I was walking into The Bay and a gentleman approached me saying, "Sir, would you like to register for the Hudson Bay Rewards Card?, You will receive 15% off from your order today," my immediate response being the bargain hunter that I am, immediately filled out the application and answered a few questions about the company and its customer service, 3 weeks later received the card in the mail along with some other information about products that I was interested and I was really surprised. That day, I had used the Bay Rewards Card to purchase a cologne and some clothing and when I received the package in the mail, they provided the card and a personal letter written to me informing me of specials in this product category.
More and more companies are beginning to collect, analyze, and deploy their marketing strategies through micro marketing techniques in order to address the needs of each individual consumer. As we become more trained and exposed to mass marketing, our expectations are rising of what we expect to actually entice us to purchase a product &/or service.
If you look at all the major players in the marketplace today, you will see that they have incorporated the use of data mining for the use of customer relationship management and it works. Honestly, who doesn't like the fact that a store knows what you like in the case of Amazon (they recommend books to you based on your search results and previous purchases), or in the case of Shoppers (the use of your optimum card in Japan allows them to send you a coupon 1 week before your toothpaste runs out!!!!). Thats just taking it to the next level and its only going to get better.
Some people might find it invasion of privacy but marketing in the 21st century has become a two way interaction between the suppliers and the consumers. We demand what we want and they have to provide it to us because they need our money. It is very simple and a savvy marketing manager will try and understand the benefits that we are looking for and incorporate that into their marketing mix before carrying out a marketing campaign in order to reel us into making purchases.
Yes, it all comes down to stats and regressions, probabilities and functions to test the hypothesis that these managers are trying to solve to see what we want. They had the data set and they are mining to find the pot of gold. The pot of gold comes from finding the answer that helps them structure a campaign that gets you and I to buy their product without thinking twice about it.
For those of you who did not know about data mining, consider yourself told. It gets even more advanced when companies place cookies in your computer to watch your search habits and find out about what you are doing and when you are doing it. Kind of scary to think about that but Google is the King of Cookies. Thats why we love to use it for conducting searches and that is why every business that wants to get themselves known on the web marketplace has to go through the search engine optimization and marketing process.
Kudos to you Google! They are not number one because they just made a search engine, they are number one because they are the best miners in the world!
More and more companies are beginning to collect, analyze, and deploy their marketing strategies through micro marketing techniques in order to address the needs of each individual consumer. As we become more trained and exposed to mass marketing, our expectations are rising of what we expect to actually entice us to purchase a product &/or service.
If you look at all the major players in the marketplace today, you will see that they have incorporated the use of data mining for the use of customer relationship management and it works. Honestly, who doesn't like the fact that a store knows what you like in the case of Amazon (they recommend books to you based on your search results and previous purchases), or in the case of Shoppers (the use of your optimum card in Japan allows them to send you a coupon 1 week before your toothpaste runs out!!!!). Thats just taking it to the next level and its only going to get better.
Some people might find it invasion of privacy but marketing in the 21st century has become a two way interaction between the suppliers and the consumers. We demand what we want and they have to provide it to us because they need our money. It is very simple and a savvy marketing manager will try and understand the benefits that we are looking for and incorporate that into their marketing mix before carrying out a marketing campaign in order to reel us into making purchases.
Yes, it all comes down to stats and regressions, probabilities and functions to test the hypothesis that these managers are trying to solve to see what we want. They had the data set and they are mining to find the pot of gold. The pot of gold comes from finding the answer that helps them structure a campaign that gets you and I to buy their product without thinking twice about it.
For those of you who did not know about data mining, consider yourself told. It gets even more advanced when companies place cookies in your computer to watch your search habits and find out about what you are doing and when you are doing it. Kind of scary to think about that but Google is the King of Cookies. Thats why we love to use it for conducting searches and that is why every business that wants to get themselves known on the web marketplace has to go through the search engine optimization and marketing process.
Kudos to you Google! They are not number one because they just made a search engine, they are number one because they are the best miners in the world!
