A colleague and I had a very interesting discussion today over lunch.  I was arguing for the importance of industry in guiding the type of business questions you ask and hence the type of analyses you perform.  He believes that industry or vertical does not matter. 

My professional experience tells me otherwise.  Currently two of my clients have very different challenges.  One is a retailer trying to drive a repeat visit among its customer base.   Given the volume of customers they have and the average basket size, increasing the number of repeat visits can greatly impact revenue.  The other client is a software maker that sells to large manufacturers.  Identifying the right customer who would be interested in their product is key.  They have a much higher price point and much longer buying cycle than the retailer.  For them, understanding lead generation and lead conversion is vital in order to make their sales process more efficient.

However, there was on thing we could agree upon.  It all comes down to giving the right person the right message at the right time.

I recently received a mailing from the deCordova Sculpture Park and Museum, formerly known as the DeCordova Museum and Sculpture Park. 

I was puzzled by the name change.  In this case, why would you essentially just reorder the words in the name?  Yes, the sculpture park is beautiful and unique in the metro Boston area.  It is well worth a visit I might add.  However, the museum is excellent as well.  There was a fascinating exhibition called Drawn to Detail which I saw last fall. 

Perhaps, the ICA in Boston is cornering the contemporary art museum “market”, with the recent Shephard Fairey show and before that an Anish Kapoor exhibition.   It also has received a lot of attention for its new building and new location on the waterfront in Boston.  The deCordova’s name change might be a bid to distinguish itself from the ICA.  If that is the case, I am not convinced that re-branding is the answer.  But if you are going to re-brand, at least be consistent. 

The website uses the new name at the top on the right…

The top of the deCordova home page

 and then uses the old name under the History and Mission title.

Bottom of deCordova home page

Social media is a hot topic this year and it is likely to remain a hot topic in 2009.  I even found myself talking about it over dinner last night.  That is what happens when two marketers get together for dinner and a movie.  Somehow we end up talking shop.

So you may yawn when I say that I have suggested to a client that she develop an internal blog.  However, it can help her achieve her goals by educating users about an internal resource, disseminating information about enhancements to the system, and reducing calls to the internal help desk by building a community of users that learn from each other.  Believe it or not, there are companies that do not have blogs yet.  I can understand their hesitation.  Blogs result in a loss of control as the blog may move in unintended or undesirable directions.  Further, it can inspire resistance from managers.  There is also the additional work involved as it requires that staff monitor the site and address questions or criticisms at a minimum.    They will probably need to write posts.  Blogs are a lot of work.  Ron Shevlin in his blog states, “a helluva lot of time and effort” went into creating his posts.  (In the interest of full disclosure, I had the pleasure of working with Ron a few years ago.)

To be successful, the blog must focus on what users care about;  it must be about their needs rather than the needs of the company to have credibility and gain acceptance.  If it does so, it will develop a devoted audience.  Again to use Ron’s blog as an example, his post announcing the end of his blog has 55 comments as I write this.  This was after just writing his blog for two years.    I too will miss Ron’s thoughtful posts.

Last week I attended a Marketing Analytics conference  in Boston sponsored by iKnowtion.  At a time when companies are cutting expenses, including staff and marketing budgets, iKnowtion is investing in their future.  They are also engaging in a dialogue with the larger Marketing Analytics community through the conference and their blog.  (In the interest of full disclosure, I know several people at iKnowtion but have never worked there.)

The conference began with a talk by Tom Davenport, the Author of Competing on Analytics with Jeanne G. Harris.  He set the stage by providing examples of how companies recognize the importance of analytics but reminded us that marketing is still a combination of art and science.  As the emphasis shifts more towards the science of marketing, we need to recognize that the “art” is still relevant.  He further challenged us to move beyond reporting to provide more value and insight.

Next was a panel on driving business value featuring speakers from GM, CVS Pharmacy, and ConstantContact.  Each speaker provided a brief case study of how analytics has helped their business.  In one case, analytics changed the focus of the business.  In another, it led to the rebalancing of product marketing.  Finally, the rigors of “test, measure, and learn” enabled one company to optimize media effectiveness across channels.

After lunch there was a lively digital panel discussion around social media, the future of web-enabled communities and the challenges of measuring the impact of companies’ efforts in this space.  Given the evolving nature of social media, it is no surprise that there were divergent opinions.  I, for one, appreciated the candor and the healthy discussion that ensued.  To quote Jane Austen, “My idea of good company…is the company of clever, well-informed people, who have a great deal of conversation.”

The conference wrapped up with a return to the theme of competing on analytics.  This free flowing discussion touched upon a range of topics, including how to become a company that uses analytics for competitive advantage.  Interestingly, one of the panelists thought that finding good talent was the biggest challenge we face.  As a Marketing Analytics professional who hires and develops staff, I am in complete agreement.  There is stiff competition for the best analytic staff and I have found it difficult to find technical competence coupled with business acumen.  In fact, the discussion about finding, training and retaining analytic staff continued at the bar, after the conference formally ended.

iKnowtion has plans to hold the conference again next year and I encourage you to attend.