businessonline on big data at ses chicago 2013
TRANSCRIPT
BIG DATA:How to gather, analyze & react…Drive Marketing ROI
@BOLoptimized
#SESCHI
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Why Big Data? Why now?
Pace of change…+ Companies: Large and small…
+ Industries: Old & young
+Customers: b2b, b2c, male or female, rich or poor…
+ Change, big change…
Greatest Company Asset…
Customer Relationship
Enterprise Value Paradigm
Not Produc
t
Not IP
Not Brand
Age of the Customer“Empowered buyers, disruptive digital
innovations…erase traditional competitive advantages…the next wave will come from
deep customer knowledge, engagement tied to the buyer's timing, and actions based on
an obsessive desire to deliver what your customers want before your nearest
competitor does.”
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I’m Thad Kahlow @Tkahlow
+ CEO BusinessOnline
+ 14 years Digital Marketing
+ B2B or High Consideration + B2B Magazine Interactive Agency year
+ Top Agency: 2008, 2009, 2010
Allow me to
Digress…
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CEOs operate in a substantially more “volatile, uncertain and complex world”-IBM Study, face-to-face conversations with more than 1,500 CEO’s worldwide.
CEO: New normal
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+Adopt new channels to engage & stay connected with customers.
+Draw more insight from data…make customer intimacy priority #1
By…Re-Invent Customer Relationships:
Solution
CEO
“78% CEOs believe #1 goal is to get closer to customer”-IBM Study, face-to-face conversations with more than 1,500 CEO’s worldwide.
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Deliver Value to Empower Customers+ Digital revolution- forever changed
balance of power between individual & institution
Foster Lasting Connections+ Cultivate meaningful relationships…
throughout entire life cycle
Capture Value, Measure Results+ Quantify, analyze and justify the financial
results of marketing initiatives
Solution
CMO
Simplify please…
Why Data?Why Attribution?
Why now?
Because…Customers
have control & fundamentals
have changed…
Barriers to entry are minimal,
competition can enter and win quickly…
Customer Relationships become our
largest asset
Data is introduction,
enabler & insight
Win withData
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Programs that efficiently and
effectively generate leads that turn into
sales…
Majority of marketers do not
know which programs produce the leads that turn
into sales.
The Primary
Marketing Challenge
yet
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Customer Journey
Validated Score
AttributePersonalize
Close the Loop
Close the Loop
AttributeSuccess
DriveBusinessOutcomes
More Effective Sales
Strategy Starts
Data Framework
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Customer Journey
Validated Score
Attribute
Personalize
Close the Loop
Close the Loop
AttributeSuccess
DriveBusinessOutcomes
More Effective Sales
Strategy Starts
Data Framework
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Collect Data
Company Buying Journey
“…companies are seeing an average
15-18% Lift in Revenue… As result of implementingclosed-loop & Optimizing”
- Tina Moffett, Attribution Analysts Forrester Research
Close the LoopStep 1
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Awareness
Engagement
Conversion
SALE
Awareness: PPC , SEO, Display, Social, Email…
Usage Engagement: Bounce, Page Views, Visits, Frequency
Content Engagement: Newsletters, Blogs, Videos, Webcasts, product pages
Conversion: Request a quote, contact, dealer locator,
initiated lead, completed lead, registration, #800
Measured in isolation:-Single Channel to Lead : CPL
-Silo Engagement: Avg page views
Common
Approach to Measurement
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Close the Loop
Marketing to Sales Outcomes
Attribute SuccessStep 2
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Single TouchAssigns 100%credit to the lastor first exposure
First/Last Touch
Rules-BasedAssigns credit to eachinteraction based on specific business rules
Even Weights Custom Weights Time Decay Positioned Based
Statistically DrivenAssigns credit to eachinteraction based on adata driven model
Regression Model Probabilistic Model
Type
Approach
100% DisplayE-Mail Search
33% 33% 33%
DisplayE-Mail Search
27% 49% 24%
Basic Advanced
Primary
Attribution Model Types
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Single Touch
Ignores the bulk of the customer journey, overvaluing the first or last touch
Undervalues other influencers (and interactions), including sales efforts
Rules-based
Assigns arbitrary values to each specific marketing tactic
Subjective and lacks analytics rigor to determine weights
Statistically Driven
Can be expensive to execute
Some Marketers feel uncomfortable with an algorithmic, “black box” approach
Type
Pitfall
100%DisplayE-Mail Search
33% 33% 33%
DisplayE-Mail Search
27% 49% 24%
Basic Advanced
Model
Pitfalls
Validated Engagement Factors(Validated Attribution)
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VEF
Historical (validated) review of past behavior… to improve future outcomes:
Validated Engagement Factor
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+ Close the Loop: Data house in order: web activity + marketing automation + CRM (sale) in DWH
Closed Loop
Path to Success+ Determine path to success: what did prospects do before they became clients?
+Aggregate past 50+ clients- create statistically significant = validated
Validated Engagement Factors
Validated Attribution
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+ Normalize: + Analyze prospect engagement activity over 1- 24/mo+ Create a Normalized engagement score = 100 (mean).+ Lead engagement scores > 100 Score =
+ “demonstrating sales likelihood behavior”
+ Analyze for Insights: Prospects actively in the funnel
+ Engage: Get Personal+ Content personalization, + $ remarket, + click to chat+ Sales contact
Video
Engagement Factor Score
Validated Engagement Factors
Validated Attribution
Company Attribution
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+Typically measured @ individual level
+KNOW B2B process is in groups (11 roles)
+Every known lead, we can have 10+ unknown visitors
+View opportunities at the aggregate company level
Attribution Video
Company Attribution
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7 visitors vs. 173 visitors= +17,200%
For all Marketers- give us our true credit”
Example
Individual vs. Company
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0
200
400
600
800
1000
1200
1400
1600
1800
Month 1 Mo. 2 Mo. 3 Mo. 4 Mo. 5 Mo. 6
Analysts
Marketing
IT Team
C-Level
Engagement Score
Most of these stakeholders were anonymous
B2B Sales Funnel
Stakeholders in Buying Process
Drive Business OutcomesStep 3
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General experience Personal experience Convert Increase sales
SALE
Create a Tailored Experience
Personalize+ Serve the Right :
Experience, Message, Content+ To the Right Person
+ In the Right: Role, & Industry+ At the Right time
+ On the right device+ Based on past success (Validated)
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Unbridled opportunity to Personalize
Amazon for B2B/High Consideration
+ Someone in your vertical
+ Someone in your role
+ At this stage of research
+ Looking for to solve this problem
+ Has found this piece of information valuable
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Future…
Predictive Modeling
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Thank You
Data Education
+ Data Maturity Model
+ White Paper: Closed Loop Marketing Attribution
+ Webinar: Close the Sales & Marketing Loop
@tkahlow
@BOLoptimized