One month and counting for this years MIMA Summit – hope you are as excited as we are!Â This week we are featuring thoughts from our morning keynote Avinash Kaushik is the co-Founder of Market Motive Inc and the Digital Marketing Evangelist for Google.Â For those that have not had the pleasure of attending one of his presentations, get ready on October 12th to become an analytics evangelist and much more.
This yearâ€™s summit is focused on the embracing the digital decade, what would you say was the greatest achievement in the last ten years of marketing?
Our ability to have deeper, more meaningful, relationships with our current and potential customers.
In the past most companies were a few steps removed from the consumer. Partly due to a lack of connectivity platforms. Partly because of intermediaries. Partly because of, frankly, a lack of interest.
The web changes all that. I can be P&G and I can have an existence were I can have a direct relationship with consumers. Speak to them. Listen to them. Engage them in marketing / experimentation / everything. I can learn and react and grow so much faster, and be more relevant.
This brings about very disruptive change to our marketing, people, processes, everything. But all of it, I think, for good. And I’m excited about the possibilities.
Oh and I love that the digital decade’s brought with is tons of cool gadgets. I love ‘em all!
Youâ€™ve been blogging for over five years, do you have any inspirational words for the next generation of bloggers?
Do it. Put yourself out there. Forget your resume, do the work and show that you know what you are taking about.
I recently wrote a blog post on the impact of five years of blogging on me. You’ll find it here: An Incredible Analytics Experience: 5 Years of Occamâ€™s Razor (link: http://www.kaushik.net/avinash/incredible-analytics-experience-5-years-occams-razor/ ). It outlines my learnings and surprises.
The biggest surprise was the ability to manage one’s brand. Checkout the two tag clouds in that post.
A bit of practical advice I would share with any new blogger (or Social Media participant in a professional capacity) would be this: Quality wins over quantity. Every time. Never hit Submit (or Post or Tweet or +1) unless what you are about to share meets this simple rule: It is something incredible, relevant, of value?
You are the co-founder of Market Motive, how do you think traditional education will change in the next ten years?
The core reason for starting Market Motive was that at the moment the traditional education path does not prepare a student to be successful in the digital ecosystem. Be it in fields like Web Analytics and Search Engine Marketing or evolved fields such as Online PR and Social Media. We bring together the best of the best in the world and create a curriculum that can help jump start anyone’s digital career.
That is the problem our traditional education paths will have to solve. How to teach when books become stale as soon as they are published (not classical mathematical technique books – wonderful, still relevant, must learn stuff, rather for our digital eco system)? How to teach kids emerging programming techniques being requested in bleeding edge jobs – well before they become mainstream and “cool”? How to complement tenured faculty with Subject Matter Experts who have zero “teacher training” or credentials? Â How to ensure that a student’s education delivers a balanced mix of traditional and bleeding edge skills?
Hard problems to solve. Universities and colleges are going to have to evolve, perhaps faster and more radically than they might be comfortable with.
In your consulting practice, what are the biggest analytic mistakes you see over and over?
Second, more painful mistake, a lack of any connection between data analysis and business strategy. I am a rabid advocate of using processes like the Web Analytics Measurement Model and having a crystal clear understanding of what one is solving for, before touching the data. If you know where you are going, it is much easier to get there and everybody is happy!
This week, I was at dinner with some top notch experienced digital marketers and the topic of attribution reporting came up; many want this nirvana of reporting but feel it is unattainable without a great resource investment. Â With your ability to simplify complex analytics can you offer a line of hope?
We have an ever growing number of media channels to reach our consumers and bring success to our business. So the desire to understand which activity is productive, and which parts stink, is super important.
There are a number of ways to skin this cat.
One path people take is to try and look at the end of a transaction, figure out all the prior media touch points, and then use some logical reasoning to attach some value to each media touch point (a banner ad, a search query, a direct visit etc). The challenge with this path is that there is no right answer, and it is very hard to figure out when one is wrong (!).
An alternative path is to use the glorious path of controlled experiments. Media Mix Modeling, for example, does not require the almost futile quest to “attribute credit.” Rather it says regardless of the last touch point prior to a transaction, what’s the optimal mix of media that delivers the highest possible number of transactions at the lowest possible cost. I believe solutions like this are the best way to solve our problem.
It is a harder way to solve the problem (hence few will attempt it – all the more reason you should do it!), but it delivers delightfully yummy results.
Learn more about Avinash Kaushik and analytics by visiting his blog Occam’s Razor.Â Avinash will be kicking offÂ the MIMA summit with his morning keynote, if you want to see him register for this yearâ€™s event.Avinash at the MIMA Summit Avinash on Occam’s Razor Blog or on twitter @avinash
Get Your Tickets for the 2011 Summit
A special thanks to Jill Gutterman, a MIMA board member, for hosting this interview. Jill, is a Director of Interactive Marketing at Rasmussen College and a MIMA Board Director. Jill Guttermanâ€™s philosophy in life is simple: Have passion for what you do and keep learning. Itâ€™s this philosophy that has been a driving force behind Jillâ€™s forward-thinking 12 year professional career in digital marketing. Jill graduated magna cum laude from Wright State University, in Dayton, OH with a degree in psychology.