Daring Data Innovators: Steve Had, IHS Automotive
Every Friday, Oracle Data Cloud (ODC) spotlights data innovators in marketing, advertising and tech through a series, "Daring Data Innovators." This series aims to discover the thoughts behind some of the leading data-driven individuals and companies, as well as how data integrates into their business worldview.
Recently, ODC spoke with Steve Had, Vice President of Sales and Marketing Solutions for IHS Automotive. In this role, Had leads the team responsible for developing and delivering sales analysis, marketing and network management tools and services for IHS Automotive. Check out the interview below, from our very own "Daring Data Innovator."
Oracle:How has the use of data in marketing affected audience planning for automotive campaigns? Do any use cases come to mind?
Had: The use of data in our marketing solutions is affected by source of sales; the analytics to understand from which customers and brands a given vehicle will draw its sales. The overwhelming majority of new vehicle buyers already own a vehicle, and as these people come in to trade or buy a new vehicle, we can create an actionable audience, sized to meet your sales objectives, and remain loyal to your brand. In fact, we saw a huge increase in actionable audience requests in November of 2015 for the year-end close out. One brand we worked with asked for several different segment models to begin to bring competitor brands into their showroom, and we were able to do this with tremendous scale and significantly higher conversion.
Oracle: How does using audience segmentation help auto companies become more efficient marketers?
Had: Audience segmentation is incredibly valuable to marketers. By providing the right segmentation, you know where your dollars are working the best, eliminating the need to spend money where it has no impact. You can recognize more opportunities where there's a high likelihood of success, because we can apply probabilities to an audience to predict success.
Oracle: What's the most surprising thing that IHS data has revealed in marketing campaigns, and how did those insights influence strategy?
Had: Clients are now embracing data at a higher rate than we've ever seen before, and it's so interesting to be able to understand who is actually purchasing. Automotive is focused on outcomes - for example, you sell a certain number of vehicles and you get a great result, so everyone is happy. But when we can use data to compare client results to competitors, it's enlightening to see that a "great" result can sometimes turn out to be a "good" result. This spurs innovation from the standpoint of the client, because we can provide better audiences that move the needle.
Oracle: What are some of the best practices you'd recommend for marketers utilizing data for planning and segmentation?
Had: From an auto perspective, we believe strongly that the vehicle you last purchased will have high impact on what you will purchase in the future. We look at ownership patterns, at demographics and other third-party data that combine to give us a rich and detailed look at the customer. We're looking closely at the difference between "serial loyalists" who buy the same brands over and over again and "nomadics" who tend to switch brands with each new purchase. By pulling apart the total number of segments available, we create a much better opportunity to hone the right message for the audiences that clients want. If someone is not brand loyal, we can find out aspects that will help them switch using our data.
Stay up to date with all the latest in data driven, automotive industry news by following @IHS4Automotive and @OracleDataCloud on Twitter.
Steve Hadis Vice President of Sales and Marketing Solutions for IHS Automotive
For more information about IHS Automotive Sales & Marketing Solutions, please click here.
Posted March 22, 2016