tag:econsultancy.com,2008:/topics/strategy-operations Latest Strategy & Operations content from Econsultancy 2018-03-14T11:30:00+00:00 tag:econsultancy.com,2008:BlogPost/69865 2018-03-14T11:30:00+00:00 2018-03-14T11:30:00+00:00 What is 'dark martech' and what challenges does it present? Nikki Gilliland <p>This is highlighted in Econsultancy’s latest <a href="https://econsultancy.com/reports/dark-martech/">Marketing in the Dark</a> report, in association with IBM Watson Marketing, which also delves into how companies are generally using martech as well as harnessing its power. Research comes from a survey of 1,026 senior marketing professionals in the summer of 2017.</p> <p>Subscribers can download the report in full, but in the meantime, here are a few key takeaways.</p> <h3>Dark martech on the rise</h3> <p>Back in 2011, Gartner predicted that the CIO would be spending more on marketing technology than the CMO in 2017. At this point, there were only around 150 martech solutions available.</p> <p>Now of course, this has dramatically increased, leading to a surge in the amount of homegrown solutions that organisations have developed in order to knit together different point solutions, or to perform specific functions.</p> <p>The two biggest challenges faced by organisations using dark martech are the efficacy of the platforms and the ability to integrate them with other systems.</p> <p>If marketers are not careful, they risk creating a chaotic and confusing set-up – which is then worsened by the fact that this software largely goes unnoticed by those who are not directly involved in its development and maintenance.</p> <h3>'Leaders' more likely to use single-provider solutions</h3> <p>Alongside integration, it appears that fragmented solutions can also result in less value.</p> <p>Companies identified as ‘leaders’– i.e. organisations where marketing teams outperformed against their top business goal over the last year – are two and a half times more likely than ‘mainstream’ companies to structure their marketing around an integrated marketing cloud from a single provider.</p> <p><img src="https://assets.econsultancy.com/images/0009/2854/leaders_in_martech.JPG" alt="" width="633" height="446"></p> <p>Similarly, companies with a single-vendor solution are five times more likely than those who have assembled their own marketing stacks to say their ability to get full value from the technology is ‘excellent’. </p> <p>Companies with a single-provider approach are also able to enjoy strong visibility on technology, with 88% saying that this is the case compared to only 57% of those who have a fragmented approach to martech.</p> <h3>Skills gap holding back martech</h3> <p>When it comes to getting full value out of martech, it appears that even the best platforms can fall flat without with the skills to effectively harness the technology and to customise it where needed. This is also a problem when it comes to investment, with a lack of skills cited as a main reason for a reluctance to invest by 45% of both B2B and B2C companies.</p> <p>Creativity and confidence of staff is also hampered by the skills gap, as 66% of responding companies believe they don’t have the skills or talent to make most use of marketing technology.</p> <p>Essentially, technology is only as good as the people who can configure it and utilise it effectively. It is therefore up to organisations to employ and train people with the creative skills to do so.</p> <p><img src="https://assets.econsultancy.com/images/0009/2855/Skills_gap.JPG" alt="" width="618" height="518"></p> <p><em><strong>Don't forget to download Econsultancy's Marketing in the Dark: Martech report, in association with IBM, in full.</strong></em></p> tag:econsultancy.com,2008:Report/4737 2018-03-12T11:50:00+00:00 2018-03-12T11:50:00+00:00 Marketing in the Dark: Dark Martech <p>The third report in our <em>Marketing in the Dark</em> series, <strong>Dark Martech</strong>, looks at the types of martech platform being used by companies, and how choice of setup impacts on the ability to get value from technology investment.</p> <p>The research, produced by Econsultancy in partnership with <a title="IBM Watson Marketing" href="https://www.ibm.com/customer-engagement/digital-marketing">IBM Watson Marketing</a>, is based on an extensive survey of more than 1,000 marketers.</p> <p><strong>'Dark martech'</strong> is a term coined by analyst firm TBR’s Seth Ulinski, to describe this increasingly prevalent software that has been created internally.</p> <p>While it was not meant to be a pejorative term, there are challenges for organisations that are building martech solutions from scratch, in terms of both the efficacy of the platforms and the ability to integrate with other systems. The danger for marketers is that they end up with a chaotic approach to martech that causes headaches for their organisations.</p> <p>The key findings of the report are as follows:</p> <ul> <li> <strong>Dark martech is a growing phenomenon. </strong>Organisations need to be aware of the challenges they face if they are relying on fragmented and piecemeal technology that is not part of an integrated marketing stack, irrespective of whether they are using homegrown or third-party point solutions.</li> <li> <strong>Companies with single-provider solutions are more likely to outperform. </strong>Companies we have identified as 'leaders'– organisations where marketing teams outperformed against their top business goal over the last year – are two-and-ahalf times more likely than 'mainstream' companies to structure their marketing mostly around an integrated marketing cloud from a single provider.</li> <li> <strong>Organisations need to consider total cost of ownership. </strong>The path to maximum profitability and efficiency lies in having the right martech solution for a business, not necessarily the cheapest one. Homegrown technology may save on licensing costs, but companies must consider the cost of internal resources and consultants tasked with maintaining and integrating these systems.</li> <li> <strong>Technology needs to be an enabler for customer data integration, not a barrier.  </strong>More than a third (39%) of predominantly single-vendor companies can 'thoroughly leverage' customer data for automation of tasks required for personalised experiences, compared to only 2% of those that have a more piecemeal approach to martech.</li> <li> <strong>Martech is about people… but a lack of staff with the right skills is a barrier to the success of marketing platforms. </strong>Two-thirds (64%) of companies believe they don’t have the skills or talent to make most use of marketing technology. The greatest martech challenge for companies is the lack of skills/people to utilise it properly, cited as a top-three barrier by 45% of both B2B and B2C respondents.</li> </ul> tag:econsultancy.com,2008:BlogPost/69863 2018-03-09T14:09:00+00:00 2018-03-09T14:09:00+00:00 Why protecting your competitive price position is critical to profitable growth Min-Jee Hwang <h3>Why analyze by category?</h3> <p>Your strategy for different categories across your business won't necessarily be the same. For example, perhaps you are well known for having the best deals on computers and want to implement lower prices to be more competitive on your most popular category. </p> <p>At the same time, you can make back margins on other categories. Because of this, it's important to track where you stand not just at the SKU level and ensure that you're positioned strategically in the market. This also helps ensure that consumers are perceiving your brand the way you want them to.</p> <h3>Making price position data actionable</h3> <h4>1. Understand and respond to market changes</h4> <p>Competitors can change their pricing at any time, altering where you stand relative to them. Tracking competitor pricing allows you to respond quickly to maintain your price position. </p> <p>You can also track how the market responds to your own price changes to help optimize your own strategy. You'll likely notice that certain competitors consistently change their prices around your own and are actively trying to undercut you. </p> <p>Those are the ones you'll want to keep a closer eye on, although you should take into account whether that competitor's price changes are actually affecting your sales.</p> <p>For example, you may have a relatively unknown retailer with more competitive pricing than yours, but consumers may not trust them and prefer to buy from you. In that case, you have pricing power over them and no immediate action is necessarily required.</p> <h4>2. Validate your pricing strategy</h4> <p>Let's say that on average, you're priced higher than your top competitor in a category you want to be more competitive on. You can adjust your strategy to close the gap, but it's critical to track where you stand over time to ensure you are maintaining your optimal position in the market.</p> <p>Take it one step further by correlating your price position to changes in demand or sales in order to verify that the performance aligns with your growth strategy.</p> <h4>3. Identify new assortment and cross-sell opportunities</h4> <p>Analyze trends over time to determine what areas you've been able to maintain a strong position in consistently. Are there adjacent categories that you might be able to grow? </p> <p>For example, if you maintain a strong position in cell phones, you may be able to generate string cross-sell traffic for smartwatches too. You may also want to stock heavier in categories where you have a strong price position, as well as complementary categories.</p> <h4>4. Determine where you have pricing power</h4> <p>Couple price position data with sales data. If your most expensive products are earning you the most money, chances are you may have the ability to increase prices and maximize margins, without sacrificing sales. </p> <p>Consider running some price tests to determine how incremental price increases will affect demand (essentially measuring your price elasticity). Proceed with caution, however; even though you may command a premium, you'll want to make sure there aren't any drastic increases in prices that may upset consumers.</p> <h4>5. Increase return on advertising spend (RoAS)</h4> <p>Once you've identified the areas where you hold the strongest price positions, share your findings with your marketing team. As you align with them on where your business is strongest, they can allocate more time and budget to drive even more traffic to those areas and gain better return on marketing spend. This will create a positive feedback loop where your market position will be strengthened further by the demand they generate.</p> <h3>Closing thoughts</h3> <p>The ecommerce landscape is more competitive than ever. Pricing is changing constantly and understanding where you stand in the market at all times is critical to shaping your strategy and tactics. </p> <p>There are many ways to slice and dice competitive pricing data, but evaluating where you are positioned at the aggregate category level to identify trends is a great place to start. </p> <p>From there, it's easy to drill down and look at sub-categories or SKUs to optimize your strategy at a more granular level. By taking this approach, you can ensure profitable growth by capitalizing on where you have pricing power, while staying price competitive in other areas.</p> <p><em><strong>More on pricing:</strong></em></p> <ul> <li><a href="https://econsultancy.com/blog/69370-how-to-compete-on-price-without-sacrificing-margins">How to compete on price without sacrificing margins</a></li> </ul> tag:econsultancy.com,2008:BlogPost/69654 2018-03-05T10:33:34+00:00 2018-03-05T10:33:34+00:00 A day in the life of... COO at a delivery scale-up Ben Davis <p>(Before we get down to it, remember if you're looking for a new role yourself to check out 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?</h4> <p><em><strong>Dave Saenz:</strong></em> I’m Chief Operations Officer at <a href="https://stuart.com">Stuart</a>, a delivery scale-up, which works with retailers to help them offer their customers on-demand and same day delivery options. It’s a great role in that it touches all aspects of the organisation. Loosely speaking my role splits into two parts: Day-to-day and Strategic. </p> <p>Day-to-day, I have P&amp;L responsibility for the three markets, (UK, France, Spain), which means ensuring that we're hitting our growth targets on the commercial side, while optimising our efficiency and costs on the operational side. In that capacity, I work with our country managers on execution of sales, marketing, account management and operational functions. </p> <p>On the strategic side, along with our CEO, I prepare our annual budget and forecast. I work with the CTO and CPO on the product roadmap, and decide expansion strategy, resource allocation, key partnerships and so on. </p> <h4> <em>E:</em> What kind of skills do you need to be effective in your role?</h4> <p><em><strong>DS:</strong></em> One of the nice parts about touching each aspect of the business is keeping a broad range of skills sharp. </p> <p>Management skills are a must, ensuring that we're getting the most out of our team and resources every day. Strategic thinking is also essential as we need to keep the entire engine moving forward, while ensuring that we seize on new opportunities that come along. I spend a lot of time with clients which requires people and communication skills. </p> <p>Lastly, all of our decision making is data driven so facility with data, modelling and analytics is key.</p> <p><img src="https://assets.econsultancy.com/images/0009/2630/DAVID_SAENZ_copy.jpg" alt="dave saenz" width="557" height="400"></p> <h4> <em>E:</em> Tell us about a typical working day... </h4> <p><em><strong>DS:</strong></em> This can really vary! Most days I'm in touch with our teams in all three markets, as well as key clients, our CEO, product and tech. I try to limit the number of meetings and carve out time to actually push projects forward. Whether that is signing a big deal, diving into operational data or aligning the product roadmap with commercial and operational goals. </p> <h4> <em>E:</em> What do you love about your job? What sucks?</h4> <p><strong><em>DS:</em></strong> I love the diversity in the role. I can really dig in and develop expertise in all aspects of the business, which is what drew me to Stuart in the first place. As for what sucks....let's go with legal!</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>DS:</strong></em> Our core goals are around growth, profitability, scalability and team happiness. Key metrics include total deliveries, delivery efficiency indicators like occupation rate and rides/hour, employee feedback reports, and so on.</p> <h4> <em>E:</em> What are your favourite tools to help you to get the job done?</h4> <p><em><strong>DS:</strong></em> The basics - I'm not a believer in fancy tools for fanciness's sake. With Excel and Powerpoint I can do all of the analysis and comms I need.</p> <h4> <em>E:</em> How did you get into delivery/fulfillment, and where might you go from here? </h4> <p><em><strong>DS:</strong></em> I had never worked in this space before Stuart but was instantly attracted to the complexity and challenges in the business as well as the revolutionary nature of Stuart's operational model and tech. As for where next, onwards and upwards, taking Stuart to new heights!</p> <h4> <em>E:</em> Which ecommerce websites do you admire?</h4> <p><em><strong>DS:</strong></em> Nike has a gorgeous website. I love what Argos does. Sainsbury's has been really innovative with its Chop Chop app.</p> tag:econsultancy.com,2008:TrainingDate/3428 2018-03-02T10:25:04+00:00 2018-03-02T10:25:04+00:00 MarTech - Getting to grips with Marketing Technology <p>Amazing opportunities are presented by the latest generation of MarTech (Marketing technology) – but the landscape can be very confusing!</p> <p>During our 1-day course, you’ll learn about Martech in a way that will allow you to have better and more confident discussions with vendors and IT colleagues. </p> <p>You won’t become a technical expert overnight – but you’ll know far more about how these technologies could benefit your marketing efforts.</p> tag:econsultancy.com,2008:Report/4731 2018-02-28T14:00:00+00:00 2018-02-28T14:00:00+00:00 A Marketer's Guide to the General Data Protection Regulation (GDPR) <p>The aim of this report is to help demystify the GDPR for marketers, disseminate the findings from Econsultancy’s ‘Marketers and the GDPR: Are you Ready?’ survey and provide a clear action plan for how marketing teams can become GDPR compliant. </p> <p>It is critical that marketers understand how the GDPR affects them directly, along with navigating key risks, benefits and changes to workflow. Many of the GDPR’s main principles are similar to those in the current Data Protection Act (DPA) that is based on an EU directive, so if you are complying properly with the current law then most of your approach to compliance will remain valid under the GDPR and can be a useful starting point to build from. However, there are a number of new concepts and developments that you will have to consider for the first time.</p> <p>The report sets out to:</p> <ul> <li>Highlight research findings from Econsultancy’s ‘Marketers and the GDPR: Are you Ready?’ survey</li> <li>Present the views and insights about the GDPR from a range of Data Protection Officers, consultants, trainers, trade bodies and policy and compliance experts</li> <li>Offer actionable insights and guidance to ensure your marketing practices comply with the new rules set out by the regulation and to prepare you on your journey to compliance </li> <li>Answer common questions and clarify misconceptions about the GDPR</li> </ul> <p>The report is based on a survey of over 1,000 client-side and agency-side respondents in the UK.</p> <p>In addition to the survey, a mixture of face-to-face and telephone interviews were conducted with a number of people. Econsultancy would like to thank the following people in particular for their contributions to this report:</p> <ul> <li> <strong>Catherine Armitage</strong>, Senior Manager Public Affairs, Digital Governance Exchange at World Federation of Advertisers (WFA)</li> <li> <strong>Duncan Smith</strong>, Econsultancy trainer and Director of iCompli Limited</li> <li> <strong>Hellen Beveridge</strong>, Privacy Lead at Data Oversight</li> <li> <strong>Micky Khanna</strong>, Founder of Prosults Ltd and GDPRPLAN.com</li> <li> <strong>Richard Merrygold</strong>, Director of Group Data Protection, HomeServe</li> <li> <strong>Ruben Schreurs</strong>, Managing Partner at Digital Decisions</li> <li> <strong>Tim Roe</strong>, Deliverability and Compliance Director, RedEye International Ltd</li> <li> <strong>Yves Schwartzbart</strong>, Head of Policy and Ad Tech, IAB UK</li> <li>Anonymous Data Protection Officer at an insurance company</li> </ul> tag:econsultancy.com,2008:Report/3008 2018-02-26T15:33:00+00:00 2018-02-26T15:33:00+00:00 Internet Statistics Compendium Econsultancy <p>Econsultancy’s <strong>Internet Statistics Compendium</strong> is a collection of the most recent statistics and market data publicly available on online marketing, ecommerce, the internet and related digital media. </p> <p><strong>The compendium is available as 11 main reports across the following topics:</strong></p> <ul> <li><strong><a href="http://econsultancy.com/reports/advertising-media-statistics">Advertising</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/content-statistics">Content</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/customer-experience-statistics">Customer Experience</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/web-analytics-statistics">Data and Analytics</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/demographics-technology-adoption">Demographics and Technology Adoption</a></strong></li> <li><strong><a href="http://econsultancy.com/uk/reports/ecommerce-statistics">Ecommerce</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/email-ecrm-statistics">Email and eCRM</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/mobile-statistics">Mobile</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/search-marketing-statistics">Search</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/social-media-statistics">Social</a></strong></li> <li><strong><a href="http://econsultancy.com/reports/strategy-and-operations-statistics">Strategy and Operations</a></strong></li> </ul> <p>Updated monthly, each document is a comprehensive compilation of internet statistics and digital market research with data, facts, charts and figures. The reports have been collated from information available to the public, which we have aggregated together in one place to help you quickly find the internet statistics you need - a huge time-saver for presentations and reports.</p> <p>There are all sorts of internet statistics which you can slot into your next presentation, report or client pitch.</p> <p><strong>Sector-specific data and reports are also available:</strong></p> <ul> <li><strong><a title="B2B Internet Statistics Compendium" href="http://econsultancy.com/reports/b2b-internet-statistics-compendium">B2B</a><br></strong></li> <li><strong><strong><a title="Financial Services and Insurance Internet Statistics Compendium" href="https://econsultancy.com/reports/financial-services-and-insurance-internet-statistics-compendium/">Financial Services and Insurance</a></strong></strong></li> <li> <strong><a title="Healthcare and Pharmaceuticals Internet Statistics Compendium" href="https://econsultancy.com/reports/healthcare-and-pharmaceuticals-internet-statistics-compendium/">Healthcare and Pharmaceuticals</a></strong><strong> </strong> </li> <li><strong><a title="Retail Statistics Compendium" href="https://econsultancy.com/reports/retail-statistics-compendium/" target="_self">Retail</a></strong></li> <li><strong><a title="Travel Statistics Compendium" href="https://econsultancy.com/reports/travel-statistics-compendium/" target="_self">Travel</a></strong></li> </ul> <p><strong>Regions covered in each document (where data is available) are:</strong></p> <ul> <li><strong>Global</strong></li> <li><strong>UK</strong></li> <li><strong>North America</strong></li> <li><strong>Asia</strong></li> <li><strong>Australia and New Zealand</strong></li> <li><strong>Europe</strong></li> <li><strong>Latin America</strong></li> <li><strong>MENA</strong></li> </ul> <p>A sample of the Internet Statistics Compendium is available for free, with various statistics included and a full table of contents, to show you what you're missing.</p> tag:econsultancy.com,2008:Report/4727 2018-02-26T11:15:00+00:00 2018-02-26T11:15:00+00:00 Marketing in the Dark: Dark Social <p>There is a growing body of evidence to show that consumers are increasingly sharing content privately, for example through messaging apps such as WhatsApp and Messenger, rather than on publicly accessible social networks where brands can more easily listen to, and track, what is being said about them, and what is being shared.</p> <p>The second report in our <em>Marketing in the Dark</em> series, <strong>Dark Social</strong>, explores the impact of this growing phenomenon, and looks at how companies can interact with consumers appropriately and effectively in a world where consumers increasingly like to communicate in private.</p> <p>The research, produced by Econsultancy in partnership with <a title="IBM Watson Marketing" href="https://www.ibm.com/customer-engagement/digital-marketing">IBM Watson Marketing</a>, is based on an extensive survey of more than 1,000 marketers.</p> <p>The key findings of the report are as follows:</p> <ul> <li> <strong>Marketers are underestimating the impact of dark social.  </strong>Only 4% of all those surveyed for this study regard dark social as a top-three challenge, suggesting that most businesses are blissfully ignorant of a growing problem.</li> <li> <strong>More brands must start harnessing technology to mitigate the challenge of dark </strong><strong>social, and to scale their customer interactions. </strong>Even among leaders, defined as companies where marketing teams outperformed against their top business goal over the last year, it is only a small proportion of companies that are using software such as voice technology / interfaces (25%), computer-powered chat on site (23%), computer-powered chat on social media channels and messaging apps (21%) and product recommendations powered by chatbots / AI-powered chat (19%).</li> <li> <strong>Outperforming companies are more likely to be using WhatsApp and similar apps for </strong><strong>AI-powered conversations. </strong>Leaders are significantly more likely than their mainstream counterparts to be using social networks and messaging apps for computer-powered conversations. Outperforming companies are around twice as likely as mainstream organisations to be using the WhatsApp messaging platform (39% versus 20%) to engage in dialogue with consumers.</li> <li> <strong>Companies must continue to prioritise personalisation. </strong>Three-quarters (75%) of ‘leaders’ are personalising conversations based on tone and sentiment, compared to 60% of mainstream companies. While it is important to tailor marketing and messaging to individuals, companies must take the utmost care in how they approach one-to-one marketing. At a time when consumers are becoming more distrustful of brands that routinely collect data about them, marketers should focus on a persona-based approach that allows them to be highly relevant without needing to utilise data that personally identifies people.</li> </ul> tag:econsultancy.com,2008:BlogPost/69755 2018-02-26T09:30:00+00:00 2018-02-26T09:30:00+00:00 A day in the life of... Head of Growth at a food delivery startup Ben Davis <p> (Before we get down to it, remember if you're looking for a new role yourself to check out 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?</h4> <p><em><strong>Milena Court:</strong></em> I am Head of Growth at <a href="https://www.citypantry.com/">City Pantry</a>, a tech startup in B2B food delivery. I focus on improving our understanding of customers and experimenting in the conversion funnel. At the moment I am mainly looking at the acquisition and activation stages in the funnel and I use my blend of skills in marketing, data and product to find clever ways to boost the company's growth.</p> <h4> <em>E:</em> Whereabouts do you sit within the organisation? Who do you report to?</h4> <p><em><strong>MC:</strong></em> I sit in the Commercial Team and I report directly to the Chief Commercial Officer. Every day I interact with lots of different teams: sales, business intelligence, UX etc. which is what I love the most about Growth. Every day you get new insights from very different sources and you need to be a bit of a chameleon to use all of them effectively to feed into your growth strategy.</p> <h4> <em>E:</em> What kind of skills do you need to be effective in your role?</h4> <p><strong><em>MC:</em></strong> You need to be highly data-driven: behind every successful <a href="https://econsultancy.com/blog/67935-a-no-bullshit-framework-for-growth-hacking/">growth hack</a> there is lots of data analysis to identify problems and to assess if the solutions you implemented are working or not!</p> <p>You also need to be curious about everything: as a Head of Growth you should be a jack of all trades. I often spend days where I code a landing page in the morning, analyse the success of a new campaign in the afternoon and think about new messages to test for each audience in the evening. </p> <p><img src="https://assets.econsultancy.com/images/0009/2482/profilesmall.jpg" alt="milena court" width="300"></p> <h4> <em>E:</em> Tell us about a typical working day…</h4> <p><em><strong>MC:</strong></em> There is not really a typical day and that's the best thing about this job. My day is usually a mix between digging into the data to define problems, implementing solutions and assessing their success and it can BEon one big project at a time or several running at the same time. You need to be quick to adapt and be willing to be surprised every day.</p> <h4> <em>E:</em> What do you love about your job? What sucks?</h4> <p><em><strong>MC:</strong></em> I have always been a problem-solver, there is nothing that excites me more than identifying something that is not right and trying to fix it. The flip side of this is that you may have to run several failed experiments before getting one right that will make a big difference. Growth hacking is a really big topic in the media nowadays, but you only ever hear about the successful growth hacks, not about the tens of different failed experiments before that which led to this success. Growth hackers are often seen as magicians which is not the case at all :). </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>MC:</strong></em> It really depends on the step in the funnel you are working on! If you work on acquisition, you will be mainly looking at the traffic coming to your website, the conversion rate to customer and the performance of each of your marketing channelS and identifying bottlenecks along the way.</p> <p>If you work on retention, you will have completely different metrics: improving the retention rate of your cohorts over time, understanding the lifetime value of your customers and how to improve it etc.</p> <h4> <em>E:</em> What are your favourite tools to help you to get the job done?</h4> <p><em><strong>MC:</strong></em> A good data visualisation tool is your best friend, I have worked a lot with Tableau and it's one of my favourite tools. Google Analytics is a life-saver as well, you can dig into everything that your customers do on your website. One more personal favourite: Unbounce, a tool to create landing pages and A/B test them very quickly without much tech knowledge.</p> <h4> <em>E:</em> How did you get into growth hacking, and where might you go from here?</h4> <p><em><strong>MC:</strong></em> After a Masters in Marketing and a few internships in Marketing, I got my first role in tech at BlaBlaCar, one of the biggest European startups. I started there in Marketing as expected but quickly realised that what I really liked the most was digging into data to uncover problems customers were experiencing.</p> <p>I started learning more about growth and had the opportunity to move internally to the Growth and Strategy team. Since then, I had the chance to work on some very exciting projects to help the company grow and I moved to City Pantry in November to start a growth unit. From there, next step is to continue improving my skills as a Head of Growth and to build a solid team to help me solve those great challenges! </p> <h4> <em>E:</em> What is your favourite growth hacking case study?</h4> <p><em><strong>MC:</strong></em> Probably the most famous one of all: Airbnb building a bot cross posting the first few listings on the platform to Craigslist to generate demand. Most people just see it as a "great idea", but the tech implementation behind it to get it right was very complex. This is where you can identify good growth hacks: the initial problem is well assessed and the solution relies on a combination of tech know-how and creative ideas.</p> <h4> <em>E:</em> Do you have any advice for people who want to work in this area?</h4> <p><em><strong>MC:</strong></em> If you have never worked with data before, start following some free online courses like the SQL class on Codeacademy and the Google Analytics class from Google to give you strong bases to analyse data and extract insights.</p> <p>Start reading about growth ideas (the forum of GrowthHackers.com is a good place to start). Get to know people in your company working in marketing, product or data and ask them about potential pain points in the customer journey that they are aware of and think about potential solutions and the impact they could have.</p> <p>And the most important of all, go talk to customers to understand their problems.</p> tag:econsultancy.com,2008:BlogPost/69800 2018-02-16T09:03:18+00:00 2018-02-16T09:03:18+00:00 Five brands using employee advocacy to drive talent acquisition Andrew Seel <p>Charu Malhotra, an expert in Employer Branding who has worked for Primark, BP and Unilever believes HR is becoming more like Marketing. <a href="http://www.qubi.st/blog/why-employee-ambassadors-are-key-to-success-in-employer-branding">She says</a>: “The candidate experience has changed and people think ‘I’m no longer going to respond to an ad that feels like it’s for everyone’. We’re moving to more of a consumer marketing model - with personalisation and segmentation – and people are saying ‘engage me, don’t bore me’."</p> <p>She continues, "Having employees create content and talk about the company they work for is a natural trend that feels right. People don’t trust CEOs or governments in the way they once did but they think ‘I’m going to trust my friend’, as long as it is written in the person’s voice and sounds authentic.”</p> <p>Companies with a one-size-fits-all recruitment marketing approach are increasingly perceived to be tone deaf. And it matters because the cost of replacing one employee stands at £30,614 according to a <a href="http://www.unum.co.uk/media/unum-launches-blueprint-for-a-caring-company">report</a> by Oxford Economics and Unum.</p> <p>For potential candidates, existing employees advocating for a business are gold. Employees have a high degree of trust in their individual networks and are able to talk with integrity and authenticity about their brand, products and services. As Malhotra adds: “Asking employees to be involved in creating content can be scary because we’ve been in a command and control culture for years. But those brands who do employer branding well know that it comes down to harnessing employee generated content, and that your employees will harness 10x more engagement.”</p> <p>Here are five brands using employee advocacy to attract the best talent and drive down recruitment costs: </p> <h3>1. Mastercard's puts trust in employee ambassador programme</h3> <p>Raja Rajamannar, Chief Marketing &amp; Communications Officer and President, Healthcare Business, Mastercard, <a href="https://www.linkedin.com/feed/update/urn:li:activity:6354842382130774016">said in December</a>: "As we look at our priorities for 2018, let’s commit to putting talent development at the top. There’s much we can do to help develop the ‘super human’ marketers needed to succeed in today’s tech savvy world…”</p> <p>Part of its talent development has been creating an ambassador programme for 400 of its staff that allows employee advocates to share content across social media. </p> <p><a href="https://www.slideshare.net/Altimeter/social-employee-advocacy-tapping-into-the-power-of-an-engaged-social-workforce">According to Altimeter Group</a> 21% of consumers said they "liked" employee posts about companies, an engagement rate that far surpasses most social advertising campaigns at a much lesser cost.</p> <p>The ambassador programme allows empowered employees to share a diversity of content, distribute different perspectives from different internal businesses and be a better employer by communicating clearly with its colleagues day to day.</p> <h3>2. Sky's employee networks secure diverse talent </h3> <p>Where many companies recognise the need to include diversity and inclusion in the candidate experience, Sky has been lauded for going further than most. The candidate experience has changed and potential employees want to read authentic reviews, and expect to be able to research a company to find out what the employee experience is like from people who actually work at the company, or did work there.</p> <p>Sky has an active #lifeatsky hashtag on social, which celebrates a range of experiences at Sky, and the company encourages employees to share content. It’s used by some of its most recognisable presenters such as Kay Burley.</p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Top team larks <a href="https://twitter.com/SkyNews?ref_src=twsrc%5Etfw">@SkyNews</a> after work quiz. Guess who the quiz mistress is... <a href="https://twitter.com/hashtag/LifeatSky?src=hash&amp;ref_src=twsrc%5Etfw">#LifeatSky</a> <a href="https://twitter.com/KayBurley?ref_src=twsrc%5Etfw">@KayBurley</a> <a href="https://t.co/68RPjF9M1f">pic.twitter.com/68RPjF9M1f</a></p> — Emily Deeker (@EmilyDeekerSky) <a href="https://twitter.com/EmilyDeekerSky/status/890646043657990144?ref_src=twsrc%5Etfw">27 July 2017</a> </blockquote> <p>Sky’s employee network includes parents, LGBT and women, and their work led them to The Inclusive Top 50 UK Employers in December.</p> <p>A range of recognition schemes is run for employees who live and breathe its values, and there is also a graduate and apprenticeship scheme on offer. It will be interesting to see Sky’s plans for 2018 following the new hire of Debbie Klein to the newly-created role of group chief marketing and corporate affairs officer.</p> <h3>3. ASOS rebrands HR as 'People Experience'</h3> <p>ASOS has been a frontrunner - and rightly celebrated - for its work in advocacy, something that helped propel it past Marks &amp; Spencer’s market valuation in 2017. However, it has also been recognised on the Top Companies list for the UK compiled by LinkedIn for “those that have figured out how to attract top talent and then keep them”.</p> <p>A new flexible working scheme and improved Net Promoter Score (up from 63 to 66) compliment an intern scheme that has garnered praise and newly transformed HQ offering health and workout facilities, a library and technology bar.</p> <p>The first ASOS Festival of Learning was held last year to drive engagement with around 1,200 attendees taking part in 55 development workshops and masterclases.</p> <p><iframe src="https://www.youtube.com/embed/qgmSpIoNDo0?wmode=transparent" width="560" height="315"></iframe></p> <p>From a CSR point of view, the <a href="http://www.asosfoundation.org/">ASOS Foundation</a> helps employees who want to get involved in charitable initiatives such as the recent ‘Walk for water Challenge’ to raise money for Project Pipeline, a water infrastructure in Kenya.</p> <p>ASOS People Experience Director, Peter Collyer, told the CIPD: “Our focus is always on the customer experience – everything we do is about that. And my agenda is to do the same for our people, which is why I rebranded HR as the ‘people experience’ (or ‘PX’) team last year. We all know that happy people mean happy customers; it’s not rocket science, but I think we’re doing a lot more work on this than a lot of companies.”</p> <p>In turn, the online retailer benefits from happy employees advocating on their behalf about what it’s like to work at ASOS, making talent acquisition more effective.</p> <h3>4. Admiral invests in learning and development</h3> <p>Admiral is 25 years old this year and its roster of accolades runs to more than 100 awards for being a good employer, including Sunday Times 30 Best Big Companies to work for 2017 and World's Best Work Places 2017. The average length of service for its staff is six years with 12 members having been with them for over 25 years.</p> <p>Keeping employees engaged and informed is at the heart of the dedicated training and development programmes that has helped Admiral to hire the best talent and deliver a high retention rate – it now has more than 8,000 staff across the world and is one of Wales’ largest employers. </p> <p>The Admiral Academy is made of 25 staff who are able to support their colleagues in personal development. The Academy is also an approved Institute of Leadership and Management Centre, and staff also have the opportunity to work towards an in-house post-graduate qualification, accredited by the University of South Wales.</p> <p>More than 5,800 employees went on courses of their choice in 2016 and self-learning is encouraged. </p> <h3>5. River Island promotes employee led career development </h3> <p>River Island turns 30 this year but shows no signs of slowing down as a family business. Its family ethos carries through to its outlook as a brand, with an HR video shared over Christmas highlighting its 'people are at the heart of our business'. This is no lip service when they are consistently winning multiple awards for being a best employer and being the best HR team.</p> <p>The River Island Virtual Academy (RIVA) keeps employees engaged with an innovative portfolio of relevant videos, workshops, podcasts and downloadable books, available 24/7 in any role, to increase knowledge. It describes personal development as a culture of ‘employee-led career development’ and employees themselves describe the company’s ideals and history.</p> <p>Its tech team has grown by around 220 people in seven years. Part of this shift has been empowering employees with android-based devices in store, so they can feel more confident: checking stock, placing orders and completing purchases for customers. Other benefits include generous staff discounts and ‘Summer Fridays’ when head office employees are able to leave the office at 3.30pm each Friday.</p> <p>The brand has also recently launched a diversity advertising campaign, focused on celebrating the individual for Spring 2018.</p> <p><em><strong>Related reading for Econsultancy subscribers:</strong></em></p> <ul> <li><a href="https://www.econsultancy.com/reports/how-marketers-learn">How Marketers Learn</a></li> <li><a href="https://econsultancy.com/reports/the-future-of-hr-in-the-digital-age">The Future of HR in the Digital Age</a></li> </ul>