Marketing T and A Quiz 1

What are the top three challenges in data driven marketing?

1. Improving data quality 2. Integrating data across platforms. 3. Raising levels of analytical skill

What are the five obstacles common to companies adopting data-driven marketing process?

1.Getting Started - Too Much Data 2.Causality - Too Many Variables 3.Lack of Data - Not Collecting 4.Resources and Tools - Cost and IT issues 5.People and Change - Skills and Accountability

What results did they achieve?

2700 unique logins; Average time - 15 minutes; 5670 posters delivered; 500 shares; 30% respond rate

What was the take rate for their test drives in the Porsche First Mile Campaign?

3,000 test drives, 400 cars sold, 13%

What is Brand Awareness and what metrics do you us in tracking it?

Ability to Recall a product or service brand recall, traffic, social mentions, loyalty, email engagement, content reach

What is Evaluation Marketing and what metric do you use for this?

Awareness and Branding are intertwined charts, brochures

What differentiates Brand Awareness vs. Brand Recognition?

Brand Awareness = Ability to Recall a brand product or service, unaided Brand Recognition = Ability to Call out or assign a Brand as a candidate for a product category from imagery or list. aided

What are the five marketing investment areas? What do successful companies invest in?

Demand Generation Branding and Awareness Customer Relationships Shaping Markets Infrastructure They invest in customer equity and infrastructure and capabilities.

How should a firm respond with their marketing budget during an economic downturn and why?

Maintain or Grow Investment by Solidifying Customer Base, Capturing Business from Competition, Position for Growth in Good Times. performing firms spend more on branding, customer equity and technology

What was IC Bus's strategy to survive an economic downturn?

Make an electronic bus, show stats of buses, and give away the buss and scholarship to most green school.

How did Walgreens secure $500,000 in savings in marketing costs?

Mapping their customers, ads, in store tracking.

What are three major sources of data in the flow of Marketing Information?

Market Research Studies, Internal data sources, external data sources.

What is plaguing most companies around marketing data and analysis?

Marketing Without Data; 50+ Companies do not use Return on Marketing Investment (ROMI)

How was Sears' approach to marketing killing their business? What was the fix?

Prints 250 million catalogues, which costs 25% of their revenue. They fixed it by targeting and establishing 25 segments, matching products to groups.

How did Dupont Tyvek activate their dealers?

Put their brand onto a nascar driver's car, with prizes for attenders at the weekend race.

What did Porsche do to launch their new 911.

Stamped Metal Plate; Press Release; Website Engagement

Why run small data-driven experiments first? What are the benefits?

You can scale up from 10 people to 1,000. 1.Cost is low 2.Scale Easier to Implement 3.Feedback is Faster 4.Create an early win! 5. less risks 6. challenge ideas. 7. excitement

What did Ray Ban create for their test drive?

a new technology to use a webcam to see your glasses online.

What creates the multiplier effect in a marketing budget around take rate and customer acquisition?

acquisitioncost

What is Demand Generation Marketing?

bridges the gap with your company's sales and revenue operations.

How do rewards programs generate data for Suntory?

can see the amount of visits

What approach did Microsoft use in preparing for a product launch?

co-branding

What is the Golden Marketing Metric? and how do you measure it?

customer satisfaction, measured by reccomendation to others

What are the main reasons businesses lose customers?

customers don't feel valued, dissatisfied, because of price

What companies were disruptors in the shaving market and how does controlling churn bring profits to bottom line.

dollar shave, harry's. Helps spend less money on new customers.

How does the friendship machine generate data for Coca Cola?

gets buzz for people to talk about the machine, sharing the drink with others

What is a Loyalty Metric? How do you calculate it?

loyal customers, •Churn = % of existing customers lost over time (year)

What types of incentives could you employ within your organization to move people toward a data-driven marketing culture?

money, prize, raise, trips

What are the three classes of data-driven marketing metrics and their perspectives? Example metric of each.

strategic-forward looking tactical, backward looking operational-internal looking

What is a competitive advantage in a company?

the attribute that allows an organization to outperform its competitors

What it the pink tax really revealing in the market?

women versions, of the same product, cost more

What happens when you cut your Churn rate?

you have more money and loyal customers, rather than a high churn rate when you lose money looking for customers.

What are the challenges for B2B marketers in tracking customers?

•Customer is not direct contact •OEM Manufacturers need still test feature sets for products and impact of marketing •New Product Launches need testing in the wild •OEM Evaluative Marketing