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Marketing in a slowdown | The Economic Times, 22 jan 2020
Women held back by marketing's gender pay gap | Marketing Week, 22 jan 2020
Brand advertising is broken. Here's why. | The Drum, 22 jan 2020
How To Retool A Marketing Team | Forbes, 21 jan 2020
How Retailers Are Turning Plastic Bag Bans Into a Branding Opportunity | Adweek, 21 jan 2020
Traditional PR doesn't work anymore. Here's how to make it more effective | The Business Journals, 21 jan 2020
How retailers can use marketing automation to create lasting customer loyalty | Retail Customer Experience, 21 jan 2020
Do rural consumers trust mass media advertising? | Rural Marketing, 20 jan 2020
Rampant consumer behavior may lead to tragic end | The Laconia Daily Sun, 20 jan 2020
How advanced data analytics will continue to streamline digital marketing strategy in 2020 | MarketingTech News, 17 jan 2020
Analytics & Research
Mohammad Anas Wahaj | 10 dec 2019
Customers are at the core of any business. No one can think of products and services without thinking of their buyers. Profits are made with happy customers because they continue to buy products and services from those companies and organizations that keep them satisfied. They also recommend to others what they themselves like. For organizations to become truly customer-centric it is essential to create a customer oriented mindset and at the same time develop procedures and actionable tools to provide best possible customer service. This would also involve continuous training and learning on the part of customer service executives and workers. As the customer behavior changes over time with technologies so should the interactive behavior of customer service personnel to adapt to changing scenarios. But above all, the personnel who deal directly with customers should keep the care of customers in their mind and behavior at all times. Organizations should develop a proper framework for customer service excellence. Read on...
Mohammad Anas Wahaj | 29 nov 2019
Traditional market research involves quantitative methods like group surveys or self-reporting to obtain valuable data, but to get the whole story, Prof. Rebecca Rast of marketing department at Missouri State University, has embarked upon a new methodology of research that utilizes iMotion software technology and uses facial expression analysis to develop a deeper understanding into the complexity of human behavior in the marketing field. iMotion technology captures physiological reactions, such as how humans think, feel, act and respond, in real time and helps to quantify engagement and emotional responses. The software can measure seven core emotions: joy, anger, fear, disgust, contempt, sadness and surprise. Prof. Rast says, 'I'm continuing to think of other applications I can use the software for to continue to look at marketing behavior...If I can share it with my students so they understand the outcomes, then I can apply it right back into the classroom when it comes to topics such as consumer behavior.' Read on...
Mohammad Anas Wahaj | 18 aug 2019
Startups are enabling tech-based transformation of India's retail sector through Android-based smart PoS (Point of Sale) devices. The promise of these devices goes beyond payments and makes supply chain more efficient with data analytics and potential credit scoring. Vicky Bindra, CEO of Pine Labs, says, 'Retailers and merchants from diverse sectors such as electronics, food and beverage, fashion, pharmacy, telecom, and airlines are adopting the new smart PoS machines to improve their efficiencies and enhance consumer's shopping experience.' Praveen Hari of industry association iSPIRT says, 'Today a smart PoS device is not just accepting cards, but they can also provide UPI (unified payments interface) pull transactions, QR codes (displayed on screens), NFC (near-field communication) transactions, wallet transactions, or basically, any payment mode that is available in India.' Ashish Jhina, co-founder of Jumbotail, says, 'Today smart PoS machines can do four key business functions: payment, billing, inventory management, wholesale procurement.' Smart PoS data is also valuable for credit scoring. Mr. Hari explains, 'The GST data itself is good enough for a lender to make a lending decision and the shopkeeper or his FMCG distributor now has an incentive to report all the transactions. The transaction data itself can help a lender make a lending decision.' Manish Patel, CEO of Mswipe, says, 'We have engineered a credit model where when our merchants can borrow money (to make wholesale purchases) from any of our NBFC partners, based on data we provide...In terms of recollection, the merchant can opt to pay back in daily and monthly instalments.' Read on...
Wireless, smart PoS devices revamping India's retail landscape
Author: Salman S. H.
Mohammad Anas Wahaj | 29 jun 2019
Collecting the right customer data and then understanding it to create usable insights is the key to e-commerce analytics success. But, implementing an effective and efficient analytics strategy and selecting the best tools and solutions from among many that are available in the market is no easy task. Ateeq Ahmad, consultant and founder of Albany Analytics, provides a set of ideas and road map to build an e-commerce analytics solution that would finally be used for predictive analysis. Mr. Ahmad outlines the process flow as - (1) Setting up data collection within current data sources. (2) Merging all data sources into one platform and automate such a collection. (3) Analyzing patterns in these datasets to build reports and dashboards based on KPIs. (4) Based on past behavior of customers, create prescriptive and predictive analytics around key metrics and goals. Data that is collected should include transactional data, social interactions and offline customer data. At the stage of merging all data sources into one central repository there are two possible methodologies - build own data warehouse or buy it from market. Of course, there are trade-offs involved in this selection. The best option seems to be to go initially for an available data merging tool, as it is cost effective, and then once sufficient experience and ROI is obtained graduate to build it in-house. Analyzing data and translating it into valuable business speak that paves the way for data-driven decision making is an essential part of successful analytics implementation. To provide right and timely predictive analyses it is critical to have an analytics team with strong data science expertise. Read on...
Mohammad Anas Wahaj | 09 may 2019
Ad-free environment is an expected reality with subscription-based models, ad blocking tools and alternatives to traditional media already available. Marc Pritchard, chief brand officer at Proctor & Gamble, predicts that we're evolving into a 'world without ads' as brand engagement with customers changes with technology and consumer requirements. Gary Ellis, Co-founder and COO of Remesh, explains how branding will shift and survive in this ad-free environment. He says, 'There are infinite possibilities for filling the void left by traditional advertising. Success will depend on translating traditional advertising insight into new engagement tactics. Advertisers will need to focus on how they can fit themselves organically into their customer's experience, rather than disrupting a customer's experience as is often associated with traditional advertising.' He adds, 'Consider what is central to the brand building experience, which ranges from embedding tech in products to targeted ads. Pritchard predicts an increased desire for personalization, an interest in learning about a brand's values and more brand experiences. This means a brand's ability to connect with people on a human level plays an even more critical role in this new engagement paradigm. An emotional function will serve as the main connector, and one that can come in many forms.' He further explains, 'Targeted advertising is about two things: relevant content and demonstrating comprehension of customer needs. It stems from the desire to be 'helpful' – providing an audience with the information they need so that they can quickly and easily find what they are looking for. In an ad-free world, what were once targeting challenges can be avoided. This means not just focusing on personalization, but context.' Read on...
How Will Branding Survive In A 'World Without Ads'?
Author: Gary Ellis
Mohammad Anas Wahaj | 09 apr 2019
According to the recent report 'India Digital Ad-fraud Market 2018' by techARC, the total size of digital ad-fraud in India stood at staggering US$ 1.63 Billion, which is 8.7% of the global size. The report projects 23% increase in digital ad-fraud in 2019. Digital Commerce contributed more than half 51% of the total ad-fraud in India. While, Leisure & Travel (26%), Entertainment & Gaming (13%), Banking & Finance (8%), Healthcare & Pharma (1%) and Others (1%). Although, App Fraud contributes to over 85% of the total digital ad-fraud, the organizations should not ignore the web platforms. Web platforms are more susceptible to frauds as in several organizations the digital teams are primarily focusing on the app, leaving the web space vulnerable. As video is increasingly becoming the preferred medium of content, it is also attracting fraudsters to exploit this advertising channel. The report finds that businesses who have an ad-fraud solution in place are better equipped to have higher levels of customer engagements. Faisal Kawoosa, Founder & Chief Analyst at techARC, says, 'Digital ad-fraud is getting increased attention from the C-level leadership of evolved organisations, where it is no longer an agenda of a CDO or CMO. The impact of digital ad-fraud now goes beyond diminishing the returns on marketing spends and can jeopardize the entire digital transformation journey hampering Brand Equity, Relevance and Positioning among other ramifications.' Read on...
Mohammad Anas Wahaj | 03 mar 2019
Scot Henney (GVP of sales at SAP) and Marcus Venth (GVP of market development at SAP) discussed the importance of customer experience in the digital age with John Furrier and Dave Vellante, co-hosts of theCUBE at IBM Think event in San Francisco, US. Mr. Henney says, 'A new customer-experience domain is open up called the "experience economy". It brings the front office and back office together and adds in "experiential data" on end-users.' As more companies shift from products to subscription-based services, customer-experience becomes crucial. Digital provides more power to consumers and ease of switching brands. Customer feedback becomes valuable. According to Mr. Henney, '80% of customers have switched brands because of poor CX (customer experience) and companies that deliver better customer experience have more than 200% more shareholder value.' Mr. Venth adds, 'The 360 customer view that leads to stellar CX is not achieved with applications, data and professionals in silos. One of the biggest challenges we see [is]...where we have a highly customized environment with lots of disparate applications that really are poorly integrated.' Read on...
Analytics mine consumer brains in new 'experience economy'
Author: R. Danes
Mohammad Anas Wahaj | 28 nov 2018
For the success of businesses a solid foundation or strong core is necessary and then only innovative strategies, tactics, programs and technology that are applied will be impactful and bear fruits. Scott Vaughan, CMO of Integrate, suggests the focus on achieving the revenue marketing goals and provides five essentials that high-performing B2B marketing teams consistently focus on to drive high performance - (1) PRECISION - Accurately defining ICP (Ideal Customer Profile) and identifying best account opportunities: Engage the right audiences; Avoid random marketing to general people; Identify smaller group of core audience; Use advanced tech such as predictive marketing and intent data modeling to identify more of the best accounts and buyers. (2) TRUST - Committing to permission-based marketing in an increasingly regulated world: Treat information with care; Ensure the understanding and fulfillment of data-privacy laws; Permission mindset builds trust. (3) HYGIENE - Generating quality, actionable data to drive performance and create experiences: Recent survey by DemandGen Report finds, on average, more than 35% of the data in existing databases is unmarketable. Use effecient data hygiene; Bad data wastes marketing and sales efforts; Audit data-capture processes and sources, and use data governance filters before data enters database. (4) SPEED - Increasing velocity makes everything perform better: Current processes and tech investments need to have a speed evaluation; Identify areas where data can be routed faster and action can be taken within an appropriate time; Watch closely 'pipleline velocity' (Time from when an opportunity identified and finally converted into a deal) (5) INSIGHTS - Measuring to understand the good, the bad and the ugly: High-performing marketing teams use insights with key ingredients like agreed-upon key performance indicators (KPIs), tools that can measure performance, easy-to-use shared dashboards for all stakeholders (marketing, sales, management etc). Read on...
5 essential strategies B2B marketers must master in 2019
Author: Scott Vaughan
Mohammad Anas Wahaj | 26 nov 2018
In today's businesses, digital is one of the critical component that defines their growth and success. With digital and related analytics, organizations can easily track and create insights to better understand consumer behavior for their benefits. Gabriel Shaoolian, founder of DesignRush, provides valuable statistics in marketing, website design and branding for efficient online strategy and subsequent online success - (1) By 2021, mobile e-commerce will account for 54% of all online sales. (2) 38% of users will stop interacting with a website if the layout is unattractive. (3) Long landing pages generate up to 220% more leads than above-the-fold calls to action. (4) Color improves brand recognition by up to 80%. (5) Consistent brand presentation across all platforms increases revenue by up to 23%. (6) 64% of consumers say that shared values help them create a trusted relationship with a brand. (7) Content marketing efforts receive three times the leads per dollar spent than paid search receives. (8) 64% of consumers make a purchase after viewing a branded social video. (9) Facebook Ad revenue in the US will surpass total print ad spending by 2019. (10) Email has a median return on investment of 122%. Moreover, he suggests the following key points to be noted for digital strategy - Create an easy-to-use website that works on all platforms and devices; Design a memorable brand identity that communicates well with consumers; Maintain an honest and transparent relationship with customers; Invest in content marketing and social media advertisements; Test video marketing campaigns to engage users; Don't forget about the power of email marketing. Read on...
Mohammad Anas Wahaj | 30 oct 2018
When one thinks of marketing, Northwestern University Professor Philip Kotler's name comes right at the top. He is author of the most used marketing texbook in business schools, 'Marketing Management: Analysis, Planning, Implementation and Control', alongwith another 57 books on the subject. Speaking with Paul Talbot, President of a marketing strategy firm Southport Harbour, Prof. Kotler shares his views on the role of CMOs (Chief Marketing Officer) in today's business organizations. Regarding their skills and talents, he says, 'In the 1960s, marketers were hired for their flair for advertising and creativity...Today, we need CMOs with a different skill set. CMOs must be expert at digital marketing...Information and mathematics are crucial. Companies need in-depth information about their customers’ individual beliefs, values, media consumption and channel choices. Marketers today use multiple regression analysis, cluster analysis, discriminant analysis, and predictive analytics to yield customer insight. Marketers increasingly make investments in...social media. CMO has to have good creative marketers on the staff to bring up bright new ideas. The tech approach to marketing is more about efficiency. Marketing creativity and imagination is about winning big.' Regarding collaboration between between marketing teams and others in the organization, he says, 'Back in the 1960s, companies didn’t have a CMO. They had a powerful vice-president of sales who was the driving force. They had added a vice-president of marketing whose job was primarily managing marketing research and preparing advertising and sales promotions...The chief marketing officer concept emerged as markets grew more complex and competitive...who would participate in finding and shaping what the company should produce, in identifying the target markets, and evaluating the overall company strategy...CMOs need to be effective in the following relationships: ...The CMO had to 'carefully' educate the CEO to understand marketing's potential and limitations; ...the CMO and CFO would work together to find and agree on the best way to measure the return on marketing spend; ...I view R&D people to be the masters of what is possible. I view marketers to be the masters of what is valuable; ...If those two executives (CMO and VP of sales) don't get along, the company’s financial performance is doomed.' Read on...
Northwestern Professor Philip Kotler On Today's CMO
Author: Paul Talbot
Mohammad Anas Wahaj | 30 aug 2018
According to experts, effective use of data is key to B2B marketing success as it offers precision targeting, better customer experience and personalization at scale. Bernard Tan, APAC Regional Marketing Director at Red Hat, doesn't consider marketing as just B2B or B2C, but prefers it to be 'business-to-all'. He says, '(Data) is transforming the way that we talk to whole markets...it's transforming the way that we can actually have one-to-one conversations in volume markets, and be much more efficient about the way we go to that market...All of us are consumers...We are now at this position where we are now able to start to drive engagement at an individual level and really focus on the customer.' According to IBM's 2017 Customer Experience Index study, APAC (31) scored lower than other regions when it comes to data-driven customer experience in the B2B space [North America (35), Europe (33) and Latin America (33)]. Jodie Sangster, CMO liaison lead of IBM Watson, says, 'Unfortunately in APAC, we are lagging behind in terms of meeting consumer expectations of how we are using their data and delivering great customer experience.' Read on...
Data is key for B2B marketers, but APAC lags behind
Mohammad Anas Wahaj | 29 jul 2018
According to the latest research by Stanford University business academics, Prof. Navdeep Sahni and Prof. Harikesh Nair, people are very good at distinguishing native advertisements from digital content, but the ads still exert significant influence on shopping behavior. Native advertisements blend with the digital content and closely match style and layout of the surrounding media. Regulators are often concerned regarding their deceptive sponsorship disclosure and the resulting misguided purchases by consumers. Prof. Sahni says, 'Native advertising is a relatively new form of advertising. Advertisers and publishers have embraced this because of the rise in mobile browsing behavior, and because banner ads are hard to implement on mobile screens, and are known to be not very effective.' Professors developed a field experiment in which they manipulated how native advertising for specific restaurants appeared on a restaurant search mobile app, creating two 'extreme' ad presentation conditions (no-disclure and prominent-disclosure) to compare to a more typical native ad. The study examined differences in how over 200000 users responded to the varied presentations and found that responses to typical native ads were similar to those in the full-disclosure condition. Prof. Sahni adds, 'We found that people who respond to the ad can spot this kind of advertising in its typical format...The effect of advertising seems to happen through direct exposure and can result in conversion even if people don't click on the ad itself.' The study suggests that because consumers who are more likely to be affected by ads can identify typical native ads easily, making the ads more prominent is unlikely to change people's behavior. For consumers, implications of the study are that even in a time of advanced analytics, ad exposure continues to have a deeply subtle, and thus harder-to-quantify, effect. Read on...
Mohammad Anas Wahaj | 23 may 2018
Utilizing customer data to understand consumer behavior through analytics tools is key to improve products and services, and finally gain and retain customers. Restaurant and fast food industry is customer intensive with direct interactions with them. Restaurant sales were approximately US$ 800 billion last year and continue to grow. With hightened competition and increasing customer expectations it becomes challenging to serve what customer wants and keeps coming back for more. Advanced analytics can come to the rescue in this regard. Quick Service Restaurant (QSR) industry has low average ticket value, customer visit frequency is higher and cyclical, size of the meal matters and customer tastes don't vary that much. The restaurant industry's main goals remain - increase meal size, increase guest frequency and decrease customer lapsation. In today's environment, customers are digital-savvy and restaurants have their data. The value is in gaining actionable insights from this data that positively impact the Net Promoter Score (NPS). Here is what some restaurant chains are doing in this regard - (1) Identified taste affinity clusters: Created various segements of customers and looked at their past purchase behavior to identify taste preferences. (2) Buying behavior analysis: Looked at purchase behavior across different channels to identify which menu items can be added to the combo for someone that orders (mobile vs visit). Used advanced analytics to get a single view of the customer by integrating their POS, mobile, web and social data to identify the customer and hence provide consistent messaging. (3) NPS and Feedback Analysis: Integrated feedback received across all channels and layered it up with sentiment analysis. Customers were given lapsation score and offers were targeted accordingly. (4) Store location analysis: Used predictive models to identify the probability of a new store succeeding in a specific location vis-à-vis another store in the same area. They identified pockets of demand and the model prescribed a set of potential locations in a given geographic area. This data was used to score and rank comparable locations. Read on...
Mohammad Anas Wahaj | 28 feb 2018
Measurement and analysis of marketing data is becoming critical for understanding the effectiveness of marketing initiatives. The insights help in focusing efforts and money in the right direction. Marketing analytics tools and technologies continue to advance. David Sanderson, CEO of Nugit, explains what will be driving marketing analytics in 2018 and how marketers can keep pace with them - (1) Marketing analysts will need to use many new data sources: Combining data from internal data repositories with other sources like Google Analytics, SEO platform, CRM, Email, Social Media, Chat applications etc will provide better insights that will help to drive consumer interest, optimize pricing, and deliver an improved customer experience. Now analysts must also identify where important data resides, determine what needs to be extracted and devise a strategy for using new data sources to drive business decisions. (2) Artificial Intelligence (AI) will be essential for analytics: Speed of incoming data in large volumes make it difficult for human data analysts to process it effectively. In such a scenario, machine learning and AI tools come to the rescue and help analysts find patterns in customer data, elicit recommendations for optimizing performance, and allow non-professionals to access complicated analytics using simple language. (3) Analysts will become storytellers: Usual data analyst skill like SQL, Excel, business analysis etc, crunching data and making reports will not suffice now. Analysts have to do more - Obtain data from non-traditional sources; Clean data with programming languages such as Python; 'Polish' the data using data visualization tools and create attractive charts and graphs; Transform data into easy-to-understand stories which help non-analysts understand emerging trends and opportunities. Read on...
The three trends driving marketing analytics in 2018
Author: Jeff Rajeck
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