Marketing Science for the VUCA world

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A brief introduction to Marketing Science Centre, BRIDGEi2i’s solution to add data science to Marketing

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Marketing Science for the VUCA world

  1. 1. © 2015 BRIDGEi2i Analytics Solutions Pvt. Ltd. All rights reserved Marketing Science for the VUCA world Prithvijit Roy CEO & Co-Founder Prithvijit.roy@bridgi2i.com
  2. 2. 2 Market Customers Marketing Spend Channels Role Disruptive Competition…Can addressable market be estimated more accurately? How can targeted, personalized offers be driven to improve Customer Experience across Customer Lifecycle? Increased Technology and more tools: How can Marketing Spend be optimized? Social, Digital, mobile: Are messages integrated and impact measurable? The changing CMO role: No longer a debate about art vs. science of Marketing Is it the best of times or worst of times for CMOs? CMO challenges in today’s VUCA (volatility, uncertainty, complexity, ambiguity) world …Data production has increased significantly. Is it leading to better decisions?
  3. 3. … but the challenges remain 3 Data is a BIG Opportunity.. Sourced from multiple studies 1 2 4 Data Quality: fragmented data systems Data Integration: Multiple agency partners handling different data fumes Personalization/Privacy: Understanding Behavioural Patterns while respecting privacy 3 Adoption: Driving adoption and increased ROI from data The role of data has increased… Market Data Marketing Automation System CRM Data Web/Social Data Customer Experience Marketing campaign data Customer Profile …But Data alone cannot provide the answers
  4. 4. There is a need for transforming data into outcomes… 4 INFORMATION INSIGHT IMPACT Transform and visualize big data into meaningful business metrics Identify underlying patterns, behavior and predict outcome Operationalize data driven decisions to realize sustainable business value Leverage information about behavior to identify opportunities to provide personalized interventions …and this requires an integrated approach… Business Benefit Optimization Personalization • Market Sizing algorithm • Recommendation Engine Data Management Reporting Research & Visualization Data Augmentation Design Metrics Platforms & Decision Engines Enable Analytics Institutionalization, & adoption Optimization of business objective based on multiple operative constraints
  5. 5. Our Solution: Marketing Science Centre 5 What is Marketing Science ? What is Marketing Science ?
  6. 6. 6 Our Solution: Marketing Science Centre Marketing science Orders & Purchase Campaign Data Customer Data Social & Web Data Marketing Automation Experience & Personalization Digital & Social Mobile Understanding of Marketing Data Environments Innovating around futuristic trends
  7. 7. 7 Marketing Science Data Management Reporting & Visualization Predictive Modeling Market Research Customer Experience Management Cross-Sell Recommendations Marketing Dashboard Lead Scoring & Attribution Building Depth in Core Capabilities Driving Efficiency & Speed through Technology & Algorithms Our Solution: Marketing Science Centre
  8. 8. Components of Marketing Science 8 Experience Technology Enablers Analytics Domain Understanding OUR EXPERTISE Unique philosophy will help us achieve sustainable business impact through actionable insights leveraging data Marketing Intelligence Customer Intelligence Marketing Effectiveness Market Monitor to track trends and changes Market Estimation Framework 360 degree Customer Experience Monitor Target Marketing Models Marketing Performance Dashboard Marketing Mix Optimizer Campaign Effectiveness tracker Real Time 1:1 Recommendation Engine Campaign Operationalization Experience of data transformation with >10 Fortune 1,000 companies Unique technology assets that are customizable for clients In-house predictive Analytics algorithms and frameworks Leadership experience in working with Fortune 100 Technology firms MARKET INTELLIGENCE CUSTOMER INTELLIGENCE Managed Accounts Solutions and Methodologies MARKETING EFFECTIENESS IMPACT FOR MARKETING TEAM
  9. 9. We have shown the Impact: For an Insurance Firm (1/4) Optimizing a multiproduct & multichannel direct marketing program 9 Multiple Channels … Multiple Products … Pertinent Questions … Leveragable Information …
  10. 10. 10 We have shown the Impact: For an Insurance Firm (2/4) Statistical model estimating chance of buying insurance Contact through DM/ Tele marketing Responding to the promotion Purchase Insurance Product TWO STAGE MODELS: Response Rate Conversion Rate ILLUSTRATIVE MODEL: CUT-OFF AGE (55-83) INCOME (>=$30K) MARITAL STATUS (Married) EDUCATIOON (College+)Credit Balance >= 50K USD HIGH LOW Response Rate
  11. 11. We have shown the Impact: For an Insurance Firm (3/4) Integrating individual models into broader communication strategy 11 Product1 Product3 Product2 Product4 Response Models X XX X Conversion Models Score Standardization Contact Optimization Strategy illustrative Prod1, DM Prod2, TM Prod2, DM Prod3, DM
  12. 12. We have shown the Impact: For an Insurance Firm (4/4) Incremental conversion with lower cost 12 7% Database marketing cost Cost Per Conversion M1 M4M3M2 15% 1 2 3 4 5 6+ Contacts per Quarter Insurance Premium Value 10%
  13. 13. 13 Identify Objectives – Frameworks to understand business challenges and identify develop business priorities Identify Stakeholders – Identify Stakeholders are those who may be affected by or have an effect on an effort. Bring in Alignment – Create consensus among the stakeholder Create Roadmap – Create an engagement plan based on the business priorities Understanding & Align to Partner Priorities Marketing Science Centre Center Configuration How we can work with you: Aligning with partner’s goals… ..and in the end, BRIDGEi2i will be measured based on the performance Identify Objectives Identify Stakeholder Bring Alignment Create roadmap Understand Partner Priority Partner Key Stakeholders Marketing Science Center BRIDGEi2i Engagement Manager Leverage BRIDGEi2i broader team Frameworks Advanced AnalyticsTools What we bring to the table Solve: Your business problems and provide accelerated outcomes Simplify: Your Marketing process through use of best-in-class techniques and tools Sustain: by becoming your specialized partner, Centre for Expertise for operationalizing Marketing …while you focus on business and Change Management
  14. 14. Simplify Tools, technology and algorithms to simplify the process of generating and communicating insights Solve Frameworks to understand business problems and challenges and identify suitable solutions Sustain Combination of process, people and technology to operationalize data driven decisions and enable sustainable business value Why you should call us?

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