{"id":98901,"date":"2025-02-20T06:42:18","date_gmt":"2025-02-20T06:42:18","guid":{"rendered":"https:\/\/peraltafinancing.com\/analytics\/kevin-hillstrom-minethatdata-the-case\/"},"modified":"2025-02-20T06:42:18","modified_gmt":"2025-02-20T06:42:18","slug":"kevin-hillstrom-minethatdata-the-case","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=98901","title":{"rendered":"Kevin Hillstrom: MineThatData: The Case"},"content":{"rendered":"


\n<\/p>\n

\n

Here’s the case for both Customer Acquisition and Action Streams.<\/span><\/p>\n

Prices<\/b><\/span><\/p>\n

Prices are likely to increase in the next year, due to cost of goods increases and\/or tariffs. If your prices increase 20%, you’ll likely see a corresponding decrease in units … could be 3%, could be 20%. Higher prices mean lower rebuy rates, lower reactivation rates, and fewer new customers. Hint – in 2025 and beyond, you’ll need customers. Prices will conspire against your efforts to increase customers. Action Streams are a way to address customers who show interest in your brand.<\/span><\/p>\n

Paid Search, Paid Social<\/b><\/span><\/p>\n

In project after project, these customers have lower long-term value. Not bad long-term value, but lower. When customers have lower long-term value, you need more of ’em to protect your future. As you need more customers, others figure out they need more customers. This drives up the cost of advertising, potentially driving down response. Action Streams will be a tool used to close the deal on infrequent buyers who re-engage with your brand via Paid Search and Paid Social.<\/span><\/p>\n

Old-School Catalog<\/b><\/span><\/p>\n

Will be a piece of the marketing puzzle among 60-84 year old customers who are Elite or Loyal. Customer Acquisition or Reactivation via print? Over. Done. Too expensive. Customers 18-59 could care less. Believe it or not, there are catalog Action Streams that can work with 60-84 year old customers. Your old hotline program falls into this category.<\/span><\/p>\n

The Customer\/Prospect Ecosystem<\/b><\/span><\/p>\n

Paid Search represents a micro-interaction … the customer wants a GREEN WIDGET, a highly specific micro-request. We’ve spent 25 years figuring out how to capitalize on a specific micro-request. We’ll spend more time in the next 25 years understanding how the customer interacts with our brand and our competitors in the Customer\/Prospect Ecosystem. Data from customer interactions in this ecosystem become highly important … for instance, the 18 month buyer who suddenly visits your website … that customer is responsive for a short period of time and requires an Action Stream to convert.<\/span><\/p>\n

Events<\/b><\/span><\/p>\n

Events “seed” the customer\/prospect ecosystem. Since Nordstrom has few sales events, their Anniversary Sale in July\/August means something. It’s an event! In my world of Headphones, the CanJam events mean something. They become part of the marketing calendar. They generate interest and interactions within your customer\/prospect ecosystem. Attention shifts to you. Attention shifts away from your competition. In the next five years, you will see a shift from “campaigns” to “events”, with Action Streams replacing campaigns.<\/span><\/p>\n

Sports<\/b><\/span><\/p>\n

Sports represent the future of e-commerce events. Anything “in person” has to be pretty special in order to cause a customer to pay money for an experience. Modern retail is “not special” … it’s like the old County Stadium in Milwaukee. We’ll invest in “real life” activities that build toward something (like Spring Training to the Regular Season to the Playoffs to the World Series in Baseball). As we build toward something, we’ll use Action Streams to promote events in real life.<\/span><\/p>\n

AI<\/b><\/span><\/p>\n

As we shift from campaigns to events, Action Streams replace campaigns. Today your Action Streams are likely driven by humans. In the future a fusion of AI and your smarts will result in smarter Action Streams. Times are changing, we’ll change with ’em.<\/span><\/p>\n

The Easiest Starting Point?<\/b><\/span><\/p>\n

Take all customers who have not purchased in six or more months, and segment them by whether the customer visited your website in the past month or not.<\/span><\/p>\n

The Case<\/b><\/span><\/p>\n

The end of old-school customer acquisition paired with rising prices and excessive digital marketing competition results in you, the reader, making the case for using Action Streams and Events to better relate to your customer\/prospect ecosystem.<\/span><\/p>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"

Here’s the case for both Customer Acquisition and Action Streams. Prices Prices are likely to increase in the next year, due to cost of goods increases and\/or tariffs. If your prices increase 20%, you’ll likely see a corresponding decrease in units … could be 3%, could be 20%. Higher prices mean lower rebuy rates, lower […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12033],"tags":[415,13773,13772,13774],"dealstore":[],"offerexpiration":[],"class_list":["post-98901","post","type-post","status-publish","format-standard","hentry","category-analytics","tag-case","tag-hillstrom","tag-kevin","tag-minethatdata"],"yoast_head":"\nKevin Hillstrom: MineThatData: The Case - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=98901\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kevin Hillstrom: MineThatData: The Case - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Here’s the case for both Customer Acquisition and Action Streams. Prices Prices are likely to increase in the next year, due to cost of goods increases and\/or tariffs. If your prices increase 20%, you’ll likely see a corresponding decrease in units … could be 3%, could be 20%. 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