Lagging Indicators Won’t Make It!

Summary

The consumer journey is characterized by 5000 touchpoints per week creating an almost impossible analytic challenge for marketers. As a consequence, marketers are moving away from aggregated data to individualized data and personal messages. The authors suggest that to succeed at this personalized marketing effort, marketers need real time information on their individual consumers and not aggregated rear view data. To improve marketing effectiveness, the presentation suggests you need the ability to adjust the campaign in real time on several parameters: channel mix, detail, person, frequency, creative and flighting.

In order to make these adjustments, the authors offer a “graph schema” approach to managing media, location, sales, CRM, social, search and brand image data. They use an online/offline integrator to connect these data to individual people. Having created and person level database, the authors describe “personalized scaling”, a process by which they aggregate person level data to geolocated clusters where media can be bought. They illustrate an execution of the process for a Walmart store and show the media spend, reach, frequency and CPMs used to achieve the success.