Welcome to the first edition of Ovative’s marketing/tech news digest in 2017 – 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: It’s a bird! It’s a plane!
No, it’s Amazon’s new “airborne fulfillment center”! Think – the Goodyear blimp, but with all of your essential Amazon items that can be brought to you by drone, from a floating warehouse. So fly.
How the Internet of Things (IoT) is Changing Marketing Attribution
Skyword | December 28, 2016
Quick pitch: Less is not more when it comes to marketing data, and the incoming wave of IoT devices will allow for a new array of information to factor into personalized marketing tactics. You keep your house at 62°? There’s a sweater here with your name on it.
Now I want the details: With so many connected devices producing unique and overlapping data on consumer behavior, marketers will increasingly be tasked with deciphering new data streams to uncover customer behavior trends outside of the interactions with their brand. For instance, Walmart used IoT data to conclude that berry sales are higher on days with warm temps and low wind, whereas hamburgers were more popular on hot and dry days. The door has been opened to more engaging experiences at all levels of the marketing funnel, if used appropriately.
What we’re thinking: Insights without actions aren’t much good. We think the trick is not simply in the acquisition or algorithmic attribution of new data points, but being able to quickly and efficiently pivot marketing tactics based on real-time data. In order to get ahead of the customer’s behavior, their current environment, and other ancillary factors, companies must have the right marketing technology and personalization strategy. We’re passionate about this.
New Role For Marketers: Data Translator
MediaPost | Dec 28, 2016
Quick pitch: A data scientist and a marketer walk into a bar… But seriously, you two should grab a drink and compare notes.
Now I want the details: MIT Sloan Management Review recently published an article that makes a good case for the value of an emerging skillset – one part marketer, one part data scientist. They argue that the next generation of impactful marketing organizations will engage team members with enough knowledge to create management-ready marketing strategy recommendations and coordinate research with their data science team. Right brain, meet left brain.
What we’re thinking: We agree, but the answer is usually not as simple as hiring one person to connect the dots. While the new Data Translator needs to have deep expertise in both data science and marketing, they can’t enact change by themselves. Team members from each group typically need training on how to interpret each other’s inputs. Whether or not your organization has a Data Translator, empowering leaders of both groups to share best practices and the theory behind their business will reduce friction and increase the marketing team’s ability to take action on the insights gathered by data teams.
Hey folks, here is our new section again called, “What We’re Into!”
No one puts baby in a corner, and Nate and I don’t want to be in a corner either. We’ll use this space to tell you about something we’ve been reading, watching or listening to in the past few weeks and why you might be interested too!
What We’re Into: The OA. A new Netflix series that we can’t say too much about without spoiling – it’s not your typical story of a girl gone missing for seven years. Science fiction meets psychological thriller meets multi-dimensional travel meets your next 24-hour Netflix binge.
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.