Catchy title, eh?…! I’ll clarify what this means in a moment.
But first – this may shock many of you who work in a analytics capacity at a creative agency, but many of our colleagues find it difficult to understand what we do, and what it means for them and for our agency’s product and future success.
But “pets on beds” is a great example of how to explain the value of marketing analytics to our colleagues.
So – to explain: using a variety of analytical techniques, an e-commerce company (selling pet food and supplies) discovered that people who let their pets sleep on the bed spend 5x the amount of money on their pets.
yes – FIVE TIMES the amount of money compared to those (like me) who keep their pooches (kitties, iguanas, hamsters, budgies – whatever) on the floor, in the cage, on the roof, etc.
I congratulate that company on their find, and i’m sure they continue to deploy a variety of tracking and optimisation techniques to gauge whether this correlation still persists, or if there’s another ‘nugget’ or big-data insight that they should highlight.
It’s the APPLICATION of this insight that is so useful; here are just a few examples:
- Targeting: obviously, one’s media purchasing can be hyper-targeted to a profile of those ‘likely’ to let the pet on the bed
- Creative: messaging to pet owners and supporting visuals can reinforce that ‘pets on bed is OK’ to pull prospects towards the brand (and away from those other brands who “just don’t ‘get’ me and my pet…”)
- Partnerships: having a specific insight like this can, with proper profiling of correlated purchasing, attitudes, and behaviors of the ‘pets on bed’ type, lead to potentially rich marketing and media partnerships (“hey, honey, there’s a discount on this new bed – and i get a coupon for dog food as well!”)
But my favourite application of the ‘pets on bed’ insight is that it’s a catchy and humorous way to explain marketing analytics to clients, colleagues, and friends – and it’s also a call-to-arms for unearthing those massively valuable insights from the data to drive better work and better performing marketing campaigns.
In a meeting a few months ago, I mentioned ‘pets on bed’ to explain how we were going to track the correlation between audience profiles, digital behaviors and business objectives. A young copywriter admitted she let her pet sleep on the bed, and then explained, embarassed, that she was about to leave the meeting to go buy a new dog collar and chew toy for her pet.
I wasn’t surprised.