On April 2, Shirley provided a solid overview of Tim Cook’s recent apology to the Chinese market regarding Apple’s incongruous warranty policies in China. The controversial mishap elucidates the global imperative for businesses to increase their knowledge, confidence, and skills for serving customers across disparate cultures. This perspective implores globally integrated enterprises to seamlessly integrate best practices in customer value with multicultural awareness so that consistent value may be delivered to all customers, regardless of cultural differences. Anand Subramaniam, VP of Worldwide Marketing at eGain Communications Corporation, dubs this process Multilingual, Multicultural Customer Service (MMCS) and outlines six suggestions to develop it: (1) assess the importance of customer service, (2) assess target markets, (3) assess the scope of customer queries, (4) train agents, (5) adopt culturally nuanced policies and practices, (6) leverage technology. Although there is certainly no magical formula for serving a diverse customer base, Subramaniam’s recommendations illuminate the fundamental need to understand differences and act on commonalities. Realizing and responding to these points of parity and disparity lead to real cross cultural synergies in the customer value sphere. However, easier said than done. Developing and implementing best practices to leverage cultural diversity will undoubtedly remain a necessary challenge in today’s global business environment.
AdWeek featured an article yesterday called “Three Brands That Used Data to Transform Their Media Strategies” that reflected many of the themes we have been learning about. In examining case studies of Proximity London, McCormick, UPS and Sprint, the article emphasizes 1) the overwhelming availability of data produced today and 2) how analyzing such data effectively is becoming a key means of realizing efficiencies and gaining a competitive edge. These four case studies reiterate the a key point of Precision Marketing, that “data a fundamentally important because data drive insight, insight drives relevance, and relevance drives customer loyalty” (85).
As a side note, this article also demonstrates the value of the analytics education we’re receiving this year in Marketing and Customer Value. Though SPSS can be overwhelming, it looks like ANOVA and chi-squared cross tabs really are the future of market research.
One of the many accounts I follow on twitter is @petechasmore of Mashable. Beside being a prolific tweet for the social new aggregate he is also I pretty funny dude. More than a couple of times a day I click on a link and browse at a Mashable post (or at least leave it in a lonely browser tab).
Today I came across this provocative blast suggesting that Big Data may not be all it’s cracked up to be. We’ve heard about the wonders of Big Data and the challenges to sift through it from S&S right up until our last class. We know that it helps marketers understand even the most seemingly trivial bit of minutia to laser pinpoint ads. And yet many of us have had that weird Facebook ad that makes us ask “Why did they think I wanted to see that!“
While it’s not a big sample size (or really anything more than a thinly veiled advertisement for Enliken) it does pose an important question. What if all this data we’re collecting, that we’re spending all this money and time to analyze, isn’t actually correct? Curious to see what my data says about me I took the quiz too. According to Enliken advertisers are about 59% correct about my likes and dislikes. Some of them it’s pretty obvious why they are there. Sure, I google and read about finance–but it’s not an interest of mine. That’s pedantic, but some were really off base: I don’t speak Spanish, I’m not a car buff, or, gods forbid, looking for parenting advice.
I sure do like southeast Asian food, so they got that right.
Take the quiz here.
In class, we briefly discussed the challenge of measuring multi-channel attribution, but what are businesses actually doing about it? To quickly review, multi-channel attribution refers generally to the process of parsing out how, and to what extent, different consumer touch points influence consumers’ buying behaviors. However, different stakeholders have concentrated this definition differently. For clarity sake, we can distill these differences into three common focuses: (1) the impact of online communications on offline sales, (2) the consumer experience across multiple devices as it drives toward conversion, and (3) the consumer experience across multiple digital marketing channels as it drives toward conversion.
All such articulations are plagued by the same underlying challenge. Although marketers in today’s omni-channel marketplace must accurately measure the value of different channels to strategically allocate their resources for the highest conversion rates, the cross-channel attribution technologies to do so are both underdeveloped and in short supply. Enter Adometry, a relatively young cross-channel ad attribution firm that has recently raised $8 million in funding to combat these challenges. According to Adometry’s CEO, Paul Pellman, “the company’s technology can track offline conversions and tie those to online ad activities—helping brands figure out the impact and value of multiple media channels.” Similar firms have undoubtedly begun to follow suit and develop their own comprehensive analytics platforms to identify and quantify multi-channel performance drivers. However, as of date, Adometry appears to be ahead of the curve in this markedly immature industry (For more information, refer to the company website: http://www.adometry.com). That said, the influx of competition and R&D investment will likely speed the rate of innovation and fuel a more vigorous attribution measurement landscape in the coming years. Thereby, the everyday marketing toolbox will soon include fully-integrated attribution measurement technologies that provide realtime results and clarify the precise interplay and impact of disparate marketing investments.