The marketing world has greatly evolved over the past few decades, and this is why large portions of advertising budgets now go directly towards digital marketing. As with all forms of marketing though, these types of campaigns are only successful when actionable insights can be garnered.
That’s where LatentView Analytics comes in.
LatentView Analytics provides its customers with actionable insights from digital data, which helps create brands, products, and services that engage with customers across touch points.
The company works with industry giants like Cisco, Paypal, and Microsoft, and they’re one of the fastest growing data analytics companies in the world.
For this interview, we got a chance to sit down with Krishnan Venkata, their West Coast division vice president.
During our interview, we learned how companies can benefit from improved data-driven strategies.
1: What does LatentView Analytics solve for marketers?
The goal of any marketing strategy is to create a brand that consumers want to engage with.
Due to increased competition for attracting your customer’s attention, companies without informed marketing strategies will not have the impact needed to be seen as an industry leader.
This is the problem LatentView Analytics solves for marketers.
By providing and focusing on actionable insights, we’re able to better understand target audiences.
Using this information, we can improve the effectiveness of a faltering campaign and reach out to market segments a company may have never considered.
2: Why did you decide to partner with LiveRamp?
LiveRamp specializes in connecting the dots across different customer interactions, which is a natural complement to our offerings.
Using this data, we can help marketers view digital data holistically, increase their sales and efficiency, and deliver relevant marketing messages for each consumer.
For example, one of the biggest challenges in marketing is connecting the dots across customer interactions.
LiveRamp enables us to connect data from disparate sources to help give a more holistic view and create digital campaigns with amazing returns.
This, in turn, allows us to create digital marketing campaigns that maximize returns, intelligently target customers, and engage across the entire customer journey.
3. What can marketers expect from your measurement offering?
LiveRamp handles data management and integration efficiently while we provide marketers with campaign measurement, cross-channel attribution, audience portraits and targeting, site analytics, and optimization.
Our measurement offering provides marketers with a more accurate, unified view of customers, and our data analysis leads to deeper consumer insights and better marketing decisions.
4: What skill set is most vital for data-driven marketers today?
The most vital skill is the ability to analyze large amounts of data from disparate sources and identify the unique analytic approaches that will make a business successful.
These approaches will vary by company, but they cannot be determined until business goals are clearly identified and understood.
5: Which recent developments have had the biggest impact on our industry?
Leveraging external data is a key development that has the biggest impact in analytics.
Around 2009, consumer brands started really warming up to the idea that they could glean valuable information from the unstructured data in social conversations. This resulted in a significant opportunity for data scientists.
Combining this unstructured data with traditional analytics has enabled marketers to derive meaningful insights that previously wouldn’t have been possible.
The bottom line:
Informed marketing strategies begin with great measurement.
Be sure you are providing your customers with the relevant and enjoyable experience they expect.