Marketing Process

Marketing Analytics
Marketing Process Slides

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The Marketing Process
Video 1
Welcome, Course Overview
Developed by Raj Venkatesan for the University of Virginia’s Darden School of Business
Marketing Analytics course. 1
Marketing Analytics
Marketing Analytics?
Optimization “What’s the best that can happen?”
Predictive Modeling “What will happen next?” Predictive and

Prescriptive
Randomized Testing “What if we try this?” Analytics
(the “so what”)
Degree Statistical Analysis “Why is this happening?”
of
Alerts “What actions are needed?”
Intelligence
Query/drill down “What exactly is the problem?” Descriptive
Analytics
Ad hoc reports “How many, how often, where?” (the “what”)
Standard Reports “What happened?”
Metrics, then analytics!

Source: Thomas Davenport, Competing on Analytics, 2007
Digital Universe
50
45 44
40
35
30
25
20
15
10
5
4.4
0
2013 2014 2015 2016 2017 2018 2019
2020
Trillion Gigabytes
- The digital universe of opportunities, IDC report, April 2014
Marketing Analytics
Improve Profitability and Productivity

120
100 6% 34% 5%
80
60
100% 66% 100%
40
20
0
Profitability Analytics Use Productivity
“The Big Data Management Revolution,” Harvard Business Review, 2012
Buzz about big data and analytics

High Capability Low
Performers Performers
have significant decision-support/analytical
65% 23%
capabilities
36% value analytical insights to a very large extent 8%
have above average analytical capability within
77% 33%
industry
73% make decisions based on data and analysis 51%
40% use analytics across their entire organization 23%
Marketing Analytics
Resources on Marketing Analytics
Resource Videos and Datasets at

http://dmanalytics.org
Course Overview
The Metrics for Customer

Marketing Regression
Marketing Measuring Lifetime Experiments Analysis
Process Brand Assets Value
Marketing Analytics
By the end of this course, you will be able to….
•Use analytics to improve your marketing process

 Understand, measure, and track brand value
 Understand, calculate, use customer lifetime value to
inform business and marketing decisions
 Understand, design, implement, and analyze marketing
experiments
 Understand, interpret, and apply insights from regression
analysis
Video 2
Introduction to the Marketing Planning Process
Marketing Analytics
The Marketing Process

Customer
Margin Company
ROI Financials Objectives Competitor
CLV Collaborators
Content
Product
Segmentation
Price
Tactics Strategy Targeting
Place
Positioning
Promotion
What you’ll be able to do by the end of this week…

•Understand the marketing planning process
•Explain how data-driven decision making impacts
marketing
•Describe how Airbnb used analytics to improve its
marketing strategy
•Apply the marketing planning process to address your
marketing challenges
•Apply the analytics process to your marketing
challenges
Marketing Analytics
Video 3
Airbnb Marketing Process
Airbnb Marketing Process

Customer
Margin Company
CLV Collaborators
Content
Product
Segmentation
Price
Place
Positioning
Promotion
Marketing Analytics
Customer
Margin Company
CLV Collaborators
Content
Product
Segmentation
Price
Place
Positioning
Promotion
Airbnb Objectives
Customer Company Competitor Collaboration Context

You and Airbnb Hotels You and Me Sharing Economy
Me
Marketing Analytics
Customer
Margin Company
CLV Collaborators
Content
Product
Segmentation
Price
Place
Positioning
Promotion
Airbnb Strategy
•Segmentation
Location Adventure Price Vacation Family Students
Marketing Analytics
Airbnb Strategy
•Targeting
Airbnb Strategy
•Positioning
Value Propositions
Marketing Analytics
Customer
Margin Company
CLV Collaborators
Content
Product
Segmentation
Price
Place
Positioning
Promotion
Airbnb Tactics: Product
Marketing Analytics
Airbnb Tactics: Price
Airbnb Tactics: Location
Marketing Analytics
Airbnb Tactics: Promotion
Customer
Margin Company
CLV Collaborators
Content
Product
Segmentation
Price
Place
Positioning
Promotion
Marketing Analytics
Airbnb Financials
•Margin
•ROI
•CLV
Video 4
Airbnb’s Strategic Challenge
Marketing Analytics
How Does Airbnb Make Money?
6-12 % 3%
Guests Reservation subtotal Airbnb Service fee Host

How do we improve the rental prospects for out hosts and
identify better rental options for our guests?
 How do we leverage the user generated content on our website?
 Is there value in improving the pricing of properties?
Marketing Analytics
Video 5
Airbnb Marketing Strategy with Data

How do we improve the rental prospects for out hosts and
identify better rental options for our guests?
 How do we leverage the user generated content on our website?
 Is there value in improving the pricing of properties?
Marketing Analytics
Mental Model – Airbnb

Price
Profit Per Property
Star Rating
Review # of Rentals Gross Margin(%)
Property Attributes
Minimum Stay

Price
Profit Per Property
Star Rating
Property Attributes
Minimum Stay
Marketing Analytics

Price
Profit Per Property
Star Rating
Property Attributes
Minimum Stay
What data is necessary to test Airbnb’s mental model?
Marketing Analytics
Video 6
Gleaning Data from Reviews
Airbnb Positive Review

Nicolas is a great host everything was
perfect and the flat is amazing and the
location is great in a quiet area near the
subway I definitively come back here
Marketing Analytics


Review sentiment 1.22
Marketing Analytics
Airbnb Mixed Review

Nicolas is a bad host everything was horrible
and the flat is dirty But the location is great
in a quiet area near the subway I will not
come back here
Airbnb Mixed Review

come back here
Marketing Analytics
Airbnb Mixed Review

come back here
Review sentiment -0.36
Video 7
Utilizing Data to Improve Marketing Strategy
Marketing Analytics
Analytics - Airbnb
Regression
$ 60 x 1 night
#of Saved
Wishes
Text Analytics Review

Sentiment
Analytics - Airbnb
Regression
$ 60 x 1 night
#of Saved
Wishes

Sentiment
Marketing Analytics
Analytics - Airbnb
Regression
$ 60 x 1 night
#of Saved
Wishes

Sentiment
Analytics - Airbnb
Regression
$ 60 x 1 night
#of Saved
Wishes

Sentiment
Marketing Analytics
Analytics - Airbnb
Regression
$ 60 x 1 night
#of Saved
Wishes

Sentiment
Analytics - Airbnb
Regression
$ 60 x 1 night
#of Saved
Wishes

Sentiment
Marketing Analytics
Insights Gained - Airbnb Data Collection

Use a region-specific strategy
Review Sentiment Price

Cleaning Fees Security Deposit
Cleaning Fees
Marketing Analytics

Use a region-specific strategy
Review Sentiment Price

Cleaning Fees Security Deposit
Cleaning Fees
Video 8
Key Takeaways : Improving the Marketing

Process with Analytics
Marketing Analytics

Prescriptive
(the “so what”)
of
Intelligence
Analytics


Prescriptive
(the “so what”)
of
Intelligence
Analytics

Marketing Analytics
Takeaways
• Marketing is both an art and a science.
• Analytics provides marketing managers the opportunity to
test intuition about marketing.
• Insights from analytics can challenge widely held
assumptions.
• Confidence in decisions that flow out of marketing process is
higher when it is informed by analytics.
You should now be able to…

• Understand the marketing planning process
• Explain how data-driven decision making impacts
marketing
• Describe how Airbnb used analytics to improve its
marketing strategy
• Apply the marketing planning process to address your
marketing challenges
• Apply the analytics process to your marketing challenges

Marketing Process

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Marketing Process

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Marketing Analytics

Marketing Process Slides

The Marketing Process

Welcome, Course Overview

Predictive Modeling “What will happen next?” Predictive and

Metrics, then analytics!

- The digital universe of opportunities, IDC report, April 2014

Improve Profitability and Productivity

“The Big Data Management Revolution,” Harvard Business Review, 2012

Buzz about big data and analytics

Source: Thomas Davenport, Competing on Analytics, 2007

Resources on Marketing Analytics

Resource Videos and Datasets at

The Metrics for Customer

By the end of this course, you will be able to….

•Use analytics to improve your marketing process

Introduction to the Marketing Planning Process

The Marketing Process

What you’ll be able to do by the end of this week…

Airbnb Marketing Process

Airbnb Marketing Process

Customer Company Competitor Collaboration Context

Location Adventure Price Vacation Family Students

Location Adventure Price Vacation Family Students

Location Adventure Price Vacation Family Students

Airbnb Tactics: Product

Airbnb Tactics: Price

Airbnb Tactics: Location

Airbnb Tactics: Promotion

Airbnb’s Strategic Challenge

How Does Airbnb Make Money?

Airbnb’s Strategic Challenge

Airbnb Marketing Strategy with Data

Airbnb’s Strategic Challenge

Mental Model – Airbnb

Review # of Rentals Gross Margin(%)

Mental Model – Airbnb

Review # of Rentals Gross Margin(%)

Mental Model – Airbnb

Review # of Rentals Gross Margin(%)

What data is necessary to test Airbnb’s mental model?

Gleaning Data from Reviews

Airbnb Positive Review

Airbnb Positive Review

Airbnb Positive Review

Review sentiment 1.22

Airbnb Mixed Review

Airbnb Mixed Review

Airbnb Mixed Review

Review sentiment -0.36

Utilizing Data to Improve Marketing Strategy

Text Analytics Review

Text Analytics Review

Text Analytics Review

Text Analytics Review

Text Analytics Review

Text Analytics Review

Insights Gained - Airbnb Data Collection

Insights Gained - Airbnb Data Collection

Review Sentiment Price

Insights Gained - Airbnb Data Collection

Review Sentiment Price

Key Takeaways : Improving the Marketing