Customer Insights: Data collection, analysis and execution

Summer time is perfect for attending conferences and if the conference is organized by Canadian Marketing Association then it is even better. I was at the CMA’s roundtable conference and it was a great experience. As expected the conference was full of marketers from various marketing agencies and companies. The conference was focussed on using customer insights for successful marketing campaign execution and it was great to listen to some of the industry leaders. Below are some interesting points that I noticed during the presentation
1. Customer’s insights concept is all about consumer behaviour data collection, analysis and creating strategies that helps companies in creating an ideal customer’s profile for a particular product or service. It was great to go through some interesting marketing campaigns and all the presentations strengthened the fact that customer insights are necessary for any marketing project. However it will be interesting to know more about the support mechanism that is provided by the client’s marketing department to marketing agencies. I believe if the client management is really serious about working on an effective marketing campaign, this support mechanism is the key to success.
2. I am also curious about the decision making process in such marketing campaigns. Every data analysis process results into two or more than two hypothesis and strategists must be selecting one of those hypothesises. It is much easier to make a decision when you have a hypothesis leading by a huge margin but what happens in case of two hypothesises either have same scores or have a low difference in margins. Is there any industry standard process to make a decision or marketing agencies do it by their own standards? I hope not all such decisions are intuition based.
3. Last but not the least is the execution and analysis of the campaign results. Execution depends upon the customer insights but is there any way to measure how much the campaign is aligned with the customer insights. Also companies must be keeping a record of how much business they got from such marketing campaigns but do companies use this data for the future marketing campaigns?

For those who want to learn more about customer's insights, please visit this link