What Is MineThatData?

MineThatData is a consultancy founded by Kevin Hillstrom, a Database Marketing veteran with nearly two decades of Multichannel Retailing experience at Nordstrom, Eddie Bauer and Lands' End.

Kevin helps Multichannel CEOs understand the complex relationship between Customers, Advertising, Products, Brands and Channels.  Multichannel marketing has never been more complicated than it is in 2007.  Catalogs, E-Mail Marketing, Search, Affiliates, Banners, Portals and Organic Website traffic all interact with the Online, Retail and Telephone Purchase Channels.

Multichannel Forensics is emerging as the primary way for Multichannel Retailers to understand growth opportunities.  By exploring how customers migrate across product lines, our brands, our channels, and our advertising strategies, Multichannel CEOs can finally determine the best ways to profitably grow sales across all channels.

 

Tell Me About Multichannel Forensics!

In order to understand how customers interact with advertising, products, brands and channels, we need to have a framework for measuring this level of interaction.

Multichannel Forensics is the framework I use to measure customer interaction.  By classifying customer behavior into three repurchase modes (retention, hybrid and acquisition), we learn whether a retention or acquisition strategy is needed.  By classifying customer behavior into four migration modes (isolation, equilibrium, transfer and oscillation), we learn whether a product, brand or channel can grow independent of others, whether it fuels the growth of other products, brands or channels, or whether it is the beneficiary of other products, brands or channels.

This level of understanding is absolutely critical, if a Multichannel Retailer is to survive and thrive in the online era.

Here is a sampling of the questions one might be able to answer after reviewing a Multichannel Forensics analysis:

·         What happens if I decide to shut down my catalog division, and focus only on online initiatives?

·         Which advertising tactics drive the most sales to my online and retail channels?

·         Given our current practices, what do my catalog and online sales project to be over the next ten years?

·         What is the optimal level of offline and online marketing spend for my business?

·         What happens if I increase or reduce the merchandise assortment in my online channel?

·         Do my e-mail, catalog and online marketing programs interact to cause customers to spend more?

·         Do customers cross-shop various merchandise divisions online, and if so, which ones?

·         What are the dynamics that cause my business to be successful?  Is my business successful because of my acquisition or retention strategy?  Is my business successful because I cultivate my own customers, or because other business units send customers to my division?

Want to learn more?  Download this white paper on Multichannel Forensics.  Want to understand how customers interact with advertising, products, brands and channels?  Simply send Kevin an E-Mail, and we'll discuss the scope of a Multichannel Forensics project.

 

What Is The MineThatData Blog?

My blog is my way of communicating everyday issues in Multichannel Retailing, Database Marketing, Social Media and Multichannel Forensics.  About five times a week, I write various articles, and encourage readers to participate in the discussion.

With an annualized audience of 115,000 visits and 190,000 page views, The MineThatData Blog is the most widely read multichannel retailing and database marketing blog on the internet.  Subscribe via RSS Feed, or simply visit the website at your convenience.

 

Interested In Working Together On A Project?

If the concept of Multichannel Forensics is of interest to you, please send me an e-mail.  I will be happy to talk with you about your needs.