WELCOME TO OUR SEMINAR ON BIG DATA, LITTLE INSIGHT ?
THOMAS OOSTHUIZENGLOBAL CONSULTING DIRECTOR15 OCTOBER 2014
“ALWAYS ON” CONSUMERS GENERATE POWERFUL DATA, BUT DO WE AS MARKETERS USE IT TO CREATE THE INSIGHTS, STRATEGIES - AND LEVERAGE THE MOST APPROPRIATE TOOLS – THAT WILL GROW OUR BRANDS?
- What is digital?
- How – and why - is it relevant to my business?
- What works?
- How much of the budget should be spent on digital?
- Why do so many global multinationals wax and wane regarding social media usage?
- Is digital a high-level business issue - or is it a tactical marketing issue?
- Will very good data frameworks and analytics drive greater results in my marketing?
- How does the new digital landscape impact my marketing department?
- How do we measure real business results (ROMI), not just impressions like Facebook “likes”?
THE DIGITAL ERA LEAVES US ALL WITH A LEVEL OF DISCOMFORT
MARKETING IN A DIGITAL WORLD IS WHEN WE ALIGN OUR BRANDS WITH THE NEEDS, DIALOGUE AND BEHAVIOURS OF OUR CUSTOMERS, TO BECOME ONE SEAMLESS PROCESS WHERE WE CREATE VALUE IN OUR CUSTOMER RELATIONSHIPS & IN OUR BRANDS AND COMPANIES.
QUOTE, SENIOR BRAND MANAGER IN A LARGE GLOBAL MULTINATIONAL COMPANY
“OUR COMPANY IS IN THE ANALOG AGE, YET OUR CONSUMERS HAVE MOVED INTO THE DIGITAL AGE.”
YET, THE NEW ERA IS THE GREATEST POTENTIAL OPPORTUNITY WE HAVE EVER HAD!
DEEP INSIGHT EMPOWERS RESULTS-DRIVEN MARKETING. RESULTS-DRIVEN MARKETING EMPOWERS GREATER EFFICIENCIES IN BUSINESS.
The job of marketing is to “keep”, “grow” and “get customers. Digital marketing is the best tool we have ever had, it takes us back to the origins of marketing.
THE DEMOCRATISED CONSUMER IS PROBABLY THE BIGGEST CHALLENGE THAT HAS EVER FACED BRANDS: ADD TO THIS THE COMPLEX NEW MARKET UNIVERSE.
“CONSUMERS HAVE REALISED THEY CAN BE AT THE CENTRE OF THEIR OWN WORLD.”
CHIEF DIGITAL OFFICER CLUB2014
MCKINSEY CONDUCTED A SURVEY OF 418 SENIOR EXECUTIVES ACROSS THE AMERICAS, EUROPE AND ASIA, MAY-JUNE 2013,
49% OF COMPANIES WHO CHAMPION THE USE OF CUSTOMER ANALYTICS ARE LIKELY TO HAVE PROFIT WELL ABOVE THEIR COMPETITORS.
COMPANIES THAT USE ANALYTICS WELL OUTPERFORM THOSE THAT DON’T:
Profit Sales Sales growth ROI0
10
20
30
40
50
60
Extensive use No extensive use
ANALYTICS DRIVE PERFORMANCE & SALES
Customers
acquire
d
Customers
retained
Customer s
atisfacti
on
Sales to existi
ng custo
mers
Customer p
rofitability
0
10
20
30
40
50
60
70
80
90
FURTHERMORE, INCREASING THE “LIFETIME VALUE” OF CONSUMERS INCREASES THE STOCK PRICE OF COMPANIES. THIS IS TOTALLY DEPENDENT UPON DATA INSIGHTS & TRACKING
From MIT Sloan Management Review, Kumar & Shah, June 2011:
“…using a consumer lifetime value metric (to micro target segments) to allocate the marketing budget and differentiate the marketing strategy helped
both companies maximise their return on their marketing spending…”
“the two companies saw their stock prices increase by 33% and 58% - … substantively above their three top competitors…”
“the current business environment drives marketing to be more of a science than an art…”
“SO HOW?”WE ALL TODAY LEAVE DIGITAL “FOOTPRINTS” IN OUR DAILY LIVES…THIS CAN BE LEVERAGED BY MARKETERS BY FITTING THEIR BRANDS INTO THE NATURAL ACTIVITIES OF CONSUMERS
- We do. We talk. We ask. We cry. We laugh- We interface with brands - We make observations- We get an education- We are entertained- We search for information of a myriad of kinds and a myriad of reasons- We read real newspapers and magazines- We listen to music, on whatever device we choose- We watch television and listen to the radio- We receive post- We buy things- We browse around in stores
AS CONSUMERS, WE LIVE THROUGH THE MOMENTS OF OUR DAY
CONSUMER BUYING BEHAVIOR
BRAND TOUCH POINTS
Where consumers and the brand connects, online & offline, usual & unusual places
CONNECTING CONSUMERBEHAVIOUR & BRAND TOUCH POINTS
CONSUMER BUYING BEHAVIOR
BRAND TOUCH POINTS
From becoming aware of a need to buying a brand
GOOD DATA = GOOD MARKETING: WE NEED TO UNDERSTAND & CONNECT CONSUMER DATA TO ENABLE THE BRAND BEING THERE ON-TIME, ON SPEC
Knowing where the brand is interfacing with consumers & can
interface with consumers
CONSUMER BUYING BEHAVIOR
BRAND TOUCH POINTS
What we know about IMC as well as data tracking behaviour online, there is strong
incremental benefit in being at all touch points
THE BRAND NEEDS A PRESENCE WHEREVER IT MATTERS IN THE LIFE OF THE CONSUMER: THE GREATER THE NUMBER OF CONNECTIONS, THE BETTER
Using own device for assistance tocheck price: 59%; sales associate: 17%*
incremental conversion to sales: using mobile only before purchase: +20%; using mobile
before and after: + 40%.*
*DELOITTE
2014
CONSUMER BUYING BEHAVIOR
BRAND TOUCH POINTS
Level of engagement is exponential, meaning that
marketing becomes more effective
THIS ALSO MEANS THAT THE LEVEL OF CUSTOMER ENGAGEMENT INCREASES ALL THE TIME
We focus on the right messages which means that marketing becomes more
efficient with less wastage
CONSUMER BUYING BEHAVIOR
BRAND TOUCH POINTS
Better insights into customer behaviour means the brand value proposition improves all the time
THIS MEANS THE BRAND STAYS CLOSE TO ITS CUSTOMERS AND CAN INNOVATE BETTER AND MORE OFTEN
Better ongoing insights into consumer: brand touch points, means marketing
becomes more innovative
CONSUMER BUYING BEHAVIOR
BRAND TOUCH POINTS
Knowing what to measure. Learning what works and what does not. Knowing where
to focus marketing spend
ULTIMATELY, OUR MARKETING PRODUCES BETTER ROI
THECONSUMER’SLIFE
THEBRAND TOUCH
POINTS
COMMUNICATING WITH THE CONSUMER WITH THE RIGHT MESSAGE, THE RIGHT PRODUCT OR SERVICE, THE RIGHT TONALITY, AT THE RIGHT TIME, IN THE RIGHT PLACE.
HOW CONTENT CONNECTS WITH STRUCTURE
5. MULTIPLIER EFFECT:LEVERAGING MULTIPLE CONNECTIONS ACROSS CHANNELS
4. CONTENT & CREATIVITY:IDEA UNIQUENESS
3. SYSTEMS/ APPLICATIONS/ TOOLS
2. DATA ANALYTICS & INSIGHTS
1. DATA STRUCTURE & STRATEGIC FRAMEWORK
AwarenessPerceptionsPositioning/
TonalityTrial
UsageLoyalty
Advocacy
Infrastructural & analytical
development that enables real-time
consumer engagement & customisation
CMO
CIO
Digital technology is part of the business strategy. Digital marketing requires the alignment of all executives. It is not the job of the CIO or the CMO alone. It impacts the business as a whole.
Digital technology connects marketing objectives, with customers and brand touch points.
The foundation of any good marketing strategy is a sound data framework. • Any brand is after all about customers. The value of our brand to them and what they will pay
for it. Now the consumer can demand to be at the centre of our company. • To do that, we need to align their needs with our brand, online and offline. • It is now about real-time marketing, or working towards it. When consumers have a need, we
need to understand it and be there with the right offer.• This will take time, but we need a plan to get there.
Digital transformation needs to connect marketing with the operational systems of the business, i.e. Customer Service, the Call Centre.
SO WHAT DO I DO ABOUT THIS TODAY?
Do not divorce B2B and B2C: it is about how the different brand touch points are managed, interfaces and integrates. They are all part of one seamless process the consumer is exposed to. He or she does not see it as separate things, touch points either build the brand or they don’t.
All engagement must create a seamless brand experience for the consumer, one that will build value for the consumer and for the brand.
Work within the data and planning framework. If not, activities will be anecdotal and your executive team will lose confidence in the process.
As every touch point can now be managed and monitored, we can track performance and ROMI like never before.
For companies, it will eliminate wastage and make marketing investment more results-driven. It will make your marketing more efficient and effective.
DO TODAY:
THANK YOU!
INTRODUCTIONS
• NAME• COMPANY/ROLE
• WHAT IS YOUR ORGANIZATION’S BIGGEST CHALLENGE WITH DATA?
THANK YOU FOR YOUR TIME TODAY, PLEASE JOIN US FOR DRINKS