Personalization and the Future of Database Marketing - Michael Stich, Bridge Worldwide - 5-2010

Creating Relationships: Recognizing the Value of Database MarketingMichael Stich,Group Director, Strategic PlanningMichael Stich – Group Director, Strategic Planning, Bridge WorldwideCurrently provides interactive planning to clients. Focus areas: e-commerce, digital retail, analytics/measurement, mobile, social media, and relationship marketing. Published author and featured speaker: E-commerce, the Digital Home, Home Networking, the Future of Broadband, The Asian InternetTechnology and Telecom Strategy / Marketing background (Dell, McKinsey, TI)B.S. in Computer Engineering from Tufts University and an M.B.A. with Marketing focus from the MIT Sloan School of Management.Bridge Worldwide - Key FactsStaff290 Digital ProfessionalsFounded1979AwardsServicesStrategic Planning, User Experience Planning, Visual Design, Technical Development, Social Marketing, SEO, CRM, Emerging Platforms, Account/Project ManagementCultureTop 25 Small Companies to work 4 years running2006, 2007, 2008 & 2009Cincinnati (HQ)New York302 West Third Street498 Seventh AvenueSuite 900New York, NY 10018Cincinnati, OH 45202Main: 917.224.9573Main: 513.381.1380Bridge Worldwide – Our DifferenceDatabase Marketing:Why Bother?Consumers have unprecedented choice and controlWhat I want,When I want it,Where I want it,In the forms I want,As much or as little,Filtered by my peers,Backed by expert opinion,Without unwanted interruption,And then I’ll share it with my “friends,”But don’t you dare tell a soul you know me.Result: Marketers expected to respond –using data and personalization•Clients increasing their analytics resources across marketing and IT•Data quality control growing more important•Resulting Winners: those who know and focus on data reliability•Resulting Losers: those who fail in-market measurement validationDatabase Marketing:The BasicsWhat Is Database Marketing?Database marketing is a form of direct marketing using databases of consumers or potential consumers to generate personalized communications to promote a product or service for marketing purposes. Database marketing emphasizes the use of statistical techniques to develop models of customer behavior, which are then used to select consumers for communications.But the opportunity is much greater…Create an ongoing, 1:1 relationship with a large, diverse population