2015 Outlook for Marketing Performance Measurement by BECKON
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Join Kevin Dodson, Beckon VP of Data strategy for a look at the 2015 Outlook for Marketing Performance Measurement. In this 30-minute webcast, we’ll cover what’s in store for 2015 and the critical measurement capabilities you need to master.
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2015 Outlook for Marketing Performance Measurement by BECKON
- 1. Kevin Dodson VP Marketing & Data Strategy Beckon @kevdod @BeckonInc
- 2. 2015 OUTLOOK FOR MARKETING PERFORMANCE MANAGEMENT 1. The (re)Birth of a Discipline: Omnichannel Performance Management 2. Welcome, Global Marketing Performance Intelligence Teams 3. Bye-Bye, Generic BI – Hello Marketing Data Tools 4. The Marketing Tech Stack As An Ecosystem 5. RIP Single Centralized Data Warehouses 6. Global Data and Reporting Taxonomies Are The New Black 7. “The Integrated Marketing Platform”—Just Another Y2K 8. Marketing Goes Below The Waterline With Data Management 9. Long Live Data Democratization! (or Self-Serve or No-Serve) 10. Data Wonks Become Storytellers
- 3. helps brands understand and beautifully communicate the impact of everything that marketing does
- 4. 1. The (re)Birth of a Discipline: Omnichannel Performance Management (OPM) INSIGHT: A change in focus from channel-level MPM to a more strategic omnichannel focus. OPM will be seen as a strategic initiative foundational to the marketing function. WHAT? OPM is the management and optimization of marketing performance at the omnichannel level • Online & offline Spend and Performance Data • Business Outcomes • Brand Equity Outcomes
- 5. The Rise of Omnichannel... Proprietary and Confidential 5 Google Trends search volume for phrase: “omnichannel” 2011 2012 2013 2014 But why now? • Channel tools are all “in place” • Retail has led the charge in online to offline • Specialized tools are emerging for integration • Execution Platforms • Marketing Middleware • OPM tools like BECKON
- 6. Strategic vs Tactical Omnichannel Data Web Email Search TV Twitter Facebook OOH Mobile In-store Display Business Outcomes BrandOutcomes Print Customer & Transaction Level Data Tactical Campaign & Aggregate Level Data Strategic
- 7. 1. The Birth of a Discipline: Omnichannel Performance Management (OPM) INSIGHT: A change in focus from channel-level to a more strategic omnichannel focus. OPM will be seen as a strategic initiative foundational to the marketing function. IMPLICATIONS: • Growing pressure on marketers to develop the people, process, and technology for OPM • Rapid evolution in techniques for OPM • Omnichannel Data Management becomes a strategic imperative
- 8. 2. Welcome, Global Marketing Performance Intelligence Teams INSIGHT: New centralized roles and teams are emerging to set standards and coordinate across all channels. ROLES WE ARE SEEING: • Global Head of Omnichannel • Global K&I • Chief Marketing Technologist • Head of Marketing Operations • Global Analytics & Insights • Omnichannel Mkt Insights • Head of Omnichannel Insights CENTERS OF EXCELLENCE • Omnichannel COE • Marketing Technology COE
- 9. 2. Welcome, Global Marketing Performance Intelligence Teams INSIGHT: New centralized roles and teams are emerging to set standards and coordinate across all channels. IMPLICATIONS: • Understand where the responsibility lies • Empower cross-boundary teams • Think: global standards and distributed execution
- 10. 3. Bye-Bye, Generic BI - Hello, Functionally- specific (Marketing) Data Tools INSIGHT: SaaS apps purposely built for marketing data will chip away at general data/BI tools (Think: Salesforce and CRM). WHY? • The variety, velocity, and volume of marketing data • SaaS tools time to value is much higher • Higher ROI, lower TCO • Role of enterprise IT evolving
- 11. INSIGHT: SaaS apps purposely built for marketing data will chip away at general data/BI tools (Think: Salesforce and CRM). IMPLICATIONS: • Audit existing internal marketing data projects • Conduct make vs. buy analysis on all new internal data projects • Cultivate IT as a trusted advisor in the selection of marketing technology 3. Bye-Bye, Generic BI - Hello, Functionally- specific (Marketing) Data Tools
- 12. 4. The Marketing Tech Stack As An Ecosystem INSIGHT: Marketers will start to view their marketing toolset as a system of complementary, overlapping technologies that work together, not as siloed assets. WHY?: • The omnichannel view will quickly uncover system and data incompatibilities • OPM difficult with data “trapped” in channel silos • Many systems have overlapping functionality
- 14. 4. The Marketing Tech Stack As An Ecosystem INSIGHT: Marketers will start to view their marketing toolset as a system of complementary, overlapping technologies that work together, not as siloed assets. IMPLICATIONS: • A primary requirement for new MARTEC or ADTEC should be data availability and integration • Increased requirements for a centralized “traffic cop” • Move towards global standard systems with room for local systems
- 15. 5. RIP Single Centralized Data Warehouses INSIGHT: As businesses move toward best-of-breed functionally-specific technologies in order to increase agility and performance, their interest in single centralized data repositories will also wane. WHY?: • Marketing data is evolving too quickly for central repositories • Movement to SaaS applications decentralizes data • Rise of “Marketing Middleware” as the glue
- 17. 5. RIP Single Centralized Data Warehouses INSIGHT: As businesses move toward best-of-breed functionally-specific technologies in order to increase agility and performance, their interest in single centralized data repositories will also wane. IMPLICATIONS: • Resolve the integrated data/decentralized marketing paradox with centralized data standards and oversight • Global Tagging Taxonomy • Global Metric & KPI Standards • Global Best Practices & Governance
- 18. 6. Global Data and Reporting Taxonomies Are The New Black INSIGHT: Enterprise-wide all- function data taxonomies will give way to functionally-specific taxonomies for marketing. WHAT? A Taxonomy is a hierarchical classification of entities. Taxonomies require agreement on: • Naming • Classification • Hierarchy
- 19. Taxonomy Example in The Animal Kingdom
- 20. Marketing Taxonomies • Marketing Program • Initiative • Campaign • Channel • Tactic • Activity • Global • Region • Country • State • City • Store
- 21. 6. Global Data and Reporting Taxonomies Are The New Black INSIGHT: Over complex enterprise data taxonomies or local “roll your own” conventions will give way to flexible, but centrally defined data taxonomies for marketing. WHY?: • Distributed execution with centralized reporting necessitates naming and tagging standards • Velocity and variety of marketing data requires flexibility
- 22. INSIGHT: Over complex enterprise data taxonomies or local “roll your own” conventions will give way to flexible, but centrally defined data taxonomies for marketing. 6. Global Data and Reporting Taxonomies Are The New Black IMPLICATIONS: • Without a standard omnichannel marketing taxonomy, OPM is difficult • Get your marketing data taxonomy in place as a foundational piece of OPM.
- 23. 7. “The Integrated Marketing Platform” - Just Another Y2K INSIGHT: The promise of the fully integrated marketing platform solutions big tech firms scrambled to deliver in 2014 has already dimmed and will continue to fade in 2015. WHY?: • The promise of integration has proven difficult to deliver • Marketing is moving too fast for a single vendor to have all channels covered • Platform data “lock-in” is an issue
- 25. 7. “The Integrated Marketing Platform” - Just Another Y2K INSIGHT: The promise of the fully integrated marketing platform solutions big tech firms scrambled to deliver in 2014 has already dimmed and will continue to fade in 2015. IMPLICATIONS: • The marketing landscape will continue to be “messy” • Best of Breed systems will need to coexist within a planned ecosystem • OPM, along with marketing middleware, will be the “glue”
- 26. 8. Marketing Goes Below The Waterline With Data Management INSIGHT: Marketers will stop focusing on the tip of the iceberg (data visualization) and start working below the waterline on data management (automating, normalizing, blending). WHY?: • In an “always on” data environment, pixel- prefect reporting becomes less important • As the focus shifts to OPM, data integration becomes the core issue • 80% of analysis time is spent collecting and cleansing data
- 27. 8. Marketing Goes Below The Waterline With Data Management INSIGHT: Marketers will stop focusing on the tip of the iceberg (data visualization) and start working below the waterline on data management (automating, normalizing, blending). IMPLICATIONS: • Have a strategy in place for data management • Foster a core competency within the marketing department of data management • Marketing will need more dedicated data engineers
- 28. 9. Long Live Data Democratization! (or Self- serve or No-serve...) INSIGHT: The velocity of data and analysis required and the capabilities of new tools are making data self- service is a reality. WHY?: • As marketing becomes data, marketers can no longer rely on agencies for campaign-level optimization • The rise of always-on media • Emerging tools can support analysis by non- specialists
- 29. 9. Long Live Data Democratization! (or Self- serve or No-serve...) INSIGHT: The velocity of data and analysis required and the capabilities of new tools are making data self- service is a reality. IMPLICATIONS? • Marketers need to get comfortable with data • Marketing executives will have more visibility into all aspects of spend and performance • Data will move out of the agencies and into the enterprise
- 30. 10. Marketers Become Data Storytellers (or, We Have The Data, So What? ) INSIGHT: Telling marketing stories through the customer lens and the business lens will become increasingly critical if marketing is to be a strategic function in the enterprise. WHY? • The increasing availability of data will enable faster and more distributed analysis to non-experts • So much data will require a signal-to-noise issue – so how to get heard?
- 31. 10. Marketers Become Data Storytellers (or, We Have The Data, So What? ) INSIGHT: Telling marketing stories through the customer lens and the business lens will become increasingly critical if marketing is to be a strategic function in the enterprise. IMPLICATIONS? • Marketers need to be creative about how they are communicating data and analysis to executives and non-experts • Systems to support storytelling and curation will gain traction
- 32. Proprietary and Confidential 32 Kevin Dodson VP Marketing & Data Strategy Beckon @kevdod @BeckonInc Questions?
- 33. Types of Marketing Optimization Speed of Decision ScopeofOmnichannelOptimization Immediate Bi/AnnualDaily Weekly Monthly Managerial (Omnichannel Campaign) Strategic (CMO) Tactical (Single or few Channel) Tracking to goal or objective Comparison/ranking Visual Correlation Internal Benchmarking Lift over Baseline Test and Control External Benchmarking Mathematical Correlation Digital Attribution Mix Modeling Next Best Action (DMP data, programmatic…) Single Source (surveys) BECKON Managerial, strategic AND automatable
- 34. 2007 2008 2009 2010 2011 2012 2013 2014 Need for Marketing Analytics Is Rising Google Trends Search Volume (index) for phrase: “Marketing Analytics” Proprietary and Confidential 34
- 35. BECKON MARKETING DATA FRAMEWORK OBJECTIVESMETRICS/KPIS DATAREPORTING CATEGORIES DATASOURCES &CHANNELS ONLINE OFFLINE MARKETING ACTIVITIES OUTCOMES BRAND BUSINESS BUSINESS MARKETING CAMPAIGN CHANNEL BUYER’S JOURNEY STRATEGIC METRICS (all-channel, CMO level) TOP-DOWN ANALYTICS Start with a goal, then find the data. • Scorecards • Dashboards BOTTOM-UP ANALYTICS Start with data, then find the insights. • Ad-hoc analysis • Auto correlation • Variances VOLUME (COUNTS) EFFECTIVENESS (RATIOS) EFFICIENCY ($) AGGREGATED METRICS (multi-channel, manager level) ACTIVITY METRICS (single-channel, tactician level) • Total new customers • Total sales • NPS • Net sentiment • Engagement/Impressions ratio • Paid/Earned ratio • Aided awareness • Share of voice • ROMI • ROMO • Cost per new customer • Cost per point of awareness • Impressions by campaign • Engagement by channel • Sales by region • GRPs by DMA • E/I ratio by campaign • P/E ratio by channel • Engagement rate by agency • Likes per post by channel • Cost per impression by campaign • Cost per engagement by channel • ROMI per business unit • Sales per square foot by region • Visits • Clicks • Likes • Sends • Click-through rate • Conversion rate • Open rate • Cart abandonment rate • Cost per click • Cost per thousand • Cost per point • Cost per attendee MARKETING • Funnel • P/O/E • Channel • Campaign BUSINESS • Product • Industry • Region • Competition ORGANIZATIONAL • Business unit • Department • Owner • Agency CUSTOMER • Segmentation • Type (new, old) • Demographics EXECUTION • Placement • Creative • Offer • Test/Control Beckon Proprietary and Confidential. Contact [email protected] for more information. D isplay Em ailW ebsite E-com m erce M obile A pp SEO SEMFacebook Tw itterListeningLinkedIn V ideo TV R adio Print O O H D irectM ail PR Events SponsorshipC inem aIn-Store R etail C allC enter B randC ustom er C om petitive Sales E-com m erce C R M