Understanding and monetising the potential of data
TEXT: MICHIEL STOL | PHOTOS © MULTIMINDS
Today’s world is driven by data. Organisations can use this data to analyse the behaviour of customers and optimise marketing campaigns. But how to know what works and what does not? Digital analytics agency MultiMinds helps you to get insights out of the data and shows what the best strategy is.
“Companies have a lot of data from their customers, but often do not know what that data means,” explains Siegert Dierickx, co-founder of MultiMinds. “Moreover, they do not know how they can use that data in an effective way to create better marketing strategies or target individual customers with personalised campaigns. With our help, they will know.”
Multiminds gives organisations insights in their data and helps create short- and long-term strategies. “It is important to know not only what kind of data you have and what potential it has, you also want to have a clear view of what you want to achieve from it,” adds Philippe Vlaemminck, MultiMinds’ other co-founder. “We see that companies have large marketing budgets, but often not a clear view of what their strategy is or how to analyse all the data. And believe us, they have a lot of it! That is why, together with our clients, we develop these strategies, using new technologies and data integration to help reach that.”
The company just celebrated its fourth birthday, by opening a new office. “The new office fits perfectly with our ambitions to grow steadily. It is still in Aalst, where it all began,” says Dierickx. He has over 15 years of experience in marketing and Vlaemminck has more than two decades in the IT industry. “We started with just the two of us, and now we have 12 employees. But at the end of the year, we hope to have 16 and a year from now, even 20.” International expansion is one of the other ambitions. “But only if it feels right to take that step.”
Now they know
In the four years MultiMinds has been working with clients such as Colruyt Group, L’Oréal Benelux, Belgian Railroads NMBS and Lundbeck pharmaceuticals from Denmark, they have seen a shift in focus. “When we started, the focus was almost solely on digital campaigns and websites. But the market has seen a shift to more omnichannel strategies,” Vlaemminck continues. “There are a lot more factors involved in campaigns, like CRM and both online and offline sales numbers. Using smart technologies and integrating them with their own systems, we make sure our clients know what all this data means. The more they know and understand, the better the strategy,” Dierickx adds.
MultiMinds’ unique methodology is still at the basis of every project: manage, measure and monetise. “Most companies are very eager to get to that third step, of course. But before you can get to that stage, you first need to understand the data that you have,” elaborates Dierickx. “That is our job, to show you and to say confidently: ‘Now you know.’ Once they do, and understand the potential, we can move on to the next step.”
‘Sharing our knowledge’
It is all about the level of knowledge in a company, as well as the willingness to take a good hard internal look,” explains Vlaemminck. To help get that knowledge to a higher level, and therefore help companies to take the next step in understanding and using the data it has, MultiMinds offers different kinds of training opportunities, both in its office in Aalst, as well as on-site at the premises of their clients. “There is a deficit of skilled data analysts and data scientists. With our classes, we share our knowledge and teach employees to analyse their data.” Training is suitable for people who have never analysed data, but also for people who are more advanced. “On-site training is fully based on the clients’ business, data challenges and day-to-day issues. So employees can immediately use the training in practice and see the results.”
“Basically, we want our clients to know what potential their data has,” summarises Dierickx. “Together with them, we define ‘success’, find out how to achieve that, and reach the goals.”