NAMA Post-Show

Last week, SIGMA team members Ruth Altpeter, Director of Account Services and Mallory Tabolt, Senior Account Manager attended the National Agri-Marketing Association (NAMA) Conference in Kansas City, MO. The NAMA conference is an opportunity for agri-marketing professionals to network and attend learning sessions highlighting new ideas and strategies specific to the agricultural industry. This year’s conference theme, “Onward and Upward” was displayed through exciting and interactive breakout and sessions and networking opportunities and events.

Each year, the NAMA conference provides an important opportunity for our Ag portfolio teams to meet with clients and partners while brushing up the newest and greatest strategies for marketing in the ever-changing agricultural industry. Following this year’s conference, our team shared their takeaways from their time in Kansas City.

Takeaways from the Agri-Marketing Conference:

1. NAMA isn’t just a noun, it’s also a verb

As NAMA’s National President, Sheri Seger stated, “NAMA is also a verb.” As in, “we are going to NAMA the heck out of this conference.” For the agri-marketing industry, NAMA isn’t simply an organization or an event but is also a way to describe attendee actions and attitudes during the week-long conference.

2. Magicians can teach you about agri-marketing

Well, maybe not agri-marketing specifically, but entrepreneur, magician and keynote speaker, Vinh Giang led our team’s favorite session which focused on perception, influence and crafting solutions for “re-imagining and overcoming the impossible” when it comes to strategic marketing.

3. The secret to increasing exhibit booth traffic is puppies

As marketing professionals, we tend to consider ourselves creative individuals but at NAMA, The Sandbox Agency beat us all with their #Sandboxtotherescue campaign, which brought approximately a dozen puppies to their booth from a local shelter. The draw for attendees? Go to the booth and cuddle an adorable puppy while the Sandbox team talked about their services. We call that a win-win.

4. Hackonomy is a real word

According to keynote speaker Bonin Bough, hackonomy is defined as creating value by breaking things. Bough explained how as agencies, we need to break the norms and push through the traditional processes of what has already been done to take our marketing to the next level. Bough shared case studies demonstrating his hackonomy successes based on his experience working for companies such as PepsiCo and Modelez International (formerly Kraft Foods.)

5. Your ‘Top 5’ will define your future

Believe it or not the highlight of our team’s trip wasn’t the KC barbecue or the 80 degree weather, but rather a specific idea that was brought up at the conference. The idea that conference attendees were asked to think about was that professionally, you are a reflection of the top 5 people you spend the most time with. The concept forced our team members to reflect on who they spend most of their professional life with and what other types of individuals they may want to bring into their inner circle in order to meet their professional goals in the future. If you want to improve your public speaking and your top 5 does not include someone who excels in that area, you need find an individual with this quality and make a point to spend more time with them.

Commodity Classic Recap

Earlier this month, SIGMA team members Gregg Sullivan, COO and Mallory Tabolt, Senior Account Manager traveled to Orlando, FL for Commodity Classic 2019. Commodity Classic is the largest farm-focused trade show in the U.S. and hosts thousands of visitors seeking new technology, equipment and the opportunity to meet with vendors and partners.

Over the three days that our team members attended the show they were able to attend learning sessions at the Commodity Classic Main Stage, meet with clients and partners, attend the American Soybean Association (ASA) Awards Banquet and check out the new innovations that the Ag Industry has in store for the upcoming year.

After sitting at the ASA Awards Banquet on Friday night, Gregg said, “I feel honored to be a part of such a strong community. From presenters, to honorees, to the work that brought us all together, it is clear this is a group of people across hundreds of businesses who all agree that the most important thing to their success is to value and support each other, innovation, and high quality work.”

5 Takeaways from Commodity Classic:

1. Attendees travel from all over the U.S.

Commodity Classic attracts visitors from all over the U.S. including those from SIGMA’s own Rochester, NY. One local Western NY attendee was a panelist during our favorite learning session of the week, “Plugging into the Power of Your Regional Cover Crop Council.” Donn Branton, a farmer from Le Roy, NY and board member on the Northeast Cover Crop Council shared his experience with cover crops and their benefits, giving examples of techniques he has used to help promote soil health and increased yield.

2. It’s a great place for one-on-one conversations with partners

Our client, FMC hosted an after the show happy hour for attendees and partners to promote their new product Lucento™ fungicide. The SIGMA team spent this time meeting with clients and finding out how we can more effectively work together in 2019 to provide valuable data and insights for use in marketing and overall decision-making.

3. It’s not just about the technology and equipment

The educational session that seemed to attract the largest group of attendees wasn’t about technology, innovation or equipment, it was about farming as a family business. Consultant and Farmer Jolene Brown gave a humorous and informative presentation on the valuable lessons she has learned from working with farming families and the difficult decisions that come with running a family business.

4. ASA Awards Banquet

FMC was one of the premier sponsors of the American Soybean Association Awards Banquet where soybean growers, volunteers and leaders throughout the country are recognized.

5. Orlando in the winter is amazing

When you’re used to winter in the Northeast, Orlando is a welcomed break at the end of February. When our team wasn’t at the show, they were able enjoy Orlando’s warm weather and some of the best key lime pie around.

Looking Forward – Q and A with Stefan Willimann

SIGMA Account Manager, Teddy Malone, sat down with Stefan Willimann to hear his reflections on 2018 and hopes for 2019.

Let’s talk about 2018. Where did we come from? Where are we going?

2018 was a strategic year, one in which we really started to integrate an important value into our culture — empowerment. Empowerment begets risk and risk begets leadership, and surrounding myself with leaders whom I can serve is rewarding to me personally and makes SIGMA a better company.

Last year we put a “bottom up” structure into action, and as our COO Gregg Sullivan expressed recently, “What comes with empowerment is accountability, and therefore if our team feels empowered they hold themselves responsible.”

How has your role at SIGMA changed in the past year? 

I made a concerted effort in 2018 to move from working IN the business to working ON the business. Practicing my own empowerment has allowed me to start to think of the business in more strategic terms. I’m more focused on the vision of the business and taking this new approach has helped me climb out of the trenches and be less myopic. Right now, I am more focused on the evolution of SIGMA than ever before.

As we look toward 2019, SIGMA is poised for growth. Tell us about “Digital at SIGMA.” How do you feel about SIGMA utilizing its data expertise to inform a digital capability for other companies?

Digital is a part of everything we do, and SIGMA is poised to turn up our resources in this area. Regarding growth, I think that the digital application and what we can expect this year into next is leveraging expertise in certain verticals. We do a lot of business in the membership organization sector, museums and the like. Agriculture and financial services as well.  We are prepared to leverage our knowledge in digital and take it more into vertical practices. I see a move to expertise in verticals, and anticipate that we will have vertical practice leaders rather than account managers as we continue to evolve.

SIGMA’s new Boston office is set in the heart of the city, accessible to the surrounding area

Speaking of the future, let’s talk about SIGMA’s expansion into Boston. How that will influence our business?

Boston is a much larger market than Rochester, ranking #24 in the country based on population. There is a tremendous amount of thought leadership coming from Boston, which is how we started 30 years ago in the database marketing industry, so it is exciting to be in such an innovative and investigative city as we evolve again.

Additionally, from Boston, SIGMA now has easier access to NYC, Philadelphia and other potential clients. We want to meet people face to face and demonstrate that we are committed to being a part of their team and understanding their needs.

Finally, we are going to be able to find more talent in this highly educated market. We’re grateful that Rochester has a pool of talent from RIT and University of Rochester; Boston is simply a bigger city and bigger cities have more talent to draw from and we’re excited about that potential as we grow here too.

Finally, back to SIGMA’s data business, why do you think companies are rapidly moving towards the customized visualization SIGMA provides rather than generic build-outs from other software?

Honestly? Generic dashboards are becoming obsolete. Everything now should be tailored to the specific needs of the client and their business so they can put in the KPI’s and content they want to see. Generic dashboards don’t compute or tell a coherent story.

Custom dashboard reflecting a campaign summary

Our customized dashboards are tailored from a tool, with experienced data scientists to back them up, and they can tell a story that is highly applicable to the client’s business.

2018 – Our Year in Review

2018 was a powerful year for SIGMA, rich in growth and full of promise for the future. As we look toward 2019 I think it’s beneficial to examine where our business developed successfully and look at our three salient areas of growth: Ag Space, Digital Expertise, Talent Acquisition. It was a pivotal year for SIGMA and our future as a leader in this business.

Minneapolis, MN – The location of the Fall National Agri-Marketing Association Conference

The year started with an exciting task for SIGMA which required our team to work closely with FMC after it acquired a portion of DuPont’s Crop Protection business. The acquisition brought on a number of new products and a significant amount of new data that we were more than willing to help manage. During this process, our team was invited to attend FMC’s U.S. Integration Team Meeting in Phoenix, AZ where we got to meet and introduce our team and services to the new FMC staff and hear about the exciting future of FMC.

2018 also marked our continued growth in the Ag Space as we began providing database and analytics support for a company with a of diverse portfolio of agricultural products. In addition, members of our team attended The National Agri-Marketing Association (NAMA) spring conference and fall conferences in Kansas City, MO and Minneapolis, MN.

Sue, Adam, Paul and Mallory visiting The Henry Ford Museum’s “Rosa Park’s Bus” in Detroit, MI

Beyond Ag, we saw our expertise expand in the digital marketing space. Our Data Scientists worked to profile and segment audiences that helped inform our digital team on suggestions for targeting display and social media marketing for The Henry Ford Museum in the Detroit Metro Area and we worked closely with a local Rochester agency to develop a centralized dashboard for reporting digital analytics. Our team also conceptualized and deployed a successful customer win-back email campaign for a large media provider. Throughout the year we explored our in-house digital capabilities and decided to create our own digital marketing division, “Digital at SIGMA.”

SIGMA’s Ben (Center Right) and Gregg (Far Right) with Randall Lippincot of AAA (Far Left) and Brett Conley (Center Left) of Gallagher Affinity after a golf outing

Other 2018 projects included building dashboards and providing insights to our clients like AAA MidAtlantic and Carestream Dental on member renewal reporting, budget forecasting and customer acquisition and retention.

All of this incredible growth prompted us to hire new talent. In April, Julia Mezzoprete, a 2018 graduate of John Carroll. In June, Teddy Malone, a 2018 from Boston College. Maureen Martin, a gifted developer, joined us to strengthen the IT foundation of SIGMA. And at the close of 2018, SIGMA hired Megan Salocks, formerly of the Smithsonian Institute, to join our team and share her Digital Knowledge.

Meg, along with Teddy, will spearhead “Digital at SIGMA,” allowing us to offer full digital capability along side data strategy. This initiative is a primary focus of 2019 and we hope to penetrate more markets and attract new businesses with these offerings.

SIGMA’s Paul and Gregg met up at the Seneca Park Zoo’s “Zoo Brew”! Seneca Park Zoo was a new client late in 2018

Finally, I am pleased to announce that I have taken the role of Chief Operating Officer at SIGMA. In taking on this responsibility, I will continue to guide our talented team toward success, and create a culture of inspired workers as well as insure efficiency and client delivery.

We are setting our expectations high for 2019. Many thanks to 2018 for setting such a wonderful stage.

5 Takeaways from Tableau

In October, SIGMA Data Scientist, Adam Smith attended Tableau’s coveted conference in New Orleans. Today he shares his biggest takeaways:

1. Mobile is now

One theme across many conference sessions included the importance of creating dashboards that work across screen sizes: desktop, tablet, and mobile. Fortunately, Tableau has a Dashboard Layout tool that allows you to create multiple versions of the same dashboard to optimize the display on different device sizes. Coming in 2019, there will be a default mobile view so that even if a dashboard never had a mobile version created, it will automatically transform into a mobile friendly view. This not only helps with older views but can make it faster to create custom mobile dashboards for your new projects.

2. Natural Language Processing (NLP) is next

Tableau’s mission is to help people see and understand data, but when they say people, they don’t just mean data scientists and spreadsheet wizards, they mean everyone. Even if you’re the type of person who thinks pie chart sounds like a tasty snack, they want to help you. An upcoming version of Tableau will have NLP built right in. This means you can write questions in English like “What are our sales in Q3 2018?” and Tableau will return the data in the best visualization. From there you can add additional text like “in the northeast region” to filter and drill-down or adjust it with the standard Tableau tools.

3. Interactive is best

I was reminded again that we need to make sure our SIGMA dashboards are interactive, flexible, and easy to use. It’s simple to put together a few charts, add a few filters and think you have a great dashboard, but it’s important to put yourself in the end user’s shoes and see what happens when you click on a bar chart (filter actions) and think “how can I make this dashboard work for a lot of people at once (parameters)?”

Here is a dashboard SIGMA created for SIGMA. It outlines work hours for each week and identifies when it gets off balance.

Of course you want to get feedback from your end user, but they may not know how to articulate their experience when it comes to options for interactivity.  Consider giving your dashboard to a colleague who is familiar with Tableau without telling them much about it to get feedback not only about interactivity, but anything else they may notice.  Looking at a dashboard with fresh eyes can help you really make it shine.

4. Who is this dashboard for?

Amid all the deeply technical sessions that I attend, I always try to make room for at least one session on soft skills.  Last year that was Design with the user in mind.  This year I checked out Start at the beginning | Gathering requirements for dream dashboards.  The presenter had lots of great ideas for making sure you’re building what your end user really wants.  Here are my top takeaways:

  1. Find the end user – Make sure you find who will really use your dashboard. Ask them open-ended questions about what they are trying to accomplish.
  2. Do it in their style – Use colors and chart types that work well for them.
  3. 3 x 1 rule – For every three things we do for our audience, we can do one thing for ourselves.
  4. Easter eggs – Put in something that will surprise and wow the user.

5. Fun!

There are hundreds of breakout sessions at Tableau, not to mention the hands-on training, Tableau Doctor, and insightful conversations in the hallways with fellow attendees. But it’s not all work and no play for attendees.  There’s plenty of fun to be had at receptions, mixers, and happy hours, and that’s even before you check out the jazz clubs on Bourbon Street! That is all just prologue to the last night of the conference and the party with 17,000 data nerds: Data Night Out.  This year it was at the Superdome.  We ran out onto the field where the Saints play each Sunday and had a huge, nerdy party.

The Tableau Conference is a great way to stay on top of what’s new and next at Tableau.  If you weren’t able to attend, but would like to learn more, many sessions were recorded and are available for free on the Tableau Conference website. And if you’re really excited, it’s not too early to sign up for 2019 when Tableau Conference returns to Las Vegas.

Successful Analytics

At SIGMA, we believe that certain processes effectively guide and instruct the B2B marketer to optimal performance and maximum ROI. Furthermore, an understanding of B2B marketplace realities is essential to appropriately apply these principles. The proper understanding of data can reveal these realities while the proper use of data can inform application of the principles.

Price’s Law (or the Pareto Principle), is a phenomenon that economists, and even scientists, have recognized as a fundamental aspect of both human interaction and the natural world. Simply stated, it’s the uneven distribution of resources or productivity to relatively few within a particular domain. The size of cities, the height of trees in the Amazon Rain Forest, the size of galaxies, and even sales and profits reflect the Pareto Principle. In business, we observe the principle in the fact that about 80% of your sales comes from about 20% of your customers.

What does this fundamental landscape of the business world mean? It means that how and to whom you apply your marketing efforts affects the bottom line.

With this law in mind, there are two approaches that work best for all marketing efforts.

Align the most important aspect of your marketing efforts.

  • Prior to implementing any marketing efforts, if you and your team define one metric, for example lead generation, as most salient, you will drive the effort in a more focused manner. A focused marketing effort is much more likely to land a client who will be in the 20% that generates 80% of your sales.

Create a roadmap to incorporate each marketing activity into a larger body of efforts.

  • Just as sub routines make up your morning routine, each sub marketing effort should have a directed purpose that is part of the overarching marketing effort. While seemingly obvious, if your business moves from one effort to the next without a thematic thread, then maximum efficacy of your effort is lost and ROI will be average to poor.

Once solid methods are in place, an easy extrapolation from your data will give insight into your winning tactics. Insights into your winning tactics can easily create the optimal approach for all platforms, digital, email, social or otherwise that maximize ROI.

For a deeper analysis of this topic, we invite you to explore the attached eBook B2B Data 101, and subscribe to our blog for other compelling content related to data and how it can work for you

Adam Smith Speaks at the ABA Bank Marketing Conference

Check out Adam Smith delivering a great presentation on “Data and Machine Learning Worth your Time and Money”. Adam gave this speech at the American Banking Association’s 2018 Bank Marketing Conference in Baltimore, Maryland on September 24th. In this video he explores such customer segmentation, customer profiling and predictive modeling. He, also, wrote this blog on the same topic.

 

 

Please like and share the YouTube video and/or subscribe to our channel for great future videos and clips like this.

9 Key Marketing Metrics Every Company Should Measure

When organizations begin to standardize marketing measurements across their sales channels, business units and media, they will better track Brand Equity, Market Share, Marketing ROI, and Product and Customer Profitability.

Here are 9 metrics every marketing organization can be measuring:

  1. Multichannel marketers are tracking the costs to generate traffic to their sites from all possible sources. These often include the costs to complete the transaction, which can include a call center or technical support of the site itself.
  2. Marketing Spending Metrics are often looked at to try to establish the ROI value of incremental spending. Some of the measurements in this area include cost per impression, reach, frequency, share of voice.
  3. Visitor Acquisition KPIs are used to understand the health of the sales funnel. Definitions begin to get very important here – what is a visit, what is the source of the visitor, what is a return visitor, what is a unique visitor, etc. Tracking sources often require the integration of multiple reporting tools – the ad serving provider, the web tracking tools, the ad tracking tools, etc.
  4. Site Effectiveness Measurements look at the conversion effectiveness of the site. The sales funnel is critical here – how efficiently can a visitor be turned into a customer?
  5. Definitions are critical in conversion metrics – especially if the conversions of one channel are to be compared to others. What does a conversion mean? The problem of properly attributing conversions to their sources is common and must be consistent across each channel.
  6. Buyer Metrics includes the frequency of purchases, or the retention rates of customers that can be rolled up to overall market share, brand equity and/or customer lifetime value. The most quoted Buyer Metric is typically the Average Order Value, or the AOV, which is used to understand and compare different groups of buyers.
  7. Revenue — Multichannel and e-commerce marketers track revenue carefully to compare the margin generated from each channel, to determine the value of incremental sales, and to guide pricing and promotion decisions.
  8. Customer Loyalty and Customer Profitability Metrics — Companies use these metrics to understand the value of their individual customers, regardless of which sales outlet they have chosen. Definitions are critical from one channel to the next, and the methodology for the measurement of loyalty and customer-level profitability can vary considerably from company to company, depending upon the purchase dynamics of the product.
  9. Profitability and ROI — Each of these categories of metrics can include components such as:
    • Channel margin
    • Performance compared to a sales target
    • Net Profit
    • Return on Sales
    • Return on Investment
    • Net Present Value (NPV)
    • Return on Marketing Investment (ROMI)

Any one of these metrics are difficult to measure without integrated databases to create definitions across channels. As data tools advance and simplify the process, marketers increasingly have the ability to measure such metrics easily. Today, smart decisions across the marketing organization can and should be commonplace.

3 Ways to Get to Know Your Customers

Today, online purchases and order forms are rapidly replacing the face-to-face or voice-to-voice interactions that drove business and relationships in the past. However, computer-based interactions have also opened up new methods of understanding your customers, and have highlighted the need for a solid customer database. Key data provides crucial information to B2B companies about key traits, including purchasing style, to help you further engage, market to, and acquire more customers. Here are 3 data sources to help you better understand your customer:

1. Understand Customer Transactions

Ask yourself: what types of trends do you see when you look at your transactional data? Are your sales up or down from last year? What are the common products/services that are being purchased?

Simple questions like these can typically be answered using transactional data. Before you dive in too deep, try to understand the big picture of what is being sold and purchased as a whole.

Reflecting on the past helps better us in the present and look ahead to the future.

Your company may be tracking customers through Facebook with digital efforts such as retargeting.

2. Know Your Customers

It’s great to know what products or services your customers are purchasing, but being able to identify individual customers may be the single most useful tool available to the analytic marketer. For some companies, this is easy; their transactional data has the customer information by nature. For others, they rely on loyalty programs or survey data to make generalizations about the purchases their customers are making. In both cases, identifying new and returning customers will help your company understand current trends in their business.

Unsure how your company is tracking customer activity? Ask your sales team what information is being kept in a CRM; you may find that the information is already available.

3. Who’s Who – Tracking New vs. Returning?

Once the identity of the customer is known, you can begin to understand who is a new vs. returning as well as begin learning about the types of customers who might be interested in purchasing from your company. This is important data that can be found by bringing in outside data sources with demographic or firmographic information. Once you can identify key customer traits, you can create customer profiles for those who are likely to become new, those who are likely to leave, or those who are the most profitable.

5 Ways Data Can Help Guide Your Digital Marketing

As digital marketers, we are always striving for higher open and click-through rates and increased page views, but often rely on instinct and guess-and-check methods to reach our goals, instead of making decisions based on results. That’s where data comes in.

Using data to guide your digital marketing strategy can take it from its likely generic approach to one that tailors messaging and places relevant content, based on actual findings, on the right platforms for your intended audience.

For help transitioning your digital marketing approach to one with data-driven strategy, follow our 5 tips below:

  1. Use Custom Audience Targeting – If you have first-party data from current customers, use it to develop customer profiles based on demographic and psycho-graphic factors. These profiles can help you develop tailored content based on factors such as age, gender, geography, and interests. Creating a targeting strategy with first-party data can help you market to current and potential lookalike customers with messaging they will likely interact with. If you don’t have enough first-party data, try using the targeting tools offered by digital platforms.
  2. Determine Your Distribution – Not all digital platforms will work with your digital strategy, because your target audience is not using all of them. Use your customer data to determine what social and digital platforms your audience is most likely to be using and start there. If you don’t have enough information about your current customers to make this determination, look at what platforms your closest competitors are using and see which fit your brand the best.
  1. Let Data Drive Your Content – Measuring the success of your content can be your greatest tool in determining what new content to develop. How will you know what content to create in the future if you don’t know what is resonating with your target audience now? Using data from your digital marketing campaigns can help you determine what content is working with your audience and help you determine what to focus on for future content. In addition, use this information to edit or reformat existing content that may not have performed the way you had hoped. Editing and reusing existing content based on your findings can save you time and development costs.
  2. Time Your Content – If you have been using data to track interactions with your content then you should have an idea of the time of the year, day of the week, and even the time of day your target audience is most likely to be online. Use this data to schedule your content during those peak times for a better chance of meeting your campaign goals.
  1. Make Reporting Easy – A major challenge for data-driven digital marketing is the time is takes to retrieve the data from all of the different distribution platforms that you are using for your campaigns. Website, email and pay-per-click marketing rarely use the same tool, which can complicate your reporting. In order to optimize your digital marketing data, consider combining it all into one dashboard that allows you to see trends that may be happening across multiple platforms.

To learn more about data-driven digital marketing or to schedule a demo to see our reporting dashboards, contact us at info@sigmamarketing.com or comment below.