Live notetaking at #IMD16 in chicago. Any errors are my own.
Marketing for MR: What we’ve learned from GRIT, Our clients, and our own marketing by Lauren Tilden and Lukas Pospichal
- GreenBook mission is to connect researchers regardless of the size of the business
- What does GRIT tell us – GreenBook research industry trends, it’s for researchers, tell us where we are and where we are going, not being used to inform marketing for research company
- How do clients choose suppliers? [he shows a hurried tiny bar chart and laughs 🙂 ]
- Stated importance on GRIT says that relationships matter first, price is last
- Radio landscape map analysis chart – clustered different criteria for selecting suppliers, quality, experience, consultative skills
- For small budgets, price is important. But as you move to higher budget its more about quality and consultativeness
- Top 5 sources – seminars or conferences, industry websites, face to face events, webinars
- Clients don’t want to be sold to the second you meet them, get to know them first
- Find out what the company does first before you meet them
- Clients say – I want my research to change the decisions of my marketing executives
- Help your clients promote, distribute and present your research internally
- Develop templates, resources, processes for them, help them jointly deliver the results to other teams
- Good marketers have a plan, good marketers go easy on the sell, the second you start a. sales pitch on your webinar people drop out, good marketers have leaders who provide resources and staff, good marketers go where their clients are, not necessarily market research conferences, good marketers experiment
- Provide value and use it as a lead generation tool,
- Messaging should focus on a specific person, use real words, eliminate needless words, think about what you want people to do
- Tuesdays and Fridays at 9am work the best for them, figure out what times work best for your clients
- Use words like you, you’re, your, create a sense of urgency with words like last chance, or hint to a gift or something free
- Effective webinars are hot buttons or broadly interesting to many people
- Teach people something don’t sell, unless the webinar is advertised as a product demo or similar
- Be unique, or uniquely good
- Market the market research industry , don’t focus on the features of your company but rather on the benefits
- Yes or No how
- They get vendor recommendations from colleagues internally, check greenbook or quirks, or see who did a good piece of research, conference talks are a good place to find new ideas, watching webinars because there is not travel, vendors can recommend someone they trust maybe the person they lean on when they cant take a job
- Partner is someone they go back to again and again, give a five year contract without thinking twice, they will keep a spot open while waiting for a partner; a one time project is a vendor
- How does a vendor get to partner status, requires trust, lots of responsibility, by the tie vetting is completely done its almost like they are partners by then
- Like webinars with case studies, with companies they know and recognize, don’t really look for blogs and not fishing for content
- Emails without a hard sell are more compelling, want to hear about competitors
- Know what youre really good at, be aware of the clients business problems or ask them outright and describe your options for responding to it
- Bring a methodologist with you to a capabilities present, take the phone away because the client is more important than your phone
Live note taking at #IMD16 in chicago. Any errors are my own.
Panel: Strategies of successful research agencies, Gillian Carter, Ross McLeanr, and Arusha Sthanunsathan moderated by Lukas Pospichal
- Clients don’t know what they’re buying until they are fully on board
- Use client’s excitement to book speaking engagements, win win for them to shine among peers and the research company can share their expertise through the lense of a client
- Overcommunication helps to avoid problems, overshare until you’re told not to
- Daniel Kahneman – experience is measured by most intense positive, negatives, and the end, and these are averaged for an event, measure these points well
- Use the advantages available to you, whether you are small or large, stand up for what you believe in, smaller companies can react more quickly
- Best clients will often let you talk about them in sales meetings even if they don’t want you doing so at conferences
- Leverage client pride in your projects, find all the spaces where their work deserves to be showcased and help them become more publicly recognized, and hey mind doing a case study for us?
- Work hard to make your clients look smart to their superiors
- She gets big respect for being able to say the alphabet backwards really fast
- Should my company be a pokestop? Is this for business, what is my strategy? What is the right question to ask?
- You should be asking how do i do this.
- 200 million numbers are on the do not call list and 44% of direct mail is never opened [me and me]
- People aren’t watching commercials either so should we move commercials over to where people are watching now?
- The vehicle/channel is being discarded, consumer behavior is changing
- People watching changing behavior will win, if you uncover meaning in your own behavior you will win, create epic content and you will win
- Companies have changed from big media buys to social media buys but they haven’t changed what they’re offering
- People won’t tolerate impersonal messages anymore
- Consumers will no long tolerate companies that inconvenience you, “batteries not included” is no longer acceptable
- Make sure you can get to your own data, you need meaning of this data
- We don’t help our clients understand the outside world enough, we focus too much on inside data
- Your goal isn’t more facebook engagement, your goal is more clients. Potential clients need to find your facebook page, click on your fb CTA, and proceed down the sales funnel
- ABC – Always be closing, ABH – Always be helpful, is your service helping to make their day better
- You need to put your top people on content marketing, it’s not a job for interns [oh my, the worst blog posts come from people who are trying to fill word counts not create opinions]
- We let social media take us wherever it wants to go but you must have a strategy
Branding you: Sales tips for market researchers by Dan Rangel, Survox
- Join a few meetup groups, and maybe start your own, then you’re in a leadership role
- Consider putting your photo on your business cards
- Althways think about WHY should this person do business with me
- Show them the money, talk about ROI
- It’s not about you, always listen.
- Weekly project plans are important for the larger projects, let client see where the status is, what they will need to do, what you still need to do
- Nurture the human bond. Go to a baseball game, lots of fun, lots of talking time, and builds a good relationship
Live notetakeing at the #IMD16 conference in chicago. Any errors are my own.
No more eblasts: reimagining email for the modern subscriber by Monica Montesa, Aweber
- Email is not dead, it’s evolved into bigger and better
- Email shouldn’t be measured by how many subscribers you have
- Email is not just about making a sale
- IT’s time to embrace the human on the other end of the email
- Personalized email get a higher click though, 40% higher
- Not allowed to use the word eblast, feels one way and self serving, makes content seem like it’s for no one in particular
- Email is for more than just company news
- People prefer email communications over social media, but you must deliver value
- Broadcast email is a one time notice, maybe time sensitive, maybe promotions or discounts, share blog content, maybe include some user generated content like client stories
- Emails don’t have to be a sales pitch every time, newsletter can remind that you are a thought leader
- Consider auto-responders, welcome series that triggers for people who just signed up, include evergreen content with no time deadlines, include introduction to you and company, an ebook, contact information, an educational course
- A course doesn’t need to be a huge thing, maybe five emails positioned together
- Aim for quality not quantity for an email list
- List building tactics – set proper expectations, make sure signup form describes the content they will receive, engaging call to action, avoid boring words, offer an incentive to signup like an ebook or checklist or a free consultation
- Meet your audience where they are, promote your list on your social channels so you can control who sees it, consider ads to drive traffic to the signups
- Ebooks give a lot of value, Balance value with promotion
- Consideration – introduce your product as a solution
- Conversion – convince audience to sign up, don’t be shy about the sale, share testimonials, discounts and consultations work here
Putting your email marketing to work: generating and prequalifying leads at scale, by Ana Jacobsen, Drip from Leadpages
- Are you happy with your op-in rate?
- List growth is critical to business growth
- Is the opt-in on your website hidden? Do people have to hunt for it?
- Do you ONLY collect emails for your newsletter?
- It needs be on the homepage along with something valuable
- Welcome mat is very important, tell people why to opt-in, spotify uses it to generate users growth, uber takes over the first page for it
- SumoMe is free and recommended
- Pop-up or widget is also effective, can be irritating but done well can engage folks. Pinterest does this. L’Oreal does it also but they don’t say sign up for our list, they say sign up for free samples
- Landing page must stand alone and convince them to convert, no nav bars, no footer, no chat box, just design to get conversion – CARFAX, Oprah website – if there is only one button on the page it will get clicked
- Least obtrusive is the top bar on the website – HelloBar is free, works well on WordPress
- But an invite on blog posts, you know they have prequalified themselves as most interested, maybe even match the blog message to the invite message – DrIpForm
- How many white papers are on your hard drive, Ryan Dice is a great marketer, recommend following him, but how any of these white papers have you actually read, are people actually engaging with them?
- The case for campaigns – follow up every white paper download and see if people liked it, wanted to commend on it, or questions, follow up for a 4 week time period
- Subscribers should not get generic followups, interested visitors will fill out lots of data, can push people towards the right email followup
- Emails can link to your calendar where they can choose a time to speak with you, reminders stop for them but not for other people
Contented: Learn to love the art of creating relevant stuff by Susan Griffin, Brainjuicer
- Need to consider what you want to say and what clients want to hear
- Creating and sharing an asset that is helpful and informative, content has to tell your story, what makes your company te best resource
- Snail mail now email, travel books are now travel websites
- Need to apply your principles to your clients and yourselves
- Fluency – distinct assets used to recognize a brand act as a toolkit to build market share
- Fame – how readily a brand coe to mind predicts market share
- Have many touch pains – website, case studies, white papers, get individual items that work together
- Mark Earls, Herdmeister, a thought leader around social, we dont do anything by ourselves, light little fires and one of them start a big fire
- You can say you do conjoint and segmentation but you’re basically telling clients you sell wrenches and screwdrivers, you need to say you understand their needs, those tools aren’t distinctive
- Don’t be narcissistic brand, use product names that people recognize
- Marketoonist is great at this, cartoons are $35 and they are powerful story tellers
- If you’re going to do social media, do it seriously, don’t be the person with 8 followers and 3 tweets
- Figure out how to blog regularly even if it’s just a tiny share
- Relevant content comes in different sizes – a tweet, a white paper
- Recycling is good, you can share old articles again, repurpose the content
- Don’t scare up personalization, get the name right or don’t use the name at all, make sure first and last names aren’t flipped
- Content needs to grab people, don’t be bait and switch, be bait and catch
- A How-To gives readers a quick thing to read of just 5 actionable points that is relevant to a problem
Live notetaking at the IMD16 conference in Chicago. Any errors are my own.
- Don’t go home and begin the content, go home and start planning first
- Some people in this room don’t have a marketing plan for this year
- Developed a marketing and sales period which is a 7 step process
- Start by doing your homework, understand business environment, decide on your strategies which set the tone for the rest, build awareness, generate leader, nurture those lead, create first time clients, create repeat clients
- Homework tips – 3Cs, company, client, competitors – financial analysis and understand where your revenue is coming from, do a SWOT analysis, do post-project surveys for client satisfaction, projects are the reason they keep coming back to you
- Pareto principle 20/80 rule works, who are your 20% of clients and what is the commonality, size geographic industry, where are the consistencies, do a year end survey, why did they hire you, what is unique compared to competitors, do they use other companies and why
- Visit competitors website a few times per year, their services and employees, try some secret shopping
- 2Is – industry.= what trends will impact the business, new technology, new players
- A – audit, find somebody outside firm to do a marketing and sales audience, have them review plans, reports, proposals, website, get feedback from someone who doesn’t stare at it everyday
- Strategy tips – most important part of plan, right strategy will have some success even if tactics aren’t great
- Know who your ideal buyer is, ideal company you want to sell to, define them clearly to create your plan
- Points of differentialion, how do you want to be perceived, everybody can’t be great and have great employees, that’s the cost of business
- Are there opportunities, should you pay attention to big data, at least be aware and consider it, are there problems in the industry or my company that need fixing and will get you far ahead, sometimes education can fix a lot
- Two kinds of clients – new clients and repeat clients, allocate funds to marketing to both types
- Work on SMART goals, you can’t just set a goal and expect it to happen, you need to outline activities that help you achieve those goals
- Growth grid – current vs new products and current clients vs new clients. Core business is current clients and current products.
- Awareness – website is the core of your marketing, well written, attractive; go social via linkedin twitter facebook google plus
- Email marketing – get people to know who you are, stay top of mind, email does this, PPC/SEO/advertising
- Network and exhibiting need to be added too, people to people environment is also necessary
- Don’t have a LinkedIn page, have a linkedin presence
- He’s not a believer in cold calls but do what works for you, if you do a good job, you only have to follow up on leads
- Good content builds awareness and generates sales leads, give some away through blogs, but ebooks and white paper downloads are emailable leads
- Webchat on your website costs 20$ a month, can have somebody ready to to chart at any time, lets you see when someone is visitin gand you can jump in right away, don’t expect huge return on it
- Network and exhibiting are the best, his notebook is the best, he writes down everyname of who he spoke to and what they spoke about, he always writes notes down, even what someone’s hobbies are
- Linkedin is a quality play, he turns down many invitation, only accepts people that there is a chance with, you can export to email list [careful, in canada this could get your in ltrouble]
- We often do a bad job of working a booth
- Get contacts to introduce you to people, their boss and colleagues, and stay in touch with those people, if your one contact leaves then you’re not in trouble
- Nurture people until they are ready to buy
- Email is to connect people with content, not to sell. Give them something of value, a blog post.
- Participate in linkedin groups, that’s where your clients and prospects are
- Lead nurturing – don’t take everything digital or remote, pick up the phone, go to conferences early and meet with clients
- Share content by email – i say this email and though you’d like it. Cheers. A really short email. Set up google alerts to find this content.
- First purchase is the hardest purchase. Please ignore the people you’ve worked with forever and take a chance on me. Need to mitigate this fear.
- Have a point of differentiation. Have a proof sources and case studies, clients and logos, white papers. LEt them see they aren’t your first client. Let them see your are knowledgeble enough to write about it. DO you have a first client deal?
- First time clients – capabilities presentations and proposals are way to long and me focused. They already know what you do and you don’t need to tell them. YOu don’t need to say how awesome you are. You need to tell them what you can do for them. What’s in it for them. Throw a one page summary of your company at the end of the proposal.
- Stay in touch with clients by email, share content, be active, participate in their conversations. Stay top of mind.
- Project followup – be a client advocate who talks to clients separate from the direct client relationship. Be the problem solver
- Send a handwritten thank you note. Don’t save the gift basket for the holiday season.
The Brains Behind Better Marketing: Using Neuroscience to diagnose and optimize marketing efforts, By Michael Smith, Nielsen Consumer Neuroscience
Live note taking at the November 10, 2016 webinar. Any errors are my own.
- Consumer neuroscience is relative new, over the last decade
- Think then feel, weighs pros and cons of product benefits and through rational optimization and then you think about some products being more valuable. This is completely backwards. Maybe we use emotions as a first gauge prior to coming to thinking decisions.
- This is not new, Kahneman wrote about system 1 and system 2 which are thinking fast and thinking slow. Fast is intuition, automatic, and emotional. Slow is emotional, deliberate, and logical. Hare and turtle.
- System 1 starts before system 2 is even on board.
- Traditional consumer insights are market data, POS, panel, explicit data, focus groups and questionnaires. We also need implicit, non-conscious, and physiological reactions to get a more complete view of the consumer.
- Tools include EEG, core biometrics, facial coding, eye tracking, self report
- EEG – 32 sensors collect data 500 times per second to capture activity across the brain, can measure response to marketing materials
- Biometrics – galvanic skin response/sweat, sensors on fingertips, heartrate
- Facial expressions to show surprise, confusion, joy, sadness, cameras also show where eyes are looking at an ad or commercial
- EEG trace has a lot of granularity, change it into a profile of activity over time, aggregate data over many people, can see high and low points, which scenes are high or low engaging [wish he’d talk about people not consumers]
- Can measure memory activation, attention processing, and emotional motivation
- Have 80 years of research on this so we know what is getting into memory, degree to which people are engaged in the communication, and intentional attention and processing
- Biometrics give us momentary engagement, degree of arousal from the ad, emotional highpoint, does it grow over time or finish on a strong point, do they tune out before your branding occurs
- Facial coding and expressed emotions, if there is no emotion the ad won’t be successful, impacts success of delivery, some ads are designed to create a specific emotion
- People are drawn to the center of a stimulus and they naturally attend to faces, people want to look at people, but you might want people to look at your 1-800 number or your logo
- Neuroscience tools are predictive of sales – neuro combined is the best, followed by EEG, biometrics, surveys, and lastly facial coding [of course, the best tool is always a combination of tools]
- Case study – public service advertising – Cheerleader PSA, ad to encourage dad’s to be involved in their kid’s lives – Woman is upset about a crazy man dancing outside her window but then you see he is cheering with his daughter
- People liked the ad, 79% top 2 box
- EEG and biometrics scored it high, lots of engagement, attention, engagement
- There are peaks and valleys at various parts of the 30 second ad, at the lady scowling, seeing the cute little girl
- Biometric trace shows a slow build, had a positive call to action
- Put EEG, biometrics and facial coding together on one chart, kind of neat, negative expressed emotion at the beginning but becomes very positive at the end
- Heatmap shows ‘attention vampires’ – people are looking at irrelevant things over the logo and phone number, it’s nice to look at the little girl but you need people to see your brand, maybe put the call in number to where people are looking and reduce the distractions when you show the important info
- Neuro measures the non-conscious, ensures emotional connections exist, provides granular diagnostics
- If you have norms, do you still need neuro? quant alone is only part of the answer
Gated content is a wonderful thing. Simply by placing your valuable content behind a gate, one that requires people to provide their name and email address or telephone number, you grow your opt-in email list and quickly have access to a huge base of potential customers. And potential customers have your content. It’s a win win situation!
Not so fast. Here’s how gated content actually works.
You, the company,
- Create content that, in your opinion, is valuable and showcases the superiority of your brand
- Choose not to share this content freely because you put time and money into it and therefore people ought to pay for it
- Believe that receiving regular newsletters and repeated requests to meet, is fair payment for your content
Your potential customers, however,
- Know that you are more interested in their dollars than in solving their problems because helpful companies are able to showcase their expertise with zero expectations
- Know that you believe in tit for tat rather than generally being helpful, and this could easily transfer into any work they do with you. A little fee for this, a little fee for that.
- Know that the second they share their email address, they will be bombarded with emails and phone calls they never wanted
- Hate spam and therefore clicked off your website and over to a competitor’s where they can instantly see how transparent and helpful they are.
- Aren’t fooled by all the name dropping and filler in your ‘valuable’ content. It’s just another sales pitch with pretty pictures. ‘Content’ is not what they’re seeking anyways.
So what is the solution?
- Be a generous steward of the industry. Write excellent content. Put it out there with no expectations and no requests for contact details. People love generosity. You too should love generosity. You’ve benefitted from it a lot to get where you are.
- Become known as an expert in your industry because so many people have seen the valuable information you have put together. Because so many people can share it without fear of spam (stop believing your newsletters aren’t spam). Because so many people value your committment to helping them do better and be better.
In the end, there really is zero need to gate content. It only “benefits” you not your potential customers, and I rather think that in the long run, it is a serious disadvantageous. It gives people a completely incorrect vision of what your company is about.
Let’s put gated content in the garbage where it belongs.
Live note taking at the AMA Houston conference. Any errors or bad jokes are my own. Apologies for not indicating who said what.
Panel: PAUL GALVANI-VICE PRESIDENT OF MARKETING-RIVIANA FOODS, JOHN ARCIDIACONO-VP MARKETING & PR-MD ANDERSON, STEVE SIEVERT, EXECUTIVE VICE PRESIDENT OF MARKETING AND BRAND COMMUNICATIONS FOR PULSE, STEVEN LEEPER- FOUNDER & OWNER- MATCHSTICK
TARYN BARANOWSKI, EXECUTIVE DIRECTOR OF MARKETING AND COMMUNICATIONS, YMCA OF GREATER HOUSTON, MARY KRISTEN VALENTINE-DIRECTOR OF MARKETING AND PUBLIC RELATIONS- DEPELCHIN CHILDREN’S CENTER, CHRISTIAN BROWN- ASSISTANT DIRECTOR OF MARKETING AND SALES-HOUSTON BALLET, GLENN TAYLOR- CERTIFIED EXECUTIVE COACH, CONSULTANT, AUTHOR AND SPEAKER
- The Seven Big Problems in marketing
- Focus here is on talent and recruiting and retaining that talent
- Focus on employees before focusing on customers
- Where is the skills void – technology, marketing is so heavily influenced by tech, we need to be experienced with tech and have a varuety of expertise. Also research and analytics, customer lifetime value, how to use data, leverage data, attribution modeling, statistical modeling. Need to understand them no necessarily know them.
- We need to spend a lot of time with IT professionals, go to where the expertise is [yeah go visit your research team, your data analyst, your statisticians, data scientists]
- [i’m so tired of the millenial term. It’s not millenials. It’s new adults who have money for the first time and are ready to find a brand and become loyal to a brand]
- How do you attract people to join your company
- [seems the term has changed from employee to individual contributor]
- Hiring people is a sales job, always have a list of people who you really like and when you have a job that suits them, go ask them. Have a folder of people you want to hire when the opportunity arises
- The resume is a pet peeve. You ar selling and promoting your personal brand. 80% are just a list of things someone has done but that’s what they aren’t looking for. What results have you generated. What contributions have you made, how did that produce results for the company. What impact have you made on the organization. Tell how you helped the company advance.
- If you don’t have much experience because you’re young [then consider all your unrelated jobs and volunteer work and what you contributed to them. NO ONE gets to their first job with no relevant experience. Hard work, perseverance, working under pressure, teamwork]
- Looking for people who want a career not a job, need passionate people
- You are NOT owed a new job title and salary increase every six months [or even every two years]
- You can’t go wrong with an advanced degree. Where all things are equal, that person will win. But someone who’s done amazing things without that graduate degree will win. It’s important that the person can be effective from day one.
- [set of nonprofit speakers]
- Budget issues, limited resource and serious expectations, volunteers, a lot of neuron racy, real lives are on the line, hard to get people to buy into a long term cause
- Biggest challenge is segmentation of audience, donors, members and every mix of those, young, old, active and not active, everyone needs a different message
- Need to establish a culture of marketing when the employees are all social workers or medical workers, fighting for dollars doesn’t line up with how they feel
- Why do one third of ballet audience not come back – what are they missing?
- How do you create a culture of innovation with nonprofits that have limited resources
- “Pilot”” is a common word, test something with very little money, tested a Facebook campaign for potential foster families, got a lot of inquiries as a result, a full blown campaign would not have been approved but now it is
- You rarely know what caused anyone to make a purchase. A billboard? A Facebook post? You have to expect it’s not all measureable and just try anything out.
- They are mostly digital at this point, important for the staff to be writers and they pay firms to do the rest, good content always gives you the presence, focus on the stories
… Live blogging from the Colombian Association for Marketing and Public Opinion Research in Bogota, Colombia, any errors are my own, any comments in  are my own…
Para leer esto en español, por favor, copie pegarlo en Google. Una mala traducción es mejor que ninguna traducción. http://translate.google.com
- successful new products appeal on both rational and emotional levels to as many senses as possible
- how do you engage a tv in more than audio visual senses? about opening the box has an olfactory experience as well, perhaps consider a branded smell [what the!?]
- McGurk effect – visual illusion where looking at a person talking makes your brain interpret what you hear, you think you see them saying a certain sound but you don’t
- the music you hear in a store affects the products you purchase – french music creates french wine purchases, ditto for german music and german wine. but people refuse to believe the music had any influence on their choice.
- what do marketers do if the consumer doesn’t know why they make their decisions?
- changing the fragrance of a shampoo makes people think the shampoo works better
- where is the “buy” button in the brain?
- fMRI is popular because it is colourful, lying in a scanner while a deafeningly loud machine watches you drink a beverage is not real [HA HA!]
- physiological measures becoming more popular – microexpressions, skin response, heart rate, pupil dilation, eye movements – these are challenging for real world applications
- a manly shape to a bottle implies the product is strong, eg a squarish bottle versus one that is thinner at the middle
- for every $2 increase in the price of a bottle of wine, the weight of the bottle increases by 8 grams, price doesn’t tell you which wine is better but which wine has a heavier bottle; even stronger for a tube of lipstick
- perhaps make your packaging feel heavier even if you’re losing less packaging
- the sound of chips crunching defines how we think they taste, how fresh we think they are – P&G wanted to know how they should change the sound of their chips
- pens click when you open them, touching fabric creates a sound, spraying something creates a sound, some things should feel AND sound soft
- restaurants can include the sounds and smells and sights relevant to the product, one restaurant even provides a headset for you to listen to while you eat and people perceive this food to taste better
- a brain seeing a red drink or a blue drink decides on the flavour, the sweetness, and this differs by culture. A blue drink might make you think raspberry, mint, or mouthwash.
- if you put chips in the wrong package, people are either confused or taste the flavour that it says on the bag
- is it the plate or is it the food? the size and colour of the plate changes your experience of the food.
- test the perceptions of different food colours by using augmented reality headsets that change the appearance of the colour for you
- eye monitoring tells you where people look at a package – at the words, the pictures, the price?
- putting your brand name on the narrow section of a bottle of shampoo means people are more likely to see the name – people always look at the narrow section first
- new trend sweeping the UK is synaesthetic marketing – people who unconsciously associate a color or shape with a number or letter [Olive Sacks writes about this, really neat case studies]
- most people do associate shapes and speech sounds – round shapes are soft letters, sharp shapes are angular letters. use these round and angular letters to describe your product.
- The Fourth Dimension of Research by Gregg Archibald #ACEI_CO #InvestigAction2013 #MRX (lovestats.wordpress.com)
- StreetInspiration: The reality of life by Steven Van der Kruit #ACEI_CO #InvestigAction #MRX (lovestats.wordpress.com)
- Brand Growth by Douwe Radenmaker #ACEI_CO #InvestigAction #MRX (lovestats.wordpress.com)
- Functional Literacy and Human Economics by Ana Lucia Lima #ACEI_CO #InvestigAction #MRX (lovestats.wordpress.com)
- SoLoMo in the Colombian Shopper Experience by Pablo Sanchez Kohnt #ACEI_CO #InvestigAction2013 #MRX (lovestats.wordpress.com)
- Innovation and Co-creation by Doug Williams #ACEI_CO #InvestigAction2013 #MRX (lovestats.wordpress.com)
- Price and the Purchase Decision by Sandra Triana #ACEI_CO #InvestigAction2013 #MRX (lovestats.wordpress.com)
- Big Data and the Value of Social by Jeffrey Hunter #ACEI_CO #InvestigAction2013 #MRX (lovestats.wordpress.com)
- Social Big Data by Juan Carlos Mejia Llano #ACEI_CO #InvestigAction2013 #MRX (lovestats.wordpress.com)
Welcome to this series of live blogs from the American Marketing Association’s Research & Strategy Summit in Las Vegas. Any errors, omissions, or silly side comments are my own.
Dr. David Rogers, Author, “The Network Is Your Customer”; Faculty Director, Digital Marketing Strategy, Columbia University Business School
Link to buy David’s book on Amazon
- One half of ALL US adults have a smartphone, tablet, or both. Not just online adults. ALL adults.
- From IR to HOW to WHY
- John Wanamaker, 19th century department store magnate and father of advertising “Half the money I spend on advertising is wasted. The trouble is I don’t know which half.”
- Marketing often say they are swimming in data. MR grew up in a world where data was scarce but now information is no longer scarce. We give off digital data at all places in our lives now.
- 39% of marketers say they can’t turn their data into actionable insight [this is really sad. i suspect MUCH of that is not due to them not knowing how but rather that they don’t have the time to do it]
- 29% say they have too little or no data
- 39% say data isn’t enough real-time
- 51% say data isn’t shared enough across the organization
- 42% say they can’t link data at individual customer level
- 45% say they aren’t using data to personalize marketing communications [this assumes I WANT personalized communications which I don’t]
- 37% of marketers make no mention of financial outcomes when they define ROI. ROI= ((Return/Investment) -1) * 100. Nothing else. [I think I just had a heart attack and it wasn’t due to too much chocolate]
- 57% of marketers are not using any ROI analysis to plan their budge – people use gut, last years budget.
- Marketers are looking for a silver bullet [yup, been there, done that, it don’t exist].
- Marketers want a universal cross-platform model for measuring spend and ROI. Dream. On.
- There is infatuation with the word engagement. Is it the answer to every question? Is engagement ad viewership? Number of likes? Wearing a Harley Davidson jacket and getting a tattoo across your forehead?
- How do you compare facebook fans to twitter shares? Can you? What about youtube and downloads and comments. Which piece is more valuable to your brand? Which half is working….
- Agile marketing model. Agility is an essential skill for marketers and researchers. Keep changing tool kit, adapt metrics.
- Step 1. Start with objectives in mind. Seems trivial but it is not! What do you want to move the needle on. Objectives do NOT start with technology. Brand building? Customer service? Sales? Social responsibility? Lead generation? Once you know your objectives, the problem of being overwhelmed by the data is no longer overwhelming.
- Step 2. Develop metrics. Four kinds.
- Audience metrics. Who did I reach. Fans, followers, page views, unique visitors.
- Channel engagement metrics. Likes, visits, retweets, youtube views, votes cast, time spent on site, click throughs. Must keep metrics separate to the channel. Retweets to twitter. Likes to facebook. Channel specific metrics are more common in digital.
- Universal engagement metric. Change in relationship with customers. Sentiment, state of mind, brand awareness, purchase intent, customer satisfaction, net promoter score, word of mouth, lead generation. Works for new and old channels.
- Financial metrics. Revenue, market share, customer acquisition, customer retention ROI.[These are really the only ones that matter! No money = no audience metrics, no engagement metrics…]
- How do these four interact? You need to build your own model. [I smell regression!]
- The marketing funnel from decades ago has holes but the stages still happen, and now there is an advocacy state to add above the loyalty stage. Advocacy impacts awareness and each stage of the decision making process. [I still think the purchase funnel should be the purchase spaghetti, not the purchase funnel]
- Awareness can be affected by poor SEO, broken links to pages no longer there. Fix it!
- Consideration is shaped by Amazon, what they decide to show consumers. Partner with amazon.
- Preference is affected when people see a coupon on the screen. Promote 3rd party reviews.
- Action is affected by etail + retail. Look online, buy offline. Have contests to create advocacy.
- Number of tweets is NOT a KPI. You can only do that if you’re twitter. Audience metrics are not a KPI unless you are NBC.
- VISA’s KPI is share of wallet vs cash. If you’re traveling, how much cash do you really need when Visa is “accepted everywhere.”
- 7 habits of agile marketing modelers?
- Make it everyone’s job, not the department of big metrics.
- Be iterative. Don’t wait for the annual/quarterly survey.
- Be skeptical. Don’t accept just any metric.
- Be data-driven. Not just hunches and feels good. ‘The highest paid person’s opinion”
- Be customer centric. Don’t lose yourself in the data. Understand the qualitative experience.
- Be imperfect. Don’t wait for perfection. You will never have the perfect model. It is the enemy of the good.
- Be decision driven. Never measure just for the sake of measuring. If it doesn’t influence decisions, then you are wasting your time.
- In defense of research participants #MRX (lovestats.wordpress.com)
- Does your market research supplier offer a conjoint product? I hope not. #MRX (lovestats.wordpress.com)
- Yay me! David K. Hardin Memorial Award Winner #MRX (lovestats.wordpress.com)
- The Social Media Research Love Hate Debate #MRX (lovestats.wordpress.com)
Live blogs by @LoveStats! This is a session summary from The Market Research Event by IIR in Orlando, Florida, November 2011. It was posted mere minutes after completion of the talk. Any inaccuracies are my own. Any humorous side remarks are also my own. Feel free to leave comments and critiques.
11:30 – Best Practices in Cross Media Marketing and Measurement
Molly Elmore, Vice President of Market Research, InsightExpress
Marc Normand, Vice President, Research, The Walt Disney Company
- #1 Clearly defined goal objective. Have focus, choose specific objectives. [in SMR, the objective is often “do something in SM. sigh]
- #2 Less is sometimes more. Do not include random questions that are not related to the objective. Do include brand metrics, target definition questions, profile analysis questions.
- #3 Accurately define exposure groups. Advertising recall is very inaccurate. Don’t assume ads are memorable. 23% of people think they saw an ad but didn’t. 70% of people don’t remember.
- #4 Ensure clean, valid comparisons between Control/Exposed group. Weighting can be your friend.
- #5 Design the survey to capture frequency of exposure.How often do people need to be exposed in order for them to remember it. Binary exposure question is insufficient. 12 exposures in short time can be bad for your brand though.
- #6 be cautious of screening to heavily [THANK YOU] People are define their target too narrowly. You DON”T KNOW which is the important part of your data every time. WOM gets ignored with excessive screening, out-of-target can become in-target. Broaden your target and get larger sample sizes.
- #7 Compare to normative if available. Adds context. Can see if the difference you saw is better or worse than similar studies. But take it with a grain of salt, category must be similar, brand awareness should be similar, consideration set must be similar.
- #8 Incorporate costs into final analysis. TV is expensive option. Can be three times as effective but if it’s ten times as expensive, it may not make sense. [unless the # of people you reach is vastly greater….]
- #9 Develop analysis with a story in mind. Does the creative accomplish the intended goal – awareness, etc.
- #10 Explore media vs creative. How are some measures aimed for media vs creative. Do people connect with ads physically. Awareness measures are often media measures, did media do its job. Education, persuasion is the job of the creative. Does the brand come across? Must always have multiple measures because “purchase was flat” isn’t helpful at all.
- [Very tweetable presentation. Means they gave specific advice. Always good. Thank you presenters!]
- No way? Way! The LoveStats Book! #MRX (lovestats.wordpress.com)
- Statistics Poetry by Geeks and Nerds #MRX #Statistics (lovestats.wordpress.com)
- Better way to Use Segmentation by YUM!, TNS, and Taco Bell #TMRE #MRX (lovestats.wordpress.com)
- Chocolate, Vultures, and Glowsticks oh my #eso3d #mrx (lovestats.wordpress.com)
- Big Data? Big Deal. #MRX (lovestats.wordpress.com)