Brand tracking, CRM programs, trade shows, online behavior tracking, satisfaction studies. Mounds of marketing metrics are generated across touchpoints and channels. It can be information overload--too much, too scattered. But locked in the vast quantity of information are accurate, data-driven answers to every marketing question. Analytic dashboards are transformative web-based tools that gather, syn the size, and visually display essential data in real time, directly connecting marketing with performance.
World renowned marketing expert Koen Pauwels supplies a simple yet rigorous methodology and wealth of case studies to help any size organization, in any industry, turn data into productive action. He 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
Gut decisions are outdated and downright dangerous. Whether you're trying to allocate resources between online and offline marketing, measure the ROI of specific efforts, or scale up a creative campaign, dashboard analytics bring scientific precision and insight to marketing efforts--with far better results.
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.
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 Wrap-Up and Manager's Memo 211 Conclusion: Call to Action 213 Notes 217 Index 225 About the Author 231