In this invaluable resource, discover how to conduct smarter marketing strategies using analytics and dashboards to get the most out of your data.
Did you know that your business already has the world’s greatest information-tracking team working tirelessly for you 24/7 to gather all the info you could possibly need to find your next customers Between brand tracking, CRM programs, and online behavior tracking, as well as the always-dependable trade shows and satisfaction studies, mounds of marketing metrics are being generated for you across various touchpoints and channels.
Locked in the vast quantity of information are accurate, data-driven answers to every marketing question--and analytic dashboards are the key to finding it all. In It’s Not the Size of the Data--It’s How You Use It, marketing expert Koen Pauwels introduces you to these transformative web-based tools that gather, synthesize, and visually display essential data in real time, directly connecting marketing with performance.
He then supplies a simple yet rigorous methodology that explains step by step how to:
- Gain crucial IT support
- Build a rock-solid database
- Select key leading performance indicators
- Design the optimal dashboard layout
- Use marketing analytics to improve decisions and reap rewards
There is simply too much customer-produced information out there today for marketing teams to go with gut decisions or the same old standbys. Dashboard analytics will bring scientific precision and insight to the marketing efforts of any size organization, in any industry, and turn this eye-popping data into a specific plan of attack.
Table of Contents:
Contents
Foreword by Laura Patterson xiii
Acknowledgments xvii
Introduction: Decisions That Data and Analytics
Can Inform xix
PART I: WHAT MARKETING ANALYTICS DASHBOARDS
CAN DO FOR YOU
Chapter 1: Marketing Analytics Dashboards:
What, Why, Who, and How 3
CASE STUDY The Right Chair #1: Marketing Analytics
Gives SMEs a Competitive Advantage 5
What Is a Marketing Analytics Dashboard? 7
CASE STUDY Cars: From Begging HQ to Talking Trade-Offs 10
Why Marketing Analytics Dashboards? 14
Who Uses Marketing Analytics Dashboards? 15
How Can a Marketing Analytics Dashboard Help You? 16
Wrap-Up and Manager’s Memo 18
Chapter 2: Compare the Marketing Analytics Dashboard
to Your Current Scoring System 21
Reporting Versus Analytics in Dashboards 22
Marketing Analytics Dashboards and Balanced Scorecards 23
CASE STUDY City Performance: From Charlotte’s Balanced
Scorecard to Atlanta’s Dashboard 27
Decision Support Tools and Marketing Mix Models 29
Dashboard Building Blocks: Metrics and Key Performance Indicators 31
Wrap-Up and Manager’s Memo 33
PART II: PLAN YOUR MARKETING ANALYTICS
DASHBOARD
Chapter 3: Start with the Vision 39
Business Strategy Drives the Dashboard 40
CASE STUDY Unisys Makes Goal Alignment a Key Priority 40
How Goal Alignment Increases Performance 42
Top-Down or Bottom-Up Design? 44
Communicating Upward: Harnessing Top Management Support 47
CASE STUDY Dashboards Empower Middle Management:
Discover Financial Services 48
Wrap-Up and Manager’s Memo 49
Chapter 4: Assemble Your Team 51
Cross-Functional Development Teams 52
CASE STUDY Not All Fun and EB Games 53
Team Management Is Ongoing 54
Sustained Assistance from Top Management 57
Wrap-Up and Manager’s Memo 58
Chapter 5: Gain IT Support on Big and Not-So-Big Data 60
IT Is from Jupiter, and Business Is from Mercury 61
CASE STUDY Inside and Outside Data at a Multichannel
Retailer 63
Moving IT Closer to Business 63
Moving Business Closer to IT 66
Wrap-Up and Manager’s Memo 67
Chapter 6: Build Your Database 69
Planning the Right Database 69
Building Your Database In-House 71
CASE STUDY The Right Chair #2: The Longest Journey
Starts with the First Database Step 74
Outsourcing Your Database 76
Testing and Managing Your Database 77
Wrap-Up and Manager’s Memo 80
PART III: DESIGN YOUR MARKETING ANALYTICS
DASHBOARD
Chapter 7: Generate Potential Key
Performance indicators 83
What Could Make or Break Your Business? 83
How to Structure Interviews to Generate KPIs and Structure
KPIs into Groups 85
CASE STUDY IT Firm Generates and Organizes 150+ Metrics 87
Shortcuts? Start with the Competition or with Company
Objectives 88
Clarify for All What Each KPI Means 92
01-IND-FM-4_Front Matter 12/11/13 11:44 AM Page ix
CASE STUDY The Right Call #1: What Is a Qualified Lead? 93
Wrap-Up and Manager’s Memo 94
Chapter 8: Eliminate to Select Key Leading
Performance Indicators 97
Why Not Ask Customers What’s Important? 99
CASE STUDY First Tennessee Bank Tests Its Metrics 103
Which Indicators Lead Peformance? Granger Casuality in Action 104
CASE STUDY From 99 Metrics to 17 LPIs 106
Which Indicators Are Key? Vector Autoregressive Modeling 108
How KLPIs Improve Insights in Different Industries 112
Wrap-Up and Manager’s Memo 121
Chapter 9: Include Emerging Channels: KLPIs for
Online and Social Media 123
What Is Truly Different Online? 124
Customer-Initiated Contact Metrics 126
Capturing Conversation Topic Dynamics in Social Media 129
CASE STUDY Fashion Retailer Analyzes the Effects
of Social Media 134
Wrap-Up and Manager’s Memo 138
Chapter 10: Emerging Markets Frontier: Metrics
Across Countries 141
The Need for Standardized, Global Metrics 142
Consumer Protection Lowers Marketing Responsiveness of
Consumer Awareness 145
Individualism Increases Marketing Responsiveness of Brand
Consideration and Liking 146
Income Increases the Sales Conversion of Brand Liking 147
CASE STUDY How Advertising Effects Differ in an Emerging
and a Mature Market 149
Wrap-Up and Manager’s Memo 150
Chapter 11: Design the Layout and Dashboard
Prototype 153
Dashboard Structure: Seven Must-Haves 153
Data Display on the Dashboard 158
Data Visualization 160
CASE STUDY Data Visualization at Procter & Gamble 163
Wrap-Up and Manager’s Memo 165
PART IV: LIVE YOUR MARKETING ANALYTICS
DASHBOARD
Chapter 12: Launch and Renewal of the Marketing
Analytics Dashboard 169
Dashboard Implementation Roadmap 169
Execution Challenges 174
CASE STUDY The Right Call #2: Implementation Challenges 174
Key Implementation Success Factors 177
Renewing the Marketing Analystics Dashboard 180
Wrap-Up and Manager’s Memo 181
Chapter 13: Change Your Decision Making: From
Interpretation to Action 183
Adapt the Dashboard Output 185
Decide on Rules for Setting Marketing Budget and
Allocation 189
CASE STUDY Online Marketing Effects: Shifting
Euros Away from Last-Click Misattribution 190
Addressing Implementation Challenges 199
Wrap-Up and Manager’s Memo 201
Chapter 14: Nurture the Culture and Practice of
Accountability 203
Organizational Culture Is Crucial to Dashboard Success 203
Motivating Employees to Use the Dashboard 205
The Practice of Accountability 207
How to Support Accountability Throughout the Organization 208 <
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Wrap-Up and Manager’s Memo 211
Conclusion: Call to Action 213
Notes 217
Index 225
About the Author 231
About the Author :
Koen Pauwels is an award-winning professor, consultant, and expert on the topic of marketing ROI. After receiving his Ph.D. at UCLA, he taught at Dartmouth's Tuck School of Business before joining Ozyegin University.
Review :
..".provides a wealth of information about managing and leveraging data...Essential and a must-read." --One Cause at a Time
"Pauwels takes the reader into the world of big data and marketing dashboards....illustrates in an easy understandable manner how any company can improve performances using marketing dashboards..." --Christian Reiners blog
