MIG love a data challenge

News

Wednesday, 13 April 2011 14:03

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.

 

Multi-channel marketing

News

Tuesday, 29 March 2011 12:19

Are you aware that a multi-channel shopper spends 15-30% more than a single-channel shopper, according to IDC. Nowadays, in spite of everybody ‘knowing that’ few people seem to apply it to their businesses. It isn’t rocket science; if a retail customer walks out of the store with an online voucher that can only be redeemed online then guess what...?

New channels are constantly developing and the 2011 Unica Marketing survey found that 85% of participants are using or planning to use email software and it will be further integrated with other channels including mobile marketing and social media. MIG have been an integrated part of Debenham's multi-channel marketing for several years.

The current trend is for shoppers on the go to access several different channels simultaneously. Integrated channels allow customers the opportunity to interact with your business how they would like, for example customer receives a text or email prompting an action to purchase, visit the store and take a snap of the barcode, then compare prices online and connect to a social network for opinions. The customer then has the option to purchase in store or online.

Click here to see our case studies.

 

Do you know how much a new customer costs you?

News

Tuesday, 29 March 2011 12:16

When times are tough recruiting more customers often seems to be the attractive option, but at any cost? Budgets will be tight if not now in the near future, so customer acquisition may be helpful but there may be better uses of marketing budget. The first question you should ask is do you know how much new customers cost you? Why not work it out; divide the marketing budget by the total number of customers you recruited last year and that is a good start point. You'll see that if you are trying to keep costs to a minimum then customer acquisition may not be the most suitable option. Customer retention may be where your focus should be and it is possible to have a recruitment campaign that also doubles as a retention programme.

Our Customer Farming® process suggests that there is no point in recruiting new customers unless you are going to hold on to them. Bain and Company have suggested that a 5% improvement in customer retention can increase profit by between 35% and 115%.

Trial purchasers buy less because it is a test purchase so they are judging the quality and service. You will also find that trial purchasers are more likely to buy one product and not browse the rest of products on offer. You need to ensure that you take the appropriate action to ensure that trial purchasers become regular customers and that means planning a customer journey and building a process. If you know something about your customers, through a database of details and preferences, it is easier to get more out of them through targeted communications and tailored offers. In overall terms, we've seen time and again that the cost of acquisition is five times the cost of retaining an existing customer and existing customers spend twice as much as new ones.

Click here to see our Shell case study.

   

Online sales look promising

News

The latest IMRG Capgemini e-Retail Sales Index has shown a positive start to 2011 with online sales for January 2011 up 21% and sales reaching over £5billion. There's also evidence that shoppers spent most with multi-channel operators, suggesting that cross channel marketing is popular with British shoppers. IMRG reported that multi-channel spending jumped a significant 30%, while online only grew just 8% compared with January 2010.


MIG have a strong heritage in the retail sector, particularly with multi-channel retailers.  We recognise that multi-channel is very important for long-term strategy and our digital solutions and data expertise can develop these new marketing channels. MIG can use expertise to gain retailers increased conversion rates through advanced digital marketing and data management techniques. Our iBrochures are an interactive and fresh approach to online purchasing and/or marketing. In addition to this, e-MSG2 is an outstanding email platform that can upgrade the sophistication of your email communication, improve deliverability rates and reduce your costs. MIG’s data management team offer a range of services to build and maintain a reliable database to inform successful targeted marketing and customer engagement.

Get your web presence and marketing strategies growing along with this trend, call Gemma Duggleby on 0800 031 9679 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

 

Liverpool Boat Show

News

Wednesday, 23 February 2011 13:51

Liverpool and the Liverpool Boat Show organisers have a lot to be proud of in spite of the cancellation of the inaugural show.

It was hugely disappointing news when we heard that the Liverpool Boat Show wouldn't be going ahead. We had been involved from the beginning providing online iBrochures, email newsletters and prospect databases to target, galvanise interest and enable the show organisers to secure bookings.

"We had built a unique database of all businesses involved in the 'boating industry' and then set about using digital and direct marketing to augment trade press to gain interest and help people see the huge opportunity that the Albert Dock and Liverpool provides," said Rob Bielby, CEO at MIG.

"Phase 1 the trade, was completed at Christmas and we were well on track to deliver phase 2 which has involved the building of a database of people interested in boats or with likelihood or capability to buy one. Our aim was to ensure that every prospective purchaser of a boat knew about the show and got the opportunity through never seen before, pre-show marketing, to find out more of what was of interest to them. Alongside this we had also started the process to recruit corporate sponsorship and hospitality support amongst the corporate world based in the North West and beyond. Our final phase was to have been the capture of data related to the show itself so that future events could be a re-union of the community that would have made this show a success.

For us every marketing project is special and we care as though we are part of our clients' business and we have a reputation for going the extra mile or finding new more efficient ways of marketing a business. For more information on how MIG can help you create more profitable customers, please contact Gemma Duggleby on 0800 031 9679 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

   

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Registered in England & Wales. Company No. 06963849.