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When are two heads better than one?…

Less than 40% of CMOs wish to increase their financial acumen and digital know-how.

As data digital marketing specialists here at Anaylin, we were initially rather surprised to read this particular result in Gartner’s 2021 Report “5 Strategic Priorities for CMOs”.

Why did the Chief Marketing Officers taking part say they were not looking to sharpen their skills in such business-critical areas as financial acumen and digital know-how?

After giving it some thought, we’ve come up with two possible explanations as to why this may not be as surprising as it at first seemed.

The first: based on a predictable reaction when asked if we need to get better at what we do every day. We naturally believe we have already developed the skills we need to a high degree, and don’t feel comfortable about admitting there’s room for improvement, even in an anonymous survey!

The second: explanation concerns our own role here at Anaylin, as a knowledge-based, integrated ‘Digital and Data Boutique’, providing outsourced marketing data management services to CMOs and their departments. We like to think that the CMOs who don’t feel they need to increase their ‘digital know-how’ would include our Anaylin clients. They rely upon us to stay up-to-date with current trends and developments in our field on their behalf, bringing our cutting-edge industry knowledge of marketing insights and analytics to the table to share with them and their teams.

The survey recommends that CMOs conduct honest self-assessments of their own personal skill set and strengthen any areas of weakness in support of digital business initiatives.

Our clients choose to achieve better results by partnering with Anaylin, because they know that two heads are better than one!

To join them, and stay ahead of the game, contact Neal Muranyi

05 May

CMOs Share their Top Ten reasons for side-lining Data Analysis

CMOs Share Their Top 10 Reasons for Side-lining Data Analysis, what would be your top 3?

A recent Survey* asked CMOs for reasons they might choose not to use Analytics to inform key business decisions. Can you guess the top 3 reasons given from this shortlist of the ten most common responses:

In no particular order

Results of Analysis Are Not Actionable
Analysing Data Takes Too Long
Data Findings Conflict with Intended Course of Action
Analysis Does Not Incorporate Different Sources of Data
Analysis Does Not Account for Business Context
Poor Data Quality
Lack of Access to Sales or Conversion Data
Analysis Does Not Present a Clear Recommendation
Decisions Are Driven by Our Trading/Promotional Calendar
Analysis Is Too Difficult to Understand

In these uniquely testing times, every CMO has been called upon to revise their data management strategy to deal with unforeseen obstacles and delays. Significantly though, investment in marketing analytics shows no signs of slowing down, despite the challenges involved.

IN FACT, to meet the demands of greater automation and personalisation, 73% of CMOs said they plan to increase their investment in data sourcing, integration and management, and advanced analytics during the next financial year.

Do any of the above reasons given strike a chord with you? And how far are they likely to impact your own strategy going forward?

We would love to hear your informed judgement and perceptions around the importance of data analytics and have a chance to share with you how, by drawing on Anaylin’s experience and resources, you could make them work better to support your marketing activities in the year ahead.

Email Neal Muranyi for more on how Anaylin is working with clients to managing and analysing data so they can make informed decisions

* Gartner Marketing Data and Analytics Survey

CRM Data Management Data Analysis Data Management Marketing

17 Feb

Do Not Sacrifice Relevancy for Real Time Marketing

Are you sacrificing relevancy for real–time marketing and personalisation?

It has become easier to use real-time technology to seemingly target the right person at the right time but so often this is not supported with the right message or right level of relevancy . This is because the ‘right message’ via real-time personalisation is often blunt and lacks impact as it is invariably based on what the visitor has just done in a given channel.

For some brands this is step forward, but in reality, the right message often requires more right-time customer intelligence (capture, analysis and data joining) to better understand the context and reason for the visit and why the visitor abandoned the visit etc. and where the customer or prospect relationship is at. This deeper understanding will not only increase the relevancy but will also drive marketing uplift from your real-time and right-time marketing efforts.

For example a visitor/revisitor looking online at a new mobile phone may require a very different experience and messaging depending on whether it is possible to join this data up with e.g. their contract renewal date, previous history of looking at early cancellation terms and conditions, their latest poor NPS score, whether their usage has recently increased or decreased significantly etc. This need for enhanced understanding also applies to many other industries and customer expectations are that brands have a joined up picture too!

Connecting the channel data, intelligence and customer contacts is a challenge that we at Anaylin are increasingly being asked to meet for our clients. Whatever your aspirations are in the area of ‘right-time relevant’ marketing, Anaylin can support the data integration and management, the customer journey planning and advise on the technology landscape in striving to meet right time (with relevancy) customer relationship marketing

Marketing

14 Jul

The Rise of ‘Offerholism’ and the Price of Loyalty?

Customer Loyalty is still a ‘holy grail’ for many brands and it has become increasingly difficult to achieve is this world where marketing and offers are in your face 24/7 across an ever-increasing set of media. In fact, Anaylin think there is a growing trend of ‘offerholism’, where for some if your product (even luxury and premium brands) is not accompanied by a promotion it is dismissed very quickly.

Loyalty schemes have and continue to be a way of enticing repeat purchases and ‘brand of choice’ but fundamentally despite the success of some Loyalty Schemes, do they amount to ‘bribery’ and an unnecessary or difficulty to manage overhead and fuel the ‘margin spiral’?

Some Loyalty schemes we have been asked to review in the past have simply been a means of hiding poor product performance, poor service, etc. We often found that they were attracting promiscuous ‘offerholics’ and not rewarding the value-driving behaviour that the business really intended.

Therefore, we have recommended substantially changing the scheme mechanics, closing it down or even telling some major brands to avoid going down the Loyalty Scheme entirely and focus on customer strategy, customer engagement, growth and retention.

Improved Customer Insight via customer analytics is the key to Brand /Product/Service Innovation and differentiation. Bringing this customer insight to market via data marketing and delivering the right service with the most relevant positioning/messaging to the individual’s circumstances, at the right time, through the right channel(s) and at a price that clearly represents value for the individual is the best form of driving loyalty whilst optimising your marketing spend.

Now is the time to act and rebuild customer loyalty at the right price for the business! Data is now available more readily, is easier to ingest and analyse and means that ‘Real-time intelligence can combine with Right-time/Real-time multichannel delivery to deliver and track ‘real and valuable loyalty’.

If you wish to discuss or know more contact Neal Rimay-Muranyi

Marketing