Competing on Marketing Analytics
Interested in Marketing Analytics? Excellent! Find here all you need to know!
Why
Analytics solves numerous marketing challenges, and at its best, it transforms Marketing into a competitive advantage.
Where
Marketing Analytics is a profession with many areas of specialization. Prioritize where it delivers biggest impact for your business.
What
Understand drivers of performance. Identify opportunities for optimization. Foresee what will happen. Analytics in action.
How
Technologies. Statistics. Programming languages. Domain knowledge. Agile way of working. Skill set to put Analytics to work.
Why
Companies pursue different strategies to win and retain customers and stay ahead of competition.
In today’s data-rich world, more and more companies build their business model on their ability to collect, analyze, and act on data. They have become an analytics competitor.
For these companies, analytics is a central part of their competitive strategy. Where analytics is pushed down to decision makers at every level. Where decision making is supported by best evidence and quantitative tools.
Analytics solves numerous marketing challenges, but at its best, it transforms Marketing into a competitive advantage.
Marketing Analytics Impact Wheel
Where
Where is future demand going? What is driving brand strength? What is most promising brand positioning? What segments should be prioritized? What is optimal marketing budget to drive growth?
Brand growth is the results of making more right decisions than wrong ones. Strategic and tactical decisions. Day in, day out.
Marketing analytics offer a wide range of solutions that inform and support decision making from strategy development to marketing activation.
Marketeers leverage analytics to optimize marketing ROI, improve messaging and content, predict consumer behavior, strengthen customer relationship through personalization, and gain deep understanding of how competitive landscape is developing.
In addition to support decision making, end-to-end analytics can make marketeers life easier and save time in providing insights at the right time, at the right place.
Marketing Analytics Applications
What
Analytics come in different shape and form, supporting businesses to navigate through the future. Understanding what happens today informs what to do in the future. Smart analytics show what happens, and uncover the WYH behind that WHAT.
But the real power of analytics unleashes with helping to foresee what is likely to happen in the future. And simulate possible outcomes.
The power of analytics comes with a price. Enhancing capabilities towards predictive and prescriptive analytics is generally more complex, more demanding.
What role does human intelligence play? It’s a prerequisite to develop and implement analytics. But once up and running, some analytics solutions require less to none human intervention to turn analytics into action.
Marketing Analytics Impact Chain
How
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Marketing Analytics Enablers