marketing analytics forget about the customer

1. MARKETING
ANALYTICS

2. WHO am I?
M.Parshuram Yadav
 Digital Marketing Trainer – PACE
 Certified From Google
 Certified From IBM-Watson Analytics
 4 years of Experience in Digital Marketing
2
PACE

3. Agenda of Marketing Analytics
 Overview of Marketing Analytics
 Descriptive Analytics
 PredictiveAnalytics
 PrescriptiveAnalytics
 A/B testing and Campaign Terminology
 Customer Lifetime Value
 IBM WASM
 Web Analytics

4.  Lalithaa jewelers Owner
 Spent more than 100 crores for Ads

5. What is Analytics?
“Information resulting from the systematic
analysis of data or statistics.”
What is Data?
“Data are values of Qualitative or
Quantitative Variables, belonging to a Set of
Items”

6. What is Marketing Analytics?
 Marketing analytics measure, manage and analyze trends to maximize the effectiveness
of a company's marketing strategy.
 Marketing analytics to evaluate the success of their marketing initiatives by measuring
performance (e.g., blogging versus social media versus channel communications) using
important business metrics, such as ROI, marketing attribution and overall marketing
effectiveness.
 Examples:
 Walmart finding out what sells in a hurricane
 Netflix finding out what movies a customer might want to watch
 Amazon personalizing and customizing websites

7. Case Study
View source: https://www.youtube.com/watch?v=eA5MNQ4f1uc

8. Measurements

9. Sources of Data

10. Key Marketing Analytics Applications?
 CustomerAttributes Data Store (cloud)
 Customer Migration Reporting
 Campaign Reporting with Revenue Attribution
 Predictive Modeling
 Campaign Selection
 Contact Optimization

11. Marketing Analytics Benefits
 Gain a full view of customers across channels.
 Become more proactive and effective.
 Personalize your marketing and customer
engagements
 Sharpen social media strategies
 Engage your customers in real-time
 Visualize success across the enterprise
 Treat data as a strategic asset

12. Marketing Analytics tools
Traditional Tools:
 IBM, SAS, SAP
Web and Mobile Analytics:
 GoogleAnalytics orAmplitude for SMEs.
 Adobe Marketing Cloud for a large enterprises.
 App Analytics:
 GoogleAnalytics,
 Amplitude or Flurry.
Social Media Analytics:
 IBM WASM

13.  Analytics will play an important role in data security. Analytics
are already transforming intrusion detection, differential
privacy, digital watermarking and malware counter measures.
 The Internet of Things (IOT) will continue to grow rapidly in
2018. Analytics tools and techniques for dealing with the
massive amounts of structured and unstructured data
generated by IOT will continue to gain importance.
 Companies will voice their need of routinely monetizing their
own data for financial gain.
 Growth of Cognitive Analytics.
Scope of Marketing Analytics

14.  Focus on TaxAnalytics- This will simplify the process of
recovering overpaid transaction taxes and helping to
prevent future overpayments.
 Boost in demand for Data Scientists- a hunt for people
who can balance quantitative analysis skills with an
ability to tell the story of their data in compelling, visual
ways.
 Companies would become over-critical and cautious
about Data Accuracy.

15. Customer Analytics
What is Customer Analytics?
 Customer analytics is a process by which data from
business decisions via market segmentation
customer behavior is used to help make key
and
predictive analytics.
 It helps to predict a customers buying pattern, it can
reveal information about customers taste and
preferences.

16. Evolution of Customer Analytics

17. Answerable Business Questions in the 1950’s
 How do store-level prices relate to sales?
 What is the effectiveness of coupons?
 How much does “regional” advertising influence
purchasing?
 What is the impact of in-store promotion on
sales?
STILL QUESTIONS OF INTEREST, BUT LEAVES A
LOT OF MONEY ON THE TABLE. WHY?

18. Newly Answerable Business Questions in the 1960s and 70s
 How do individual-level prices relate to
catalog shopping behavior?
 What is the impact of frequency and timing of
catalogs/mailers on purchase behavior?
 How does product assortment influence
household purchase behavior?
 What types of advertising appeals/messages
are more/less effective?
LEAVES A LOT LESS MONEY ON THE TABLE. WHY?

19. Golden Age of Marketing Research 1980s
The Invention of Store Scanners
The 1980s is the beginning of the “modern age” of
Marketing
 Distribute individual-level discounts at
checkout
 Track customers over time to understand
their long-term buying habits
 Measure person-level coupon and discount
usage
 Greater knowledge of in-store experience
As great as this data is, there is more missing than what is seen.

20. 1990s and 2000s have led to even greater customer insights !
 Track Page Browsing
 Targets Products Considered
 Targets Ads (Based on Purchase History
and Context)
 Link to Past
Experience Cookie
tracking Loyalty
Program
 If build properly, you can link to offline
The Internet Changes the Face of Marketing

21. The Explosion of New Data in Digital Era
Now We are Emerging Data Sets in Marketing

22. Case Study:

23. View source: http://grey.com/global/work/key/new-york-volvo-interception/id/5647/

24. Why People Are So Excited
About Customer Analytics?

25.  Customer experience has become the new currency.
 Digital businesses have lots of questions every day.
 Companies have struggled to correlate online
customer experiences with actual business metrics
and to measure their impact on results.
 We can know what customers are asking for
 We understand what people INTEND to do on your
site.
 This is only just the beginning.

26. NEW DATA SETS IN MARKETING
Intentions and Eye-tracking Data
We use a “Bluetooth” shaped eye cam
developed by TNS Sorensen to capture
shopper’s field of vision.
The Future of Shopping
Media Cart TM

27. Strategies of Leading Firms
American Express:
Social Network- Based Churn Modeling

28. Call Centers: Call Ordering (web remoting)
Amazon: Ship before you buy!

29.  Who are the most/least profitable customers?
 Who are the most/least satisfied customers?
 What type of ads bring most customers?
 What is our customer experience like & how can we improve it?
 What are the reasons for losing customer?
 What are the costs of customer transactions?
Strategic Customer Questions

30. Market Mix 4P’s in Digital World

31. How Do these Four P’s apply to Digital World?
CONCEPT DIGITAL CONCEPT
Product Customer co-creation
Promotion Authenticity
Placement New retail
Price Pay what you want

32. Top tips for product
 Use lists of features and benefits to describe your
product.
 Harness the power of online reviews to support your
product and gain your audience’s trust.
 Use a range of digital media to showcase your product
so that people can engage with it – videos, photos,
interactive apps etc.

33. Top tips for Place:
 Make your online ‘places’ representative of your business
goals. Ask yourself questions to identify your style. Are
you a specialist boutique, or an online supermarket?
 Placement is also very important when it comes to your
online advertising. Ask yourself: where will your online
community be?
 Don’t forget that your digital audience may be accessing
your brand via mobile or tablet. Are you optimized for all
devices?

34. Top tips Promotion:
 Let analytics be your best friend when it comes to
promotion. Measure the levels of engagement,
conversion rates and return on investment for individual
campaigns.
 Let your audience promote for you. For example,
blogger outreach will increase your promotional power
in a huge way.

35. •Use exclusive offers, voucher codes, money-off deals and
referral discounts.
•Price accordingly to your brand image. People will expect
to pay more for a high quality service.
Top tips for Price: