Hey! In this edition of the Data & Marketing Science newsletter, you’ll find an explanation of what a CXO audit is in the Data Spotlight, a discussion on holistic media effectiveness measurement in Market Trends, and a case study about a Test & Learn roadmap in Data Deepdive.
Data Spotlight
CXO Audit
A CXO audit examines the customer journey on a website. Using data from the web analytics tool, we look at what happens in the journey and where the biggest opportunities lie. These insights are combined with analyses based on conversion principles, a competitor matrix, and (AI) heatmaps. Based on all these insights, opportunities and test hypotheses are formulated, which are then validated in a testing process. The result? Scalable learnings about your target audience’s customer journey.
Is your client looking for opportunities to optimize their online journey? Our CXO team is happy to help!
Market Trends
Holistic Measurement of Media Activity
Media has many aspects to optimize – think of content, channel, platform, budget, target audience, control, etc. – and advertisers therefore have many related marketing and media questions to answer.
On the other hand, both our advertisers and we at GroupM have more and more data, tools, and measurement methods available to answer these questions and optimize media: Marketing Mix Modelling, Brand Trackers, Attribution Models, Lift Studies and Experiments, Q-Reach, Copilot, TV Attribution Tooling, OptiCuves, and so on.
Due to the complexity and dynamism of our field, this situation of having many tools will not change for the time being, and we do not foresee a ‘silver bullet’ or a simple solution when it comes to measuring media effectiveness.
Therefore, we see the focus within measurement shifting from data and tooling to the right people, with the right skills, collaboration, ownership, and orchestration of all of this. Data and tools are nice, but without the right knowledge, processes, and organization-wide support for data-driven optimization, investments in these will not be recouped.
Does your client have a similar challenge? Contact our Data Consultants and read the book “Competing on Analytics” by Thomas Davenport and Jeanne Harris.
Data Deepdive
Test & Learn Roadmap for IKEA
Like many other clients, IKEA runs various campaigns throughout the year. A lot of testing is done in all these campaigns, but previously there was no clear overview of learnings. Our Marketing Analysts have developed a strategic test-and-learn roadmap based on the annual strategy, the KPI framework, and the client’s business issues. Read more about it in the case study.
Agenda
Internal Training & Events
- Hocus Pocus, Keep the Focus – KPI setting for and with your client – January 28th
- CXO ad optimization training – March 13th & 27th
- Create your AI-Assistant – February 13th
External Events
- Superweek Analytics Summit – January 27th – 31st
- AI on the Amstel Meetup – January 29th
- Behavioural Design Fest – February 7th
- Privacy-Centric AdTech Summit – February 13th
