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Data Decisioning

Bridge the gap between insight and action.

We help you unlock the value of your data by fostering data literacy, streamlining decision-making processes, and building a data-driven culture.

Data Decisioning

Data decisioning solves the following challenges:

    • Data Scarcity: Building Compliant Data Acquisition strategies

      Many businesses face challenges around data collection. It may come on the basis of legacy business models that have not yet embraced first-party data strategy or are risk-averse due to overwhelming regulation. Often businesses collect a lot of data but the value of it is not derived. Regardless of whether you are data-poor or insight-poor, Monks can help you overcome your challenges.

    • Data Sprawl: Creating Wide data is an important milestone for every organization

      Wide data effectively addresses data sprawl by creating a cohesive framework that integrates disparate datasets across an organization. By breaking down silos and establishing clear governance, wide data ensures that all departments share a consistent understanding of key metrics and definitions. This harmonization reduces fragmentation, allowing for seamless access to information from various sources—such as marketing automation tools, CRM systems, and product analytics—ultimately leading to improved collaboration and decision-making. With a unified view of data, organizations can mitigate the chaos of scattered information while enhancing its accessibility and actionability for all stakeholders.

    • Data Ignorance: The Urgency of "Aha!": Minimizing Time to Insight is crucial in the age of Wide Data

      In modern organizations, "Aha!" moments are crucial for driving innovation and competitive advantage. These insights, derived from data analysis, empower teams to make informed decisions quickly and adapt to changing market conditions. By minimizing the time to insight, businesses can capitalize on emerging trends and enhance operational efficiency while improving customer experiences. In an era where data is abundant but actionable insights are scarce, fostering a culture that prioritizes these transformative moments is essential for staying ahead of competitors and maximizing growth potential. Embracing the urgency of Aha! moments enables organizations to turn raw data into strategic opportunities that propel success in today's fast-paced environment.

    • Deferred Value: Overcoming Inertia: Post-Exposure Initiatives for Action and Outcome

      Post-exposure actions are essential for organizations to fully realize the value of their data-related initiatives. After achieving "Aha!" moments, it's crucial to implement structured strategies that translate insights into actionable outcomes. By developing clear action plans, fostering cross-functional collaboration, and ensuring effective communication of data insights, businesses can overcome inertia and combat deferred value. Additionally, prioritizing resource allocation and embracing experimentation allows organizations to mitigate risks while driving innovation. Ultimately, these post-exposure initiatives not only enhance decision-making but also maximize ROI from data investments—transforming raw insights into sustainable growth opportunities in today's competitive landscape.

Monk Thoughts In today's fast-paced business world, organizations are swimming in data. Data decisioning is the key to transforming this data into a powerful driver of growth, innovation, and competitive advantage. It is more than just collecting and processing data; it's about making data work hard to drive dollar value. This means data being practical, accessible, and actionable for everyone in the organization

Results

  • Increase revenue by 18%
  • Cost savings of 29%
  • Increase market share 2x
  • Product development time reduced by 50%
  • According to BCG “The Fast Track to Digital Marketing Maturity and McKinsey & Company, "How data and analytics can improve project performance".

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Stop just admiring your data – start acting on it.

Well orchestrated data and mature digital operations are the key drivers of revenue uplift and market advantage. Let Data Decisioning empower your organization to make faster, smarter decisions and achieve measurable results.

Want to talk Data Decisioning? Get in touch.

IMO: How Reitmans Used Cloud Computing to Pivot With Changing Times

IMO: How Reitmans Used Cloud Computing to Pivot With Changing Times

Consumer Insights & Activation Consumer Insights & Activation, Data, Data maturity, Digital transformation, eCommerce Platforms 2 min read
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Written by
Monks

A collage of speakers headshots from the IMO webinar with Reitmans

When customer behavior changes, so does the technology used to connect with them. When shifting consumer habits met an increasingly fragmented data and marketing ecosystem, fashion retailer Reitmans Canada Limited began to notice blind spots appearing in the customer journey. But with over 400 brick-and-mortar locations, maintaining a relationship with its customers meant building a single source of truth throughout the entire organization.

In the latest episode of IMO, Brianna Mersey, Media.Monks Associate Director of Data, sat down with Marc Laurent-Atthalin, VP Data & Digital Media at Reitmans, and Zamira Khamidova, Director of Data North America at Media.Monks, to discuss what it took to shift the traditional retail business into a modern data stack capable of enabling marketing use cases. Throughout the conversation, they shared insight into how to set your data foundation up for success, the importance of aligning stakeholders across the business, and the need for a “test and learn” mindset. If you missed the episode, we’ve got you covered—watch it in full below.

Reitmans was able to adopt such advanced analytic methods because the team had already established a strong foundation of data, making it easy to implement models that were more reactive to customer behavior and transaction histories. Marc and Zamira offered advice on how to select which data sources to start with (opt for rich, actionable data sets that give you lots to work with) and how to ensure that data is clean and reliable.

Marc also shared the importance of aligning with internal stakeholders to gain buy-in and chart the path forward. “It’s important to build a clear vision and strategy initially and communicate it properly, and then use data to build your case,” Marc said. By tying data objectives with business outcomes, his team was able to prioritize use cases and deliver results quickly, then test and iterate from there. For example, building a 360-degree view of the customer provided insights to drive conversion, fulfilling the key business need to propel growth.

When it comes to initiatives like these, treating your partner as an extension of your team is key. “Collaboration is hugely important,” Zamira said. “When it comes to data, there are lots of questions on the context—especially with historical data, so it was important for us to have two-way communication and hear back on any questions we had.” This level of regular communication also helps with further collaboration as the engagement evolves. 

So, where is Reitmans headed next? You’ll have to watch above to find out—including the brand’s plans around Web3, which is set to transform the brand-customer relationship even further. And if you’re eager for more insights from Media.Monks subject matter experts and our partners, mark your calendar for the next episode of IMO later this month.

Learn how together Reitman’s and Media.Monks shifted the traditional retail business into a modern data stack capable of enabling marketing use cases. Retail data analytics consumer data data-driven marketing Data eCommerce Platforms Consumer Insights & Activation Data maturity Digital transformation

Your Guide to a Better 2023 Chinese New Year Brief

Your Guide to a Better 2023 Chinese New Year Brief

Brand Brand, Culture, End-to-End Agency Partner, Impactful Brand Activations, Seasonal marketing, Social Campaigns 1 min read
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Written by
Monks

Shanghai.Monks logo

Chinese New Year is the great marketing equalizer, revealing which brands truly understand their audiences versus those who simply see the world through their own myopic view. Consider the overabundance of product shots that dominate feeds and attention, versus realistic, people-focused moments that stir emotions. While the festival isn't upon us just yet, now is the time to plan—and it all starts with the brief from brands themselves.

Shanghai.Monks have developed an easy-to-use guide to identify key insights that can serve as a bedrock for more thoughtful, intentional CNY briefs. Inside, you’ll find the most salient consumer mindset shifts that will shape CNY sentiments in 2023.

In this guide you will learn:

  • How to create an inspiring Chinese New Year brief
  • How to translate holiday traditions into new contexts
  • Why leading with empathy is key
Monk Thoughts To help your Chinese New Year campaigns rise above the noise, our report spotlights 3 major mindset shifts shaping the ways audiences will perceive CNY content.
Nina Kong headshot
While Chinese New Year isn't upon us just yet, now is the time to plan—and it all starts with the brief from brands themselves. brand strategy creative brief project brief consumer insights consumer data Brand End-to-End Agency Partner Social Campaigns Impactful Brand Activations Seasonal marketing Culture

5 Reasons to Launch a Retail Media Network Now

5 Reasons to Launch a Retail Media Network Now

Commerce Commerce, Media, Retail media 3 min read
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Written by
Monks

Yellow data points connecting on a black background

Retailers have the data to know what sells, and advertisers need this data to refine their brand strategy. A win-win comes from collaboration between the two: retail media networks (RMN). Retailers have the opportunity to turn their first-party data and ad spaces into new revenue streams. However, many aren’t taking their chances and, as a result, miss out on a massive new source of revenue.

Retail media networks are when retailers establish an advertising platform on their own digital platforms—kind of like in-store advertising, but in digital format. This creates a new revenue stream for retailers by monetizing their first-party data through the launch of ad products. Though all of this is conceptually clear—every retailer wants to increase its revenues—the market is still reluctant to implement this solution. Retail companies either rely on selling their products and services rather than tapping into ad monetization, or they lack the right infrastructure and skills to build and run retail media networks. For most retailers, the latter is the issue. Some stick to what they know, whereas others outsource the work.

Monk Thoughts Only a few players have a clear focus on creating their RMN units, even though there’s so much potential. That’s why we have developed this solution within Media.Monks and implemented it for clients in the retail space.
Vinicius Galera headshot

The Business.Monks—Media.Monks’ business consulting category—focus on uniting strategy with experimentation, value creation with performance, and consulting methodologies with agency crafting. Given the high potential, it’s time to start building your retail media network, here’s why.

5 reasons why retailers should set up their retail media network.

RMN provides a new and very profitable revenue stream. “We’re talking about a new revenue stream with a margin between 60-90%, so it’s huge,” says Cacau Lima, Business Consulting Manager for the Business.Monks in São Paulo. Just look at Amazon Ads—in 2021, it reached over $31b in revenue, which is nearly 5% of Amazon’s total revenue. Additionally, RMN has a huge impact on the bottom line, with Onsite Campaigns yielding up to 90% of EBITDA.  

Advertisers want clear-cut solutions. Digital marketing is all about measuring the impact in sales. Though brands can measure clicks and impressions, the bottom line impact has always been estimated. With RMN, however, advertisers have the ability to measure bottom line conversion and optimize their media spend based on the increase in sales.

This solution is growing really fast. Today, $1 in every $6 is spent on media networks, and in about two years, it is projected to represent 20% of all digital media spend, according to Insider Intelligence. Currently, 82% of CPGs have already invested in Amazon Ads, while only 39% has invested in the second biggest retailer. This shows us that there are huge opportunities to increase investments in RMN. 

It’s all about the data. Since third-party cookies have crumbled, RMN is the sweet treat that both retailers and advertisers need. Through ad monetization with RMN, retailers can gain new insights into their customers’ behavior and interests, elevate their first-party data strategy, and engage audiences by giving relevant recommendations that suit their needs. As for advertisers, they can access the retailer’s precious first-party data and gather important information. 

We’re in the era of Everywhere Commerce. As CX and brand experiences become ever bigger and better, it’s crucial for advertisers to have control over how to engage with their consumers in every digital touchpoint. RMN ultimately creates the space and opportunities for advertisers to do so. On top of that, this business solution is beneficial to retailers, advertisers and consumers alike. “Between brand awareness and conversion, there’s typically a messy middle. RMN creates a one-stop shop, allowing customers to find a brand, get to know its history, and then convert in one go,” says Galera. 

Translating skills into solutions.

“In order to solve complex problems, we need to be able to speak different languages—that of media, social, data, and so on. So, we’ve built a team that can speak all these languages by mixing experts from different professional fields, who together give shape to an unbelievable diversity of mindset and innovative thinking,” says Helena Curado, VP Business Consulting LATAM, Media.Monks. 

To secure future success in this space, businesses—both retailers and brands—need to adapt to the ever-changing landscapes of commerce and consumer behavior, and it’s best to do it sooner than later. Taking the leap can be scary, but just take a look at the numbers—they show it will be worth it.

Retailers have the opportunity to turn their first-party data and ad spaces into new revenue streams. Find out how. Retail future of retail consumer data first-party data data-driven marketing Media Commerce Retail media

Lessons from the Experts on Data-Driven Marketing at Scale

Lessons from the Experts on Data-Driven Marketing at Scale

5 min read
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Monks

Drive impact across the customer journey.

Data can be overwhelming for marketers—there are so many KPIs to consider, touchpoints to measure, and you’ve probably collected more data than you know what to do with. Realizing the data challenges that clients are facing (and the urgency to let go of old habits as new restrictions loom on the horizon), we partnered with Brand Innovators to host an afternoon-long event focused on data-driven marketing at scale.

The discussion featured leadership from both regional and world-leading brands, who each discussed their unique relationships with data. From building a more holistic understanding of the customer journey to enabling more impactful personalization and experiences and more, each speaker across four segments revealed their success stories in activating data. You can watch the full event here, or find key insights from speakers below.

Data-Driven Marketing Should Enhance the Customer Experience

It’s easy to feel lost with acclimating to recent (or upcoming) changes in privacy and data collection. As marketers navigate a privacy landscape transformed by new features in iOS 14, the cookie apocalypse and more, a good rule of thumb is to focus your data-driven marketing strategy on enhancing the customer experience.

“The goal is to take as much data as you can that makes your experience better and helps you truly understand the customer,” says Erin Levzow, Vice President of Marketing Technology at Del Taco Restaurants. She opened her fireside chat by drawing a distinction between what kinds of experiences make personalization more meaningful in the minds of consumers versus strategies like relentless retargeting that simply creep people out. “When it’s done well, that’s great—but when a brand knows I just bought an end table and offers me another end table, it doesn’t feel very personalized.”

Screenshot of an interview between Erin Levzow and Jaime Frey.

Erin Levzow spoke with Jaime Frey, Vice President of Account Services at Metric Theory, which joined Media.Monks in 2021.

By zeroing in on value for the customer instead, brands set themselves up to capture the first-party data that is so crucial to building relationships with consumers today. “One thing we've benefitted from around the strength of our loyalty program is that so many of our customers are willing to uniquely identify themselves across channels to take advantage of our benefits,” says Holly Waisanen-Hatipoglu, Vice President of Loyalty Performance Management at Marriott International. “That's made it easier for us to at a minimum have some kind of customer ID that goes across multiple platforms.”

A customer-centric focus can also help unpack which metrics hold value to your brand and how to interpret them. Levzow detailed how for a quick-service restaurant like Del Taco, a lot of time spent on the website isn’t the good signal it may mean for other businesses. “Customers are looking for information fast—what on my website do I want them to spend time doing?” she says. “They’re looking for things like nearby locations, so if they’re spending a lot of time on the website, then I should be concerned. We absolutely look at numbers differently.”

Take a Holistic Approach to Measuring Across the Customer Journey

A recurring topic of conversation throughout the day was the role that data plays in reaching audiences where they’re at, then using those insights to accurately pinpoint where you should invest your spend. Chris Marino, Global Head of Performance Marketing & Media at Bloomberg Media, drew on his experience of driving consumer subscriptions—a process that entails reaching audiences offsite, whether through social, search, OTT media and more.

“I’m very passionate about making the right levels of investment in upper and mid-funnel marketing initiatives, knowing that that’s where the opportunity and scale really exists to drive consideration—then ultimately using that scale, content and insights to bring someone down the funnel and drive a really efficient conversion,” says Marino. Subscriptions to Bloomberg Media grew by 34% in the first half of the year, reaching more than 325,000.

Advocating for building a more holistic understanding of the customer journey, Marino cautioned against taking a last-touchpoint approach to measurement. When it comes to assessing media spend, for example, your Google Analytics reporting may give a lot of credit to the role your website plays in driving conversions. But basing decisions on that information alone loses sight of the influences that consumers have engaged with on the path to get there.

Screenshot of the Brand Innovators event, featuring an interview between Brittany Blanchard and Chris Marino.

Chris Marino shared his insights in conversation with Brittany Blanchard, Vice President of Account Services at Metric Theory.

“If it takes them five or more touchpoints to become a paid subscriber, if we were to only think about things on a last-touch basis, we might limit investments that bring customers through the funnel,” Marino says. So, how do you get out of that last-touch mindset? “Stop thinking about channel attribution and what we as an individual have contributed and start thinking about how we as marketers all come together to create the most optimal customer experience,” he says.

Align Data and Content Creation for Marketing at Scale

Of course, data plays an important role in identifying and understanding new user behaviors. Canva, a platform that makes it easy to design graphics, presentations, documents and more, saw a large uptick in adoption from educators last year as learning migrated online. Noticing this trend, the Canva team designed templates to help teachers quickly and easily design their own worksheets.

While it’s clear data can signal the need for new product features, that same user data generated in the platform can also inform marketing content to further fuel growth. "Marketing is on the front lines of testing and learning about customers,” says Sunil Subhedar, Global Head of Growth at Canva.

He spoke on the importance of having an AI-based recommendation engine built into digital products, noting that the very same technology can power marketing performance. When users begin a new project on Canva, for example, they’re met with popular templates to get started. Canva depicts these same popular templates in marketing materials, which show prospective users what others are building through the platform’s ease of use.

While this approach is effective, many brands will rely on a skilled partner to execute at scale. “To scale the amount of content would require an army of people,” says Subhedar. “So there is an opportunity to partner with an agency to build this complementary service and fuel global creative using a template brand toolkit and a way of disseminating that across different languages and markets.” It’s a challenge that we enjoy, weaving data insights and production together to power marketing at speed and scale for audiences all over the world.

There’s lots of ways you can use data to power marketing and performance. Whether it’s better understanding segments of your audiences and their needs, gaining a 360-degree view of the customer decision journey or integrating artificial intelligence into the creative process, data-driven marketing at scale doesn’t have to be the scary prospect that it may seem. In fact, heeding the advice shared during the Brand Innovators event is an excellent way of preparing yourself ahead of time for new policies and shifting consumer attitudes toward privacy—and that’s an insight you can count on.

Marketing leaders share insights on impacting the customer journey with data-driven marketing at scale. Marketing leaders share insights on impacting the customer journey with data-driven marketing at scale. data-driven marketing personalizing content at scale customer data consumer data

Enhance Creative by Turning Data into Insights

Enhance Creative by Turning Data into Insights

4 min read
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Written by
Monks

Mejora la Creatividad Convirtiendo Datos en Conocimiento

Today’s CMOs have a lot on their plate: their role is increasingly responsible for overall business growth, managing brand communications, customer experience and in some cases the adoption of new technologies. Each of these responsibilities touch upon the different ways that consumers interact with a brand, making it essential for CMOs—and their teams—to manage a wide-lens view of the consumer journey. But in order to successfully integrate business objectives with data and customer experience, they’ll need to establish marketing strategies in which both work hand-in-hand to support one another.

By achieving this through constant performance measurement and optimization of content, organizations empower themselves to adopt a more agile process of marketing, which enables them to rapidly experiment and optimize campaign content and media spend through engagement. This culture of experimentation—with results to back it up—is key to achieving the always-on stream of content that today’s consumer expects, offering several relevant, personalized permutations of a message rather than the “big idea” campaign that was so popular in the past.

Close the Loop on End-to-End Marketing

Effective marketing today isn’t born just from an initial set of figures, but in fact results in new data that can be used to further optimize that content. This strengthens the creative so that it remains relevant to consumers along the digital journey. Whether an initial set of metrics lives up to expectations or not, data-confident organizations that continually measure performance may use those insights to increase content effectiveness, save in costs over the long-term and maintain trust in their creative partners.

Think about what a campaign that uses data poorly looks like. We’ve all found ourselves haunted by a product we’ve viewed (or even purchased) in our travels across the internet—an experience that can come off as annoying or even downright creepy. That this situation is all too common demonstrates how brands often miss key opportunities for effective retargeting or adapting their message to consumers’ changing priorities or intents. Those who continually optimize content through an agile process rapidly gain and apply new insights to adapt their message to the consumer’s interests or place in the sales funnel, resulting in more relevant and effective targeting.

Monk Thoughts Many brands may rely on automated optimization, but then they miss out on understanding what their audiences are thinking.

We took this end-to-end approach in a recent awareness campaign for Gladskin, the Dutch skincare brand, and their award-winning acne treatment. The processes described below enabled the brand to five-times lower CPM (cost per 1,000 impressions) and higher-than-forecasted reach. To achieve this, we measured what content brought audiences past initial engagement, then applied those insights to continually change the positioning, messaging and creative for greater results.

Optimizing Content for Increased Relevance

As with any campaign, this one began with an initial set of research on a hypothesized audience. Through preliminary engagements from consumers, we were able to quickly zero in on key insights that informed the next phase of production and user targeting. For example, we noticed that Instagram Story content focusing on models’ faces performed especially well in the awareness stage; this content achieved a 37% higher CTR than story content that focused on the product’s effect on the skin.

This aligned well with what you would expect from a platform like Instagram, as the face-focused content was akin to your standard beauty deliverable. But we found that the opposite was true in the consideration phase: Instagram Story content that performed better at this stage fixated on the skin and science behind the product.

Similarly, content that drove more users to convert focused on the research behind the product’s award-winning formula and customer testimonials, depending on the format used. The former was most effective with carousels that let users dive deeper into the product benefits in detail, while the latter performed best in single-image link ads.

Which type of message performs best per platform or format isn’t set in stone; it’s different per campaign, driving home the importance of closely measuring performance across the course of any campaign. But what both winning formats in the consideration and purchase phases had in common was that they provided consumers with justification to buy after their interest had initially been piqued, a key insight for subsequent retargeting efforts.

Screen Shot 2019-07-31 at 3.23.38 PM

Stitched together from a selection of pre-existing assets, we applied performance metrics to identify the most effective designs per segment and channel.

One can imagine how sticking to a single type of content throughout the consumer journey is comparatively ineffective in pushing consumers through the funnel; think back on that example of a product listing stalking a customer who happened upon it once. By highlighting new insights through frequent A/B testing, we could rapidly remix transformable assets into more and more attractive deliverables—and even support new creative formats, like Instant Experiences on Facebook.

Boost ROI with Optimized Spend

Cracking the code to the most thumb-stopping, relevant messages to consumers is one thing, but it doesn’t do anyone good when those messages fall on deaf ears. In addition to optimizing content, agile marketing processes let you plug data in to deeply target new groups (or continue to retarget engaged ones) for continued success.

For Gladskin, we worked with Brainlabs (an award-winning digital marketing agency) on a new approach to organizing target interests. Rather than sort them by theme—in this case, things like “teenage skincare” or “acne treatment”—we identified how well each individual interest performed. From there, we divided the top-performing ones from the bottom.

Weekly reporting enabled us to continually replace the lowest-performing interests with new ones. Over time, this process will result in ever-higher engagement rates and reach into new, increasingly relevant audiences over the course of the campaign. Tied with the process of optimizing insights-driven content as detailed above, this end-to-end approach is truly reactive to audience engagements and intents.

As measurement becomes increasingly essential for CMOs to improve customer experience, increase communication effectiveness and drive overall business goals, brands must embrace agile processes that allow for the continuous optimization of campaigns. This repeated experimentation through closed-loop, end-to-end systems provides brands with the insights they need to achieve specific business outcomes for long-term success.

Measuring campaign performance not only helps brands make creative decisions. It also grants them a clearer look at what different segments think at different stage of the customer journey. Enhance Creative by Turning Data into Insights Measuring performance to attain a clear, unblemished view of the consumer.
programmatic media buy performance marketing campaign performance assets at scale creative technology consumer data first-party data social media marketing channel marketing

How a Unified Data Strategy Solves the CMO-CIO Paradox

How a Unified Data Strategy Solves the CMO-CIO Paradox

3 min read
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Written by
Monks

Brands face several challenges when it comes to using data effectively: organizing it in a way to ensure that it’s usable, extracting actionable insights that optimize creative, and envisioning how to translate abstract data into tangible value. That’s why we recently released Unlocking Data & Silos to Enhance Creative Potential, a guide touching upon each of these issues and more, opening with a foreword that explores one of the most urgent challenges defined by Forrester that CMOs face today: solving the CMO-CIO paradox at a time when both roles’ strategic alignment is so crucial to organizational success. You can read the foreword below, or grab the ebook in full right here.

 

 

The promise of big data was always to give organizations the insights they required to take their relationship with consumers to the next level. While some have achieved this, others have struggled to digitally transform and transition into an environment in which they can organize and activate the mountains of data that they’re sitting on.

This might make it sound like big data is a big problem for some, but that’s a defeatist way of looking at things; rather, the challenge offers an opportunity for organizations to break down silos and work together more effectively, particularly when it comes to the relationship between CMOs, CIOs and their teams. CMOs find themselves tasked with driving organizational growth through their ownership of the brand-customer experience, for example, and doing so requires joining together multiple streams of data into a comprehensive, single view of the customer—which means a data architecture must be in place to define the data and KPIs necessary to measure results and infer more about consumers.

Monk Thoughts Only 16% of B2C decision makers say their roles function together as strategic partners.

Of course, this presents an excellent opportunity for CIOs to tie their technology strategy to clear business goals, elevating their role into a more strategic one. The problem? In most organizations, the CMO and CIO aren’t closely aligned. In fact, Forrester Research reports that only 16% of B2C decision makers say that their roles function together as strategic partners. 35%, meanwhile, say that IT merely manages one-off projects that are prioritized by the needs of the company.

One way for CMOs to kickstart a closer relationship with their CIO is to build a unified data strategy and break down silos in the process. Historically, both have had differing business perspectives—sometimes so misaligned that marketing teams would turn to external point solutions rather than rely on IT for handling data. Such practices have only widened the divide even further because data extracted this way is often framed for a specific purpose and incompatible with other systems used within the organization—diminishing CMOs’ ability to forecast into the future and truly lead in the digital transformation process.

Monk Thoughts CIOs working closely with CMOs report a 1.3-time likelihood of substantial growth.

This presents the ultimate irony: CMOs find themselves with greater responsibility to drive growth and serve the brand strategically, yet often find marketing projects deprioritized. Strengthening their relationship with IT is key in establishing the tools they need to deliver on this responsibility, but first they must increase their data literacy and learn to better align marketing KPIs to clear business outcomes that move the needle.

With a greater understanding of data strategy and how to support it with a cross-organizational data architecture, CMOs can achieve the buy-in they need from IT and the brand as a whole—and take back control at a time when extracting consumer insights at a quickened pace has become so critical. According to the same Forrester report noted above, CIOs who have worked closely with their CMOs report a 1.3-time likelihood of substantial growth year over year. Now that’s a data point to get excited by. Through the lens of attaining a better understanding of your consumers and enhancing the power of creative, this book sets out to show how you, too, can break down silos and elevate your role into a strategic driver of growth.

There are many more benefits to strengthening your data strategy.

Organizations are stronger when CMOs and CIOs work together strategically. Both can leverage data to align their goals and achieve substantial growth. How a Unified Data Strategy Solves the CMO-CIO Paradox A data strategy that strengthens the CMO and CIO relationship for shared success.
data data marketing data organization data optimization creative optimization assets at scale creative production CMO-CIO paradox CMO-CIO dilemma creative agencies asset optimization marketing optimization consumer data consumer insights insight-driven marketing

Linking Empathy and Engineering at Advertising Week New York

Linking Empathy and Engineering at Advertising Week New York

5 min read
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Monks

Linking Empathy and Engineering at Advertising Week New York

This week, New York welcomed not only foreign leaders and dignitaries at the United Nations headquarters—the city also embraced some of the best and brightest in the world of advertising, marketing and technology. Yes, Advertising Week New York—one of six Advertising Week events held around the world—came to offer thought leadership, workshops and more with 1,216 speakers and over 290 different events.

There was much to ponder and celebrate throughout the week. At the Clio Awards, eight awards were distributed among three projects that we contributed to: the Uncensored Playlist, Mind the Gap and the geolocation-based revamp of the “Runaway Train” music video. We also made placement on Adweek’s 100 Fastest Growing Agencies list, and our VP of Marketing Kate Richling was shortlisted for Advertising Week’s Future is Female platform.

But that’s enough patting ourselves on the back. What were the brands up to in all the fray? Our recap explores three big topics from one of the biggest weeks in advertising—namely what’s driving the in-housing trend, how brands are working creatively with data and the new collaborative partnerships that are helping brands respond to both those opportunities.

Getting Closer to Consumers through In-Housing

One thing that’s become undoubtedly clear across the course of the week is that brands are seeking ways to take back control. For many, this has manifest in a trend to take their creative and media capabilities in-house. Often attributed to goals like lowering cost or time to market, there are in fact many reasons why brands feel they can do creative better on their own terms and turf, as explored at the Brand Innovators summit, which coincided with Advertising Week.

A major goal behind the in-housing trend is a need to get closer to the consumer. As traditional brands grow with widening product lines and more channels to communicate through, they risk losing coherence or consistency within the brand-consumer relationship.

94_Panel_AdWeek_092419

The In-Housing panel at Brand Innovators. (Photo courtesy Kat Papera/Brand Innovators)

At a panel on in-housing, Spencer Gordon of Anheuser-Busch discussed how going in-house ensured that a dedicated team in the brand would always be thinking about creative. This enabled them to pursue consumers with greater relevance and brand understanding. But Gordon noted that the initiative achieved big results by first starting small; with four employees focused on providing social assets solely for the Michelob Ultra product, the team has since scaled to 63 members that deliver for all of AB InBev’s brands.

In the same panel, Ryan Riess, Director of Social Strategy and Content at the Hershey Company, similarly discussed how supporting such a large variety of brands (15 of them!) drove them to become more consumer-centric. Hershey felt they could do creative better on their own—particularly in creating platform-specific content that would better connect with their customers. That’s a very specific way that brands can better drive relevance by maintaining an always-on relationship with their consumers, requiring brands to have a clear idea not only of themselves, but their consumers as well.

Purposeful Use of Data for Empathy and Impact

How brands can gain that understanding of the consumer was another major topic of discussion throughout the week. But businesses have come up with interesting ways to accomplish this; a notable example is Target’s internal media company Roundel. In the Advertising Week panel “Climbing Over Walls: Real People Data in an Automated World,” Roundel’s VP Dave Peterson noted: “The data is extremely important, but it’s as much on the human side as it is on the data. We call it the IQ side for data and the EQ for the human side of things.”

This purposeful interplay between both the technical and emotional sides of data provides Roundel with learnings they can use to strengthen the relationship between the retailer, their customers and the CPG partners whose products line the shelves. “Going back to our enterprise view at Target about putting our guests at the center of everything we do, our goal really is to enhance the shopping experience,” Peterson said. “Media works best when it’s in everyone’s benefit.”

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MediaMonks Founder and COO Wesley ter Haar gave a keynote address at the Brand Innovators summit. (Photo courtesy Kat Papera/Brand Innovators)

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Focused on leading tech trends, the presentation noted the use of machine learning to produce realistic, photo-editing trickery. (Photo courtesy Kat Papera/Brand Innovators)

And that’s a point that resonates well with MediaMonks founder Wesley ter Haar, who gave a keynote address at the Brand Innovators event on Tuesday afternoon. Exploring the challenge between what he calls “personalized pleasure versus personalized panic”—that delicate balance between consumers’ desire for relevance and concern for privacy—he honed in on the need for empathy to become a driving force in everything you do. “We can never stop prioritizing empathy,” he said. “Empathy and engineering must work hand-in-hand in the future.”

Closing the Creative and Data Divide

While Roundel is an interesting example of bridging together the intelligent and emotional quotients in data, they’re not alone: several brands noted the need for marketing and IT to come together to deliver unforgettable customer experiences that build brand love. On the panel “Rethinking TV: Driving Growth, Relationships and Experience Through Data,” Sir Martin Sorrell joined GM’s Global CMO Deborah Wahl, where the two examined how brands must look beyond the typical TVC approach for more scalable, personal and relevant creative.

Wahl gave her brand’s perspective on how impact and effectiveness are table stakes today, and how she works closely with data to achieve it. “We have a chief data officer at GM. We spend a lot of time together, really understanding: ‘What are you learning, what are the insights, how are we going after it?’” she said. “That helps you form better creative briefs so you get a big idea, and then really make sure we can execute that across different channels.”

Monk Thoughts With traditional work, there’s a conservatism that you can’t marry data with being creative.
black and white photo of Wesley ter Haar

It sounds like GM has a good rhythm going, but for many brands, closing that IT and creative gap can feel like a struggle. Showing teamwork in action, the S4 family—Sir Martin, ter Haar and Emily Del Greco (President of the Americas, MightyHive)—came together the following day to join Joana Coles (Founder and CCO, Boudica) in a panel discussion about the S4 Capital model and its place within the future of advertising. Coles set the scene for discussion: if you’re not a holding company, she asked, “What the hell are you then?”

The trio’s responses became a multi-faceted examination of collaboration and partnership. Sir Martin drew a line between how S4 operates versus holding companies that impose constraints around the businesses they contain. Instead, he suggested, S4 took inspiration from tech companies who are disruptive by nature. Ter Haar added: “With traditional work, there’s a conservatism that you can’t marry data with being creative.” It’s precisely that challenge that brands are grappling with now, driving that need for control examined above.

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Wesley ter Haar at the Brand Innovators Summit. (Photo courtesy Kat Papera/Brand Innovators)

Del Greco noted how aligning data and creative so closely together enables brands to take more risks with confidence. “MediaMonks is about taking the risk, and MightyHive comes quickly with feedback [backed by data],” she said. As iteration and agility have become key to success in today’s always-on environment, this ability to experiment and take learnings will become crucial for future-focused brands.

As Advertising Week draws to a close, we’re energized by the creative wins that brands have have been able to share. Looking at the next year into the future, it will be interesting to see how the landscape further evolves—and how new partnerships will enable brands to achieve a more customer-led focus by closing the gap between data and creative.

A few challenges and opportunities dominated 2019’s Advertising Week New York: empathetic data, closer consumer relationships and a desire for brands to take back control. Linking Empathy and Engineering at Advertising Week New York We dive into some of the biggest questions (and answers) that dominated the week.
advertising week advertising week new york awnewyork mediamonks s4 capital sir martin sorrell wesley ter haar mightyhive brand purpose data consumer data data creativity creativity iha in house agencies

Adobe Summit 2019 Recap: Customer Obsession is a Sure Bet

Adobe Summit 2019 Recap: Customer Obsession is a Sure Bet

4 min read
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Monks

Adobe Summit 2019 Recap: Customer Obsession is a Sure Bet

If there’s ever a place that teaches you how decision-making requires careful planning and data, it might as well be Vegas—no one wants to press their luck with a blind bet. This week, marketers and leadership from brands both big and small descended upon the city for Adobe Summit 2019, a three-day conference dedicated to providing best-in-class customer experiences by leveraging consumer data.

The summit kicked off with a slew of new features announced for the Adobe Experience Cloud that allow brands to better understand their customers and make decisions backed by user data. In Adobe Analytics Cloud, for example, organizations will now receive real-time customer data—both known and anonymous—to activate profiles across channels throughout the customer journey (including offline). Unveiling the integration of its Magento and Marketo acquisitions, another major theme touted at the conference was a focus on “business to everyone” (B2E) marketing, a trend in which personalization and customer experience will be critical to success.

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Not one to pass up a good show, MediaMonks attended the conference in style.

Ask anyone at the conference what the prevailing, over-arching theme of the sessions has been and they’ll likely say that it’s customer obsession. The focus on customer experience has been so strong as of late that Adobe’s Senior & Strategic Editor for Enterprise Thought Leadership calls it “Digital Transformation 2.0,” and key leadership from Fortune 500 shared how they use data to cultivate strong relationships with their customers (find out what some of them had to say below). The message is clear: with front-end customer experience as a key differentiator, organizations of all sizes must use data smartly and responsibly to maintain relevancy with consumers.

Brands Must Rethink How They Engage with Customers

The brands that lead in customer experience set their sights beyond just product; instead, they seek to provide services that enhance users’ relationships with the brand or its products. When Best Buy faced intense competition with Amazon, for example, the electronics retailer shifted its focus. “We are not in the business of selling products or doing transactions with you,” Best Buy CEO Hubert Joly told the conference audience. “Our purpose is to enrich lives with the help of technology.”

Best Buy now offers several services to help customers along the user journey both in and out of brick-and-mortar stores, but perhaps most interesting is its Tech Advisors service, which provides free, in-home consultations to prospective customers. In a visit, Best Buy’s tech experts hear out customers’ needs and provide advice, whether it be product recommendations or even entire home media setup plans. There’s no commitment to purchase, providing real value to customers without pressure to buy.

Monk Thoughts Our purpose is to enrich lives with the help of technology.

This focus doesn’t just help build a relationship with customers; it also anticipates how emerging tech will further prompt brands to seek out new opportunities informed by data. Internet of Things devices, for example, are growing in popularity—and may rapidly proliferate after mass adoption of 5G connections. As the digital ecosystems in consumers’ homes become more complex, so will customers’ questions about them. Such a service will certainly prove useful for helping homeowners get connected and understand how the technology available can improve their lives; likewise, brands should continually seek out the potential of emerging tech to provide new, personalized experiences that build equity and help connect to consumer need.

Provide Value by Using Data Responsibly

Providing this level of personalized service digitally requires a sophisticated understanding of user preferences on an individual level—and that requires smart use of data. Unfortunately, a big challenge that brands face in producing insights-driven content is that their data is often siloed, or there’s simply too much of it to organize or draw conclusions from. “Overcoming organizational and data silos is key to putting customers at the center of your digital business and delivering a leading experience,” said Adobe CEO Shantanu Narayen at the summit. By breaking down internal barriers and pulling together stakeholders across an organization, a more holistic view of customers’ engagement with a brand across the customer journey emerges.

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Microsoft CEO Satya Nadella (left) and Adobe CEO Shantanu Narayen (right) in conversation

Another key takeaway from the conference is that the use of data must come from a place of empathy and transparency. While explaining his vision for innovation, Microsoft CEO Satya Nadella posed an important question for brand leaders: “What is the real source of inspiration, the necessary conditions to get your strategy and products? One is a sense of purpose and the other is culture.”

Taking those words to heart, businesses seeking to retain and unlock user data must do so with a sense of purpose and a desire to improve lives. “People want to be heard, not overheard,” said MediaMonks co-founder Wesley ter Haar. There’s a lot of consumer unease around collection of data, “which stems from approaching data without empathy,” says ter Haar. “If organizations implemented solutions informed by the empathetic use of data, they’d be far more successful and not creep people out.”

The sky’s the limit with insights-driven content.

Here’s what that level of transparency looks like: when we worked with creative agency GSD&M to redesign the US Air Force website, the platform simply asked readers their gender, education/professional level and goals. The page informs users that their experience with the site is be custom-built from this information, explaining the up-front use and value of the data. The website is powered by Adobe Creative Cloud and dynamically surfaces up content based on readers’ activity, helping them envision what to expect from a military career and how it can help them achieve their professional goals. The result is a website that provides a highly personalized experience populated with relevant content—without asking readers to blindly hand over sensitive or personal data.

It all boils down to trust: “While personalization cannot happen without data and intelligence,” Narayen told his audience, “it should not happen without trust and transparency.” As brands seek to build deeper relationships with their consumers, brands must not only leverage data smarter, but also more responsibly. Used in this way, organizations have the tools in place they need to connect with consumers through value-based, personalized and insight-driven content.

Adobe Summit 2019 made one thing clear: the brands that will win are those who cultivate a culture of customer obsession supported by smart, responsible use of user data. Adobe Summit 2019 Recap: Customer Obsession is a Sure Bet Smarter and more responsible use of consumer data is key for greater relevancy and deeper consumer relationships.
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