Modelling and big data techniques are data focused i.e.
you can ONLY see what is contained in the data. But they
are very persuasive looking techniques….so we often
see discussions on strategy and budget allocation where
anything that isn’t visible in the data just gets forgotten!
Here are two examples of what can happen, and how you
can guard against making the same mistakes.
PACKAGING GOT LOST
-
MARKET MIX MODELS WORK BY OBSERVING HOW CHANGES TO MARKETING ACTIVITIES AFFECT
OUTCOMES (USUALLY SALES). That means you need suitable data for the activity, and
there have
to be changes, like periods of inactivity, or changes to execution. So what does a
model typically
tell you about the importance of Packaging? Nothing. Because there is no data input,
it is always
present, and very rarely changes.
-
WHEN WE RAN A MARKET CONTACT AUDIT® (MCA®) study for a large food company, the data
clearly
demonstrated that packaging was the biggest source of Brand Experience™ for
consumers in
the category (bigger than TV Ads and In-store promotions) and was critical to
helping consumers
convert attitude into behavior i.e. make a purchase
-
THE BRAND SUCCESSFULLY RECOMMENDED TO RE-SHAPE its priorities and budget allocation,
so
that packaging now gets the support it deserves in all marketing initiatives
THE BRAND FORGOT
ITS BIGGEST ASSET
-
RECOMMENDATIONS & WORD OF MOUTH had always been a competitive advantage for another
grocery brand. ‘Big data’ was used to understand how this was working and what it
contributed.
However, in a very low engagement category, the level of digital dialogue was very
small, which
led the brand team to de-prioritize it. But that wasn’t the whole picture – all it
was telling them
was that Moms didn’t use social media to talk about their brand.
-
WE RAN AN MCA® PROJECT AND SHOWED THE REAL PICTURE. In fact, expert recommendation
was
highly influential for consumers, and the brand in question has a major competitive
edge i.e. this
is a really important asset and should be protected. It would be a HUGE mistake to
let it fade away.
-
THE BRAND TEAM IMMEDIATELY SHELVED PLANS TO REMOVE THE ENDORSEMENT BY A PROFESSIONAL
BODY FROM PACKAGING, and launched an initiative to see how this endorsement can be
better
leveraged across the brand’s advertising, in-store merchandising and digital
assets.ssss