Marketing

To improve planning, enhance performance and optimize spend, the most effective marketing organizations inject data and analytics into every phase of their marketing process. Here are six essential practices that best-in-class marketing organizations employ to become more data-driven — and, in turn, make better, more profitable decisions.

What will make you successful in 2014 and beyond? Presuming digital continues to pervade — which it will — the environment will favor marketers who are not only smart and deliberate, but can adapt and pursue serendipitous shifts and opportunities.

Success will depend evermore on agility.

Here are key areas where you should put your organization to the “agility torture test”:

Mattel is an iconic american toy manufacturer responsible for the release of several iconic toys throughout the 20th century.  Namely Mattel has single handedly raised American children to demand Barbie, Hot Wheels, Fisher Price and now Monster High Dolls.  Contributing authors of the May 2010 issue of Theatre Journal indicated the power iconic brands have on culture stating that,  “Iconic brands spin narratives, complete with “plots and characters,” that address “the collective anxieties and desires of a nation” and provide a kind of magical resolution of “cultural contradictions”.   However, Barbie’s sales are down 12% this quarter as there is a new girl in town.

Is Healthcare.gov different from Expedia.com?

Lately it’s been hard to let a day go by without following the next intrigue on Obamacare. At this point, it’s probably fair to say there isn’t a living soul who considers the website a success. And while I’ll refrain from expressing a point of view on the legislation itself or on the details of project planning or technical competency, I did want to dig deeper to understand the nature of the “complexity” that has marred the heart of Obamacare—the exchange. After all, there are many technologically complex data exchanges that we depend on—airline traffic management, ticketing, loan offers on lendingtree.com, the stock exchange, eBay, Paypal…the list goes on.

Hispanic and Asian American segments are leading the current job recovery as indicated by positive Labor Force growth, Employment, and decrease in unemployment (negative numbers in chart). While White Non-Hispanics are leaving the Labor Force instead of staying as other Multicultural segments and have caused a rapid reduction in the labor market.   By Carlos Santiago / Santiago Solutions Group

Brands are using music as a way to connect with their consumers now more than ever. In fact, U.S. music fans actually feel more favorable toward brands that engage them through their favorite tunes, according to Nielsen’s Music 360 report.

Virtually every week, there is another story about major marketers putting their media agency in review. Most of the reviews these days are driven by price, not performance. Marketers — through their procurement officers — want lower media prices, and they want to pay lower media agency fees. Certainly, marketers and their media agencies also spend a lot of time on media performance, but it seems that the pendulum has swung a bit too far to the cost control side lately.

As the most anticipated week in Latin music unfolds, the city of Las Vegas fills up with celebrities, international media crews and hundreds of marketers from around the country who gather for the 14th edition of the Latin GRAMMY Awards.  By Lili Gil Valletta, Cofounder XL Alliance, Business & Politics Media Contributor

Brand commitment might not always be a good thing, and in the case of high-severity recalls, consumers with a high level of brand commitment may actually respond more negatively than those with less loyalty, according to researchers.

Word of mouth marketing is more effective than “traditional” marketing, according to 64% of marketing professionals interviewed in a new survey sponsored by the Word of Mouth Marketing Association (WOMMA) and the American Marketing Association (AMA).

A lot has been written on the difference between the Boomer and Millennial generations, but take a closer look and you’ll see the two generations have a lot more in common than you may think. There have even been instances when a message targeting one of these generations has also resonated strongly with the other. Could it be possible to tap into the over $3 trillion in spending power the combined audiences represent with one campaign?

The paper, available to the public as a complimentary download, provides companies with important context for understanding the changing dynamics of today’s multi-platform digital marketplace.

With an ever-growing list of channels for brands to connect with their audiences, it seems rational to expect that advertising and marketing campaigns are in a constant state of improvement. But what if these campaigns are fundamentally misaligned with consumer expectations?

Data is the lifeblood of marketing, yet marketers are extremely frustrated with their business information. There is a growing disconnect between what marketers want and need from their data and what they are actually getting, according to a new report by Domo, a cloud-based venture helping CEOs and other executives transform the way they manage business and get more value from existing investments in business data.

At the recent 2013 Hispanic Retail 360 Summit, a cross-channel conference, CPGs, retail experts converged to share insights on successful programs. There was unilateral agreement that now is the time to act strategically on the opportunities to approach the Hispanic and non-Hispanic consumers in unison.    By Carlos Santiago / Santiago Solutions Group

 As the discussion continues regarding the viability and implications of the “total market” approach embraced by so many major brands at the ANA Multicultural Marketing conference in early November 2012, I came across an interesting perspective from the folks at ReachingBlackConsumers.com  By Jose Villa / Sensis

Over the past 30 years, most companies have added new C-level roles in response to changing business environments. The chief financial officer (CFO) role, which didn’t exist at a majority of companies in the mid-1980s, rose to prominence as pressures for value management and more transparent investor relations gained traction.   Adding a chief marketing officer (CMO) became crucial as new channels and media raised the complexity of brand building and customer engagement. Chief strategy officers (CSOs) joined top teams to help companies address increasingly complex and fast-changing global markets.

Facing universal skepticism from consumers and stiff competition from a sea of competitors, how can a brand differentiate itself to win a loyal following—or at the very least, to prove itself worthy of its customers’ time? It boils down to two essential elements: trust and dynamism—the consumer’s perception that a brand has delivered on the promises of the past while simultaneously helping lead the way to a better future.

Pin it, scan it or share it – operating in a digital world has become second nature for most shoppers today, and retailers are taking full advantage of it. The use of social media platforms and mobile devices is exploding, and for millions of consumers there’s no doubt that this digital revolution is here to stay. With the understanding that this new path to purchase offers up a unique engagement opportunity, retailers are taking over the social scene, and shoppers are reaping the benefits. In this new modern retail environment, the shopping experience has never been quicker, easier or more interactive.

When I walked away from the ANA multicultural conference on Wednesday I felt high. No, I wasn’t smoking anything. I was high on what several presenters called the “Kool-Aid” of the “total market.”  By David R. Morse / New American Dimensions, LLC