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Entries categorized as ‘2 Brand Awareness / Misc’

Google Marketing Mix Modeling

November 11, 2009 · Leave a Comment

via: MediaPost

The ‘Big Challenge’ According To Eric Schmidt — And Other Predictions

Google backed away from managing radio and print advertising networks due to lack of “closed loop feedback.”  In other words, the company couldn’t tell an advertiser IF the consumer actually saw the ad or if they acted afterwards. Efforts to embed unique commercial identifiers into radio ads exist, but are still immature. And in print, it’s still not possible to tell who (specifically) is seeing which ads — at least not until someone places sensors between every two pages of my morning newspaper.

Despite this limitation, Schmidt feels that Google will soon crack the code of massive multivariate modeling of both online and offline marketing mix influences by incorporating “management judgment” into the models where data is lacking. This will enable advertisers to parse out the relative contribution of every element of the marketing mix to optimize both the spend level and allocation – even taking into account countless competitive and macro-environmental variables.

That “everything is measurable” and, according to Schmidt, Google has mathematicians who can solve even the most thorny marketing measurement challenges.

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That the winning marketers will be those who can rapidly iterate and learn quickly to reallocate resources and attention to what is working at a hyper-local level, taking both personalization and geographic location into account.

On all these fronts, I agree with him (I’ve actually said these very things in this column over the past few years).

So when I caught up with Schmidt in the hallway after his speech, I asked two questions:

1.     How credible are these uber-models likely to be if they fail to account for “non-marketing” variables like operational changes affecting customer experience, and/or the impact of ex-category activities on customers within a category (e.g. how purchase activity in one category may affect purchase interest in another)?

2.     At what point do these models become so complex that they exceed the ability of most humans to understand them, leading to skepticism and doubt fueled by a deep psychological need for self-preservation?

His answers:

1.     “If you can track it, we can incorporate at into the model and determine its relative importance under a variety of circumstances. If you can’t, we can proxy for it with managerial judgment.”

2.     “That is the big challenge, isn’t it?”

So, my takeaway from this interaction is: Google will likely develop a “universal platform” for market mix modeling, which in many respects could be more robust than most of the other tools on the market, especially in terms of seamless integration of online and offline elements, and Web-enabled simulation tools. While it may lack some of the subtle flexibility of a custom-designed model, this platform will likely be “close enough” in overall accuracy, given that it could be a fraction of the cost of custom, if not free. The tool will likely evolve faster to incorporate emerging dynamics and variables, as the company’s scale will enable it to spot and include such things faster than any other analytics shop.

If Google has a vulnerability, it may be underestimating the human variables of the underlying questions (e.g. how much should we spend and where/how should we spend it?) and of the potential solution.

Reflecting over a glass of cabernet several hours later, I realized that Google’s developments are generally good for the marketing discipline, as the company will once again push us all to accelerate our adoption of mathematical pattern recognition as inputs into managerial decisions. Besides, the new human dynamics this acceleration creates will also spur new business opportunities. So everyone wins.

read article and comments here.

 

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Twitter Metrics

November 9, 2009 · Leave a Comment

Smart Digital Spendingvia: DMNews

Marketers excited for metrics opportunities from Twitter tool

Email Data Source last week debuted a Twitter monitoring tool at the Ad:tech trade show in New York. The e-mail data analysis firm will incorporate the Twitter measurement tool with its existing e-mail analytics tool.

The platform will be available to clients, with plans to market it to prospects as well.

Bill McCloskey, chairman, co-founder and chief evangelist at Email Data Source, said the tool will enable marketers to measure Twitter’s impact on the traditional brand marketing perspectives of reach, frequency and effectiveness.

Tweeters and re-Tweeters are, in a sense, broadcasters, added McCloskey.

“This will allow you to see who your most influential broadcasters are over time,” he said. “It puts the social media conversation back in traditional terms marketers understand.”

Email Data Source will monitor how many people each brand message reaches, who are the most successful “rebroadcasters” of that message; the overall impact of the message and how it relates to the brand’s Web traffic.

Sean Cummings, principal of SXC Marketing, said that Twitter-monitoring tools will help clients who are not fluent with the platform understand it better.

“The clients understand GRPs [gross rating points], and it is speaking to them in that language,” he said. “Until they’re all replaced by people who understand digital media, you have to talk to people in a language they understand. Not having GRPs online has hindered its growth.” Cummings is a former marketer, logging time at both at American Express and Ask.com.

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In September, more than 15,000 unique e-mail campaigns contained a brand’s Twitter or Facebook sign-up page, according to Email Data Source’s data. The social media data intelligence could improve a marketer’s ability to evaluate the ROI of marketing efforts through Twitter.

“We’re always trying to understand what our customers are saying, as well as what our competitors are saying to our customers,” said Gretchen Scheiman, partner and associate director for e-mail marketing at OgilvyOne. “This tool gives us the ability to understand both.”

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An Online Media Planner finally learns about Affiliate Marketing and WordPress

November 6, 2009 · Leave a Comment

Smart Digital Spending

Just like the title says, I never really knew much about affiliate marketing although I work in digital media. Most of my experience lies in online display, paid search, and traditional offline channels like TV, radio, and print. Back when I was working on the American Express online display direct acquisition campaign, my client was also leading the affiliate marketing team and was going crazy managing affiliate marketing initiatives as well as digital. One thing I do recall is my client mentioning that Amex credit cards were generated more efficiently by affiliates than they were by placing Amex display ads across several different sites. Other than that, I never really knew much about affiliate marketing until the other day when I saw Matt Bailey give a presentation about the subject, and boy was I amazed.

Matt suggested for those who wanted to learn more to check out http://www.affiliatestuff.co.uk/. A couple of days later I finally got around to going to the site and there is a wealth of information there. Not to mention, Kirsty McCubbin who runs the site is so friendly and responsive. I sent an email and she immediately responded, and not with just a few words, but rather was genuinely sincere. Most of my questions were geared towards WordPress and she has a great deal of information about how to use WordPress for your affiliate marketing programs. You can read more information here.

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Ad Visibility Metrics for Online Video Campaigns

November 2, 2009 · Leave a Comment

Smart Digital Spending

via: PR Web

EyeWonder First to Offer Ad Visibility Metrics for Rich Media and Video Ad Campaigns

Atlanta (Vocus/PRWEB ) November 2, 2009 — EyeWonder, Inc., an innovator in interactive digital advertising technologies and services, today announced the global rollout of its Ad Visibility Suite, a set of metrics designed to give advertisers and publishers in-depth analysis of the actual real time an online ad is physically within the viewable area of a browser.

Among the metrics included in the suite are total time (in seconds) an ad is physically visible to users within their browsers, average visible time (in seconds) and visible time by percentage of visible area. Beyond interaction and click-through metrics, the Ad Visibility Suite tells advertisers which parts of their ads are actually visible at any given scroll position.

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“As a leading innovator in the interactive digital advertising space, we’re pleased to be the first rich media provider to offer these visibility metrics to our clients,” said Ricky McClellen, EyeWonder’s Chief Information Officer. “They make a great addition to our already robust reporting platform by complementing the ad interaction data we provide. Customers get a more comprehensive view of their ad performance by seeing the exact amount of time users have ads in their browser windows and comparing that with length of engagement. We’re bringing these two pieces of the puzzle together to provide a more complete picture of what constitutes a successful online ad campaign, resulting in more meaningful measurement.”

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Percentage of budget allocated to online video

November 2, 2009 · Leave a Comment

Smart Digital Spending

via: MediaPost

Standards are beginning to emerge for video. Measurement reporting and tracking will standardize. These are among the signs that video will become part of the mainstream ad budget in 2010.

During the keynote at OMMA Video in Los Angeles Friday, Ross Levinsohn, general partner for Fuse Capital, reminisced about a dinner meeting with executives just four years ago who had hoped “the whole digital thing would just go away.” Advertisers are starting to spend money across several platforms, including video. About 10 million people worldwide watched the U2 concert on YouTube Sunday night, he says.

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As media consumption continues to change, Levinsohn predicts that 2010 will be the year that video breaks through and becomes part of the mainstream advertising media buy. Supporting the prediction with stats from YouTube, Hulu, eMarketer, Yankee Group and others, he says YouTube streams about 1.2 billion videos per day worldwide. Hulu streams about 488 million monthly video streams. About 26% of the U.S. Internet audience streamed a full-length TV show in August. The average consumer watches about 157 videos per month, he says, citing comScore.

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Marketing Research Analyst Skills

October 31, 2009 · Leave a Comment

Smart Digital Spending

Some of the usual responsibilities and requirements of a Marketing Research Analyst

RESPONSIBILITIES:

  • Manage market research projects in partnership with third-party research vendors
  • Mine company databases, external data resources and industry analyst’s research to locate relevant information, studies, etc.
  • Maintain and develop relationships. Develops and/or communicates strategy to implement the objectives of the organization and guide others in linking their activities to quantitative research and supporting data.
  • Develops analytical solutions to company’s business problems
  • Understand and access information from leading industry research and/or data providers (e.g. Forrester, DMA, Hoover, etc.) to help company answer competitive questions, marketplace trends, develop effective client presentation and lead generation activities and more.
  • Track and analyze the competitive marketplace
  • Analyze the effectiveness of corporate marketing and sales campaigns including direct mail, email, telemarketing, events, and other marketing activities.
  • Prepare specific analytic deliverables, including reports, graphs, presentations, etc.
  • Serve as an advocate for and resident expert on marketing analytics and research through deep knowledge of all our data and relevant research resources.
  • Perform other duties and projects as assigned.
Required Skills

REQUIREMENTS:

  • 5+ years’ experience in database marketing analysis including analytics, direct marketing test design, response analysis, ROI analysis, segmentation analysis, customer profiling, etc, preferably with a marketing service provider.
  • Experience in quantitative market research, including use of online surveying and analytical tools. Familiarity with market research activities, including questionnaire development, statistical methods, etc.
  • Experience in qualitative market research, such as focus groups.
  • Excellent oral and written communications skills; ability to translate data into information, then into business recommendations.
  • Creative thinking, exceptional analytical skills coupled with solid business acumen
  • Solution seeking – Interested in “figuring out” solutions to problems or methodology for improved client deliverables.
  • Self-motivated and self-directed, though able to work effectively as a team member.
  • Responsive, enthusiastic, team-oriented personal style for effectiveness with internal customer and colleagues
  • Strong expertise in computer software, including Microsoft Office products, SPSS (or similar analytics program), and others.

To find the best Research Analyst Jobs, click here.

 

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Internet marketing analyst skills

October 31, 2009 · Leave a Comment

Smart Digital Spending

In general, what does an internet marketing analyst do?

Internet Analyst is responsible for preparing and interpreting internet performance data to provide decision support information for establishing market, source and site direction & strategies. The incumbent is responsible for monitoring and evaluating the success of internet programs, conversion & provide decision support data for maintaining existing campaigns & programs. The analyst is responsible for aggregating data from multiple sources (i.e. Omniture, Google Analytics, internal data warehouse, external intelligence tools, etc) to summarize KPI trends and provide business recommendations. BS in Statistics, Mathematics, Computer Science, or EE with Data Mining or Machine Learning major. Graduate a plus.

To find the best Internet Marketing Analyst jobs, click here.

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Online marketing analyst skills

October 31, 2009 · Leave a Comment

Smart Digital Spending

What are some of the skills to look for in an Online Marketing Analyst?

•BS/BA Degree in Business, Math, Statistics, Computer Information Systems or related field.
•2 – 4 years experience in quantitative analysis of marketing programs or website & customer performance.
•Knowledge of web site design and its impact on the customer experience.
•Strong analytical background, demonstrating an ability to collect data, analyze trends, find opportunities, draw conclusions and make recommendations.
•Detail oriented, well organized & able to assume responsibility for project deliverables with limited supervision.
•Ability to deliver results in a fast-past, deadline driven environment that requires ability to handle multiple tasks at once.

Read my blog post on what interview question to ask an Online Marketing Analyst here.
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•Strong interpersonal skills and a demonstrated ability to work effectively both independently and in a team environment.
•Strong organizational, verbal & written communication and presentation skills.
•Advanced Proficiency in Microsoft Office Applications; Demonstrated expertise with SQL and MS Excel (including experience writing queries and statements using SQL).

To find the best Online Marketing Analyst jobs click here.

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How to measure your brands online reputation

October 31, 2009 · Leave a Comment

Smart Digital Spending

How to track your reputation online

via: Boxuk.com

What is reputation, and why does it matter?

According to the ever-accurate Wikipedia, reputation is a “social evaluation of the public towards a person … or organization”. This evaluation is considered when making decisions regarding that person or organization, such as whether to make a purchase from them. In fact, according to a reference in the same Wikipedia article, a good reputation can be directly linked to the ability to charge higher prices (for example, on eBay).

In some ways, reputation is the post-sales equivalent of what brand is to pre-sales. You can buy brand, but have to earn reputation. Especially in the online world, where brand has less sway over your purchasing and visiting decisions, reputation should be your long-term priority.

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In short, then: reputation = revenue.

Measuring reputation – and importantly, how it changes as you implement tactical decisions or write about particular subjects – is therefore incredibly important, so that you can determine what works and what doesn’t.

In the physical world, this measurement is especially difficult, and relies heavily on surveys. It’s not particularly straightforward online either, but at least we have some fairly easy-to-calculate metrics that can be used as starting points.

read full article here.

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What is Brand Awareness?

October 21, 2009 · Leave a Comment

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What is Brand Awareness?

Brand Awareness according to BNET Business Dictionary, examines three levels of recognition: whether the brand name is the first to come to mind when a consumer is questioned about a particular product category; whether the brand name is one of several that come to mind when a consumer is questioned about a particular product category; and whether or not a consumer has heard of a particular brand name.

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Are there any additional ‘brand’ definitions such as brand image, aided awareness, brand preference and more?

Definitely! Check out Dave Dolak’s blog: Brands and Branding Basics

How can you measure Brand Awareness?

If you don’t want to rely on 3rd party survey studies to tell you whether or not if ‘the purchase intent’ or ‘recall of a tv ad’ went up a few points, you can use Direct Traffic as a proxy for TVs impact on brand awareness. Read more here.

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