Data-Drive Product Development
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Presented by Ian Eckert Managing Director, Audience Development Data-driven product development
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Transcript of Data-Drive Product Development
Presented by Ian Eckert
Managing Director, Audience Development
Data-driven product development
Product development
in the digital age
Don’t just follow the herd
Focus on Frank FRANK
Weight: 128 kg
Interests: Eating grass and wandering the plains of the Serengeti
Then select your segments
John
Interests: Eating grass and sleeping
Nigel
Interests: Sleeping and breaking gnusSusan
Interests: Eating grass and LETs
If you understand the customer really well, your
brand and the connection you have with the
customer via the brand relationship becomes even
more powerful. You can offer lots of different
products to monetise that relationship in lots of
different ways*
ANDRIA VIDLER, CEO CENTAUR MEDIA
“
*Source InPublishing Jan/Feb 2015
Audience Engagement
Data Gathering
PersonalContact details
Billing address
DPA preferences
Data Farming
DemographicSalary
Job title
Company
Preferences
Data Farming
BehaviouralLogins/visits
Platform usage
Content preferences
Engagement levels
Data Farming
TransactionalProducts and services provided
Purchase history
Payment preferences
Data Gathering
Third PartiesSocial media activity
Connections
Social logins
Case study 1: Using data to
develop a new product
Data point 1: Increased in interest from Europe
Date point 2: Increase in traffic from SE Asia
Company profile-type data
Product creation
Europe South East Asia
Gating Regime
Europe Europe
South East Asia South East Asia
New Product Structure
The Result Increased Revenue
Increased Audience
Case Study 2: Using access
control to optimise data quality
Periodic updates – good but not sufficient
Use on-going activity to prompt data refresh
+
Reconfirm details for continued access
Reconfirm details for continued access
John Smith
Job Title
Salary
Address
Assistant Director
£72,000
6 Primrose Street
London
NW1 3ET
John Smith
Job Title
Salary
Address
Assistant Director
£72,000
6 Primrose Street
London
NW1 3ET
Reconfirm details for continued access
John Smith
Job Title
Salary
Address
Assistant Director
£72,000
6 Primrose Street
London
NW1 3ET
Market Sector
No. of employees
Reconfirm details for continued access
John Smith
Job Title
Salary
Address
Assistant Director
£72,000
6 Primrose Street
London
NW1 3ET
Market Sector
No. of employees
Property
50+
Reconfirm details for continued access
John Smith
Job Title
Salary
Address
Assistant Director
£72,000
6 Primrose Street
London
NW1 3ET
Market Sector
No. of employees
Property
50+
Access permitted based on data currency
Case study 3: Using data to
drive renewal optimisation
Increase in tablet use prompts new product
Premium digital package developed
+
Initial engagement prompted
Transactional and behavioural data analysed
Ensuring value for money
Ensuring value for money
5 keys to data-driven product development
• Comprehensive dataset: Access to a joined-up view across
all customer inputs
• Data currency: Data quality is critical to operational
effectiveness
• Actionable segmentation: Integration of data with
operational systems
• Differential gatekeeping: Ability to present different
product paths based on segment
• Contextual messaging: The right calls to action at the
optimum time
Virtuous circle of data-driven product development
Capture Data
Develop tailored
product
Market product
Fulfilment
Ongoing analysis
of response to
product
Update the product
based on audience
behavior
ADvance – complete audience development platform
ADvance
The figures speak for themselves – in October year-on-
year sales growth was running at 383%, graphically
demonstrating both the improvements in the sales
funnel and the new product and cross-sell opportunities
that ADvance has offered us
“POLLY KNEWSTUB, HEAD OF
BUSINESS DEVELOPMENT
CHRISTIE’S INTERNATIONAL
MEDIA DIVISION
Our Clients
www.abacusemedia.com
+44 (0)20 7766 9810
Chancery Exchange, 10 Furnival Street, London, EC4A 1YH
Thank you for listening
Ian Eckert
0207 766 9818
