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Praise for Data-Driven Marketing
"To paraphrase the old adage: 'Half of marketing dollars are effective, we just don't know which half!' This book changes the marketing game so you'll really know what's working and what's not. The 15 metrics, along with the case examples, are an authoritative toolkit for making better decisions to create new markets, drive revenue, increase...
Praise for Data-Driven Marketing
"To paraphrase the old adage: 'Half of marketing dollars are effective, we just don't know which half!' This book changes the marketing game so you'll really know what's working and what's not. The 15 metrics, along with the case examples, are an authoritative toolkit for making better decisions to create new markets, drive revenue, increase customer satisfaction, and improve profitability."
—John M. Boushy, former CEO, Ameristar Casinos, Inc.
"A groundbreaking combination of research, frameworks, and pragmatic advice for both controlling and radically improving marketing. A must-read for the entire marketing organization, from the CMO to the front lines."
—Barry Judge, Executive Vice President and Chief Marketing Officer, Best Buy
"Business-to-consumer marketing and business-to-business marketing are very different. Through detailed examples, this outstanding book shows how to apply data-driven marketing in both worlds for real results. This book is for anyone in business, not just marketing, who wants to step up the performance of their marketing."
—David G. Bills, Senior Vice President and Chief Marketing and Sales Officer, DuPont
"Every year, baseball teams go to places like Florida and Arizona to run through the basics which are the cornerstone of performance excellence. This book is the marketing equivalent of taking all those ground balls. An essential read for every marketer who cares about—and wants to improve upon—the science of their craft."
—Derek Ungless, Executive Vice President and Chief Marketing Officer, DSW Shoe Warehouse
PART I Essentials 1
CHAPTER 1 The Marketing Divide: Why 80 Percent of Companies Don't Make Data-Driven Marketing Decisions—And Those Who Do Are the Leaders 3
The 15 Essential Marketing Metrics 7
Case Examples 9
Marketing Budgets: Key Differences between the Leaders and the Laggards 17
Using Marketing Metrics to Weather Difficult Economic Times 20
The First Step: Defining the Data-Driven Marketing Strategy 22
Chapter Insights 25
Case Examples: Best Buy, Porsche Turbo Cabriolet Launch, DuPont Tyvek NASCAR
CHAPTER 2 Where Do You Start? Overcoming the Five Obstacles to Data-Driven Marketing 26
Overcome Obstacle 1: Getting Started—Focus on Collecting the Right Data and Create Momentum by Scoring an Easy Win 28
Overcome Obstacle 2: Causality—Conduct Small Experiments 33
Overcome Obstacle 3: Lack of Data—Strategies for Obtaining Customer Data 35
Overcome Obstacle 4: Resources and Tools—Build the Infrastructure for Data-Driven Marketing 39
Overcome Obstacle 5: People and Change—Create a Data-Driven Marketing Culture 44
A Road Map for Implementing Data-Driven Marketing 49
Chapter Insights 51
Case Examples: Royal Bank of Canada, Walgreens, Continental Airlines, 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 OEM Comarketing
PART II 15 METRICS TO RADICALLY IMPROVE MARKETING PERFORMANCE 73
CHAPTER 4 The Five Essential Nonfinancial Metrics: #1—Brand Awareness, #2—Test-Drive, #3—Churn, #4—Customer Satisfaction (CSAT), and #5—Take Rate 75
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's Greenest School, Porsche First Mile, Intel, Ray-Ban, Lexus, Dental Care Partners, DSW Shoe Warehouse Downloadable Excel Templates: Churn, Take Rate
CHAPTER 5 Show Me the ROI! The Four Essential Financial Metrics: #6—Profit, #7—Net Present Value (NPV), #8—Internal Rate of Return (IRR), and #9—Payback 104
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 Management Decisions 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 Launch ROMI (Disguised) Downloadable Excel Templates: NPV, IRR, Payback, Campaign ROI, Sports Sponsorship ROI, New Product Launch ROI, Table Function 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 Marketing Metrics: #11—Cost per Click (CPC), #12—Transaction Conversion 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 Google Innovation 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 Attribution Modeling 172
Beyond SEM: Internet Display Advertising Impact 176
Hypertargeting Display Advertising in Social Media 178
Metric #15—Word of Mouth (WOM) Social Media Marketing Engagement 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 of Mouth (WOM)
PART III THE NEXT LEVEL 187
CHAPTER 8 Agile Marketing: Using Near-Time Data to Improve Performance 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 Performance Alliance
CHAPTER 9 Wow, That Product Is Exactly What I Need! The Three Essential Approaches to Analytic Marketing 201
The First Essential Approach to Analytic Marketing: Propensity Modeling 202
The Second Essential Approach to Analytic Marketing: Market Basket Analysis 206
The Third Essential Approach to Analytic Marketing: Decision Trees 207
Timing Is Everything: Event-Driven Marketing Case Examples 214
The Business Case for Analytic Marketing 218
Chapter Insights 220
Case Examples: Meredith, EarthLink, DIRECTV, National Australia Bank, Ping Golf Downloadable Excel Template: Analytic Marketing ROI Downloadable SAS File: EarthLink Retention Marketing
CHAPTER 10 What's It Going to Take? Infrastructure for Data-Driven Marketing 222
Which Data Do You Really Need? 223
Do You Need to Build a Ranch House or Empire State Building Infrastructure? 225
Requirement Complexity 229
Should You Forklift or Rearchitect Data in the Enterprise Data Warehouse? 233
What We Know Can and Will Go Wrong (If You Don’t Watch Out!) 234
Harrah's Entertainment: Creating the Data-Driven Marketing Infrastructure 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 Firm Performance 252
B2B versus B2C Investment Portfolio Mixes: Leaders versus Laggards 256
Overcoming the Four Barriers to Professionalizing Marketing Processes 260
Upgrading Marketing Campaign Management Processes: A Three-Phased Approach 262
Lessons Learned from the Research: Complexity Requires Governance 266
The Creative X-Factor 268
Tying It All Together 271
Chapter Insights 272
Case Examples: Blendtec Viral Marketing, Nissan Qashqai New Product Launch
APPENDIX FOR INSTRUCTORS How to Use This Book to Teach Data-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
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