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#MITXData "Leveraging Data and Analytics for Your Marketing Strategy" presented by Constant Contact and Care.com
The document discusses the significance of leveraging data and analytics in marketing strategies, highlighting the importance of aligning analytics with corporate goals and ensuring strong executive support. It outlines five stages of analytical maturity within companies and identifies key pillars that contribute to successful analytics execution. The future of analytics is anticipated to involve advancements in predictive capabilities, social computing, and a broader accessibility for non-analysts.
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#MITXData "Leveraging Data and Analytics for Your Marketing Strategy" presented by Constant Contact and Care.com
- 1. Leveraging Data andAnalytics for Your Marketing Strategy JesseHarriott,Ph.D. ChiefAnalyticsOfficer,ConstantContact DaveKrupinski CTOandCo-Founder,Care.com
- 2. Agenda • Importance ofAnalytics • Challenge From Within • Stages of Analytical Companies • Analytics Success Pillars • Who Cares About Data?
- 5. Source: 2013 SMBInsights Brand Study published by The Business Journals Copyright © 2013 Constant Contact Inc. 5 Coaching Customer Success KnowHow Great, Easy-to-Use Products Constant Contact facilitates 40+ billion customer engagement opportunities for 500K+ customers each year across social, mobile and email marketing $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 Q3 '07 Q1 '08 Q3 '08 Q1 '09 Q3 '09 Q1 '10 Q3 '10 Q1 '11 Q3 '11 Q1 '12 Q3 '12 Q1'13 Quarterly Revenue ($000) Q3 2007 – Q2 2013
- 6. A Short Storyof Analytics…
- 7. Importance of • “It’sthe economy, stupid” • Intense competition • People becoming more fickle, loyalty elusive • Volume of advertising messages increasing
- 8. Challenge from Within •Weak Executive Sponsorship • Failure to Align Analytics Priorities with Corporate Priorities • Weak alignment from Technology Support Function • Lack of Formal Data Governance • Weak Alignment of Existing Analytical Resources
- 9. Five Stages ofAnalytical Companies 9 Source: Davenport and Harris, Competing on Analytics, 2007 Stage 1 Analytically Impaired Stage 3 Analytical Aspirations Stage 2 Localized Analytics Stage 4 Analytical Companies Stage 5 Analytical Competitors
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- 11. Key Ingredients for EffectiveAnalytics – Meaning – Context – Predictive – Bias towards action (generate revenue, save costs) – Communication
- 12. Who Cares AboutData?
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- 15. Big (and little)Data • Variety, Volume and Velocity • Let’s not forget about the little data • Data analysis is the biggest hurdle to action • Customer Knowledge Framework
- 17. Future of Analytics •Data become less valuable • Predictive becomes the new standard • Social computing becomes essential • Advances in machine learning are made • Traditional data models evolve • Analytics becomes more accessible to the non-analyst • Data science becomes a specialized department • Human-centered computing becomes part of everyday life • Analytics helps solve social problems • There is a location-based data explosion • A data privacy backlash occurs