Optimizing Marketing Decisions

Intended for Knowledge Sharing only

If you are Villanova, Data is your Coach & not your Cheerleaders

Digital Summit

May 2016


Disclaimer: Participation in this summit is purely on personal basis and not representing VISA in any form or matter. The talk is based on learnings from work across industries and firms. Care has been taken to ensure no proprietary or work related info of any firm is used in any material.


Quick recap of what it is


WHY MARKETING?

NESPRESSO, WHAT ELSE!

Intended for Knowledge Sharing only 4

Original Source (just for illustration, no business use) : https://www.youtube.com/watch?v=JcZr7s5UAiY

https://www.youtube.com/watch?v=JcZr7s5UAiY

https://www.youtube.com/watch?v=JcZr7s5UAiY

MARKETING ADDS PERSONALITY & BRINGS USERS


PRODUCT UX MARKETING




COMMON MISSES

WHAT’S MY STRATEGY HERE? IT WILL WORK, HOW’S THAT?

7Intended for Knowledge Sharing only

Will make America great

again!

Source: www.theodysseyonline.com

http://www.theodysseyonline.com/author/elizabethracine

WHAT’S MY STRATEGY HERE? IT WILL WORK, HOW’S THAT?


…Strategy is not rhetoric, it’s “the” vision with an execution plan

NEED MORE DATA


…need actionable insights not more data

GIVE ME PREDICTIVE ANALYTICS, I SAY


…Prescriptive not just Predictive is the need

Source: https://www.pinterest.com/exasolag/fun-about-data/

LEAN ORGANIZATION IS ME


…Lean Organization is about focus not tunnel visionSource: https://memegenerator.net/instance/62608723

IT WORKED FOR THEM DUDE - IT WORK FOR ME TOO, I KNOW!


…Marketing is about emotional connection, “originality” works more often

Source: https://imgflip.com/memegenerator/Steve-Job

HMMM, LET’S SPEND MORE AND SEE…


…Iterative “Test & Learn” is the key




“MARKETING IS TOUGH” SHE SAID, “TOTALLY AGREE” I SAID

PRODUCT HAS IT ALL EASY …


PRODUCT MARKETING

Type of ImpactDirect:

e.g., sign ups, purchases

Direct + indirect:e.g., emotional connect,

buzz

…and Marketing has it rough relatively

Timeliness of Impact Immediate Lagged

Where it all happens Known properties Diverse & fragmented

Data sources Known instrumentation Not homogenous

Exogenous FactorsRelative control,

Managerial freedom

Chaotic, competitive, fickle

…but trends are encouraging– Big data (4V) and processing capabilities, Marketing Tech Automation, Attribution technologies, Targeting & Re-Targeting capabilities.




“ENOUGH YAPPING DUDE, GET TO THE POINT”- WHAT DO YOU RECOMMEND?

DEFINE STRATEGY, THE EXECUTION PLAN & ALIGN THE ORGANIZATION


Strategy ExecutionOrganization

al Transformati

on

ANALYTICS VALUE CHAIN


Strategy

Data Instrumentatio

n

Data Platfor

m

Reporting

Analytics

Research

Optimization

Data Product

s

IterativeLoop

Focus on Big WinsReduced WastageQuick FixesAdaptabilityAssured executionLearning for future initiatives

MORE ON STRATEGY…


ExecutionStrategyOrganization

al Transformati

on

• Understand the high level Corporate Vision and Goals• What to do to deliver against the vision and meet the

goals and why them of all the options?• How to measure, monitor and analyze performance?

• When to feel good vs. bad?• How to react as we learn more from numbers?

• Goals• Initiative Sizing &

prioritization• Metrics Instrumentation

& Analysis framework• Success/Stop Criteria• Stop vs. Ramp vs. Repeat

What do we want to do? MBA Acronyms

…SOME ON EXECUTION PLAN


• What is working and not, why & what to do?• Ensure execution against estimates – cost, effort, needs

• Be cognizant of changing strategy/needs/market – Sizing & Prioritization

• Balance Scorecard• Dynamic Project

Management & Lean• Agile & Continuous dev


ExecutionStrategyOrganization

al Transformati

on

…& FINALLY ORGANIZATIONAL ALIGNMENT


• Ensure everyone involved– Product, Analysts, Engineers are trained in Marketing, aware of Strategic needs & ownership, focused on their metrics and empowered to take action.

• Ensure that problem statements are continuously updated with new learnings, adaptive delivery and focused on goals and big wins first.

• Tech suite up-to-date & tailored to needs, integrated, automated & scalable, Data Lake & efficient storytelling.

• Alignment across stakeholders focusing on problem & Customer first approach

• People-Process-Process-Technology

• RASCI Framework

• Iterative Learning & Lean Management

• Data Management & Operationalizing Analytics


ExecutionStrategy

Organizational

Transformation

WHAT DID YOU MEAN BY OWNERSHIP OF METRICS?


Source: omimbe.from-mn.com

Brand Awareness, Share of Voice,

Mentions, Sentiment

Open/Click Rates, Inquiries/Site

Visits, Questions

Conversion, Txns, Sign Ups,

Downloads, Searches/Visits

per User

Repeat Usage, #/$ Txns per User,

Support Center, Growth

NPS, Referrals, Social Media

Sentiment

http://omimbe.from-mn.com/customer-service-life-cycle-126239.html

Intended for Knowledge Sharing onlyIntended for Knowledge Sharing only

IN CONCLUSION…

STRATEGY IS THE KEY

Insights help deliver against Strategy, manage execution and improve performance.

Data can be leveraged to bring organization together to attack a problem, share learnings, pool resources.

Data Products by themselves can deliver value at scale and speed previously impossible.

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Value realization from Insights is an outcome of all the right things that have happened before we begin generating them.

Insights have stopped being “cost function” and more of “Revenue function” now. Tangible benefits include reduce wastage, focus on big wins, quick turnaround times, more assured execution & rapid adaption.

KEY TAKEAWAYS

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• “Know” that Marketing is tough

• “Must have” a strong Strategic, Tactical & Organization framework

• “Ensure” technology suite is relevant to needs and updated

• “Develop” alignment and ownership of various elements

• “Prepare” for evolving trends that will enable higher value realization




Appendix


Disclaimer: Participation in this summit is purely on personal basis and not representing VISA in any form or matter. The talk is based on learnings from work across industries and firms. Care has been taken to ensure no proprietary or work related info of any firm is used in any material.

Director, Insights at Visa, Inc. Enable Decision Making at the Executives/ Product/Marketing level via actionable insights derived from Data.

RAMKUMAR RAVICHANDRAN

THANK YOU!


Would love to hear from you on any of the following forums…

https://twitter.com/decisions_2_0

http://www.slideshare.net/RamkumarRavichandran

https://www.youtube.com/channel/UCODSVC0WQws607clv0k8mQA/videos

http://www.odbms.org/2015/01/ramkumar-ravichandran-visa/

https://www.linkedin.com/pub/ramkumar-ravichandran/10/545/67a

RAMKUMAR RAVICHANDRAN

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https://twitter.com/decisions_2_0










Data & Analytics

Optimizing Marketing Decisions