Diageo, Scotts and more recognized for achievements in data and analytics
- Diageo was recognized for achievement in Data and Analytics Adoption in the 2018 Genius Awards, presented by the Association of National Advertisers and Neustar, whose results were shared with Marketing Dive. The beverage giant behind brands like Johnnie Walker, Smirnoff and Guinness gained deeper insights across 95% of its media spend with the development of a multi-touch attribution strategy. Fossil Group was awarded for Data and Analytics Growth for implementing a top-down approach for using analytics solutions combining traditional, modern and advanced methodologies, which helped the company double its wearables sales in 2017.
Nationwide and Scotts were tied for Data Analytics Storytelling, a category covering achievement in using data to tell enlightening, visually-driven stories. Nationwide developed a Retirement Readiness Report experience for consumers, which resulted in an 11% improvement in retirement readiness scores. Scotts Miracle-Gro used a predictive weather-modeling tool, called Helio, to offer weather-driven demand sales forecasts. The result was historic sales in May 2018 because the company was able to take orders in areas where competitors couldn't keep up with demand.
- Cisco Systems was recognized for Data Analytics Innovation thanks to an "Engagement Points" KPI measuring engagement between the company and its customers and partners on digital and physical domains. The company reported a 74% increase in customer engagement year-over-year and a 127% two-year compound annual growth rate in marketing-sourced bookings with the help of the tool.
As the industry becomes more data- and analytics-focused, the 2018 Genius Award winners present case studies of how brands across categories are leveraging technology to improve a variety of marketing functions, including tracking attribution, improving the customer experience and informing creative efforts. Examples like Fossil and Miracle-Gro show that a more data-driven approach can also be a powerful driver of sales.
The results of such efforts can be informative at a time when many marketers are struggling to translate their digital efforts into business successes. Eighty-two percent of marketers surveyed in Nielsen's CMO Report 2018 planned to increase their digital spend over the next year, but only 26% reported being confident in their ability to measure ROI. Marketers in Nielsen's report also cited a need for better technology to integrate consumer data and insights across channels.
The announcement of the Genius Award winners at the ANA Masters of Marketing conference follows a study released last week by the ANA, Neustar and Forrester revealing that companies that master measurement and analytics see a nearly 3 times improvement in business decision-making speed and time-to-market with new products. The study found that such strategies can result in 9% higher marketing ROI, improved marketing efficiency and new customer insights compared to companies just starting or developing their programs.
Forty-three percent of surveyed companies who had "master" analytics cultures reported performing better against metrics, such as conversions, engagement and growth. Among the "mastering" companies, roughly one-third spent 10% or more of their marketing budgets on measurement and analytics compared to 71% of starting companies.
Better analytics capabilities could additionally help marketers achieve higher levels of personalization, which consumers increasingly expect but brands often don't deliver on. About 40% of consumers report that marketing messages only sometimes feel personal, with most saying messages are rarely or never personal, according to Periscope By McKinsey research.
- ANA Genius Awards 2018 Results
- Marketing Dive Study: Companies with more mature analytics operations see 9% increase in marketing ROI
- Marketing Dive 82% of marketers plan to increase digital spend, but only 26% are confident in ROI