Marketing Science for the VUCA world

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© 2015 BRIDGEi2i Analytics Solutions Pvt. Ltd. All rights reserved Marketing Science for the VUCA world Prithvijit Roy CEO & Co-Founder [email protected]

Transcript of Marketing Science for the VUCA world

Page 1: Marketing Science  for the VUCA world

© 2015 BRIDGEi2i Analytics Solutions Pvt. Ltd. All rights reserved

Marketing Science

for the VUCA world

Prithvijit RoyCEO & Co-Founder

[email protected]

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Market

Customers

Marketing Spend

Channels

Role

Disruptive Competition…Can addressable market be estimated

more accurately?

How can targeted, personalized offers be driven to improve

Customer Experience across Customer Lifecycle?

Increased Technology and more tools: How can Marketing Spend be

optimized?

Social, Digital, mobile: Are messages integrated and

impact measurable?

The changing CMO role: No longer a debate

about art vs. science of Marketing

Is it the best of times or worst of times for CMOs?CMO challenges in today’s VUCA (volatility, uncertainty, complexity, ambiguity) world

…Data production has increased significantly. Is it leading to better decisions?

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… but the challenges remain

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Data is a BIG Opportunity..

Sourced from multiple studies

1

2

4

Data Quality: fragmented data systems

Data Integration: Multiple agency

partners handling different data fumes

Personalization/Privacy: Understanding

Behavioural Patterns while respecting

privacy

3

Adoption: Driving adoption and increased

ROI from data

The role of data has increased…

Market

Data

Marketing

Automation

System

CRM

Data

Web/Social

DataCustomer

Experience

Marketing

campaign

data

Customer

Profile

…But Data alone cannot provide the answers

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There is a need for transforming data into outcomes…

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INFORMATION INSIGHT IMPACT

Transform and visualize big data into

meaningful business metrics

Identify underlying patterns, behavior

and predict outcome

Operationalize data driven decisions

to realize sustainable business value

Leverage information about behavior to identify opportunities to provide personalized interventions

…and this requires an integrated approach…

Business Benefit

Optimization

Personalization

• Market Sizing algorithm

• Recommendation Engine

Data Management

Reporting Research &

Visualization

Data Augmentation

Design Metrics

Platforms &

Decision Engines

Enable Analytics

Institutionalization, &

adoption

Optimization of business

objective based on multiple

operative constraints

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Our Solution: Marketing Science Centre

5

What is

Marketing Science ?

What is

Marketing Science ?

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Our Solution: Marketing Science Centre

Marketingscience

Orders & Purchase

Campaign Data

Customer Data

Social & Web Data

Marketing

Automation

Experience &

Personalization

Digital & Social

Mobile

Understanding of

Marketing Data

Environments

Innovating around

futuristic trends

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Marketing

Science

Data Management

Reporting &

Visualization

Predictive Modeling

Market Research

Customer Experience

Management

Cross-Sell

Recommendations

Marketing

Dashboard

Lead Scoring &

Attribution

Building Depth in Core

CapabilitiesDriving Efficiency & Speed

through Technology &

Algorithms

Our Solution: Marketing Science Centre

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Components of Marketing Science

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Experience Technology Enablers Analytics Domain Understanding

OUR EXPERTISE

Unique philosophy will help us achieve sustainable business impact through actionable insights leveraging data

Marketing

Intelligence

Customer

Intelligence

Marketing

Effectiveness

Market Monitor to track trends

and changes

Market Estimation Framework

360 degree Customer Experience

Monitor

Target Marketing Models

Marketing Performance

Dashboard

Marketing Mix Optimizer

Campaign Effectiveness tracker

Real Time 1:1

Recommendation Engine

Campaign Operationalization

Experience of data transformation

with >10 Fortune 1,000 companiesUnique technology assets that

are customizable for clients

In-house predictive Analytics

algorithms and frameworksLeadership experience in working

with Fortune 100 Technology firms

MARKET

INTELLIGENCE

CUSTOMER

INTELLIGENCE

Managed Accounts

Solutions and

Methodologies

MARKETING

EFFECTIENESS

IMPACT FOR

MARKETING

TEAM

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We have shown the Impact: For an Insurance Firm (1/4)Optimizing a multiproduct & multichannel direct marketing program

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Multiple Channels …

Multiple Products …

Pertinent Questions … Leveragable Information …

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We have shown the Impact: For an Insurance Firm (2/4)Statistical model estimating chance of buying insurance

Contact through DM/

Tele marketing

Responding to the

promotion

Purchase Insurance

Product

TWO STAGE MODELS:

Response Rate Conversion Rate

ILLUSTRATIVE MODEL:

CUT-OFF

AGE

(55-83)

INCOME

(>=$30K)

MARITAL STATUS

(Married)EDUCATIOON

(College+)Credit Balance

>= 50K USD

HIGH

LOW

Response Rate

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We have shown the Impact: For an Insurance Firm (3/4)Integrating individual models into broader communication strategy

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Product1 Product3 Product2 Product4

Response Models

X XX X

Conversion Models

Score Standardization

Contact Optimization

Strategy illustrative Prod1, DM Prod2, TM Prod2, DM Prod3, DM

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We have shown the Impact: For an Insurance Firm (4/4)Incremental conversion with lower cost

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7%

Database marketing cost

Cost Per Conversion

M1 M4M3M2

15%

1 2 3 4 5 6+

Contacts per Quarter

Insurance Premium Value

10%

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Identify Objectives – Frameworks to understand

business challenges and identify develop business

priorities

Identify Stakeholders – Identify Stakeholders are

those who may be affected by or have an effect

on an effort.

Bring in Alignment – Create consensus among

the stakeholder

Create Roadmap – Create an engagement plan

based on the business priorities

Understanding & Align to

Partner PrioritiesMarketing Science Centre

Center Configuration

How we can work with you: Aligning with partner’s goals…

..and in the end, BRIDGEi2i will be measured based on the performance

Identify Objectives

Identify Stakeholder

Bring Alignment

Create roadmap

Understand Partner

Priority

Partner

Key Stakeholders

Marketing Science Center

BRIDGEi2i Engagement Manager

Leverage BRIDGEi2i broader team

Frameworks Advanced AnalyticsTools

What we bring to the table

Solve: Your business problems and provide

accelerated outcomes

Simplify: Your Marketing process through use

of best-in-class techniques and tools

Sustain: by becoming your specialized

partner, Centre for Expertise for

operationalizing Marketing

…while you focus on business and Change

Management

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SimplifyTools, technology and algorithms to simplify the process

of generating and communicating insights

SolveFrameworks to understand business problems and

challenges and identify suitable solutions

SustainCombination of process, people and technology to operationalize data driven

decisions and enable sustainable business value

Why you should call us?