MIG love a data challenge

News

Over the past week we have been given a 'slice' of one of the biggest retail databases in the UK. The owner wants us to demonstrate how we generate sales from old or dormant customer details. We solve problems with customer data with the sole purpose of increasing sales and we are at our best with data problems that don't seem to go away despite the best efforts of over burdened marketing teams.

Slowly but surely we are finding more companies that are thinking more laterally about how to generate income from customer data and how to spot latent value. Most often the latent value is in older customer data that has slipped off the radar but is still within the business.

We specialise in a 2 phase process of 'revitalising' older customer data and then devising added value strategies and it was this combination that exercised the retail giant mentioned above.

Revitalising the data is the easy bit. The sales come from the time we spend in store and online looking at opportunities for customers past, present and future to engage in securing added value because we all know from our own shopping experience that if a customer feels they can achieve greater added value through making a purchase than they can by holding back they will invariably make the purchase. Supermarkets have been working this way for years and we tap into this behaviour to reactivate old, fragmented or dormant data.

Some say our ideas are good and it is certainly the case that our appointments are. We ensure this by putting our directors under intense pressure to guarantee to the people they meet that the one hour they spend with us will be the best hour they have that day. We found that it is good to give our directors something to live up to, so we make the absolute commitment to everyone we meet that they will leave the meeting with more ideas about how to make money from data than they could secure from anyone else.

Big companies have big unwieldy data sets that cannot help but fall into disrepair and when they do the company loses sales. You may come across a good portion of customer data that isn't doing what it could in terms of generating revenue. The reasons will be myriad and in truth don't matter. What matters, is that if you find it and decide to do something about it, you have the opportunity. Everyone loves a problem solver.

If you have any customer data that you feel is underperforming we would be delighted to meet you.

The Marketing Innovation Group Ltd.
PO Box 427, Knutsford,WA16 1EH
Registered in England & Wales. Company No. 06963849.