SurbExpo 2016 BrightLion love talking about data Weve spent our careers answering briefs and solving issues for global brands to bring them closer to customers and ultimately drive sales Being channel neutral we use a vast array of information available to recommend who how where when ID: 605817
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Slide1
Insights from Data
SurbExpo 2016Slide2
BrightLion love talking about data!
We’ve spent our careers answering briefs and solving issues for global brands to bring them closer to customers and ultimately drive sales
Being channel neutral we use a vast array of information available to recommend who, how, where, when, why and what a brand should communicate across paid, owned and earned channels to meet objectives
So why is data so important to us?
DATA
INSIGHTS
IDEAS
STRATEGY
+
PLANS
+
RESULTSSlide3
What is data?
Ever growing volume, velocity, variety, variability and complexity of information
Result of the digital world we live in
Challenges in storing and analysing huge data sets
Consumer data has moved from POS data, DM responses and so on to CTR, social media interactions, mobile usage and moreAllows for more accurate and informed decision making
DATASlide4
Why do businesses need data for marketing?
Delivers huge potential to deliver better marketing
Identify efficient spends across channels
Continuously optimize through testing, measurement and analysis
Knowing how to best
engage
your customersUnderstanding how best to influence customer loyaltyAwareness of product refinements neededOpportunities for product launchAbility to understand progress toward overall business objectives
Move theory to proofAlign output with goalsSlide5
In a nutshell…
“Efficiency is doing things right; effectiveness is doing the right things”.
Peter Drucker, management consultant and self titles, social ecologist
“The world is now awash in data and we can see consumers in a lot clearer ways.”
co-founder.Max Levchin, PayPal
“The goal is to turn data into information, and information into insight.”Carly Fiorina, Hewlett Packard Slide6
Data and information isn’t just for corporate giants or established businesses
Internal existing
External existing
Sourced
Sales performance (volume/value, growth/decline)
Distribution channels
Pricing
Seasonality
RegionalityBrand strengthMissionCustomer journeyGoogle analyticsSocial media analyticsInbound analyticsCustomer enquiriesCustomer feedbackMar-comms
auditMarket reportsGovernment statisticsTrade bodiesPress coverageSearch enginesLinkedInSocial media listening – category users, competitors and influencersGoogle TrendsGoogle AdwordsTwitter trendsCompetitor analysisMoz/Alexa/SpyFu/
SEMRushWeb page codingConsumer trends & theory
Observation
Surveys
Focus groups
Paid for market reports e.g. Mintel
Anecdotal – networking, suppliers, distributors
Website testing/feedback
Annual reports
TGI
Neilsen
Ad copy tracking
IT’S WHAT YOU DO WITH IT THAT COUNTS!Slide7
Connecting
data is when you willdevelop a rounded view from which todraw learnings that can be applied toyour business
Brand
Business (sales and operations)
Category behavior
Competitor
landscape
Consumer understanding – existing and potential
Product
performance and opportunities
Cultural trends and impactsSlide8
And the consumer/customer should be at the heart of it
Marketing
is simply a means to a desired end – a person thinking and behaving differently so that it benefits your business
Powerful consumer
insights get to the heart of consumer motivation, values and needsInsights
unlock the mind of the consumer – to help define the essential strategy and nature and content of the messageThis leads to an idea (or territory) which resonates with the consumer and leads to the desired effect – sales, change of behaviour, awareness, etcThe aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.
Peter DruckerSlide9
What is insight?
Data in isolation is only half the story - it’s the insights derived from data, the decisions you make and the actions you take that matter – this is the tricky bit
A fundamental truth about human emotions/behaviour, which can be leveraged to build a brand/business
It is NOT an observation, or a statistic – although they are often the building blocks of an insight
Observations record what people say or do but INSIGHTS answer the question WHYIn the words of WPP, why is a Good Insight Like a Refrigerator?Because the moment you look into it, a light comes on!
INSIGHTSSlide10
Example;
Fact: Majority of people feed their pets twice a dayObservation: People tend to feed their pets at breakfast and at dinner
Insight
: Pet owners feel guilty when eating in front of their pets if they haven’t been fed yet, so they are fed first so they can enjoy their own meal moreSlide11
Basing a plan on an observation can result in a misaligned strategy and plan
People buy less wallpaper paste during a recession. Why? Because they have less money. OR;
Buying or selling less houses and people tend to decorate their houses in order to maximise value before selling, or decorate their houses after a move to make it more toward their own tastes
Maybe, paint has come into fashion and coincides with the recession
Or perhaps self-adhesive wallpaper has seen an explosion in salesThis was just an observation – and the motivations behind this observation need exploration to avoid addressing the wrong issue
Source: Mat ShoreSlide12
Coming up with insights
Takes practise!
ISSUE – launch, make more sales, attract a different customer segment, increase awareness amongst xx audience,
etc
DATA – audit, source, organise and understand EXTRACT – core learnings that affect your issueCONNECT – make links and overlay with trends, knowledge and experience
HYPOTHESISE – create possible insightsTEST – is it an observation, is it ‘wow’, does it ring true, ask WHY, does it represent a consumer MOTIVATIONAPPLY – where does it lead your business and its marketingCHECK – does it fit with your issue and objectivesBe creativeInvolve other peopleThink bigHave an intense consumer focusLook for connectionsWorkshopSleep on itSlide13
The bigger pictureSlide14
Find your inner Planner – wearing 2 hats
They’re a very special breed - one half creative and the other business
Source: GSK team WPPSlide15
How you can use data tomorrow to begin transforming your business
Audit what you haveCheck all your tracking and data capture is set up
Pinpoint your business issue or key objective
Find more information
Any gaps – primary research – surveys, focus groups, interviews and conversations, etcDesk research – consumer data, white papers, competitor analysis, press coverage, social media listening, etcDistil the informationSWOT, pen portraits, drivers and barriers, etc
Define the key, penetrating findings that relate the most to your business and its key issue (launch, driving growth, protecting position vs competitor, rebrand)Begin uncovering insights for testingSlide16
We hope we’ve inspired you today… Slide17
Any questions (and a free consultation)