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January 2017 is a pivotal moment in time for the marketing discipline. According to a recent Gartner study, 2017 marks the third consecutive year of increased budgets for CMOs for the majority of those surveyed, with digital advertising, marketing technology and analytics among the areas most likely to see an increase in spending.
Prediction has always been a tricky business. Weather forecasts, airline schedules and stock tips are often the butts of jokes for the very simple reason that predicting the future is not only difficult, but most valued when the future is hardest to see. Reliable, trustworthy predictions depend on having the right data inputs.
Conspiracy theories can be fun. Why haven’t humans been back to the moon since 1972? How could one person have possibly written all of Shakespeare? Didn’t someone just see Elvis alive and well outside a Vegas lunch buffet? What’s fun about these theories is when they take on a life of their own as urban legends.
If you tuned into the recent Rio Olympics, you saw many inspiring acts of athletic transcendence — and probably an equal or greater number of commercials. It’s always interesting to see what brands do when they know they’re guaranteed a huge audience — the threads of consumer conversation they’ll try to engage, the threads to which they’ll turn deaf ears, and so on.
For marketers, customer journey analysis often results in accidental narcissism. Analytics are supposed to illuminate our blind spots, not reinforce our assumptions. The most useful customer journey to understand is the one that leads a consumer to your competitors’ cash register. And one of the best examples of this dynamic is the quick-serve restaurant (QSR) industry.
For marketers, the mandate to drive revenue has led to an explosion of analytics solutions. There’s a dashboard for virtually every marketing metric you can think of — buzz, sentiment, NPS (Net Promoter Score), brand engagement and several other voice-of-customer visualizations. But the barrage of bar charts blinking in the faces of marketers is blinding them to the data tha ...
As the NBA and Stanley Cup playoffs rage and the Olympics loom, untold dollars are pouring into sports sponsorships as major brands hope to bring home some gold of their own. Betting on centerpiece sporting events such as these has been a no-brainer for decades, and putting your brand in the hands of a team or athlete is a fairly safe play to call.
“Not everything that counts can be counted, and not everything that can be counted counts.” — William Bruce Cameron, sociologist It may be heresy coming from a marketing analytics company like Quantifind (my employer), but today’s marketer simply has too much analysis. We’ve finally passed that tipping point where the human capacity to absorb and act on data has become over-s ...
Storytelling is a fundamentally important marketing discipline. Unfortunately, it is also one of the most overused buzzwords in our industry. Pundits use “storytelling” to refer to everything from anecdotes and case studies to persona-based marketing. To find a storytelling model that actually refers to the science of creating stories, marketers should consider a model base ...
Even in uncertain economic times, marketing technologies continue to flourish. Overworked marketers facing a shortage of hours in the day are discovering enormous efficiency gains with a variety of automated solutions. Marketing analytics is growing faster than any other segment in this category, promising everything from perfecting the customer journey to proving — to even ...
For marketers, 2015 was the year we figured out that buzz and sentiment were as likely to lead us astray as to offer insights that move the needle. That means the race is on in 2016 for marketing analytics professionals — both in-house and vendors — to figure out how to find data that intelligently correlate to revenues (or at least, to KPIs that are smart approximations of ...
The most exciting phrase to hear in science, the one that heralds new discoveries, is not “Eureka!” but “That’s funny…” — Isaac Asimov Microwave ovens. Velcro. Viagra. These and many other everyday scientific advances were discovered quite by accident. Serendipitous discovery plays a huge role not only in scientific advances, but also in major breakthroughs in marketing strategy.
Ever feel like your marketing strategy starts off in perfect tune and slowly drifts off-key as the months roll by? Ever wish you could find a way to auto-tune your marketing strategy so that every note resonates with your audience, no matter how the melody shifts? If so, you’re not alone. Planning cycles everywhere, in and out of marketing, are in the midst of a sea change.
As marketing analytics continue to evolve at a breakneck pace, an interesting race is beginning to take shape: human intuition vs. machine-based intelligence. Earlier this month, MIT researchers announced they’ve developed an algorithm that can trump human intuition. The “data vs. intuition” debate also popped up in multiple sessions at last month’s Advertising Week in New Y ...