V. Advertising or direct marketing agency.
Advertising agencies over the past few decades have increasingly developed expertise in database marketing, especially those agencies who consider the entire gamut of marketing communications part of their service delivery. Here are a few questions to ask of your advertising or direct marketing agency to see if they are up to the task:
- How are you positioned to support the strategy and implementation of a database marketing design for my company?
- How would you approach the problem?
- What department or individuals within your firm have this expertise?
- What references do you have of companies our size and in our industry?
VI. Analytics consulting agency or analytics consultants.
The rise in big data has seen a host of analytics consultancies pop on the scene. Many of these were founded by individuals with expertise in statistics that have learned to apply their craft to marketing situations. The agencies vary in size and often specialize in particular statistical problems such as pricing, propensity, or product analytics. Ask these key questions:
- What is your area of expertise? How are you qualified for marketing analytics?
- What references do you have? In this industry? With companies our size?
- What was the outcome of the analytics provided? How were these outcomes measured?
- Will you share your statistical models? For example, will you tell us which variables are most predictive? Or are your models proprietary?
No matter what resource you choose to help with the various data challenges you face, remember that the No. 1 quality you are looking for in a resource is integrity. Choose wisely.
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