4A's Webinar: Bringing Science to the Art of Marketing

Bringing Science to the Art of Marketing

Analytics and Metrics:
Bringing Science to the Art of
Marketing
#4AsWebinars

Laura Patterson
President & Author
laurap@visionedgemarketing.com
Twitter:@LauraVEM
Facebook:
https://www.facebook.com/VEMarketing

#4Aswebinar

Welcome and Today’s Focus

“Need the math
behind the
creativity,”
John Seifert, ChairmanCEO
of Ogilvy & Mather North
America

Improve Your Probability for Success ™ | www.visionedgemarketing.com | ©19992013 VisionEdge Marketing. All rights reserved. Not for reproduction or redistribution without written permission.

www.visionedgemarketing.com

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The Burning Question

A Lot of Ground to Cover






Marketing’s Metrics and Analytics
Conundrum
The Agency as Hero
 Taking on the Data Challenge
Actionable Analytics
 Balancing Data with Insights
 The Data Hierarchy
 Models Every Marketers and
Agency Must Master
Four Keys to Success
 Clarifying the Business
Outcomes
 Measuring the Right Things
 The Creative Brief
 Performance Reporting

Improve Your Probability for Success ™ | www.visionedgemarketing.com | ©19992013 VisionEdge Marketing. VEM Proprietary. Not for reproduction or redistribution without written permission.


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If you or your clients
had to prove how
marketing programs
impact
 share price,
 revenue,
 market share,
 customer value

could you do it?


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The A’s have a game plan for
performance management…

The Quest

“Measurement and
analysis help marketers
become smarter…they
are the foundation from
which investment potential
is established, understood,
optimized and realized.”
Rebecca Lieb & Jeremiah Owang, Altimeter



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1.
2.
3.

Determine marketing’s true
impact
Transform marketing into an
investment instead of a cost
Arm ourselves with the tools
and associated language
necessary to demonstrate we
are generating sustainable,
measurable value


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Why Companies Invest in Marketing
 Develop and execute a
strategy to create
preference and
consideration that enables
the organization to


Acquire more of
something



Acquire it faster



Acquire it cheaper

They Understand 5 Keys to Performance Management

“ Today’s marketing ….requires
better
data…analytics…forecasting…mode
ling, higher levels of
accountability…performance
dashboards…a wider embrace of
marketing
automation...processes…”
CMO Council, Driving Performance, 2012

1.
2.
3.
4.

Data
Analytics
Metrics
Performance
Targets
5. Reporting

 Need to demonstrate we are
“getting the job done”
 Otherwise, might as well just
put more feet on the street


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Data is the Starting Point

Does Data Matter?

 Customer Data
 Market Data
 Business Data

 “Firms that
emphasize
decisionmaking
based on data
and analytics
perform 56%
better than firms
that rely on
intuition and
experience.”




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Economic Intelligence Unit, 2012


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Select Data That Matters:
Top 6 Most Important Data Sets

 To get the
most out
data "you
need to
know what
you want to
know.“


Bernard Marr,
Advanced
Performance Institute

Look for Patterns

1. Business Activity
Data (mostly structured)
2. Social
Media/Comments/Revie
ws (mostly unstructured)
3. Transactional data
4. Website data
5. Telecom/Call Center
data
6. Images/Graphics



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 Data that doesn't
help you see isn't
useful.
 58% of respondents
agree that moving
from data to insight is
a major challenge
 5th annual Digital IQ Survey,
Pricewaterhouse Coopers (PwC)


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Analytics: Key for Seeing the Patterns
 The term analytics as
early as the late
1500s or early1600s
 Applying logical
analysis to discover
and communicate
meaningful patterns in
data.

How to Turn Your Data into Insights

 Today when applied
to marketing
 The practice of
measuring, managing
and analyzing
market, customer,
and marketing
performance data to
maximize marketing
effectiveness.














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Synthesize: The starting point for seeing the
patterns
Hone in on the right Patterns
 Not all patterns are germane.
 Review and discuss each pattern
and its potential implications.
 Explore why each pattern is important and
what it means.
In one simple statement, articulate the insight
that emerged
 Post the insights
Incubate the insights.
 Give yourself and your team at least a day
away from the "board."
Do the insights resonate?
 Decide if the insights resonate and are
compelling enough to make or affect key
decisions.
Decide on the ACTIONs to be taken.


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Model Muscle – Master These

Analytics Enable Marketing







 Segmentation
Models
 Persona
Development
 Buying Process
Models
 Touch point
Allocation
 Pricing Models
 Opportunity
Scoring Models

Identify customer experience
problems and opportunities
Create and innovate,
redesign and reengineer
processes and systems to
improve marketing, customer
experience, product
development
Evaluate strategic and
tactical options that will
deliver the desired results.
Develop models to anticipate
market and customer
behavior



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 Campaign Lift
 Attribution/Mix Models
 Predisposition to
Purchase Models
 Likelihood to
Defect/Customer Risk
Models
 Portfolio
Management Models


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Adopt a metrics framework and create a catalog

Selecting the Right Metrics

My friend Joe
My friend Joe runs 5X/week
runs
5X/week



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Before Execution: Engage in a Powerful Conversation with Your
Stakeholders to Learn and Understand

Gain Clarity Around Data & Metrics: Engage in a Powerful
Conversation with Your Stakeholders

1. What specific, measurable business
outcome will this program impact?
2. How do you expect this
program/activity to contribute (what
needle needs to move and how far)?
3. How will we know and measure that
this program achieved the
objective(s)?



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1. What metrics would you expect to see?
2. What data will best help you understand our
current state?
3. What data and measures will communicate the
campaign’s/program’s effectiveness and value?


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Captured on Creative Brief

Program Development Checklist










Did you choose an outcome that can be
measured?
Did you review what information is
available & glean any learnings from
available information?
Did you obtain initial benchmarks?
If the desired data is not available did
you determine how, when, and often it
should be collected?
Did you select key metrics and frequency
of monitoring/reporting?
Can you tie the metrics to the outcome?
Are you using the information to
communicate results/impact/business
contribution to business leaders?



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Test
&
trial
it!


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Have We Answered Your “So What?”

To Prove Marketing’s Value

Why this is important?

Everything needs to be
measurable:




 Connects the dots –
demonstrates Marketing’s
(client and agency)
contribution, value and
impact in measurable
business terms
 Helps us know whether we
are moving the needle on
our Marketing strategy and
priorities
 Provides the foundation for
continued improvement in
effectiveness

The outcome
The objective
The program

Why?




Stake in the ground
Know what is and
isn’t working
Know when to
declare success



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Why this matters to you?








It is the access to mastery
You will see opportunities that
you did not see before
You will have greater
confidence in your plans and
programs
You will expand your
understanding of the drivers
of behavior and how they
can be manipulated
You will be hungry to answer
new questions that further
your wisdom and
effectiveness


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What You Can Achieve

Take Action! Thank You, Q&A, Resources





 Shift focus in the way
you plan, evaluate,
and communicate
results
 Set performance
targets in everything
we do – dataand
factbased
 Better articulate the
value generated to
business

Review your “Learnings”
Identify 1 takeaway
Identify1 thing you will do differently
Request a copy of this presentation
email
lizzy@visionedgemarketing.com

Affordable workbooks and books at


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Stay
@
in
Touch

#4Aswebinar

www.visionedgemarketingcom

@lauravem
http://visionedgemarketing.wordpress.com/

http://www.linkedin.com/company/visionedgemarketing

https://www.facebook.com/VEMarketing
laurap@visionedgemarketing.com

http://www.slideshare.net/visionedgemarketing

http://www.youtube.com/user/VisionEdgeMarketing



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