It's Not the Size of the Data -- It's How You Use It: Smarter Marketing with Analytics and Dashboards - Hardcover

Über die Autorin bzw. den Autor

KOEN PAUWELS is an award-winning professor, consultant, and expert on the topic of marketing ROI. After receiving his Ph.D. at UCLA, he taught at Dartmouth's Tuck School of Business before joining Ozyegin University.

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In a world of seemingly infinite marketing possibilities but limited resources, are you sure you know where it's best to focus your efforts? Can you clearly establish your marketing ROI? Is the promise of big data delivering the answers you need?

Most people would emphatically say "No." Old-school marketers cling to their instincts, while others struggle to find meaning in reams of isolated numbers. Even people using reporting dash-boards or balanced scorecards find it impossible to connect marketing activities to performance, or generate "what-if" insights.

Marketing analytics dashboards are the new standard-bearers of data-driven, accountability-focused marketing. These web-based tools collect key marketing metrics scattered across the company and visually display them as real-time graphs, tables, heat maps, and more. They provide actionable insights from the voluminous information collected through brand tracking, CRM programs, trade shows, online behavior tracking, satisfaction studies, and other touchpoints and channels. It's Not the Size of the Data--It's How You Use It walks you through the entire process of designing and implementing a marketing analytics dashboard in any organization, in any industry.

With its rigorous methodology, step-by-step instructions, and abundant examples (Google, Heineken, Hilton, Vanguard, Unisys, and more), this practical guide explains how to:

Gain crucial IT support.

Build a rock-solid database.

Select key leading performance indicators.

Integrate online and social media metrics.

Design the optimal dashboard layout.

Create a culture that values marketing accountability.

And more.

Whatever challenge you're facing--customer and market data management, online search optimization, product innovation and launch, international budget allocation, integration of social and traditional media--a marketing analytics dashboard can help you accurately track and monitor performance. It will link money spent to results achieved, project the size and timing of profits from various spending scenarios, and pinpoint strategies to grow revenues or cut costs. With the help of this book, your new dashboard will bring the competitive edge of clarity and reliability to every immediate and long-term marketing decision.

Koen Pauwels is an internationally-renowned educator, consultant, and researcher on marketing performance. He is the winner of numerous prestigious awards, including the 2010 Google WPP Research Award; author of dozens of published papers; and chief academic advisor of the Marketing Productivity Group. After receiving his Ph.D. from UCLA, he got tenure at Dartmouth's Tuck School of Business before becoming a professor at Ozyegin University in Istanbul, Turkey.

You can connect with Koen at:

www.notsizedata.com

twitter @koenhpauwels

Aus dem Klappentext

In a world of seemingly infinite marketing possibilities but limited resources, are you sure you know where it's best to focus your efforts? Can you clearly establish your marketing ROI? Is the promise of big data delivering the answers you need?

Most people would emphatically say "No." Old-school marketers cling to their instincts, while others struggle to find meaning in reams of isolated numbers. Even people using reporting dash-boards or balanced scorecards find it impossible to connect marketing activities to performance, or generate "what-if" insights.

Marketing analytics dashboards are the new standard-bearers of data-driven, accountability-focused marketing. These web-based tools collect key marketing metrics scattered across the company and visually display them as real-time graphs, tables, heat maps, and more. They provide actionable insights from the voluminous information collected through brand tracking, CRM programs, trade shows, online behavior tracking, satisfaction studies, and other touchpoints and channels. It's Not the Size of the Data--It's How You Use It walks you through the entire process of designing and implementing a marketing analytics dashboard in any organization, in any industry.

With its rigorous methodology, step-by-step instructions, and abundant examples (Google, Heineken, Hilton, Vanguard, Unisys, and more), this practical guide explains how to:

Gain crucial IT support.

Build a rock-solid database.

Select key leading performance indicators.

Integrate online and social media metrics.

Design the optimal dashboard layout.

Create a culture that values marketing accountability.

And more.

Whatever challenge you're facing--customer and market data management, online search optimization, product innovation and launch, international budget allocation, integration of social and traditional media--a marketing analytics dashboard can help you accurately track and monitor performance. It will link money spent to results achieved, project the size and timing of profits from various spending scenarios, and pinpoint strategies to grow revenues or cut costs. With the help of this book, your new dashboard will bring the competitive edge of clarity and reliability to every immediate and long-term marketing decision.

Koen Pauwels is an internationally-renowned educator, consultant, and researcher on marketing performance. He is the winner of numerous prestigious awards, including the 2010 Google WPP Research Award; author of dozens of published papers; and chief academic advisor of the Marketing Productivity Group. After receiving his Ph.D. from UCLA, he got tenure at Dartmouth's Tuck School of Business before becoming a professor at Ozyegin University in Istanbul, Turkey.

You can connect with Koen at:

www.notsizedata.com

twitter @koenhpauwels

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INTRODUCTION

Such data-driven action typically involves the following four questions:

1. What happened?

2. Why did it happen?

3. What will happen if?

4. What should happen?

Better, faster, and more transparent answers to these questions help

establish marketing accountability.

Yet marketing accountability—let alone the accurate calculation of

return on marketing investment (ROMI)—remains an elusive goal for

most companies, which are struggling to integrate big and small data

and marketing analytics into their marketing decisions and operations.

In their March 2013 article, McKinsey experts share that “in our experience,

the missing step for most companies is spending the time

required to create a simple plan for how data, analytics, frontline tools,

and people come together to create business value. The power of a plan

is that it provides a common language allowing senior executives, technology

professionals, data scientists, and managers to discuss where the

greatest returns will come from and, more important, to select the two

or three places to get started.”

The benefits of “getting started” and “marketing smarter” are huge

in both academic studies and business cases. Even a small improvement

in using marketing analytic dashboards brings companies on average 8

percent higher return on assets compared to their peers. This benefit

increases to 21 percent for firms in highly competitive industries.

Organizations of any size and in any industry have seen sustainable

competitive advantage from using marketing analytic dashboards.

However, only 16 percent of large international companies use marketing

analytics. In my experience, this percentage is even lower for small

and medium-sized firms across America, Europe, and Asia. I see similar

issues across multinationals and companies with a few dozen

employees and in industries ranging from business-to-consumer,

government, and business-to-business. The next three short stories illustrate

the issues that have inspired this book.

In early 2012, I found myself at the U.S. headquarters of a fast-moving

consumer goods multinational. I had been called in to moderate the

discussion between the chief financial officer (CFO) and the chief marketing

officer (CMO) on marketing effectiveness. The CFO insisted on

measuring all main activities either by ROMI or by return on marketing

objective (ROMO). The list of activities included market research,

marketing data management, offline marketing communications,

online marketing communications, promotions, and direct marketing.

Across all activities, the CFO was unhappy and had three concerns:

objectives were not clearly defined, the timing of expected returns was

not specified, and the marketing department showed resistance to

measurement. I helped the CMO to:

* Clarify marketing objectives and align them with the

business strategy.

* Overcome marketing’s resistance to measurement.

* Obtain excellent and relevant data.

* Develop the analytics that showed not just the size but also

the timing of the profit returns to marketing investment in

all categories.

The second illustrative tale took place in an executive meeting at a

European-based business-to-business manufacturer. Country managers

were accustomed to obtaining a certain percentage of their revenues

to spend on marketing. Faced with new competitive threats, all

decision makers felt that this rule was far from optimal and needed to

change—but how? Some countries asked for more money for joint promotions

with their customers—to then sell more of their product to

end consumers. Others considered this simply giving away money to

the customers, and instead advocated a direct-to-consumer campaign

to create awareness and preference for their product. Still a third group

believed the firm should target policy makers directly with sustainable

business credentials, pointing to huge successes of having a prime minister

come talk at the company’s trade shows. Unfortunately, the lack of

before/after measurement of sales lift left country managers unwilling

the change their positions. In this case, I worked in three steps. First,

I ensured that each campaign had a stated, measurable objective that

was defined in place and time and had a before/after measurement as

backup. Second, after collecting data across years and countries, I categorized

all campaigns by objective and ran analytical modeling to

quantify the link between each objective and profits, accounting for

country differences. Third, I recommended an improved allocation in

the direction of the findings.

The third story I want to share involves an Asian manufacturer of

consumer durables who had only sixty employees and nobody in

charge of data maintenance, let alone of the analytics to make them

actionable. Managers were overwhelmed by the hundreds of online

metrics regarding their paid, earned, and owned media, and had little

insight in the exact costs or returns of their offline marketing, which

makes up 85 percent of their budget. When...