Response Marketing Group, Richmond, Virginia, is celebrating their 30-year anniversary as an industry leader in data-driven marketing and advertising. Both original Founder and agency Principal Stuart Holt and principal, President and CEO, Jim Harenchar believe that some of the basic elements of success in marketing have not changed. “Since our inception in 1986, knowledge has always been critical and those companies that embrace and deploy data insights are consistently winners.” According to a recent Gartner survey, interest in big data technologies and services is at a record high, with 73% of the organizations surveyed investing or planning to invest in them. But most organizations are still in the very early stages of adoption while only 13% of those they surveyed had actually deployed these solutions. Holt believes that with the proliferation of traditional and digital data, many agencies have no idea how to make this overwhelming information actionable and campaigns measureable. It is a big part of why Response Marketing Group has continued to find such great success for their clients over thirty years.
The agency continues to focus on core sectors that have been their historical strengths: Financial Services, Hospitality and Non Profit, serving clients such as Wells Fargo, Bank of America, Marriott, The Ritz Carlton, Disney and American Humane. Recently they have also added two new sectors they see as evolving to embrace the reality of data-driven marketing – Hospital Systems and Travel/Tourism. RMG President and CEO Jim Harenchar spent 2 years working closely with Bon Secours Health System and came away with several keen observations. “Health Systems are finally starting to recognize and embrace the fact they maintain significant data assets that can be monetized to drive service line volumes, better focus marketing messaging and engage their target audiences with relevant communication.” With industry consultants predicting continued consolidation and nearly one-third of hospitals acquired or out of business by 2020, Harenchar believes Health Systems are waking up to the reality of leveraging data as a revenue driver. According to a study conducted by CDW Healthcare with O’Keefe & Company, the top motivational factors driving analytics are: the rising cost of healthcare (59%), Medicare/Medicaid EHR incentive programs (44%) and accountable care (41%). Systems like Cleveland Clinic and Mayo Clinic are heavily investing in data technology and applications to respond to the evolving marketplace.
According to Forrester Research’s recent State Of Customer Analytics 2016 report, companies are investing in more data sources that provide deeper insights. In 2014, the average company used only four data sources for analysis and measurement. Today, companies are using six data sources on average, an increase of 50%. In addition to traditional sources, such as demographic, transactional, and behavioral data, which are some of the top data sources in use, many companies are leveraging digital data from their owned web and mobile properties, unstructured data from social media (35%) and internal feedback channels (27%).
RMG has remained consistent in their belief in using data as critical influencer and predictor of customer behavior. It is integrated in to the marketing mix to better inform creative, messaging and channel preference in delivering multichannel campaigns for their clients. Katie Both, Director of Development for Special Olympics, Virginia said “We’ve transformed the way we look at data. We’ve been told by our Global Headquarters that we’re ‘ahead of the curve’ compared to other state programs. This translates to increased revenue through steady donor acquisition and retention”.
Response Marketing Group, headquartered in Richmond, VA is a privately-held marketing agency providing data-driven advertising solutions to select industries. Services include design, development, analytics, measurement and management of multichannel marketing campaigns. The firm can be reached at www.rmg-usa.com. Contact Jim Harenchar, President & CEO at 804-370-1439 or firstname.lastname@example.org.