Agencies: Data means nothing until we stop competing and start consolidating
Agencies often talks about this importance of data but Yahoo7 digital star Kristen Lê argues competitive pressures often prevent them from maximising its effectiveness.
When it comes to digital media, agencies are quick to point the finger at clients for a lack of uptake on innovative, data-led ideas.
The reality, however, is that we as an industry are lacking the focus and grit it takes to sell these ideas in to someone else.
The reason for this is twofold. Firstly, we’re too focused on beating our competitors to activate whatever is the latest and greatest media product in market.
wow.. a genuinely interesting opinion piece written by a youngster in our industry. who says gen y is all about “whats in it for me”
mumbrella can you please feature more articles from the yahoo digital stars (or indeed any young people with a point of view).
I’m sick of reading old farts opine on the state of the industry
The frenzied speed of the industry is how it is, and always has been. Media is a small part of any marketers remit, asking for ‘more time’, and ‘to slow down’ is unrealistic.
I agree that data is used poorly in the Australian market, but disagree that Powerpoint is where data goes to die. It’s up to those producing the data to translate it into meaningful insights to help solve a business problem – that responsibility lies with the agencies. Suggest that data analysts make the time to attend the client briefing, so they know the business problems to be solved, and start there.
Well said Kris!
Great article Kristen
Excellent article.
No, one of the core problems we have with marketing analytics today is that most it is done by firms that are affiliated with media companies. Why would someone purchase media analytics from the same company that sold you media? Wouldn’t there be a conflict of interest?
Some big problems I see with the use of data:
1) It’s an afterthought: you pull out the PowerPoint to spin a story to the client that the digital (web/edm/social) component was a worthwhile investment. You’re using data in the service of your own agenda.
2) All you do is show the client their numbers: “Your users are down 4% this month, but up 10% year on year – what’s that really mean? I dunno, all we do is count them.” There is neither the talent nor inclination to use data for deeper insight.
3) You’re only dealing with surface data: ad impressions, clicks, unique browsers, bounce rate, etc. You have no exposure to the client’s deeper data, or your client has no method for collecting and/or exposing it.
4) When we do get deeper data, we spend as much or more time wrangling it as analysing it. Automation and dashboards can help, but risk turning back into surface measurements: “what’s the number doing today?”
Engagement with data has to be a living process. It can’t just be the same old reporting processes ad nauseum.