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We live in budget-cutting times, and marketing budgets are amongthe first to get cut. Why? When non-marketing executives take ahard look at the numbers, they often can't see a tangible linkbetween marketing and overall revenue. So if you're a marketertoday, you're probably facing the need to do more with less,justify all investments, show results, and still beat thecompetition. The secret to this balancing act is having—andcorrectly using—the numbers.
Data-Driven Marketing uses simple, non-technical languageto help you to master the latest analytical techniques whilemaximizing your Return on Marketing Investment (ROMI). You'll takeyour marketing performance to the next level as you discover:
Every marketing department is under pressure to deliver, butsome will thrive and some won't. Data-Driven Marketingprovides top-to-bottom coverage of what works, what doesn't, andwhat makes the difference in this important but misunderstood area.Pick up this essential guide today and you'll not only come out ontop, but know (and measure) the reason why.
DOWNLOADABLE ROMI RESOURCES XIII
PART I Essentials 1
CHAPTER 1 The Marketing Divide: Why 80 Percent of CompaniesDon't Make Data-Driven Marketing Decisions—And Those Who DoAre the Leaders 3
The 15 Essential Marketing Metrics 7
Case Examples 9
Marketing Budgets: Key Differences between the Leaders and theLaggards 17
Using Marketing Metrics to Weather Difficult Economic Times20
The First Step: Defining the Data-Driven Marketing Strategy22
Chapter Insights 25
Case Examples: Best Buy, Porsche Turbo Cabriolet Launch, DuPontTyvek NASCAR
CHAPTER 2 Where Do You Start? Overcoming the Five Obstaclesto Data-Driven Marketing 26
Overcome Obstacle 1: Getting Started—Focus on Collectingthe Right Data and Create Momentum by Scoring an Easy Win 28
Overcome Obstacle 2: Causality—Conduct Small Experiments33
Overcome Obstacle 3: Lack of Data—Strategies for ObtainingCustomer Data 35
Overcome Obstacle 4: Resources and Tools—Build theInfrastructure for Data-Driven Marketing 39
Overcome Obstacle 5: People and Change—Create aData-Driven Marketing Culture 44
A Road Map for Implementing Data-Driven Marketing 49
Chapter Insights 51
Case Examples: Royal Bank of Canada, Walgreens, ContinentalAirlines, Harrah’s Entertainment
CHAPTER 3 The 10 Classical Marketing Metrics 52
Linking Marketing Activities to Metrics 53
A Balanced Scorecard for Marketing 62
Facing the B2B Measurement Challenge 67
Chapter Insights 71
Case Examples: MasterCard FIFA Sponsorship, Microsoft OEMComarketing
PART II 15 METRICS TO RADICALLY IMPROVE MARKETING PERFORMANCE73
CHAPTER 4 The Five Essential Nonfinancial Metrics:#1—Brand Awareness, #2—Test-Drive, #3—Churn,#4—Customer Satisfaction (CSAT), and #5—Take Rate75
Shaping Perception: Metric #1—Brand Awareness 75
Comparative Marketing: Metric #2—Test-Drive 87
Loyalty Marketing: Metric #3—Churn 91
Customer Satisfaction: Metric #4—CSAT 96
Campaign Effectiveness: Metric #5—Take Rate 99
Chapter Insights 103
Case Examples: Philips Consumer Lifestyles, Navistar America'sGreenest School, Porsche First Mile, Intel, Ray-Ban, Lexus, DentalCare Partners, DSW Shoe Warehouse Downloadable Excel Templates:Churn, Take Rate
CHAPTER 5 Show Me the ROI! The Four Essential FinancialMetrics: #6—Profit, #7—Net Present Value (NPV),#8—Internal Rate of Return (IRR), and #9—Payback104
Metric #6: Profit 105
Finance for Marketing Managers: Metrics #7—NPV,#8—IRR, and #9—Payback Defined 106
Return on Marketing Investment (ROMI) Framework for ManagementDecisions 115
ROMI for Sports Sponsorship 119
ROMI for a New Product Launch 122
Stress-Test the Numbers: Sensitivity Analysis 129
Chapter Insights 133
Case Examples: Sports Sponsorship and Web New Product LaunchROMI (Disguised) Downloadable Excel Templates: NPV, IRR, Payback,Campaign ROI, Sports Sponsorship ROI, New Product Launch ROI, TableFunction Sensitivity Analysis, Monte Carlo Analysis
CHAPTER 6 All Customers Are Not Equal: Metric#10—Customer Lifetime Value (CLTV) 134
Metric #10—Customer Value Defined 135
The New Marketing Strategy: Value-Based Marketing 138
Balancing Short- and Long-Term Customer Profitability 146
Customer Life Cycle Management 151
Chapter Insights 154
Case Examples: Sainsbury’s, 3M, Continental Airlines,Royal Bank of Canada, Carnival Cruise Lines
Downloadable Excel Template: Customer Lifetime Value
CHAPTER 7 From Clicks to Value with Internet MarketingMetrics: #11—Cost per Click (CPC), #12—TransactionConversion Rate (TCR), #13—Return on Ad Dollars Spent (ROA),#14—Bounce Rate, and #15—Word of Mouth (WOM)156
CPC versus CPM: Optimizing Metric #11—CPC Is the GoogleInnovation 157
Optimizing Sponsored Search: Metrics #12—TCR and#13—ROA 159
How Good Is Your Web Site? Metric #14—Bounce Rate 168
Changing the Internet Search Marketing Game with AttributionModeling 172
Beyond SEM: Internet Display Advertising Impact 176
Hypertargeting Display Advertising in Social Media 178
Metric #15—Word of Mouth (WOM) Social Media MarketingEngagement 181
Chapter Insights 186
Case Examples: Google, Air France, Opinmind, Meteor Solutions,Palm Centro, Capcom Resident Evil 5 Downloadable Excel Templates:Search Engine Marketing Metrics (CPC, CTR, TCR, Take Rate, ROA),Air France Click Data, Google ROA Impact, Bounce Rate, Word ofMouth (WOM)
PART III THE NEXT LEVEL 187
CHAPTER 8 Agile Marketing: Using Near-Time Data to ImprovePerformance by a Factor of Five or More 189
If You Are Going to Fail, Fail Fast 190
Design for Measurement 196
Chapter Insights 200
Case Examples: Microsoft Security Guidance, DuPont PerformanceAlliance
CHAPTER 9 Wow, That Product Is Exactly What I Need! The ThreeEssential Approaches to Analytic Marketing 201
The First Essential Approach to Analytic Marketing: PropensityModeling 202
The Second Essential Approach to Analytic Marketing: MarketBasket Analysis 206
The Third Essential Approach to Analytic Marketing: DecisionTrees 207
Timing Is Everything: Event-Driven Marketing Case Examples214
The Business Case for Analytic Marketing 218
Chapter Insights 220
Case Examples: Meredith, EarthLink, DIRECTV, National AustraliaBank, Ping Golf Downloadable Excel Template: Analytic Marketing ROIDownloadable SAS File: EarthLink Retention Marketing
CHAPTER 10 What's It Going to Take? Infrastructure forData-Driven Marketing 222
Which Data Do You Really Need? 223
Do You Need to Build a Ranch House or Empire State BuildingInfrastructure? 225
Requirement Complexity 229
Should You Forklift or Rearchitect Data in the Enterprise DataWarehouse? 233
What We Know Can and Will Go Wrong (If You Don’t WatchOut!) 234
Harrah's Entertainment: Creating the Data-Driven MarketingInfrastructure Portfolio 237
Chapter Insights 246
Case Example: Harrah’s Entertainment
CHAPTER 11 Marketing Budgets, Technology, and Core Processes:Key Differences between the Leaders and the Laggards 247
Marketing Campaign Management: The State of the Industry 249
Research: Marketing Processes, Technology, and the Link to FirmPerformance 252
B2B versus B2C Investment Portfolio Mixes: Leaders versusLaggards 256
Overcoming the Four Barriers to Professionalizing MarketingProcesses 260
Upgrading Marketing Campaign Management Processes: AThree-Phased Approach 262
Lessons Learned from the Research: Complexity RequiresGovernance 266
The Creative X-Factor 268
Tying It All Together 271
Chapter Insights 272
Case Examples: Blendtec Viral Marketing, Nissan Qashqai NewProduct Launch
APPENDIX FOR INSTRUCTORS How to Use This Book to TeachData-Driven Marketing 275
Posted February 18, 2011
Many marketing insiders are not fans of quantitative business analysis. They prefer the creative side of the business. But in today's cost-cutting, profit-focused environment, marketers should understand the data metrics that define their results. This important book explains these utilitarian, beneficial metrics. Technology and innovation expert Mark Jeffery, writing in a disarming, first-person style, presents the case for using data. He cites companies that have applied data to drive sales and to deploy their marketing budgets more effectively. getAbstract suggests that this book could elevate the perceptions, performance and results of many non-data-oriented marketing departments, and could advance an individual marketer's career.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
Posted July 19, 2010
As a marketing analytics professional, I find this book is more than useful for me to deepen my understanding on data-driven marketing area. Mark, as a renowned Kellogg professor, adopt a very practical way but with a very professional and insightful perspective to pin point the necessacity and importance of data-driven marketing. This book helps me to comprehend how marketers in the coporations could leverage marketing analytics to deliver more effecitive and profitable marketing result, the perspective different from what I holds as a marketing analytics advisor. What I specially like this book is because it not only addresses the issue from an high-level industry trend with fruitful business cases, but also demomstrate specific metric calculation for readers to understand analytics in a pragmatic manner. As a must-have book for marketers to understand data-driven marketing, it is also a good resource book for MBA students and professionals who want to build their expertise on marketing since the future of the marketing will be built on an analytics platform.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
Posted June 16, 2010
This book must be purchased, read and kept on your shelf as a reference. It is very well written, very easy to follow, and very organized. The many examples "in practice" really hit home the theories and concepts. This book will not only give you the tools to measure marketing campaign results but will also give you the tools to sell your company on the fact that marketing campaign results need to be measured. There are also a few excellent chapters on measuring results of internet marketing. This book covers it all. MBA students to experienced professional marketers should have this book on their reference shelf.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
Posted February 15, 2010
Anyone that can prove data drives profits is a Data Rock Star!
As a Marketing executive, I can understand the challenges of fusing science and art when making daily marketing decisions. Mark has done an exceptional job at articulating simple, yet thoroughly explainable, solutions for achieving successful marketing metrics. He provides an exceptional foundation of mathematical methods in driving ROI, ROAS, profitability and retention.
Data-Driven Marketing accomplishes the one thing that is most critical when running a marketing organization: using data to drive profits. He stresses the critical relationships between business and IT and how, in concert, these two forces can truly revolutionize business results. Using enterprise customer, operational and transactional data in the 15 metrics are key. His book also points out the power of Voice of the Customer data and how its continued mining is important to driving marketing strategy. Another advantage of his metrics are their versatility: simply put...they are industry agnostic.
Mark also does more than just lay out case after case of why these metrics make sense for any marketer. He also interjects fun and humor during the process. This is an aspect any reader can enjoy.
Data-Driven Marketing is an absolute must-have for any marketer interested in good, solid, directional marketing analytics.
Posted January 31, 2010
I found the book very useful and enjoyed reading it.
An easy to read and extremely useful book for marketers who want to tackle the complex questions of 'how do marketers demonstrate the measurable value of their marketing dollars' and 'how do they make it happen by taking control of their technology investment and implementation'.
Defining metrics that lead to a measurable ROI for marketing investments is a challenge because of all the soft processes and intangibles involved in the marketing process. Executives and professionals alike do not disagree on the value of metrics but struggle about how to do it.
This easy to follow book addresses the 3 key aspects of metrics development 1.) Why do you need metrics, which is becoming an obvious question in the current economic environment 2.) What to measure, the book does an excellent job in defining the metrics for both tangible and intangible value parameters and 3.) How to do it, this section explains the technology and infrastructure needs in a easy to follow way for non-IT marketing professionals.
Posted January 29, 2010
Understanding how to interpret and analyze data to optimize media, marketing, & advertising is a critical component of success. In tough economic times history has proven that the most successful brands are the ones that don't pull back, but instead step up their game. However, marketers still need to provide a tangible link between expenditures and revenue. Mark's book will serve as an excellent easy-to-follow guide to advanced analytical techniques and models that will enable marketers to outsmart the competition. A must read.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
Posted January 19, 2010
If there is a common knock on Marketing executives and Marketing departments, it is that they are not adequately metrics-driven. The best executives and departments are changing this. For best in class Marketers and those who hope to climb the rungs toward that level of performance, Mark Jeffery's Data-Driven Marketing is a much needed tool to expedite the process. Jeffery operates at the nexus between Marketing and Information Technology, offering examples from companies who have achieved excellent results through data driven practices. This book is both highly readable and highly practical. The 15 metrics described in this book are applicable to small and large companies alike. Jeffery's data driven approach is essential for the Marketing departments of tomorrow.Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.
Posted July 5, 2011
No text was provided for this review.