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You’ve Got Data? Well Don’t Start There!

Did the title about data make you curious? Great!

Of course, in today’s data-rich environment I’m not really suggesting that you actually ignore it! However, in working with clients around the world and in numerous industries, I have found that many are lost by the wealth of information that is available to them. In fact it seems to drown out their reasoning of what to do and they remain frozen in indecision. Is this your case? If so, then just follow the steps I detail below and you will soon be doubling, quadrupling, if not 10x the ROI of your data.

 

The Current Situation with Data

Data is everywhere and most organisations are drowning in it! Technology is being blamed for disrupting businesses, but most have simply not adapted to this new data-rich world.

I admit, a lot has changed. Consumers are adapting their behaviours to the trading of their personal information. Companies are changing business models as their value shifts from products to services, or even to the sale of the information they gather.

Some organisations are reinventing themselves to take advantage of these changes. Others are ignoring them – at their peril, since they are risking to become the next Kodak, Borders or Blockbusters. If you’re interested in reading more about the US Retail Apocalypse and the 23 big retailers closing stores then I highly recommend this post on Fox Business.

So what should you do, whether you are in manufacturing or retail? Well, I believe that you should start by renovating your business model to take advantage of the countless new opportunities open to you. And in my opinion, you had better do it sooner rather than later, because your competition almost certainly will!

 

The Opportunity

Yes you have data and information, but if you’re a regular reader of my blog, you will know that you have to turn these into knowledge and understanding, and then into actionable insights. And this can only be done by asking the right questions of your data and information.

If you are struggling to take needed action despite a wealth of information, then this is certainly where you should start making changes – fast!

A 2015 Capgemini and EMC study called “Big & Fast Data: The rise of Insight-Driven Business” showed that:

  • 56% of the 1,000 senior decision makers surveyed claim that their investment in big data over the next three years will exceed past investment in information management.
  • 65% admit they risk becoming irrelevant and uncompetitive if they do not leverage data. This is especially true given that non-traditional providers, like startups thriving on big data processing, are moving into their industries.
  • Although companies realize they desperately need to dig into data analytics to maintain their business position, 45% surveyed think their current internal IT development cycles are not sufficient for new analytics and don’t fulfill their business requirements.
  • Making matters worse, over half (52%) of those surveyed see the speed of their organization’s insight generation from data analytics as constrained by its existing IT infrastructure.

So what has happened in the past couple of years? Not a lot in terms of usage, but a lot in terms of data gathering; just check out the graph below from Kleiner Perkins for current and estimated growth of data volume.

 

Big data trends Kleiner Perkins 2017

Of course big data has been big news for years, thanks to its 5Vs (volume, velocity, variety, variability, value). These were the driving forces behind the need and finally the computing upgrades which made it possible to adopt a new way of analysing it all.

This article by Olivia Ryan sums up the “6 ways big data expansion can significantly damage our privacy.” These are the major points which the GDPR is hoping to address, and about time too in my opinion.

Today it’s the EU’s GDPR or General Data Protection Regulation, with its stricter rules coming into play later this year, which has everyone concerned. It is definitely worth checking out the details here if you are not sure what you need to change by when.

Interestingly, there is no equivalent federal law in the US (for now), but that doesn’t mean you can ignore it if your business is based there. Find out more in this excellent article on Forbes.

It’s true that companies do recognise all the threats detailed in the earlier mentioned study, and while startups flourish in every industry, the mastodons of commerce are slow to change, hence the need for GDPR. (see below for an alternative approach to individualised data utilisation)

 

An Alternative Approach

Data comes into its own when used for personalised engagements. However, there is an alternative or complementary approach that some organisations are now using. This is to address global issues such as resource management, water usage or pollution, which certain customers feel passionately about.

One example is Nestle whose relatively new CEO Mark Schneider is finally bringing some fresh air to the dark and dusty halls of their Vevey offices. However, cutting costs, selling less attractive business units (such as US candy to Ferrero) to upgrade their image will not bring sufficient change that consumers demand of large corporations today.

Compare this to the efforts Unilever’s CEO Paul Polman, who has made his organisation one to be admired by consumers and shareholders alike. As they say in their website

“We aim to use our scale and influence to help bring about transformational change in four key areas where we believe we can make the biggest difference:

  • Taking action on climate change and halting deforestation
  • Improving livelihoods and creating more opportunities for women
  • Improving health and well-being
  • Championing sustainable agriculture and food security.”
Bold words indeed! And they can only do it with the help of data and metrics to measure and follow their progress. Given these very different approaches to preparing for the future, I know which one I am betting on – and you? Let me know in the comments.
The appeal of this alternative approach is confirmed by the results of SalesForce’s recent research findings reported in the “State of the Connected Consumer.” To summarise their six conclusions:

  1. Information-Savvy Customers Now Control the Marketplace. 70% of consumers agree technology has made it easier than ever to take their business elsewhere.
  2. The Culture of Immediacy Drives Mobile-First Expectations. 64% of consumers expect companies to respond and interact with them in real time.
  3. Customers Still Value Human Connections in a Tech-Driven World. Two-thirds of consumers say they’re likely to switch brands if they’re treated like a number instead of an individual.
  4. New Data-Sharing Attitudes Spark Next Era of Marketing Personalization. 63% of millennial consumers agree they’re
    willing to share data with companies that send personalized offers and discounts.
  5. Smarter Use of Customer Information Expands Opportunities for Sales.More than three-quarters of consumers say it’s absolutely critical or very important to work with a salesperson who is focused on achieving customer needs instead of making a quick sale.
  6. Fast, Personal Service Is Directly Linked to Customer Loyalty. 71% of consumers say that customer service provided on any day at any time has an influence on loyalty, and almost as many (69%) say the same about personalized customer care. 

Looking at these findings, it gives me hope for a more human approach to customer connections by manufacturers and retailers alike. I believe that those which fail to take this informed customer into account is unlikely to survive the next decade.

 

Making Data Analysis the Beginning and Not the End

I mentioned above and also dedicated a whole post to the topic of technology being an enabler not a disruptor of businesses. (Check out “Technology is the Enabler not the Disruptor (So Stop Using it as an Excuse)” for more on this) Many organisations think that their problems with data will end when they get the latest technology platform installed or start using the newest system for analysing it. Nothing could be further from the truth. Technology enables improved analysis perhaps, but as previously mentioned, data is only as good as the questions you ask of it. That’s why data is the beginning of your business solution, not the end.

Data is only as good as the questions you ask of it. #BigData #Analysis #Information #CEX Click To Tweet

In addition, in “The Impact Of Changing Consumer Expectations On Manufacturers” Steve Smith spells out the situation very clearly for manufacturers:

“With new consumer expectations being set by companies that disrupted their respective markets — Uber, Amazon, Netflix — the previously accepted levels of customer service are no longer good enough.”

What these three companies demonstrate perfectly is that technology has merely enabled the consumer to get more of what they want, whether that is travel, retail or entertainment. Although these are three very different industries, they have attracted a growing number of customers because what they offer is a trustworthy service. No, rather they offer few surprises, and when there is disillusion, they sort it out quickly, and usually far above and beyond the customers’ expectations. Surprise and delight are the table stakes of today’s world of customer service.

Surprise and delight are the table stakes of today's world of customer service. #CEX #CRM #CustomerSatisfaction Click To Tweet

In Conclusion

Coming back to the title of this post, as you can see there is a lot to do before analysing all the data you have. And probably it’s a lot more than you even know about at present, at least from my experience!

You can’t go wrong if you start with the customer and identify what you need to know and understand in order to go beyond their expectations.

You can't go wrong if you start with the customer & identify what you need to know & understand. #CEX #CRM #Customer Click To Tweet

Make a list of all the things you want to know and then see if you have the information to answer them. In many cases you do, it just hasn’t been analysed in a way that makes the solution obvious. That’s when you should review and eventually update your platform and systems.

Doing this any earlier will be like buying a fancy new hammer to crack a nut! What you need to understand is the best way to crack the nut; often times the hammer is fine for cracking if you use it correctly.

If you’re drowning in data and thirsting for insights then we should talk. Book a free advisory session and I’ll give you some ideas on how to crack your own nut!

 

 

 

Top 10 Marketing Infographics to Smash 2018 (Inspiration for the Visual World)

One of C3Centricity’s annual traditions is to publish a post which shares the best marketing infographics of the previous twelve months.

Here is this year’s crop, with ideas on how you can get inspired to take action in your own marketing.

Interestingly, many marketing infographics that have been shared in the past year are actually about content marketing. It’s as if “true/traditional” marketing doesn’t exist any more. That in itself says a lot about the focus of marketers these days! Are they right to do so? I don’t think so, but let me know your opinion.

In the same way that new media channels were separated from traditional channels for a while. it seems that content marketing has also been separated from traditional marketing. This is wrong from my perspective, because content marketing has always existed, whether through communications on pack, in advertising or more recently on websites.

Anyway, here is this year’s crop of the best marketing infographics around. If yours is not among them then please add a link to your preference in the comments below.

 

The Most Shared Marketing Infographics of 2017

Most shared marketing infographics

It makes sense that I start this post by taking a look at the most shared marketing infographics of last year. What is great about this post is that it is itself an infographic! It explains what makes a shareabale infographic.

Take a look at the six most shared posts and draw inspiration from their ideas, to create your own.

(Source: Infographic Journal)

(Click image to see full infographic)

 

 

Top Marketing Design Trends 

SSTK Core TrendsIFGC Static english  eWith the rapid expansion in offers online, websites can no longer satisfy their audience by just adding content. They need to regularly update their design too, to stay fresh and appealing to changing preferences. (C3Centricity does this annually; le me know what you think when we relaunch our new design in a couple of weeks)

This infographic summarises beautifully the trends for the coming year. Check your own site against these images and if you find yours lacking in any way then an update should be planned – sooner rather than later!

(Source: Shutterstock) 

(Click image to see full infographic)

 

Don't be satisfied with updated content, your website needs regular design updating too! #design #website #marketing #infographic Click To Tweet

 

The Meaning of Colours by Culture

Meaning of colour marketing infographicIf you work globally then you already know that while we are all human beings, we are not all the same. This is particularly true in terms of our associations with colour.

These differences come from a wide variety of sources; from tradition, to history and even from the impact of the most popular brands.

So it is important that if you are responsible for a brand globally, or sometimes even regionally, that you understand the nuances in interpretation of your brand’s pack and communication by the colours used.

This infographic, while it may seem complex at first view, will become your best friend once you understand how to look at it.

(Source: Information is Beautiful)

(Click image to see full infographic)

 

Content Marketing Uses

Content marketing infographic matrix

This is a small but useful graphic – I don’t think it is “officially” an infographic but I’ve used the term widely as you have seen – that explains the differing uses of content in marketing.

Even if the original was first published more than five years ago – an eternity these days! – I like this updated version because it reminds us that we should have an objective before developing content, which I know most of us still don’t! (I’m guilty as charged too!)

What I find particularly useful about this graphic is that it splits content between emotional and rational, as well as between whether the objective is to build awareness or attract purchase.

All of us should review this and then evaluate our own content, to ensure that we are including all four quadrants. Are you?

(Source: Smart Insights) 

(Click image to see full infographic)

Want successful content? Split yours between emotional and rational, as well as between whether the objective is to build awareness or attract purchase. Click To Tweet

 

The Do’s and Don’ts of Email Marketing

Email marketing infographicMarketers can’t easily build relationships with their customers without using email or text messages.

This infographic provides clear guidance on what to do and what not to do. I bet you find some things you are doing which could be improved.

Leave me a comment below if your email marketing is faultless!

(Source: Campaign Monitor)

(Click image to see full infographic)

 

 

The Rise of Video Marketing

The Rise of Video Marketing eIt was said that 2017 would be the year of the video. They quickly appeared as GIFs on Twitter, and “Live” sessions, rather than just photos, became the norm for sharing on many other social media channels. Everyone seems to be doing it, including brands, so if you aren’t (yet?) you’re already behind the curve!

This infographic explains clearly and simply everything you need to know about getting started in video marketing. Follow these steps and your brand will soon by in the spotlight.

In addition to this video-maker roadmap, I suggest you also check out “Top 10 Video Marketing Trends And Statistics Roundup 2017” for all the latest statistics.

(Source: Business2Community)

(Click image to see full infographic)

How to get your brand in the spotlight by using #video effectively. #brand #marketing Click To Tweet

 

Augmented Reality

what is AR eIf you’ve been ignoring AR in your marketing until now then you’ll have to change in 2018.

Still a bit confused as to what it is and how it can help your marketing? Then this infographic will explain what you need to know.

It includes everything from the history of augmented reality, to the market size and how it will impact all areas of our lives. Everything a marketer needs to understand in order to make best use of it is here.

(Source: Web Designer Depot)

(Click image to see full infographic)

 

 

The Inbound Marketing Process

inbound marketing processupdated eWhile marketers are well skilled in outbound marketing, the new world of inbound marketing can be frustrating to say the least. You do the best you can and then sit and wait for things to happen – or not!

If you’ve ever been in this situation, then this inbound marketing infographic will be your saviour!

It lays out eactly what you have to do over the next three months to get started or to improve your current situation. You’re welcome!

(Source: Inbound.com)

(Click image to see full infographic)

 

Frustrated that you build it and no-one comes? This #inbound #marketing #infographic is for you! Click To Tweet

 

The 7-Steps to Insight

Final HD CatSight Process eI couldn’t list the best marketing infographics without including one from C3Centricity!

This infographic details the seven steps to insight development. What is important to notice in this process, is that it includes three steps which most organisations forget to do, which dooms them to failure!

Can you identify them? Free eBook for anyone who correctly identifies them and leaves a comment below.

Adopting this process practically guarantees that you develop an insight every time! Try it out and you’ll see.

(Source: C3Centricity.com)

(Click image to see full infographic)

If you’d like to learn more about the training we offer to support your insight development, then check out our 1-Day Catalyst Training and download the brochure. All our courses are personalised to your precise needs, so they will integrate seamlessly into your current processes. This is the only way you will bring about lasting change.

 

 

Social Media and eCommerce

januray  infographic social commerce eFew businesses can survive today without an eCommerce site or social media presence. This is why I decided to end this list with a marketing infographic that covers both.

In this very thorough analysis from 16BestNet, the infographic covers everything you need to know from the history of commerce by channel, to demographics, product and brand popularity and even some sales statistics.

It is one of the most comprehensive analyses covered in a marketing infographic that I have found and definitely worth checking out. Of course, you should then take actions based upon what you learn from it – and there will certainly be a lot of “aha” moments as you scroll down it.

(Source: 16BestNet )

(Click on image for full infographic)

 

 

So there you have them; my choice of the ten most inspiring and useful marketing infographics of the past twelve months. Is your favourite amongst them? If not add a link to it in the comments below.

If you struggle to know what content, communications or engagement your customers might like and how to integrate infographics into your own marketing efforts, then let’s connect for a free, no-obligations call. Contact me here and I’ll share some of the success stories of my local, regional and global clients.

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