| Uploader: | Incisor |
| Date Added: | 05.06.2015 |
| File Size: | 49.68 Mb |
| Operating Systems: | Windows NT/2000/XP/2003/2003/7/8/10 MacOS 10/X |
| Downloads: | 38714 |
| Price: | Free* [*Free Regsitration Required] |
Data Driven Marketing Mark Jeffery Pdf Download
NAMED BEST MARKETING BOOK OF BY THE AMERICAN MARKETING ASSOCIATION Praise for Data-Driven Marketing To paraphrase the old adage: Half of marketing dollars are effective, we just dont know which half! Download Product Flyer is to download PDF in new tab. This is a dummy description. Mark Jeffery is the Director of Technology. Ebook > Social Sciences > Economy > Promotion, Marketing > Mark Jeffery: Data-Driven Marketing (PDF) Mark Jeffery Data-Driven Marketing The 15 Metrics Everyone in Marketing Should Know. Support. Adobe DRM ( / – 3 customer ratings) NAMED BEST MARKETING BOOK OF BY THE AMERICAN MARKETINGASSOCIATION. Access a free summary of Data-Driven Marketing, by Mark Jeffery and 20, other business, leadership and nonfiction books on getAbstract. Access a free summary of Data-Driven Marketing, by Mark Jeffery and 20, other business, leadership and nonfiction books on getAbstract. Skip navigation. Menu. Login.7/10().
Data driven marketing mark jeffery pdf download
In the new era of tight marketing budgets, no organization can continue to spend on marketing without knowing what's working and what's wasted.
Data-driven marketing improves efficiency and effectiveness of marketing expenditures across the spectrum of marketing activities from branding and awareness, trail and loyalty, to new product launch and Internet marketing, data driven marketing mark jeffery pdf download. Based on new research from the Kellogg School of Management, this book is a clear and convincing guide to using a more rigorous, data-driven strategic approach to deliver significant performance gains from your marketing.
With every department under the microscope looking for results, those who properly use data to optimize their marketing are going to come out on top every time. In Octobera few months after the fall of Bear Stearns and the start of the financial meltdown, I had a meeting with a Fortune chief marketing officer CMO.
I was invited to talk about marketing metrics but I wanted to understand the real challenge, data driven marketing mark jeffery pdf download, so I asked: What is keeping you up at night? Well, if you really want to know, I talked with the chairman yesterday and he wants to cut my budget by 36 percent. I thought it was a joke, but today I realize the chairman is serious.
At A. These are the most difficult economic times in more than two decades, and this CMO is not alone. Marketers are struggling to justify their budgets and are constantly being asked to do more with less.
Marketing is frequently viewed with skepticism by nonmarketing business executives and when times are tough is often one of the first budget cuts. For marketing managers the challenge of providing concrete results is amplified since branding and awareness are fuzzy and are not directly related to sales revenues.
These gaps can be overcome, without a major investment in time and resources, by focusing on measuring the right metrics in the right way. This book is intended for anyone in marketing who wants to significantly improve his or her marketing performance and justify marketing spending, and for nonmarketing managers who want to drive real results from marketing.
Instead of listing the 50 or metrics applicable to marketing, I focus on the 15 that are really important. I show how to actually use these metrics to quantify the value of marketing and radically improve marketing performance. My research also shows how firms that master data-driven marketing have significantly better financial performance relative to competitors. The approach of focusing on just 15 metrics has the benefit that you can easily master and apply the principles.
I give detailed examples for both large and small organizations, and free downloadable Excel spreadsheet templates complement all the quantitative examples. The book takes a systematic and pragmatic approach toward articulating data-driven marketing and marketing measurement principles, but after Chapter 3 can be read in any order.
Part I: Essentials consists of three chapters. The first chapter discusses the marketing divide, that a few firms get data-driven marketing and many do not, and introduces the 15 essential metrics.
Chapter 2 answers the question Where do I start? Chapter 3 provides a systematic framework for strategic marketing measurement using the 10 classical metrics. The 15 metrics are expanded upon in detail in Part II, and the interested reader can jump directly to the metrics of interest. The Internet is increasingly an essential component of all marketing campaigns, and 5 of the 15 metrics are devoted to this important medium.
Chapter 7 is an in-depth discussion of Internet marketing and the five new-age metrics—you can jump to this chapter at any time. If you are rusty on financial concepts, I suggest reading the finance for marketers discussion in Chapter 5 before tackling financial return on marketing investment ROMI and customer lifetime value CLTV in Chapter 6. Part III of the book focuses on advanced topics. I give strategies to take the data-driven marketing principles and metrics of the previous chapters to data driven marketing mark jeffery pdf download next level.
These four chapters discuss agile marketing, analytic and event-driven marketing, data-driven marketing infrastructure, essential marketing processes to drive performance and the Creative X-factor, data driven marketing mark jeffery pdf download. This book is not a textbook; however, it can act as a good supplement in a course on data-driven marketing.
A short appendix is provided with resources for instructors interested in using this book and related case studies in the classroom. My hope is that this book will provide you with deep insights into how marketing delivers value and how to use the 15 essential metrics for marketing as levers to strategically drive performance in your organization.
A senior marketing manager in a Fortune company once told me: Every week I have to go to a gun fight, the senior executive leadership meeting, and I am tired of going to this gunfight carrying only a knife. His frustration was the result of having no concrete data to answer hard questions about the value of marketing activities in his division.
We are living in difficult times, and marketing measurement and data-driven marketing are becoming increasingly important. Now more than ever, managers need to justify their marketing spending, show the value that they create for the business, and radically improve their marketing performance.
Why is data-driven marketing so difficult for many organizations? The challenge is compounded by the exponential growth of data. International Data Corporation IDC estimates that data storage is growing at 60 percent per year, which suggests the volume of stored data is doubling approximately every 20 months.
These vast amounts of data are overwhelming and marketers struggle, with limited time and resources, to measure the efficacy of what they do. A few marketers and organizations, however, have mastered data-driven marketing principles and marketing metrics. Invariably, these individuals are heroes within their firms, are promoted faster, and rise to more senior positions.
As we will see, organizations that embrace marketing metrics and create a data-driven marketing culture have a competitive advantage that results in significantly better financial performance than that of their competitors. He said Wal-Mart. However, I thought he was going to say Circuit City, so I asked why he did not. This drew customers into stores and drove sales revenues. But since the advent of Wal-Mart, data driven marketing mark jeffery pdf download, margins in retail are thin, data driven marketing mark jeffery pdf download, so running sales actually loses money for the business; that is, data driven marketing mark jeffery pdf download, it has a negative profitability.
The result, as Judge put it, is a death spiral, where continual sales are needed to drive revenues that continuously lose money. Of course, data driven marketing mark jeffery pdf download, the Circuit City story is now history; the firm went bankrupt and liquidated in January But Best Buy is different. Sure, a significant amount of the marketing budget is spent on demand generation marketing—this is marketing designed to get customers into the stores.
However, Best Buy spends more money on branding, customer relationship management, and infrastructure to support data-driven marketing compared with competitors.
Best Buy also keeps score: measuring the results of marketing initiatives in a feedback loop of adaptive learning to optimize its marketing. Best Buy marketers analyze customer purchasing characteristics and demographics on a store-by-store basis. For example, they identified one segment in certain geographies, which they called Jills.
This segment is a soccer mom who may well be working but is also running the family. She also makes the primary electronics purchasing decisions for the household.
Based on these data, Best Buy customized the marketing for specific stores where there are a significant number of Jills in the surrounding population.
The marketing included large in-store banner advertising of moms with kids using electronics, direct-mail advertising, and changing up the product mix to appeal to Jills. The resulting sales lift percentage change in these stores was then measured before and after the marketing activities.
This example illustrates the marketing divide: a few firms get marketing, and many do not. The research demonstrates the existence of a divide between market leaders and laggards.
A few statistics from the research highlight the data driven marketing mark jeffery pdf download in stark contrast:. Free downloadable templates accompany all financial metric examples. For best practices, examples, and templates, see Chapters 5 and 9. For best practices and examples, see Chapters 3 and For best practices and examples, see Chapters 2 and 3. For best practices and examples, see Chapter 3, data driven marketing mark jeffery pdf download.
I was shocked by these findings, since they suggest that the majority of marketing organizations do not have professional processes in place to manage marketing and that most do not use marketing metrics in their day-to-day marketing activities. After all, if there is no business case or ROMI defined prior to campaign funding, how can you measure success after the fact?
The vast majority of organizations therefore do not use centralized data to manage and optimize their marketing. The leaders, however, are on the other side of the divide and are the smaller percentage of data driven marketing mark jeffery pdf download, less than 20 percent, that actually do data-driven marketing and use metrics for measurement in their day-to-day marketing activities.
As we will see later, these firms have significantly better financial and market performance relative to competitors. Why is there a marketing divide, and why is it so hard for organizations to do data-driven marketing? These statistics are symptoms of why data-driven marketing and marketing measurement are so difficult for many organizations: the internal processes do not support a culture of measurement, and they also do not have an infrastructure to support data-driven marketing and marketing metrics.
But beyond these high-level processes, my experience is that most marketers are overwhelmed with data and do not know where to start in terms of measuring the right things to drive real results. The goal of this data driven marketing mark jeffery pdf download is to give you transparent metrics, tools, examples, and a road map to actually do data-driven marketing and apply marketing metrics in your organization, data driven marketing mark jeffery pdf download.
When I first started executive training at Microsoft insome Microsoft marketers suggested that what they needed was a killer app software application for ROMI. What was funny to me is that Microsoft makes the killer app: it is called Microsoft Excel.
The spreadsheet is an incredibly powerful tool. In this book, I data driven marketing mark jeffery pdf download on relatively simple, but effective, metrics and frameworks for marketing measurement and data-driven marketing, and Excel is a great tool to get started. More advanced tools and techniques exist for linking marketing to sales.
These techniques are indeed useful; regression, for example, is often used by packaged goods firms to correlate marketing spending with revenues. However, these methods have significant limitations, including the need for large, clean data sets, data driven marketing mark jeffery pdf download, which often are not available to most companies.
The approach of this book is therefore to focus on a framework for marketing measurement, balanced scorecards with the few key metrics that point to value, and data driven marketing mark jeffery pdf download for analysis that are relatively straightforward to implement.
As a side note, regression definitely has its uses. In Chapter 9, I discuss how Meredith Publishing uses regression to figure out what product a customer might buy next, and I compare regression analysis with other data-mining methods such as decision trees for EarthLink customer retention marketing. To get started, there is a lot you can do with Excel, and I provide downloadable spreadsheet templates for all of the quantitative examples in this book.
For ongoing data-driven marketing, you will most likely want to automate the process, and especially if you have a large customer base, you will need marketing infrastructure, including a database and more sophisticated analysis tools.
Approaching this journey is the focus of the next chapter, Where Do You Start? My perspective is to concentrate on as few metrics as possible that capture the most value for marketing. In summary, the 15 essential metrics for marketing I define are:.
They are explained in detail with examples in Chapters 3 through 7. The first 10 metrics are what I call the data driven marketing mark jeffery pdf download marketing metrics. Metrics numbered 1 through 5 are the essential nonfinancial metrics discussed in Chapters 3 and 4: these metrics define the efficacy of branding, customer loyalty, comparative marketing activities, and marketing campaign performance.
Metrics numbered 6 through 9 are the essential financial metrics every marketer should know.
Data-Driven Marketing - DreamStarters Book of the Week with Mike Fallat
, time: 2:39Data driven marketing mark jeffery pdf download
Data-driven marketing improves efficiency and effectiveness of marketing expenditures across the spectrum of marketing activities from branding and awareness, trail and loyalty, to new product launch and Internet marketing. those who properly use data to optimize their marketing are going to come out on top every time. Mark Jeffery is. NAMED BEST MARKETING BOOK OF BY THE AMERICAN MARKETING ASSOCIATION Praise for Data-Driven Marketing To paraphrase the old adage: Half of marketing dollars are effective, we just dont know which half! Download Product Flyer is to download PDF in new tab. This is a dummy description. Mark Jeffery is the Director of Technology. Predictive Marketing is a predictive analytics primer for organizations large and small, offering practical tips and actionable strategies for implementing more personalized marketing immediately. The marketing paradigm is changing, and this book provides a blueprint for navigating the transition from creative- to data-driven marketing, from one-size-fits-all to one-on-one, and from marketing.
No comments:
Post a Comment