Marketing

Trapped in the Data-Sharing Dilemma

There are clear benefits for companies allowing website users to login with social media platforms such as Facebook, Twitter, Amazon, and Google. But the ease of user access that social logins make possible comes at a price: The platforms learn a great deal more about users’ buying and searching behavior via these agreements — information that could wind up helping the company’s competitors (including the platform itself) down the line.

Machine Learning in the Travel Industry: The Data-Driven Marketer’s Ticket to Success

Leading marketers in the travel sector are using machine learning not only to measurably improve business outcomes but to fundamentally redefine what those outcomes should be. Travel marketers who take advantage of the large volumes of data their organizations collect will continue to pull ahead of their rivals.

Deriving Value From Conversations About Your Brand

Companies often treat social media as the conversation that represents what consumers are saying about any given brand. But research shows that online and off-line conversations are different beasts. Even though they both drive sales, they need to be measured and managed separately.

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The Hidden Side Effects of Recommendation Systems

Recommendation engines influence the choices we make every day — what book to read next, which song to download, which person to date. But digital recommendations are also a source of unintended consequences. Research shows that recommendations do more than just reflect consumer preferences — they actually shape them. Given that perfect prediction is not possible, retailers and managers must be aware of the potential discord from unintended side effects of their recommendations.

Bill It, Kill It, or Keep It Free?

Many B2B companies seek to grow beyond traditional product lines by venturing into new services. Yet they often overlook the opportunity to capture sales from free services they provide. This article outlines the free-to-fee, or F2F, service transition. It shows how to inventory free services (categorizing them as profit drains, distributor delights, competitive weapons, or gold nuggets) and lays out a path for profitably generating revenues.

Creating Satisfying Customer Experiences With Machine Learning

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According to Northwestern Mutual’s chief marketing officer, marketing should be more than a support function — it should be a strategic growth driver. In this video, Aditi Javeri Gokhale describes how the company used KPIs to train machine learning algorithms to build an online experience that pairs customers with financial advisors. Its success rate: over 95%.

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How Should Companies Talk to Customers Online?

Digital customer service is becoming more widely adopted, but one place it falls short is in the language and phrases it uses. Many digital service platforms use words that alienate customers rather than engage them; selecting customer-centric language for chatbots and service platforms can make a significant difference in customer satisfaction.

Twitter Is Not the Echo Chamber We Think It Is

The popular perception of Twitter as a social media “echo chamber,” where people only receive and retweet opinions that match their own, does not reflect the data about users’ actual engagement. The average Twitter user propagates more mainstream content and follows a diverse group of users — and this has implications for social media marketing.

The Big Data Problem That Market Research Must Fix

  • Read Time: 9 min 

Insight into what customers really care about often is hampered by the quality of the information being collected. Big data can support smart market research, but only if researchers embrace psychometric best practices and the basics of understanding what it is they want to measure and how. That means asking the right questions, asking enough questions, understanding how to weigh questions, and taking into consideration how people felt about the brand to begin with.

Let Your Digital Strategy Emerge

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  • Read Time: 7 min 

What can digital technologies do to help an organization solve customer problems? And what solutions will customers find valuable? It’s only when leaders wrestle with these questions that a digital strategy can emerge. To get there, organizations need to create a portfolio of business experiments and engage with customers to gain insight into their problems and potential solutions. The intersection between what’s possible and what’s desired is where a business will succeed.

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Improving Strategic Execution With Machine Learning

Our 2018 Strategic Measurement research shows that companies using machine learning to optimize business processes and decision-making have distinct advantages over those that aren’t investing in ML. By using ML technology to make KPIs more predictive and prescriptive, these data-driven companies are redefining how to create and measure value.

How to Launch Products in Uncertain Markets

How should companies launch products in times of uncertainty? Should they “wait and see” until uncertainty resolves — or commit to a full-scale launch and ride it out? Conventional wisdom says being early to market is the right choice, but that is not always the case. Many companies can benefit from a mixed, “act and see” approach.

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