Paper JOSM 24,3 330 that are collecting large

Paper type Research paper
1. Introduction
One of the biggest challenges facing marketing managers today is the lack of
credibility in the boardroom, with 73 percent of CEOs reporting a lack of trust in
the marketing department’s ability to generate sales and increase customer conversion,
demand and market share (The Fournaise Marketing Group, 2011). In recent years
however, there is broad agreement among corporate marketers and marketing
researchers that utilizing data to drive marketing decisions can help change the
perception of marketing from a cost center to a value generating center. In fact, a recent
study conducted by Columbia Business School and the New York American Marketing
Association found that 91 percent of marketing leaders and 100 percent of chief
marketing officers (CMOs) believe that in order to be successful, brands need to make
data-driven marketing decisions (Rogers and Sexton, 2012). Despite the overwhelming
desire to be data-driven, according to the above study, 29 percent of marketing leaders
report that they have little or no customer data to implement this desire. Among those
The current issue and full text archive of this journal is available at
www.emeraldinsight.com/1757-5818.htm
Received 5 November 2012
Revised 10 January 2013
Accepted 30 January 2013
Journal of Service Management
Vol. 24 No. 3, 2013
pp. 330-352
q Emerald Group Publishing Limited
1757-5818
DOI 10.1108/09564231311327021
JOSM
24,3
330
that are collecting large volumes of data, 39 percent report that they are unable to
convert their data into actionable insights.
The explosion of data from various digital sources such as e-mail marketing, online
content (web sites, podcasts, blogs), social networks (Facebook, Twitter), and internet and
mobile ads has added to this challenge for marketers (Larivie`re et al., 2013). In the last
decade, the use of neurophysiological data to measure marketing ROI and brand equity has
emerged as another paradigm shift in data-driven marketing, with neuroscience data being
increasingly referred to as the new “scanner” data (Venkatraman et al., 2012). As a result,
there has been an increasing trend in the number of neuromarketing companies offering
proprietary neurophysiological toolkits and traditional market research firms entering this
space with companies such as Nielsen Research investing in NeuroFocus (Well, 2010).
The profusion of these different data sources has made it difficult to identify which
sources matter, how to integrate the different data sources and identify which insights they
can each be used for (Olafsson et al., 2008). According to the 2012 study among corporate
marketers (Rogers and Sexton, 2012), 77 percent reported that effectively combining their
traditional and digital marketing is a critical business objective due the challenge faced in
integrating channel-specific metrics such as the number of Facebook “likes” with more
universal metrics and key performance indicators (KPIs). Further, although marketers
understand the importance of basing their marketing budget on ROI analysis, 57 percent of
those surveyed were not doing so and 37 percent indicate using “brand awareness” as a
universal metric to measure marketing ROI. Additionally, only 14 percent of the companies
that use social media marketing are evaluating these efforts with forward-looking metrics
such as customer lifetime value (CLV) (Rogers and Sexton, 2012). As with digital data, the
integration of neurophysiological and traditional data is a key challenge for firms. A panel
of practitioners agreed that adopting a multisource approach offered by the triangulation
of neurophysiological and traditional data is important to understanding the “why” and
the “what” in marketing research, however, there was less agreement on how to integrate
these sources of consumer insights (Dubois and Isaac, 2011).
In response to these challenges, there are four key purposes to this paper:
(1) link traditional and new sources of customer data and their metrics;
(2) link data and metrics to strategic and tactical business insight

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