Publishers chasing new revenue opportunities have traditionally launched new products to take advantage of niches within their target markets. As time goes by and these products multiply, determining common attributes among the customers these products serve becomes more difficult. Building a single-customer view, a process that reveals common data categories across multiple databases, can streamline database marketing efforts and show potential for new products.
"When you’ve got multiple titles in a single sector, you’re naturally going to have some overlap in the subscription base," says David Hendricks, senior vice president, sales and marketing for ARGI, a subscription and customer management service provider. "What do you know about that overlap? What are the shared attributes?"
Having a single-customer view functionality that unifies the information in your siloed customer databases can reveal, for example, title overlap among subscribers and duplicated customers;two problems that can put a serious drag on promotion efforts. An additional offshoot is the ability to determine common product interests among customers that can reveal new product opportunities, a new event, for example.
Single-customer view can also show successful promotions by channel, penetration of product into the readership, growth in conference registration, growth in subscriptions, and new ad sales;in aggregate or on a detailed, line-by-line basis. "It’s a multi-lens approach," says Hendricks. "You can see a summary number or find all the individuals who fit that attribute."
You can also see savings. "The low-hanging fruit comes from mis-targeted promotions," says Hendricks. "Publishers could see a savings in the 10 to 20 percent range just for mailing costs."
On the selling side, reps are better able to target their sales efforts. "Anecdotally, publishers have said they see a 15 percent pop in selling efficiency," adds Hendricks.