ANALYTICS. Acxiom Marketing Maturity Model CheckPoint. Are you where you want to be? Or do you need to advance your analytics capabilities?

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1 ANALYTICS Analytics defined Analytics is the process of studying data to identify potential trends, evaluate decisions, or assess the performance of a tool, event, or scenario. The process should include multi-channel analysis including mobile, online and TV of both known and anonymous data. It is important to apply adequate analytic resources, in the form of data, personnel, process, technology or strategy, to achieve optimal marketing results. You have a standard process for identifying, You collect transactions, site visits and site behavior data. Your analysts are aligned to strategy with output planned, rather than dictated by ad hoc requests. Analytic reports and dashboards are integrated into business planning processes at the company level with analytic metrics and measurements. You look at the interplay of multiple sources of data and optimize the sources to improve the attainment of business objectives. Data from tag management, web analytics, ad servers and s is collected in a common platform and leveraged for insights and marketing use. You routinely evaluate your sources of data to determine data/datasets that contribute optimum business value. Predictive modeling and experimentation are introduced into decision processes to drive business performance improvement. Or do you need to advance your analytics capabilities? AC ANL 3/14

2 CONSUMER CONNECTIONS Consumer connections defined Successfully connecting with consumers should be the goal of all marketing initiatives. This objective is enhanced through personalized, coordinated engagements in both sales and service across all products, channels and interactions throughout the consumer life cycle. It s virtually impossible to optimize revenue with poor consumer connections. Consumer engagement exists across multiple channels, and brand messaging is consistent across channels. Purchase, payment and financing preference knowledge from consumer order history is available for marketing. You procure, create, store, deliver and evaluate the effectiveness of content in support of defined consumer segments for a single product in a single channel. You define and manage levels of frequency perceived to be tolerable; you define and measure common offers by segment for purchase/re-purchase. Engagements reflect consumer preferences, and behaviors across channels are understood and leveraged to increase buying likelihood and satisfaction with brand experience. Programmatic channel preferences and frequency controls are available to consumers, and consumers are contacted through preferred channels with measured response rates. Consumer interactions are designed and scheduled based on the consumer s stated preferences and transaction history, and those interactions are used to plan additional offers. You are able to recognize consumers across channels and target them with coordinated frequency and personalized offers, based on their segment and lifecycle stage. Or do you need improved consumer connections? AC CC 3/14

3 DATA QUALITY Data quality defined Superior data quality encompasses accuracy, completeness, freshness, relevance and accessibility. It validates, corrects and enhances the information captured from consumers across multiple touch points throughout the life cycle. At its best, it enables a single view of a customer or prospect, and can dramatically improve marketing efficiency. Gaps in data quality can prove costly in terms of misdirected marketing resources and damage to the brand. You have a standard process for identifying, Offline data is managed in a centralized data warehouse, and a business case exists for bringing offline data together with online data. Personally identifiable information (PII) is organized and managed via regular updates and the application of hygiene routines. Both offline and online data collection points exist to bring together all data sources, while maintaining privacy to enable refinement of relevant audience segments. You collect data to serve the company by looking at the interplay of multiple sources of data and optimizing those sources for data analytics, an ongoing cadence for analysis, reporting and feedback loops. Offline consumer information is collected, maintained over time and enhanced by the addition of other data sources. Data governance policies are defined across sources for datasets used in all consumer activities. Policies are reviewed for alignment with objectives, used in training activities and applied to optimization initiatives. The offline data warehouse is connected to an environment where PII can be made anonymous and PII is converted to anonymous forms. Or do you need to advance your data quality? AC DQ 3/14

4 ENGAGEMENT ACROSS CHANNELS Engagement across channels defined Today there are more channels for reaching consumers than ever before but unless they re used to the best advantage of your brand, marketing dollars are wasted and customer opportunities are missed. To successfully engage across multiple channels, a number of factors must be integrated, including consumer interaction preferences; channel relevancy; coordinated messages across products; and social influencers and networks. Consumer engagement exists across multiple channels, and brand messaging is consistent across channels. You allow consumers to opt in by channel and programs are tracked by channel and program. Your touch point analysis spans multiple channels. You define and manage levels of frequency perceived to be tolerable; you define and manage common offers by segment for purchase/re-purchase. Your company has a customer nurturing plan that proactively increases sales and market share. Consumer journey and next action are modified based on recent consumer activity, especially purchases, account opening, servicing interactions, cross-sell interactions and renewal. Programmatic channel preferences and frequency controls are available to consumers, and consumers are contacted through preferred channels with measured response rates. Campaigns are targeted and coordinated across multiple channels with feedback loops in place to improve results based on campaign performance. Or do you need better cross channel engagement? AC ENG 3/14

5 RISK MANAGEMENT Risk management defined Risk management entails the identification and evaluation of business dangers, and includes the assessment and prioritization of methods to minimize their impact. Failure to cope with risks can result in penalties, fines and weakening of the brand. In the modern marketplace, effective risk management of consumer data is a necessity, and includes issues of privacy, compliance and data governance. A security and privacy review process exists within the company, with defined templates, follow-up activity and tracking of deficiencies. Written security and privacy compliance standards exist within business units and include defined standards for reviews and tracking follow-up activity on deficiencies. Remedial actions are defined and gaps (current and future) require a written remediation plan. Privacy policies are communicated to consumers on a regular basis via a defined methodology. Privacy and compliance are managed as assets to balance business outcomes with relevant risk. The company consults with industry-level standards organizations and routinely collaborates to ensure the highest level of policy standards is implemented. Compliance guidelines are industry-based and re-evaluated routinely to ensure the most current applicability, with regular input to policy and thought leadership provided by industry privacy and compliance subject matter experts. Industry-based consumer privacy policies are re-evaluated routinely to ensure the most current applicability and issue resolution is reviewed for learning. Or do you need to improve risk management? AC RISK 3/14

6 SEGMENTATION Segmentation defined Segmentation involves dividing broad consumer markets into smaller identifiable subsets having similar needs and demographic characteristics. The process promotes a marketing mix that matches customer expectations within a targeted segment, generating increased acquisition, retention and lifetime value. Lack of proper segmentation leads to lost revenue, diminished acquisition and reduced lifetime value. A standard process exists for identifying, You augment online known consumer records with enhancement data such as demographic, lifestyle, life stage and other third-party data. Data is consolidated in an enterprise data warehouse, and standards are applied to govern the data quality and warehouse content. Clearly defined, prioritized target segments exist including company-gathered (transactional) data. You collect data to serve the company by looking at the interplay of multiple sources of data and optimizing the sources to improve the attainment of business objectives. You manufacture data to predict in-market opportunities. The company has set standards for establishing and managing segments with defined scenarios leveraged across channels and incorporating the use of third-party data. Both personally identifiable information (PII) and anonymous data are used in analytics and marketing. Or do you need to advance segmentation? AC SEG 3/14

7 SINGLE VIEW Single view defined A unified consumer perspective, or single view, is the ability to capture, organize and integrate consumer data across all touch points in order to facilitate recognition at any channel. Absent this single view, enterprises are forced to communicate in a disjointed manner, often alienating their targeted customers and prospects, squandering resources and impairing their most vital asset, their brand. Consumer information conforms to industry or company standards for security, privacy and usage, and a consistent structure enables recognition of the same consumer across multiple areas of the company. You have a standard process for identifying, You augment online known consumer records with enhancement data such as demographics, lifestyle, life stage and other third-party data. Both offline and online data collection points exist to bring together all data sources while maintaining privacy to enable creation/refinement of relevant and differentiated audience segments. Data is consolidated into a single repository at both an individual and household level which can be accessed across the company via a common process for extraction, transformation and loading of data. You enrich cookie-derived personas/segments with offline persona/segment insights. Programmatic channel preferences and frequency controls are available to consumers, and consumers are contacted through preferred channels. You collect in a common platform for marketing use data from tag management, other web analytics, ad servers and . This additive data conforms to published standards. Or do you need to improve your single view? AC SV 3/14

8 SUPPORT RESOURCES Support resources defined Support resources can provide critical input to marketing initiatives. For maximum effectiveness, however, they must possess organizational reach for reporting, as well as access to management information. Too often, support resources are tactically hired and deployed with limited reach and access, resulting in diminished return on the marketing investment. Analytics functions cross business units and product boundaries. Key performance indicators (KPIs) are defined to measure company performance, leveraging industry and market standards. KPIs also connect to associate performance measurement and compensation with consistency across reporting units. Report development owners and users discuss measurement needs as related to business goals when performance indicators are requested. Budget planning is based on clear corporate objectives with results history enabling the requested marketing budget to be objectively evaluated and approved. Standard cadence and analytic tasks are in place with regularly posted results. Feedback loops leverage post-campaign/post-process analytics to improve next actions. Performance metrics are developed based on a deep understanding of business goals and requirements as shared by executive and tactical business owners and maintained in an ongoing review process that includes representation from finance, marketing, sales, product and business analysts. Reports, scorecards and dashboards are managed for the benefit of the business users, and the list of authorized users given access across the company is centrally maintained and managed. Company-wide marketing resource processes are managed by centralized and shared corporate assets leveraged by all business functions. Or do you need to advance in the area of support resources? AC SUPP 3/14

9 TECHNOLOGY RESOURCES Technology resources defined Maintaining up-to-date, in-house technology resources can be expensive and time-consuming. For that reason, organizations often outsource. When these external technological resources are deployed with a holistic view of need and impact, the time and cost benefits can prove outstanding. But when they re procured tactically, or organized in silos, the results are often unsatisfying. A security and privacy review process exists within the company, with defined templates for reviews and tracking of follow-up activity on deficiencies. You have a standard process for identifying, The organization perceives information as necessary for improved business performance and makes governance a company practice with a single point of accountability. Standard technology platforms and tools are in place in major business units, with cost reductions managed via quantity purchases, and disaster recovery plans are in place. Your company has a formal dedicated privacy and compliance function with regularly scheduled company-wide reviews. Results are tracked for improvement over time. Your company has a practice to continually analyze data for value and make changes to data collection and retention practices according to results and findings. A company-wide standard exists for all technology and tool purchases with centralized management of technology, corporate oversight on prioritization of needs and a business continuity plan in place for critical business areas. Company-wide processes are used and managed by centralized and shared corporate assets leveraged by all business functions. Or do you need to advance capabilities around your technology resources? Find out more? AC TECH 3/14