Reference detail to guide research and writing:
Reference Sector: Luxury Retail Sector
/ Manufacturing Sector: Apparel Manufacturing
Marketing has always been about telling a great brand story and communicating it to the marketplace. But since the advent of data-driven programmatic marketing, the complexity of getting that message out has increased exponentially
Today, Marketing is charged with delivering a relevant and timely experience to customers and prospects alike throughout the entirety of their engagement with a business
Merchants are struggling to implement cross-channel marketing campaigns that match customer demographics and psychographics ― largely because they are in the early stages of conquering Big Data
70% of merchants worldwide currently are grappling with approximately eight disparate sources of business and customer data — both structured and unstructured — within their organizations.
The rise of customer channels and devices means there’s a growing need for marketers
to understand consumers in the context of where they are (physically), their channel preference (digital), their device preference (physical and digital) and their usage patterns in the context of all of these potential engagements.
CMO’s are beginning to prioritize data by:
• Gaining access to and connecting key systems of data that will help an organization to understand the entire customer lifecycle, not just what happens before a sale
• Uncovering and filling gaps in a company’s data to better understand their existing clients and gain visibility into prospects that have not yet meaningfully interacted with their brand
Marketing analytics enable organizations to explore how customers in defined segments behave differently, and even predict customers’ likelihood to respond to different offers. Doing that enables them to tailor the timing, content and delivery channel of offers to fit the preferences of customers
Insight Provided by Data Discovery Analytics:
• Which campaign elements generated the most revenue last quarter?
• How are our customers engaging with us?
• How many leads did we generate from blog post C versus social media campaign D?
• Which channels do our most profitable customers prefer?
• Which cities should we target next using our current portfolio?
Common Critical KPIs:
• Customer Lifetime Value - In marketing, customer lifetime value (CLV) is a metric that represents the total net profit a company makes from any given customer
• Improve conversions across different channels
• Conversation Rate- The conversion rate is the percentage of users who take a desired action. The archetypical example of conversion rate is the percentage of website visitors who buy something on the site
• Abandonment Rate - Also known as "shopping cart abandonment"
• Cost Per Acquisition - In other words, how much do I have to spend in marketing dollars to get a paying customer? Acquisition is centered solely on making somebody a customer. It’s all about revenue
• Engagement: Typically this is a combination of time on site, page views per visit, and frequency/recency of visits. Higher engagement should lead to higher conversion.
Text above is only a guide in developing the key components and tone of the white-paper. This paper is not to position any one product, but rather a platform family (Data/Business Discovery) that could provide the value basis for the CMO. Must be driven by independent research with sources referenced in footnote.