The latest perspectives on data, sales, and customer success
After many months of preparation, we are proud to announce our new website! Over the years, we have learned a great deal about the challenges faced by marketing professionals, sales managers, and analysts. We hope the new site will not only tell you about Canopy Labs, but also help you become successful in your roles.
This week I had the privilege of speaking at the Chief Data Office (CDO) Summit in Toronto. While Canopy Labs work aggressively with companies across all industries and revenue sizes, the CDO role is still relatively new to most organizations. In many cases, companies are still determining what a CDO should actually do, and how they should function within the broader scope of the organization.
Given the multitude of challenges that any executive experiences in a new role, we thought it would be helpful to summarize some of the ways we see best-in-class CDOs achieving their goals and growing their influence within the companies they are in. The strategies below are meant to be achievable within the proverbial “first 100 days” of the role, and will help new CDOs win the hearts, minds, and P&L priorities of the business.
If you work in industries such as finance, luxury retail, or non-profit organizations, then you can probably relate to the difficulty of identifying high net worth individuals for your organization. Whether you’re seeking a significant contribution to your latest fundraising campaign, or new clients to reach out to, these individuals represent important opportunities to expand your revenue and grow your customer base.
But how do you actually identify these potential customers for your organization? Most individuals are discreet about their assets and personal finances, and uncomfortable about sharing this information with third parties. Oftentimes, companies estimate the net worth of individuals based on average home values of their residential neighborhoods, or through third-party research firms that are commissioned to conduct surveys.
Centralizing customer data is hard – and one of the most common IT challenges for companies of all sizes, from 10-person eCommerce startups to billion-dollar retail operations. Harnessing customer data requires buy-in from all sides and can be overwhelming at times – but for the businesses that get it right, the outcome can present immediate and long-term returns. To succeed in this area, businesses need the right approach toward data collection and storage, analysis and action, security, governance, and even company culture.
Earlier this month, we wrote about 6 triggered email campaigns to help you boost your sales. We received a great deal of interest from the post, so today we wanted to share how to put triggered emails to work for your business.
In particular, product replenishment emails are a great example of using triggered emails to drive sales. Many everyday products that we use have a natural lifecycle and require replenishment for continued usage. For example, if you are a regular user of contact lenses, you’ll know that you need to replace your supply of lenses on a set schedule. The same sort of patterns can be found for a variety of products, from fashion to electronics to pharmacy items.
This morning, the Financial Times published an article on the dismal state of retail — Staples, Dick’s Sporting Goods, JC Penney, and others are all struggling. In large part, these challenges have been driven by a growing number of consumers moving their purchases online. With the move to the web, traditional retail is forced to compete with wholesalers, web-only discounters, and of course, Amazon. In fact, offline retailers now have the added challenge of serving consumers who enter their stores to browse, but make their purchases online from home. Not only are these consumers not spending money in-store, but they are buying the same products at competitive sites.
If you run an online store, then you already know that triggered email campaigns should be a key component of your sales, customer service, and brand awareness strategies. Personalized trigger emails are opportunities to cross-sell your products, engage your customers with your brand, and reward your most loyal fans with special rewards and recognition. Best of all, they require minimal configuration on your end and run on their own after you set your business rules!
Regular readers of our blog might have noticed a lack of updates over the past few months… Worry not, fellow Canopy Labs fans, we’ve just been busy growing the business! And now we’re excited to share some of the good news with you.
Like it or not, the term “Big Data” is here to stay and every day sees new businesses building on the trend. Many promise to boost sales, drive productivity, and help executives and junior staff make sense of all that is “Big” and all that is “Data”.
Very few companies veer away from this type of marketing message, but those who tactfully and effectively market in this space, do so by building a vision and idea around how data change the world. This year will likely see more data-oriented companies than any other time in human history, and we decided to choose the ones that paint a portrait of the future in a positive and exciting way.
First and foremost, the team at Canopy Labs wishes all our readers, data scientists, and customers a happy holiday season! It’s been an amazing year for Big Data, analytics, and IT — and we’re excited with where 2014 will lead.
If your data science team is anything like the ones we’ve seen, they’ve likely seen a busy 12 months. Whether they’re implementing a new data warehouse, generating models to target cross-sell opportunities, or simply updating executive-level reports, data-oriented roles are becoming more important and significantly busier. If you’re getting gifts for your data science team at the end of the year, here are five we recommend for any data scientist on your list.