transcript
- 1. HARVARD BUSINESS REVIEW ARTICLE ADVERTISING ANALYTICS
2.0
- 2. EVERYTHING IS INTER- CONNECTED View a tv spot- google
search- reads on websites- watches youtube ads- sees a billboard
not noticed before- receives a direct mail
- 3. PAST PICTURE- FUZZY MIXED MEDIA MODELING A LOW HANGING FRUIT
THAT WILL NOT HELP ANYMORE
- 4. REDUNDANT TECHINIQUES TIME-HONORED MEASUREMENT TECHNIQUES 1.
CONSUMER SURVEYS 2. FOCUS GROUPS 3. LAST-CLICK ATTRIBUTION
SWIM-LANE MEASUREMENT DIFFERENT TEAMS USING DIFFERENT METHODS OF
MEASUREMENT AND COMPETING FOR SAME RESOURCES
- 5. DATA DELUGE Every day, three times per second, we produce
the equivalent of the amount of data that the Library of Congress
has in its entire print collection. Most of it isirrelevant noise.
So unless you have good techniques for filtering and processing the
information, youre going to get into trouble.
- 6. HOW TO INTERPRET THE DATA Using pioneering mathematical
models to quantify cross-media and cross-channel effects of
marketing, as well as direct and indirect effects of all business
drivers, and the software employs cloud-computing and big- data
capabilities
- 7. THE MOVE TO 2.0 A 3 STEP APPROACH
- 8. 1. ATTRIBUTION To determine how your advertising activities
interact to drive purchases, start by gathering data.
- 9. FOCUS ON THE SIGNAL, NOT THE NOISE
- 10. WHAT IS NEEDED ? To accurately model their businesses,
companies must collect data across five broad categories: market
conditions competitive activities marketing actions, consumer
response business outcomes
- 11. ASSIST RATE IDENTIFICATION With detailed data that parse
product sales and advertising metrics by medium and location,
sophisticated analytics can reveal the impact of marketing
activities across swim. We call these indirect effects assist
rates. THIS HELPS IN OVERCOMING SWIMLANE MEASUREMENT
- 12. 2. OPTIMISATION
- 13. WAR GAMING Once a marketer has quantified the relative
contribution of each component of its marketing activities and the
influence of important exogenous factors, war gaming is the next
step
- 14. WHAT IS IT? It involves using predictive-analytics tools to
run scenarios for business planning. Maybe you want to know what
will happen to your revenue if you cut outdoor display advertising
for a certain product line by 10% in San Diegoor if you shift 15%
of your product-related TV ad spending to online search and
display.
- 15. USING ELASTICITIES Knowing the elasticities of your
business drivers helps you predict how specific changes you make
will influence particular outcomes. If your TV ads elasticity in
relation to sales is .03, for example, doubling your TV ad budget
will yield a 3% lift in sales, when all other variables remain
constant.
- 16. 3. ALLOCATION Allocation involves putting the results of
your attribution and war-gaming efforts into the market, measuring
outcomes, validating models (that is, running in-market experiments
to confirm the findings of an analysis), and making course
corrections.
- 17. MORE SPONTANEOUS Marketers can now readily adjust or
allocate advertising in different markets on a monthly, weekly, or
daily basisand, online, even from one fraction of a second to the
next.
- 18. HOW TO GO ABOUT 2.0 A 5 STEP IMPLEMENTATION FOR SMALL
COMPANIES
- 19. 1. First, embrace analytics 2.0 as an organization- wide
effort that must be championed by a C-level executive sponsor.
- 20. 2 Second, assign an analytics-minded director or manager to
become the point person for the effort
- 21. 3 Third, armed with a prioritized list of questions you
seek to answer, conduct an inventory of data throughout the
organization
- 22. 4 Fourth, start small with proofs of concept involving a
particular line of business, geography, or product group. Build
limited-scope models that aim to achieve early wins.
- 23. 5 Fifth, test aggressively and feed the results back into
the model
- 24. THANK YOU Created by Parul Chauhan, LSR Delhi,during an
internship by prof. Sameer Mathur, IIM Lucknow
www.IIMInternship.com
- 25. CREDITS http://www.backdoorsurvival.com/wp-
content/uploads/2014/08/oldfashioned.jpg
https://simonjharris.files.wordpress.com/2014/01/i ot1.png?w=800
http://tech.co/wp- content/uploads/2013/07/TooMuchSignalMarketin
gNoise.jpg http://m.c.lnkd.licdn.com/mpr/mpr/p/1/005/072/19
c/12e276a.jpg