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Win Over Your Competitors with Data Driven Marketing

Win Over Your Competitors with Data Driven Marketing

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The purpose of this whitepaper is to enable businesses to leverage data and insights to increase efficiency, provide seamless experiences, build a data-driven culture, empower automation, data utilization at scale and use programmatic advertising to laser target relevant audience. Incorporating winning strategies, this research paper will allow you to better organize, analyze and apply data in every operation.

The purpose of this whitepaper is to enable businesses to leverage data and insights to increase efficiency, provide seamless experiences, build a data-driven culture, empower automation, data utilization at scale and use programmatic advertising to laser target relevant audience. Incorporating winning strategies, this research paper will allow you to better organize, analyze and apply data in every operation.

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Win Over Your Competitors with Data Driven Marketing

  1. 1. Win Over Your Competitors with Data Driven Marketing Strategy bestercapitalmedia.com Create Winning Marketing Strategy Leveraging Insights & Data
  2. 2. CONTENTS MARKETING AVENGERS bestercapitalmedia.com C-Suite Marketing & Technology Companionship for Hacking Business Growth in 2020 Introduction How do you do it? 03 04 02 Data-Driven Marketing Strategy ABSTRACT he purpose of this whitepaper is to enable businesses to leverage data and insights to increase efciency, provide seamless experiences, build a data-driven culture, empower automation, data utilization at scale and use programmatic advertising to laser target relevant audience. Incorporating winning strategies, this research paper will allow you to better organize, analyze and apply data in every operation. T
  3. 3. bestercapitalmedia.com Data-driven marketing is the future as it allows businesses to perceive data and define actionable items. In today’s hyper-competitive global economy, relying on advanced data analytics and metrics can accelerate business growth. Introduction 21.4% GROWTH TO REACH AT $88 BILLION It is estimated that Digital Marketing is experiencing massive growth, leaving behind all the conventional advertisements including TV Advertising. MARKETING AVENGERS C-Suite Marketing & Technology Companionship for Hacking Introduction 03 Advertising Spending in the MENA region: A recent Zenith study claims that in 2017 internet advertising overtook traditional television to become the world’s biggest advertising medium, accounting for 38 % of total ad expenditure. As internet advertising matured, internet ad spent grew by 12 % year-on-year in 2018, and is expected to grow by an a year fromaverage growth rate of 9 % 2018 to 2021. As per forecast, by 2021, internet advertising will account for 47 % of global ad spend.
  4. 4. bestercapitalmedia.com DATA DRIVEN MARKETING STRATEGY How Do You Do It? Data - Driven Marketing 1- Build a data-driven culture at your brand: Build a data-driven, audience-rst brand, you need a vision for how to use that data. “Be curious. Don’t accept the way things have always been done. Be open to change — and make change itself a competency.” 2- Data-driven marketing helps you act when the time is right: Brands that show up with the right message in just the right moment are the ones nding pathways to growth and revenue. 3- Feeding the Right Data for an Automated Future: Machines are only as good as the data we feed into them. It turned out that many of the things digital agencies had been optimizing for — video completion, for example — were not predictive of brand lift. It was observed that when an ad was both audible and visible on completion, there was a statistically signicant lift in brand awareness. Here, predictive analysis plays a key role in determining the overall success of a Drive customer interactions through insights, increase agility and efciency, achieve greater venue, architect greater experiences, and prove value to your customers-on-promise or in the cloud. Aiming for Digital Analytics Excellence INITIAL DIRECTIONLESS MANAGED DEFINED QUANTIFIED OPTIMISED REPORTING STRUCTURED TESTING CUSTOMER-CENTRIC OPTIMISING No engagement No dedicated resource HiPPO engaged Simple reporting Wider use in business Dedicated analysts (larger businesses) Dedicated experience and media optimisation resources to implement Cross-business integration and collaboration None selected Marketing outcomes Last click Satisfaction scoring Financial value or proxy Simple media attribution Customer Lifetime value Media attribution models KPI dependencies Basic web analytics Basic Social media Basic Email reporting + Customer-feedback + Basic social analytics + Benchmarking tools + Voice of customer + Personalisation + BI visualisation +Real-time social media + Offine report + CRM/Individual tracking + Predictive analytics + Econometric models (large businesses) ‘Out-of-box’ standard reports Goals Custom reports Mailed reports Segmentation, Events Simple threshhold alerts RACE Dashboards Fulll dashboards Automated real-time alerts None Campaign source codes defined, e.g. for Email and social media integration Rules-based personalization system Marketing Automation AI / Machine learning personalization. 360 degree customer view Data Lakes or Data warehouse data storage and analysis None / HiPPO-led Persona consideration Simple in-page and visitor path analysis Ad hoc AB Tests Media testing Structured AB testing programme. Optimisation of Personalisation. Multivariate testing No structured reviews and WILFING Regular (weekly, monthly) 90-day planning defining programme of testing Continuous programme Increase in number of tests of new techniques Management and Resourcing Metrics Selection Tools (Typical types) Analytics Customisation Data Integration Optimisation Review Process MARKETING AVENGERS C-Suite Marketing & Technology Companionship for Hacking Data Driven Marketing Strategy 04
  5. 5. CASE STUDY 11 CASE STUDY 10 CASE STUDY 9 bestercapitalmedia.com campaign. The relationship between the magnitude of one data point causes the other to increase or decrease—for example, as X increases, Y also increases. Or as X increases, Y decreases. 4- Optimize for data points- Google Pixel & Assistant Campaigns Case Study: BCG customized their optimization algorithm based on predictive signals data collected from over 300 previous campaigns and ran it directly against out-of-the-box optimization tools to see which one was more effective. They found that their custom algorithm drove a statistically signicant higher lift in brand awareness. 5- Don’t hoard your data: To make the best decisions for your customers, you need to know what they’re doing today — not three months ago. By identifying real-time customer behavior signals (through your website, app, or other channels) you can start to get a clear understanding of what kind of behaviours correlate with likeliness to convert, either now or in the future. This information should drive your bidding decisions and creative strategy. At HomeAway, all segmentation is now based on real-time behaviours. If someone comes to their site, for example, we can say, “that person behaves exactly like someone who is going to convert in two weeks’ time.” They then know what types of content and messaging might be useful for this person thus they make efforts to keep them engaged until they’re ready to buy. It would be impossible to segment and reach their audiences effectively without automation and machine learning. They’ve become better at nding the right customers and saving money spent on the wrong customers. MARKETING AVENGERS C-Suite Marketing & Technology Companionship for Hacking Data Driven Marketing Strategy 05 6- How data-driven marketing helps you act when the time is right: Marketers rst need to look at customer behaviour patterns and trends, then take action to reach the right people just in time. Integrated data and a powerful platform with built-in machine learning helps uncover user insights that lets marketers know exactly when to place compelling and relevant creative that gives it the best chance to succeed. 7- Vision for how to use that data: You have to develop the tools, like a customer database, to get there. Allowing to intimately understand your customer will help you to drive growth — and the use of data will help you get there. Insights helped 20th Century Fox Film to reach the right audiences- 20Th Century Fox Films is now making smarter decisions about the movies they create, the people they reach, and the experiences they deliver. While data has revolutionized our business, it’s not enough to just have data. On its own, data doesn’t tell you how to solve problems and change the trajectory of your business. You need a vision for how to use that data. Be wary of letting technology decisions masquerade as strategy. Find a vision everyone can rally around — and use data to help you get there. Julie Rieger, President, Chief Data Strategist, and Head of Media at 20th Century Fox Film commented “ “
  6. 6. CASE STUDY 12 bestercapitalmedia.com For a new product launch, they utilized the power of Doubleclick technology and data to create relevant audience segments that have a strong afnity towards the product, beyond the traditionally identiable segments. 34% Sales Growth They used programmatic marketing to advertise videos redirected to YouTube for loyalty. Doing this, enabled them to experience 34% sales growth. Video Ads Technology Personalised Growth MARKETING AVENGERS C-Suite Marketing & Technology Companionship for Hacking Data Driven Marketing Strategy 06 8- Map the data to the language of your industry: To connect with people, it’s critical to understand the language, currency, and signposts within your industry.
  7. 7. bestercapitalmedia.com The future remains bright for data-driven marketing. With key access to predictive analysis and AI-enabled marketing, progressive needs of consumers can be catered efciently. Transiting to data-driven marketing will augment your data collection and analysis, providing you grounds for constant improvement. CONCLUSION MARKETING AVENGERS C-Suite Marketing & Technology Companionship for Hacking Conclusion 07 Our Digital Footprint

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