Key Insights from the 2016 ANA Masters of

Measurement Conference

7

Data-driven marketing is the goal of every brand. With a plethora of tools, platforms, and methodologies in place, marketers need to know where to start to make better decisions. It starts with asking the right question. That’s the focus of our first of seven Masters of Measurement insights.

The others cover math as marketing, the power of word of mouth, and more. Let’s get to it!

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You can apply the scientific method to everything, including measurement. It starts with building and breaking down a hypothesis. Identify limitations in your data by looking at things

like marketplace, time, and the purpose of the numbers. Is it data for data’s sake or has it been gathered with a predetermined purpose? Answer these questions and you’ll have a clearer

picture of how the data should be framed, and what action you should take as a result.

“A really well-formulated question will drive your measurement.”— JEFF CHEN, CHIEF DATA SCIENTIST AT THE U.S. DEPARTMENT OF COMMERCE

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Best Buy uses math and data to see how disparate inputs relate to one another. The company then uses these insights to become more accurate in predicting potential

campaigns and revenue. Effectively moving marketing from a cost center to a profit center. Math + creative = a match made in marketing heaven.

“With a little bit of math, you can pick out your customer segments.”— GREG REVELLE, CMO AT BEST BUY

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With data-driven marketing technology, brands have the opportunity to reach the right people at the right places at the right time with the right messaging.

Data-driven marketing technology can — and should — lead to better insights, helping brands make a stronger emotional connection to their core customers.

“Technology is only one part of data-driven marketing.”— MINDEL KLEIN LEPORE, MARKETING DIRECTOR AT COLGATE-PALMOLIVE

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Trends matter. They provide focus on the forces that affect the world, consumers, and the future of a brand. Using data to identify a trend is one one thing; you must

also communicate the data in a way that clearly informs your next steps, leading to meaningful action.

“What is a trend? It is the ability to see a truth sooner than others.”— TANYA FRANKLIN, DIRECTOR OF TRENDS & MARKETPLACE INSIGHTS AT LOWES

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Over the past five years, the direct selling industry has grown 5 percent annually. Social selling has also grown immensely, driven by technology that connects people.

In fact, 80 percent of customers discover new brands from friends and family. Using data technology to track and and leverage information about your audience

is key to tapping into this important analog messaging channel.

“Word of mouth is the single most important tool in marketing.”— DAVE RODRIGUES, VP AND HEAD OF GLOBAL INSIGHTS AND MARKETING INTELLIGENCE AT AVON

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Marketers need to rethink measurement and mobile. You cannot take a desktop metric and apply it to mobile. You have to start from scratch. Ask yourself, “What matters? Do the metrics match business objectives?” For the tools

you have to be effective, the organization must be comfortable with building benchmarks that will make the analysis credible.

“Mobile broke measurement.”— MATT LAWSON, DIRECTOR OF ADS MARKETING AT GOOGLE

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A brand investment plan should encompass multiple platforms. Combine traditional and digital for all audiences, and don’t just segment by age. Use data to optimize the

frequency of messaging and customize creative for each platform.

“Think about who is your consumer. What are their values? Where can you reach them? How can you add value to their lives?”

— GAYLE FUGUITT, CEO AND PRESIDENT OF THE ADVERTISING RESEARCH FOUNDATION

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All the quotes featured in this presentation come directly from sessions at the 2016 ANA Masters of Measurement Conference. Want more on measurement? Visit www.ana.net or check out these related stories:

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Sources

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