Agile Marketing Measurement By Shubu Mitra and Jennifer Zeszut
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Transcript of Agile Marketing Measurement By Shubu Mitra and Jennifer Zeszut
![Page 1: Agile Marketing Measurement By Shubu Mitra and Jennifer Zeszut](https://reader034.fdocuments.in/reader034/viewer/2022050614/587016041a28ab7f428b579b/html5/thumbnails/1.jpg)
AGILE MARKETING MEASUREMENTMARTECH SFMARCH 2016
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Introductions
P. 2
Jennifer ZeszutCEO, BeckonIntelligence for marketing in all its modern complexity@jenniferland
Shubu MitraDirector, Connection Planning Effectiveness & ProductivityThe Coca-Cola Company
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Marketing is speeding up• [image coming]
Source: pennystocks.la/internet-in-real-time
It’s all speeding up
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Agility is the new name of the marketing game
• New consumer touch points are appearing fast and furious.
• Touch point behavior morphs fast
• Windows of opportunity to grow share are tight + shadows of threat are themselves more agile than in the past.
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Technology and declining predictability force alertness
• Digital is a huge part of marketing today and demands agile measurement and management.
• Marketing program performance is less predictable today. So while planning is important, it is even more important to be ready to modify plans.
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Key program performance questions remain
How is the campaign performing?
What is working?
What is not working?
How can we do better?
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Agile best practices
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BEFORE AFTERWillingness to outsource analysis Data-driven marketing as a core, in-house
capabilitySiloed data Integrated and connected visibility
Analysis in the hands of few Analysis in the hands of many (democratization of the data)
Messy data was OK Critical importance of a clean, organized “source of truth”
All centralized OR all decentralized
Strike a balance: centralize the key points of leverage
Tools designed for technical analysts Tools designed for marketers
Annual, quarterly cadence Weekly, daily, hourly feedback loopsManual analysis Automatically + continuously updating analysisInsights in binders and PPT decks Data in the flow of marketing’s decision-making
Agile marketing needs agile measurement
Let’s take these one by one …
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BEFORE AFTERWillingness to outsource analysis
Data-driven marketing as a core, in-house capability
“I’ve been thinking a lot about what legacy I want to leave. I don’t want to be the guy that outsourced all analysis to my
agencies and mix modeling firm. I want to build, in-house, a
core competency for data-driven marketing so that my
entire extended marketing team knows how to view data,
ask questions and optimize continuously.”
– CMO of a global consumer products company
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BEFORE AFTERSiloed data Integrated and connected data
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P.11
BEFORE AFTERSiloed data Integrated and connected data
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BEFORE AFTERAnalysis in the hands of few Analysis in the hands of many (democratize the data)
Marketing
Agency
Senior Mgmt.
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BEFORE AFTERMessy data was OK Critical importance of a clean, organized “source of
truth”
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SPSSINSIGHT TOOLS
ANALYSTS MARKETERS
TABLEAU PPTAD HOC EXCEL
EmailDisplay
Social Publis
h
TV, Print OOH
WebSearch
Social listen
PR / clippin
gs data
EXECUTION TOOLS + TEAMS
DisplayDispla
yDisplay
Social listenSocial
listenWebPR /
eventsSocial Publis
h
TV, Print OOH
TV, Print OOH
TV, Print OOH
Brand Tracke
r
AGGREGATE DATA STORES
EDW SALES DATA
MEDIA DATABASE
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EmailDisplay
Social Publis
h
TV, Print OOH
WebSearch
Social listen
PR / clippin
gs data
SPSS
EXECUTION AGENCIES+ TOOLS
INSIGHT TOOLS
ANALYSTS MARKETERS
TABLEAU PPTAD HOC EXCEL
DisplayDispla
yDisplay
Social listenSocial
listenWebPR /
eventsSocial Publis
h
TV, Print OOH
TV, Print OOH
TV, Print OOH
Brand Tracke
r
AGGREGATE DATA STORES
EDW SALES DATA
MEDIA DATABASE
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EmailDisplay
Social Publis
h
TV, Print OOH
WebSearch
Social listen
PR / clippin
gs data
SPSS
EXECUTION AGENCIES+ TOOLS
INSIGHT TOOLS
ANALYSTS MARKETERS
TABLEAU PPTAD HOC EXCEL
DisplayDispla
yDisplay
Social listenSocial
listenWebPR /
eventsSocial Publis
h
TV, Print OOH
TV, Print OOH
TV, Print OOH
Brand Tracke
r
AGGREGATE DATA STORES
EDW SALES DATA
MEDIA DATABASE
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EmailDisplay
Social Publis
h
TV, Print OOH
WebSearch
Social listen
PR / clippin
gs data
SPSS
EXECUTION AGENCIES+ TOOLS
INSIGHT TOOLS
ANALYSTS MARKETERS
TABLEAU PPTAD HOC EXCEL
DisplayDispla
yDisplay
Social listenSocial
listenWebPR /
eventsSocial Publis
h
TV, Print OOH
TV, Print OOH
TV, Print OOH
Brand Tracke
r
AGGREGATE DATA STORES
EDW SALES DATA
MEDIA DATABASE
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EmailDisplay
Social Publis
h
TV, Print OOH
WebSearch
Social listen
PR / clippin
gs data
SPSS
EXECUTION AGENCIES+ TOOLS
INSIGHT TOOLS
ANALYSTS MARKETERS
TABLEAU PPTAD HOC EXCEL
DisplayDispla
yDisplay
Social listenSocial
listenWebPR /
eventsSocial Publis
h
TV, Print OOH
TV, Print OOH
TV, Print OOH
Brand Tracke
r
AGGREGATE DATA STORES
EDW SALES DATA
MEDIA DATABASE
NOTNORMALIZED, CONSISTENT NAMING, TAXONOMY
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EmailDisplay
Social Publis
h
TV, Print OOH
WebSearch
Social listen
PR / clippin
gs data
SPSS
EXECUTION AGENCIES+ TOOLS
AGGREGATE DATA STORES
INSIGHT TOOLS
ANALYSTS MARKETERS
TABLEAU PPT
EDW SALES DATA
DisplayDispla
yDisplay
Social listenSocial
listenWebPR /
eventsSocial Publis
h
TV, Print OOH
TV, Print OOH
TV, Print OOH
MEDIA DATABASE
Brand Tracke
r
United spend + performance data
hub
AD HOC EXCEL
NORMALIZED, CONSISTENT NAMING AND TAXONOMY
NOTNORMALIZED, CONSISTENT NAMING ANDTAXONOMY
Establish a source of truth
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BEFORE AFTERAll centralized OR all decentralized
Strike a balance: centralize the key points of leverage
WHAT TO CENTRALIZETaxonomyNamingKPIs and Benchmarking The data (a single ‘source of truth’ data hub)Permissions, data accessReporting and analysis toolsPlaybook for measurement
WHAT TO DECENTRALIZEAccess to clean “source of truth” dataLocal market tactic analysisLocal campaign analysisExperimentation, A/B testingOptimization actionsLocal market / brand execution
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BEFORE AFTERTools designed for technical analysts Tools designed for marketers
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JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
BEFORE AFTERAnnual, quarterly cadence Weekly, daily, hourly feedback loops
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BEFORE AFTERManual analysis Automatically + continuously updating analysis
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BEFORE AFTERInsights in binders and PPT decks Data in the flow of marketing’s decision-making
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Agile marketing best practicesBEFORE AFTER
Willingness to outsource analysis Data-driven marketing as a core, in-house capability
Siloed data Integrated and connected visibility
Analysis in the hands of few Analysis in the hands of many (democratization of the data)
Messy data was OK Critical importance of a clean, organized “source of truth”
All centralized OR all decentralized
Strike a balance: centralize the key points of leverage
Tools designed for technical analysts Tools designed for marketers
Annual, quarterly cadence Weekly, daily, hourly feedback loopsManual analysis Automatically + continuously updating analysisInsights in binders and PPT decks Data in the flow of marketing’s decision-making
![Page 27: Agile Marketing Measurement By Shubu Mitra and Jennifer Zeszut](https://reader034.fdocuments.in/reader034/viewer/2022050614/587016041a28ab7f428b579b/html5/thumbnails/27.jpg)
The mandate for agility
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“It’s not one high-level decision each year around mix that makes or breaks
us. It is the million little optimizations that we will
make all year long that means the difference between success and
failure of our new product.”
– CMO of a global technology company
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What are the benefits of agile measurement?• Matches the need• Agile marketing measurement tailored to many current agile
marketing environments.• Less risk• Big bang marketing is risky. Agile, iterative marketing based on
data carries less risk.• Quick, frequent positive course corrections add up…
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Annual optimization lets you do a little more with you marketing spend each year• Annual “mix” models
to help reallocate spend
• Annual year-in-review or “hind-sighting” decks
• Post campaign wrap-up reports from agencies Year
1030507090
110$ in 1,000s
5 10 2015
$10,000 put to work12% Simple InterestNets you $34,000
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But small, continuous course corrections improve your marketing exponentially
Year1030507090
110$ in 1,000s
5 10 2015
12% Simple Interest$34,000
$10,000 put to work12% Compounding InterestNets you $108,920MANDATE FOR AGILE
MARKETING
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The compound interest calculationFUTURE VALUE
PRESENT VALUE INTEREST RATE COMPOUNDING
INTERVALLENGTH OF
TIME
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Do more with the same Your real, true EFFECTIVE marketing spend (THE
POTENTIAL VALUE OF YOUR SAME MARKETING DOLLARS)
What’s your marketing spend
that you are willing to
optimize…(PRESENT VALUE OF YOUR MKTG
$)
What improvement you think you can get each
time you shift between A and B
(INCREMENTAL ROI LIFT FROM
OPTIMIZATION)
…how frequently you will ACT and optimize each
year?(COMPOUNDING
INTERVAL)
…how long you commit to agile
optimization(LENGTH OF
TIME YOU COMMIT TO
OPTIMIZTIONS)
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More than just a good idea …
1% higher profits when you boost marketing analytics “units”/usage by 3 points **
12.7% lift in ROI on average across 11 brands committed to agile marketing and measurement *
** Forrester study on the Total Economic Impacts of using Beckon* Quantifying the Impact of Marketing Analytics by HBR (McKinsey research)
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P. 35
Thank you.