The Holy Grail of Data Analytics!
It has been rumored for years. Some have even claimed they had one, only to disappoint. Certainly someone will bring this mysterious beast to the market…right? It has to happen.
For the sake of every well-intentioned marketing officer in financial services – please confirm you have seen the Yeti of Data Analytics, an automated MCIF with a fulfillment engine!
Yes, Virginia, there is a Santa Claus…er… there is such technology.
This is the Holy Grail. This is what “Big Data” promises to deliver, but for a fraction of the cost.
An automated MCIF analytics tool, with an equally automated direct marketing fulfillment engine, is the answer for every bank and credit union not named Chase, Bank of America, Navy Federal, etc…
Why? Does any marketer even care about data analytics these days, especially in the face of social media and other “the future is now” technologies? They should.
Ask Google and Amazon and every other big retailer why they rely on data so much. Here is why it matters: client behaviors are predictive. If you know who does what, why and when, then you can leverage this intelligence to sell stuff by making selective, effective offers to clients and prospects. Lacking hard data, we have to fall back on simply trusting our gut. Or maybe we simply copy the next guy…and you know that’s not a good plan.
So, how is analytics done now and why does it need to be fixed? Today, collecting, analyzing and taking action on data is not only time-consuming, but it requires intelligent human interaction and decision-making. What if this process could be completely automated?
Alexander Graham Booyah!?
Before: Marketers must invest their time and expertise and action to have success. If you have a classic MCIF analytics tool, your life plan is chaotic each month. Find the account data offered up by your I/T staff for importing to the MCIF out on the network. Import said data (hoping that all of the fields sync properly, otherwise, all bets are off), validate the import, and run monthly reports. Analyze these reports to discern valuable intelligence and potential action items or marketing events. Filter the database to create a mailing list. Create a “marketing campaign” within the software. Send the list to a printer. Design or approve creative. Send direct mail to a pre-defined list. Wait 30-60 days to check the results of your campaign.
After: With an automated MCIF/data analytics, marketers do nothing – the system does it all for them. Your data is automatically updated for you daily: reports are run automatically, pre-defined behavioral triggers and predictive tools automatically select clients and prospects who qualify for specific mailings daily, and each is mailed/emailed an offer the next day. All of this happens automatically, every day. Hands-free marketing. Marketers no longer have to feed the beast – the technology works for them automatically, in the background, and yet is still available for additional sophisticated analytics.
Magic. Isn’t this magical? Finally technology has arrived that delivers what data analytics has always been expected to deliver; completely automated (soup to nuts) database analytics and action! As TV gadget-inventor-pitchman Ron Popeil might say… “set it, and forget it!”
It isn’t a rumor. It is reality. I dare you to click here.
Jay Kassing
President
MARQUIS