Marketing

Is Deep Learning a Game Changer for Marketing Analytics?

The technology that underpins deep learning is becoming increasingly capable of analyzing big databases for patterns and insights. Before long, companies will be able to integrate a wide array of databases to discern what consumers want, and then leverage that information for market advantage. Deep learning might also be used to design products to meet consumers’ personal needs. Different types of organizations will try to harness the powers of deep learning in their own ways.

Digital Transformation Should Start With Customers

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Few organizations have the resources necessary to transform operations, business models, and customer experience all at the same time. They need to prioritize. Focusing on the transformation of the customer experience should be first. This is not because it’s necessarily the easiest, but because doing so is far more likely to keep a company viable than changing other aspects of business.

Front Office, Disrupted

The explosion of streaming media offers fans unlimited access to sports and entertainment. So how can teams entice their audience to the events happening here and now? Sports Innovation cofounder and CEO Angela Ruggiero says success starts with understanding just how fans’ behavior has changed with the advent of digital technology — meaning, executives of sports companies and media outlets alike must be willing to completely rethink how they approach their marketing.

An Executive Guide to the Fall 2019 Issue

This guide to the Fall 2019 issue of MIT Sloan Management Review summarize the issue’s key articles. The articles discuss finding better ways to collaborate; how to give customers what they’re looking for; the organized ecosystem of Dark Web cybercrime; and how algorithms can reduce bias.

Avoiding the Pitfalls of Customer Participation

Even though frontline employees are committed to advancing the objectives of the business, they sometimes see themselves as caught between representing the views of customers and what they think is reasonable. To preserve morale, businesses must keep employees engaged and confident that management has their backs.

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The Magic That Makes Customer Experiences Stick

Research has shown that memorable experiences can drive customer decisions as much as price and functionality. Yet there have been few meaningful improvements in customer experience over time. The missing ingredient? Emotion. Customers want their choices to align as much with their feelings and senses as with their values and ethics. The rational approaches taught at most business schools — offer more value for money, add features, make service more efficient — are not enough.

Why Personalization Matters for Consumer Privacy

Many different factors determine how consumers balance data privacy against a desire for personalized products and services — age, geography, and education among them. Companies can help their customers feel more comfortable with the data collection needed for personalized service by understanding customer values and maintaining transparency and good communication when it comes to data collection.

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Customer Centricity in the Digital Age

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As AI moves from the hype stage to implementation within organizations, retailers and marketers have new competitive opportunities with customer centricity. AI enables companies to apply data about their customers’ wants, needs, and preferences to customize their offerings, create personalized shopping experiences, and make the purchase process simpler and more convenient.

The False Choice Between Business and Ethics

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Should there be an imperative — moral or otherwise — to consider what’s fair when making a business transaction? Many say that it’s perfectly ethical to profit from an asymmetry of information, where, for instance, one party is paying much more for an item or service than others would say it’s worth. But other people are working to integrate the business case with the ethics case. They reject a narrow, transactional view of business in favor of a more relationship-oriented approach.

10 Principles of Modern Marketing

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Mastering technology is not the only criteria for success in the modern marketing era — the right people and processes must also be put in place to properly develop, manage, and nurture the benefits of emerging tools. To be successful in the digital era, marketers should adopt the best new modern practices as well as rethink and refine classic approaches.

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Five AI Solutions Transforming B2B Marketing

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B2B Marketing departments never have enough time, manpower, or money. AI solutions such as automated emails and predictive analytics can help companies push back against these constraints. AI marketing products can act as a force multiplier. Imagine filling your headquarters with thousands of brilliant marketers, expertly analyzing data and providing actionable insights that increase the productivity of your existing marketing team.

How Customer Obsession Creates Accountability for Change

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Organizational change is difficult. Some 70% of change efforts fail, and awareness hasn’t improved the odds of success. But there are exceptional companies, making strides with everything from digital transformation to employee engagement to diversity and inclusion. And they have one thing in common: They are customer-obsessed. When customers are truly at the center of your business, change proceeds from one organizing principle: What’s best for them?

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