3. Test & Learn – The final step in our approach is to get out there and execute. Begin with leveraging your Customer Intelligence analytical solution to understand who would be the right candidate customers for the actions and results you want to achieve. Start small with several test and see how they perform. Make sure that you set up a way to measure the test, either through inferred or a direct response. Based on the results of the test, you can scale the marketing activity as appropriate to achieve the results you want.
Your customer intelligence analytical solution will provide you with the insights you need to enable you to monetizing your customer through actions that best support your business. You will find that the solution is a journey and will grow and mature over time as you achieve success with your customers and win in the marketplace.
Andrew Roman Wells is the CEO of aspirent, a management-consulting firm focused on analytics. Kathy Williams Chiang is VP, Business Insights, at Wunderman Data Management. They are the co-authors of Monetizing Your Data: A Guide to Turning Data into Profit-Driving Strategies and Solutions. For more information, please visit www.monetizingyourdata.com and www.aspirent.com.