Rocking the Boat - services.google.com · Rocking the Boat: Marketing Best Practices for the 21st...

of 25 /25
Rocking the Boat: Marketing Best Practices for the 21 st Century © 2014 Demand Metric Research Corporation. All Rights Reserved. Best Practices Report By Jerry Rackley, Chief Analyst June 2014

Embed Size (px)

Transcript of Rocking the Boat - services.google.com · Rocking the Boat: Marketing Best Practices for the 21st...

  • Rocking the Boat: Marketing Best Practices for the 21st Century

    © 2014 Demand Metric Research Corporation. All Rights Reserved.

    Best Practices Report

    By Jerry Rackley, Chief Analyst

    June 2014

  • 3

    5

    10

    14

    17

    Introduction

    Modern Marketing Dilemma

    Current Marketing Challenges

    Modern Marketing Performance Management

    Practical Attribution Application

    23

    24

    25

    Our Best Practices Report Methodology

    About Adometry by Google™

    About Demand Metric

    20

    22

    Successful Marketing Leadership

    About the Research Analyst

    TABLE OF CONTENTS

  • INTRODUCTION

    3

    Best Practices Report: 21st Century Marketing Manifesto

    © 2014 Demand Metric Research Corporation. All Rights Reserved.

    Marketers have long been challenged to prove how their

    actions, campaigns and initiatives are responsible for

    generating business results. This isn’t a new challenge – late 19th

    century retailer John Wanamaker, a marketing pioneer considered by

    many as the father of modern advertising, once said, “Half the

    money I spend on advertising is wasted; the trouble is I don’t know

    which half.”

    Intuitively, marketers understand that their efforts influence

    business results, but marketers have not endeavored to learn

    the degree to which they do so for a variety of reasons. Some

    haven’t had to, because strong business results let them off the

    hook. More than a few fear knowing the truth. Others don’t feel

    they have the resources to pursue an answer, and still others believe

    that understanding the relationship between marketing efforts and

    business results is unknowable with any degree of precision.

    Whatever the reasons, the myth that marketing cannot truly

    understand the impact of what it does perpetuates.

    Challenging the abilities of the marketer is the increasingly

    complex customer journey. A larger portion of this journey is

    intentionally completed without vendor interaction and therefore

    hidden from the marketer. It is the norm for it to occur across

    multiple devices and through a multi-channel media stream.

    The old marketing order believes that it’s too difficult to

    understand or measure the influences holistically during the

    customer journey. The customer journey seems like a black box –

    the prospect enters it an immediately disappears from sight. We

    toss content, digital experiences, and every creative tactic we can

    into that black box hoping the prospect stumbles across them.

    Sometimes the prospect exits the black box and becomes a

    customer, but other times not. It seems there’s no way of knowing

    which content, through which channel influenced the prospect

    while inside the black box, so marketers must use their instincts and

    what little intelligence we can glean to tweak what we throw into the

    black box. At best, we see some incremental improvements,

    and there’s tremendous uncertainty about connecting

    activities to results.

  • 4

    Imagine the power of connecting these dots, of knowing the causes and effects of marketing’s work.

    How much more intelligently could we optimize the multi-channel mix most of us use?

    How much farther could we stretch our marketing budgets by knowing what really isn’t working and exactly what is?

    How easy would justifying the marketing spend be when we’re not guessing which efforts produced results, and to what degree?

    How would it feel to be right at home in an ROI discussion about our work?

    When someone asks, “what have you done for us lately?” to have an authoritative answer that puts to rest any doubt?

    This is the new marketing order, and it’s not futuristic science fiction, but something marketers can embrace here and now.

    The purpose of this manifesto is to express the vision for this new marketing order and call marketers to it. In this data-driven, multi-channel

    marketing world in which we now operate, marketers can eliminate the guesswork about how their activities are creating results.

    To accomplish this goal, this manifesto will discuss the modern marketing dilemma and status quo, and then describe the different

    kind of thinking required to manage modern marketing performance.

    Best Practices Report: 21st Century Marketing Manifesto

    © 2014 Demand Metric Research Corporation. All Rights Reserved.

  • In the history of marketing, there has never been a more exciting,

    challenging, rewarding and apprehensive time for the marketing

    profession than right now. Clare Price, VP of Research at Demand

    Metric, puts it this way in the 2014 Outlook Study:

    “More than ever before, Marketing has direct control

    over the sales/buying process and with it the

    customer journey. That change has given Marketing

    more opportunity to prove its value to the company,

    while at the same time increasing pressure to deliver

    results with measureable advances in performance

    and productivity.”

    The set of things about which the modern marketer is concerned

    with simply continues to expand. Consider just the tools and

    technologies marketers have at their disposal, as illustrated in

    Marketing Technology LUMAscape (Figure 1, Page 6) published

    by Luma Partners in 2014.

    MODERN MARKETING DILEMMA

    © 2014 Demand Metric Research Corporation. All Rights Reserved. 5

    A More Complex Customer Journey

    Another challenge to the modern marketer is the evolution of the

    customer journey, which now occurs not just through multiple

    channels, but multiple devices as well.

    Multi-channel Marketing

    There was a time when marketers would direct mail a piece to a list

    of prospects, and then wait for responses. Marketers could easily do

    the analytics and tracking to match responses to the mailing,

    determine the conversion rate, cost to acquire a customer and the

    ROI. It was easy to understand what produced the conversion,

    because not only was it the last thing the consumer saw, it was the

    only thing the consumer saw.

    When the internet evolved into a marketing platform, the old

    metrics were used, with help from cookies and tags to track

    everything and detect conversions. Initially, this approach worked,

    but as the number of online channels continues to proliferate,

    the challenge for the marketer is to get clarity of insight into

    what’s happening because of this media stream.

    Best Practices Report: 21st Century Marketing Manifesto

    http://www.demandmetric.com/content/2014-marketing-outlook-study-highlights-horizonshttp://www.demandmetric.com/content/2014-marketing-outlook-study-highlights-horizonshttp://www.demandmetric.com/content/2014-marketing-outlook-study-highlights-horizonshttp://www.demandmetric.com/content/2014-marketing-outlook-study-highlights-horizonshttp://www.demandmetric.com/content/2014-marketing-outlook-study-highlights-horizons

  • 6 Figure 1: Marketing Technology LUMAscape; Published by Luma Partners, 2014

    Best Practices Report: 21st Century Marketing Manifesto

  • 7

    Which elements best create awareness, promote and produce

    conversions?

    The influence of the old way of assigning credit for conversion

    persisted: last click attribution. This form of attribution assigned

    full credit for conversion to the last piece of media in the stream,

    regardless of how diverse the media stream was. But marketers need

    a much more precise understanding of how all media is performing,

    so they can make better decisions and develop better strategies and

    tactics.

    Marketing Across Devices

    In addition to the broadening array of channels marketers

    have at their disposal is the proliferation of devices.

    Consuming content across multiple devices is now the norm for

    most people. It may start with a mobile device, but often ends

    somewhere else, as the infographic from Google illustrates in Figure

    2 to the left.

    This proliferation of devices is a boon to consumers, but a

    challenge to marketers that need to track all the activity,

    regardless of which device on which it occurs.

    © 2014 Demand Metric Research Corporation. All Rights Reserved.

    Figure 2: The New Multi-Screen World, Published by Google, 2014

    Best Practices Report: 21st Century Marketing Manifesto

  • The Data Deluge & Big Data Marketing

    With the proliferation of channels and devices comes a deluge of

    data. For marketing organizations that are already very data centric,

    this rush of data is seen as a good thing, although it’s availability still

    poses some challenges. The simple fact is that without data,

    optimizing the media mix can only occur through educated

    guesswork. To have any sort of precise view about media

    performance requires availability of the data, the systems and tools

    to understand it, and the will to go where the data leads you.

    Turning all this data into actionable information

    requires skills, bandwidth or tools many marketers

    just don’t have or don’t think are available.

    While it sounds simple, exploiting the data in practice isn’t always

    easy. The amount of user-level data increases with channels and

    devices. Where once it was relatively easy for marketers to

    understand the performance of the one or two channels they were

    using, they’re now faced with a barrage of data arriving in real time

    8

    and from every direction. Turning all this data into actionable

    information requires skills, bandwidth or tools many marketers just

    don’t have or don’t think are available. To cope, some marketers

    simply attribute conversion credit to the last element touched or

    clicked. This approach, however, is wholly inaccurate, primarily

    because the volume of media is so substantial and varied. The

    longer the media stream, and the more varied it is, the less

    likely it is that last click attribution accurately reports the

    performance of that media stream.

    Marketing ROI and Accountability

    No modern marketer disputes that the rules and norms of

    marketing have changed with the advent of online marketing. What

    hasn’t changed is the need for marketing to provide accountability

    to the business for its performance.

    The challenges of the 21st century marketing environment make

    accountability more difficult to prove. It’s unacceptable for

    marketing to just ask the rest of the organization to just “take

    our word for it” when asked how effective its campaigns are.

    © 2014 Demand Metric Research Corporation. All Rights Reserved.

    Best Practices Report: 21st Century Marketing Manifesto

  • There’s no shortage of data that marketing can present to the organization as evidence of its efforts: impressions, clicks, unique visits and an

    entire marketing dashboard of various metrics exit. What the organization really wants to know, particularly those in the C-suite, is:

    How do any of these metrics translate into something we care about?

    What revenue is directly attributable to marketing campaigns?

    What is the marketing ROI?

    What incremental revenue can marketing produce with additional funding?

    Marketing is expected to fully participate in such discussions, just like the other parts of the organization do.

    To address all of these marketing challenges, marketers need a technology platform that gathers and matches data at a user level

    across multiple channels and device types, letting marketing change the channel mix as needed while still tracking conversions

    accurately.

    9 © 2014 Demand Metric Research Corporation. All Rights Reserved.

    Best Practices Report: 21st Century Marketing Manifesto

  • Silos and Multi-channel Optimization

    Because there are more marketing channels and devices at our

    disposal today, the marketing landscape is quite fragmented.

    With so many digital paths marketers can choose to reach their targets,

    it’s almost impossible to understand the impact each one is having.

    Marketers have tried to come up with ways to measure their efforts,

    but these efforts at best result in silos.

    The silos of marketing data are reflected in the way many modern

    marketing organizations are structured. Today we see separate

    functions for analytics, offline, digital and others. These are essentially

    silos that reinforce how reporting is done. The result is that there is

    no single source of data or system of record for marketing

    leaders to use to understand how the marketing function is

    performing.

    Marketers often use response curves to predict how a campaign will

    perform, and they are built on the assumption that past results predict

    future performance. A sample response curve is depicted in Figure 3.

    CURRENT MARKETING CHALLENGES

    10

    0

    2

    4

    6

    8

    10

    12

    14

    16

    18

    1 2 3 4 5 6 7 8 9 10

    Convers

    ions

    Weeks

    Media Element Response Curve

    Marketing Manifesto Best Practices Report, May 2014

    Figure 3: Media Element Response Curve

    Best Practices Report: 21st Century Marketing Manifesto

  • In a single media element (channel) marketing campaign, a response curve is a useful tool for predicting performance. Most modern

    campaigns, however, are not one-dimensional but multi-channel.

    Marketers that use a response curve can unwittingly become hostage to it, attempting intra-channel tweaking and modification that at best yields

    basis point-sized improvements. The reason this approach is flawed is because it cannot account for the influence of other channels on

    customers who convert.

    Consider an email marketing campaign, for which a response curve is built using past performance metrics. The email send occurs and some

    recipients use search to investigate the sender. A pay-per-click is served to the searcher, who eventually ends up on the sender’s website where

    additional content is consumed.

    In this scenario, a number of media elements entered the stream and had various levels of influence. However, the response curve is

    deaf, dumb and blind to their existence. Using the response curve to optimize a campaign is analogous to diagnosing a car’s mechanical

    problems by looking only at the tires. Sometimes it works, but usually it doesn’t. Better solutions are needed for true multi-channel marketing.

    Using the response curve to optimize a campaign

    is analogous to diagnosing a car’s mechanical problems

    by looking only at the tires.

    © 2014 Demand Metric Research Corporation. All Rights Reserved. 11

    Best Practices Report: 21st Century Marketing Manifesto

  • Bringing True Marketing Strategy to the Table

    Marketers desire to be part of the strategic planning and decision-

    making processes in the organizations they serve. Indeed, marketers

    can bring brilliant insights and a unique, needed perspective to the

    “big decisions table” within their companies.

    The risk for marketers, however, is that the inability to answer

    some questions about their work with conviction and authority

    can jeopardize their leadership role. Ironically, many of these

    questions seem very operational, but the inability to answer them

    precisely creates doubt about marketing’s ability to contribute

    insights in other areas. Examples of these “tripwire” questions

    include:

    What is the incremental contribution of each marketing

    channel, above “business as usual?” In the multi-channel

    world that marketers exploit, rarely do they all influence equally

    and outside the influence of other channels. Yet, it’s important to

    know the degree to which each channel in the media stream

    contributes to conversion. Most marketers don’t have this data

    for each channel; just for the media stream as a whole.

    © 2014 Demand Metric Research Corporation. All Rights Reserved. 12

    If it becomes necessary to increase or decrease marketing,

    which channels are candidates and what is the expected

    outcome? Few marketers have the luxury of never needing to

    worry about changing budgets. Where would cuts hurt the least,

    or conversely, where would some additional funding help the

    most? For most marketers, fluctuating funding is essentially a

    controlled experiment where changes are made, one channel at a

    time if possible, to see what happens. It’s far more ideal to have

    precise marketing performance data about each channel in the

    media stream to know in advance what impact changes will have.

    How do tactics, devices and audiences perform across

    channels and what is the interplay? Customers experience the

    media stream across a variety of devices, platforms and through

    various channels. How is this interaction occurring, and which

    types of interaction produce the most conversions? Having this

    knowledge is essential to optimizing the mix of marketing tactics,

    channels and devices, but since the data is often in silos, it’s hard

    for marketers to understand the relationships, yet alone make

    decisions to leverage them more effectively.

    Best Practices Report: 21st Century Marketing Manifesto

  • What is the optimal marketing spending mix within each channel based on a desired business outcome? Most marketers have

    experience to tell them that the relationship between spending and results is not linear, nor is it exponential. But what is it exactly? Largely

    unknown, when there is no precise attribution data. When the organization comes knocking, asking how much marketing needs to spend to

    produce an additional $25 million in revenue, it expects an answer from marketing that is more than just an educated guess.

    Each of these questions is a legitimate, fair question for marketing. It is important for marketing to have the acumen and ability to answer

    questions like these if they want to retain their seat at the big decisions table.

    When the media world was much simpler, marketing could answer them pretty well. In the 21st century, the complex media and device landscape

    has made the answers to these questions more elusive, at least when 20th century approaches are used to find them.

    In fairness, answering any of these questions with precision was once out of reach, but the environment has changed. The answers

    are available, if marketers are willing to seek them.

    © 2014 Demand Metric Research Corporation. All Rights Reserved. 13

    Best Practices Report: 21st Century Marketing Manifesto

  • Marketers understand attribution, at least conceptually, and all

    marketers have a desire to know how to attribute their efforts to

    results.

    In marketing campaigns, what typically happens is that the

    marketing measurement methods are set up for each channel, and

    when someone converts, credit is given to the last element in the

    media stream. This last click attribution approach, however, is

    inaccurate, giving marketers a false sense of precision,

    because the decision to convert was driven by the entire media

    stream that users are seeing, not just a single element. There

    is a better way.

    Data-Driven Advanced Attribution

    This approach very accurately allocates credit across the full stream

    of media that a user sees as they are going through the purchase

    funnel and interacting with content. Data-driven attribution helps

    marketers know what pieces of content or media elements are really

    responsible for someone converting, and to what degree.

    MODERN MARKETING PERFORMANCE MANAGEMENT

    14 © 2014 Demand Metric Research Corporation. All Rights Reserved.

    Marketers understand that different aspects of a media campaign

    have different goals. Early in the campaign, the goal is usually

    awareness, which other elements harvest later in the campaign.

    Because of these differences, marketers need to consider the whole

    stream of media through the dimension of time, as buyers are

    consuming it. Using data-driven attribution, fractional credit for

    conversion is allocated to those media elements that are

    tangibly responsible for helping drive someone toward

    conversion.

    Marketers can now know which ad units were responsible for

    conversion and how far out they were seen from the conversion

    event. They can identify the media elements that were “promoters”

    – moving interested prospects toward conversion, and of course,

    which media element(s) had the greatest influence on conversion.

    Data-driven attribution provides marketers with accurate and

    actionable marketing data.

    Best Practices Report: 21st Century Marketing Manifesto

  • Data-driven attribution isn’t difficult to understand, but it represents

    a change in thinking and a new way of getting clarity on what’s

    happening within a marketing campaign. Last touch attribution is a

    faulty way of measuring results, providing a false sense of precision.

    Data-driven attribution provides clarity on exactly what’s

    happening with a marketing campaign, enabling marketing to

    make better decisions which leads to better strategies and

    tactics to improve response and conversion rates.

    Not Your Father’s Marketing Method

    In this age of rapid commoditization of products, democratization

    of information and with consumers controlling how much

    marketers can influence their decision process, advanced, data-

    driven attribution creates a strategic advantage.

    What hasn’t changed in this modern marketing era is that marketing

    success depends on its ability to drive awareness, interest, desire and

    ultimately action. What has changed is this process occurs in a

    more complex environment, across multiple channels, devices

    and at greater velocity. The internet has changed almost every

    15

    aspect of the marketer’s workbench, things like speed, reach,

    targeting and complexity. The sands of the marketing landscape are

    shifting under the marketer’s feet, requiring tremendous agility.

    In the old way that marketing executed campaigns, conversion

    credit usually went to the bottom of the marketing funnel activities,

    with top-of-funnel activities getting little or no credit.

    Data from the bottom of the funnel has always been easier to get.

    Making campaign decisions on this data leads to heavier and heavier

    investment in demand harvesting.

    This produces some short-term results, but the pendulum

    ultimately swings too far to demand harvesting, causing

    marketing results to shrink for one simple reason: too little

    awareness building is occurring. When this realization sets in,

    the pendulum swings the other way, often too far toward awareness

    building, because decisions about where to invest the marketing

    spend are simply reactions after-the-fact to dwindling results.

    © 2014 Demand Metric Research Corporation. All Rights Reserved.

    Best Practices Report: 21st Century Marketing Manifesto

  • Real-Time Marketing Measurement

    Without the data an data-driven attribution solution provides, marketing organizations will continue to ride the pendulum between demand

    harvesting and awareness building, sometimes coming close to the ideal balance, but always guessing and often erring.

    Even when a marketer gets the balance right, it’s always temporary because the optimal media mix is a moving target, and the old ways of

    managing campaigns is analogous to driving forward by looking in the rear-view mirror. Having an attribution platform in place that

    measures how everything is working in real time produces better results and creates a significant competitive advantage.

    Without the data an data-driven attribution solution provides,

    marketing organizations will still find themselves riding the

    pendulum between demand harvesting and awareness building,

    sometimes coming close to the ideal balance,

    but always guessing and often erring.

    © 2014 Demand Metric Research Corporation. All Rights Reserved. 16

    Best Practices Report: 21st Century Marketing Manifesto

  • As Data-driven attribution sounds great conceptually, but how real is it? Concepts, while interesting, can only deliver value when they

    become real. As a solution, data-driven attribution is just beginning to emerge from the “early adopter” stage of the solution lifecycle. While

    adoption is not yet widespread, there are organizations like Bluestem Brands that are using it, and there is much to learn from their experience.

    Bluestem Brands: Advanced Attribution Case Study

    Bluestem Brands, Inc., a top 100 retailer, is headquartered in suburban Minneapolis, and is the parent to three fast-growing eCommerce retail

    brands: Fingerhut®, Gettington.com® and PayCheck Direct®. Scott Holthaus is the Digital Marketing Manager at Bluestem, and when he took

    his current position in 2013, he encountered some confusion in the business about how consumers were interacting with the brands across

    channels. His first objective was to try to understand the incremental contribution of each channel to the results of any and all

    marketing campaigns.

    The Bluestem culture is very data-centric, and a test-and-learn mentality prevails in the company. This culture created an ideal environment for

    Holthaus as a digital marketer because data-driven attribution appeals directly to that data-centric culture and provides the holy grail of

    marketing measurement efforts: a precise understanding of how the company’s digital media is impacting incremental sales lift.

    Before Bluestem began implementing the Adometry attribution platform, last click or last touch methodology was used in some

    makeshift models surrounding the use of catalogs. Bluestem historically was a big catalog retailer. Now, more than half of the purchase

    activity is online. Today, when someone purchases online, they have the opportunity to enter a catalog number. If they do, the catalog channel

    gets 100% credit for the sale, even though other channels influenced the purchase.

    PRACTICAL ATTRIBUTION APPLICATION

    17

    Best Practices Report: 21st Century Marketing Manifesto

  • When Holthaus joined the Bluestem team, he noticed that media

    decisions and budgeting was based on the last click attribution

    model. Simultaneously, one of the CFO’s objectives was greater

    efficiency in media spending, so the company had pursued figuring

    out the ideal media weight as a top priority over the previous 18

    months. The last click attribution model made it difficult to

    determine the ideal media weight with any precision.

    Holthaus brought to Bluestem his experience using data-driven

    attribution from a previous employer. He understood the

    importance of knowing the fractional attribution rate of the

    full media stream, so he knew that to fully leverage its media

    spending Bluestem needed data-driven attribution to optimize

    the marketing spend. Holthaus states:

    “As a digital marketer, this was one of the most

    important things for us to look at. It’s exciting as a

    marketer to understand what’s driving the

    incremental impact. Without a data-driven

    attribution model, Bluestem could not get to a level

    of granularity of how media is working together in

    real-time.”

    18

    Holthaus has several industry peers as acquaintances, many in

    prominent retail organizations. When he asks them about

    attribution, he’s learned that many of these companies aren’t there

    yet and are using last click/last touch models, if they’re doing

    anything at all. The experience that Holthaus has with data-

    driven attribution has helped him position Bluestem ahead of

    its peers in understanding how each element in the media

    stream is performing and what is the ideal media weight.

    Data-driven attribution was not difficult to justify at Bluestem.

    Holthaus explains:

    “Our CFO is very involved in understanding the

    major industry trends. When I arrived, he was

    already aware of data-driven attribution and had

    inquired about. Bluestem is very focused on results

    and understanding data, therefore,

    it was not a hard sell.”

    Best Practices Report: 21st Century Marketing Manifesto

  • Implementation is also going smoothly.

    “The technology side isn’t that bad. I expected it to be harder, but most of the work is

    pixel implementation or tagging. Implementing tags across channels hasn’t been as difficult

    as it might sound. The process has gone smoothly, better than I expected.”

    Because data-driven attribution is an emerging solution, Holthaus expects most marketers to question the metrics and attribution methodology,

    to have some skepticism. Holthaus concludes:

    “I have seen the data-driven attribution methodology and I believe in it.

    It is the right way to look at attribution. It shouldn’t be too difficult for people to get it.”

    19 © 2014 Demand Metric Research Corporation. All Rights Reserved.

    Best Practices Report: 21st Century Marketing Manifesto

  • SUCCESSFUL MARKETING LEADERSHIP

    It wasn’t so long ago that the Chief Marketing Officer (CMO)

    was the shortest tenured executive in the C-suite. The too short

    job span of a new CMO was often about 18 months. A new CMO

    would replace a fired one who failed to get results. The new CMO

    would spend about six months at the front-end figuring out what to

    do, often by intuition since there were no systems in place to

    provide clear insights, another six months launching initiatives, and

    a final six months looking at results. If the plan worked, the CMO

    remained employed. If not, the revolving door to the CMOs office

    would spin again.

    A quantum shift is occurring for CMOs. They are taking more

    control of their destiny by becoming more analytical. Data-driven

    attribution is playing a key role in the renaissance of the CMO,

    providing a comprehensive media performance platform that gives

    insights not previously available. With these insights, CMOs are

    achieving measurable results that are transforming the

    marketing team into a revenue-generating center.

    Data-driven attribution also has some serious competitive

    implications. In really competitive markets with lots of digital

    media, companies not using data-driven attribution will suffer at the

    hands of competitors who are. Those competitors will have

    clarity of insight about where conversion credit belongs.

    Those not using data-driven attribution will buy media that

    doesn’t necessarily work, while their smarter competitors will

    buy only what’s working. This inevitably leads to a tipping point

    in any industry where the few that are ahead of the adoption curve

    will accelerate their growth at the expense of companies that aren’t

    using data-driven attribution.

    Data-driven attribution is playing a key role in the

    renaissance of the CMO, providing a comprehensive

    media performance platform that gives insights not

    previously available.

    20 © 2014 Demand Metric Research Corporation. All Rights Reserved.

    Best Practices Report: 21st Century Marketing Manifesto

  • In light of the current pressure on marketing to generate revenue

    and have accountability, these are the imperatives for today’s CMO:

    Marketing Checklist

    Get a holistic view. When media performance data does exist,

    it’s often in silos. Getting a complete view of this data is the first

    step to understanding media performance and optimizing it.

    Define the metrics. Marketing must have a set of unified

    metrics to evaluate its performance on a fully attributed,

    contributed value basis – a true apples-to-apples comparison.

    Think beyond digital. It’s easy to think of data-driven

    attribution as just a digital marketing measurement solution. In

    the real world, campaigns often blend offline media with digital

    to produce conversions. The capabilities and benefits of data-

    driven attribution are not limited to just digital media.

    Invest to win. Use the insights gained from the implementation

    of data-driven attribution to optimize channels in the media

    stream, as well as tactical optimization within each channel.

    21 © 2014 Demand Metric Research Corporation. All Rights Reserved.

    Operationalize the results. Data-driven attribution will provide

    a new view of marketing performance. This view should

    influence how not just marketing, but also the entire organization

    functions. Integrate the results into the budgeting and forecasting

    processes, as well as the marketing technology stack.

    Address the elephant in the room. Data-driven attribution can

    help you know what to do about the mobile channel, the

    marketing juggernaut about which many marketing organizations

    have their heads buried in the sand. Organizations that don’t yet

    have a plan for the mobile channel – and any other channel they

    don’t know what to do with – can use attribution insights to

    develop a sound strategy.

    Marketers in any size company are realizing that

    data-driven attribution provides a powerful

    mechanism to understand incremental sales lift from

    each channel, optimize the media mix and turn

    marketing into a true revenue-generating center.

    Best Practices Report: 21st Century Marketing Manifesto

  • Jerry Rackley, Chief Analyst

    Jerry Rackley is Chief Analyst at Demand Metric. His 30-year marketing career began at IBM, and

    includes experience in the technology and financial services sectors.

    He has worked with companies ranging in size from startups to members of the global 1000, performing

    marketing, marketing communication, public relations and product management work.

    ABOUT THE RESEARCH ANALYST

    © 2014 Demand Metric Research Corporation. All Rights Reserved. 22

    Best Practices Report: 21st Century Marketing Manifesto

    https://www.demandmetric.com/users/jerry1

  • OUR BEST PRACTICES REPORT METHODOLOGY

    Demand Metric’s Best Practices Reports investigate new developments and approaches in a given focus area to provide marketers with up-to-

    date, practical and efficient solutions to modern day challenges. Each guide identifies a challenge, discusses previous solutions to that challenge,

    presents new solutions based on in-depth research and suggests a recommended approach to implement new solutions.

    Each Best Practices Report involves hours of analyst research, focus area specific surveys and comprehensive interviews with executives in a

    given focus area in order to recommend solutions for the presented challenges.

    © 2014 Demand Metric Research Corporation. All Rights Reserved. 23

    Best Practices Report: 21st Century Marketing Manifesto

  • ABOUT ADOMETRY BY GOOGLE™

    Adometry by Google™ transforms the way the world’s top brands improve marketing performance. Acting as marketing's “system of record,”

    Adometry solves the complex challenge of integrating, measuring and optimizing marketing performance across all channels (online & offline).

    Combining and interpreting previously silo’d sources of data; the Adometry Marketing Intelligence Platform provides data-driven attribution,

    modern marketing mix modeling, and intelligent optimization recommendations across and within channels. As a result, marketers are able to

    identify their true impact on the customer journey and generate actionable insights that improve ROI.

    For more information, visit www.adometry.com.

    © 2014 Demand Metric Research Corporation. All Rights Reserved. 24

    Best Practices Report: 21st Century Marketing Manifesto

    http://www.adometry.com/http://www.adometry.com/http://www.adometry.com/http://www.adometry.com/http://www.adometry.com/

  • © 2014 Demand Metric Research Corporation. All Rights Reserved.

    ABOUT DEMAND METRIC

    Demand Metric is a global marketing research & advisory firm serving a membership community of over 35,000 marketing professionals,

    CEOs, and business owners with advisory services, custom research & benchmarking reports, vendor studies, consulting methodologies,

    training, and a library of 500+ tools and templates.

    Using Demand Metric resources, members complete projects faster and with greater confidence, boosting respect for the marketing team

    and making it easier to justify needed resources. Our 1,000+ clients range from start-ups to members of the Global 1000.

    TO LEARN MORE ABOUT DEMAND METRIC

    To discover how Demand Metric can help you become more strategic, please visit us online at www.demandmetric.com

    CLIENT SUPPORT

    For information, inquiries and general support, please contact us toll-free at +1 866 947 7744, or [email protected]m

    We offer discounts for academic and nonprofit institutions, provide group memberships and license our content to associations and large

    enterprises for use on corporate universities and intranets.

    Best Practices Report

    http://www.demandmetric.comhttp://www.demandmetric.comhttp://www.demandmetric.comhttp://www.demandmetric.comhttp://www.demandmetric.com