Introduction to Marketing Analytics
Pacmann X Edufund
Sat, Nov 4th 2023
© 2023 – Pacmann AI
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Harumi Nimas Koentono
Working Experiences (latest three):
Projects in Business & Data Science (latest three):
Pendidikan Tinggi RI
Pendidikan dan Kebudayaan RI
Speakers in Business & Data Science (latest three):
Padjadjaran
Education Background:
2
Data Education
→ www.pacmann.io
Head of Marketing at Pacmann & Valiance
Marketing in Modern World
Then
Limited, less personalization, historical data
Print media, broadcast media, outdoor ads, in-person events
Now
Big, personalized, real-time data
Social media, website, search engines, email, mobile, online events
Inbound marketing, engagement & interaction, personalization, content marketing
Marketing in Modern World
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Digital Marketing
Digital Ad. Worldwide Spending
(Hendrix et al. 2021)
refers to advertising campaigns that appear on a computer, phone, tablet, or other electronic device with the goals of promoting goods and services, reaching customers,
and learning about their behavior. It is also known as Online Marketing.
Marketing in Modern World
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Marketing Communication Channels
~ in Digital Marketing ~
A marketing communication channel, often called a media channel, is a channel a company employs to communicate its marketing messages.
“ Organic ” Channels
“ Paid ” Channels
Marketing in Modern World
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“ Organic ” Channels
Channels made available for free usage by businesses.
include
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“ Organic ” Channels
Channels made available for free usage by businesses.
such as
Email marketing is an effective advertising platform that utilizes email to promote your company's goods or services.
Marketing in Modern World
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“ Organic ” Channels
Channels made available for free usage by businesses.
such as
Search engine optimization is a set
of technical procedures designed to enhance the content and structure
of your website and boost traffic to it.
Marketing in Modern World
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Channels made available for free usage by businesses.
such as
“ Organic ” Channels
Organic social media marketing is a type of advertising on social media that goes on without using any of a specific marketing budget.
Marketing in Modern World
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“ Organic ” Channels
Channels made available for free usage by businesses.
such as
Digital public relation refers to marketing campaigns that build connections with audiences through digital media, such as being a guest in a podcast & speaking
at virtual events. By doing this, you are taking advantage of the organic audiences of other businesses instead of entirely depending on your own.
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“ Paid ” Channels
Channels that are paid on a pay-per click basis for each visit to a company’s app or website.
include
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“ Paid ” Channels
Channels that are paid on a pay-per click basis for each visit to a company’s app or website.
such as
Display advertising is a type of online promotion that combines text, images, and URLs to direct viewers to websites, apps, and social media platforms using banner ads and other visual ad formats so that viewers can discover more about the product or make a purchase.
Marketing in Modern World
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“ Paid ” Channels
Channels that are paid on a pay-per click basis for each visit to a company’s app or website.
such as
Social media advertising is a type of digital advertising that uses social media sites like Facebook, Twitter, Instagram, and LinkedIn to deliver paid adverts
to company’s target audience.
Marketing in Modern World
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“ Paid ” Channels
Channels that are paid on a pay-per click basis for each visit to a company’s app or website.
such as
SEM is a type of internet marketing that helps businesses' content rank higher among search engine traffic and involves buying traffic from search engines like
Google in order to boost a company’s website
exposure on search engine results pages.
Marketing in Modern World
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“ Paid ” Channels
Channels that are paid on a pay-per click basis for each visit to a company’s app or website.
such as
Retargeting ad, also referred to as remarketing,
is a type of advertisement that appears to audiences
who have visited your website so that they will see your website or brand ads again even if they switch
to another website.
Marketing in Modern World
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Modern Marketing
Marketing Analytics
Data
The Fundamentals: Data, Methods, Tools
The data used in marketing
Demographic Data
Psychographic Data
Geographic Data
Behavioral Data
Firmographic Data
Transaction Data
Social Media Data
Web Analytics Data
Email Marketing Data
Survey Data
Competitive Data
Customer Feedback and Reviews
Customer Feedback and Reviews
Market Research Data:
By type:
By source:
Competitive Data
Marketing Analytics Data Credibility
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The marketing analysis process must have both integrity and credibility, thus the entire organization will have trust in the process and the decisions.
An organization should have a method or procedure in place for assuring data quality or cleaning the data because it will affect the analytics, campaigns, users, or other systems that depend on it.
Clean data refers to a dataset that is accurate and consistent and contains data that is needed to measure a certain measurement, so that the data can generate accurate and useful information.
Marketing Analytics
Clean Data
Meaningful Information
”
Analytics and Decisions Making
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Marketing Analytics
Clean Data
Meaningful Information
Better Decisions
Data from a marketing analytics process should contribute to making better decisions.
”
The data that has been gathered and examined enables marketers to decide more effectively how to optimize campaigns, enhance the customer experience, and eventually raise the return on investment (ROI)
of their marketing expenditures.
Marketing analytics examine key performance indicators so that marketers can better understand campaign performance, consumer behavior, ROI of marketing material, or other insights, and they can make a better decisions, eliminate or at least lower the element of
guesswork in marketing strategy.
Types of Marketing Analytics
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Descriptive Analytics
Predictive Analytics
Prescriptive Analytics
Diagnostic
Analytics
What happened?
What will happen?
How do we make it happen?
Why happened?
Hindsight
Insight
Foresight
Insight
Value
Complexity
Common statistical techniques used in marketing analytics
Descriptive Statistics
Common statistical techniques used in marketing analytics
Regression Analysis
(can be cross-sectional, time-series or panel)
Common statistical techniques used in marketing analytics
Correlation Analysis
Common statistical techniques used in marketing analytics
Hypothesis Testing:
e.g. A/B Testing
Common statistical techniques used in marketing analytics
Cluster Analysis
Common statistical techniques used in marketing analytics
ANOVA (Analysis of Variance)
Common tools in Marketing Analytics
… and many more
Benefit and Challenges
Marketing Analytics Benefit
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3
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5
Brand Recognition
Content
Channel Optimization
Customer Understanding
Predictive Intelligence
Marketing Analytics Benefit
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2
1
3
4
5
Brand Recognition
Content
Channel Optimization
Customer Understanding
Predictive Intelligence
Understand the sentiments that consumers have for and about your brand.
Marketing Analytics Benefit
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1
3
4
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Brand Recognition
Content
Channel Optimization
Customer Understanding
Predictive Intelligence
Identify which of your marketing materials get the most views, shares, and highest conversions.
Marketing Analytics Benefit
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3
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Brand Recognition
Content
Channel Optimization
Customer Understanding
Predictive Intelligence
To boost the performance
or invest only
in the best-performing channels, compare the performance of different marketing channels such as email or pay-per-click.
Marketing Analytics Benefit
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2
1
3
4
5
Brand Recognition
Content
Channel Optimization
Customer Understanding
Predictive Intelligence
Learn more about the behavior of your customers to better understand their needs and preferences.
Marketing Analytics Benefit
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2
1
3
4
5
Brand Recognition
Content
Channel Optimization
Customer Understanding
Predictive Intelligence
Predict which clients will buy what and at what time early on in the buying cycle.
Marketing Analytics Challenges
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System or Infrastructure
Time or Staff
Knowledge or Expertise
ID [TRack Meaningful Analytics]
Executive [Management Support]
No Challenges
Marketing Team’s Buy-In
Marketing Challenges based on Survey
Marketing Analytics Challenges
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“ System or Infrastructure “
The majority of the channels used by
the modern marketing company are digital,
and the campaigns and content that marketing produces are displayed on a multitude devices.
The problem posed by this environment is the large amount of analytical data (the volume and variety of data). Technology is vital
for the analytics initiative to collect
the data and interpret it.
Marketing Analytics Challenges
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“ Time or Staff “
Numerous businesses don't have much time
for the analytics process since they are
too busy with other activities.
Implementing marketing analytics is also difficult due to staff shortages.
Many businesses deal with this issue.
Marketing Analytics Challenges
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“ Knowledge or Expertise “
Technical skills, more precisely technology skills,
are becoming more and more important for
the modern marketer. Using software &
technology to its fullest potential is
quickly taking over as the most
important qualification for
marketing credentials.
Marketing Analytics Challenges
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ID [TRack Meaningful Analytics]
Analytics processes need to be evaluated
to measure their effectiveness.
Metrics are involved in this process.
Finding relevant key metrics to use is always challenging for marketers. The process of identifying metrics must begin with
an understanding of the strategic objectives
that marketing is pursuing.
It adopts a top-down approach.
Marketing Analytics Challenges
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Executive [Management Support]
Getting support and commitment from executive management is a challenge to implement marketing analytics as this activity requires a large amount of resources.
Marketing Analytics Challenges
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No Challenges
6% of the companies surveyed claimed that implementing marketing analytics do not encountered any significant challenges.
Marketing Analytics Challenges
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Marketing Team’s Buy-In
Another barrier to the implementation of
the analytics process is the marketing
team's partial support.
Getting Started with Marketing Analytics
Marketing Analytics Scenarios
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Type | Leadership | Operation | Funding | Decisions |
None | Intuitive | Busy-ness | Negotiated political process | Educated guesses |
Pseudo | Intuitive; analytics smokescreen | Busy-ness | Negotiated political process | Educated guesses |
Real | Intuitive; analytics proof | Results | Based on business case | Informed by analytics |
Scenario
No Analytics
Pseudo-Analytics
Real Analytics
Marketing Analytics Process
The marketing analytics process is a continuous cycle of measure, analyze and improve.
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STEP 3
Take Improvement Actions
STEP 1
Identify Metrics
STEP 2
Analyze the Metrics
Marketing Analytics Process
Marketing Analytics Process
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STEP 1 : Identify Metrics
What
Guidelines
Focus on objectives
1
Measure effectiveness
3
Measure efficiency
2
Do you have access to reliable data?
Assess Your Abilities
Are you capable of extracting and processing the data?
Marketing Analytics Process
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STEP 2 : Analyze The Metrics
What
The Analysis Step
Understand the current state
1
Compare it to ideal state
2
Do root cause analysis to determine why there are differences
3
Marketing Analytics Process
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STEP 3 : Take Improvement Actions
What
How
Brainstorm all potential solutions.
1
Don’t dismiss any ideas in the beginning.
3
Narrow the list of candidate ideas down to the possible ones.
4
Select the improvement ideas that will most likely increase performance.
5
The marketing team might conduct A/B Testing to find a solution.
2
Marketing Analytics Process
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Repeat The Three-Step Process
Although executing marketing analytics process will produce benefit, but the continuous use
will maximize its benefit.
The real advantages of analytics can only be realized through consistent and long-term execution of the process.
01
03
Repetition of the analytics process is necessary to produce consistent and sustained improvement.
02
Marketing Analytics Use Cases
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Analyze
the present
Report on
the past
Predict
the future
Compare with competitors
Conclusion
Key Points:
THANK YOU!
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Reference
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PT Algoritma Cerdas Indonesia
Office
Jl. Benda Atas No.47, RW.6, Cilandak Tim., Kec. Ps. Minggu, Kota Jakarta Selatan, Daerah Khusus Ibukota Jakarta 12560
business@pacmannai.com
Phone
+6281362613775
Website
www.pacmann.io
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