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Data is transforming how and where we market to our customers. Using a series of case studies from pioneers, this book will describe how each marketing function is undergoing fundamental changes, and provides practical guidance about how companies can learn the tools and techniques to take advantage of marketing analytics.
Who is most likely to buy and what is the best way to target them? How can businesses improve strategy without identifying the key influencing factors? The second edition of Marketing Analytics enables marketers and business analysts to leverage predictive techniques to measure and improve marketing performance. By exploring real-world marketing challenges, it provides clear, jargon-free explanations on how to apply different analytical models for each purpose. From targeted list creation and data segmentation, to testing campaign effectiveness, pricing structures and forecasting demand, this book offers a welcome handbook on how statistics, consumer analytics and modelling can be put to optimal use. The fully revised second edition of Marketing Analytics includes three new chapters on big data analytics, insights and panel regression, including how to collect, separate and analyze big data. All of the advanced tools and techniques for predictive analytics have been updated, translating models such as tobit analysis for customer lifetime value into everyday use. Whether an experienced practitioner or having no prior knowledge, methodologies are simplified to ensure the more complex aspects of data and analytics are fully accessible for any level of application. Complete with downloadable data sets and test bank resources, this book supplies a concrete foundation to optimize marketing analytics for day-to-day business advantage.
This note supports cases used in Darden's "Marketing Analytics" course elective. Marketing analytics powered by "big data" holds the promise to transform marketing strategy from a discipline based mostly on intuition to a fact-based decision-making process. Based on interactions with more than 100 executives in conferences, executive education seminars, case study development, and consulting projects, this technical note serves as a road map for improving implementation of marketing analytics within organizations.ExcerptUVA-M-0869Rev. Oct. 11, 2019Implementing Marketing AnalyticsMarketing analytics powered by "big data" holds the promise to transform marketing strategy from a discipline based mostly on intuition to a fact-based decision-making process. Despite the potential of data analytics in marketing, its widespread adoption within organizations remains a challenge. Fewer than half the respondents in a survey conducted by Deloitte and Duke University reported being able to leverage marketing analytics for decisions. The trend, however, is positive: the percentage of survey respondents using marketing analytics for decisions increased from 30% in early 2013 to 42% in early 2018. The roadmap for improving implementation of marketing analytics shown in Figure 1 is based on interactions with more than 300 executives in conferences, executive education seminars, case-study development interviews, and consulting projects.The launching pad for implementation of marketing analytics is support from top management and the integration of the marketing analytics function in business processes. Firms must address issues related to organizational structures, analytics processes, and organizational change in order to foster implementation of analytics (Figure1). Within this framework, managers should ask seven key questions to start the journey toward a marketing analytics-driven culture.Figure 1. Roadmap for implementing marketing analytics.
This second edition of Digital Analytics for Marketing provides students with a comprehensive overview of the tools needed to measure digital activity and implement best practices when using data to inform marketing strategy. It is the first text of its kind to introduce students to analytics platforms from a practical marketing perspective. Demonstrating how to integrate large amounts of data from web, digital, social, and search platforms, this helpful guide offers actionable insights into data analysis, explaining how to "connect the dots" and "humanize" information to make effective marketing decisions. The authors cover timely topics, such as social media, web analytics, marketing analytics challenges, and dashboards, helping students to make sense of business measurement challenges, extract insights, and take effective actions. The book’s experiential approach, combined with chapter objectives, summaries, and review questions, will engage readers, deepening their learning by helping them to think outside the box. Filled with engaging, interactive exercises and interesting insights from industry experts, this book will appeal to undergraduate and postgraduate students of digital marketing, online marketing, and analytics. Online support materials for this book include an instructor’s manual, test bank, and PowerPoint slides.
A brand new collection introducing today's most powerful strategies and techniques for measuring and optimizing marketing… 3 authoritative books, now in a convenient e-format, at a great price! 3 authoritative Books help you measure, analyze, and optimize every marketing investment you'll ever make Measuring and optimize your marketing investments is more crucial than ever. But, with an explosion in channels and complexity, it's also more challenging than ever. Fortunately, marketing metrics and analytics have taken giant leaps forward in recent years: techniques now exist for accurately quantifying performance and applying what you learn to improve it. In this unique 3 Book package, world-class experts present these new approaches, and show how to profit from them. In Marketing and Sales Analytics, leading consultant Cesar A. Breaexamines the experiences of 15 leaders who've built high-value analytics capabilities in multiple industries. Then, building on what they've learned, he presents a complete blueprint for succeeding with marketing analytics. You'll learn how to evaluate "ecosystemic" conditions for success, frame the right questions, and organize your people, data, and operating infrastructure to answer them. Brea helps you overcome key challenges ranging from governance to overcoming hidden biases. Along the way, he also offers specific guidance on crucial decisions such as "buy vs. build?", "centralize or decentralize?", and "hire generalists or specialists?" Next, in Cutting Edge Marketing Analytics, three pioneering experts introduce today's most valuable marketing analytics methods and tools, and offer a best-practice methodology for successful implementation. They augment this knowledge with hands on case studies, guiding you through solving key problems in resource allocation, segmentation, pricing, campaign management, firm valuation, and digital marketing strategy. All case studies are accompanied by real data used by the protagonists to make decisions. As you practice, you'll gain a deeper understanding of the value of marketing analytics, learn to integrate quantitative analysis with managerial sensibilities, master core statistical tools, and discover how to avoid crucial pitfalls. Finally, in the award-winning Marketing Metrics, Second Edition, Paul W. Farris and his colleagues show how to choose the right metrics for every marketing challenge. You'll learn how to use dashboards to view market dynamics from multiple perspectives, maximize accuracy, and "triangulate" to optimal solutions. You'll discover high-value metrics for promotional strategy, advertising, distribution, customer perceptions, market share, competitors' power, margins, pricing, products and portfolios, customer profitability, sales forces, channels, and more. This extensively updated edition introduces innovative metrics ranging from Net Promoter to social media and brand equity measurement, and shows how to build comprehensive models to optimize every marketing decision you make. If you need to measure and improve marketing performance, this 3-book package will be your most valuable resource. From world-renowned business sustainability experts Cesar A. Brea, Rajkumar Venkatesan, Paul W. Farris, Ronald T. Wilcox, Neil T. Bendle, Phillip E. Pfeifer, and David J. Reibstein
THE NEW MARKETING ANALYTICS A clear, common sense guide for implementing an effective data analytics strategy. In today's world, no matter the industry, businesses and organizations are competing in an information-based marketplace. To effectively compete, marketing leaders are tasked with timely analysis of mountains of customer and market information to make faster and better marketing decisions. It's not just the task of collecting information. It's the development of new insights and the ability to implement this new found knowledge to drive more profitable marketing - that's what counts. Marketers get paid to produce results. From chief marketing officers to independent small business owners, success is defined as growing a business, increasing profitability, having a better understanding of customers or being a market leader. This book will demonstrate how the degree of success is in direct proportion to the ability to successfully analyze both traditional and big data. The information and wisdom derived from data is the ultimate competitive advantage. Welcome to the New Marketing Analytics.
This book offers a direct, actionable plan CMOs can use to map out initiatives that are properly sequenced and designed for success—regardless of where their marketing organization is in the process. The authors pose the following critical questions to marketers: (1) How should modern marketers be thinking about artificial intelligence and machine learning? and (2) How should marketers be developing a strategy and plan to implement AI into their marketing toolkit? The opening chapters provide marketing leaders with an overview of what exactly AI is and how is it different than traditional computer science approaches. Venkatesan and Lecinski, then, propose a best-practice, five-stage framework for implementing what they term the "AI Marketing Canvas." Their approach is based on research and interviews they conducted with leading marketers, and offers many tangible examples of what brands are doing at each stage of the AI Marketing Canvas. By way of guidance, Venkatesan and Lecinski provide examples of brands—including Google, Lyft, Ancestry.com, and Coca-Cola—that have successfully woven AI into their marketing strategies. The book concludes with a discussion of important implications for marketing leaders—for your team and culture.
Marketing has become increasingly data-driven in recent years as a result of new emerging technologies such as AI, granular data availability and ever-growing analytics tools. With this trend only set to continue, it’s vital for marketers today to be comfortable in their use of data and quantitative approaches and have a thorough grounding in understanding and using marketing analytics in order to gain insights, support strategic decision-making, solve marketing problems, maximise value and achieve success. Taking a very hands-on approach with the use of real-world datasets, case studies and R (a free statistical package), this book supports students and practitioners to explore a range of marketing phenomena using various applied analytics tools, with a balanced mix of technical coverage alongside marketing theory and frameworks. Chapters include learning objectives, figures, tables and questions to help facilitate learning. Also included online with the datasets are software codes and solutions (R Markdowns, HTML files) to use with the book, as well as PowerPoint slides, a teaching guide and a testbank for instructors teaching a marketing analytics course. This book is essential reading for advanced level marketing students and marketing practitioners who want to become cutting-edge marketers. Dr. Gokhan Yildirim is an Associate Professor of Marketing at Imperial College Business School, London. Dr. Raoul V. Kübler is an Associate Professor of Marketing at ESSEC Business School, Paris.
Master practical strategic marketing analysis through real-life case studies and hands-on examples. In Cutting Edge Marketing Analytics, three pioneering experts integrate all three core areas of marketing analytics: statistical analysis, experiments, and managerial intuition. They fully detail a best-practice marketing analytics methodology, augmenting it with case studies that illustrate the quantitative and data analysis tools you'll need to allocate resources, define optimal marketing mixes; perform effective analysis of customers and digital marketing campaigns, and create high-value dashboards and metrics. For each marketing problem, the authors help you: Identify the right data and analytics techniques Conduct the analysis and obtain insights from it Outline what-if scenarios and define optimal solutions Connect your insights to strategic decision-making Each chapter contains technical notes, statistical knowledge, case studies, and real data you can use to perform the analysis yourself. As you proceed, you'll gain an in-depth understanding of: The real value of marketing analytics How to integrate quantitative analysis with managerial sensibility How to apply linear regression, logistic regression, cluster analysis, and Anova models The crucial role of careful experimental design For all marketing professionals specializing in marketing analytics and/or business intelligence; and for students and faculty in all graduate-level business courses covering Marketing Analytics, Marketing Effectiveness, or Marketing Metrics
The authors of the pioneering Cutting-Edge Marketing Analytics return to the vital conversation of leveraging big data with Marketing Analytics: Essential Tools for Data-Driven Decisions, which updates and expands on the earlier book as we enter the 2020s. As they illustrate, big data analytics is the engine that drives marketing, providing a forward-looking, predictive perspective for marketing decision-making. The book presents actual cases and data, giving readers invaluable real-world instruction. The cases show how to identify relevant data, choose the best analytics technique, and investigate the link between marketing plans and customer behavior. These actual scenarios shed light on the most pressing marketing questions, such as setting the optimal price for one’s product or designing effective digital marketing campaigns. Big data is currently the most powerful resource to the marketing professional, and this book illustrates how to fully harness that power to effectively maximize marketing efforts.