In Part 1 of this series, we discussed how organizational objectives may change the implementation of a media mix and optimization platform. And in Part 2, we talked about measuring the efficacy of your efforts. Now, let’s talk about collecting and normalizing consumer responses and order/sales data.
We used to live in a world where if you wanted something the same day, you’d go to the store to get it. With same-day delivery, fast shipping, and things like drone delivery on the horizon, the days of having to leave your house to pick up something are numbered. But while logistics teams are busy developing ways to meet these demands, marketers still have some fundamental problems to solve at the top of the funnel.
Amazon’s Echo and its competitors were at the top of shopping lists this holiday season. And now, social media is buzzing with videos of mishaps and rants from frustrated parents whose kids are ordering expensive toys by voice demand. But if you get past the giant teddy bears in your living room, Echo and other IoT devices carry an important reminder for marketers: know your customer.
Managers in all industries know the story of the manager in the boat. He’s tasked with keeping it afloat and instead of calling the shots by staying in the middle, he’s running frantically from one side to the other to check on his crew. In doing so, he’s throwing the whole operation off-balance, and everyone ends up reacting by bailing water.
More and more, consumers are bombarded with messages—from advertisements under the ice at a hockey game to mobile phone apps, or one of the thousands of other places ads are placed in today's media-rich environment. What stands out is how marketers are slowly taking up the concepts of offer optimization:
With a lot of predictions pointing to an emphasis on ROI, 2013 stands to be the year that marketing analysis gets a facelift. CMOs are looking for more results and analytics to prove the value of their efforts. And the world is moving quickly so there’s pressure to keep up.
As published by Direct Marketing News
After a year of engaging several major brands in the development of strategic personas, our thinking has only crystallized.
