15 Of Your Data Questions Answered

06/23/2015


1) What’s the biggest difference between data marketing 10 years and ago and today?

There’s a lot more data, especially with the advent of Social Media. This communication stream is important because as more and more people emigrate to it marketers can not only learn more about them but they can also reach them in real time. Telemarketing, email and DM are still very important communications channels but since the majority of communication is now taking place online marketers must change the way they think about storing and using all of their data.

2) If a marketer wants to grow their database, what would you suggest they do?

Understand what’s already in your database and who your best customers are now and who they will be five years from now. Partner with associations and suppliers related to your business.  Research and secure quality 3rd party data sets and add some of this data (that mirror your best customers) to your database. Offer a bonus or a discount to those of your customers who refer a new customer. Get a good data provider; provide them with solid information about your company’s best customers, your desired target market, and let them recommend appropriate quality data and marketing channels.

3) What are the most popular data enhancements?

We find the most popular are age and income, but other popular ones are presence of children, home ownership and hobbies/interests.

4) What kind of organizations tend to monetize their list/data? Is this a fit for my organization?

Most publishers, cataloguers, fundraisers and consumer survey companies put their customer lists on the rental market.  It makes a lot of sense to recover some of the costs they have incurred to develop their lists in the first place.  If you’re considering monetizing your list, contact Cornerstone first.  We can quickly give you an assessment of its marketability.

5) Why is becoming a data partner with Cornerstone a good thing for marketers?

Cornerstone is a one stop shop for a Marketer’s data needs. We broker, manage and analyze data every day. We are Canadian experts with a reputation of being experienced and innovative.

6) What are you doing to ensure that all data/list info is privacy compliant?

All of our list owner Clients must sign a document stating that they warrant and represent that the media properties that Cornerstone markets on their behalf are compliant with Canada’s Personal Information Protection and Electronic Documents Act (PIPEDA).

7) Are you continuing to work with new types of data?

Yes. We have just built a new product that combines the email addresses of some of Canada’s largest daily deal, promotional and survey companies with over  10 million consumer postal addresses that are exclusive to Cornerstone and updated either daily, weekly or monthly.  This data set will allow advertisers to target qualified prospects in both offline and online channels, enabling them to conduct different  campaign to the same prospects using  any or all of Email marketing (100% CASL Complaint), Facebook advertising, Online Display Advertising, Direct Mail, Telemarketing and Unaddressed Admail.

8) What’s your prediction of the future of data in direct marketing?

Data is becoming ever more important and valuable. Companies are building larger more complex databases of customer information and this will grow immensely in the years to come. In order for marketers to reach new customers their need for new data will grow and so will the customer’s acceptance of marketers using their data.

9) What’s the different between a list rental and a data license?

List rentals are for a one time use of data for a specific marketing campaign. A data license provides the marketer with data that it can use over a set period of time for a variety of pre-specified purposes.

10) Explain Cornerstone’s various Data Products in three short sentences!

3rd-Party Specialty Lists.  Compiled National Lists.  Pre-Packaged Customized Combinations of these.

11) When using Analytics how important is the Data?

Your data is the most important part of your analytics. Yes, it is essential that you use a good tool, such as SAS Visual Analytics, but if your data isn’t clean, up-to-date and information rich, you aren’t going to be able to target your audience any better. Cornerstone can offer you sophisticated data cleansing services.  We also can provide you additional meta-data and, of course, top notch analytics.

12) What kinds of digital data are available to me?

Through Cornerstone you have access to some of the best CASL-compliant email addresses anywhere.  Also, re-read our answer to question 7 above.  This is a very exciting opportunity for any marketer. We can help you even further by deploying tools that can extract information about your customers as you’re interacting with them online.

13) What’s the most efficient way to manage my data?

If you want to be able to access, in real-time, the data that you are acquiring and perform analytics on it, a traditional database/data warehouse might not be able to handle your requirements.  They tend to be rigid and don’t focus on the end user as much as the data. Using something like Cornerstone’s Agile Marketing Database Solution will tackle your growing volume of data, and the various sources and structures of that data.

14) What are the different types of structure my data might come in?

This is a great question and goes to the heart of how you will be required to deal with data in the future.  The simple answer is that some of the best data in the future will be accumulated in many different formats from many different communications channels. It will be structured, semi-structured and unstructured.  To maximize its use for marketing you must be able to quickly make sense of it.  That’s why Cornerstone has recently added Hadoop to our suite of products and services for our Clients. Check Hadoop out!

15) Is it possible to keep all of my customer data in one database?

It may be possible but it’s unlikely given the multi-legacy databases that most organizations currently have, and the new sources of data that will proliferate over the coming years that won’t easily fit into current database structures.  That’s why it is so important to have an inexpensive easily-deployable Agile Marketing Database that sits on top of your databases.  Its job is to extract, analyze and integrate the data you need from each of your databases to maximize your marketing campaigns.  Cornerstone has a great Agile Database product that we use to meet the needs of our Clients.

Do you have more questions about data? Contact us today to find out more!


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