Market Analytics Midterm
| Study Guide, Exam
Review & Practice
Questions
|Guaranteed success|
, Credibility CEOs don't TRUST marketing:
- 73% of CEOs state: "marketers lack business credibility and the ability to
generate sufficient growth".
- 80% of CEOs simply don't trust marketers at all, but 91% do trust CIOs and
CFOs.
Formal Definition of Marketing Analytics a process for measuring and analyzing marketing data to better manage
marketing performance and maximize the return on the investment that a
company makes in marketing.
What's a business process? a sequence of repeatable steps that consistently produces a desired outcome.
Analytics process components include: - People
- Inputs
- Steps
- Tools & technology
- Outputs
The people Who are the STAKEHOLDERS and beneficiaries of the marketing analytics
department?
Examples of the people - The marketing team: CMO & marketing staff
- The SALES team
- The executive team
- All employees
- The CUSTOMERS
- The shareholders
The inputs 1. Goals & objectives!
- Who determines these?
2. DATA
The steps: The Business Process 1. Identify the right METRICS.
2. Figure out how to collect the DATA.
3. TRACK the metrics over time.
4. ANALYZE the results to gain insights.
5. Take IMPROVMENT actions.
6. REPEAT the process.
The outputs 1. Insights
2. DECISIONS
3. Credibility.
4. INFLUENCE
| Study Guide, Exam
Review & Practice
Questions
|Guaranteed success|
, Credibility CEOs don't TRUST marketing:
- 73% of CEOs state: "marketers lack business credibility and the ability to
generate sufficient growth".
- 80% of CEOs simply don't trust marketers at all, but 91% do trust CIOs and
CFOs.
Formal Definition of Marketing Analytics a process for measuring and analyzing marketing data to better manage
marketing performance and maximize the return on the investment that a
company makes in marketing.
What's a business process? a sequence of repeatable steps that consistently produces a desired outcome.
Analytics process components include: - People
- Inputs
- Steps
- Tools & technology
- Outputs
The people Who are the STAKEHOLDERS and beneficiaries of the marketing analytics
department?
Examples of the people - The marketing team: CMO & marketing staff
- The SALES team
- The executive team
- All employees
- The CUSTOMERS
- The shareholders
The inputs 1. Goals & objectives!
- Who determines these?
2. DATA
The steps: The Business Process 1. Identify the right METRICS.
2. Figure out how to collect the DATA.
3. TRACK the metrics over time.
4. ANALYZE the results to gain insights.
5. Take IMPROVMENT actions.
6. REPEAT the process.
The outputs 1. Insights
2. DECISIONS
3. Credibility.
4. INFLUENCE
