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BusinessOnline on Big Data at SES Chicago 2013

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Big Data Uncovered: How to Gather, Analyze, and React to New Customer Behavior

You may not know it yet, but your greatest asset is not your product; it's your customer relationships. Your data is what offers insight in the minds of your customers. As a marketer, you need to foster lasting connections with consumers and truly quantify the ROI of your initiatives.

To use big data effectively, you must combine the science of data analysis with the art of relationships. This session will help you get started and show you which approach is right for your company. It will examine:

THE SCIENCE
How to use big data to close the loop and track awareness, engagement, and conversion all the way through to sale. The top three marketing attribution models and how to identify the best one for you. How to unite many interactions and data systems to uncover real value.

THE ART
Deep-channel optimization.
Getting to company-level attribution by identifying unknown visitors and creating opportunities and success metrics based on companies, not individuals.

THE DATA
-When to use your own data versus when to use third-party data for customer segmentation, personalized messaging, and media targeting.

Published in: Business, Technology
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BusinessOnline on Big Data at SES Chicago 2013

  1. 1. BIG DATA: #SESCHI How to gather, analyze & react… Drive Marketing ROI @BOLoptimized
  2. 2. Why Big Data? Why now? ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Pace of change… + Companies: Large and small… + Industries: Old & young +Customers: b2b, b2c, male or female, rich or poor… + Change, big change…
  3. 3. Enterprise Value Paradigm Greatest Company Asset… Customer Relationship
  4. 4. Not Product Not IP Not Brand
  5. 5. Age of the Customer “Empowered buyers, disruptive digital innovations…erase traditional competitive advantages…the next wave will come from deep customer knowledge, engagement tied to the buyer's timing, and actions based on an obsessive desire to deliver what your customers want before your nearest competitor does.”
  6. 6. I’m Thad Kahlow @Tkahlow ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// + + + + + CEO BusinessOnline 14 years Digital Marketing B2B or High Consideration B2B Magazine Interactive Agency year Top Agency: 2008, 2009, 2010
  7. 7. Allow me to Digress…
  8. 8. CEO: New normal ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// CEOs operate in a substantially more “volatile, uncertain and complex world” -IBM Study, face-to-face conversations with more than 1,500 CEO’s worldwide.
  9. 9. Solution CEO ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// By…Re-Invent Customer Relationships: +Adopt new channels to engage & stay connected with customers. +Draw more insight from data…make customer intimacy priority #1 “78% CEOs believe #1 goal is to get closer to customer” -IBM Study, face-to-face conversations with more than 1,500 CEO’s worldwide.
  10. 10. Solution CMO ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Deliver Value to Empower Customers + Digital revolution- forever changed balance of power between individual & institution Foster Lasting Connections + Cultivate meaningful relationships… throughout entire life cycle Capture Value, Measure Results + Quantify, analyze and justify the financial results of marketing initiatives
  11. 11. Simplify please… Why Data? Why Attribution? Why now?
  12. 12. Because… Customers have control & fundamentals have changed… Barriers to entry are minimal, competition can enter and win quickly… Customer Relationships become our largest asset Data is introduction, enabler & insight
  13. 13. Win with Data
  14. 14. The Primary Marketing Challenge ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Programs that efficiently and effectively generate leads that turn into sales… yet Majority of marketers do not know which programs produce the leads that turn into sales.
  15. 15. Strategy Starts Data Framework ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Close the Loop Customer Journey More Effective Sales Close the Loop Drive Business Outcomes Personalize Attribute Success Validated Score Attribute
  16. 16. Strategy Starts Data Framework ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Close the Loop More Effective Sales Customer Journey Close the Loop Drive Business Outcomes Attribute Success Attribute Personalize Validated Score
  17. 17. Collect Data Company Buying Journey /////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
  18. 18. “…companies are seeing an average 15-18% Lift in Revenue… As result of implementing closed-loop & Optimizing” - Tina Moffett, Attribution Analysts Forrester Research
  19. 19. Close the Loop Step 1
  20. 20. Common Approach to Measurement ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Awareness: PPC , SEO, Display, Social, Email… Awareness Engagement Conversion SALE Usage Engagement: Bounce, Page Views, Visits, Frequency Content Engagement: Newsletters, Blogs, Videos, Webcasts, product pages Conversion: Request a quote, contact, dealer locator, initiated lead, completed lead, registration, #800 Measured in isolation: -Single Channel to Lead : CPL -Silo Engagement: Avg page views
  21. 21. Close the Loop Marketing to Sales Outcomes /////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
  22. 22. Attribute Success Step 2
  23. 23. Primary Attribution Model Types ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Single Touch Type Rules-Based Statistically Driven Assigns 100% credit to the last or first exposure Assigns credit to each interaction based on specific business rules Assigns credit to each interaction based on a data driven model  First/Last Touch Approach Basic E-Mail Display Search E-Mail Display Search 33% 100% 33% 33% 27% 49% 24%     Even Weights Custom Weights Time Decay Positioned Based Advanced  Regression Model  Probabilistic Model
  24. 24. Model Pitfalls ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Single Touch Type Rules-based Statistically Driven Pitfall E-Mail Display Search E-Mail Display Search 33% 100% 33% 33% 27% 49% 24%  Ignores the bulk of the  Assigns arbitrary values customer journey, to each specific overvaluing the first or marketing tactic last touch  Subjective and lacks  Undervalues other analytics rigor to influencers (and determine weights interactions), including sales efforts Basic Advanced   Can be expensive to execute Some Marketers feel uncomfortable with an algorithmic, “black box” approach
  25. 25. Validated Engagement Factors (Validated Attribution)
  26. 26. VEF Validated Engagement Factor ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Historical (validated) review of past behavior… to improve future outcomes:
  27. 27. Validated Engagement Factors Validated Attribution ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// + Close the Loop: Data house in order: web Closed Loop activity + marketing automation + CRM (sale) in DWH + Determine path to success: what did prospects do before they became clients? +Aggregate past 50+ clients- create statistically significant = validated Path to Success
  28. 28. Validated Engagement Factors Validated Attribution ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// + Normalize: + Analyze prospect engagement activity over 1- 24/mo + Create a Normalized engagement score = 100 (mean). + Lead engagement scores > 100 Score = + “demonstrating sales likelihood behavior” + Analyze for Insights: Prospects actively in the funnel + Engage: Get Personal + Content personalization, + $ remarket, + click to chat + Sales contact Engagement Factor Score Video
  29. 29. Company Attribution
  30. 30. Company Attribution ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// + Typically measured @ individual level + KNOW B2B process is in groups (11 roles) + Every known lead, we can have 10+ unknown visitors + View opportunities at the aggregate company level Attribution Video
  31. 31. Example Individual vs. Company ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// 7 visitors vs. 173 visitors= +17,200% For all Marketers- give us our true credit”
  32. 32. B2B Sales Funnel Stakeholders in Buying Process ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Engagement Score 1800 1600 1400 1200 Analysts 1000 Marketing 800 IT Team 600 C-Level 400 200 0 Month 1 Mo. 2 Mo. 3 Mo. 4 Mo. 5 Most of these stakeholders were anonymous Mo. 6
  33. 33. Drive Business Outcomes Step 3
  34. 34. Create a Tailored Experience Personalize ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// + + Serve the Right : Experience, Message, Content To the Right Person + + + + In the Right: Role, & Industry At the Right time On the right device Based on past success (Validated) SALE General experience Personal experience Convert Increase sales
  35. 35. Unbridled opportunity to Personalize Amazon for B2B/High Consideration ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// + Someone in your vertical + Someone in your role + At this stage of research + Looking for to solve this problem + Has found this piece of information valuable
  36. 36. Future… Predictive Modeling /////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
  37. 37. Thank You Data Education ///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// + + + Data Maturity Model White Paper: Closed Loop Marketing Attribution Webinar: Close the Sales & Marketing Loop @tkahlow thad.kahlow@businessol.com
  38. 38. @BOLoptimized

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