Principle Econometrician (Marketing Effectiveness)
Manchester, Greater Manchester / £55000 - £65000
£55000 - £65000
Manchester, Greater Manchester
£55,000 - 65,000
Lead on the development and delivery of Marketing Mix Modelling within an innovative, data driven agency working with a range of retail clients!
A leading global agency who specialise in providing data driven marketing solutions across the globe. With flexible working options, opportunities for progression and clear leadership pathways this is a great place to develop your career!
As the Principle Econometrician your focus will be to lead the development and delivery of Marketing Mix Modelling (MMM), specifically you will have to:
- Lead a team of 2 and liaise with clients to understand the needs of the task and build clear roadmaps to achieve them
- Delivering MMM solutions to optimise media spend, using statistical analysis and data modelling to use data from a wide range of sources
- Identify trends within data through SQL or Python, building models to assess marketing effectiveness
- Always look to build capabilities within the MMM being innovative and progressive in your strategies
The successful candidate will have the following skills and experience:
- Previously have built or tested econometric models and have an understanding of forecasting
- Strong SQL and Python to query vast sets of data
- Great communicator and able to convey complicated technical terms in digestible language
£55,000 - 65,000 annual salary, flexible working and competitive benefits.
HOW TO APPLY
Please register your interest by sending your CV to Gerard Matthews via the apply link on this page.
Econometrics, Marketing Effectiveness, MMM, Marketing Mix Modelling, Python, SQL, R, predictive models, forecasting, marketing analytics, affiliate marketing analytics, data analytics, data science, marketing data science
Why Should You Care About Data-Driven Marketing? | Harnham Recruitment post
Marketing has been undergoing a fundamental change for some time. Elite marketers have been rethinking and reiterating their strategies, using increasingly sophisticated data. and this trend has been further accelerated by the pandemic.Consumer behaviour has changed significantly since the pandemic began. Between March and August 2020, 70 per cent of consumers tried new digital shopping channels. Such significant changes have rendered many existing data models invalid. Data-driven marketing offers new insights into consumer behaviour and can render huge impacts in refining and enhancing marketing strategies. So, why should you care about data-driven marketing? Offers better clarity about the target audience 67 per cent of lead marketers agree data-based decisions beat gut instinct. Data-driven marketing allows marketers to quickly filter through data and determine the most relevant and accurate action to take. With the right data, marketers can assess customer data to predict behaviours, identify buying patterns and spot emerging trends. Data-driven marketing can also reveal new channels and open up new avenues which organisations can use to engage with audiences and increase revenue. Increases revenue The last 18 months have been tough for businesses, yet through the use of data insight, marketing teams have been able to get ahead of emerging trends. Data-driven campaigns have pushed significant customer acquisition. Better insight into consumers and the channels they use enables organisations to improve their marketing strategy. Indeed, companies that deploy data-driven marketing are six times more likely to remain profitable year-over-year, and 78 per cent of organisations agree that data-driven marketing increases customer acquisition.PersonalisationIn the modern world, advertising is everywhere, and it is endless; consumers see it on their phone, their TV and even on their way to work. Without target advertising campaigns, organisations risk aggravating consumers. 74 per cent of customers already feel frustrated by seeing irrelevant content from brands. To stand out, marketing channels have become more complex. Marketers need to remain creative to capture consumers attention and data driven marketing can help achieve this.Data-driven marketing allows businesses to target specific demographics and user groups at an individual level. By targeting specific user groups at an individual level, marketers are able to use personalised marketing campaigns to build stronger and more meaningful connections with potential customers.With individual customer information, brands can segment a target market and ensure personalised messages are falling into the right place. Data-driven marketing is also able to identify potential customer triggers and create a holistic view of the target audience. This style of personalised marketing campaign makes for a more positive customer experience, and therefore represents excellent return on investment.Data has the potential to become an incredibly valuable resource in marketing. Data soothes the pain points which many marketers face on a day-to-day basis, and help teams to refine, enhance and improve strategy. In a post-pandemic world, data-driven marketing will undoubtedly be essential. To stay competitive, internal marketing and insight teams need to start taking notice of data-driven marketing. Here at Harnham, we understand the importance of data-driven marketing to determined campaigns and guide decisions. So, if you’re looking for your next opportunity or to build your Marketing & Insights team, we can help. Take a look at our latest marketing and insights jobs or get in touch with one of our expert consultants to find out more.
Why Marketing Teams Need to Fill Their Data Skills Gaps
Data can be leveraged in a myriad of ways and be beneficial to numerous business functions.
In marketing, for example, data is playing an increasingly important role in helping brands get closer to their target customers, which ultimately improves the bottom line. Businesses that use data-driven marketing strategies have five times more ROI than those that don’t.
Despite this potential, a new survey has revealed that data analytics is one of the biggest skills gaps in marketing departments. Below, we break down this new research and explain why it’s crucial to fill your company’s data skills gap and build a data-driven marketing team.
So why does this skills gap matter?
The recent research revealed more than a third (34.4%) of the 3,000-plus respondents identified a lack of data analytic skills in their marketing department. For B2B marketers, the figure drops to 29.9 per cent, while it’s 34.6 per cent for B2C marketers, and jumps to 39.6 per cent for businesses with a mix of both.
These findings are particularly pertinent as marketing isn’t a department that operates within a bubble, rather it has its tendrils in every part of an organisation, so when marketing isn’t functioning as optimally as possible, neither is the business.
Businesses that are not harnessing the insights that data analysis offers, are missing out on the ability to understand and meet their customer’s preferences. Making decisions that are not grounded in data means that a business is operating in the dark – throwing ideas at the wall to see what sticks rather than already knowing what will work because the data has told them so.
Many companies have realised that it’s no longer good enough to guess what customers might want or need from a product or service, but to instead have hard evidence to back up these choices. A data-led marketing strategy can revolutionise marketing efforts in numerous ways such as:
Behaviour analysis and personalisation
By analysing a customer’s behaviour, such as their e-commerce and website browsing habits, marketers can ensure that the businesses’ landing pages, calls to action and other marketing tools are working as they should be, and use this data to better tailor content and improve the customer experience.
Behaviour analysis might include examining customer interactions, such as where and when they click on a website, even down to which pages consumers are lingering on for longer. The content you are producing might be incredibly insightful and smart, but that’s irrelevant if customers aren’t reading it. Once you have understood where people do and don’t spend time and which content attracts the most engagement, assets can be shaped to scoop up people who might otherwise leave a site, further entice already interested parties and inform other marketing activities.
For example, if you’re a business that sells clothes, you can use data analytics to determine which colours and styles are most popular among your customers and create content such as fashion tips or trend reports including these colours and styles.
Through monitoring the current behaviour of customers, businesses can also more easily identify when and how their preferences change. For example, if visitors to written pieces are dropping off, you could consider incorporating more video content. Reacting to the subtle changes in customer behaviour can help companies to maintain their position in the market and increase their revenue by tapping into new pools of customers.
Predicting customer patterns
But data isn’t just for making better in-the-moment decisions. It can also help to pre-empt future customer behaviour, allowing businesses to make proactive decisions based on previous trends, rather than acting reactively.
Predictive analytics is the use of data algorithms and techniques to define the likelihood of future events or results, based on historical data from customer habits. It allows marketers to forecast a customer’s “next move”, such as which consumers are most likely to buy again, and therefore prioritise customers.
Based on previous patterns of behaviour, businesses can predict website engagement points where, for example, a customer may convert, but also areas where consumers might lose interest or drop off – friction points such as filling in a form. This information enables businesses to make choices that ensure that the customer experience is as smooth and effective as possible.
How can this skills gap be filled?
The effectiveness of data analysis is dependent on talent being able to carry it out. At Harnham, we specialise in data hires for marketing. In other words, through experience, our consultants have built a comprehensive picture of what marketing teams need when it comes to data marketing talent. When it comes to hiring a data marketing professional there are a wealth of skills to look for, including:
- Being a problem solver – a candidate who can identify logical ways to overcome problems and offer solutions.
- Having a good grounding in coding languages such as SQL. Whilst it can be beneficial to have more advanced modelling skills using R or Python, some companies will have data science teams to support on this side.
- Experience with visualisation tools and with programs such as Tableau or Looker – which can be hugely valuable in hitting the ground running.
Most crucial, however, is the ability to tell a story with the data and make something complex easy to digest. During an interview, businesses can identify how someone translates recommendations and if they are able to recognise and illustrate the commercial impact that their work will have.
If you’re interested in applying your data skills to a role in marketing or are looking to bolster the success of your business by hiring a Data & Analytics specialist, you’ve come to the right place contact our team today.
Six Tips on How to Create a Data-Driven Marketing Strategy
Six tips on how to create a data-driven marketing strategy
Data-driven marketing is an approach businesses can use to maximise their communication and visibility through the use of data.
Thanks to the rise of e-commerce, consumer patterns, habits, and trends are now easily trackable. The massive amount of data that is recorded from a customer journey allows companies to segment users and target them effectively.
Essentially, data helps companies understand their customer better. And if you know your customer, you are halfway to targeting them and hopefully, converting them into a sale. Data-driven marketing has opened up a world of possibilities for marketers. Here are a few tips on how to harness that potential.
It’s crucial to personalise the customer experience. With data-driven marketing, consumer information allows you to gain an in-depth understanding of your audience, and tailor their experience based on their preferences. The greater the understanding, the stronger the relationship and in turn, greater success.
Utilise real-time data
Real-time data and current analytics can help your business respond to customer needs and preferences, and even anticipate your customer’s needs.
Giving potential leads what they want, exactly when they are looking for it, simplifies their experience with your company, and creates a positive customer-company relationship.
Use technology to measure data
Embracing technology and automation wherever possible will speed up and improve time-intensive processes, such as measuring and optimising a customer’s lifetime value. This is a far more beneficial exercise than simply focusing on the ‘quick wins’ of short-term sales or conversions.
Chatbots and virtual assistants
The use of voice and visual search, chatbots, and virtual assistants can give businesses the opportunity to interact with customers in a more authentic and intuitive way. They offer information efficiently and will be able to provide many of the answers that a customer is looking for.
Utilising multiple sources such as social media, email, and your website will help you to build a unified view of the customer and inform your decision-making. Each platform can attract a different audience, and this allows data marketers to tailor their content to consumer preferences. If you can present a solution to your audience, they will feel like the content has been made for them.
Potential challenges and how to avoid them
While data-driven marketing has huge potential, there are a few pitfalls and challenges you may encounter when building out your strategy.
For starters, collecting data from each platform you use can be time-consuming and tedious if done manually. To mitigate this, it’s essential to implement innovative analytics software, which can help you process your data and guarantee accuracy.
Once you have gathered the data, it needs to be proactively managed to ensure it aligns with the goals and key performance indicators of the overarching strategy. Creating a data marketing dashboard can also help prioritise the current, real-time data that you generate.
What does the future hold for data-driven marketing?
Looking to the future of data-driven marketing, research suggested artificial intelligence will be adopted by more teams as a way to analyse or make sense of large amounts of data, as well as automate and optimise marketing decisions.
Future developments are likely to be defined by the ability to harness insights from vast amounts of data and use them to create more personalised, relevant, and effective marketing experiences for customers.
Looking for your next big role in this fast-moving sector, or need to source exceptional talent? Take a look at our latest Data jobs or get in touch with one of our expert consultants to find out more.
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