A coworker sent me an article about collaboration between Google and SAP that allows SAP customers to overlay Google Earth and Google Maps information to manage “big data.” It’s a really interesting concept and if you are curious you can read about it on TechCrunch. It seems like every day we get a groovy new analytics tool or new social media platform to connect businesses with other businesses or businesses with consumers or Twitter with my cat, but a lot of organizations seem to be missing out on some of the basics when it comes to marketing. In other words, as people get new toys, organizations may appear to overlook the basic tools that helped make them successful in the first place. I have quite a number of examples, but the two below are a great illustration of how applying the most basic in-house information tools can help to reduce waste and better target your customer or donor base before using advanced analytics tools to improve your reach within a specific market.
It’s only taken us three years (a long time in married years) to finally consolidate my car insurance with my wife’s insurance. Yes, we should have done it a long time ago, but in our defense we were really busy with not doing it. Within two weeks of the new plan, I received a mailer offering to lower my rates by switching to the exact same insurance company. Although I brought it in and set it next to the refund check for my new insurance (an additional $20 discount!), it’ll be going straight into the recycling bin. I just got your insurance, I suppose I could up my coverage to protect my amazing sports-themed gnome collection, but I’ve got nothing to switch.
In the same vein, my wife and I have a credit card with an airline rewards program. We’ve had this card for quite a while now and use it fastidiously for frequent flier furlongs (1/8 of a mile if you are scoring at home). The rub however is at least twice a month I get fancy mail pieces offering a free checked bag if I get the credit card that I already have along with a couple of emails with the same offer. And the emails link to the website where I often purchase plane tickets with this same credit card in question. Actually, if I combined the mail pieces with printed copies of the emails I get with the same offer, I’d have enough paper to fill my free checked bag.
I’d assume that a large insurance company and a major credit card company and airline would leverage some of the most powerful tools in the technology world to ensure they wouldn’t make the mistake of sending me offers for products I already have. Turns out they don’t. Instead, they could save a few bucks by doing a duplicate elimination between their customer databases and the prospects they are trying to target. It would cost them a heck of a lot less money to clean their customers from a prospect list than it costs in printing and postage in an attempt to convert people already using their products and services.
It’s often the simple things to eliminate waste and create good interactions with clients and prospects that make the biggest impact. While it is super-cool and really useful to be able to drill down on your business data with Google Maps, it’s probably more valuable to be able to identify those who are already using your service—then ensure you are talking with them in a way they prefer and are more receptive. You need technology to accomplish those things, but it doesn’t have to be bleeding edge. Make sure you are getting the easy stuff right, and then move on to the cool toys.
Now if you’ll excuse me, I’m off to my underground lair to invent a cat with laser beam whiskers.