Thursday 10 March 2011

Transparency

Transparency and simplicity. Time to get with the program.

If we don't start today someone else will. As analytics guys we tend to bask in the glory of the complexity of our work. But that world has changed and will never return again.

More and more marketing is now digital, and as that happens more marketing plans have better measures of activity. At that point they get analysed, drivers get quantified and everything becomes understood. That's what is called transparency

So how do we, as analysts create a large scale change in how marketing gets done? This is my starter - not exhaustive and I would really like to hear your views:

1. Demand that every activity has a commercially focussed success measure.

No more eyeballs, footfall or visits - We need to hear revenue uplift and cost-per measures.

You might start by making these up, but if you commit to them you can adjust your forecast; the finance guys do every day, and they are being listened to

2. Create measurement partnership programs

Many of digital partners (GOOG, MSFT, YHOO, FB, OMTR etc) are collecting and storing data on behavioral activity and, in turn, creating better mousetraps that help us crack the ROI code. They also want to increase their share of client spend and are looking for proof points. Work with them, it's not a lose of face to accept we don't know everything

3. Do something different

Transparency kills the dark art of measurement somewhat and much about measurement in this new world is now around observation. Follow trends and explore new opportunities, set some expectations around effect and get on with it.

The concepts of 'Business' and 'Brand' used to be disconnected, however, in board rooms all around the world marketing is still undertaken to build business. We used to come up with a multitude of excuses as to why we could only measure what we could.

That time is over - this is the time of transparency

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