The big reasons to use ‘small-data’ to drive mobile interactions
The world is obsessed about talking about ‘Big Data’ and business strategies to manage this to support customer services and engagement. Here at Fonix, we focus on helping our customers segment their data into smaller, more powerful data sets to drive our partners’ mobile marketing and CRM activity. Our approach gives a communications structure to services and initiatives, focused on driving results against clear objectives. We can quickly understand what campaigns work and what campaigns don’t. Here is what we achieve from our approach to data driven marketing and CRM.
Better understanding of consumer behaviour
Analysing specific data variables allow us to segment users into behaviour groups. Identifying useful relevant data is often the hardest task, once this is achieved, we have a clearer view of how consumers interact with products and service and just as importantly, how they don’t.
Reduced costs
Setting objectives, creating a promotion and promoting to a set of consumers identified through data analysis means we only send promotions to users that are most likely to engage with them. We’ve reduced costs for some of our customers by over 80% targeting only the relevant users for particular activity.
Greater engagement
Whilst we reduce volumes of clients outbound CRM by sending fewer messages, users that do receive promotions have a higher propensity to engage with them — we have seen in excess of 50% of the profiled database respond to a call to action message. We would also expect these users to have higher levels of ongoing interaction with products and services.
Maintaining your database
Sending promotions to users that are more likely to respond to them reduces the volume of users opting out — keeping the communications highly relevant to those users that want to receive them is essential to effective marketing. One of our KPIs is to keep opt outs to a minimum and regularly see less than 2% opt out to a mobile marketing campaign.
This only scratches the surface of what we are doing here at Fonix Mobile. We believe the analysis, interrogation and profiling of focused data sets is paramount when acquiring, retaining and adding value to customers.