4a's webinar: bringing science to the art of marketing

Bringing Science to the Art of Marketing #4Aswebinar

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Analytics and Metrics: Bringing Science to the Art of

Marketing #4AsWebinars

Laura Patterson President & Author [email protected] Twitter:@LauraVEM Facebook:

https://www.facebook.com/VEMarketing

Improve Your Probability for Success ™ | www.visionedgemarketing.com | ©19992013 VisionEdge Marketing. All rights reserved. Not for reproduction or redistribution without written permission. 2

Welcome and Today’s Focus

“Need the math behind the creativity,” John Seifert, ChairmanCEO

of Ogilvy & Mather North America


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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


The Burning Question

If you or your clients had to prove how marketing programs impact

share price, revenue, market share, customer value

could you do it?




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


The Quest

1. Determine marketing’s true impact

2. Transform marketing into an investment instead of a cost

3. Arm ourselves with the tools and associated language necessary to demonstrate we are generating sustainable, measurable value

“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




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

Need to demonstrate we are “getting the job done”

Otherwise, might as well just put more feet on the street

“ Today’s marketing ….requires better data…analytics…forecasting…modeling, higher levels of accountability…performance dashboards…a wider embrace of marketing automation...processes…”

CMO Council, Driving Performance, 2012


They Understand 5 Keys to Performance Management

1. Data 2. Analytics 3. Metrics 4. Performance

Targets 5. Reporting




Data is the Starting Point

Customer Data Market Data Business Data


Does Data Matter?

“Firms that emphasize decisionmaking based on data and analytics perform 56% better than firms that rely on intuition and experience.” Economic Intelligence Unit, 2012




Select Data That Matters: Top 6 Most Important Data Sets

1. Business Activity Data (mostly structured)

2. Social Media/Comments/Reviews (mostly unstructured)

3. Transactional data 4. Website data 5. Telecom/Call Center

data 6. Images/Graphics

To get the most out data "you need to know what you want to know.“ Bernard Marr,

Advanced Performance Institute


Look for Patterns

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)




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.

Today when applied to marketing

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


How to Turn Your Data into Insights

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.




Analytics Enable Marketing 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


Model Muscle – Master These Segmentation

Models Persona

Development Buying Process

Models Touch point

Allocation Pricing Models Opportunity

Scoring Models

Campaign Lift Attribution/Mix Models Predisposition to

Purchase Models Likelihood to

Defect/Customer Risk Models

Portfolio Management Models




Adopt a metrics framework and create a catalog


Selecting the Right Metrics

My friend Joe runs 5X/week

My friend Joe runs

5X/week




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

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)?


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

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?




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?


Captured on Creative Brief



Improve Your Probability for Success ™ | www.visionedgemarketing.com | ©19992013 VisionEdge Marketing. VEM Proprietary. Not for reproduction or redistribution without written permission. 23 Improve Your Probability for Success ™ | www.visionedgemarketing.com | ©19992012 VisionEdge Marketing. VEM Proprietary. Not for reproduction or redistribution without written permission. 24

Test &

trial it!




To Prove Marketing’s Value Everything needs to be measurable:

The outcome The objective The program

Why?

Stake in the ground Know what is and

isn’t working Know when to

declare success


Have We Answered Your “So What?” Why this is important? 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

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




What You Can Achieve 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


Take Action! Thank You, Q&A, Resources Review your “Learnings” Identify 1 takeaway Identify1 thing you will do differently Request a copy of this presentation

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