Canadian Tire, Google and Exchange Solutions share their insights
Last week’s Canadian Marketing Association Analytics conference brought together top thought leaders from Canada and the U.S. Representatives from Environics Analytics, Google, Tangerine and Canadian Tire discussed the power of analytics and ways to apply it. Here are a few of the take-homes.
THINK IN TERMS OF “BEHAVIOUR GAPS”
Data not only lets marketers understand the behaviour of customers, helps them find gaps in desired behaviour. Brenda Higuchi of Toronto-based Exchange Solutionsencouraged marketers to look for these “behaviour gaps” and give customers incentives to fill them.
Her team created a solution for Angie’s List, a subscription food and hospitality deals site. They analyzed four different behaviours for each subscriber: renewing subscriptions, writing reviews, referring new subscribers and buying items on the online store. If the algorithm found any gaps in a subscriber’s behaviour — if, say, they’d only written one review after six months on the site — the subscriber would receive a special deal tied to that activity (with the value of the reward tied to a complex calculation about the probability they would take action and the value of the behaviour).
Rather than spraying-and-praying coupon ads to try and boost sales, Exchange developed a solution that drove a wide range of conversion types without wasting a dime on customers who were already buying, or who probably weren’t going to…
