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Tuesday, 23 February 2016 16:34

What Is Data Mining Anyway?

In an age where personalised and targeting marketing campaigns are gaining momentum, data is king. Many companies have been collecting customer data for many years, storing it in an ineffective database and leaving it to grow.

This is an untapped resource. A huge asset. Unconverted profit.

But how do you tame the unruly beast that is BIG data and convert it into hard-hitting, successful personalised mail campaigns? The answer is data mining and the good news is we can do it for you.

Data mining by definition

Data mining is the practice of examining large amounts of data in order to generate new information, identify trends and highlight relationships, through a painstaking process of sorting, grouping, streamlining and arranging.

When it comes to information titivation, slow and steady certainly wins the race, which is why many businesses opt to outsource the work rather than creating an in-house data mining operation.

What can data mining do for my business?

Whether you’re embarking on your printed marketing maiden voyage, or you simply feel ready to switch from generic to personalised messaging, data mining is the key to getting it right – and getting it right increases ROI.

Gone are the days of scattergun marketing, where you throw your ‘spring sale’ or ‘new product range’ messages far and wide hoping it sticks in parts. Cultivating your data, identifying key demographics and employing the art of customer profiling enables you to advertise your sale to the right person and only the right person, reducing wastage, generating leads and increasing ROI.

The retail sector is leading the way in making the link between data mining and targeted marketing, with many brands drilling down so far that they can quickly and easily match each target demographic to the right promotion, product range or trend. This is an enviable vantage point, which hones marketing spend, maximises untapped opportunities, promotes brand loyalty through empathy or perceived friendship and yes, you guessed it, increases ROI.

So you want to try data mining for yourself?

Have you got an untapped data asset? Do you glance at every so often but quickly retreat to the safety of other tasks? Trust us, you’re not alone.

Lock Stock is a member of the Direct Marketing Association (DMA) and has partnered with the likes of Experian and Call Credit to garner a detailed understanding of the benefits data mining can bring to the table. We manage data to doormat marketing campaigns which are shaped by the data mining process, making them targeted and personalised – both key ingredients for success when it comes to printed marketing ROI.

More in this category: Getting Personal »
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