LEARNING FROM SHERLOCK HOLMES

Data-driven strategies are becoming the new normal, writes BPN MENA’s Yvette Madi

BPN’s Yvette Madi says data is the key clue.

I remember myself saying, “This website has so much traffic! My campaign will definitely deliver.” That, ladies and gentlemen, is a historical misconception.

I never guess. It is a capital mistake to theorise before one has data. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts. Sir Arthur Conan Doyle I t’s not about how much data you have, it’s about how you use it. The biggest fear is missing out on a very important consumer insight that could transform your overall thinking just because it was simply overlooked.

The last 10 years have seen a shift in digital planning and campaign launching. We now see data-driven planning and forecasts that better exercise our efforts for a more successful campaign. Having data skewed towards a specific theory helps us eliminate doubts about the success of the launch. I remember myself saying, “This website has so much traffic! My campaign will definitely deliver.” That, ladies and gentlemen, is a historical misconception. Data has become the key ingredient that can re- construct your entire presentation and format your rationale behind any recommendation you make today. Here are some of the realisations that can be inferred from data driven solutions:

INFORMING COMMUNICATION PLATFORMS

There are three imperatives behind this fact.

1. Research software is the go-to toolkit when formulating an overall communication platform. We start with competitive analysis, market dynamics, consumer consumption behaviour and habits – and there you go, your media plan is done. Well, to some extent that flow of planning stands on one foot. It needs be complemented by real-time data, which offers a more accurate story.

2. Data can reveal itself in the simplest of forms – through social media comments, shares, likes, emoticons and more.

3. Customers’ search behaviour is another indication of what they are looking for, whether in a product or in its benefits. This piece of data can help inform your communication platform and is very much a complementary instrument to market research tools.

DYNAMIC CREATIVE SOLUTIONS

Creative agencies must adapt to the new ways data is used. The traditional mindset should change.

1. Consumers are expressing themselves in real time. A closer look reveals how consumers are openly expressing their wants and needs through social media, and the brand should favour their thoughts to deliver its message.

2. Creative agencies should adapt their brand communication messages to the consumer’s preference in order to gain pace and ad traction before the competition gets a leg up on the insight race.

DATA-DRIVEN BUSINESS DECISIONS ARE COST-EFFECTIVE

Customers are looking for certain needs in real-time. Social media and search engines are constant reminders of that. Data consistently provides you with the best model to advertise the product’s features and benefits. It can often lead to the introduction or development of a product. But are brands swift enough to adapt? Sell- out data is the crucial tool for several entities in a company. It is useful for forecasting stock needs for the supply chain, pinpointing store weaknesses for the sales force or even monitoring category development for the marketing team. Now imagine how a media company can utilise this to help attract shoppers and drive them towards the purchase funnel.

Brands’ spending habits are not always a guarantee of their success. It’s all about knowing the who, when, where and how, and those don’t need deep pockets. Who is your target audience? At what point of the year should you execute your plan to them? Which locations should your hotspots be? And in what way can you present your campaign to that audience?

If you’re collecting, curating and analysing data in real-time, you’re already in the race to success. The impact that creative, media and research can contribute to the relay race using data analysis is what will bring about the shift from traditional thinking to a more innovative method of informing business decisions.

Remember that the limits to growth and innovation are exponential. Brands are evolving every day and are looking for the most efficient way to push forward. If the agency is not on track with this movement another is always lurking to capitalise on squandered opportunities. It’s no longer a foot race; you’ve now entered into a GT era.