The book “Big Data-Driven Business” suggests that some 90% of marketers are paralyzed by the bewildering amount of choice within the marketing technology (martech) ecosystem, while the other 10% are “using technologies to create incredible changes to the trajectories of their businesses.” So what separates the ‘movers’ from the ‘shakers’? According to Russell Glass, Head of Products, Marketing Solutions at LinkedIn, “the 10 percent tended to start with the customer. They tended to look at the personas of the people they were going after, the types of companies they were going after, and they asked themselves a simple question, ‘What kind of experiences do I want to create for these customers?’”
Russell discusses using Big Data in crafting a relevant customer experience and destroying churn rate in this episode of Moneyball for Marketing. Key Concepts include:
Customer Flight Check: Before you start investing in martech, says Russell, stop and consider the customer experience you want to create. With the example of United Airlines, we learn what constitutes an amazing experience and how this approach enables unifying data from different parts of an organization.
Needle in the data stack: “The power of big data (is) in helping us not only understand more about our customers, but understand more about our future customers,” says Russell about predictive analytics. He explains look-alike modeling and how predictive intelligence means better marketing-sales alignment. He then shares how this approach dramatically reduced an unsustainably high churn rate for Eloqua.
Relevancy imperative: Communication on mobile devices is much more personal than on desktop devices. Get it wrong and you can do huge damage to your brand. Get it right and you can earn the respect and loyalty of your customers. Russell explains how to make your mobile martech activities relevant, in order to reap the rewards of “right message, right time.”
Russell Glass is Head of Products for Marketing Solutions at LinkedIn. Russell’s focus is to deliver industry leading products to help marketers get to the right professionals while improving the online experience of LinkedIn members.