A Winning Formula to Marketing Scientist

1. A Winning Formula to Marketing Scientist June 24, 2009

2. What is Marketing?

3. How to win? In a highly competitive market, the quality of business insight is critical to enable the organization to win

4. Why this topic? Vast majority of past presentations are very technical Or focused on the business applications This presentation focuses on the “soft” side of analytics

5. Why this topic? Statistical rigor is important Analytics is a centre of excellence (centralized or de-centralized) Equally important is how well we communicate and interact with business clients Need to demonstrate we add value

6. Objective of this presentation After the presentation, develop a better understanding to: Bridge the gap between analytics and business people/mindset Build trust and earn credibility with business clients Communicate effectively with business clients Create win-win by adding value to business using analytics

7. Mindset / cultural crash

8. Mindset crash exists between business and analytical people

9. How do business people think? It doesn’t have to be precise, directional read is enough Let’s do it at the back of the envelope Just tell me who should I target? Statistics … scary!

10. How do analytical people think? Can I draw a precise conclusion? Let’s test different modelling methodologies All numbers need to add up nicely, if not, they are wrong? Are they statistically significant?

11. How can we find the middle ground? ??? Let’s do it at the back of the envelope We need precision

12. Is Marketing only Science?

13. Marketing Science is both art and science

14. Business acumen, communication and relationship management are the bridge Advanced degree in Statistics MBA Revenue Forecasting & Planning Customer / Campaign / Sales Analytics Business Acumen Communication Relationship Management Segmentation / Modelling Corporate Strategy Marketing Planning Predictive / Econometric Modelling Data Warehousing SAS / BI Tools Strategic Planning CRM Strategy Development WIN-WIN 14

15. a n a i r e s u t s l d y e s a i n s i g h t s s The winning formula Engage your business clients to connect analytics and insights to ideas and results

16. a n a i r e s u t s l d y e s a i n s i g h t s s The winning formula: Engage Your Business Clients Understand the business Clarify and understand business objective Understand how they get measured success Communicate in a way people understand Connects Analytics and Insights to Ideas and Results Don’t just tell a number, tell a story! Don’t just tell a story, tell a successful story with good results! What  So what  Now what Translate business issues into modelling / analytical solutions

17. Business acumen is key to engage your business clients • Understanding the business is critical and fundamental • Market dynamic • Brand positioning • Competitive intelligence • Product / service offering • Customer behaviours / needs / wants

18. What is my ROI? Why are we losing customers? I need to identify and retain my best customers Where do I find high quality prospects? How will I reach my acquisition targets? Business acumen is key to engage your business clients Most of the time, they do not know what they want!!

19. Business acumen is key to engage your business clients • Know and articulate your end-state vision • Know your destination • Know and articulate your current state • Know where you are today • Know and communicate the roadmap to get from current state to end state vision • Identify the business requirements for your client!! • Identify risks and dependencies

20. Communication is key to engage your business clients Statisticians may seem strange, but we are perfectly

21. Use plain English to engage your business clients Statisticians may seem strange, but we are perfectly normal

22. Connects analytics and insights to ideas and results is key to earn trust Demonstrate results = earn trust and build credibility Not only get quick wins, get quick worthy wins Let’s review a B2B case study: Focus on the thought leadership Be analytical, be creative

23. B2B Case Study Challenge: Sales Account Executives are asking Marketing for ah-hoc leads for their territory to close individual short term sales gap Sales effectiveness of leads generated was never measured and was unknown Solution: Transform the ad-hoc lead-request business model to an end-to-end lead management & measurement business model Lead generation to lead qualification to lead closing in a measurable closed loop Results: 12% lift over control group

24. Qualified Sales Lead Program Feedback Loop Apply Marketing Science to Improve Targeting (e.g. Predictive Modelling) Product A Leads Product B Leads Pre-Sales Lead Qualification Field Sales Sales Desktop Product C Leads Inside Sales . . . . Marketing Product P Leads Lead Generation Phase Qualification Phase Closing Phase Marketing Sales

25. Summary – Top 10 10. Talk and write in plain English • Know what you need and guide your clients • Balance the art and science of analytics • Understand your client’s business (WIIIFM) • Articulate business benefits in a story • Get quick wins to establish the credibility and trust • Know your friends, know your enemies • 80/20 rules – don’t over-engineer things • Connect analytics and insights to ideas and results

26. Summary – Top 10 THINK LIKE A SCIENTIST, ACT LIKE A CONSULTANT

27. Contact Information Damien Mok Director, Marketing Sciences Wunderman 60 Bloor Street West, 8th Floor, Toronto, ON, M4W 3Z1 Direct: 647-259-7511 Email: damien.mok@ca.wunderman.com