It's Not the Size of the Data -- It's How You Use It

Smarter Marketing with Analytics and Dashboards

 It's Not the Size of the Data -- It's How You Use It

Author: Koen Pauwels
Pub Date: March 2014
Print Edition: $29.95
Print ISBN: 9780814433959
Page Count: 240
Format: Hardback
e-Book ISBN: 9780814433966

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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

Wrap-Up and Manager’s Memo 211

Conclusion: Call to Action 213

Notes 217

Index 225

About the Author 231

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