to early next year, some nonprofit fundraisers, not to mention retailers, express worry about the potential drag on holiday spending. A recent post by Angie Moore in Fundraising Success magazine's blog, urged nonprofits to exercise both watchfulness and calm. Yes, fundraisers did report a drop in giving as measured by immediate channels, such as Internet and phone, during the actual shutdown, and market researchers confirmed the negative impact on consumer behavior: 40% of consumers cut spending as a result of the shutdown, with 32% of consumers making $100,000 and up cutting back and 37% of consumer earning $75,000-$100,000 tightening their belts. Since those income brackets represent the donor targets of many fundraising campaigns, it's not unreasonable to worry that donors might stay conservative with their wallets over the holidays. But what's a reasonable marketing response? We like Moore's advice to 1) first avoid panicked, potentially unproductive changes in campaign strategy and budget; 2) but keep a close eye on metrics (such as open rates, online giving, call volume, pledge and donation amounts); and 3) if you see a reason for concern confirmed by data from vendors and fellow fundraisers, tweak the tactics with quickly measurable results (online, social, and telemarketing, for example). For the full article, see http://www.fundraisingsuccessmag.com/blog/angie-moore-fundraising-government-shutdown