In such a competitive market, every brand is looking for that extra edge – for data and insights that will help it gain a better understanding of its customers’ habits, boost its awareness and compete more effectively against its rivals. But how do brands tease out the underlying shifts that lead to top-line events, understand those shifts, and use the knowledge to fine-tune their marketing activity?
A key challenge is that the digital media industry is dynamic and rapidly evolving, as well as being under close scrutiny by brands looking to get the best return on their investment. As such, developing a model for rigorous digital campaign monitoring that will withstand academic scrutiny is challenging, especially in a fast moving environment with constantly changing technologies and tools.
Going back to school
To better understand these issues, and develop a robust model for assessing campaign success, it can be helpful to go back to school – forming a Knowledge Transfer Partnership (KTP) which would allow to access the knowledge and expertise available within UK Universities and Colleges.
Getting beneath the surface
While all businesses regard themselves as ‘experts’ in their chosen industry, input from an objective third-party organisation provides an element of superiority to the claim. By partnering with such institutions, you will be adding a level of academic rigour that would simply not be available to without the KTP. Not only do they provide us with the tools for research and data analysis, but they also offer guidance on other elements such as software engineering and product development.
Forming a KTP is beneficial for both the company partner and knowledge-based partner. Working in partnership with the university adds another dimension to research and analysis, giving a unique opportunity to help shape the future of your industry and, in particular, getting a better, more holistic view of buyer behaviour.
Mike Flynn is CEO at Fast Web Media.
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