Analyzing multivariate campaigns is not a simple process. The manipulation of multiple variables and measuring the effectiveness of the change requires a sample size sufficient to measure the number of variables or conditions applied to the campaign. It also requires the marketer to group the responses into meaningful categories that can be used to determine which alternative(s) are most effective.
Multivariate testing is often used in the design of websites. Together, the content, font, graphics, tone and layout of a webpage represent the brand and branding for a company. As a group the communicate the brand to visitors. A/B testing is not efficient when so many variables need to be tracked and the response is not “yes”, or “no”. Responses to webpage designs consider emotion, effectiveness of communication, tome of the information, casual verses professional, and on and on. Ultimately, the winning design is chosen because it delivers the best experience for the visitor and generates the best response. A/B Testing is performed on the winning design to incrementally improve its performance.
Multivariate testing can also be applied to email content, sales promotions, company collateral, surveys and much more. There are many forms of analysis with some more applicable than others depending upon the information collected, concerns to be addressed and database size. Wikipedia lists 17 different statistical models and while I like and trust statistics and quantifiable information, 17 is a lot.
Consider instead evaluating which techniques will be most effective based upon the available data and familiarity with specific analysis methods. It is very important to vary the type of analysis as there is no one silver bullet. Either one or more form of analysis such as multiple regression, discriminant, conjoint, factor or cluster analysis may be appropriate. Experience and skill are needed to make the best selection(s).
As this is clearly a subject too broad for a blog, might I suggest “Multivariate Data Analysis for Dummies” by Brad Swarbrick. It’s a good read. And for software to assist, I suggest evaluating the top rated Multivariate analysis products on Capterra.
In summary, don’t think of multivariate and A/B testing as opposites or that one should be favored over the other. They are complementary with each having a role to play on a successful marketing team. Each contributes to Marketing Excellence.
Integrated Marketing Communications (IMC)
Integrated Marketing Communications ensures that all forms of communications and messages are carefully linked together. Done well it integrates digital and direct marketing, social media, advertising, PR, events and sales promotions. IMC ensures messaging consistency is presented to prospects and customers by all elements of the organization. However, IMC should not be confused with end-to-end or comprehensive marketing strategy and planning.
A comprehensive marketing plan will include the same activities as an IMC plan. But following questions may be unanswered:
A comprehensive marketing plan has each of the above activities in place with conscientious personnel faithfully executing their assigned tasks each day. An integrated marketing plan has that plus the processes in place to ensure consistency and proper direction of each activity.
There are five levels or areas of integration which should be mastered if IMC is to be achieved:
Benefits of Integrated Marketing Communications
IMC can create competitive advantage, boost sales and profits and orchestrates communications to leads and prospects by moving them through the various stages of the buying process. It has more impact than a disjointed myriad of messages and has a better chance of cutting through the hundreds of commercial messages circulating through the target audience’s media.
Finally, IMC saves money and time as it eliminates conflict and duplication of graphics, digital imagery and collateral.
Raven Guru Marketing has real experience in implementing IMC and is a strong proponent. However, it is essential that organizations perform the upfront work of segmentation and positioning to be develop a successful IMC strategy.
]]>Step Four – Branding and Brand Identity
Every business has a unique vision, strategy and business environment. These collectively define the expression of your brand and clarifies what you stand for so you can communicate your product to your audience in a way that resonates. Your brand identity is one of the most valuable assets of your business and needs to be crafted to authentically represent the business. Investing in building your brand and brand identity will help deliver your vision by differentiating you from the competition, developing a following and improving your bottom line. Your brand identity is about who you are – the product, solution or service, the quality and support you deliver to customers, and your value versus that of competitors.
Profitable companies have one thing in common. They have established themselves as a leader in their market by building a strong brand. A brand isn’t just what people can physically see in advertising and a logo but also consists of people’s perception of a company’s reputation and its customer service. For example: If the computer you sell is the fastest on the market, then that is a feature or fact about the product. Branding leverages that speed by creating messaging around the amount of work that can be performed or the amount of time saved per day by using a faster computer. Branding can highlight the aesthetics or intangibles of having the fastest computer such as making the owner feel better about his equipment and his company. Developing each of these into strong representations for your company will in turn provide you a successful brand identity in your industry.
While there are many attributes to consider when building a brand and brand identity, it is critical to develop a consistent presence, to be liked and to be trusted. Successful branding results in:
Branding enables your company to get referrals. Word of mouth referrals are the direct result of your company delivering a memorable experience with your customer.
Raven Guru will help build your vision into a recognizable brand that will leave a lasting impression for years to come.
]]>Step Two – Product
I got my start in marketing by way of Product Management and Product Marketing. It is important to understand that there is a difference between Product Management and Product Marketing but both functions work in close collaboration from product inception to delivery. So, I find Product Management and Marketing (PMM) needs to be closely intertwined with Engineering and the Marketing team to successfully deliver the specified product to the marketplace that meets the brand promise. PMM must be able to excel at strategy development and tactical execution. My top priority roles for a successful PMM team are:
PMM personnel need to understand the product, the marketplace and competitors. They also need to communicate the value of the product to assist marketing communications in developing collateral, videos, webinars, etc. Concluding with an overall product life cycle plan covering the initial launch through its evolution towards maturity. At which point, the product is either materially updated, replaced or discontinued.
Whether the product is a tangible item such as a phone, wearable tech, computer, or software or a less tangible item such as a service, the product benefits, features and cost need to be defined before marketing can communicate to the target markets. Without this understanding of the product and a clear set of value propositions then marketing will have difficulty marketing the product to perspective buyers. Surveys show that identifying and eliminating weak product ideas before product delivery result in companies having a greater likelihood of successful new products. Any misalignment between the product and the value expected by the buyer, will result in a poor experience, fewer referrals, potentially bad reviews, and ultimately disastrous results.
Raven Guru Marketing believes the pursuit of Marketing Excellence integrates the skills of PMM and the other marketing disciplines for a successful product rollout.]]>