what's next: the value of data
TRANSCRIPT
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The value of data
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Hello!
Rob Blackie Consultant OgilvyRED
Leila Seith Hassan Head of Analytics
OgilvyOne
Frank Duck Data Strategy Director
Ogilvy
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What’s the weather like in your city?
Tell us where you’re dialling in from!
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Want this deck?
It will be available for download shortly after the webinar on: slideshare.net/socialogilvy
Ogilvy staff: It’s also on The Market! themarket.ogilvy.com
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Housekeeping news!
More people are joining our webinars than ever before! So from next week, we will be using zoom.us instead of GoToWebinar to give you a better overall experience.
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We look forward to seeing you next week!
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One
The value of data
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“The world’s most valuable resource is no longer oil, but data”
The Economist, 2017
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NUMBER OF INTERACTIONS, PER PERSON, PER DAY
Big Data
“AI”
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“80% of data is “dark and untouched” SAS, 2017
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But when it comes to data, don’t just do it. Do it with purpose
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Insight Journeys Experiences Performance
What’s its purpose
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Fluid Trustworthy Safe Welcoming Adaptable Humanised Legal
But also needs to be…
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Information is not Insight
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“Data doesn’t create meaning,
we do” Susan Etlinger
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Insight is not Data
in isolation
An Observation - This is merely a
Fact
A Consumer Need State
Uncover the overt OUTCOME or
required ACTION
Ask the WHY look for the MOTIVATION WHAT is the Driver?
An Insight is not:
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A previously unknown human truth
A new view of the world, breaking existing conventions and challenging the status quo
An observation of a consumer behaviour that jolts us to see them from a new perspective
Uncovering the underlying motivations that drive a given consumer behaviour
At Ogilvy we define an Insight as…
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It elicits an emotional connection with your consumers
A new view of the world, breaking existing conventions and challenging the status quo
Unlocks a new audience to drive customer acquisition and sales growth
It uncovers the underlying motivations that drive a given consumer behaviour
Provides a clear statement of what to do next for your customers
A powerful platform for creative ideation
You have uncovered a valuable insight if…
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One
Data driven insight in practise: 3 Guiding Principles
1. 2. 3.Define a business
objective OR a Hypothesis
Data Source Assessment: Availability,
Relevancy, Depth
Define the Data Output
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Who are my most valuable
customers?
How can I re-engage a dormant segment
of my database?
What are the emerging cultural trends influencing
consumer behaviour in my category?
What is the optimum contact strategy for driving incremental
revenue from existing customers?
How do we drive customer
acquisition, is there untapped audience
segment?
1. A clear set of objectives or hypotheses
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Ow
ned
Com
mis
sion
ed
Rese
arch
Public D
ata
Partners/Market/
Sales Data
Customer Database
Customer Transactions
Marketing Engagement
Business Data
www
Social Conversations
News
Qualitative Focus
Ethnographic
Consultancy
Social Listenig
Behaviours
2. Hunt and mine the most relevant data source(s)
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Customer Personas Customer & Market Segmentation
The CFM profiler !The CFM profiler !
Customer Database Audit: Understand
your customers
Measurement Framework!
Measurement & Evaluation Dashboards
Data Modelling: RFM, Propensity,
Churn, Acquisition
360 Experience Mapping
Strategy development: Contact, Media,
Datacapture, Experience
Human insights to feed Creative
Ideation
3. Data outputs
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applymagicsauce.
Insights can change the world
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Word of caution
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Using data to drive experiences, personalisation and, relationships
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An old saying
““
It’s more important to reach the people that count than to count
the people you reach
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Today this might translate to…
Relevant communications deliver enhances personal customer experiences
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Yet still too many companies have a default
Delivering mass market communications across channels with
little thought of how the target audience respond, feel or experience
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( )RELEVANCE +TIMELINESS+LOCATION VALUE = TRUST
LOSS OF PRIVACY
We need to be personal
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• ROI • KPI • Insight
Prioritise Personalise Precision
• Potential Value • ROI • Risk • Segment
• Interest • Location • Attitudes
• Optimise Channel • Channel Preference • Optimise Journey • Timing
Performance
The 3 Ps
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Define Ambition
Identify & Understand Audiences
DevelopStrategy
GenerateIdeas
Prototype& Iterate
DesignExperience
ProduceAssets
DistributeContent
OptimizePerformance
DATA I N S I G H T S & DATA F U E L T E C H N O LO GY, P L AT F O R M S & PA R T N E R S
Create RealiseThink
Which fuels the
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INSERT THE BATTERSEA DOGS HOME
DIFFERENT USE OF DATA
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Measurement and Optimisation
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• Start small, think big and, evolve • Define your objectives • KPIs, diagnostics and apples • Insights vs. Observations • Tagging 101
Where do you start?
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▪ KPI and diagnostic metrics aligned to marketing objectives
▪ Benchmarks ▪ Qualitative explanations of x on y ▪ Bespoke metrics aligned to strategy ▪ Basic A/Bn testing ▪ Apple-to-apples comparisons across
agencies / platforms
▪ Metrics by platform silo ▪ Standardised metrics in platforms
• Explicitly tie back to business goals ▪ Scenario analysis; if x is switched off,
what is the impact to the eco-system y? ▪ Test segments, test scenarios and test
targeting
L E V E L 1
L E V E L 2
L E V E L 3
“Measure something”
“Strategic Measurement”
“Advanced analytics: beyond measurement”
Build over time
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Business: What does the business need to achieve?
- Long term, complex measurement, longitudinal analysis
- Larger goals, simplified statements
Marketing: What does the marketing / communications activity need to achieve?
- Audience and segment specific
- Tactical in nature
- What can we impact as part of the business goal
Data and Measurement: What are you using data and analytics for?
- What should the analyst being giving to the marketers to meet 1 and 2 above
- What do I need to optimise my activity
- What should I test
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Define objectives1
2
3
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KPI Diagnostic• Explicitly tied to objectives • Explicitly tied to the KPI
• Demonstrates aggregate success / failure• Tells you why a KPI performed /
underperformed
• Set targets • No targets
• Benchmark against historical & industry • No benchmarks
KPI = FINITE, ONLY A FEW VS. DIAGNOSTICS = INFINITE AND MANY
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Tie objectives to KPI & Diagnostics
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URLS ARE TAGGED SO WE CAN TRACE ACTIVITY BACK TO EVERY PARAMETER OF THE CAMPAIGN.
THE BETTER WE TAG OUR URLS, THE MORE INFORMATION WE HAVE TO PROVE WHAT WORKED (AND DIDN’T)
What do you need to know:
1. What source did our visit/event come from? (social / .com / media / PR)
2. Was this Paid, Owned or Earned?
3. What creative (content) was used?
4. What campaign was this visit/event associated with?
5. How many leads did this campaign generate?
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ogilvylondon.co.uk?utm_source=data&utm_medium=webinar&utm_campaign=whats_next&utm_term=taggins&utm_content=google_url_tag
ogilvylondon.co.uk?data_webinar_whats_next_taggins_google_url_tag
ogilvylondon.co.uk?123_ABC
Adobe Analytics
Tag your KPI and Campaigns
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OBSERVATION
Fact(s) demonstrated through data points. Often used in multiples.
INSIGHT (JUST AS IMPORTANT HERE)
A mental judgment based on observations, they cannot be
observed, they must be inferred
ACTION
The (strategic, creative, media, audience) change you need to make to improve your business
“Mums stay on the site < 1minute but category average is 3.42minutes”
“Only 0.25% of mums use on site search”
“Online purchase volumes is 29% lower
than goal”
“Mums can’t find what they’re looking for so they leave”
Search button
“Move search to top of page, allowing mums to navigate to what they’re
looking for”
Require insights, not just observations and do something with them.
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Just having data isn’t valuable… You need to be able to get meaning, by creating insights, for it to become valuable
Have a purpose, using data for the sake of using data can get creepy
Data doesn’t need to be hard, complex or complicated
Knowing the impact of your work is good, improving what you do because of what you know is better
Remember ….
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Questions?
Rob Blackie Consultant OgilvyRED
Leila Seith Hassan Head of Analytics
OgilvyOne
Frank Duck Data Strategy Director
Ogilvy