Customer is king. Always. Whether in B2B or B2C settings. With much writing this week on the importance of a Customer Centric approach where B2B organizations need to develop a much deeper understanding of the modern Customer Decision Journey.
Questions have been raised as per whether Multichannel Marketing Mix approaches have been based on the right models and research to measure results.
With the hype of a report to be issued by the Council for Research, currently investigating measurement issues related to digital video advertising, report that in turn will form the basis of an Advertising Research Foundation inquiry into the quality of the models.
“We believe it’s important to bring a combination of modeling, information and expertise to decisions “a P&G spokesman said in a statement to AdAge “We have clear evidence that marketing-mix modeling, combined with other information and expertise, has helped to improve return on investment of our marketing spending and media buying.”
Can big data really improve the customer experience with personalized ads, products and service offerings?
For certain big data can say a lot about preferences and even location. But with constantly increasing terabytes of data, in structured, semi structured and unstructured formats. To make sense of it all is to say the least challenging.
The more so for businesses, which do not have their own platform from which to gather this data, nor the technical tools or analyst expertise to navigate and make sense of data gathered from their websites, blogs and external social platforms.
What do you think?