tag:econsultancy.com,2008:/topics/data-analytics Latest Data & Analytics content from Econsultancy 2016-07-21T11:42:00+01:00 tag:econsultancy.com,2008:BlogPost/68095 2016-07-21T11:42:00+01:00 2016-07-21T11:42:00+01:00 Measurement and Analytics Report 2016: Four key challenges in dealing with data Nikki Gilliland <p>Of course, the sheer amount of data available isn’t the only problem.</p> <p>Here are four key charts from the report, highlighting four further challenges for companies in measuring the value of data.</p> <h3>Securing executive sponsorship</h3> <p>While many view digital analytics as a vital part of a company’s <a href="https://econsultancy.com/training/digital-transformation/">digital transformation</a>, there is somewhat of a discrepancy in securing support from the top down.</p> <p>51% of company respondents say that they don’t have executive sponsorship.</p> <p>As a result, this can have a marked impact on approach, with these companies 29 percentage points less likely to have a formal data strategy in place. </p> <p><img src="https://assets.econsultancy.com/images/0007/7257/executive_sponsorship.PNG" alt="" width="761" height="558"></p> <h3>Lack of ROI measurement</h3> <p>Without a direct correlation between investment in digital analytics and financial outcome, the value of data can never be defined.</p> <p>Research found that 48% of companies are failing to measure that return on investment – a statistic which puts the aforementioned problem of securing sponsorship into context.</p> <p>On the other hand, the below graph does show some encouraging signs, with over half of companies citing that they do measure ROI on analytics investments.  </p> <p><img src="https://assets.econsultancy.com/images/0007/7258/measurement_of_roi.PNG" alt="" width="780" height="525"></p> <h3>Implementing a formal strategy</h3> <p>62% of companies do not have a formally documented data analytics strategy in place, which goes to show just how much room for improvement there still is.</p> <p>Taking heed from those who do, a combined offline and online strategy could prove to be the most effective, with a merging of the customer journey providing the most insight.</p> <p>When it comes to the reasons for a lack of formal strategy, money is a big factor, with companies that turn over less than £50m being 11% less likely to have one.</p> <p><img src="https://assets.econsultancy.com/images/0007/7259/documented_strategy.PNG" alt="" width="780" height="619"></p> <h3>Bridging the skills gap</h3> <p>While ‘producing reports’ is one of the biggest skills in demand, research shows that this is being met internally.</p> <p>On the other hand, there does appear to be a growing skills gap in more specific areas like business intelligence tools.</p> <p>This appears to be a result of the growing focus on digital transformation, and in particular, the way that digital integration is becoming a business-wide objective.</p> <p>As more training is needed to match the pace of technological change, it’s not just a case of cherry-picking the most useful data – but having the support and skills to do so.</p> <p><img src="https://assets.econsultancy.com/images/0007/7261/skills_gap.PNG" alt="" width="760" height="701"></p> <p><strong>For further insight into this topic, subscribers can download the <a href="https://econsultancy.com/reports/measurement-and-analytics-report/">Measurement and Analytics Report 2016</a> in full.</strong></p> <p><em><strong>July is Data Month at Econsultancy, so <a href="https://hello.econsultancy.com/datamonth/?utm_source=econsultancy&amp;utm_medium=blog&amp;utm_campaign=econblog">be sure to check out our latest reports and blog posts</a>.</strong></em></p> tag:econsultancy.com,2008:Report/4200 2016-07-21T11:05:00+01:00 2016-07-21T11:05:00+01:00 Measurement and Analytics Report 2016 <h2>Overview</h2> <p>Never have marketers, analysts and ecommerce professionals had more data to work with as part of their ongoing efforts to improve business and organisational performance.</p> <p>At the same time, the growing challenge for individuals and organisations alike has been to avoid being overwhelmed by proliferating sources of data and metrics across a burgeoning number of marketing channels and technology platforms.</p> <p>The <strong>Measurement and Analytics Report 2016</strong>, produced by Econsultancy in partnership with analytics consultancy <strong><a href="http://www.lynchpin.com/">Lynchpin</a></strong> for the ninth year running, looks at how organisations are using data strategically and tactically to generate insights and to improve business performance.</p> <p>The research, based on a survey of almost 1,000 digital professionals, also focuses on the important role for data and analytics in supporting their attempts to build a competitive advantage by becoming more customer-centric.</p> <h2>What you'll learn from this research</h2> <ul> <li>Understand how analytics can help to meet financial goals and what the most common growth and profit-related requirements are.</li> <li>Discover how organisations are using data and analytics to build a competitive advantage by becoming more customer-centric.</li> <li>Benchmark the make-up of your analytics or data team and investment plans against those of your peers.</li> <li>Find out where the biggest analytics skills gaps are and what the most common challenges related to deploying tools and technologies organisations face.</li> </ul> <h2>Key findings from the report</h2> <ul> <li>The vast majority (84%) of marketers agree that their understanding of the customer is increasing over time, and 64% say that they are using data-driven customer insights to adapt their marketing strategies and influence business decisions.</li> <li>Despite the increasing importance of data, the proportion of analytics data used to drive decision-making within the organisation dropped by seven percentage points compared to last year's survey.</li> <li>While 77% of marketers believe digital analytics important to their company’s digital transformation, fewer than one in five consider digital reporting to have a ‘very influential’ role in supporting business decisions.</li> </ul> <h2>Features of the report</h2> <p>Based on a survey of almost 1,000 digital business professionals, this report also aims to cut through the noise to understand how companies are using measurement and analytics to boost revenue and profit growth, while also looking at the types of technology and data which are used to meet these ends.</p> <p><strong>Download a copy of the report to learn more.</strong></p> <p>A <strong>free sample</strong> is available for those who want more detail about what is in the report.</p> tag:econsultancy.com,2008:BlogPost/68076 2016-07-19T09:55:54+01:00 2016-07-19T09:55:54+01:00 15 wondrous examples of data visualization Nikki Gilliland <h3>1. Weather around the world</h3> <p>Ventusky is a meteorological data viz that shows you what the weather is like across the globe. As you can see, it's a constant state of mild precipitation in the UK.</p> <p>Click through to check out the animated version.</p> <p><a href="http://www.ventusky.com/?p=51.809;19.160;3&amp;l=temperature&amp;t=20160714/08" target="_blank"><img src="https://assets.econsultancy.com/images/0007/7074/Capture.PNG" alt="" width="780" height="452"></a> </p> <h3>2. The size of all known objects in our universe</h3> <p>This impressive example by Nikon showcases the relative size of objects arranged on a single scale, ranging from the miniscule to the mammoth.</p> <p><a href="http://www.nikon.com/about/feelnikon/universcale/index.htm?ref=1" target="_blank"><img src="https://assets.econsultancy.com/images/0007/7087/universcale.PNG" alt="" width="780" height="420"></a> </p> <h3>3. Wimbledon 2016 winners and losers</h3> <p>This score table instantly displays who beat who in this year's Wimbledon tennis championships. Go Muzza!</p> <p><a href="http://charts.animateddata.co.uk/wimbledon/2016/matchtree/mens/" target="_blank"><img src="https://assets.econsultancy.com/images/0007/7086/wimbledon.PNG" alt="" width="780" height="594"></a> </p> <h3>4. Twitter reaction to goals during Euro 2016</h3> <p>Here, Twitter uses its own data to gauge excitement caused by goals during this year's Euros.</p> <p>It shows who scored, when, and the subsequent reaction online. You can filter by teams, rounds or players.</p> <p><a href="https://interactive.twitter.com/euro2016/"><img src="https://assets.econsultancy.com/images/0007/7088/euro_2016.PNG" alt="" width="780" height="365"></a></p> <p><img src="https://assets.econsultancy.com/images/0007/7194/Screen_Shot_2016-07-19_at_08.44.50.png" alt="twitter euro reaction to engalnd games" width="780"></p> <h3>5. Britain's diet in data</h3> <p>A fascinating insight into the changing diets of Britain, compiled by the Open Data Institute, using data from the Department for Environment, Food and Rural Affairs.</p> <p><a href="http://britains-diet.labs.theodi.org/" target="_blank"><img src="https://assets.econsultancy.com/images/0007/7084/britains_diet.PNG" alt="" width="780" height="465"></a> </p> <h3>6. Gay marriage state by state</h3> <p>From the New York Times, this visual shows the changing legislation regarding same-sex marriages across the United States.</p> <p><a href="http://www.nytimes.com/interactive/2015/03/04/us/gay-marriage-state-by-state.html"><img src="https://assets.econsultancy.com/images/0007/7195/Screen_Shot_2016-07-19_at_08.50.54.png" alt="gay marriage in the us" width="780"></a></p> <h3>7. The daily routines of famous creatives</h3> <p>Discover how some of the greatest minds spent their days.</p> <p>From Maya Angelou to Charles Dickens, this colourful table provides an insight their daily routines.</p> <p><a href="https://podio.com/site/creative-routines" target="_blank"><img src="https://assets.econsultancy.com/images/0007/7081/creative_routines.PNG" alt="" width="780" height="435"></a></p> <h3>8. Wind flowing over the US</h3> <p>This mesmerising map shows the tracery of wind that's flowing over the United States. Using data from the National Digital Forecast Database, it is able to show a live portrait.</p> <p>Click through to watch.</p> <p><a href="http://hint.fm/wind/" target="_blank"><img src="https://assets.econsultancy.com/images/0007/7082/wind_map.PNG" alt="" width="780" height="430"></a></p> <h3>9. Where do creatives cluster?</h3> <p>This series of visuals from NESTA depicts the distribution of creative workers throughout the UK, including those who work in 'creative occupations' defined by the Department for Culture, Media &amp; Sport.</p> <p><a href="http://www.nesta.org.uk/blog/where-do-creatives-cluster" target="_blank"><img src="https://assets.econsultancy.com/images/0007/7076/creative_occupations.PNG" alt="" width="600" height="469"></a></p> <h3>10. Most frequently requested skills in job adverts</h3> <p>NESTA again gives us an interesting look at the most sought-after skills for work, broken down into digital tech, creative, and other industries.</p> <p><a href="http://www.nesta.org.uk/blog/top-30-skills-chart"><img src="https://assets.econsultancy.com/images/0007/7077/skills.PNG" alt="" width="780" height="449"></a></p> <h3>11. Two centuries of US immigration</h3> <p>A time-lapse visual showing the amount of immigration to the US over a period of two hundred years.</p> <p>The animation from Metrocosm also highlights the top three countries for migration over time.</p> <p><a href="http://metrocosm.com/us-immigration-history-map.html?ref=producthunt"><img src="https://assets.econsultancy.com/images/0007/7083/us_immigration.PNG" alt="" width="780" height="408"></a> </p> <h3>12. Country to country migration from 2010 to 2015</h3> <p>Another migration visual, this time showing net migration during the past five years.</p> <p><a href="http://metrocosm.com/global-immigration-map/?utm_content=buffer113b2&amp;utm_medium=social&amp;utm_source=twitter.com&amp;utm_campaign=buffer" target="_blank"><img src="https://assets.econsultancy.com/images/0007/7085/net_migration.PNG" alt="" width="780" height="461"></a></p> <h3>13. Food hygiene in London-based businesses</h3> <p>Ever wonder how clean restaurant kitchens really are? This handy breakdown of food hygiene in London lists businesses by borough and rating.</p> <p>One of Visual.ly specialisms is creating data visualisations and you'll find more examples on their website. </p> <p><a href="http://visual.ly/london-food-hygiene?view=true" target="_blank"><img src="https://assets.econsultancy.com/images/0007/7080/food_hygiene.PNG" alt="" width="780" height="333"></a></p> <h3>14. Historical images of New York City mapped</h3> <p>A fascinating insight into old New York, this interactive map by the New York Public Library lets you view photographs relating to exact locations.</p> <p><a href="http://www.oldnyc.org/" target="_blank"><img src="https://assets.econsultancy.com/images/0007/7090/oldnyc.PNG" alt="" width="780" height="488"></a></p> <h3>15. The lasting legacy of Miles Davis</h3> <p>Not all data visualisations have to be so serious.... this quirky example from Polygraph conveniently lists all the Wikipedia pages that mention Miles Davis. Because, why not?</p> <p><img src="https://assets.econsultancy.com/images/0007/7089/miles_davis.PNG" alt="" width="540" height="626"></p> <p><strong>July is Data Month at Econsultancy, so be sure to check out <a href="https://hello.econsultancy.com/datamonth/?utm_source=econsultancy&amp;utm_medium=blog&amp;utm_campaign=econblog">our latest reports and blog posts</a>.</strong></p> tag:econsultancy.com,2008:BlogPost/68079 2016-07-15T13:15:43+01:00 2016-07-15T13:15:43+01:00 10 notable digital marketing stats of the week Nikki Gilliland <p>Now, let's crack on.</p> <h3>Amazon receives 81.6m visitors on Amazon Prime Day</h3> <p>It’s been criticised for its lacklustre algorithm, but in terms of traffic, Amazon Prime Day has been confirmed as a success for the retailer.</p> <p>Despite visits from mobile and desktop falling 6% from last year, Amazon.com still received 81.6m visits on <a href="https://econsultancy.com/blog/68058-has-amazon-prime-day-2016-made-up-for-2015-s-primedayfail/">Prime Day 2016</a>.</p> <p>According to data from Hitwise, a division of connexity, this means it has been the most successful online shopping event since Cyber Monday, Black Friday and Amazon Prime Day of 2015.</p> <p><img src="https://assets.econsultancy.com/images/0007/7120/amazon_prime.PNG" alt="" width="599" height="287"></p> <h3>Pokemon Go surpasses Candy Crush with highest number of US daily users</h3> <p>With 15m downloads, and currently just under 21m daily active users, <a href="https://econsultancy.com/blog/68060-what-brands-can-learn-from-nintendo-s-digital-transformation-and-pokemon-go/">Pokemon Go</a> is now the biggest mobile game in US history.</p> <p>It’s only just out in the UK, however data from BoomApp has revealed that over 3% of UK android users had already downloaded the game ahead of its release.</p> <p>Which means, you can probably expect more Pokemon related stats next week…</p> <p><img src="https://assets.econsultancy.com/images/0007/7122/pokemon_go.PNG" alt="" width="400" height="335"></p> <h3>Millennials are a key demographic for energy providers </h3> <p>According to research by Accenture, millennials will drive much of the future value for energy providers, with 24% being classed as early adopters.</p> <p>However, despite this, the demographic is also the most demanding.</p> <p>81% of millennials say they would be discouraged from signing up to additional products or services if the company did not offer a seamless digital experience.</p> <h3>APAC overtakes US as world’s biggest digital ad market</h3> <p>Research from Strategy Analytics has found that Asia-Pacific is set to overtake North America for digital ad spend in 2016.</p> <p>While the latter will rise 9.6% to $59.5bn, APAC is predicted to rise 18.2% to $59.7bn.</p> <p>What’s more, APAC’s spend per person is relatively low in comparison to the saturated markets in the west, meaning there is huge potential for growth.</p> <p><img src="https://assets.econsultancy.com/images/0007/7123/Trend_in_Digital_Ad_Spend_by_Region_540.PNG" alt="" width="540" height="316"></p> <h3>UK population saving 51.4m hours per month thanks to disruptive apps </h3> <p>Opinium has discovered that apps and online tools are saving consumers a collective 51.5m hours over the course of each month.</p> <p>With convenience and time saving being cited as the most important advantage of an app (even over saving money), customer loyalty is up for grabs.</p> <p>68% of survey respondents said that would have no qualms about switching from traditional brands when given the option.</p> <h3><strong>Consumer goods firms unprepared for new data regulation</strong></h3> <p>Capgemini Consulting has revealed that companies risk facing fines of up to $151 billion, by failing to comply with the new General Data Protection Regulation.</p> <p>While the legislation has been created by the European Union, anyone that holds data within Europe or offers services to EU citizens will be affected.</p> <p>With 90% of consumer-facing companies experiencing customer data breaches, many are failing to put safeguards in place.</p> <h3>One in four name Amazon their favourite brand</h3> <p>In a survey of 1,000 consumers, the DMA found that one in four people named Amazon as their favourite brand.</p> <p>High street favourites John Lewis and <a href="https://econsultancy.com/blog/67883-marks-spencer-what-does-putting-the-customer-at-the-heart-of-everything-mean/">Marks &amp; Spencer</a> were next in line.</p> <p>With just three out of the top twenty being online brands (ASOS, eBay and Amazon), the physical shopping experience is clearly still in favour.</p> <h3>Live TV viewing drops 6% in two years</h3> <p><a href="http://stakeholders.ofcom.org.uk/binaries/broadcast/reviews-investigations/psb-review/psb2016/PSB-Annual-Report-2016.pdf" target="_blank">Ofcom's Annual Research Report</a> has revealed that fewer young people are watching live television than ever before.</p> <p>From 2014 to 2016, the total viewing time of live TV among young adults dropped from 69% to 63%</p> <p>With one-third of all viewing among 16 to 24 year olds occuring via on-demand services, platforms like Amazon and Netflix have seen a surge.</p> <p><img src="https://assets.econsultancy.com/images/0007/7139/ofcom_report.PNG" alt="" width="633" height="373"></p> <h3>YouTube pays $2bn to content owners</h3> <p>A statement from Google has revealed that YouTube has generated over $2bn for content owners from its Content ID management system.</p> <p>Over 90% of Content ID claims result in monetisation, and the music industry in particular chooses to monetise 95% of claims.</p> <p>With even <a href="https://publicpolicy.googleblog.com/2016/07/continuing-to-create-value-while.html" target="_blank">more efforts to combat copyright infringment</a>, Google has in turn created a whole new revenue stream for companies.</p> <h3>Apple overtaken by local brands in China</h3> <p>Apple's iPhone is no longer one of the top smartphones in China, having been overtaken by local brands like Huawei, Vivo, Oppo and Xiaomi.</p> <p>The iPhone has dropped to the fifth most popular, although it remains the biggest non-Chinese brand.</p> <p>Huawei, a brand with a lower price point, has seen its market share rise to 17%, while Apple's has dropped to 10.8%.</p> tag:econsultancy.com,2008:BlogPost/68073 2016-07-15T10:09:08+01:00 2016-07-15T10:09:08+01:00 How marketers can use new tech to deliver meaningful brand experiences Nikki Gilliland <p>And to truly connect, this experience must be meaningful.</p> <p>That's easier said than done, so here's a look at five ways in which <a href="https://blogs.adobe.com/digitaleurope/files/2016/07/Adobe-Report-The-Future-of-Experience.pdf">the report</a> suggests brands can create meaningful experiences.</p> <h3>Use technology to drive emotion</h3> <p>Most consumers crave experiences that connect on an emotional level. </p> <p>For brands, this means using technology in more creative ways.</p> <p>With their ability to transport users from reality into an entirely different world, <a href="https://econsultancy.com/blog/67713-augmented-reality-vs-virtual-reality-where-should-brands-focus/">virtual and augmented reality (VR and AR)</a> are the most obvious tools to use.</p> <p>However, it can only work if the technology and content work in unison.</p> <p>If it allows the user to connect with an idea or other person (as opposed to isolating them from the world) then it moves from an immersive experience into an empathetic experience – one that’s driven by emotion, regardless of the channel or platform.</p> <p>Another way brands can promote empathy and emotion is through social good.</p> <p>One example of this is <a href="https://econsultancy.com/blog/67953-how-lush-cosmetics-uses-word-of-mouth-marketing/">Lush</a>, a cosmetics retailer that runs charitable campaigns and supports grass-roots organisations.</p> <p>By giving the consumer a meaningful reason to buy, it also provides them with a very good reason to come back.</p> <p><img src="https://assets.econsultancy.com/images/0007/7056/meaningful_experience.PNG" alt="" width="600" height="254"></p> <h3>Creating new and unexpected experiences</h3> <p>Is there such a thing as too much personalisation?</p> <p>Some say there is, with tailored recommendations and highly curated feeds taking away the element of surprise (a key factor for a meaningful experience).</p> <p>So what’s the answer?</p> <p>To ensure that human, one-to-one creativity works in conjunction with technology to create a contextual experience for the consumer.</p> <p>A good example of this is when brands <em>only</em> <a href="https://econsultancy.com/blog/67756-influencer-marketing-it-s-all-about-the-audience/">work with influencers</a> when there is benefit for all parties involved. </p> <p>If there is a lack of natural affinity, not only will it harm the reputation of those involved, but it will also alienate the audience. </p> <p><img src="https://assets.econsultancy.com/images/0007/7057/discovery.PNG" alt="" width="431" height="267"></p> <h3>Providing a value exchange</h3> <p>When it comes to technology, privacy and data protection is a hot topic.</p> <p>However, a new conversation has recently started in relation to technology actually creating or aiding moments of privacy.</p> <p>As we’ve seen from the growing popularity of ad blockers, consumers are increasingly keen to take control over their own digital worlds.</p> <p>Input from brands is often seen as an intrusion or unwelcome distraction – unless there is an exchange of value.</p> <p>And where does the value lie? Again, the report suggests it's in that meaningful experience.</p> <p>Whether it’s help to get fit or map out a journey, so long as brands provide something of value (as well as complete transparency), consumers are likely to accept their data being taken in exchange. </p> <p><img src="https://assets.econsultancy.com/images/0007/7061/connecting.PNG" alt="" width="529" height="307"></p> <h3>Offer practical and progressive experiences</h3> <p>With 54% of people citing that a good digital experience seamlessly integrates into their own lives, experiences don’t only need to be emotional to be meaningful, but helpful and practical too.</p> <p>If an experience helps a user progress some way, they are automatically going to want to use it again.</p> <p>With machine learning and <a href="https://econsultancy.com/blog/67745-15-examples-of-artificial-intelligence-in-marketing/">artificial intelligence</a> constantly evolving, brands need to learn how to interpret and use data for the benefit of the consumer.</p> <p><img src="https://assets.econsultancy.com/images/0007/7059/seamless.PNG" alt="" width="516" height="341"></p> <h3>Provide a connected experience both on and offline</h3> <p>While consumers value technology-enabled interactions, 64% of people said they prefer engaging with a human being. </p> <p>In line with this, we’ve already seen many brands <a href="https://econsultancy.com/blog/68023-think-retail-how-brands-are-targeting-the-phygital-generation/">attempt to blend the physical and digital worlds</a>, using both to deliver inspiration and discovery.</p> <p>While ecommerce companies are most obviously suited to this, other industries can still take heed by focusing on a seamless experience across all touchpoints. </p> <p> <img src="https://assets.econsultancy.com/images/0007/7060/connected.PNG" alt="" width="600" height="509"></p> tag:econsultancy.com,2008:BlogPost/68048 2016-07-13T14:39:00+01:00 2016-07-13T14:39:00+01:00 Personal data and privacy in the digital healthcare age Lori Goldberg <p>In the past I’ve used NikeID, which communicates with a chip inside my sneakers to track my run data.</p> <p>Confession: I once attended a digital media conference and entered a contest to log the most steps on the conference floor. I tied my step-counting device to my ceiling fan and let it go all night.</p> <p>For some, there is concern that personal health data can be hacked, stolen, or exploited for marketing purposes without consent.  </p> <p>For those of us in the digital advertising sector, we have a responsibility to be clear about where our data comes from, consumer protection laws, as well as the benefits of advancing our health through data collection.</p> <p>Given this, below is a brief summary of how personal body data is being collected, protected, and used in the digital advertising sector today.</p> <h3>Current state of digital privacy</h3> <p>In terms of digital marketing, <a href="https://econsultancy.com/reports/healthcare-study-organizing-marketing-in-the-digital-age/">healthcare and pharmaceutical sectors</a> have long worked under state and federal laws to protect sensitive personal health information.</p> <p>For example, <a href="https://econsultancy.com/blog/67498-digital-media-vs-hipaa-violations-risking-your-reputation-in-healthcare/">HIPAA, the Health Insurance Portability and Accountability Act</a>, works to protect confidentiality of patients and control the flow and purpose of information used by insurers.</p> <p>Additional laws are in place that govern how and when healthcare providers can contact patients for the purpose of selling new drugs and treatments.</p> <p>These laws typically boil down to intent: is the marketer protecting the public from health risk, or are they trying to make money?</p> <p><img src="https://assets.econsultancy.com/images/0007/7028/fitbit.jpg" alt="" width="700" height="466"></p> <p>If there is a health risk to an identified class of patients, their personal information is more likely to be accessed.</p> <p>Additionally, Google and the Federal Drug Administration protect consumers with a thorough legal-medical review (LMR) process of each ad campaign.</p> <p>The privacy of your personal health information generated by apps and websites (also known as Patient Generated Data) is largely protected by HIPAA if the data is tied to a personal identifier, such as a user account associate.</p> <p>However, it is important to note that apps are developed around the world and enforcement of HIPAA policy is difficult unless complaints are filed.</p> <p>In fact, eHealth presents a new challenge for HIPAA. In 2015, the Office of the National Coordinator for Health Information Technology (ONC) and HIPAA began a two-year project to understand the sector and draft new policy on this matter.</p> <p>Until then, consumers should not quickly assume that app developers – particularly those outside the U.S. – are storing secure, HIPAA-compliant data.</p> <h3>Wearable tech</h3> <p>With the recent introduction of wearable technology and smartphone apps accessing our bodies, our personal body data is being trusted to technology companies and app developers who operate largely based on their own privacy terms and conditions.</p> <p>Companies such as Apple have vigorously protected consumer data, however many app providers are relatively anonymous to the general public.</p> <p>They are vulnerable to data breaches, hacks, and their own marketing principles.</p> <p>Apple’s HealthKit and Health apps collect health and fitness data including heart rate, calories burned, cholesterol, and blood sugar.</p> <p><img src="https://assets.econsultancy.com/images/0007/7029/fitbit_2.jpg" alt="" width="700" height="500"></p> <p>They also can connect with healthcare providers to share lab results, medications, and more. The insight provided makes a doctor more informed about the holistic status of one's health; however fears of data security persist.</p> <p>Many of the free apps available for download will earn revenue by selling your data, which could be associated with your account or user name identifier.</p> <p>According to the <a href="http://blogs.wsj.com/digits/2014/09/09/as-apple-moves-into-health-apps-what-happens-to-privacy/">Wall Street Journal</a>, “many of the roughly 40,000 health apps and wearable devices on the market today make money by selling user data to marketers and other companies.”</p> <h3>Epidemiological data</h3> <p>Epidemiological data is patient-anonymous data that allows the medical community as well as marketers to better track disease outbreak, rises in specific types of illnesses, and more.</p> <p>For example, <a href="http://thomsonreuters.com/en/products-services/pharma-life-sciences/pharma-business-development/incidence-and-prevalence-database.html">the Incidence &amp; Prevalence Database</a> covers over 4,500 diseases, procedures, symptoms and other health issues for incidence, prevalence, morbidity, mortality, comorbidity, treated or diagnosed rates, cost and much more.</p> <p>Forecasting tools such as this allow pharmaceutical advertisers to concentrate efforts in predicting illness patterns and making treatments marketed and available at the right time and place.</p> <h3>Personal genomics</h3> <p>Personal genomics through DNA sequencing provides your body’s genetic information for use in predictive forms of medicine.</p> <p>This could reveal genetic links to cancer, inherited predisposition to disease such as Alzheimer’s, or even help a doctor determine which medications will be most effective in treating your illness.</p> <p>DNA sequencing is available from popular online companies such as 23andMe, sequencing.com, and deCODE.me.</p> <p>Laws have been enacted in some U.S. states and by the federal government, such as the <a href="https://en.wikipedia.org/wiki/Genetic_Information_Nondiscrimination_Act">Genetic Information Nondiscrimination Act</a> (GINA) to protect citizens from being discriminated against based on their genetic profile.</p> <p>This information, if attained by an insurer or employer, may identify the person as a health risk or insurance risk.</p> <p>In summary, respected companies such as Apple will fight to keep personal health info safe, but the far reaches of its App Store reveal thousands of anonymous tech companies that are vulnerable to data breach and are perhaps willing to sell your information for profit in exchange for free apps.</p> <p>Google and the FDA work to regulate advertising claims among pharmaceutical companies and healthcare providers who partner with agencies schooled in LMR best practices.</p> <p>The upside of this data is in predictive medicine and personal insight into your health and fitness, which is a huge benefit for many people.</p> <p><em><strong>July is Data Month here at Econsultancy, so be sure to check out <a href="https://hello.econsultancy.com/datamonth/?utm_source=econsultancy&amp;utm_medium=blog&amp;utm_campaign=econblog">our latest reports and blog posts</a>.</strong></em></p> tag:econsultancy.com,2008:BlogPost/68052 2016-07-13T10:01:41+01:00 2016-07-13T10:01:41+01:00 What is predictive analytics and how could you use it? Ben Davis <h3>What is predictive analytics?</h3> <p>Predictive analytics is the use of models to predict future outcomes. In business and marketing, this entails the use data and statistics to stereotype customers.</p> <p>A user's profile and behaviours should allow companies to predict how that user will behave, by looking at the historic behaviour of other users.</p> <p>This means a company can change how it communicates with that user or discount them altogether, based on the user's propensity to undertake a particular action.</p> <p><a href="https://econsultancy.com/blog/64743-predictive-analytics-machine-learning-and-the-future-of-personalization/">Machine learning</a> continually refines a predictive analytics model as more data (such as the success of its outputs) is fed into it.</p> <p>It's a relatively simple concept but one that has many implementations. I've listed a few below.</p> <p>Much of this information is taken from our new <a href="https://econsultancy.com/reports/predictive-analytics-report/">Predictive Analytics Report</a>, published in association with Redeye as part of <a href="https://hello.econsultancy.com/datamonth/?utm_source=econsultancy&amp;utm_medium=blog&amp;utm_campaign=econblog">Data Month</a>.</p> <h3>How can I use predictive analytics? </h3> <p><strong>Credit scoring</strong></p> <p>Okay, this isn't a marketing implementation but it is one of the early uses of predictive analytics.</p> <p>Assigning a customer a credit score is a prediction of the likelihood of repayment.</p> <p>Increasing the accuracy of the prediction allows for more revenue to be made as fewer customers default.</p> <p><strong>Predicting customer lifetime value (CLV)</strong></p> <p>Predictive analytics can help to gauge the likelihood of repeat purchase or even CLV.</p> <p>Whilst a simple <a href="https://econsultancy.com/blog/64481-finding-your-best-customers-with-the-rfm-matrix/">RFM matrix</a> (recency, frequency, monetary value) is the basis of prioritising customers, so much more data is now collected by businesses (and available from third parties), that CLV can be based on much wider metrics.</p> <p><em>Predictive analytics greatly augments a simple RFM matrix</em></p> <p><img src="https://assets.econsultancy.com/images/resized/0004/5404/rfm_matrix-blog-full.png" alt="rfm matrix" width="450"></p> <p><strong>Estimating churn propensity</strong></p> <p>This is the other side of the CLV coin. Companies such as telcos want to know if customers are set to cancel their contracts or jump to another provider.</p> <p>Knowing this allows these companies to incentivise such customers to stay, and to forecast more accurately.</p> <p><strong>Targeting offers</strong></p> <p>This may be the most infamous example of predictive analytics in marketing and retail, thanks to the apocryphal (?) tale of a teenage girl being sent maternity offers by Target before her own father even suspected she was pregnant.</p> <p>Supermarkets that use loyalty cards have so much transactional data on their customers that they can create incremental revenue with targeted offers, encouraging more frequent shopping.</p> <p><img src="https://assets.econsultancy.com/images/0007/6934/Screen_Shot_2016-07-12_at_10.07.22.png" alt="target baby registry" width="400" height="248"></p> <p><strong>Display ad targeting</strong> </p> <p>Just like with 'old-fashioned' paper vouchers, programmatic advertisers want their display ads to achieve a high redemption rate (clickthrough and eventual conversion).</p> <p>Because programmatic advertising allows targeting by demographic and behaviour, predictive analytics can be used to optimise this targeting.</p> <p><strong>Lead scoring</strong></p> <p>An oldie but a goodie - ascertaining which of the leads delivered to your sales team should be prioritised.</p> <p>Where tech and data is being integrated and shared across Sales and Marketing, these departments <a href="https://econsultancy.com/blog/68047-the-sales-marketing-departments-why-how-they-should-merge">are working closer together to maximise efficiency</a>. </p> <p><strong>Sentiment analysis</strong></p> <p>Analysing reviews, social media commentary, call centre scripts etc. can allow companies to produce sentiment analyses which in turn can be used to suggest improvements to communications.</p> <p><strong>Recommendations</strong></p> <p>30% of Amazon revenue reportedly comes from its recommendation engine (various sources).</p> <p>Netflix and Spotify generate vast engagement through recommending content. This is all predictive analytics.</p> <p><img src="https://assets.econsultancy.com/images/0007/6935/Screen_Shot_2016-07-12_at_10.09.30.png" alt="amazon recommendations" width="500"></p> <p><strong>Optimising PPC campaigns</strong></p> <p>How does <a href="https://econsultancy.com/blog/67422-how-argos-models-ppc-on-tv-weather-seasonality/">the weather affect clickthrough rate</a> might be one question to ask.</p> <p>There are, of course, many other variables that affect keyword volume, clickthrough and conversions, which can be optimised for. </p> <p><strong>Forecasting inventory</strong></p> <p>For big retailers and manufacturers, being able to forecast demand and therefore also the requisite inventory will prevent popular items from selling out and impacting revenue.</p> <p><strong>Segmentation</strong></p> <p>A broad area of predictive analytics which encapsulates many of the other examples in this post.</p> <p>When predictive analytics is plugged into <a href="https://econsultancy.com/blog/64545-what-is-crm-and-why-do-you-need-it/">CRM</a> and marketing automation tools it helps to divide up your audience into segments, to which tailored messages can be delivered.</p> <h3>How do I implement predictive analytics?</h3> <p>Traditionally, the big beasts of IBM, SAS and SAP have provided predictive analytics solutions.</p> <p>However, it's now hard to find a big marketing tech vendor that doesn't include this type of functionality in some of its products (e.g. Adobe).</p> <p>There are also relatively new, dedicated software-as-a-service solutions available (e.g. Mintigo) that plug in to popular CRM and marketing automation platforms.</p> <p>As for how an organisation goes about implementing these solutions, the tale is a familiar story, one of aligning data sources, tech platforms and ultimately changing organisational culture.</p> <p>Econsultancy's <a href="https://econsultancy.com/reports/predictive-analytics-report/">Predictive Analytics report</a> looks at challenges for organisations in this area and includes a simple maturity framework showing where companies need to get to.</p> tag:econsultancy.com,2008:BlogPost/68054 2016-07-12T11:55:00+01:00 2016-07-12T11:55:00+01:00 Pat Symonds, CTO of Williams, on why VR will shape the future fan experience of F1 Nikki Gilliland <p>On a recent trip to Silverstone, I sat down with Pat to get his views on the topics of data and tech within the sport. </p> <p>Surprisingly, he wasn’t too precious about data being the property of those behind the scenes of Williams.</p> <blockquote> <p>At the moment, we have the data… We’re the ones looking at it as the drivers go around the track.</p> <p>A lot of it is too sophisticated or complex to be easily understood, but as faster data transmission happens, I think it’ll be completely natural for fans to gain access - to log on to a car and see everything that’s going on.</p> </blockquote> <p>Accessing data might be an exciting prospect for an existing and dedicated audience – but what about enticing new fans to Formula One?</p> <p>Could gaming be the next step?</p> <blockquote> <p>Even further, the ultimate will be having a virtual race where you can compete with the guys at Silverstone. To my mind, that scenario is not that far away.</p> <p>We use simulators to develop our cars, and while they cost millions at the moment… home simulators are definitely coming.</p> <p>In a few years, the average games machine will be a VR machine.</p> </blockquote> <p>Pat’s passion for technology is evident. However, with a lot of criticism about tech taking away from the sport, i.e. reducing the influence of the driver on a race, I also asked – is there such a thing as too much technology? </p> <p>Apparently, the answer all depends on how you view Formula One.</p> <p>Is it a business, a sport, or merely entertainment?</p> <blockquote> <p>In my view, Formula One's most important function is as entertainment. And people are entertained in different ways. Some, like me, love technology.</p> <p>I think it’s what gives cars their incredible performance… We need to recognise that technology has set the bar for Formula One. </p> <p>But of course, balance is key, and we mustn’t do it for the sake of it. The pit-stop is amazing for fans, but it shouldn’t be the only reason to watch.</p> </blockquote> <p><img src="https://assets.econsultancy.com/images/0007/6912/silverstone.jpg" alt="" width="780" height="430"></p> <p>Interestingly enough, one thing Pat agreed on was that Formula One (and Silverstone specifically) is far too exclusive.</p> <p>From getting tickets to even getting into the grounds, it’s all a bit too ‘VIP’.</p> <p>For those watching, it's worlds away from the weekly ritual of supporting a football or rugby team.</p> <blockquote> <p>Formula One needs to be visual, simple, short. I don’t know why we race for 300km, that’s way too long.</p> <p>If we could get it over within 45 minutes, that’d be optimum. Like a football game – fans don’t want to wait around when they could be enjoying a pie and a pint.</p> <p>We’ve tried to be too exclusive… It’s not easy to get into Silverstone and that’s a great shame. Not just physically, but in a virtual sense.</p> </blockquote> <p>Having <a href="http://www.pocket-lint.com/news/137077-new-sky-vr-studio-kicks-off-with-team-williams-f1-vr-experience-you-can-watch-online">recently teamed up with Sky</a> to produce a number of videos, it appears Williams is already trying to enter virtual territory. </p> <p>While some argue that 360-degree videos are rather basic, and still worlds away from the fully immersive style of <a href="https://econsultancy.com/reports/a-marketers-guide-to-virtual-reality/">virtual reality</a>, it does back up Pat's desire to bring the fans closer.</p> tag:econsultancy.com,2008:BlogPost/68039 2016-07-12T10:01:00+01:00 2016-07-12T10:01:00+01:00 What is B2B account-based marketing & why should you care? Nikki Gilliland <p>In line with this growing trend, here’s a basic run-down of ABM, as well as a few reasons why B2B marketers could benefit from using it in future.</p> <h3>What is ABM?</h3> <p>In a nutshell, account-based marketing is used to identify and target a key set of accounts, using personalised and highly tailored campaigns to generate leads.</p> <p>It is based on the assumption that B2B buying decisions are usually made by a select group of people rather than a single person.</p> <p>Targeting the core decision-makers (through IP addresses) should bring a greater chance of success.</p> <p>Ultimately, it’s all about delivering a relevant message to the most relevant people within a company, and it utilises new technology in order to do so.</p> <h3>How does it work?</h3> <p>There are many software-as-a-service account-based marketing systems out there, as well as those that are able integrate with existing platforms. </p> <p>Most will be able to identify and manage data and offer the tools to deliver personalised campaigns.</p> <p>For smaller companies, this is one of the biggest limitations, as it means investing in new technology as well as ensuring that employees have the relevant skills to use it.</p> <h3>What does it offer?</h3> <h4>Social data insight</h4> <p>An important part of the accounts-based model, social data allows marketers to get under the skin of potential clients and find out what really matters to them.</p> <p>With insight into company updates and general topics of conversation, marketers can greater personalise messages and tailor offers accordingly.</p> <h4>Direct conversation</h4> <p>As well as providing the platform for personalisation, ABM allows for much more frequent one-to-one communication.</p> <p>Whether it’s an email or follow up phone call, its direct nature means that there is the opportunity for relationships to form rather than just a one-sided sales pitch.</p> <h4>Retargeting</h4> <p>The always-on approach of ABM means that marketers can target companies that have gotten lost along the way.</p> <p>By retargeting at crucial moments – such as when an account is browsing a specific website or displaying buying signals – clients are much more likely to respond.</p> <p>By using IP addresses instead of cookies, a specific account or group of accounts can be simultaneously targeted.</p> <h3><img src="https://assets.econsultancy.com/images/0007/6798/B2B_account_based.jpg" alt="" width="780" height="520"></h3> <h3>What are the biggest benefits for B2B marketers?</h3> <h4>No more dead-ends</h4> <p>With ABM, marketers are free to prioritise the most important projects.</p> <p>Instead of flogging a dead-horse, they will be able to determine ahead of time who is the worthiest target. This creates a more streamlined strategy and a great targeted approach.</p> <h4>Alignment of sales and marketing</h4> <p>One of the biggest benefits of ABM is its ability to break down the barriers between sales and marketing teams.</p> <p>The process can only work if both teams work together (as well as get on board with each other’s way of thinking). </p> <p>Usually, it is the marketers' job to identify and satisfy customer requirements, and up to sales to persuade customers to close the deal.</p> <p>However, with marketers getting closer to the point-of-purchase commitment, and sales reaching into earlier stages of the process, the traditional rules no longer apply.</p> <p>Even without ABM, the changing customer journey means there is a growing need for integration between the two teams.</p> <p>As highlighted in Econsultancy's new <a href="https://econsultancy.com/reports/the-convergence-of-marketing-and-sales/">Convergence of Marketing and Sales</a> report, with the customer's own online research driving much of the decision-making, there is no need to speak to different teams at different times.</p> <p>Instead of a traditional funnel, a single evolving conversation with the vendor is much more typical of the path to purchase.</p> <h4><strong>Increase in revenue</strong></h4> <p><a href="http://www.forbes.com/sites/danielnewman/2016/04/29/why-b2b-cmos-need-to-know-about-account-based-marketing/#65cd614c4d3e">According the recent stats</a>, 80% of marketers say AMB outperforms all other marketing channels in terms of ROI. </p> <p>What’s more, when ABM has been in use for at least a year, 60% of users reported a revenue increase of at least 10% &amp; 19% reported a revenue impact of 30% or greater.</p> <p>This certainly shows what a valuable tool it can be, and as the technology becomes even smarter, this only looks set to continue.</p> <p><img src="https://assets.econsultancy.com/images/0007/6799/B2B_sales.jpg" alt="" width="780" height="520"></p> <h4>Continual optimisation</h4> <p>One of the best things about ABM is that it can potentially enable marketers to get instant results.</p> <p>This means that as soon as the data is analysed, campaigns can be altered accordingly, and strategy can continously be tweaked and improved.</p> <h3>So…</h3> <p>With personalisation a growing focus for businesses of all kinds, it was only a matter of time before B2B companies realised its potential.</p> <p>Of course, account-based marketing does not spell the end for inbound and outbound marketing, but with greater relevance to the individual client, there’s a reason it is the buzzword on every B2B marketer's lips.</p> tag:econsultancy.com,2008:BlogPost/68035 2016-07-12T01:00:00+01:00 2016-07-12T01:00:00+01:00 How to maximise the impact of sponsored social posts: APAC case study Jeff Rajeck <p>Most sensible brand marketers, however, aren't that hasty. Instead, they usually hold back and wait to see what happens with the post before putting money on it.</p> <p>And they do this because judging content ahead of time is tricky.  </p> <p>Sometimes the strangest posts take off on their own, organically, whereas other times great ones go nowhere, even when sponsored.</p> <p>But how can we do better than that? How can we have some idea in advance what content is going to be worth promoting?</p> <p><img src="https://assets.econsultancy.com/images/0007/6790/boost.png" alt="" width="400" height="212"></p> <h3>Learning to boost</h3> <p>Well, one of the best ways to learn when to pull the 'boost' trigger is by looking at past performance. Find out what did well previously, and do it again.</p> <p>Of course. But what if there doesn't seem to be a pattern, or there just isn't enough data?</p> <p>Then the obvious solution is to look at what other brands are posting. See what is taking off on social media for them and then rework your content using their successful posts as a template.</p> <h3>Social media analytics</h3> <p>At its simplest, social media analytics can be carried out by looking at a few Facebook pages or Twitter accounts.</p> <p>Once you have gone through a few pages though, it becomes apparent that it is quite difficult to get all the data you need to draw conclusions.</p> <p>Luckily there are tools which are designed to help you. One which I use regularly for this sort of social media analysis is <a href="http://www.socialbakers.com/">SocialBakers</a>.</p> <p>Using social media analytics you can: </p> <ul> <li>Find brands in your industry that post a lot and have significant engagement.</li> <li>Surf through the brands' posts to get ideas.</li> <li>See if the brands' sponsored posts are performing better than organic.</li> </ul> <p>The last part is hard to do without some help as sponsored posts are not obviously tagged as such on the company's page.</p> <p>To give some idea of what I mean by social analytics, let's go through a couple of social media posts from a bank in South-East Asia.</p> <h3>Krungsri Simple: Organic</h3> <h4>Background</h4> <p>Krungsri Simple is a consumer bank based in Thailand. Its marketers are very active on Facebook and update the brand page around 100 times every month. </p> <p>The team has been very successful in attracting fans as well and now have over 1m page likes. In short, a great candidate for social media analytics.</p> <h4>The data</h4> <p>From the data, we can see that the bank puts most of its effort into organic posts. Over 90% of its posts from the last 365 days were identified as organic.</p> <p><img src="https://assets.econsultancy.com/images/0007/6791/1.png" alt="" width="400" height="319"></p> <h4>So, what's working for the brand, organically?</h4> <p>Looking at a number of posts, it seems that the bank's most successful social media tactic is to ask its fans to like, share, and comment on a post in return for a small prize. </p> <p>The point of these posts is to encourage its audience to share the brand's messaging with friends while at the same time engaging with the post.</p> <p>This serves the dual purpose of raising awareness as well as deepening the relationship between the brand and its fans.</p> <h4>Example</h4> <p>One example of this tactic is a recent post which offers fans a chance to win one of 20 Starbucks cards worth 100 Thai baht (around $3 each, $60 in total).</p> <p><img src="https://assets.econsultancy.com/images/0007/6792/2.png" alt="" width="800" height="440"></p> <p>In order to enter the competition, fans are required to: </p> <ol> <li>Like and share the post.</li> <li>Guess the right entrance point to a simple maze.</li> <li>Tag one additional friend.</li> </ol> <p>Sounds like a lot to do for a $3 card, but the response has been tremendous. The bank received over 1,000 shares and had over 1,000 comments just from this post.</p> <p>(By the way, asking for 'likes' and shares in this way used to be discouraged by Facebook, but <a href="https://www.facebook.com/help/513248435437336">Facebook seems to have reversed that policy</a>.)</p> <p>So, keeping in mind that the team only spent $60 on the prize, the post has performed very well. Even the most interesting content would struggle to get that level of response for that price. </p> <h4>Lessons</h4> <p>It's clear from the results that Krungsri Simple is on to something here. The marketers have found that the brand's Thai audience is willing to go to great lengths to enter a contest.</p> <p>Because of this, they can 'buy' more engagement with a few Starbucks cards than they can do through using sponsored posts.</p> <p>So the lesson from these analytics is that <strong>it is still possible to get great reach and engagement organically.</strong> And if you can find this, then you don't need to sponsor the posts.</p> <p>Do note, however, that each and every entry had a response from the bank's social media team. This campaign clearly required a lot of human effort, too.</p> <h3>Krungsri Simple: Sponsored</h3> <h4>Background</h4> <p>Another thing to look at is whether organic or sponsored (promoted) posts had more engagement.  </p> <p><img src="https://assets.econsultancy.com/images/0007/6795/3.png" alt="" width="400" height="279"></p> <p>Looking at the share of interactions over the past year for Krungsri Simple, we see that organic accounted for less than half of likes, shares, and comments.  </p> <p>This is interesting as, remember, more than 90% of the brand's posts were not sponsored (organic).</p> <p>So most of the engagement was with sponsored posts, even though these posts only represented around 6% of the brand's posts in total.</p> <h4>So how do they do so well with sponsored posts?</h4> <p>Looking at a few examples, it seems that there is a pattern. Krungsri Simple regularly sponsors posts which feature new products such as credit cards.</p> <p>Then, once sponsored, the posts act as a way for customers to ask questions via the comments.  </p> <p>The bank's social media managers answer these questions to help customers get a better understanding of the product on offer.</p> <h4>Example</h4> <p>One <a href="https://www.facebook.com/KrungsriSimple/posts/908532519195409:0">recent post</a> was for a credit card with 16% cash back. Though the translation isn't perfect, it's clear that the cashback has some terms and conditions.</p> <p><img src="https://assets.econsultancy.com/images/0007/6796/4.png" alt="" width="800" height="438"></p> <p>In the post's comments it seems that customers have a few questions about the card - and how to make sure that they get the cashback.  </p> <p>Each question is then answered in detail by the bank's social media team in the public comments, with some responses turning into a long conversation thread.</p> <h4>Lessons</h4> <p>Krungsri Simple has found that social media works very well for launching a new product.  The team posts up the product details and then sponsors the post to reach a very large audience.</p> <p>However, the marketers also seem to have found, probably through trial-and-error, that product posts attract a lot of questions.  </p> <p>Each question, though, is an opportunity for the marketers to explain the product in more detail to the customer, and indeed other interested people.  </p> <p>Answering questions in detail shows off the company's customer service skills, as well.</p> <p>So, the takeaway from this campaign is that<strong> Facebook sponsored posts not only give a brand extra reach, but also provide an opportunity for its marketers to engage with new and existing customers on a deeper level.</strong></p> <p>Doing so requires a social media/customer service team dedicated to responding, though, as unanswered questions would almost certainly make the brand look worse.</p> <h3>So...</h3> <p>So how can a social media manager sponsor posts like a boss?</p> <p>A great place to start is by looking at what other brands are doing and learning from their example.</p> <p>And while it is possible to do this on your own, using a tool like SocialBakers makes the job easier. It can help you identify the brands worth watching, research posts with high engagement, and distinguish organic superstars from sponsored posts.</p> <p>Of course you will have to adapt any tactics you discover to fit your brand. What works for another company will almost certainly not work for yours.</p> <p>But identifying tactics which engage fans and knowing how to execute them properly is certainly the first step to social media boss-ness.</p> <p><img src="https://assets.econsultancy.com/images/0007/6797/boss.png" alt="" width="300" height="150"></p>