Posts tagged "Data"

Making data readable

john-batesJohn Bates, Senior Product Manager, Predictive Analytics, Adobe Systems

 

 

 

In 1450 Johannes Gutenberg invented the movable type printing press. The advent of this marvelous mechanical device led to a sharing of general knowledge that had not been seen in the world until that time. Until that point in history only governments, churches and the rich could afford the knowledge that books provided. Suddenly, owning a book was within everyone’s reach. Arguably, having the ability to compile and share knowledge on a larger scale altered Western culture forever. It wasn’t until Melvin Dewy devised his decimal system in 1876 that a system for keeping up with all of these books was standardized; 425 years after books began to become available to everyone.

What does that have to do with Analytics? There are several correlations between Europe after the advent of the printing press and marketing today. The common person in Europe could neither read nor write, the resources were not readily available to the average person. The same could be said for data in today’s world. With the advent of analytics more information is available in a very pure way, but much like reading and writing during the era prior to the Renaissance, there are not enough people who can understand and utilize the data provided. Luckily, no one will have to wait 425 years for a standardized way to organize and understand the data that is so readily available.

Imagine walking into the world’s biggest library and, without the Dewy Decimal System, you have to find several books for a report. It could be done, but not easily, and not productively. Big data presents many of the same challenges to those who do not have the knowledge or a guide to help them reach their goals. Through the use of Adobe’s analytics solution and application of our marketing maturity model and a little coaching it is possible for anyone to:

  • Identify anomalies and know how to interpret and apply the knowledge gained from them.
  • Explore relevant data patterns to replicate success or avoid disaster, streamline business, and make your company more agile than ever.
  • Gain an understanding of how customers leverage Adobe Digital Marketing Cloud to drive even greater success.

Going back to the world’s biggest library, most of you have piles and piles of data that you collect and keep. Big Data contains vast amounts of information about customers, products, and habits that can help you sell advertising, build better customer relationships, or prevent subscription cancellations. Learn how easy it is to identify anomalies, explore relevant data patterns, build audience clustering models, score each customer on their likelihood to complete an action, and optimize your marketing.

The Adobe Digital Marketing Symposium is taking place today at Sydney – follow the conversation via #AdobeSymp

Confessions of a marketer – the truth is out

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For those of us who work in marketing day-to-day, there’s no denying that so much has changed. But many of our CMOs and industry peers just haven’t kept up. Do you agree?

We took to the internet to ask marketers across Asia Pacific (APAC) what really goes on in their organisations and here are some of the results:

  • 54% of APAC marketing leaders base decisions on what management wants, rather than data
  • 39% of marketers believe their team is not aligned with all the business functions, including IT, customer service, and operations, to drive digital programs.
  • 64% of APAC marketing leaders value digital results over traditional metrics
  • 47% of APAC marketing leaders claim to embrace social, but someone tweets on their behalf.
  • 70% of CEO’s believe digital and social can deliver business transformation.

It seems that although many marketing leaders value digital, they are still holding back and afraid to take the full leap forward. Many are still guilty of following top management decisions rather than adjusting their marketing efforts based on the data as well as claiming to embrace social but rely on others (probably an agency) to tweet on their behalf.

Here are some of the other things marketers had to say:

  • “1. The results from digital programs cannot convince management that they may need to invest more. Although feedback and results say otherwise. 2. ROI and Sales are still the main indicators.”
  • “There are times when ’conventional wisdom’, ’what the founders / investors prefer’, and ’quick fixes’ take over from decisions based on data and facts.”
  • “There is a great interest in digital at C-level thanks to social media. But on the other hand, very few marketers are trained in it or know how to use it to deliver campaigns and metrics in the right way to the C-level audience within companies. Currently the drive to show ROI has made marketers show analytics based on random apophenia rather than quality gains from marketing which are actually a mix of quantitative and qualitative metrics rather than a numbers game alone.”
  • “The cost ratios of digital marketing are attractive to senior management in a company. However, the real question is whether non marketers truly understand and buy into the value (as opposed to cost savings) that it brings. The process of internal education remains an important component of the mix.”
  • “When metrics are still based on traditional marketing, numbers generated by digital activities cannot be accurately tracked and taken into account.”

The majority of marketers agree there is an interest in digital by senior management but generally there is also a lack of understanding and skill on how to leverage it. The power of digital is endless and companies which adopt digital marketing into their overall strategy will have a better idea of their customers and how to engage with them, all in real time.

Looking to drive your company’s digital transformation or improve your digital marketing strategy? Attend Asia Pacific’s most anticipated digital marketing gigs of the year – Adobe Digital Marketing Symposium. Register now to attend the Sydney Symposium on the 22 July and Singapore Symposium on the 24 July where marketing experts and innovators will share the latest digital marketing know-how.

Data Management Platforms: Your Audience Matters

scott-thomsonScott Thomson, Senior Manager Industry Strategy APAC, Adobe Systems 

DMPs

Data management platforms, or DMPs, promise to be an enabling audience engine for digital ad technology and content personalization. But given all the hype around them, what can and can’t they do? What should you look for in a DMP?

Firstly, DMPs need to support easy ingestion and normalization of data from multiple sources in a secure and privacy compliant manner. Not only the myriad of internal (1st Party) data sources such as your data warehouse, CRM & onsite analytics but also a vast array of ad tech partners such as premium publishers (often referred to as 2nd Party) and other partner enterprises and data suppliers (3rd Party).

Secondly, DMPs need to be able to manage insights derived from audience activity and targeting to audiences. Based on a predefined set of audiences, DMPs need to be able to intuit look-a-like audiences and also allow the predefined audiences models to evolve as new data is on-boarded, especially in near real time.

Thirdly, and most critically, DMPs need to support integrations to multiple channels and many partners within those channels and they need to maintain the highest possible audience match rates with those partners.

DMPs aren’t just a cloud based data mart. They maintain ongoing, best practice integrations with tens or hundreds of other partners and in doing so they manage all the legal relationships & operational costs those integration incur to maintain.

DMPs also maintain the greatest audience match rates to those partners. If your partner DMP has a low match rate, say 30%, it means only 30% of the audience you worked to long and hard to create is going to be matched.

When done right, a data management platform can be the key stone of your digital marketing program – finally allowing marketers to lead with a customer-centric, rather than channel-centric, approach to marketing.

Join me at the Adobe Digital Marketing Symposium 2014 in Sydney and Singapore where I’ll cover more on what DMPs can and can’t do, how they fit into the digital advertising and personalization ecosystems and what are the best practices for deploying and managing a DMP.

Power to the Marketer!

Srihari Palangala, Senior Marketing Manager Digital Media, Adobe India – LinkedIn

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Every single opportunity to listen to the customer and market delivers more power to the marketer.  The digital era provides a choice of open and direct customer listening possibilities. Because of this, the next decade is an absolutely great time to be a marketer. Digital avenues and technology will allow marketers to play increasing strategic roles – helping script moves that have manifold impact on the business. More importantly, data and technology make it easier for marketers to move away from a purely tactical view and engagement – not to imply that tactical is not just as important by any means!

Here are three specific areas where I see technology and digital outreach providing more power to the marketer:

1)      Marketers can scale volumes of business data more easily - If you are reaching consumers with your product or service, then you can target (create awareness), deliver the right message (drive interest) and fulfill consumer purchase transactions online. Marketers in this case, such as in the FMCG world, play a key role in driving business – while firmly in the driver’s seat.

On the other hand, if you are marketing to businesses (SMBs or Enterprises), then you can drive inbound interest from influencers/decision makers. When coupled with good CRM systems, digital marketing can help you monitor conversion and sales funnels better. As you understand your conversion funnel you can have funnel metrics-driven marketing programs. I’ve talked about elements of digital marketing in this slide deck.

2)      Marketers can focus on profitable business customers and on margin contribution – With digital outreach you can closely measure and constantly drive down the customer acquisition costs (variable costs). As you acquire customers, you can also track and measure the ‘quality’ of the customer and constantly target to pursue profitable (and returning) customers. Finally you can observe and track life-time value of customers and run targeted activities to keep customer engagement and retention high.

3)      Marketers can embrace the Internet to scale distribution and reach – Search, social and mobile has transformed the Internet experience for everyone. The number of people a marketer can potentially reach with technology today is astounding — about 40% of the world population has access to the Internet: ~10% through fixed broadband and ~30% through mobile broadband. And people are spending an increasing amount of time online. Digital allows us to quickly determine which marketing channels are working, and if they are not then we can fail fast and switch to more effective approaches. And as we see pilot campaigns delivering results, they can be potentially scaled up. Technology also allows us to look at effective ways to bring offline and online together on marketing campaigns.

The above said, from a practitioner perspective there is a lot of data to handle, digest and rationalize to be successful. This can be a daunting task – but nobody said that coming to terms with the new “marketer power” was going to be easy!

APAC Digital Marketing Performance Dashboard 2013: Content & Data

In this episode of the APAC Digital Marketing Performance Dashboard 2013 video series, Paul Robson from Adobe and Liz Miller from the CMO Council discuss the the importance of content and data for marketers.

Interested to find out more about APAC Digital Marketing Performance Dashboard 2013? Check out the links below:

Download the complimentary executive summary

View the Digital Dashboard Infographic

Follow the latest on twitter via #APDash