There is so much noise and confusion with big data I thought I would look at the types of data available in an organisation. Let’s start with what is big data? IBM have defined big data using these four “V’s”: Volume, Variety, Velocity and Veracity. IBM’s big data definition). This is a good description of the definition of big data, yet as a marketer I struggle to understand how I can practically apply this definition to data I use or work with in day-to-day marketing challenges.
So what is the ideal team structure when rapid results which are customer focused is key? I wondered what the ideal structure would be if the organisation geared itself around the customer and rapid delivery removing constraints.
I thought I would start with the customer. I love the idea of the customer director and being a big fan of Geoffrey Moore’s Crossing the Chasm I thought his concept of creating a competitive advantage by understanding your customers is essential. One of the initiatives looks at
In my previous article I looked at how marketers can quantify UX changes on their websites and the impact these can have financially.
Next on the agenda is the wider question of what digital or marketing initiatives you should prioritise and how can this be justified internally.
It’s often easy for organisations to come up solutions to existing problems or even new ideas to take the business forward. The battle is getting those items approved and actioned with a limited budget.
Businesses are more and more constrained on their marketing budgets, or at least facing more pressure to justify where their budget is spent, and quite right too.
In my previous post ‘Racing Car Setup Lessons For Marketing Effectiveness‘, I looked at how we need to make changes little and often. However the next step has to be about ROI. So where do we start and how do we prioritise these changes. In this post I will look at the prioritisation of UX changes and how we can determine which one is having the best effect on the business from a commercial standpoint.
One of the common challenges marketers face is understanding what activity is having the biggest effect on changing customer behaviour.
However, with the plethora of channels out there and the number of interactions a customer has with a brand, is it truly possible to understand what has and has not had an effect? In the field of customer experience, some companies are using Multivariate Testing or (MVT) as an optimisation tool, while others are looking at specific A/B testing plans. Both of these options work well but when looking at marketing, where do you start?
Motor racing teams face a similar problem. The big challenge they are trying to solve is get the car to its optimum state to set the fastest lap time. They too face a huge number of variables, including the tyres on the car, tyre pressures, track temperature and the weather. That’s without the different driving styles and abilities of the drivers.
How can we drive customer loyalty in sectors where price has become the number one driver of the purchasing decision? I am specifically thinking about businesses that have an annual relationship with customers, to see if there are alternative incentives we can use rather than price discounting against competitors.
So it’s probably not the first thing that springs to mind when you think of dashboards is motor racing, let alone this sport has a lot in common with CMOs.
The original meaning of the term dashboard is “the barrier of wood or leather at the front of a horse-drawn carriage to protect the driver from being ‘dashed’ by the debris thrown up by the horses’ hooves”.
The rise of digital marketing and the resulting improvements in response attribution means marketers can now identify which customers responded to which offers. But is this enough? If the sale is only the start of the customer journey, should we be measuring when a customer has a positive impact on the business?