Game Plan For Leveraging Data Analytics To Drive Marketing Decisions

President Katherine Melchior Ray from Globe Ally discusses strategies for leveraging data analytics to drive marketing decisions. Understanding consumer behaviors through data analysis is crucial for making informed marketing decisions and staying ahead in the competitive market landscape. Katherine shares insights on how businesses can effectively utilize data analytics to enhance their marketing strategies and drive successful outcomes. Show NotesConnect With: Katherine Melchior Ray: Website // LinkedInThe MarTech Podcast: Email // LinkedIn // TwitterBenjamin Shapiro: Website // LinkedIn // TwitterSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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  The Martech Podcast is a proud member of the I Hear Everything Podcast Network. Looking to launch or scale your podcast? I Hear Everything delivers podcast production, growth, and monetization solutions that transform your words into profit. Ready to give your brand a voice? Then visit iheareverything.com.

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  From advertising to software as a service to data, across all of our programs and clients, we've seen a 55% to 65% open rate.

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  Getting brands authentically integrated into content performs better than TV advertising.

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  Typical lifespan of an article is about 24 to 36 hours.

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  If we're reaching out to the right person with the right message and a clear call to action, then it's just a matter of timing.

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  Welcome to the Martech Podcast, a member of the I Hear Everything Podcast Network. In this podcast, you'll hear the stories of world-class marketers that use technology to drive business results and achieve career success. Here's the host of the Martech Podcast, Benjamin Shapiro.

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  I'm Benjamin Shapiro, and to explain how to make your marketing culturally intelligent is Katherine Melchior Ray, who's the author of Brand Global Adapt Local. Catherine has worked for international brands like Nike, Louis Vuitton, and Shiseido before becoming the president of Global Ally Consulting and a professor at the Haas School of Business. And today, she's going to share the playbook for how your marketing can cross borders. Okay, last question for you, game plan. What's your game plan for prioritizing international markets as your brand expands?

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  Sometimes it can be easy, and sometimes it can be hard. If you have international customers in your domestic market, that's a very good place to start to learn from. Figure out where they're from and why they like your product. What kind of benefit does it provide to them that they don't have in their own market? So you can always learn from your existing market. You might study zip codes and see what kinds of demographic profiles they have, and if there might be similar demographic profiles in a foreign country. Again, use that CAGE framework that I talked about with the four different kinds of distance, cultural, administrative, geographic, and economic,

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  to be able to determine which might be more likely favorable markets and which might be more challenging. And I think back to the local market, whether you have foreign visitors or local visitors. You know, we have lots of micro communities in the United States. We're actually blessed with an incredibly diverse population here at home, if we see them that way. The challenge is to remember that no two customers are exactly the same, but you want to try to create segments of like-minded customers and figure out how you can learn from them. There's a lot we can learn in the United States.

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  Two things come to mind. One, you mentioned the CAGE acronym, which is measuring the distance not just in terms of geography, but culturally, economically. I forgot what the A was. What was the A?

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  Administrative.

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  Administrative.

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  How opaque or transparent are the systems payments legal?

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  Right. Is it logistically possible for you to actually sell in a different country? And that sort of calculus should help you figure out what are the right markets, but also learning from your local market. If you have a high percentage of Hispanic consumers, thinking about expanding to Latin America might make a lot of sense. But that has one underlying assumption, which I think could be dangerous. It's thinking that if somebody is Hispanic in the United States, their behaviors are similar to what they might be at home. There's obviously a cultural difference between people that immigrate to the United States as opposed to stayed in their native country. How do you make sure that you're factoring in, there's the Latin American, Japanese American, African American, that's different than people from Africa?

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  How do you make sure that you're interpreting the right cultural signals?

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  You have to always second guess yourself, question yourself. Don't take things for granted. Don't assume that people are going to be buying the product for the same reasons as they are in Los Angeles as they are in Louisiana. And in the same respect, you don't want to think that a Hispanic consumer in San Diego is going to respond the same way as a local Colombian consumer in Bogota. But you can learn certain things. There are certain values that may be similar, but that becomes the first place to study. So you want to go in with that skeptical mindset of saying, what can I learn here? What do I want to see? What do I want to study then in another market? So you have your assumptions kind of laid out for you right there.

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  And then you want to go in and remember their assumptions. Don't take them for granted and just expect that they're going to be identical. Don't do one size fits all, but learn how to brand global, adapt local.

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  Fundamentally, when you think about expansion and you're thinking about crossing borders, there's inherent risk. There's inherent risk when you're running a local marketing campaign. There's inherent risk for starting a company. There's inherent risk in everything we do. The more that you can be prepared, the more that you can do your homework, the more that you could try to test the market, the safer you'll be and reap the rewards from what is becoming an increasingly global planet. All right, that wraps up this episode of the Martech Podcast. Thanks to Catherine Melkey Ray, the President of Global Ally for joining us. If you'd like to get in touch with Catherine, you can find a link to her LinkedIn profile in our show notes. You could visit her website, which is Catherine Melkey Ray, or you could find her book, Brand Global, Adapt Local on Amazon.

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  And if you'd like a daily stream of marketing and technology knowledge in your podcast feed, hit the subscribe button in your podcast app or follow us on YouTube. All right, that's it for today. But until next time, my advice is to just focus on keeping your customers happy.

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  Thanks for listening to the Martech Podcast, an I Hear Everything production. Looking to launch or scale a podcast like this one for your brand? Then visit iHearEverything.com.