Good morning and happy Tuesday!
Welcome to the fourth edition of Ovative’s marketing/tech news digest – where we hope to keep you up to date on all things new and exciting within Marketing, Measurement and Technology.
Always informative, sometimes entertaining. Enjoy.
Fodder for the water cooler: We’re heavily biased Wisconsin fans (says a very disappointed Claire … not Nate), but, surprise, not everyone is as pumped up about March Madness as we are. Is that you? Check outStar Wars’ “This is Madness” and vote on your favorite characters.
Google Launches New Data Tools for Marketers | The Wall Street Journal | 3/15/2016
Quick pitch: The biggest thing since sliced bread – Google unveils its new suite of marketing analytics and data products.
Now I want the details: Google’s taking over the world! Just kidding, they’re only taking over the marketing analytics world. The new Google Analytics 360 Suite includes 6 tools, 3 new ones (Google Audience Center 360, Google Optimize 360 & Google Data Studio 360) and 3 redesigned ones (Google Tag Manager 360, Google Analytics 360 and Google Attribution 360). Google’s goal is to provide a centralized platform to track and store information about customers so marketers can have a single view of the entire customer journey. Major benefit? Google’s ability to integrate all of these tools under one roof. Can you feel the POWER!?
What we’re thinking: We’ve been fortunate to be involved in a number of discussions with the Adometry product team and our hope is some of our biggest asks (universal data download, more platform flexibility/customizability, more straightforward QA, etc.) will be incorporated into the new Google Attribution 360. While we’re expecting great things, we don’t foresee this change as having an immediate effect on your attribution solution – Google still has a ways to go (three of their new solutions are still in beta and the Adometry redesign launch date has yet to be announced). We’re keeping our ears to the ground (and dialog open with our partners at Google) and will keep you posted as we hear updates.
Adobe Summit: How Marriott and Macy’s Boosted Their Marketing Acumen Through Org Fixes |AdExchanger | 3/23/2016
Quick pitch: You can’t drive a culture that’s focused on data and analytics without some sort of organizational change management.
Now I want the details: In a conversation about the Kardashian’s, no one would expect a smooth conversational transition to quantum mechanics. Similarly, when discussing data and analytics, organizational change management isn’t the next thing on your mind. “We’re data monkeys! We don’t need soft skills!” False says Marriott and Macy’s at the Adobe Summit. Both companies touted the importance of aligning corporate objectives with increasing investment in marketing technologies and solutions. Marriott focused on small incremental wins to provide enough proof to drive larger, more complex projects. Macy’s started out with 15+ decision makers, which made getting things done slower then molasses in January. Solution? A centralized marketing unit which included governance & strategy, testing, analytics, systems, production and creative governance. Macy’s new goal? Focusing on supporting enterprise use cases and experiences vs. individual product updates. Eureka!
What we’re thinking: In moving organizations away from “Mad Men” to “Math Men” there is a significant amount of cultural change that’s involved. Companies have to shift from making decisions based on intuition and the whims of a few key players to decisions that are based on data. Sounds easy, but it’s actually surprisingly difficult, especially when your organization is large and is used to operating a certain way. Continuous alignment to enterprise goals, consolidating layers of decision-makers and documenting small wins along the way are just some of the techniques businesses can use to support these cultural shifts. Want some further reading? The Harvard Business Review wrote a great article on succeeding in a digital economy.
Discover How Marketing Analytics Increases Business Performance | think with Google | March 2016
Quick pitch: Want to be like the Marketer’s version of Kanye? Tie your performance to real business results. Marketers who adhere to well-established metrics are 3x as likely to hit their goals than others.
Now I want the details: Tying your performance to results requires the right set of tools. You wouldn’t use a jackhammer to fix a china set! Marketers with well integrated tools are more likely to outperform revenue goals then marketers whose tools aren’t well integrated. In fact, the number 1 factor in preventing marketers from capturing a complete view of their marketing and media campaigns is a lack of integration between marketing analytics tools. When your tools are integrated – organizations experience real financial benefits:
Additionally, 87% of sophisticated marketers can demonstrate the value of their marketing analytics tools to their business vs. only 26% of less sophisticated marketing organizations. Proof that even though it’s marketing, finance needs to see the value.
What we’re thinking: Marketing analytics tools? Sounds complicated. Or at least it can be if all of your tools aren’t playing nicely together AND no one else in your business understands what they are. We think it’s super important to first, know what you have, second, know how it all works together and finally, how it drives value for not just your marketing department but for your enterprise as a whole. Once those pieces are aligned guess who’s able to drive massive and meaningful organizational change? (it’s you!)
Finally – John Tyler, one of the former US presidents you probably forgot about celebrates his 225th birthday today. #merica
Ovative/group is a measurement and activation agency focused on activating enterprise value through marketing, measurement, and technology services. Through our 20+ related engagements over the past three years in this space, we’ve observed some common themes that, when considered, greatly increase the probability of building solutions that lead to lasting capabilities rather than shiny pennies few are willing to adopt.
Our clients span multiple industries, including retail, healthcare, education, CPG, and hospitality; for companies with sales that range from $250M to $100B. We engage with our clients both as advisors and as outsourced service providers; as a neutral measurement partner or as an end-to-end measurement and activation solution provider.