tag:www.econsultancy.com,2008:/topics/data-analytics Latest Data & Analytics content from Econsultancy 2017-10-17T01:00:00+01:00 tag:www.econsultancy.com,2008:BlogPost/69500 2017-10-17T01:00:00+01:00 2017-10-17T01:00:00+01:00 The four habits of successful data-driven marketers Jeff Rajeck <p>On top of that, we use audience data for segments, behavioural data for optimization, and customer feedback data to find and solve customer experience issues.</p> <p>With all of these various ways of using data, though, how can we be sure we're doing our jobs correctly? That is, <strong>are we truly marketing in a 'data-driven' fashion?</strong></p> <p>To find out, Econsultancy recently invited dozens of data-driven marketing experts to Digital Cream Sydney to discuss what they do, the problems they face, and how they overcome obstacles. Through roundtable discussions led by Danielle Grant, senior marketing manager at PayPal, best practices emerged which attendees agreed were key to the success of data-driven marketing.</p> <p>Before we start, though, we'd like to let you know about an Advanced Mastering Analytics training course we are offering on November 8th in Singapore. You can <a href="https://econsultancy.com/training/courses/advanced-mastering-analytics-training-singapore/dates/3244/">find out more and reserve your spot here</a>.</p> <h3>The keys to data-driven success</h3> <p>So what do successful data-driven marketers do that others may not?  </p> <h3>1) They obsess about data management</h3> <p>Participants said that the first step toward data-driven success is to devise a data management strategy, and<strong> a good data strategy starts with a data audit.</strong></p> <p>The audit does not need to be complicated; it may simply consist of writing down the answers to a few key questions: </p> <ul> <li> <strong>What data do you have?</strong> Make a list of everything you use and identify gaps.</li> <li> <strong>Where is it housed?</strong> Ensure you understand where data originates and 'lives'.</li> <li> <strong>Who currently has permissions to access it? </strong>Is it everyone who needs it? </li> </ul> <p>Then, once data assets are identified, <strong>marketers should also establish a data governance policy.</strong> The policy should state who is responsible for maintenance, who has editing rights, and what data is available to everyone. Ideally, the policy should state who the data 'owner' is and avoid having too many additional stakeholders involved.</p> <p>Next, those with editing rights to the data should keep the shared data clean. As one participant said, "if something bad goes into your data, then you should expect bad stuff coming out". </p> <p>Finally, there should be a common data language which allows the organisation to unify the data. Bring in experts if need be, one attendee suggested, as<strong> the benefits of having well-integrated systems far outweighs the cost of a temporary consultant.</strong></p> <p><strong><img src="https://assets.econsultancy.com/images/0008/9618/1.jpg" alt="" width="800" height="533"></strong></p> <h3>2) They test hypotheses to get insights</h3> <p>Another distinguishing feature of data-driven marketers is that <strong>they avoid hacking the data to prove a pre-determined point.</strong> With the amount of data available now, one attendee pointed out, you can prove almost anything.</p> <p>Instead, experts approach their data with a hypothesis of what they believe to be true and use data and analytics techniques to either prove or disprove their hunch.  </p> <p>Doing so also avoids 'analysis paralysis' and ensures that insights are gathered in a reasonable amount of time.</p> <h3>3) They stick to one attribution model</h3> <p>One of the main topics discussed by delegates on the day was marketing attribution models. Specifically, <strong>which attribution model is the 'right' model?</strong></p> <p>Instead of giving a quick answer, though, the subject matter experts asked another question,<strong> "what story are you trying to tell?"</strong> If marketers wanted to identify the superiority of a particular channel, then focusing on its place in the acquisition process should be a priority. If it was that acquisition happens across many channels, then a more complicated attribution model should be considered.</p> <p>Also, data-driven marketers should consider a channel's impact across the customer funnel rather than what gets people to the site.</p> <p>Whatever is chosen, though, <strong>a single attribution model should be used consistently across campaigns</strong>. Changing attribution models makes it difficult to compare data across various marketing activities and confuses stakeholders. </p> <p>A single model also makes the inevitable internal dialogues on the subject much more productive.</p> <p><img src="https://assets.econsultancy.com/images/0008/9622/2.jpg" alt="" width="800" height="533"></p> <h3>4) They insist on transparent agency relationships</h3> <p>Another habit of successful data-driven marketers identified by participants is that <strong>they maintain a transparent relationship with agencies and avoid being kept at a distance from campaign data.</strong></p> <p>While many acknowledged that there is often pressure to get campaigns out the door quickly, data-driven marketers must be strong and insist on knowing: </p> <ul> <li>how audience data is acquired and used,</li> <li>how well each target segment is performing, and</li> <li>what steps are being taken to optimize performance.</li> </ul> <p>This is not only to 'keep an eye' on agencies, but, as one attendee described, "if there is shared ownership of information, there can be a shared ownership of the outcome, be it positive or negative."</p> <h3>The north star</h3> <p>A final point raised was that whatever the approach,<strong> data-driven marketers should have the best outcome for the customer as their 'north star'.</strong> They should avoid using tricks or anything remotely unethical in order to improve numbers.</p> <p>Doing so, everyone agreed, will deliver the business results that people are looking for from data-driven marketing.</p> <h3>A word of thanks</h3> <p>Econsultancy would like to thank all of the marketers who participated on the day and especially our Data-Driven Marketing table moderator, <strong>Danielle Grant, senior marketing manager at PayPal.</strong></p> <p>We hope to see you all at future Sydney Econsultancy events!</p> <p><img src="https://assets.econsultancy.com/images/0008/9623/3.jpg" alt="" width="800" height="533"></p> tag:www.econsultancy.com,2008:BlogPost/69427 2017-10-09T12:30:00+01:00 2017-10-09T12:30:00+01:00 A day in the life of... general manager at MaxPoint Ben Davis <p>In practice, that means adtech combined with measurement software, offline location and sales data and even in-store sensor tech. So, let's find out what Paul does with his day (and remember, if you're looking for new opportunities yourself, head to the <a href="https://jobs.econsultancy.com/?cmpid=EconBlog">Econsultancy jobs board</a>).</p> <h4> <em>Econsultancy:</em> Please describe your job: What do you do? And who do you report to?</h4> <p><em><strong>Paul Maraviglia:</strong></em> As general manager of MaxPoint Europe, I report to our COO, Gretchen Joyce, who is based in the US. I work in London where I manage MaxPoint’s European operations, with a team of twelve sales, account management and data insights consultants supporting me.</p> <p>We work together to elevate our client’s success, focusing on optimising data to offer a complete view of the consumer, their location and interests, as well purchase intent. </p> <h4> <em>E:</em> What kind of skills do you need to be effective in your role?</h4> <p><em><strong>PM:</strong></em> I rely on having a good understanding of the digital ecosystem, as well as the retail and FMCG landscapes. Although knowledge of retail technology is vital, it is not valuable unless it is communicated clearly to clients, to ensure they understand the multiple opportunities our data can provide. </p> <p>Networking skills are also imperative to success; the ability to leverage strong relationships with key agencies and retail clients is a must.</p> <p><img src="https://assets.econsultancy.com/images/0008/9485/pm.jpg" alt="paul maraviglia" width="350"></p> <h4> <em>E:</em> Tell us about a typical working day… </h4> <p><em><strong>PM:</strong></em> The first thing I do every morning is read the trade press and MaxPoint’s internal insights so I am up to date with the relevant news for the day ahead. The first half of my day usually consists of a number of meetings with our partner tech vendors as well as external meetings with my sales team. </p> <p>At 2pm, my US colleagues come online, so my afternoon is spent on conference calls with various teams, such as business analytics, marketing, insights and financial management. </p> <h4> <em>E:</em> What do you love about your job? What sucks?</h4> <p><em><strong>PM:</strong></em> There are many things I love about my job, so I won’t list them all! But mainly, it is that no two conversations are ever the same due to our diverse group of clientele, which ranges from FMCG to beauty. </p> <p>I love the fast-paced excitement of being a startup here in the UK. At MaxPoint, innovation and experimentation is always encouraged with the support of an established PLC in the US. Overall, building the UK team has been an amazing journey and seeing our incredible growth over the years has been extremely gratifying.</p> <p>The agency world has gradually moved towards trading agreements, which sometimes restricts opportunities with potential clients, so missing business opportunities definitely sucks! </p> <p>Also my expenses submission every month: need I say more? </p> <h4> <em>E:</em> What kind of goals do you have? What are the most useful metrics and KPIs for measuring success? </h4> <p><em><strong>PM:</strong></em> Obvious goals consist of a mixture of short-term revenue goals and longer-term growth. A key metric for me at the moment is ensuring our data sets from MaxPoint Audience Segments are in as many places as possible in the FMCG and retail industries.</p> <h4> <em>E:</em> What are your favourite tools to help you to get the job done?</h4> <p><em><strong>PM:</strong></em> I use Salesforce to manage our client base and sales pipeline, as well as Zoom for all of my video conferences.  </p> <p>We also have an internal tool, which we call MIP, that allows us to create detailed heat maps of where audiences and target profiles are most likely to be across the country, making our retail technology much more efficient.</p> <h4> <em>E:</em> How did you get into location-based tech, and where might you go from here?</h4> <p><em><strong>PM:</strong></em> I began my career in print and international television with a focus on business, luxury goods, and finance, however I soon realised digital and mobile were quickly expanding. </p> <p>In 2013 my digital journey began at Undertone, a leader in high impact digital advertising, where I headed up the European sales team. In 2015, I was approached by MaxPoint to manage their European operations, an amazing opportunity to help build a business that already had strong foundations in FMCG and retail technology.  </p> <p>MaxPoint has some great opportunities coming up and its acquisition by Valassis has just been announced, so I’m extremely excited to see what the future holds. </p> <h4> <em>E:</em> Which brands have you been impressed by recently when it comes to online-offline marketing?</h4> <p><em><strong>PM:</strong></em> Any brand that has adopted hyper-local execution into their strategy is on the right tracks, but Asda, Lloyds and Danone are definitely at the top of my list. They have demonstrated the power of combining on and offline data to gain efficient consumer insights, and use these to great effect.</p> <h4> <em>E:</em> Do you have any advice for people who want to work in retail tech?</h4> <p><em><strong>PM:</strong></em> Always be one step ahead of the consumer. Retail tech is a very competitive industry, so you need to be dynamic and understand the space to succeed. </p> <p>As well as holding knowledge of the space, you must ensure that you are always present in the retail tech market to keep this insight up-to-date. Attend events and network with relevant names in the industry wherever possible to stay on top of trends.  </p> <p>Retail tech is always developing and your job is all about making that technology more accessible to retail brands. So my advice would be to demystify technology at every opportunity and continue to demonstrate the multiple possibilities of audience insights to retailers.</p> tag:www.econsultancy.com,2008:BlogPost/69471 2017-10-04T11:38:00+01:00 2017-10-04T11:38:00+01:00 How the AA transformed its brand using political messaging & strategic insight Ben Davis <p>Calverley began by discussing the subtle changes in the perception of the word ‘insight’. “Insight is a word that has evolved quite a bit,” she said, “it used to be rich and meaningful.. but now it gets used to sum up all data and its analysis. But insight is really about what happens when you ask ‘why’ and it’s about deep human truth. It’s the job of a marketer.” </p> <p>Insight begins, Calverley said, by asking yourself a series of questions. What am I selling? Who am I selling it to? Why should they buy it from me?</p> <p>When it comes to the AA, she continued, they had to realise that “we’re not selling breakdown cover, nobody wakes up in the morning and says ‘I have to buy breakdown cover’.”</p> <p>Furthermore, the old cliché of chaps fixing cars for damsels in distress wasn’t helpful or accurate. To really understand what it is that AA customers want, Calverley and her team began with a listening exercise, in call centres and out on the roads.</p> <p><img src="https://assets.econsultancy.com/images/0008/9367/woman_crying.jpg" alt="woman in car crying" width="615" height="272"></p> <p><em>The cliché of the damsel in distress</em></p> <p>Calverley says that the plan for this research led her team to work with a political messaging company, because ultimately, “All we’ve got at the AA is words and promises, the people on the phone. And who else sells promises? Politicians.”</p> <p>The team put together an extensive survey digging into people’s motivations by looking at their instinctive reactions and beliefs.</p> <p>Then this rich research data was knitted together with the existing customer database, which was large but pretty patchy. This was done using latent class analysis, modelling the richer data on to the patchy data to produce a complete data set, with Calverley using the analogy of turning a rickety wooden bridge into a modern suspension bridge.</p> <p><img src="https://assets.econsultancy.com/images/0008/9365/research.JPG" alt="aa research" width="615"></p> <p><em>Connecting rich customer insight from survey data with customer database</em></p> <p>What this survey did was to get to the bottom of customer values and their attitudes to life, trying to find what underpins how a person buys breakdown cover.</p> <p>There were three seams to this data, as shown in the slide below. Fear and anxiety (the insurance mindset) has no effect on whether people choose the AA, but confidence does (i.e. being on top of life admin), as does simple enjoyment of driving your car and taking your family out for the day.</p> <p><img src="https://assets.econsultancy.com/images/0008/9366/findings.JPG" alt="aa research" width="800"></p> <p><em>Three key findings from the AA's customer insight work</em> </p> <p>Calverley says the brand ended up “with a picture of who we are selling to – it’s not motorists (like Jeremy Clarkson), but freedom seekers. The person who runs the family (50/50 male, female), who organises stuff, loves going places, loves space and values brands that value them, rewarding loyalty.” </p> <p>“This,” Calverley continues, “is a massive shift, from talking about torque, spanners and oil, to talking about things like how to make Spotify work in the car.” </p> <p>The fundamental message that the brand wanted their audience to get was that ‘The AA shares my values’ (above and beyond anything about cover).</p> <p>So, whereas the AA used to talk about what typical customers didn’t like (breaking down), they now talk about going somewhere and making sure customers get there with all the fun inherent to you and your car. This change is eloquently shown in the AA’s new advertising campaign.</p> <p><iframe src="https://www.youtube.com/embed/LJmStf-3iOw?wmode=transparent" width="560" height="315"></iframe></p> <p>Calverley finished by summing up the five lessons the AA learned from political messaging. </p> <ol> <li>Focus on groups that matter to and can make a difference for you</li> <li>Think about your swing voters</li> <li>Understand what they care about and how you share their values</li> <li>Show them you can help them live the life they want to</li> <li>Talk to their heart not heir head </li> </ol> <p>In line with the AA’s strategic insight, the brand has recently launched a new piece of tech to help make sure everything goes well for the customer. Car genie keeps an eye on your car battery, the engine, the oil etc. and gives you information through an app, as well as letting the AA know so they can intervene if needed.</p> <p><iframe src="https://www.youtube.com/embed/FWbk2pGo0pE?wmode=transparent" width="560" height="315"></iframe></p> tag:www.econsultancy.com,2008:TrainingDate/3248 2017-09-20T12:32:16+01:00 2017-09-20T12:32:16+01:00 GDPR & Data-Driven Marketing <p>Not unsurprisingly data is at the heart of data-driven marketing; personal data that is.</p> <p>The engine providing all this personal data is Surveillance. Every ‘pip’ and ‘squeak’ of the human race is now fuel for the data-driven marketers. On-line, mobile, in-store, social; every interaction has the potential to provide meaningful, useable marketing insight.</p> <p>To succeed in delivering the results from your data-driven marketing strategies, you must be an expert program manager, multi-national legal guru and technical ‘know-it-all’! The pace of change is daunting, both technically and legally.</p> <p>The ‘Hero Objective’ of this course is to learn how to continue to drive results from data-driven marketing under the new GDPR and ePrivacy Regulation.</p> tag:www.econsultancy.com,2008:BlogPost/69415 2017-09-12T14:15:00+01:00 2017-09-12T14:15:00+01:00 Five things every company can learn from the Equifax data hack Patricio Robles <p>While companies have been aware of the data breach threat for years now, the unfolding Equifax incident is a stark reminder of just how high the stakes are today. </p> <p>Here are five lessons every company should heed from the Equifax breach.</p> <h3>1. Data is more valuable than ever, and there's more of it than ever</h3> <p>While most companies don't store data as sensitive as a credit bureau like Equifax, companies of all sizes are increasingly collecting more and more data. And for good reason: for the past several years, companies have been told that data is critical to their success in the 21st century.</p> <p>Take the digital advertising market, for example. To win, companies <a href="https://econsultancy.com/blog/66957-resolving-the-customer-identity-challenge-with-first-party-data/">have been upping their efforts to gather and use first-party data</a>.</p> <p>This isn't inherently a bad thing, of course, but as companies store more data, and more detailed data, about their customers and, in many cases, people who aren't even their customers, the risks associated with data breaches increase substantially and that <a href="https://www.econsultancy.com/blog/67668-data-can-be-toxic-here-s-how-companies-should-handle-it">data can be toxic</a>. Even if companies don't store the most sensitive information about their customers, such as Social Security numbers, as digital data proliferates, criminals are becoming more savvy about how data can be exploited and that means companies shouldn't underestimate how the data they store could be used, especially when it is combined with data from other sources.</p> <h3>2. Disclosure of data breaches needs to be made quickly</h3> <p>Equifax reportedly learned that its systems had been breached in late July, so one of the biggest criticisms of the company is that it took over a month to inform the public. While it's understandable that a company might need time to investigate a breach and determine its extent, at the same time, companies need to understand that the public is not going to respond kindly when breaches are not promptly disclosed, especially when the information stolen could be used against them.</p> <p>As a result, unless law enforcement demands otherwise, companies should err on the side of disclosing that they've been breached sooner rather than later.</p> <h3>3. The response cannot be botched</h3> <p>Following a data breach, companies have one chance to make things right to the greatest extent possible. Despite the fact that Equifax knew about a data breach for weeks, its public response to the breach has been roundly criticized.</p> <p>The <a href="https://www.equifaxsecurity2017.com">website</a> the company set up to provide information <a href="https://www.bloomberg.com/news/articles/2017-09-08/consumers-struggle-to-get-answers-from-equifax-after-massive-hack">was plagued with problems</a>, some of them downright embarrassing. The data breach checker that purports to let individuals know if their data was part of the breach <a href="http://www.zdnet.com/article/we-tested-equifax-data-breach-checker-it-is-basically-useless/">doesn't appear to work</a>, and an arbitration clause in a legal agreement for the free monitoring service Equifax is offering to affected consumers <a href="https://www.forbes.com/sites/dianahembree/2017/09/09/consumer-anger-over-equifaxs-ripoff-clause-in-offer-to-security-hack-victims-spurs-policy-change/">was the source of a firestorm that Equifax had to respond to</a>.</p> <p>Put simply, Equifax's response has basically been a textbook case study for <em>how not to respond to a massive data breach </em>and because of this, everything the company does from here forward is going to be met with an even more critical eye from the public and media.</p> <h3>4. The actions of company leadership are going to be scrutinized</h3> <p>Thanks in large part to social media, there's more scrutiny than ever over companies when something goes wrong. In the case of Equifax, it was quickly revealed that three members of Equifax's senior management team <a href="https://www.bloomberg.com/news/articles/2017-09-07/three-equifax-executives-sold-stock-before-revealing-cyber-hack">sold nearly $1.8m worth of shares</a> in the company in the days following the company's discovery of the data breach. </p> <p>According to an Equifax spokesperson, the trio "had no knowledge that an intrusion had occurred at the time," something that some members of the public and media have had a hard time believing, especially given that one of the executives who sold stock was the company's chief financial officer.</p> <p>But even if one accepts the company's claim, it's a reminder to companies that the public scrutiny they will face in the wake of a data breach extends to the actions of company management and therefore, part of the response strategy should take into account the importance of ensuring that the actions of company management following a data breach don't make a bad situation worse. </p> <h3>5. Data breaches are an existential threat</h3> <p>One of the big questions following the Equifax hack is whether or not Equifax will survive. While it might seem preposterous to question whether one of the three major credit bureaus in the US and a company with a market capitalization of over $17bn even after its stock has fallen by over 20% in recent days could go out of business following a data breach, all bets are off because there has arguably never been such a damaging data breach in the world's history.</p> <p>A lawsuit seeking up to $70bn in damages <a href="https://www.bloomberg.com/news/articles/2017-09-08/equifax-sued-over-massive-hack-in-multibillion-dollar-lawsuit">has already been filed</a> and government agencies <a href="https://www.recode.net/2017/9/8/16278030/congress-hearing-massive-equifax-data-breach-hack-security-privacy-data">are circling</a>. Given the nature of this breach and the number of Americans affected, it's hard to see Equifax emerging from this with little more than a financial and regulatory slap on the wrist. And even if Equifax has money left in the bank when all is said and done, it seems likely the company's name will be tarnished for years and possibly even decades to come.</p> <p>Obviously, most businesses don't store the same type and volume of data about consumers as Equifax, but it's not inconceivable that as companies rely more and more heavily on more and more detailed data, the cost of data breaches could increase to the point where businesses, especially small and mid-sized companies, routinely don't survive them.</p> tag:www.econsultancy.com,2008:BlogPost/69407 2017-09-08T11:35:52+01:00 2017-09-08T11:35:52+01:00 Programmatic in 2017: An interview with Getintent’s George Levin Seán Donnelly <p>This is especially important as programmatic continues to evolve beyond basic retargeting to include digital out-of-home, TV and audio. The pace of change certainly isn’t making things easy for marketers to understand, let alone optimise.</p> <h3>Outsourcing programmatic versus managing in-house</h3> <p>With the rapid pace of change, it’s no surprise that many brands are using agencies to manage their programmatic activities rather than hiring their own teams. Of course brands may have their own reasons for this but it’s no surprise that one of the main criticisms of this approach is that it can negatively impact upon creativity.</p> <p>To discuss this, I caught up with George Levin, the CEO and co-founder of Getintent, a machine learning-powered programmatic platform. George had some interesting things to say about the state of ad tech in general and why he thinks programmatic should be managed in house.</p> <p><img src="https://assets.econsultancy.com/images/resized/0008/8831/george_levin_v.1-blog-flyer.jpg" alt="George Levin, the CEO and co-founder of GetIntent, a machine learning-powered programmatic platform" width="202" height="202"></p> <p><em>George Levin, the CEO and co-founder of Getintent</em></p> <p>Historically, there has been some uncertainty about what bringing programmatic in-house really means. For some, it involves contracting professional services from technology vendors; for others it’s about hiring the right people and integrating the right technology and aligning programmatic with other marketing activities.</p> <p>According to George: “Brands can only be creative when programmatic is brought in house. If you run everything in house, you can have some great creative. After all, who knows the brand and the customer better than client-side marketers?”</p> <p>George points out that this becomes especially important when it comes to running programmatic for more top-of-the-funnel activities: “Prospecting activities need more involvement from the client-side marketers. More hypotheses can be tested to find the best and most efficient ways for prospecting using programmatic buying.”</p> <p>George points out that unlike basic retargeting, prospecting needs to be based on specific brand knowledge and customer research. Client-side marketers are in the best position to do this.   </p> <h3>Programmatic skills<em> </em> </h3> <p>Econsultancy has hosted a number of conferences about programmatic in recent years. A common refrain from brand side marketers has been that the budget required to manage programmatic in-house has been too great and also that it’s too difficult to assemble the skills required.</p> <p>That opinion no longer holds true according to George: “Brands can run successful programmatic campaigns with a team of just three people – a tech guy who understands the mechanics, an ad operations person and an analytics person. In fact, a smart kid spending two years in the area could run everything.”</p> <h3 style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">Ad technology is becoming commoditised<strong><br> </strong> </h3> <p>In terms of the ad tech, George explains that ad technology has become commoditised: “You don't need super smart tech guys to run your own tech stack. There are plenty of white-label DSPs, DMPs and optimization tools. </p> <p style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">"Everyone can afford a white-label DMP. This can be used to activate first-party data and high quality data from third parties. The DMP could then be connected to a white-label DSP. To integrate vendors and make your own stack without engineering help you just need a marketer with some tech background. Every marketing team should have a tech person.”</p> <p><img src="https://assets.econsultancy.com/images/resized/0008/8801/marketing_technology_landscape_2017_slide-blog-flyer.jpg" alt="" width="470" height="264"></p> <p><em>Source: <a href="http://chiefmartec.com/2017/05/marketing-techniology-landscape-supergraphic-2017/">Chief Marketing Technologist Blog</a> by Scott Brinker</em></p> <p>Levin even went so far as to say that clients of Getintent are willing to pay for full service programmatic management. That’s something that the company facilitates but he was very clear that he wants to focus on technology that he can sell to self service clients. The problem he says is that ad technology decision-makers are relying on agencies and vendors because they don’t understand how things work.</p> <p>And so despite everything that’s been written about the state of the programmatic ecosystem in terms of transparency, fraud and ambiguous metrics, it would appear that the elephant in the room (for some) may be an aversion to taking responsibility for managing programmatic in-house. It’s just easier to ask for full service.</p> <p>Whatever the issues with programmatic are, the budget being spent on it continues to grow. According to Zenithmedia [November 2016], programmatic trading accounts for 70% of the display advertising market in the US and the UK. The same research suggests that by 2018, the programmatic advertising market is expected to reach $64 billion. That’s a big chunk of change. </p> <h3><strong>Attribution</strong></h3> <p>Attribution isn't a new challenge. Despite the increasingly crucial role that attribution plays, <a href="https://econsultancy.com/reports/the-state-of-marketing-attribution" target="_blank">Econsultancy's State of Marketing Attribution report</a> found that less than a third of organisations carry out attribution across the majority of their campaigns. According to George, many marketers still use a last-click attribution model. </p> <p>Another is when marketers use an assisted post-click attribution model. This is when an order is attributed to all sources that generated a click within a post-click window. For example, marketers can attribute part of the value of a transaction to each of their traffic sources. In some cases, they might attribute greater value to the first or last click. In other cases, they might decide to attribute equal value to each source.</p> <p>The challenge is that some advertisers might end up assigning the same order to multiple sources, rather than weighting those sources to attribute a single order.</p> <p>This is one issue that George doesn't recommend trying to solve this problem in-house. He suggests that AI has a key role to play in handling this kind of problem: "There are a few some good vendors that can handle this problem who use AI to calculate the actual impact of each touchpoint and how it impacted the final transaction."</p> <p>In conclusion, the key points that George Levin wanted to get across are that programmatic can be used for upper funnel activies and that for it to work effectively, brands should examine how they can grow their own expertise to manage programmatic campaigns. The combination of brand knowledge, customer insight and the ability to customise programmatic campaigns will be key to success. </p> <h3>Getting on top of programmatic</h3> <p>Wherever you are in your programmatic journey, this year’s <a href="https://goo.gl/nJMlTI">Festival of Marketing</a> will play host to a stage dedicated to exploring the programmatic landscape. Attendees will learn how brands can keep abreast of new platforms for programmatic display, evolving technology to purchase and place adverts as well as the changing roles of agencies.</p> <p>Whether you want to explore programmatic trends or learn about managing programmatic strategically and tactically, we’ll have it covered. The <a href="https://goo.gl/nJMlTI">Festival of Marketing 2017</a> will take place on 4th and 5th October at Tobacco Dock on London.</p> <p><a href="http://www.festivalofmarketing.com/buy-a-ticket"><img src="https://assets.econsultancy.com/images/resized/0008/8802/festival_of_marketing_2017-blog-flyer.jpg" alt="Festival of Marketing 2017 Logo" width="470" height="118"></a></p> <p>As well as publishing <a href="https://econsultancy.com/reports/the-cmo-s-guide-to-programmatic/search/?only=BlogPost&amp;q=programmatic" target="_self">blogs on the subject</a>, Econsultancy also runs regular <a href="https://econsultancy.com/training/courses/programmatic/" target="_self">programmatic workshops</a> to help marketers cement their understanding of the programmatic landscape.</p> <p>If you already have an understanding of programmatic and want to look at some of the wider strategic use cases and challenges to be aware of, Econsultancy has published a number of reports on the subject:</p> <ul> <li><a href="https://econsultancy.com/reports/the-cmo-s-guide-to-programmatic/" target="_self">CMO’s Guide to Programmatic</a></li> <li><a href="https://econsultancy.com/reports/programmatic-branding/" target="_self">Programmatic Branding, Driving Upper Funnel Engagement</a></li> <li><a href="https://econsultancy.com/reports/programmatic-marketing-beyond-rtb/" target="_self">Programmatic Marketing: Beyond RTB</a></li> <li><a href="https://econsultancy.com/reports/the-role-of-dmps-in-the-era-of-data-driven-advertising/" target="_self">The Role of DMPs in the Era of Data-Driven Advertising</a></li> </ul> tag:www.econsultancy.com,2008:TrainingDate/3246 2017-09-08T11:02:07+01:00 2017-09-08T11:02:07+01:00 Mini Masters in Digital Marketing Online <p>If you want to accelerate your career to take a leadership role as a professional digital marketer then the Econsultancy Mini Masters in Digital Marketing is the course that will give you the practical and strategic skills to step up.</p> <p style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">Econsultancy’s Mini Masters is taught online with intensive, challenging, interactive modules taught by the very best in the business. Formalise your existing skills, and come away with the confidence that you really know your stuff – and how to prove it at the highest level. </p> <p style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"><strong>Book your place now! Next course dates are in April and October 2018.</strong></p> tag:www.econsultancy.com,2008:Report/4580 2017-09-04T16:44:00+01:00 2017-09-04T16:44:00+01:00 The Fundamentals of Marketing Measurement and Analytics <p>This best practice guide introduces marketers and ecommerce professionals to the <strong>fundamentals of campaign data measurement and analytics</strong>, covering everything from established principles to cutting edge technologies.</p> <p>For many organisations, particularly those with an ecommerce function, customer data is one of the greatest assets to hand, offering incredible insight into an audience's behaviours, wants and needs. How can marketers <strong>access those insights, and transform them into real business outcomes</strong>?</p> <p>This report looks at how digital marketers can capture the data that is available via their interactions with customers, explains how to sort the wheat from the chaff, runs through some of the most important strategies for <strong>extracting lessons from customer data</strong>, and makes suggestions for future proofing your data strategy as technology rapidly evolves.</p> <p>It features insights from <strong>data and analytics experts</strong>, including Tim Eves, who has more than 15 years of analytics experience working with blue chip brands, and Lucy Foster, who leads the Digital Measurement &amp; Performance Tracking programme at Unilever.</p> <p><strong>Acknowledgements</strong></p> <p>We would like to thank the following individuals for their quotes, input and insight contained within this guide.</p> <ul> <li>Tim Eves, Director, Lynchpin</li> <li>Lucy Foster, Global Business Head, Digital Measurement and Performance, Unilever</li> <li>Jamie Robinson, Global Research and Insight Director, We Are Social</li> <li>Kohlben Vodden, Founder, StoryScience</li> </ul> <p><strong>Download a copy of the report to learn more.</strong></p> tag:www.econsultancy.com,2008:BlogPost/69390 2017-09-04T12:30:00+01:00 2017-09-04T12:30:00+01:00 Brand marketing chief at EliteSingles on metrics, channel mix and the future of dating Ben Davis <h4> <em>Econsultancy:</em> What constraints are there on creativity when marketing EliteSingles?</h4> <p><strong>Bart Visser:</strong> EliteSingles is a premium dating product aimed at a slightly older, more affluent audience than most well-known casual dating apps. This clear positioning is the strength of the product and like all products out there, the creative expressions need to adhere to this positioning in order to build a strong and recognizable brand.</p> <p>To give an easy example: you wouldn’t see EliteSingles marketing material that promotes nudity and highly sexual topics. Our designers are constantly searching for new creatives that are usable both globally and locally to promote the brand in the appropriate way.</p> <p>The nature of the product also dictates which marketing channels we are able to leverage. A good example is direct mail marketing. The success of a direct mail campaign is largely dependent on the offer you have (usually a discount voucher), but being a premium product we do not promote such discounts through our user acquisition campaigns. Therefore, direct mail as a channel is not useable. This means the marketing teams need to find creative ways to drive growth through other channels.</p> <p><img src="https://assets.econsultancy.com/images/0008/8685/elite_singles.png" alt="elitesingles" width="615" height="333"></p> <h4> <em>E:</em> Is customer acquisition characterised by paid search? How does content and offline come into the mix?</h4> <p><em><strong>BV: </strong></em>The two main drivers behind our customer acquisition are affiliate marketing and TV advertising. <a href="https://econsultancy.com/training/courses/topics/content-marketing-and-strategy">Content marketing</a> as a channel shows great potential and we are looking to scale this channel further over the coming months. </p> <h4> <em><strong>E:</strong></em> What metrics do you look at when judging success? Is it all about new members or are matches important?</h4> <p><em><strong>BV:</strong></em> The number of new member signups is certainly an important metric as it signifies product liquidity – something that is essential for a product that aims to bring people together. If there aren't enough members in your area, you will quickly run out of matches, which would of course be disappointing with an online dating product. Our main aim is therefore to ensure we have a large pool of highly-educated singles looking for a relationship with a like-minded single.</p> <p>The engagement rate (essentially the number of messages sent) is another important metric we use to assess the quality of the pool and the resulting matches. We’re continuously coming up with creative new ways to boost these metrics, such as: offering free communication weekends, suggesting opening lines to break the ice and introducing open search as a new product feature. </p> <h4> <em>E:</em> With privacy so important, are there any channels you don't use to communicate with customers?</h4> <p><em><strong>BV:</strong></em> In terms of support, we are available for our customers 24/7 via email and/or phone. As more private communication channels, these lend themselves perfectly for support around personal matters. We’re not currently very active on social media, but when a customer is comfortable enough to reach out to us on a public channel, we always aim to respond as quickly as possible, taking personal information into consideration. </p> <h4> <em><strong>E:</strong></em> What does the future hold for the online dating experience, now that mobile is so well established, what's next?</h4> <p><em><strong>BV:</strong></em> We have seen an evident shift to mobile and I believe there is still plenty of opportunity for growth within the mobile experience. There is a constant flow of new dating products and features that aim to improve the user experience and help to spark conversation between two people.</p> <p>Video chat and hyperlocal location matching are cool features, but in the long run, I believe the key to success is in improving the quality of the profiles each user sees. The winners will be those who are able to learn from user preferences and act on them, all while offering a product packaged up in the most appealing way. It will be exciting to see how both new and established companies will solve this as the industry evolves.</p> <p><em>You can hear more from EliteSingles at <a href="https://goo.gl/nJMlTI">the Festival of Marketing in London on October 4/5</a>.</em></p> tag:www.econsultancy.com,2008:ConferenceEvent/896 2017-08-23T15:58:06+01:00 2017-08-23T15:58:06+01:00 Digital Therapy Live <p><strong>Digital Therapy Live</strong> is an event dedicated to providing a cure for your digital angst. It’s part of our <strong>Digital Therapy</strong> programme for 2017, a mixture of events and webcasts running throughout the year.</p> <p>We ran our first <strong>Digital Therapy Live </strong>in May and, as it was such a success, we have decided to run another event in November of 2017. </p> <p>November's<strong> Digital Therapy Live</strong> will explore topics of concern in the digital space, providing you with the opportunity to digitally destress and debunk digital mysteries, with our experts giving you sound advice on how to pursue your best digital future (without the angst).</p> <p>It’s designed to be a comfortable and confidential setting, so what’s said at <strong>Digital Therapy Live</strong>, stays at <strong>Digital Therapy Live</strong>. In this private forum, surrounded by your peers and our experts, you are free to rant, question, dispute, explore and immerse yourself in comprehensive digital discussion. </p> <p>This event is exclusive to Econsultancy users who are also senior client-side marketers.</p> <h4><strong>Roundtable topics</strong></h4> <p>At <strong>Digital Therapy Live</strong> you’ll have the opportunity to participate in two roundtable discussions, each focusing on different digital pain points. Upon being allocated a space, you’ll have the chance to choose which discussion tables you would like to take part in the most. Topics on the day will delve into areas including:</p> <ul> <li>The end of the generation of traditional content: AI is here</li> <li>Why you are not getting the most out of your data</li> <li>Overemphasis on customer acquisition rather than retention</li> <li>Corporate inability to attract/retain digital talent</li> <li>The issue of keeping up with marketing technology</li> <li>Mobile progress</li> <li>Personalisation</li> <li>Testing and optimization</li> <li>Agile adoption</li> <li>Organisational design for 'digital'</li> <li>GDPR: How to prepare for the data privacy revolution</li> </ul> <p>We hope to ease your anxiety and eliminate your digital woes throughout the event; our roundtable discussions aim to help you negotiate the many digital difficulties presented to the modern marketer. </p>