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  • admin 9:52 am on August 30, 2016 Permalink
    Tags: , , Storytelling   

    The role of data in data storytelling 

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  • admin 9:51 am on May 10, 2015 Permalink
    Tags: , , , Storytelling   

    BRAND STORY-TELLING AND CPG DATA-DRIVEN MARKETING 

    DDMThe television advertising spot remains a mainstay in the CPG industry’s never-ending quest to differentiate and increase sales. Meanwhile, all things digital have swept over the industry landscape. In parallel to mass media, agencies acting on behalf of brand marketers execute all manner of digital marketing campaigns, but without an eye for capturing, integrating and measuring these interactions. Amid these dual approaches to influencing consumer behavior, brand marketers struggle to apply highly organized, integrated and proven-effective Data-Driven Marketing techniques. For many, it feels unrealistic, and seems to hamper the creativity at the heart of the most successful brands.

    Progressive brand marketers recognize the opportunity to marry brand story-telling exemplified in mass media with direct response marketing principles to develop measurable 1to1 connections with their consumers. This strategy is at the heart of leading Consumer Products company Data-Driven Marketing initiatives.

    There are many benefits of a Data-Driven Marketing strategy:

    • The quality of marketing content in addressable channels can be gauged by indicators of brand affinity. For example, how many consumers communicate with your brand through multiple channels versus one? How many consumers that you have direct relationships with express affinity in social channels and also participate in your loyalty program?  How much content is shared, in either emails or social channels, and what is the reach afforded?
    • Responses to digital channels like web and email are recorded, evaluated, and targeted for improvement over time. When enabled at scale, “test and learn” serves to make the most of your marketing budget by applying dollars to the programs that promise the highest response. Permission-based digital channels are addressable – meaning you have the opportunity to communicate with consumers on a one-to-one basis, measure response, and accrue knowledge about consumers that informs brand creative, segmentation and targeting.
    • The value of agency creative can be evaluated objectively for either addressable or mass media. Indicators of quality and response for addressable channels allow brand marketers to quantify the value of their agency investments. In the case of mass media (i.e. television), brand marketers are increasingly tying it to complementary digital activities such that they work in unison to yield an overall better result.

    It’s important that the platform not limit the creative energy that agencies bring to the table in developing brand content, while at the same time laying the foundation for capturing consumer interaction data across brands, campaigns and channels.

    Engagement and Sales

    A primary benefit of Data-Driven Marketing is that the dials on many of these codified consumer interactions can be tuned in-market to increase the likelihood of positively impacting sales. The key is to be able to turn these dials quickly to improve affinity with the right audience, which in turn should meaningfully impact sales figures. The stakes for “engaging correctly” are high.  An October 3, 2013 article on CMO.com titled “20 Years After Peppers And Rogers, A Wake-Up Call For Brands” reported:

    “According to a Janrain/Blue Research study from earlier this year, 98 percent of people receive information and offers from brands that are simply not relevant. And the impact is beginning to be felt, with consumers taking action on their annoyance. Nearly half of them report abandoning brands after just two mis-targeted communications. They stop using products, unsubscribe from email lists, and abandon Web sites. This is obviously a big problem – companies are potentially losing nearly half of their customers due to frequent mis-targeting. It’s a wake-up call to fix this problem or risk losing customers, prospects, and market share.”

    Digital Marketing is Dead?

    Like in many industries, digital marketing swept through the Consumer Products market promising greater effectiveness and efficiency than traditional mass media advertising and promotion. Dedicated functions and teams have sprung up to bring the best that digital has to offer to anyone in the organization who stands to benefit from connecting with consumers (or shoppers) through email, the web, mobile or social channels.

    Has all this activity made any difference in terms of marketing performance, or even company performance? Most experts would say the results have been mixed. More often than not, “bolting on” digital capabilities as opposed to weaving it into organizational DNA hasn’t unleashed the expected value.

    Understanding consumer movement among channels and devices is critical insight to creating the most relevant and responsive campaigns. It’s simply not realistic to achieve this absent a scalable and data-first approach. According to Forrester’s “Build Seamless Experiences Now” report, 90% of consumers who have multiple connected devices switch between the devices to complete tasks. As consumers move from mobile and email to online and social, it’s easy for marketers to get tangled in consumers’ web of data and lose sight of the single view of the customer.”

    Every marketer wants to be more effective, and data and insights are the ways to achieve it.  At the same time, brand marketers know that killer creative, done well, spurs consumers to action. Thinking about the Data-Driven Marketing opportunity as a blend of time-worn brand marketing principles and direct response techniques – or Direct Branding – is a good first step to understanding how to succeed amid these seemingly conflicting ideas.

    Bottom Line: Brand storytelling is how CPG brands convey value/engage their audience; to do so most effectively requires the use of direct digital methods as part of an overall Data-Driven Marketing strategy.

    The post BRAND STORY-TELLING AND CPG DATA-DRIVEN MARKETING appeared first on Industry Experts.

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