Sponsor Impact report keep in mind that, at its best, analytics enables predictive insights and doesnt simply recap past activity. Data can be interrogated to create predictive models that result in more commercial insights and enable better-informed decisions in terms of helping a brand to be recognised for its intended purpose, says Steven Brown, senior vice-president and global client lead at Savanta. This includes enabling approaches to uncover drivers, once purpose is defined, among existing customers and prospects. This can be built from market understanding and critically from linking research with other data sources. These other data sources can be transactional, behavioural, operational data, social media, and so on. Once companies have these in place, they can use analytics to build a commercially focused understanding of the drivers identified, their interrelationships, and how to compound success through integrated decision-making at a strategic planning level. Unquestionably, brand purpose matters from a commercial standpoint. Yet, as Accentures survey findings show and as amplified by other experts the majority of brands are not yet measuring it and are aware it is not fully integrated into their business proposition. Perhaps some still take too narrow a view of what it is and what it can deliver. If so, its time for them to wake up and proceed with purpose. Trust in the process Accessing consumer data is Research across 16 countries, lies in supporting their kind of brand. becoming ever harder. According to commissioned by the Global Data & Of course, purpose can be tricky. a recent study from Gartner, 75% of Marketing Alliance and published in Many brands have slipped up and the worlds population will have their March, found that trust in an faced accusations ranging from personal data covered under privacy organisation remains the most greenwashing to workforce regulations by 2024. The scale of the important factor driving consumers exploitation that sit at odds with a challenge for researchers and willingness to share personal carefully expressed purpose. Some marketers is readily apparent. information with a company. Trust in have been slammed for doing little an organisation was ranked by 38% more than paying lip service; others brands can try to persuade of consumers among the top three have been ridiculed for overly worthy consumers to share their data the factors that make them happy to or absurd marketing. so-called data-value exchange. share their data. There are several ways in which Payment in cash, free product, or The big question is, how does Purpose must, therefore, be authentic. In an age when brands are other rewards are the most obvious purpose play into that? Brands rightly taking a more analytical inducements, but monetising the built on purpose should have an approach to major decision-making, transaction will only work with a innate advantage when it comes they will have to test purpose before particular set of consumers. Many to generating trust, and thus they go to market, the same way they others look for something more stand a better chance of test everything else. meaningful, taking the stance: winning over consumers whose Why would I give my data to you if personal values align with the I dont need the money or the sum brands purpose. For the consumer, offered is negligible? the value in exchanging their data Didier Roekaerts, managing director and global analytics lead, customer insight & growth, Accenture 30 Impact ISSUE 39 2022_pp22-31_Report.indd 30 23/09/2022 15:01