Make sure your "data-driven" marketing isn't undermined by data mishandling. A recent Adweek article outlined five of the most common blunders. At the top of the list is failing to take advantage of the deeper demographics being culled in this big-data era. Going beyond age and gender can reap big returns. An example from the article: The Neustar Global Media Intelligence Report for 2013 found retail marketers that targeted campaigns according to attributes like home value and brand of car earned a 500% performance lift over non-targeted campaigns. Second, marketers can focus on the wrong metrics, choosing "vanity metrics," such as Facebook fans, instead of behavioral data linked to conversions, such as navigational paths and brand preferences. A third data misstep is focusing on shiny new digital data without integrating offline inputs (such as retail stores), creating a false picture of marketing's multichannel ROI. Fourth, marketers can get stuck looking at past data to the neglect of predictive modeling and forward planning. A forward-thinking success story from the article: American Express used predictive analysis and behavioral data to identify at-risk customers, for a 740% increase in attrition-combating efficacy. Finally, organizations can fail to invest in crucial data management and analysis skills, and surveys of executives find a majority admitting as much. Do you recognize areas for improvement in your own organization? For the complete article, with links to relevant studies, see http://www.adweek.com/brandshare/5-ways-marketers-are-mishandling-data-156449
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