What's Next: The Value of Data

Click here to load reader

download What's Next: The Value of Data

of 41

  • date post

    21-Jan-2018
  • Category

    Marketing

  • view

    41
  • download

    1

Embed Size (px)

Transcript of What's Next: The Value of Data

  1. 1. Powered by The value of data
  2. 2. Hello! Rob Blackie Consultant OgilvyRED Leila Seith Hassan Head of Analytics OgilvyOne Frank Duck Data Strategy Director Ogilvy
  3. 3. Whats the weather like in your city? Tell us where youre dialling in from!
  4. 4. Want this deck? It will be available for download shortly after the webinar on: slideshare.net/socialogilvy Ogilvy staff: Its also on The Market! themarket.ogilvy.com Are you on the go? You can join our webinars on mobile, too! Download the GoToWebinar app from the App Store or GooglePlay
  5. 5. Housekeeping news! More people are joining our webinars than ever before! So from next week, we will be using zoom.us instead of GoToWebinar to give you a better overall experience. It's a similar set up, but better quality - and you can still ask questions and participate in polls. You may need to download the app, but only once. Just follow your registration link to the session as usual. We look forward to seeing you next week!
  6. 6. One The value of data
  7. 7. The worlds most valuable resource is no longer oil, but data The Economist, 2017
  8. 8. NUMBER OF INTERACTIONS, PER PERSON, PER DAY Big Data AI
  9. 9. 80%of data is dark and untouched SAS, 2017
  10. 10. But when it comes to data, dont just do it. Do it with purpose
  11. 11. Insight Journeys Experiences Performance Whats its purpose
  12. 12. Fluid Trustworthy Safe Welcoming Adaptable Humanised Legal But also needs to be
  13. 13. Information is not Insight
  14. 14. Data doesnt create meaning, we do Susan Etlinger
  15. 15. Insight is not Data in isolation An Observation - This is merely a Fact A Consumer Need State Uncover the overt OUTCOME or required ACTION Ask the WHY look for the MOTIVATION WHAT is the Driver? An Insight is not:
  16. 16. A previously unknown human truth A new view of the world, breaking existing conventions and challenging the status quo An observation of a consumer behaviour that jolts us to see them from a new perspective Uncovering the underlying motivations that drive a given consumer behaviour At Ogilvy we dene an Insight as 1 2 3 4
  17. 17. It elicits an emotional connection with your consumers A new view of the world, breaking existing conventions and challenging the status quo Unlocks a new audience to drive customer acquisition and sales growth It uncovers the underlying motivations that drive a given consumer behaviour Provides a clear statement of what to do next for your customers A powerful platform for creative ideation You have uncovered a valuable insight if 1 2 3 4 5 6
  18. 18. One Data driven insight in practise: 3 Guiding Principles 1. 2. 3. Define a business objective OR a Hypothesis Data Source Assessment: Availability, Relevancy, Depth Define the Data Output
  19. 19. Who are my most valuable customers? How can I re-engage a dormant segment of my database? What are the emerging cultural trends influencing consumer behaviour in my category? What is the optimum contact strategy for driving incremental revenue from existing customers? How do we drive customer acquisition, is there untapped audience segment? 1. A clear set of objectives or hypotheses
  20. 20. Owned Commissioned Research Public Data Partners/Market/ SalesData Customer Database Customer Transactions Marketing Engagement Business Data www Social Conversations News Qualitative Focus Ethnographic Consultancy Social Listenig Behaviours 2. Hunt and mine the most relevant data source(s)
  21. 21. Customer Personas Customer & Market Segmentation The CFM proler !The CFM proler ! Customer Database Audit: Understand your customers Measurement Framework! Measurement & Evaluation Dashboards Data Modelling: RFM, Propensity, Churn, Acquisition 360 Experience Mapping Strategy development: Contact, Media, Datacapture, Experience Human insights to feed Creative Ideation 3. Data outputs
  22. 22. applymagicsauce. Insights can change the world
  23. 23. Word of caution
  24. 24. Using data to drive experiences, personalisation and, relationships
  25. 25. An old saying Its more important to reach the people that count than to count the people you reach
  26. 26. Today this might translate to Relevant communications deliver enhances personal customer experiences
  27. 27. Yet still too many companies have a default Delivering mass market communications across channels with little thought of how the target audience respond, feel or experience
  28. 28. ( )RELEVANCE +TIMELINESS+LOCATION VALUE = TRUST LOSS OF PRIVACY We need to be personal
  29. 29. ROI KPI Insight Prioritise Personalise Precision Potential Value ROI Risk Segment Interest Location Attitudes Optimise Channel Channel Preference Optimise Journey Timing Performance The 3 Ps
  30. 30. Define Ambition Identify & Understand Audiences Develop Strategy Generate Ideas Prototype & Iterate Design Experience Produce Assets Distribute Content Optimize Performance DATA INSIGHTS & DATA FUEL TECHNOLOGY, PLATFORMS & PARTNERS Create RealiseThink Which fuels the
  31. 31. INSERT THE BATTERSEA DOGS HOME DIFFERENT USE OF DATA
  32. 32. 32
  33. 33. Measurement and Optimisation
  34. 34. Start small, think big and, evolve Define your objectives KPIs, diagnostics and apples Insights vs. Observations Tagging 101 Where do you start?
  35. 35. KPI and diagnostic metrics aligned to marketing objectives Benchmarks Qualitative explanations of x on y Bespoke metrics aligned to strategy Basic A/Bn testing Apple-to-apples comparisons across agencies / platforms Metrics by platform silo Standardised metrics in platforms Explicitly tie back to business goals Scenario analysis; if x is switched off, what is the impact to the eco-system y? Test segments, test scenarios and test targeting L E V E L 1 L E V E L 2 L E V E L 3 Measure something Strategic Measurement Advanced analytics: beyond measurement Build over time
  36. 36. Business: What does the business need to achieve? - Long term, complex measurement, longitudinal analysis - Larger goals, simplified statements Marketing: What does the marketing / communications activity need to achieve? - Audience and segment specific - Tactical in nature - What can we impact as part of the business goal Data and Measurement: What are you using data and analytics for? - What should the analyst being giving to the marketers to meet 1 and 2 above - What do I need to optimise my activity - What should I test 36 Define objectives 1 2 3
  37. 37. KPI Diagnostic Explicitly tied to objectives Explicitly tied to the KPI Demonstrates aggregate success / failure Tells you why a KPI performed / underperformed Set targets No targets Benchmark against historical & industry No benchmarks KPI = FINITE, ONLY A FEW VS. DIAGNOSTICS = INFINITE AND MANY 37 Tie objectives to KPI & Diagnostics
  38. 38. URLS ARE TAGGED SO WE CAN TRACE ACTIVITY BACK TO EVERY PARAMETER OF THE CAMPAIGN. THE BETTER WE TAG OUR URLS, THE MORE INFORMATION WE HAVE TO PROVE WHAT WORKED (AND DIDNT) What do you need to know: 1. What source did our visit/event come from? (social / .com / media / PR) 2. Was this Paid, Owned or Earned? 3. What creative (content) was used? 4. What campaign was this visit/event associated with? 5. How many leads did this campaign generate? 38 ogilvylondon.co.uk?utm_source=data&utm_medium=webinar&utm_campaign=whats_next&utm_term=taggins&utm_content=google_url_tag ogilvylondon.co.uk?data_webinar_whats_next_taggins_google_url_tag ogilvylondon.co.uk?123_ABC Google Adobe Analytics Tag your KPI and Campaigns
  39. 39. OBSERVATION Fact(s) demonstrated through data points. Often used in multiples. INSIGHT (JUST AS IMPORTANT HERE) A mental judgment based on observations, they cannot be observed, they must be inferred ACTION The (strategic, creative, media, audience) change you need to make to improve your business Mums stay on the site < 1minute but category average is 3.42minutes Only 0.25% of mums use on site search Online purchase volumes is 29% lower than goal Mums cant find what theyre looking for so they leave Search button Move search to top of page, allowing mums to navigate to what theyre looking for Require insights, not just observations and do something with them.
  40. 40. Just having data isnt valuable You need to be able to get meaning, by creating insights, for it to become valuable Have a purpose, using data for the sake of using data can get creepy Data doesnt need to be hard, complex or complicated Knowing the impact of your work is good, improving what you do because of what you know is better Remember .
  41. 41. Questions? Rob Blackie Consultant OgilvyRED Leila Seith Hassan Head of Analytics OgilvyOne Frank Duck Data Strategy Director Ogilvy