tag:www.econsultancy.com,2008:/topics/data-analytics Latest Data & Analytics content from Econsultancy 2016-05-23T15:09:42+01:00 tag:www.econsultancy.com,2008:BlogPost/67863 2016-05-23T15:09:42+01:00 2016-05-23T15:09:42+01:00 Healthcare marketers making progress on measurement & metrics Patricio Robles <p>According to the <a href="http://www.shsmd.org/">Society for Healthcare Strategy and Marketing Development</a> (SHSMD), there are a number of reasons for this.</p> <p>One is that historically, executives at healthcare organizations have considered marketing to be a cost center and not a profit center.</p> <p>Another is that in healthcare, marketing has a narrower purview and marketers are disconnected from strategy and product management.</p> <p>But times are changing and SHSMD says that tightening margins are forcing healthcare marketers to prove that their efforts are paying off.</p> <p>To help healthcare organizations quantify the effects of their marketing campaigns, SHSMD, which is a personal membership group of the American Hospital Association, formed a Marketing Metrics Committee to help establish a standard framework and metrics for measuring healthcare marketers' contributions.</p> <p>SHSMD recently released a white paper, <em><a href="http://www.shsmd.org/resources/marketing/reports.shtml">Life Beyond Promotion: Core Metrics for Measuring Marketing's Financial Performance</a></em>, that details the committee's recommendations.<em><br></em></p> <p>The committee identified four areas where marketing plays a role – growth, brand and image, stakeholder engagement, and marketing communications – and sought to define where marketing has responsibility and influence.</p> <p>It then developed a list of 17 core metrics that financial executives and healthcare marketers believed were of the greatest importance and how frequently they should be evaluated.</p> <p>These metrics include Volume Change, Increased Revenue, New Patient Acquisition, Brand Awareness and Patient Satisfaction.</p> <p>Metrics related to Marketing Communications, which seek to "influence utilization and loyalty," distinguish between different types of media (paid, earned, owned, etc.).</p> <p>Not surprisingly, a poll of 34 senior healthcare marketers reveals that growth and brand metrics like Volume Change and Organizational Reputation have been widely adopted, while adoption of a number of Marketing Communications metrics, namely Owned and Paid Media, lag. </p> <p>Most worringly, just 57% of the healthcare marketers surveyed indicated Patient Satisfaction is being measured.</p> <p>This suggests that many healthcare organizations may not currently be connecting the dots between how customer perception of their services can work for or against marketing efforts that directly and indirectly influence the metrics they weigh the most.</p> <p><img src="https://assets.econsultancy.com/images/resized/0007/5066/hcmetrics-blog-flyer.png" alt="" width="470" height="486"></p> <p>Also not surprising is the fact that CFOs were big on measuring marketing's contribution to growth, brand and image, but weren't as enthusiastic about measuring its contribution to stakeholder engagement and marketing communications.</p> <p>Again, this suggests that there could be a disconnect between how all of these areas relate to and impact each other.</p> <p><img src="https://assets.econsultancy.com/images/0007/5068/hccforating.png" alt="" width="239" height="206"></p> <p>The good news is that the SHSMD's white paper provides healthcare organizations and marketers with practical, actionable recommendations and next steps that can be used to advance the measurement conversation in a meaningful way.</p> <p>As the white paper's authors note, "marketing, like any discipline, needs a solid context within its organization" and "the absence of measurable standards is no longer acceptable."</p> tag:www.econsultancy.com,2008:BlogPost/67869 2016-05-20T14:17:38+01:00 2016-05-20T14:17:38+01:00 10 tremendous digital marketing statistics from this week Nikki Gilliland <h3>60% of customers abandon baskets due to slow delivery</h3> <p>A survey by Dropoff has discovered that customers are abandoning online baskets because their expectations for delivery are not being met.</p> <p>40% of consumers said delivery is a very important factor in determining whether or not they make a purchase.</p> <p>Likewise, 77% said that free shipping would be more likely to encourage them to buy from a retailer again, and one in three said they are usually irritated when a company charges for delivery.</p> <p>With Walmart announcing the launch of ShippingPass, an annual membership that competes with the likes of Amazon Prime, the future of retail is predicted to be <a href="http://www.forbes.com/sites/kathleenkusek/2016/05/14/walmart-tries-to-capture-iwwiwwiwi-shoppers-with-free-delivery/#45c45ac01160">fast, free shipping</a>.</p> <h3>Trump tops Democrats in subscriber email engagement</h3> <p>Despite having a much smaller subscriber list than his rival candidates, Donald Trump’s emails are coming out top in terms of audience engagement.</p> <p>From analysis of email data by <a href="https://returnpath.com/resources/interactive-tools/email-for-president-2016/">Return Path</a>, it was found that Trump has maintained the highest email open rate over both Hillary Clinton and Bernie Sanders.</p> <p>Interestingly, while Sanders has had less success with open-rate, he does have the lowest ‘deleted without opening’ rate, demonstrating his audience’s staunch devotion regardless of the message.</p> <p><img src="https://assets.econsultancy.com/images/0007/5156/Candidates.PNG" alt="" width="650" height="237"></p> <p><img src="https://assets.econsultancy.com/images/0007/5143/Trump_Email_Opens.PNG" alt="" width="700" height="425"></p> <h3>AdBlock Plus reaches 100m users</h3> <p>As we mentioned in last week’s <a href="https://econsultancy.com/blog/67849-the-10-top-digital-marketing-statistics-from-this-week/">roundup</a>, control over online browsing remains an important issue for young people, with 93% of millennials saying they would consider using an ad blocker.</p> <p>It appears that many are doing more than just considering it. </p> <p>This week the co-founder of AdBlock Plus, Till Faida, announced the company has reached the milestone of 100m users, making it the most popular product of its kind. </p> <h3>Contextual insight in apps is the key to customer loyalty</h3> <p>A study by Forrester Consulting has found <a href="https://econsultancy.com/blog/66837-three-points-to-consider-when-developing-a-mobile-app-strategy/">mobile apps</a> that have greater personalisation and user context gain 15% more customer loyalty than those that don’t.</p> <p>Weather, location data, and user recommendations are all factors that matter. </p> <p>Overall, a company that has a ‘great’ app as opposed to just a ‘good’ one is likely to earn five times more mobile commerce revenue.</p> <p><img src="https://assets.econsultancy.com/images/0007/5158/weather_app.jpg" alt="" width="750" height="499"></p> <h3>Brands are failing to build long-lasting relationships</h3> <p>According to a survey by Oliver, brands are failing to retain customers after the point of purchase due to issues of mistrust. </p> <p>Out of 1,000 consumers surveyed, 67% said the biggest reason for feeling detached from a brand would be concerns over the safety of customer data. </p> <p>Another big reason for detachment is either too much or too little communication.</p> <p>51% said they felt brands sent too many emails, yet 50% reported difficulty in speaking to somebody over the phone.</p> <h3>Social media stars in demand by retailers</h3> <p>Research by <a href="http://www.affili.net/uk/home">Affilinet</a> has discovered that two-thirds of retailers operating online would like to work with a social media influencer on a future marketing campaign.</p> <p>The top three personalities cited as the most in demand are:</p> <ul> <li>Zoella (21%)</li> <li>Tess Holliday (19%)</li> <li>Kayla Itsines (17%)</li> </ul> <p>Just 24% of those surveyed said they already had experience working with bloggers and vloggers, which means 2016 looks set to see even more of a boost for influencers.</p> <p>You can find out more this topic in our <a href="https://econsultancy.com/reports/the-rise-of-influencers/">Rise of Influencers</a> report.</p> <p><img src="https://assets.econsultancy.com/images/0007/5147/Zoella.jpg" alt="" width="640" height="426"></p> <h3>SMB's believe Brexit will have a negative impact on data privacy</h3> <p>According to research by Artmotion, almost half of small business owners believe that Britain leaving the EU will have a negative impact on data privacy. </p> <p>In a survery of 500 SMB's, 44% said they believed the outcome will be harmful, despite the government’s promise of a £2bn investment in cyber security.</p> <p>34% of those surveyed said they remain unsure.</p> <h3>Clothing drives online sales in April</h3> <p>Despite reports of sluggish sales on the high street, e-tailers saw an 11% increase in sales this April.</p> <p>As highlighted by the <a href="http://www.imrg.org/imrg-capgemini-e-retail-sales-index">IMRG Capgemini eRetail Sales Index</a>, with clothing and apparel seeing a 15% increase, it appears our appetite for footwear, accessories and lingerie are behind the surge.</p> <p>With a 13% decline in sales from last year, alcohol is the worst performing sector. </p> <p>This has been put down to bad weather delaying our favourite sunny pastime – the great British BBQ.</p> <h3>6% of people say their mobile phone has replaced their wallet</h3> <p>New research from Nationwide Building Society has revealed that the mobile phone is becoming the primary method for a range of activities. </p> <p>29% of people surveyed said their mobile had already replaced their watch, 22% said it had replaced their diary, and 14% said home computer.</p> <p>With a third of people having used their phone to make a mobile payment, factors like security, convenience and ease-of-use are most important when doing so. </p> <p><img src="https://assets.econsultancy.com/images/0007/5150/mobile_payments.jpg" alt="" width="750" height="499"></p> <h3>Non-sport brands set to benefit from World Cup fever </h3> <p>Football-related shopping will ramp up from next week, says eBay.</p> <p>According to data from last year, searches for ‘flat screen TV’, ‘sound bar’ and ‘projector’ saw a big spike on the 26th May, and a similar trend is expected this year.</p> <p>Electronics isn’t the only non-sports category that could benefit.</p> <p>It is predicted that the ‘halo effect’ of the tournament will help a multitude of brands tailor their product to the specific needs and interests of the consumer. </p> <p>A strong presence on mobile is also likely to lead to increased buyer behaviour. </p> <p>Last year, it was found that females were 54% more likely to be shopping on mobile over desktop during England’s final game - a stat that undoubtedly contributed to the invention of the (totally ludicrous) phrase ‘football widows’. </p> tag:www.econsultancy.com,2008:RoundtableEvent/809 2016-05-20T12:12:48+01:00 2016-05-20T12:12:48+01:00 Using Data & Analytics to Optimise the Customer Journey <p><strong>Exclusively available for Econsultancy Enterprise subscribers,</strong> this roundtable gives you the chance to meet with your peers, share best practice and get insight into how they are managing their challenges in particular areas of Data &amp; Analytics.<br></p> <p><strong>Agenda</strong></p> <p>Agenda points to be published soon...</p> tag:www.econsultancy.com,2008:Report/4102 2016-05-17T10:10:00+01:00 2016-05-17T10:10:00+01:00 The Role of CRM in Data-Driven Advertising <p>In today’s world of multichannel shopping, <strong>CRM increasingly means combining digital, mobile and social data together with data tracked or projected from traditional touchpoints</strong> - which is no mean feat.</p> <p>While some businesses claim they are doing a good job of joining up traditional offline data with online, the reality is that most are lacking the know-how and infrastructure to do this properly.</p> <p>The proliferation of data silos and fragmented team structures means that the goal of being able to identify individual customers to a granular level and target them with personalised content and experiences is, for many companies, as elusive as it’s ever been.</p> <p><strong>The Role of CRM in Data-Driven Advertising</strong> report, produced in partnership with <a title="Sociomantic Labs" href="https://www.sociomantic.com/"><strong>Sociomantic Labs</strong></a>, investigates the <strong>extent to which marketers are using CRM data to plan and optimise their marketing</strong>. It also looks to assess the current impact CRM is having upon email, display advertising, social advertising, websites and customer journeys in particular.</p> <p>The report features <strong>in-depth opinions from senior-level executives working within ecommerce, digital and marketing departments</strong>, from companies including AllSaints, Camelot, Natue.com, Occam, Reed.co.uk, Skipton Building Society, Sole Society, TalkTalk, UK grocery retailer and Patron Direct.</p> <h2>What you'll learn</h2> <ul> <li>Why is CRM important?</li> <li>Where does CRM sit within the organisation?</li> <li>What role does CRM play in cross-channel marketing?</li> <li>What types of CRM segmentation and personalisation are being used for online marketing?</li> <li>Which CRM technology and tools are businesses choosing to invest in?</li> <li>How is customer lifetime value (CLV) being measured?</li> <li>How does having a CLV strategy benefit CRM?</li> <li>What are the main challenges with CRM?</li> <li>What are the future trends and predictions for CRM?</li> </ul> <h2>Who should read this report?</h2> <p>This report is for anyone interested in CRM, in particular brand marketers who are just about to, or have already started using CRM as part of their data-driven advertising.</p> tag:www.econsultancy.com,2008:BlogPost/67837 2016-05-17T01:30:00+01:00 2016-05-17T01:30:00+01:00 How data-driven CX initiatives can avoid the IT 'black hole' Jeff Rajeck <p>One of the most difficult parts of improving customer experience (CX) is integrating the data from multiple touchpoints.</p> <p>In our recent survey, <a href="https://econsultancy.com/reports/customer-experience-maturity-in-australia-and-new-zealand">CX Maturity in Australia &amp; New Zealand</a>, marketers said that 'difficulty unifying different sources of customer data' was one of the top three barriers preventing organizations from improving CX.</p> <p>To make things even more challenging, unifying data typically requires help from the IT department which has its own priorities to manage.</p> <p><strong>So how can marketers move forward with data-driven CX initiatives under such difficult circumstances?</strong></p> <p>To find out, Econsultancy recently invited dozens of client-side marketers in Bangkok, Thailand for roundtable discussions to discuss this and other customer experience (CX) topics.  </p> <h3>About the roundtables</h3> <p>The roundtables covered three topics all related to CX and were moderated by subject matter experts from Econsultancy and our event sponsor IBM. </p> <p>Client-side marketers brought experiences from many different companies and industries and openly discussed their success stories and challenges with the group.</p> <p>Below is a summary of the main talking points taken from the table which discussed joining up online and offline data channels.</p> <p><img src="https://assets.econsultancy.com/images/0007/4868/bangkok-cx-3.jpg" alt="" width="800" height="533"></p> <h3>Challenges when dealing with IT</h3> <p>Participants first stated that joining online and offline data is essential for companies who want to provide a consistent customer experience (CX) across touchpoints.</p> <p>Doing so, however, is difficult as marketers often need help from the IT department to get a single view of customer data.</p> <p>There were a number of reasons mentioned why this presents such a challenge and a few examples of how attendees worked around the problem.</p> <h3>1. Limited budget</h3> <p>Participants reported that when they start a CX initiative that requires online and offline data integration, the first thing they typically hear from IT is that there is no budget for such a project.</p> <p>A <a href="http://www.idgenterprise.com/resource/research/2015-big-data-and-analytics-survey/">2015 survey conducted by IDG of more than 1,000 IT professionals</a> backs up this notion.  </p> <p>When asked about the challenges that they face with data-driven initiatives, the most popular response was 'limited budgtet'.</p> <p><img src="https://assets.econsultancy.com/images/0007/4866/bangkok-cx-1.jpg" alt="" width="800" height="275"></p> <p>Additionally, <a href="https://econsultancy.com/reports/customer-experience-maturity-in-australia-and-new-zealand">the Econsultancy CX survey of marketers from Australia &amp; New Zealand</a> showed that nearly two-in-three (65%) have not allocated budget for CX.</p> <p><img src="https://assets.econsultancy.com/images/0007/4867/bangkok-cx-2.jpg" alt="" width="400" height="266"></p> <h4><strong>So what are marketers to do?</strong></h4> <p>One way that participants got around this problem was to <strong>launch the CX data collecting initiative at low or no cost</strong>.  </p> <p>That way there can be no objections when it is getting started and, hopefully, its success will attract attention and funding.</p> <p>One fashion retailer encouraged offline staff to get customers to use its online systems, such as product search and account registration, when shopping.  </p> <p>That way, marketers were able to get both offline data from customers in the store and online data from when customers used the website later.</p> <h3>2. Legacy systems</h3> <p>A few of the marketers said that their IT departments are wary of any new initiatives because of the difficulty of working with legacy systems.</p> <p>Again, the IDG survey shows that many IT professionals agree. More than two-in-five (41%) IT leaders of companies with more than 1,000 employees said that 'legacy' issues was a challenge with data-driven initiatives.</p> <p>Problems with legacy systems are difficult for non-IT people to understand, much less fix.</p> <p><strong>What can marketers do to overcome this barrier?</strong></p> <p>First off, attendees noted, make sure you have someone in marketing who understands the IT systems to some extent.  </p> <p>It's impossible to have a serious discussion when you don't understand the issues.</p> <p>Then <strong>try to find a compromise.</strong> One participant argued that it's often easier to read data than write it, so start by just taking data from legacy systems.</p> <p>Another marketer mentioned that his company was able to improve its CX to a great extent just by making its 'reward points' available via an app.  </p> <p>The points were still collected and spent using the old IT systems, but marketing gained a huge CX win just by making it easier for customers to obtain their balance.</p> <h3><img src="https://assets.econsultancy.com/images/0007/4869/bangkok-cx-4.jpg" alt="" width="800" height="533"></h3> <h3>3. Data silos</h3> <p>Most businesses, attendees noted, are not customer-centric. Instead, they are divided into different departments and each has its own technology and databases.</p> <p>Because of this, <strong>each department has its own customer data, in its own format.</strong>  As a result, there is no single view of the customer in the organisation.</p> <p>This is made worse when each department has its own IT people and so there is no motivation for anyone to combine customer data.</p> <p><strong>How can you get around this?</strong></p> <p>One approach, attendees noted, is to think first about how marketing can deliver value to the customer in a way which also collects data.  </p> <p>This way, marketing will then have a valuable data asset which can be used as a 'chip' when negotiating for data from other departments.</p> <p>One participant mentioned that her company was able to collect valuable data from customers when they were in the retail store, even without point-of-sale integration.  </p> <p>Once the popularity of the app took off, the department responsible for sales data offered to integrate in exchange for access to the app data.</p> <p><img src="https://assets.econsultancy.com/images/0007/4870/bangkok-cx-5.jpg" alt="" width="800" height="533"></p> <h3>So...</h3> <p>Customers expect brands to be able to deliver a coordinated online and offline experience.</p> <p>The best way to do this is to make sure that online and offline data are integrated, despite all of the barriers.</p> <p>According to one attendee, it's up to the companies to rise up to the challenge and overcome internal technology hurdles in the name of meeting our customers' high expectations.</p> <h3>A word of thanks</h3> <p>Econsultancy would like to thank all of the client-side marketers who participated on the day and our sponsor for the event, IBM.</p> <p>We would like to extend a special thanks to the moderator for the 'joining up online and offline data channels' table: Nuttakorn Rattanachaisit, co-founder &amp; MD of Predictive Co. Ltd</p> <p>We appreciate all of the helpful discussion points participants provided on the day and we hope to see you all at our upcoming Econsultancy events!</p> <p><img src="https://assets.econsultancy.com/images/0007/4871/bangkok-cx-6.jpg" alt="" width="800" height="533"></p> tag:www.econsultancy.com,2008:BlogPost/67849 2016-05-13T12:20:00+01:00 2016-05-13T12:20:00+01:00 The 10 top digital marketing statistics from this week Nikki Gilliland <p>Now, let's get going!</p> <h3>Apple invests $1bn in Uber rival</h3> <p>Hot on the wheels of Uber is Didi Chuxing, a taxi service now transporting an average of 300m people per day across China.</p> <p>Following backing from internet companies Alibaba and Tencent, Apple’s $1bn recent investment will help Didi Chuxing roll out in more cities, as well as potentially overtake Uber’s $62.5bn valuation.</p> <p><img src="https://assets.econsultancy.com/images/0007/4929/Uber.jpg" alt="" width="750" height="499"></p> <h3>Millennials are twice as likely to share video ads</h3> <p>Research by tech company Unruly has found that 18-34 year olds are 112% more likely to share video ads compared to other age groups, with videos that have an emotional response being the most successful.</p> <p>In a survey of 3,200 people, Unruly also discovered that 63% of <a href="https://econsultancy.com/blog/67822-four-great-examples-of-marketing-to-millennials/">millennials</a> demand control over their videos - 93% are reported to have considered using an ad blocker.</p> <h3>Leicester City doubles its online traffic</h3> <p>With 4.7m visits from August to April, the newly-crowned Premier League winners have seen 116% growth in online traffic compared to last year.</p> <p>But as <a href="https://www.similarweb.com/blog/leicester-city">SimilarWeb reports</a>, Manchester United remains the most-viewed football club website in the world, with a whopping 65.2m visits worldwide.</p> <p><img src="https://assets.econsultancy.com/images/0007/4930/Leicester_City.PNG" alt="" width="576" height="408"></p> <h3>Two-thirds of Euro 2016 viewers will use more than one device</h3> <p>It is predicted that Euro 2016 will be a ‘second-screen fest’.</p> <p>A what, you ask?</p> <p>In plain English, this simply means the act of using more than one technological device at one time.</p> <p>In a survey of around 1,000 people aged 16 and over, RadiumOne found that 66% of fans watching football on traditional television will use another internet-connected device to keep up with what else is going on. </p> <p>Reading online comments and chatting with others about the game are said to be the most popular second-screen activities. </p> <p><img src="https://assets.econsultancy.com/images/0007/4931/Euro_2016.png" alt="" width="540" height="346"></p> <h3>82% of consumers switch devices during tasks</h3> <p>This week’s Adobe Summit focused on <a href="https://econsultancy.com/blog/67839-how-l-oreal-uses-personalisation-to-increase-brand-loyalty/">personalisation</a> as well as the overall customer experience, but recent research has highlighted how brands are failing to deliver a consistent journey across all channels.</p> <p>Results from the latest <a href="http://www.adobe.com/uk/solutions/digital-marketing/digital-index.html">Adobe Digital Index</a> (an analysis of the behaviour of over 5,000 consumers) show that just 40% of consumers report a consistent experience.</p> <p>This is due to the growing habit of switching devices during online tasks like researching products, replying to emails, and streaming music or TV.</p> <h3>Consumer conversions increase on mobile</h3> <p>Marin Software’s latest <a href="http://www.marinsoftware.com/resources/whitepapers/the-q2-2016-performance-marketers-benchmark-report-vital-search-social-and-display-performance-data-by-device">report</a> highlighted some interesting ways consumers are now using mobile. Here are its top three stats:</p> <ol> <li>Search conversions on smartphones increased 10% year-on-year.</li> <li>Display conversions have grown 26%, clicks are up 13% and impressions have increased by 10% on smartphones.</li> <li>Social conversions will be 50% mobile by the end of the year.</li> </ol> <p>With shopping on smartphones becoming the norm, investment in mobile-optimisation will also increase in 2017.</p> <h3>Women outspend men for American Mother’s Day</h3> <p>In the run up to Mother’s Day last week (<em>only</em> in the US – don’t worry Brits) search company NetElixir conducted some interesting research about the buying habits of consumers.</p> <p>Over a three-week period, the company found that women spent more than men by 18%.</p> <p>However, compared with Valentine’s Day where millennials are the biggest spenders, 35-44 year olds were found to splash the most cash.</p> <p>In even more good news for mums, overall spend levels were up by 13% this year compared to last.</p> <h3>Shopper abandonment rates are decreasing</h3> <p>According to SalesCycle’s Remarketing Report, efforts to improve personalisation and greater customer insight has resulted in fewer shoppers abandoning their baskets. </p> <p>Down from 76.6% to just over 74% - the lowest rates are found in North America and Europe. </p> <p><img src="https://assets.econsultancy.com/images/0007/4932/Abandonment_Rates.PNG" alt="" width="722" height="469"></p> <h3>Online travel bookings are on the rise</h3> <p>A survey by <a href="https://markmonitor.com/download/report/MarkMonitor_Online_Barometer-2016-UK.pdf">MarkMonitor</a> has found that over two-thirds of global consumers now book travel exclusively using the internet.</p> <p>Despite this fact, satisfaction levels remain low.</p> <p>Seven out of every 100 people surveyed reported that they were unhappy with their travel experience.</p> <p>Naturally, the same customers took to the internet to express their dissatisfaction, with 42% posting a negative review, 40% attempting to get a refund, and 35% complaining to a licensed body.</p> <h3>Searches for discount deals up by 40%</h3> <p>According to analysis from <a href="http://hitwise.connexity.com/05.09.2016_DealSeekingInspire_CD_US.html">Hitwise</a>, a division of Connexity, searches for discount deals and coupons are on the rise, seeing an increase of 40% last year.</p> <p>Shoes and boots come top of our wishlists, with searches for footwear sales being the most common.</p> <p>Similarly, the popularity of the search term ‘coupon codes’ demonstrates a shift towards a mostly digital shopping experience.</p> tag:www.econsultancy.com,2008:TrainingDate/2948 2016-05-11T09:19:05+01:00 2016-05-11T09:19:05+01:00 Digital Marketing Measurement and Analytics - Singapore <p style="border: 0px; color: #333333;">If you are to get the best results from digital marketing, leveraging digital insights is essential.</p> <p style="border: 0px; color: #333333;">This course focuses on how to analyze and improve the efficiency and effectiveness of digital marketing. Measurement and metrics enable marketing professionals to justify budgets based on returns, and to drive organizational growth and innovation.</p> <p style="border: 0px; color: #333333;">By analyzing digital visitor segments and behaviors, you’ll learn how to produce a plan to develop the most appropriate metrics, tools and digital marketing improvement process for your organization.</p> <p style="border: 0px; color: #333333;">You will also take a deeper look at interpreting and acting on digital analytics data.  You will learn how to manage conversions with practical examples on using digital analytics to gain insights on your visitors, visitor behavior, engagement and conversion goals.</p> tag:www.econsultancy.com,2008:BlogPost/67828 2016-05-10T14:58:27+01:00 2016-05-10T14:58:27+01:00 Palantir's woes bring Big Data challenges into focus Patricio Robles <p>That's <a href="https://www.buzzfeed.com/williamalden/inside-palantir-silicon-valleys-most-secretive-company">according to</a> BuzzFeed's William Alden, who obtained internal documents detailing how Palantir has struggled with some of its blue chip clients, some of which pay more than $1m per month for the company's services.</p> <p>According to Alden three of those clients, Coca-Cola, American Express, and Nasdaq, "have walked away" in the past 13 months, and Palantir's effort to create a data sharing consortium for CPG companies "has stumbled."</p> <p>The documents also reveal that not all of Palantir's current clients are convinced that their collaborations are paying off yet.</p> <p>For example, Alden points to Michele Buck, the North American president for The Hershey Company, who indicated that the company "did not see value from Palantir in 2015."</p> <p>A Hershey Company spokesperson told BuzzFeed that it considers Palantir "a valued partner" and stated "we have now identified areas for commercial and operational value and are targeting our efforts there," but Alden's story highlights a number of challenges that companies are facing as they seek to take advantage of Big Data.</p> <h3>Big data requires people</h3> <p>Companies have more data than ever, but data on its own only becomes truly valuable when it's translated into actionable insight.</p> <p>One of Palantir's selling points is that it has the brilliant people required to do just that. But even with more than $2bn in funding and access to the Silicon Valley labor pool, the company has apparently struggled to retain employees.</p> <p>According to Alden:</p> <blockquote> <p>A chart from Palantir’s internal wiki said the departures through mid-April amounted to 5.8% of all staff, or an annualized rate of 20%. That compares to a departure rate of 13.6% in 2015, 12.2% in 2014, and 9.2% in 2013. </p> </blockquote> <h3>Domain expertise is often important</h3> <p>But delivering actionable insight isn't just about having butts in seats. It's about having the right butts in seats.<br></p> <p>Coca-Cola conducted a pilot with Palantir in 2014 that was designed, in part, "to help revive sales of Diet Coke in North America through analysis of customer data."</p> <p>But the beverage behemonth ultimately decided not to sign a five-year agreement with the big data analytics firm.</p> <p>An internal email from a Palantir executive revealed that Coca-Cola "wanted deeper industry expertise in a partner" and that the brand's staff often found it hard to work with Palantir's team which, like many companies in Silicon Valley, skews young.</p> <h3>Data is cheap but Big Data analytics is expensive</h3> <p>Then there's the issue of cost. While generating and storing data is increasingly cheap, hiring a company like Palantir to make sense of it isn't.</p> <p>Coca-Cola "balked" at the contract Palantir presented, which called for $18m in fees in the fifth year of the deal.</p> <p>And Kimberly-Clark, when presented with an agreement that also called for $18m per year in fees, also got cold feet. According to an email from a Palantir executive, the CPG giant "wanted to see if they could do it cheaper themselves."</p> <p>That makes sense. After all, if Big Data analytics can really move the needle in a big way, wouldn't companies like Coca-Cola and Kimberly-Clark want it to become a core competency?</p> <p>Paying a third-party, one which may not have industry expertise and also faces staff turnover risk, might be easy, but it seems like a short-sighted strategy.</p> <h3>The Palantir response</h3> <p>Palantir has taken steps to address staff turnover issues and suggests that its turnover is expected given that its "really strong culture" isn't for everyone.</p> <p>It can also point to seemingly successful relationships like those it has with oil company BP, bank Credit Suisse, credit card processor First Data and insurer Axa.</p> <p>Palantir's 10-year deal with BP could be worth more than $1.2bn.</p> <p>One Palantir business development rep felt that executives at American Express were "low-vision," a reminder that shared vision and values, not just technology and smarts, can make or break relationships for firms like Palantir and their clients.</p> <p>Finally, <a href="https://www.quora.com/What-does-Joe-Lonsdale-think-of-BuzzFeeds-Inside-Palantir-article">according to</a> Palantir co-founder Joe Lonsdale, who is no longer involved in the company's day-to-day operations:</p> <blockquote> <p>[Palantir] had been expansive in who it worked with and then scaled with the areas that made sense and were aligned with its ethos and goals. Of course a few of its client relationships might not have worked out - if that wasn't the case it would have meant they weren't exploring new industries properly.</p> </blockquote> <p>That is perhaps the key take-away for brands exploring their Big Data opportunities.</p> <p>As the number of third parties offering products and services that promise to turn Big Data into big bucks grows, brands should remember that many of these firms are themselves trying to figure out their own markets and will experiment accordingly.</p> <p>The obvious risks this creates doesn't necessarily mean that brands should bring their Big Data efforts completely in-house.</p> <p>But the realistic, forward-thinking ones probably won't put all their eggs in one basket either.</p> tag:www.econsultancy.com,2008:BlogPost/67748 2016-04-28T11:00:42+01:00 2016-04-28T11:00:42+01:00 Three ways marketers can benefit from the drone revolution Patricio Robles <h3>1. Drones allow marketers to provide new perspectives</h3> <p>Drone technology literally gives marketers the ability to create compelling audiovisual content that offers perspectives never before possible, or only possible at significant cost and thus only available to marketers with significant budgets. </p> <p>The ability for even the smallest of businesses to take advantage of drone imagery is exemplified by Captain Dave Anderson, who runs Capt. Dave's Dolphin &amp; Whale Watching Safari in Dana Point, California.</p> <p>One of his drone videos of dolphins has racked up nearly 12m views on YouTube.</p> <p><iframe src="https://www.youtube.com/embed/Bo_f8mV5khg?wmode=transparent" width="560" height="315"></iframe></p> <p>While drones are becoming both more affordable and usable, even marketers without drones of their own can incorporate drone content into their campaigns as drone-captured photos and videos can increasingly be found on <a href="https://econsultancy.com/blog/2515-stock-photography-resources-and-tips">stock photo</a> and video services.</p> <h3>2. They speed time-to-market </h3> <p>Because drones are now widely available and can be put to use with little hassle, marketers are able to add new perspectives to their campaigns without suffering long delays.</p> <p>Increasingly, specialist skills aren't even required for certain applications.</p> <p>"Recently some of the sophisticated capabilities have gotten cheap and easy to use,"  Timothy Reuter, founder of the largest drone club in the US, <a href="http://www.cnn.com/2014/05/22/tech/innovation/drone-uav-photography/">told CNN</a> in 2014.</p> <blockquote> <p>The difference between the professional and hobbyist tools isn't that big anymore - that's part of the revolution.</p> </blockquote> <h3>3. The sky is now the limit when it comes to creativity</h3> <p>The new perspectives marketers can take advantage of coupled with quick time-to-market means that rapid experimentation is possible.</p> <p>Marketers can now exercise a great deal of creativity when employing drones to create content.</p> <p>But the most creative marketing-related drone applications aren't about content.</p> <p>Some trailblazing marketers are also putting drones to use in more cutting-edge ways. Drones are being used to deliver aerial advertising in a new, less costly fashion.</p> <p><iframe src="https://www.youtube.com/embed/0rUVmAbc4jw?wmode=transparent" width="560" height="315"></iframe></p> <p>And Camisaria Colombo, a Colombian clothier, even used drones to fly mannequins alongside buildings in Vila Olimpia, Sao Paulo's business district, to market its wares to businessmen.</p> <p><iframe src="https://www.youtube.com/embed/QeU4rlgmV8M?wmode=transparent" width="560" height="315"></iframe></p> <p>There are creative non-consumer-facing applications for drones too.</p> <p>Just as brick and mortar businesses are increasingly adopting technologies <a href="https://econsultancy.com/blog/64277-how-to-use-free-wi-fi-for-social-marketing-and-analytics/">like WiFi tracking to monitor customers in-store</a>, drones can be used to gather data that marketers can analyze to develop actionable business insights.  </p> <p>Obviously, regulation of how drones are used could add red tape that makes it more difficult for marketers to use drones across all of these applications.</p> <p>But the general consensus is that drones are here to stay, so in the coming year expect to see more marketers flying high.</p> tag:www.econsultancy.com,2008:BlogPost/67776 2016-04-27T01:30:00+01:00 2016-04-27T01:30:00+01:00 Joining up offline & online data channels in Singapore Jeff Rajeck <p>One of the biggest barriers to success, though, is joining up online and offline channels data.  </p> <p>So, <strong>how are companies handling to the O2O data challenge?</strong></p> <p>To find out, Econsulancy recently invited dozens of client-side marketers in Singapore to discuss progress on this and other CX topics.  </p> <h3>About the roundtables</h3> <p>The roundtables covered three topics all related to CX and were moderated by subject matter experts from Econsultancy and our event sponsor IBM. </p> <p>Delegates brought experiences from many different companies and industries and they openly discussed their success stories and challenges with the group.</p> <p>Below is a summary of the main talking points taken from the discussions around joining up online and offline data channels.</p> <p><img src="https://assets.econsultancy.com/images/0007/4244/cx.jpg" alt="" width="800" height="533"></p> <h3>What is O2O?</h3> <p>In order to figure out how companies were joining data from both online and offline channels, participants on the day first wanted to define what O2O meant to their brands.</p> <p>They arrived at three high-level definitions. To the attendees, O2O meant delivering: </p> <ul> <li>A non-stop loop of activation.</li> <li>Seamless brand presence.</li> <li>And a lasting impression.</li> </ul> <p>For each of these, participants offered real-world examples and thoughts about the data required to make them happen.</p> <h3>A non-stop loop of activation</h3> <p>If there is one thing which is always top of mind for marketers it is activating visitors and making them customers.  </p> <p>Too often, however, online and offline activations are siloed, as are the resulting customer data.</p> <p>What businesses should aim for instead, according to participants, is connecting existing online and offline customer activation initiatives.</p> <p>Doing so will amplify reach, conversions, and tracking and create a 'non-stop loop of activation.'</p> <p>The aim is an O2O campaign which is more than the sum of its parts. ROI will increase for both the online and offline portions.</p> <h4>Example</h4> <p>An example of this virtuous circle was Singtel's 'Need 4G Speed' campaign. </p> <p>The goal was to encourage more customers to recontract and purchase devices which supported the new 4G service.  </p> <p>Singtel used both online and offline advertising for the campaign and highlighted a hashtag (#need4gSpeed) in each.</p> <p>When potential searched the hashtag on Twitter they found a series of entertaining videos created with the help of a local celebrity and suggestions from the public.  </p> <p>Once there, visitors were encouraged to register online, visit a Singtel shop and participate in creating the videos.</p> <p>The online to offline experience started with a single piece of data, the hashtag, which then led visitors to more promotional, as well as entertaining, content.</p> <p><img src="https://assets.econsultancy.com/images/0007/4237/need4gspeed.jpg" alt="" width="800" height="450"></p> <h3>Seamless brand presence</h3> <p>Another aspect of CX which requires both online and offline data is ensuring that the customer has a consistent brand experience.</p> <p>This is becoming more important as the buyer's journey involves an increasing amount of touchpoints.  </p> <p>A brand which cannot offer consistent information along the journey is at risk of looking out-of-touch with the customer.</p> <p>With the right data, though, offers and recommendations can be made through both online and physical channels, say at point-of-purchase for someone using a loyalty card.</p> <p>Using data in this way has an impact across the whole marketing ecosystem, according to one participant.  </p> <p>Another suggested that brands will be using data more in this way now that convenience, offers and recommendations are valued over privacy by most consumers.</p> <p>The importance of the customer journey to marketers was highlighted in a recent global survey by Econsultancy, <a href="https://econsultancy.com/reports/understanding-the-customer-journey/">Understanding the Customer Journey: More Than Just Online</a>.</p> <p><img src="https://assets.econsultancy.com/images/0007/4239/Capture.PNG" alt="" width="626" height="430"></p> <p>Survey respondents indicated that understanding the customer journey had wide-ranging benefits from identifying cutomer pain points to driving revenue and profits.  </p> <p>Managing online and offline data effectively can help accomplish these goals to a great extent.</p> <h3>Lasting impression</h3> <p>The third way that high-quality O2O management affects CX is by leaving a positive, lasting impression of the brand with the customer.</p> <p>With the right data, brands can design promotions which are impactful at each touchpoint:</p> <ul> <li>Offline promotions to drive online behavior.  </li> <li>Online promotions to drive online visits.</li> </ul> <p>This may sound easy, but execution is very complicated.</p> <p>One participant said that the key to driving this sort of behaviour is to first be able to segment your offers, then to target the segments with offers which speak specifically to their goals.  </p> <p>Brands, then, create bridges between the online and offline through relevant and personal campaigns.</p> <h4>An example</h4> <p>Starbucks is a great example of a company that has been able to create a lasting brand impression through its use of both online and offline channels.</p> <p>Visitors who register with Starbucks and pre-pay their loyalty card unlock useful features on an app.</p> <p>The app allows smartphone users to:</p> <ul> <li>Pay for an order.</li> <li>Earn points.</li> <li>Place and pay for a customized order before arriving.</li> <li>Send gift cards.</li> <li>And even find out what songs are being played at their local Starbucks.</li> </ul> <p>Then, when the person visits the store and pays with the app, Starbucks can register their visit and use it to make better, more relevant offers for the customer.</p> <p>One participant said linking up online and offline data to this extent is almost like placing an 'offline cookie' on the customer.</p> <p><img src="https://assets.econsultancy.com/images/0007/4240/starbucks_reward_card_singapore.jpg" alt="" width="800" height="534"></p> <h3>So...</h3> <p>Joining up online and offline data is essential for brands that are trying to provide excellent CX through both physical and digital channels.</p> <p>Doing so well allows brands to create virtuous circles of activations, a brand presence which extends between the mediums, and leave a lasting impression on customers to keep them coming back for more.</p> <h3>A word of thanks</h3> <p>Econsultancy would like to thank all of the client-side marketers who participated on the day and our sponsor for the event, IBM.</p> <p>We would like to extend a special thanks to the table moderator for the Joining Up Online and Offline Channels Data table, <strong>Bilal Serlaman, Regional Marketing Manager of APAC &amp; ANZ at EXFO.</strong></p> <p>We appreciate all of the helpful discussion points participants provided on the day and we hope to see you all at our upcoming Econsultancy events!</p> <p> <img src="https://assets.econsultancy.com/images/0007/4243/Untitled.jpg" alt="" width="800" height="547"></p>