Business Intelligence (Lunch and Learn) - June 16

Description

"Adapting marketing to the new customer journey"
Featuring, Damian Fernandez-Lamela, Senior Director Global Marketing Analytics, Fossil Group

The Fossil marketing team had the challenge to improve the return of investment of a $250 million global marketing budget across multiple brands by adapting Fossil marketing to the new customer journey.

The media landscape has changed significantly in the last 10 years with the introduction of social and digital media. The customer purchasing journey has also changed dramatically, with more consumers basing their purchase decisions on online reviews and online research before going to the store and more consumers buying online directly.  As a consequence the digital media efforts have cross channel impacts affecting retail and wholesale stores sales.

In order to address that challenge Fossil created a system of mathematical models and scenario planning and optimization tools that brought analytical rigor and accountability to the marketing investment decisions of how to best allocate marketing resources across countries and media mix. The project also allowed them to understand what the holistic ROI of the omnichannel marketing investment is. Fossil used the most advanced data science and technology to adapt media spending to that new customer journey reality and positioned Fossil for success in the new retail era. As a result the company increased significantly marketing ROI, online traffic, brand awareness and purchase intent year over year. 

Fossil Group is a global retailer specializing in the design, innovation and marketing of fashion lifestyle and accessory products. At the heart of Fossil Group's vision is a commitment to fostering creativity and delivering the best in class design. Building on those core competencies, our company has been developing a marketing analytics competency to improve marketing return on investment and support the company goals.



About the speaker:
Damian Fernandez-Lamela is the Senior Director Global Marketing Analytics at Fossil Group. He has more than 18 years of experience in applying analytics to gain a competitive advantage. Before Fossil he held senior analytics roles for RealPage, Omnicom (AT&T), and DELL where he was responsible for optimizing marketing decisions for over $1 Billion in annual advertising spend. He has an MBA from the MIT Sloan School of Management and he is the president of the MIT Alumni Club of DFW.