For an observant marketer, it is critical to understand what metrics he/she wants to look at to measure the success of a campaign and the success of a brand. Monitoring new metrics makes sense due to the rise in e-commerce and social media. Some examples are vanity metrics(likes, shares, comments) and engagement metrics (page views, …
The relationship between Share of Voice and Market Share Read More »
Brand Image is what consumers have in their mind, it can be intentional or unintentional, although companies want consumers to feel what they think their brands is or stands for. Also, premium brands make customers feel confident by increasing self-esteem and social standing. Many luxury brands like Rolex, Ferrari have this principle where they want …
Decision making is very stressful for us, both for our professional or personal lives. We want to know if it is the right step and the long-term impacts. To choose between two alternatives that can alter our lives can be overwhelming. But what if something can tell us the probability of success or likelihood of …
The Importance of Critical Thinking in the World of Big Data Read More »
After careful consideration, analysis, and spending a reasonable amount of time and money on marketing research, we identify a substantial and actionable demographic segment. We have in our mind that this group of people needs our product and like a messiah, our product will make all their problems go away. After choosing proper design elements …
As a marketer, I have always been interested in facts, figures, and stats. It made me feel like I know something for sure without doubts, and I can act upon the information. But the process of coming to the result was new to me until I started running ad campaigns and tried to understand what …
Image Courtesy: https://www.optimizely.com/optimization-glossary/ab-testing/ What is A/B Testing As the name suggests, A/B testing is comparison-based testing. The experiment is performed by executing the product or campaign in two different options and then comparing them to derive inference and analyze the result. It is used most commonly for testing two variations to understand which one performs better …
After the emergence of Big Data as the new shiny thing for collecting data, we suddenly see businesses noting down every bit of information of a customer. It has kept on accumulating in hopes of a Minority Report kind of situation that we will predict the next step of the customers even before they think of it. …
Data Points and Data Insights: Adding Value to a Decision Making Process Read More »
With the tremendous success of big data for the mapping customer journey, there is a chance that marketing research is not getting enough attention. Big data focuses on past customer behavior, making companies build strategies based on the past rather than the future. This way, businesses may miss out on innovation. By looking at past trends, they …
Marketing Research and Big Data: Choose both to be the Market Leader Read More »
Customer Relationship Management or CRM manages information about your current and potential clients and all the interactions with your employees. It includes anything and everything the customer does with your business, like purchases, queries, complaints, appreciations, etc. The goal of a customer-centric company must be to know their customers better and have all their information …
Empowering Businesses with Customer Relationship Management Read More »
Marketing decisions are sometimes based on hunches, we might not have facts and figures to back our idea, but it just feels right. If that is the case, there is a way to go about it. You can conduct a marketing experiment rather than performing a marketing research project. Usually, marketing researches take more time to complete, requires a …
What Is A Marketing Experiment And How To Do It? Read More »
