Data Day Dishes up Best-In-Class Analytics Ideas
Data Day is a dream realised for anyone who thrives off hot analytics tips, buffets of mystery meals and close proximity to global leaders in their respective fields.
And, I most certainly do.
If you could encapsulate the essence of the event from every talk we listened to, it would be this:
In a world packed with fast-food media, making decisions backed by cold, hard facts has never been more important. Data and analytics provide a way for businesses to navigate in the dark and get to know their customer intimately, no matter what size they are.
Rebekah Campbell, founder of Hey You and Zambesi, was the one to deliver the break shot of the day, and let’s just say, it was a strong one. Here are some nuggets I took from it:
- Use data and research to innovate in the early stages of creating a product, then again at each stage of the innovation process
- Key operating metrics: acquisition, activation, retention, revenue, referral
- Customers to care about power (10%), churned (40%), new (20%), casual (30%)
- Conduct growth innovation experiments in 8-week sprints to test new ideas
Steve Lesnard – VP Global Brand Marketing & General Manager of Nike – gave the kind of talk that made you duck-dive for your pen. The lasting sentiment was that insights illuminate the path to innovation and distinction.
A few highlights:
In order to build lasting brand insights, have a clear mission and purpose for your brand that sets the culture for your company, defines who you’re trying to serve, and identifies the value you’re bringing to consumers.
- Consumer obsessions change. Their expectations grow. They are in charge, and they want engaging personal messaging. How do we do this? Solve problems for them, understand their pain points and know how you’re going to add value to their lives. Inspire them. Break through so they remember who you are and what you stand for.
- The power of a big idea is that it empowers you to be innovative, distinctive, nuclear. (Nuclear, to be clear, is when you take something small and blow it up to massive.)
- In order to build lasting brand insights, have a clear mission and purpose for your brand that sets the culture for your company, defines who you’re trying to serve, and identifies the value you’re bringing to consumers.
- Focus on your most valued customers or ‘super users’. Understand who they are, how you can serve them in the best way possible. Move from selling to service, transactions to lifetime values, initiatives to consumer journey, and personalisation to scale.
Jared Geurts, Senior Director of Analytics for Utah Jazz, gave us a glimpse into the niche world of NBA, where he revealed how they unlock customer data to create personalised ticket packages and offers to their enormous fan base across the United States.
And, finally, two key insights we took from Sebastian Henrici, Head of Partnerships & Solutions at Google Marketing Platform:
Consistency is key.
- 69% of customers expect brands to deliver consistent experiences
- 35% believe brands are delivering these experiences
If you want to learn more about the lineup, visit the ADMA page – or stalk the speakers on LinkedIn, because some of them publish great articles.
An enormous thanks to ADMA for the hit of inspiration.