The Leeds Business Power Breakfast is a series showcasing faculty research and industry expertise for real-world application
Scalable Target Marketing with Big Data
Tuesday, December 7th, 2021 8:00 - 9:30 a.m. MST via Zoom
Modern marketing often requires that firms tailor their strategies to the characteristics of specific customers to sell their products and services. Examples include decisions on which online advertisement to show, what price to charge, or which promotion to offer. However, current statistical methods are not designed to scale to the size of modern data sets. I present a new algorithm to close that gap. The method takes advantage of supercomputer. The key takeaway is that firms can now provide a win-win for their target customers. Customers win by having fewer annoying messages they need to process from firms, and the messages they do receive are spot-on in terms of meeting their needs. Firms win by increasing the efficiency of their marketing efforts at a reduced cost, earning larger returns on their smaller marketing budgets. I demonstrate the method for a charitable organization that wants to more efficiently target potential donors. Using the new algorithm, I predict an increase of $1.6 million to $4.2 million in incremental revenue per campaign, more than the amount of revenue using a traditional statistical approach.
Assistant Professor of Marketing
Past presenters and presentations topics include:
- Tony Tong, How do platform companies orchestrate a digital ecosystem?
- Sabrina Volpone, What Does Diversity Mean to You?
- Tony Cookson, Social Media, Echo Chambers and Investing
- Clare Wang, Earnings Season and Election Day.
- David Eargle, Information Security Management in 60 minutes: How to increase your security posture
- Peter McGraw, Shtick to Business: What the Masters of Comedy Can Teach You About Taking Chances, Standing Out, and Building A Serious Career
- Liu Liu, Visual Listening In: Extracting Brand Image Portrayed on Social Media
- Roberto Caccia, Risk Management Before, During and After the Financial Crisis
- Donald Lichtenstein, Navigating by the Stars: Investigating the Actual and Perceived Validity of Online User Ratings
- Melissa Schilling, Quirky: The remarkable story of the traits, foibles, and genius of breakthrough innovators who changed the world
- Sarah Zechman, Executive Overconfidence and the Slippery Slope to Financial Misreporting
- Thomas Thibodeau, Interest Rates and Investment: Evidence from Commercial Real Estate
- Gregg Macaluso, Where is the Supply Chain? Supply Chain design for the web-enabled consumer of this era
- David Hekman, How can we get the full benefits of workplace diversity and avoid its costs?
- Mark Meaney, Business Education in a VUCA World
- Alan Jagolinzer, Perspectives on IFRS Convergence and Evidence from Research in Asset Fair Value Estimates Reporting
- Meg Campbell, What Makes Things Cool?
- Ray Johnson, A Crowdfunding Primer
- Stefanie Johnson, Hooked on a Feeling? Understanding the Role of Emotions at Work
- Laura Kornish, The Importance of the Raw Idea in Innovation: Testing the Sow's Ear Hypothesis
- Manuel Laguna, Global Initiatives
- Donnie Lichtenstein, Price, Brand Name or Online Ratings? The True Indicator of High-Quality Products
- John Lynch, Consumer Financial Decision Making
- Sharon Matusik, Internationalization of US Venture Capital Firm
- Pete McGraw, Cracking the Humor Code
- Page Moreau, Fostering Creativity
- Richard L. Wobbekind, Colorado's Economy & Energy Economics
- Jeffrey York, The Emergence of Wind Energy
We are always looking for hosts to sponsor a Leeds Business Power Breakfast at a unique location in the Denver area. Please contact LeedsAlumni@colorado.edu if you have a space you'd like to share with other Leeds Buffs.