Teradata and client company Overstock.com have been named winners of the National Center for Database Marketing Database Excellence Gold Award for Technology Applications and the Platinum Award for overall excellence. The awards honor organizations that have demonstrated ingenuity and creativity in leveraging their marketing databases, and are presented each year by the Direct Marketing Association and DIRECT Magazine.
Teradata collaborated with Overstock.com in a major initiative to re-architect its business platform and marketing programs. The online retailer implemented a data warehouse-driven customer relationship management (CRM) program in 60 days. During this time, the retailer dramatically extended its direct marketing capabilities and, within a year, achieved complete payback on their multimillion dollar IT investment - quicker than initially projected.
Marketers at Overstock.com can now easily monitor and measure email campaigns to ensure they are in line with projections and objectives. Their Teradata CRM tools provide immediate feedback on the effectiveness of every marketing campaign with metrics that track marketing ROI. Users can alter a campaign "on the fly" if they are not seeing the projected response rate for a particular campaign.
Overstock.com said it contacts over 300 segments each week with personalization, whereas before implementing the data warehouse and CRM tools, they could only mail to fewer than 20 segments and had no personalization.
