Happy 2016. Google Trends tells us we’re now a decade into the analytics revolution. Yet, a fall 2015 Association of National Advertisers survey reports that only 10% of senior marketers feel they effectively use customer insights to improve performance. Why?
Maybe it’s a matter of consistency— or a lack of it. The novelist William Gibson said, “The future is already here—it’s just not evenly distributed.” In our recent work helping large, multi-channel marketers make the most of their spending within and across various touch points, we’ve seen this pattern frequently. More specifically, we’ve learned to look for:Uneven application of sound, practical operating methods.
At one specialty retailer, for example, we’ve seen digital marketing campaigns (display, search, social) operate without the same testing regimes used by the CRM (email, direct mail) teams, even as the capacity to support testing is there.
Gary Loveman, the former CEO of Caesars Entertainment, famously said that there were three ways to get fired from the hotel and casino company: theft, sexual harassment, and running an experiment without a control group. In particular, we’re seeing uncontrolled tests more often where digital marketing programs are outsourced to high-growth digital advertising intermediaries where the newest hires may be less experienced.Failure to leverage what’s learned in one channel to better manage others.
At a leading financial services firm, different teams manage different web properties, but with different philosophies and different attitudes toward incorporating data for design and publishing decisions, performance lift created in certain places isn’t getting propagated as broadly or as quickly as it should.Missing the opportunity to make “2+2=5” by coordinating closely related channels.
At a global health care firm, different agencies and internal teams are involved in planning and executing campaigns in different media. As a result, proven opportunities to coordinate these channels to amplify their impact – say, by coordinating flights of traditional and digital ads—are going unexploited.
To help you grade and improve your present realization of the digital marketing future’s potential, we’ve put together a worksheet based on tools we use in our work. It includes 10 questions you can ask, different answers you might get to them, and prescriptions for how to respond depending on what you hear. Take it to your next planning meeting.Your 2016 Digital Marketing Tune-up GuideHarrold is an analytic director at iKnowtion, a marketing and analytics consulting firm, as well as an adjunct professor at Boston College, where she teaches marketing analytics at the graduate level.Brea is the founding managing partner of Boston-based Force Five Partners, a marketing and sales analytics consulting firm. He is also the author of
Marketing and Sales Analytics.
Read More >