DMA: Creating a Data Culture | 3 November 2016

Pipa Unsworth @peepa @verveiq

AGENCIESWe work with digital, integrated and media agencies looking to create or upgrade their customer engagement and CRM capabilities.

BRANDSWe work with innovative brands looking to transform their business and modernise their CX/CRM strategy and data-driven marketing activities.

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STARTUPSWe work with pioneering, early-stage companies that are seeking to find their product-market fit, engage with their audience and scale their business.

VerveIQ is strategic growth consultancy that helps brands, agencies and startups build meaningful propositions and valuable relationships that deliver sustainable growth.

www.verveiq.com

The most significant culture shift today for marketing teams is adopting a data-driven marketing approach.

Companies may be thinking differently about their data but are they acting differently based on what the data is telling them?

We’ll spend the next 20 mins looking at different approaches to building a data-driven culture and how agencies, brands and start-ups can all learn from each other.

DATA CULTURES: AGENCIES, BRANDS & STARTUPS

CREATING A DATA-DRIVEN CULTURE

THE STATE OF PLAYMany marketers admit their firms has yet to fully embrace the ‘criticality of data’:

§ 35% have a data strategy in place - but it is not embraced by the entire team

§ 23% said that no strategy exists at all

§ 43% have yet to fully embrace data as a critical operational requirement

§ 43% said it was too hard to get the entire organization to agree on a data strategySource: http://www.fiercecmo.com/data-analytics/23-businesses-lack-data-centric-marketing-strategy

Sour e: http://www.forbes.com/sites/emc/2014/06/06/5-steps-to-a-data-driven-culture

Limited access to data

Difficulties in performing analysis

Lengthy delays inherent in their analytic systems

Data is siloed in multiple departments

Many tools used to generate insights are not intuitive

Insights are often delivered too late, reducing their value

TYPICAL CHALLENGES

WHY BOTHER?

Source: http://www.forbes.com/sites/emc/2014/06/06/5-steps-to-a-data-driven-culture

Revenueyear-on-year increase

Efficiencyprocess cycle times

Costsreduced operating expenses

27% 83% 12%

7% 39% 1%

WHAT DOES GOOD LOOK LIKE?

Data-driven have several things in common:

1. Data-oriented mindsets and to processes to support (and use) KPIs

2. Data is up-to-date, organised and centralised

3. Formal policies that govern data access

4. Data access is widely available but layered

5. Analytics are integrated into innovative and intuitive tools

* Better employee understanding of the value of data & how to apply it to decision-making

* Widespread commitment to backing up ideas with data & measuring outcomes

Source: http://www.forbes.com/sites/emc/2014/06/06/5-steps-to-a-data-driven-culture

Source: http://www.ngdata.com/creating-a-data-driven-culture

“NOT EVERYTHING THAT CAN BE COUNTED COUNTS. AND NOT EVERYTHING THAT COUNTS CAN BE COUNTED.”

Albert Einstein

AGENCIES

Winning new clients

Growing client revenues

Managing costs

BRANDS

Digital transformation

Customer experience

Unified customer view

STARTUPS

Getting traction

Getting growth

Getting investment

AGENCIES

Winning new clients

Data as a differentiator

Make it easy (product vs bespoke)

Use stories to convey data insights

Growing client revenues

Provide dashboards as partof account management

Platform + People

Add value through benchmarks

Better work

Humanise the data toinform the creative brief

Project/campaignpost-mortems

Shared learnings

BRANDS

Digital transformation

Using data to changethe status quo

KPIs shared acrossthe business

Widespread access to intuitive information

Customer experience

Use data to break down silos

Reward collaboration

Drive results from data(personalisation)

Unified customer view

Invest in the right tools, process and people

Standardise taxonomies

Appoint data champions

STARTUPS

Soure:

Getting traction

Data vs. gut instincts

Build in trackingfrom the start

Automate reporting(real time dashboards)

Getting growth

Actionable insights

Justify product development & prioritise roadmap

Keep growing team focused on performance

Getting investment

Know your numbers

Solid business case

Model growth scenariosand ROI

LEARNINGS

#1 A data culture leverages an organisation’s two greatest assets; its people and its data.

#2 Focus on data that supports decision-making and improving performance.

#3 Humanise the data. People always want to know, “What does this mean for me?”

#4 Find quick wins and champions to get buy-in and demonstrate value.

#5 Visualisation goes a long way. So does automation.

#6 Be patient; culture change takes time.

@peepa @verveiq

https://uk.linkedin.com/in/pipaunsworth

pipa@verveiq.com