Tag Archives: analytics

Young Adults Shopping at Wal-Mart

27 Jul

Yes, you read the title to this post correctly. Despite some stereotypes to the contrary, Wal-Mart is attracting lots of young adults.

InfoScout recently conducted research on this subject. As reported by Jack Neff for Advertising Age, there were some unexpected results:

“What’s the hottest big retailer with millennials [young adults]? Wal-Mart. The reason may be its investment in E-commerce and mobile, or it could be that its low prices resonated during the economic downturn. Or it could be specialty Tommee Tippee baby bottles [ :-) ].”

“‘Millennials now, as a generation, like Wal-Mart the best, more so than Generation X, more so than boomers,’ said Matt Kistler, Wal-Mart senior VP-consumer insights and analytics. ‘That kind of shocks a lot of people, including inside the company,’ admitted Wal-Mart Chief Marketing Officer Stephen Quinn.”

“It doesn’t exactly jibe with the perception that big-box supercenters are losing ground to niche brands, small stores, and E-commerce. Mr. Quinn sees it differently. ‘As millennials become time-crunched with relationships and kids coming along, it’s opening up a strong need for them to have a one-stop shop,’ he said.”

Click the chart to read more from Neff.
 

 

Free Resources from Trendwatching.com

17 Jul

Trendwatching.com is an excellent source of information about current and emerging trends around the globe:

“Established in 2002, we help forward-thinking business professionals in 180+ countries understand the new consumer and subsequently uncover compelling, profitable innovation opportunities. We rely on professionals in London, New York, São Paulo, Singapore and Lagos and on our network of spotters in more than 90+ countries worldwide.”

At its Web site, Trendwatching.com makes available a number of free resources. Here are some recent examples:

 

 

Analyzing Competitors’ Social Media Activities

14 Jul

How can we assess the social media activities of competitors? Although there are several perspectives we can take, Social Media Examiner has presented several excellent tips for monitoring competitors.

As reported by Megan Hannay:

“Researching your competitors on social media not only provides an overview of your industry, but it also gives you insight into the current habits of the audiences you’re targeting. By answering a few key questions, you’ll see what kinds of posts are effective for the people you want to reach.”

Here are just some of the questions raised by Hannay in her article:

#1: Analyze Facebook Pages — If you want to gain insight into a company’s Facebook page, here are some questions to consider: How many followers do they have? What are they posting about?Are their posts mostly internal (company-based) news, blog posts and articles; mostly external news, blog posts and articles; or a mix of both?”

#2: Look at Twitter Accounts — How many followers do they have? How many accounts are they following? A good rule of thumb: An account with 50,000 followers that’s following 500 users probably has more influence than an account with 50,000 followers that’s following 49,000 users, unless they bought followers.”

#3: Examine Instagram Accounts — How many followers do they have? How many accounts are they following? Are their posts mostly internal, external or a mix of both? How on-brand are their photos? Do they show the product or service in each shot, or do they follow a more lifestyle-oriented content strategy?”

#4: Review YouTube Channels — What’s their video content like, and how on-brand is it? Do they stick to product tutorials, or do they branch out to product non-specific tutorials? Do they show off company parties and happy hours? How many subscribers do they have?”

#5: Evaluate Pinterest Accounts — How many followers do they have, and how many users do they follow? How do they show off their product or service in pins? How do they organize their pins? What are their board names? Are their pins all brand-generated (product pins) or do they repin others?”

#6: Monitor Snapchat, Periscope, and Meerkat Accounts — Due to the nature of their content, it’s difficult to evaluate these channels in one go. But if your competitors use them, follow their accounts and check out their content when it goes live. Here are some questions to consider: What content are they posting? How many interactions (on Periscope and Meerkat) do they garner from their fans?”

 
Click the image to read all of Hannay’s suggestions.


 

Why Is the Management of Big Data So Difficult?

13 Jul

As we have posted several times before, big data analytics are here to stay and growing in importance. [See, for example, 1, 2, 3, 4.] Nonetheless, big data analytics are not simple.

According to eMarketer:

“Companies’ increased customer focus, demand for business growth and expansion, and the need to keep up with competitors are all fueling big data adoption, according to industry sources. In a February 2015 study conducted by Vanson Bourne for CA Technologies, improving the customer experience (60%) and the need to get new customers (54%) were the leading factors driving the need for big data projects, according to IT managers worldwide. Increasing top-line revenue growth (46%), entering new markets (42%), keeping up with the competition (41%) and outpacing competitors (34%) followed. May 2015 polling by 2nd Watch found similar results. Here, U.S. IT and business execs cited identifying new areas for business growth or product strategy (33%) as well as areas for operational efficiency and cost savings (28%) as the top drivers for big data plans, followed by better understanding customers and improving the customer experience (25%).”

 

“However, challenges related to skill sets and poor technology arise when it comes to actually implementing big data. Among 2nd Watch respondents, data quality issues, outdated infrastructure, and a lack of internal expertise were the biggest hurdles to execution.”

 
 
 Click the chart to read more.
 

Marketing Interfaces with IT Need to Get Better

10 Jul

Recently, we wrote about “Marketing and Sales: Better Cooperation Needed.” But, the same may also be said about about marketing and IT (information technology).
 
As reported by eMarketer:

“With technology now an integral part of marketing, it’s critical for marketing and IT teams to be on the same page. However, April 2015 research by Harvey Nash in association with KPMG found that IT’s relationship with marketing was the weakest among departments.”

 

“Marketing and IT departments will need to turn around their poor relationships, as further results highlighted an increase in collaboration. When asked which department owned the digital or E-commerce strategy at their company, nearly half of tech execs said it was shared by IT and marketing — the No. 1 response and up from 40% last year, when the percentage saying this had actually fallen. Among those who weren’t sharing the responsibility, marketers had lost a great share to IT and ‘other’ departments.”

 

Click the chart to read more from eMarketer.

 

 

A Provocative Take on the Future of Self-Driving Cars

26 Jun

Self-driving cars are in the late stages of testing in the United States. Besides safety issues, consumer skepticism, the regulatory environment will have a major impact on how quickly and widely that self-driving cars make it in the market.

Given that self-driving cars will/may be sold in the very near future, we need to better understand where the marketplace will be headed. Recently, McKinsey’s Michele Bertoncello and Dominik Weewe published a thought-provoking view of self-driving cars: “Ten Ways Autonomous Driving Could Redefine the Automotive World — The Development of Self-Driving, or Autonomous, Vehicles Is Accelerating. Here’s How They Could Affect Consumers and Companies.”

  1. “Industrial fleets lead the way.”
  2.  “Car OEMs [original equipment manufacturers face a decision. Automakers worldwide will likely define and communicate their strategic position on AVs in the next two to three years.”
  3.  “New mobility models emerge. While OEMs are developing autonomous vehicles, a variety of other transport-mobility innovations are already hitting the road.”
  4.  “The car-service landscape changes.”
  5.  “Car insurers might shift their business model. Car insurers have always provided consumer coverage in the event of accidents caused by human error. With driverless vehicles, auto insurers might shift the core of their business model, focusing mainly on insuring car manufacturers from liabilities from technical failure of their AVs, as opposed to protecting private customers from risks associated with human error in accidents.”
  6.  “Companies could reshape their supply chains.”
  7.  “Drivers have more time for everything. AVs could free as much as 50 minutes a day for users, who will be able to spend traveling time working, relaxing, or accessing entertainment.”
  8.  “Parking becomes easier. AVs could change the mobility behavior of consumers, potentially reducing the need for parking space in the United States by more than 5.7 billion square meters.”
  9.  “Accident rates drop. By mid-century, the penetration of AVs and other ADAS could ultimately cause vehicle crashes in the United States to fall from second to ninth place in terms of their lethality ranking among accident types.”
  10.  “AVs accelerate robotics development for consumer applications.”

 
Click the chart to read the full article.

McK1
 

Doing Better with Google Analytics: An Infographic

15 Jun

Over the years, we have posted several times about the importance and value of Google Analytics for marketers. See, for example, 1, 2, 3, 4, 5.

So, you are using Google Analytics as part of your Web site analysis, right? You are doing everything you can to score well on Google Analytics, right?

Here is an infographic from QuickSprout to help you do even better.

 

 

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