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Industry experts share the mantras for building data equity

Industry experts share the mantras for building data equity

Author | Priyanka Mehra | Saturday, Aug 04,2012 10:12 PM

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Industry experts share the mantras for building data equity

Data is the king, emperor and the starting point, say industry experts. With consumers gaining more power over media and brands there is now greater need for the integration of media without any one media cannibalising the space, but new and old supporting each other.

According to Jodie Sangster, CEO, ADMA & Chair, IFDMA, the introduction of new media has certainly not led to the old media getting obsolete, but what is making DM successful is the marriage of the old and the new media.

Other facets around data management that were covered, included, importance of data analytics and segmentation in getting the right message across to the right target group to increase the quality of ROI.

“Data also makes advertising agencies, marketers, and advertisers responsible people,” observed Winnifred Knight, Member Global Advisory Board, DMAi. He further said, “You can’t just take data and mess around with it, you’ve got to be analytical to get the insights and predict trends for the long term.”

While speaking on driving ROI through customer conversations, Luisa Mazintner, CEO, themarketingsite.com, cited a South African case study wherein how fast food chain Wimpy’s had used sesame seeds on their buns for the blind.

“There will be an emergence of big loyalty programmes and huge growth in mobile as a medium for direct,” predicted Ajay Row, ED, AIMIA. He noted that today, there is realisation that market share does not equal profit share. Moreover, big players of direct marketing are now in India, while there is a critical mass of e-savvy managers in influential positions, which are leading to the growth of the direct marketing in India. However, at the same time the sector was marred by lack of infrastructure and skills set.

“If you don’t use analytics you cannot use DM,” said Sandeep Mittal, MD, Cartesian, while calling DM the ‘new sexy’. He also emphasised on the importance of numbers, making data more relevant, more segmented and ROI driven.

Mittal urged marketers to tap into an important source of consumer profile information, which is email response. “You can tell whether the user is a Mac user or a Windows user, which tells you a lot,” he added. Factors such as clustering segmentation, contact optimisation (that is, limiting the number of times one contacted the consumer to optimise responses), campaign management tools, and post event follow-up test the success of the current campaign before moving on to the next one.

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