The current state of text mining/analytics marketing?
One thing that didn’t go so well at the Text Analytics Summit was the marketing panel. Indeed, when we wracked our brains afterward, Mary Crissey (who was on the panel) and I could only think of a single observation that was actually made about marketing. Namely, she referred to a core truth of marketing: Just selling features doesn’t work (nobody cares). Just selling benefits doesn’t work (you’re not differentiated). What you have to do is sell the connection between your features and desirable benefits.
So I’m going to try to gather some useful observations on marketing here, filling the gap that the panel left. Key questions I’d love input on include:
1. Which feature-benefit connections do you see customers easily accepting?
2. Which feature-benefit connections is it harder to get them to believe?
3. How are customers defining text analytics market segments?
4. What do they see as the key issues in each segement?
5. Which application areas are showing growth even beyond that of the market overall?
I’m particularly interested in comments from the larger vendors that are selling into multiple parts of the text mining and text analytics market. But everybody else’s input would be warmly appreciated too.
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| Categories: About this blog, SAS, SPSS, Text Analytics Summit, Text mining | 6 Comments |
Data capture for the sake of text mining
One of the major factors driving successful use of advanced analytic tools is direct initiatives to procure more data. The single best example I can think of is the gaming industry’s use of otherwise-contrived loyalty cards; improved marketing based on that data at chains like Harrah’s seems to produce upwards of 100% of total profits.
So can we apply the same approach to text mining? One place would be surveys. Rather than those annoying, contrived forms demanding we fill in a lot of choices as if we were taking the SATs all over again, maybe users would be more revealing if they could just write whatever they wanted? The obvious firm to ask is SPSS, which is big both in surveys and text mining, not to mention the intersection of the two markets. So I emailed Olivier Jouve, and he shot back an answer from an airport. Read more
| Categories: About this blog, SPSS, Text mining | 3 Comments |