Download - Every CMO Can Get Big Value from Big Data
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Every CMO Can GetBig Value from Big Data
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CMOs Need Better Answers ASAP
“Marketing is the last bastion of unaccountable spending.” - Eric Schmidt, Google
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Big Data: It’s Big and It’s Everywhere… But is It “The Answer?”
72 hours
of video added to YouTube
every minute
1.4+ trillion
digital interactions per month
30+ billion
pieces of Facebook content
per month
40% growth
in data generated each
year
92%of the world’s
data created in the past two
years
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What Has to Happen to Realize the Promise? How’s It Going?
Data
Information
Results
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What Has to Happen to Realize the Promise? How’s It Going?
Data
Information
ResultsA miracle
occurs
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What Has to Happen to Realize the Promise? How’s It Going?
Data
Information
ResultsA miracle
occurs
Another miracle occurs
80%of marketing executives
are still looking for the value in big data
(Pitney Bowes, January 2013)
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How Are Organizations Getting Value from Big Data Now?
of top performing organizations cite revenue generation as the chief value from applying big data and analytics.
- IBM study
75%
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Marketing Budgets Aren’t Well-Optimized Today
85%of line item budgets
are not optimal
28%average potential
increase in marketing-driven sales
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How Do You Realize the Greatest Value from Big Data?
Focus on consumers
Becomeagile
marketers
Use it for strategy, not just tactics
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Big Data Can Give CMOs the Answers That Make a Big Difference
• What size budget do we need?• How do we best allocate our budget?• How do we efficiently reach the
consumer groups we target?• Which tactics really drive results?• What is our real ROI on each tactic? • Can we forecast more accurately?• What are the long-term effects?
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Leading Travel Co. Improves Results with ThinkVine Optimization
Goals• Achieve annual revenue target by identify the best mix for changing consumer
behavior• Establish an ongoing optimization cycle
4%Increase in revenue,
exceeding the target, and transitioned from an annual
to agile planning process
33% Increase in the
marketing budget with a more effective mix
Actions & Results
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The Value of the “Vs” Varies
Volume improves resolution
20X…and
Velocity does it quickly
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The Value of the “Vs” Varies
Volume improves resolution
20X…and
Velocity does it quickly
Variety provides valuable additional information
and Veracity is required for action
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There Are Many Types of Big Data
The Obvious• Web traffic & E-commerce data• Social media data• Customer/CRM/Loyalty data• Marketing Automation data• Sales channel data• Price & Promotion data• Operational data
The Not-So-Obvious• Market/category data• Market & consumer research data• Behavioral data• Cost & Financial data• Plans & “As Executed” data• Forecasts & Simulations
VVVV
Volume Velocity
Variety Veracity
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Velocity
Like People, Different “V”s Have Different Strengths
A/B testing, campaign optimization
Personalization,real-time buying
Planning/external focus, consumer targeting
Provides confidence across decisions
Variety
Volume
Veracity
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How Do You Realize the Greatest Value from Big Data?
Focus on consumers
Becomeagile
marketers
Use it for strategy, not just tactics
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Different Tactics Connect with Different Consumers
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target by group
engage by person
Use Big Data to
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When targetingnot “path”think “set”
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How Do You Realize the Greatest Value from Big Data?
Focus on consumers
Becomeagile
marketers
Use it for strategy, not just tactics
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Which One of These Things is Not Like the Other?
Marketing Automation Ad Buying
Operating MetricsMarketing Mix & Planning
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UnderstandROI of All Marketing
IdentifyKey
Objectives
Discover Optimal Budget Level
Create Plans
Simulate & Forecast
Execute & Evaluate Results
Agile Marketing Planning and Optimization
• Starts with your marketing goals and objectives
• Covers the full cycle• Integrates all marketing• Is objective (data-driven)• Includes analytics that:• Embrace complexity• Look forward and back• Easily translate to action
• Provides workflow not just numbers
• Automates for speed and consistency
• Preserves knowledge
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Lifestyle Retail Brand Success Story
Goals• Improve the return on marketing by more efficiently reaching targets• Identify the right timing of marketing to maximize holiday and off-season sales
5%Increase in total sales over the non-optimized plan by changing
both mix and flighting
25% Of budget reallocated from
catalogs to retargeted display and unbranded search
Actions & Results
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More Actionable
Consumer-focusedUnrivaled granularity
More Accurate
Attribution for all marketingForecasts within 1-2%
More Agile
Any marketer anytime Collaborative workflow
ThinkVine is Transforming Marketing Mix to Improve Results
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ThinkVine’s Integrated MMO Solution is “Sim City for CMOs”
• Software-based marketplace where simulated people consume media and purchase products the way real people do• Delivers historical attribution, enables consumer targeting, forecasts sales• Includes all off- and on-line media, other marketing and external factors• Gives marketers the choice of “What If?” or “Easy Button” optimization
Sales Forecasts“What If?” Plans Simulated Marketplace
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Targets
External Factors Copy Quality Geographies
ThinkVine Customers Can Pull Many Levers and Get Granular Info
26
Timing
Spend Distribution Price
Tactics
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How Do You Realize the Greatest Value from Big Data?
Focus on consumers
Becomeagile
marketers
Use it for strategy, not just tactics
By applying the right data, analytics and technology, brands have seen a 28% average increase in marketing-driven sales.
- Study of ThinkVine customers
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ThinkVine's marketing mix optimization solution provides B2C marketers with the forward-looking information they need to maximize return across all of their marketing investments.
www.thinkvine.comMark Battaglia