successful marketing requires even better measurement and analytics
Post on 17-Oct-2014
1.014 views
DESCRIPTION
Forrester's Tina Moffett explorers the adoption of advanced analytics, measurement and attribution across marketing channels. She will share current practices and trends to better understanding how brands can use and apply measurement and analytics in their organization to optimize both cross-channel marketing campaigns and customer programs.TRANSCRIPT
![Page 1: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/1.jpg)
Making Leaders Successful Every Day
![Page 2: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/2.jpg)
Successful Marketing Requires Even Better Measurement and AnalyticsTina Moffett, AnalystMay 2, 2014
![Page 3: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/3.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 3
![Page 4: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/4.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 4
1. I’m not a “player”FA
IL2. I’m not 39
Data = Intelligence/
![Page 5: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/5.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 5
Agenda
›Consumer trends
›Measurement and analytics adoption and trends
›Empowering analytics
![Page 6: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/6.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 6
Consumer Trends
![Page 7: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/7.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 7
We are in the age of the customer…
Transform the customer
experience
Embrace the mobile mind shift
Become a digital disruptor
Age of the Customer
Turn big data into business
insights
![Page 8: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/8.jpg)
...and as result brands have massive footprints of customer data
March 2013 “The Future Of Customer Data Management”
![Page 9: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/9.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 9
9
Color story TK
![Page 10: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/10.jpg)
Too many questions, but the wrong data
to answer them
Too much data, but unable to answer the
right questions
![Page 11: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/11.jpg)
The spotlight is on measurement and analytics
![Page 12: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/12.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 12
Adoption and Trends in Analytics and Measurement
![Page 13: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/13.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 13
Big Data still presents a tremendous opportunity for marketers to leverage
![Page 14: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/14.jpg)
Marketing’s Big Data applications are known by other names› Customer facing
• Dialogue-based campaigns/real-time presentation
• Interaction/offer management
• Online testing and targeting
• Predictive call routing
• Retargeting
› Data and Analysis
• Data capture and analysis
• BI/Reporting
• Web Analytics
• Attribution/Marketing Mix
• Real-time Scoring
• Social CRM
• Market Insights
• Competitive Intelligence
![Page 15: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/15.jpg)
Please rank your top three drivers that encourage your organization to make use of measurement and
analytics
44% use analytics to improve customer acquisition and
targeting
22% use analytics to improve customer retention
7% use analytics to improve marketing accountability
![Page 16: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/16.jpg)
© 2012 Forrester Research, Inc. Reproduction Prohibited
Predictive analytics is not new, but it has recently peaked the interest of marketers
![Page 17: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/17.jpg)
Expectations from analytics technology are high
“Please select the answer that best describes the impact you expect the technologies in the categories below to have on your firm”
Source: November 2013 “Top Technology Trends To Watch: 2014 To 2016”
Rank 2012 (N=216) 2013 (N=118)
1 Mobile applications Mobile applications
2 Mobile platforms (Android, iOs, Blackberry) Big data platforms for real-time analytics
3 Big data platforms for real-time analytics Cloud-based or as-a-service applications
4 Cloud-based or as-a-service applications Customer intelligence and analytics platforms
5 Infrastructure-as-a-service Mobile platforms (Android, iOs, Blackberry)
6 Business event processing and rules Infrastructure-as-a-service
7 Big data platforms for batch analytics Big data platforms for batch analytics
8 Customer intelligence and analytics platforms Sensor systems and smart computing
9 Collaboration and social platforms Business intelligence (reporting, visualization and analytics
10 Sensor systems and smart computing Collaboration and social platforms
11 Business intelligence (reporting, visualization and analytics Business event processing and rules
Base: enterprise architect professionals, Global State Of Enterprise Architecture Online Survey, 2011 through 2013
![Page 18: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/18.jpg)
Expectations from analytics technology are high
“Please select the answer that best describes the impact you expect the technologies in the categories below to have on your firm - revolutionary”
Source: November 2013 “Top Technology Trends To Watch: 2014 To 2016”
Rank 2012 (N=216) 2013 (N=118)
1 Mobile applications Mobile applications
2 Mobile platforms (Android, iOs, Blackberry) Big data platforms for real-time analytics
3 Big data platforms for real-time analytics Cloud-based or as-a-service applications
4 Cloud-based or as-a-service applications Customer intelligence and analytics platforms
5 Infrastructure-as-a-service Mobile platforms (Android, iOs, Blackberry)
6 Business event processing and rules Infrastructure-as-a-service
7 Big data platforms for batch analytics Big data platforms for batch analytics
8 Customer intelligence and analytics platforms Sensor systems and smart computing
9 Collaboration and social platforms Business intelligence (reporting, visualization and analytics
10 Sensor systems and smart computing Collaboration and social platforms
11 Business intelligence (reporting, visualization and analytics Business event processing and rules
Base: enterprise architect professionals, Global State Of Enterprise Architecture Online Survey, 2011 through 2013
![Page 19: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/19.jpg)
Cross-channel attribution helps marketers understand the true impact of their marketing strategy
![Page 20: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/20.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 20
What do we mean by cross-channel attribution?
Source: “Cross-Channel Attribution Presents a Clear Path to Marketing ROI” September 20, 2012
The practice of allocating proportional credit to all marketing communications, across all channels, that ultimately lead to the desired customer action.
![Page 21: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/21.jpg)
16% of brands leverage advanced analytics techniques to inform a more accurate evaluation of their channels
Source: In market survey on 2013/2014 Measurement and Analytics Trends
![Page 22: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/22.jpg)
53% of brands use last touch measurement to allocate conversion credit
Source: In market survey on 2013/2014 Measurement and Analytics Trends
![Page 23: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/23.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 23
Cross-Channel Attribution
Marketing Mix Optimization
Now, integrated approaches measures and optimizes marketing and media
TV
EmailDirect Mail
Print Out Of Home Branch / StoreCall Centers
WebSocial Mobile
Integrated Measurement and Optimization
![Page 24: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/24.jpg)
In what areas of business do you apply insights from marketing measurement and customer analytics?
69% use insights for customer relationship
management
67% use insights for channel and campaign planning
62% use insights for customer experience
management
![Page 25: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/25.jpg)
© 2014 Forrester Research, Inc. Reproduction Prohibited 25
Empowering analytics
![Page 26: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/26.jpg)
1. Manage and connect all your data--across devices and channels.
![Page 27: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/27.jpg)
2. Choose a mix of analytical techniques that drive balanced customer growth.
![Page 28: Successful Marketing Requires Even Better Measurement and Analytics](https://reader034.vdocuments.mx/reader034/viewer/2022051816/54416dc5b1af9ff34b8b471e/html5/thumbnails/28.jpg)
3. Deploy analytical models not as “projects” but as interconnected ways to drive customer value.