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Idea Transcript


Data-Driven Marketing Decisions Adam Cook Research Director

Jim Cantore

Dalai Lama

Star Wars

Seth Godin

Research – Data - Analysis

Batman Apocalypse Vision

Badger Beer

The CIA

A Researcher’s Cliffs Notes to…

The Decision Making Process 4 3 2 1

Then you live with it.

You make a choice.

You analyze your options.

You encounter a choice.

The Villains

Source: Lucas Films

The Solutions

Source: Lucas Films

1

You encounter a choice.

The Villain: Narrow framing makes you miss options.

Source: Sony Pictures

The Hampton Roads Market

43rd Source: Nielsen – Scarborough Research, 2016 (R1)

Largest U.S. Market

Contribute $ to Military/Vets 1st

of 77 largest U.S. markets

27%

Source: Nielsen – Scarborough Research, 2016 (R1)

Spend 1 hour+/day on Social Media 44th

13%

of 77 largest U.S. markets

% visit Starbucks a least once a week Source: Nielsen – Scarborough Research, 2016 (R1)

36%

Drank beer past week 73rd

of 77 largest U.S. markets

20%

Drank liquor past week 34th

of 77 largest U.S. markets

Source: Nielsen – Scarborough Research, 2016 (R1)

16%

Play games on internet or app past month 41% 16%

3rd

of 77 largest U.S. markets

Source: Nielsen – Scarborough Research, 2016 (R1)

1

You encounter a choice.

The Villain: Narrow framing makes you miss options. The Solution: Widen your options.

2

You analyze your options.

The Villain: Confirmation bias leads you to gather self-serving information.

Source: Sony Pictures

2

You analyze your options.

The Villain: Confirmation bias leads you to gather self-serving information. The Solution: Reality-test your assumptions.

Decisions

Behaviors

Trends

Responses

Target Customers

Importance

Habits

Interactions

Perceptions

Experiences

“In marketing it is better to be approximately right than exactly wrong.”

3

You make a choice.

The Villain: Short-term emotion tempts you to make the wrong one.

Source: Sony Pictures

3

You make a choice.

The Villain: Short-term emotion tempts you to make the wrong one. The Solution: Attain some distance.

"The ultimate authority must always rest with the individual's own reason and critical analysis.” Dalai Lama

Tibetan Buddhism High Priest

“79 percent of businesses obsessively capture Internet traffic data, yet only 30 percent of them change their sites as a result of analysis.” Jeffrey Eisenberg

Internet Marketing Strategist and Author

4

Then you live with it.

The Villain: You’ll often be overconfident about the future. The Solution: Prepare to be wrong.

Source: Warner Bros.

Source: Sony Pictures

“TheThe future isn’t“Snowquester” a point; it’s a range.” 2013

Source: Decisive, Chip Heath and Dan Heath

The Process

The Villains

1

You encounter a choice.

Narrow framing makes you miss options.

Widen your options.

2

You analyze your options.

Confirmation bias leads you to gather self-serving information.

Reality-test your assumptions.

3

You make a choice.

Short-term emotion tempts you to make the wrong one.

Attain some distance.

4

Then you live with it.

You’ll often be overconfident about the future.

Prepare to be wrong.

Source: Decisive, Chip Heath and Dan Heath

The Solutions

Research, Data, and Analysis!

Source: Lucas Films

Use Insights and Act with Urgency The average company sacrifices 5% growth annually due to its failure to act on “disruptive ideas.”

Source: Columbia Pictures

Source: Columbia Pictures

So What and Now What Follow the “Decisive” model in decisions

Widen your options and reality-test with research Analyze, test, learn & adapt (continually) Act with urgency

Source: Lucas Films

Make data-driven decisions

“The cost of being wrong is less than the cost of doing nothing.” Seth Godin Marketing Guru

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