Tuesday, 28 February 2023
How to use Netezza Performance Server query data in Amazon Simple Storage Service (S3)
Sunday, 31 July 2022
Customer-driven digital marketing: Generate incremental revenues through real-time AI-driven analytics and campaign steering
According to a 2021 study, 46% of marketing decisions are not yet influenced by analytics. Many marketing departments still need days or even weeks to compile reliable data. That is too long to make ad hoc, agile, and valid decisions in the post-pandemic new normal. Rather than making decisions based on trial and observation, all available marketing data needs to be compiled into a single dashboard.
This dashboard enables teams to monitor all KPIs constantly, optimize campaigns across all channels, and proactively identify trends and eliminate anomalies that could negatively affect the marketing campaign’s success. The combination of data from multiple sources and the improvement of cross-channel attribution is paramount to be able to fully understand the market and the customers.
Measure performance in real time with individual data sets
Measuring campaign performance channel by channel is not sufficient. With the increasing number of channels (the web, apps, CRM, social media, sales, paid media and more), it is just not possible to analyze results and to provide a holistic report in real time. Instead of creating dedicated data teams, data can be displayed in real time to meet the needs of each respective marketing team member. The individual data set, supported by AI, enables the individual to respond with agility to any event that requires an adjustment. A good system constantly monitors the results based on classic marketing KPIs, ROI and revenues. Team members can identify underlying negative trends before they have an impact on marketing campaigns, revenues or the business in general.
Augmented analytics allow for a highly proactive approach, applying machine learning to uncover deep insights within potentially vast amounts of data. This leads to a more objective and predictive approach to data discovery, automatically identifying patterns and trends that humans may never uncover. Additionally, this process provides insights into these patterns’ causes and relevance. AI can be used to identify highly specific audience segments, outlining their preferences and pain points, as well as predicting their buying patterns. It unveils bias within data sets stemming from unconscious human preconceptions or flawed data collection techniques, helping to avoid a negative performance impact.
Combine modeling with data analytics for quantitative insights
These meaningful analytics enable marketers to steer campaigns in a granular and revenue-driven style. But do they prove the effects of brand awareness and its conversion into revenue? To demonstrate the ratios between brand awareness, brand sympathy, willingness to buy, marketing campaigns and revenue attribution, teams combine modeling with data analytics. Attribution modeling mirrors the customer journey. It reveals which parts of the journey the customer prefers and which parts need to be enhanced. CMOs can extract the correlation between the multi-channel setup and customer touchpoints and show how they convert.
Many marketing budgets were cut during the pandemic. Thanks to the long-time investment in marketing digitalization, enterprises will be better prepared to manage future crises and make educated decisions about cutbacks. The goal is to be agile and able to re-prioritize quickly. Real-time 360-degree data that reveals the performance of all campaigns across multiple KPIs must be in place. These meaningful analytics provide quantitative insights that enrich and guide marketing team discussions.
By regularly analyzing data and taking action to adjust when needed to drive results, marketers can achieve desired ROI and efficiency. According to our IBM C-Suite study in 2021, only 9% of surveyed C-suite executives create high value from data and have a high level of integration. The most successful organizations will be those that are willing and able to adapt to the disruption caused by data-based decision making. The good news: If they act now, CMOs still have a good chance to surpass their competition.
Source: ibm.com
Saturday, 23 July 2022
Customer-driven digital marketing: Focus on measurable dimensions of customer-centricity in a cookie-free world
The Google announcement to eliminate third-party cookies in 2023 is a wake-up call for marketers. But this is not the only initiative that affects ROI and revenue generation through performance marketing campaigns.
Mobile device identifiers, privacy protection regulations and walled gardens will impact marketing campaigns as well. Today, up to 50% of web traffic lacks third-party cookies, yet performance marketing is still going strong. Chrome dominates, but since 2019, Adform has provided first-party ID solutions for performance marketers, allowing the identification of users in Firefox and Safari. ID providers work jointly on use cases with “data clean room” providers. A data clean room is software that enables advertisers and brands to match data on a user level without sharing any personally identifiable information (PII) or raw data with one another. Marketers need to be aware that this impacts marketing performance KPIs.
Create value through customer-driven customization
Primary data has been and always will be the preferred option for marketers, but it’s time to break free of the limited thinking of the past. Efficient and successful marketing campaigns are not limited to newsletters. In fact, newsletter fatigue is omnipresent, and research shows that Gen Z is not interested in this kind of communication. Now is the time to bring the concept of hyper customization to life.
Personalization and customization are often used interchangeably. But personalization relies on data points collected by the company and reused to increase relevancy of ads. In contrast, the customers themselves provide the information for customization. They share their preferences, and marketing campaigns feature corresponding content. Moving into an era of first-party data marketing requires the collection of data and preferences from all channels in one single system. As CMOs face the “cookie challenge” that will impact performance marketing, they must shift focus to true customization.
To create true value through dialogue with customers, CMOs must carefully revisit their customization strategies. The data required for customization comes from multiple sources, including sales. Actual experiences, qualitative and quantitative insights, real time analytics and customer service data are the holy grail.
AI-powered persona-based and account-based algorithms enrich this diverse set of information. Intelligent marketing campaign design and marketing platforms allow for truly customized content that can be automatically created and shared with the customer. This includes re-targeting to close the purchasing process, using reinforcement tools or recommendations that map the actual and behavioral data.
Develop a customization strategy with data and analytics leaders
Getting to this point requires a detailed customization strategy that syncs all touchpoints and marketing campaigns for a unique and compelling customer experience. First-party data is essential to gain an accurate measurement of defined KPIs and campaign performance. According to a 2021 study, 88% of marketers state that they are making collecting first-party data a priority. The required data collecting processes and consent requirements must be in place, as this data will connect automation platforms, advertisers and publishers.
Moving beyond the basics requires a robust data strategy that clearly states what data is captured initially in a customer interaction, as well as what other data is necessary to improve the creation of customized content. Turning to a first-party, data-led, multichannel marketing strategy requires marketers to know how to customize content with the help of marketing technology and innovation. Marketers must create a continuum of feedback and analysis to improve and maximize use of the data to maintain the trust and loyalty of the customer. A positive customer experience today is the most important competitive differentiator.
Successful CMOs work with data and analytics leaders to clarify desired business outcomes, optimal use cases and relevant technology investments. Customers demand transparency about the use of their personal information, and they will grow to expect full control and ownership of their personal data. The data strategy must reflect on self-sovereign identity models and allow users to provide proof of their identity and their claims. Customers will pre-program the permission to use data, including granting usage for analytics. The strategy should contain use cases involving data to increase customization and engagement at every touchpoint to ensure that trust is the guiding principle.
Customers are only willing to share their data with companies that reinvent the customer experience and treat them with respect and fairness. The strategy should focus explicitly on assurances to customers about how their personal data will be used and protected and provide proof through actions. It should explore how data insights can create a competitive advantage, open new market opportunities, impact brand purpose, tie back into the supply chain and impact sustainability objectives.
Source: ibm.com

















