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Marketing Analytics in Theory - Coggle Diagram
Marketing Analytics in Theory
Digital Marketing Maturity
Nascent: have basic digital presence, maybe a website and some social media accounts, but no clear strategy or data analy
Emerging: start using data to inform decisions, optimize campaigns, and build a more cohesive strategy.
Connected: break down silos between departments, integrate data across channels, and personalize experiences for customers.
Multi-moment: At the top, you become digitally fluent, anticipating customer needs at every touchpoint and dynamically adapting your marketing efforts in real-time.
Attribution
MMMs struggle with the nuances of digital Privacy, industry shifts have affected MTA value
MMMs, MTAs are methods used in assessment
Assessing across platforms has been difficult
Analysts can still make informed decisions
Customer value
Customer value aids bidding, attribution
Understanding customer value aids targeting
Optimizing over time is a key benefit of LTV
Different consumers have different value
Nearly any consumer action is a measurable
Analytics and Dataviz Tools
One element of the framework is data flexibility
The framework exposes three types of tools: enterprise packages, point solutions, and analytics utilities.
The two criteria of data density and usability provide a powerful framework for evaluating the market
The Issue of Privacy
Consumer concerns motivate privacy policy
Policy makers continue to advance legislative
Evaluating The Tool Landscape
Ease of use is the second element of the framework
Kaushik's “10/90 Rule” reinforces the idea of 10% for tools and 90% for analysts
Each quadrant gives direction to analysts depending on the public position
The framework uses the same password data and calculations to clarify which tools to use to help analysts know which tools to keep and which tools to ignore
There is no tool more important than the analyst
Brand Measurement
Brand health complements sales
enhancement measures
Brand equity metrics assess market, brand and product perceptions as well as relationships with consumers( brand awareness, Ad recall, consideration, Favorability, Purchase Intent)
Several methods can be used to value a brand (attribute evaluation, brand equity, brand valuation, algorithm, youth trust, net promoter score)
Consumer Outcomes
Results measure the impact of marketing such as sales volume, market share.
Measuring the CPG industry is challenging for brands that have direct relationships trying their best to track offline behavior
Location data is often important for measurement
:Digital DataInfrastucture
Cookies, tags, login allow data collection
There is no digital solution that measures the entire journey
Appropriate design of measurement studies is key
Companies have built businesses around data collection and measurement
Measurement enables business growth