eMetrics Marketing Optimization Summit

Last spring at ad:tech, The Marketing Consigliere had a limited amount of time to spend at the show so he opted to walk around and drill marketers and product managers at their exhibition booths rather than sit with the herd at the keynotes or breakout sessions.

With a huge floor to cover, whom did he choose to visit first? In his hotel room the night before, he pored over the program to read the thumbnails on each exhibitor and found it easy to select the companies to visit. He merely crossed out any company that claimed to be a “leading web analytics company.” That left him a shortlist of companies that perhaps truly, consciously tried to differentiate themselves and leave the “me toos” for any spare time he had.

eMetrics Marketing Optimization Summit LogoThe eMetrics Marketing Optimization Summit in Washington DC this week was a different thing; It’s a much, much smaller event with a more focused agenda. With thought leaders like Eric Peterson and Jim Sterne there, the conference space was buzzing with excitement. Much to his pleasure, there was a smaller list of exhibitors, and each of them were worth a visit.

Most of the vendors from his blog, “The Quantitative to Qualitative Spectrum of Marketing Data” were there: Coremetrics, WebTrends, Omniture, Tealeaf, OpinionLab, and Foresee Results.

He had some good talks with “Voice of Customer” (VOC) vendors; Kathy Heldman, CMO of OpinionLab and Eric Head, a Director at Foresee Results, were both able to give me updates on their products and services in this important growing market.

Andrew Eisner of Optimost did a good job explaining some of the advantages of his product, but in light of the Interwoven/Optimost deal, The Marketing Consigliere still thinks that the Omniture/Offermatica pairing offers a better solution for Net-Centric Marketers; Enterprise software + Full service testing = not as efficient or effective results.

He was impressed with the VOC tool demonstrated by LEOTrace, a relatively unknown German company that allows VOC capability to follow a customer to whatever site they may visit and give feedback as they’re visiting.

Sometimes when you visit booths, you get a salesperson who just rattles off the blurbs from the collateral and really doesn’t answer your questions or get you to that “Aha!” point.  Of all the exhibitors he spoke with, he must say that the best “Aha!” came when he was speaking with Richard Sutton, a Senior Account Executive with SiteSpect.  With Richard’s great conversation, The Marketing Consigliere could understand how their optimization via multivariate testing and A/B testing was different from other providers.  He would be willing to believe his claim that their methodology was more efficient, and Richard did a good job in raising his awareness enough to learn more about SiteSpect in the future.

The biggest surprises he had were from two of the smallest vendors at the conference.

Technology Leaders, based in New York City, is building the ability to take feeds from various analytics platforms, consolidate the data, cleanse it, warehouse it, and datamine it so you can see the bigger picture across your enterprise.   This would be great for companies obviously running multiple servers with different analytics vendors – and he means different as in quantitative, qualitative, video, voice, etc. Someday Marketers will be integrated these feeds right and left and will have an amazing insight into their audience. However, The Marketing Consigliere looks at it as a start of a new level of analytics and commend David Millrod, one of the firm’s Managing Partners that he met, for his company’s efforts to do this.

Numeric Analytics Logo

He wishes he could have spoken to Pete Affeld of Numeric Analytics longer; his enthusiasm in explaining using predictive economic modeling for marketers could have kept me awake in those late night, graduate-level economics classes (Z-con) he took for his MBA.

Numeric Analytics‘ Site Analytics tool is a testing and performance measuring tool using both econometric and predictive modeling to optimize the mix and frequency of online ads. Site Analytics is different from mainstream A/B and multivariate testing because it tests ads based on predicted conversions and profit to get a true understanding of the effect of variable ad serving.

Numeric Analytics Conversion Rates

Additionally, their Ad Analytics tool measures campaigns by incremental cost and revenue to ascertain the point of maximum profit. It utilizes advanced statistical and econometric modeling to optimize the media spend ROI and identifies the point where ad spend profit is maximized so you know how much, where and when to reallocate an ad spend.

All in all, eMetrics was a great show and from what The Marketing Consigliere heard from others, all of the tracks were very educational and worthwhile.  He hope it rolls into DC again next year.

The "Death of the Cold Call"

David Thompson, CEO of Genius.com wrote a succinct article in this week’s DM News titled, “Technology’s sales upside: The death of the cold call.” He makes a great point that with new web tools, which he calls “Sales 2.0,” enable sales people to “reach out to the right people, at the right time, with the right message.” [Read more...]

Focus Broadly and Let the Network Work For You

Focus groups, which are easily five-figure marketing expenses, are not embraced by all. Those that do understand the value of focus groups know that getting a focus group together is always a challenge and requires a lead time to find and attract qualified participants.

Likewise, it takes time to get observers assembled at the same time, behind the mirror to see what’s going on. And on many occasions, someone who could not be there during the live event is left with a video to review at their own convenience, and that video may not always be of the best quality. And sometimes “at their own convenience” occurs much later than should be. [Read more...]

Wired Magazine Agrees with The Marketing Consigliere (OK…. sort of…)

The Marketing Consigliere confesses to reading carbon-based media, holding it in his hand, and actually enjoying it. He also confesses to hanging out with geeks, being nice to them, and actually listening to them (but he certainly will not say that he himself is a “geek”). Lastly, he confesses to making huge leaps of faith on occasion when making certain statements regarding that in which what he so passionately believes.

And with these caveats he is happy to say that his few months’ worth of blogging has received high level validation of some sorts. OK, neither he nor The Marketing Consigliere Blog or his phrase “C4ISR Marketing” are specifically mentioned, but let him explain.

The October 2007 Wired issue features a supplement called Geekipedia - “149 People, Places, Ideas, and Trends You Need to Know now.” Two of the 149 entries in the Geekipedia are “Net-centric warfare” and “UAV” (Unmanned Aerial Vehicles). Disappointingly, “Analytics” was not cited as a standalone topic.

Geekipedia Cover

While the explanation of each topic focuses purely on the military use of technology, the fact that these are mentioned is significant. Wired says we need to know about them. The leap of faith he is asserting is that these two concepts will soon better understood and adopted by Marketers as part of the way they do business. Ok, the UAV part may take a bigger leap…

That is the main purpose of this blog – to embrace the military concepts of net-centricity and make them work for business in new ways. As he has written before, “Net-centric” is interchangeable with “C4ISR Marketing” and he encourages anyone to read his whitepaper on entitled “Net-Centric Marketing & Information Superiority.”

So in denying that he is a geek, let him also humbly deny that he is a visionary – He does not imply to out-vision Wired magazine. To him the concept he advocates is not some lofty perfect world scenario in the far-off future that will cause a stunning metamorphosis in business, although it will indeed transform businesses. As The Marketing Consigliere, he is merely a pragmatist and sees that this is coming. And many businesses that cannot keep up with the flow of data will fail or at best be second-tier in their domain. Will your business be ready for this evolution?