Adapting, Evolving, Thriving: An Exclusive Interview with Analytic Partners’ President and CEO
“[Brands today] have so much data and so much capability with technology and science, but they can't pull it together to help make decisions… so the challenge is: What do you do to ensure that you minimize your risk and take advantage of the opportunities?”
- Nancy Smith, President and CEO, Analytic Partners
In her recent interview with Morketing, Analytic Partners’ President and CEO, Nancy Smith, shared her thoughts on the evolving landscape of data and measurement.
While there, she discussed the evolution of the marketplace during Analytic Partners’ 24-year history, as well as insights on how brands can navigate today's complex environment, the unique opportunities in emerging markets like China, and the significant role Commercial Analytics plays in empowering long-term growth for brands.
Watch the full interview below:
Q: What was the initial intent behind the company's founding?
A: I founded Analytic Partners back in 2000 because there was a great opportunity to leverage data and analytics and uncover insights to make decisions that weren’t being tapped.
Q: Why did you choose this field?
A: I chose this field because I studied economics and marketing, and I recognized [that analytics could be better utilized] to make decisions and bring together strategy, creative, data, and science to improve business performance.
Q: Since the company was established in 2000, what has been the most memorable challenge for you? Can you share some stories with us?
A: After founding the company in 2000, we went through recessions and through COVID, and... one of the challenges we faced was: How do we continue to grow and serve our customers, some of the world's leading brands, during a time when consumers like you and I had to stay home?
[Ultimately], we were able to leverage data and analytics to help them understand how they can still reach consumers and drive demand even though consumers were not mobile. Our mantra is "Adapt, Evolve, Thrive." You can thrive in the most challenging times if you know how to adapt, and we really lived that mantra during COVID.
Q: As Analytic Partners approaches its 25th anniversary next year, what changes and constants in the marketing landscape have you seen over the past 24 years?
A: When I founded Analytic Partners, Facebook didn’t even exist, and so much of what we see out there wasn’t the same. [Back then] I had this wonderful vision to turn data into expertise – [to go beyond] analytics and insights and create a new discipline. There’s still opportunity for so many brands to create that discipline for their business, so that challenge has remained constant.
Q: What do you think is the biggest challenge facing brands today?
A: Brands today have so much data and so much capability with technology and science, but they can't pull it together to help make decisions. There is so much competition and uncertainty within the marketplace and in the economic environment. So, the challenge is: What do you do to minimize your risk and take advantage of the opportunities?
Q: How can Analytic Partners leverage these opportunities to empower clients and achieve their business objectives?
A: We can help with the challenges that many brands are faced with, especially the uncertainty, because we understand the drivers of the business– those things that brands can and can’t control. If you can understand the drivers of your business [as well as how to] mitigate risks and take advantage of opportunities through analytics, simulations and scenario planning, you can achieve wonderful things.
Q: Analytic Partners has been recognized as the leader in the industry; how can Analytic Partners continue to lead?
A: It’s a lot of hard work, a lot of talented people, and wonderful customers and partners that continuously ask questions and challenge. As data becomes bigger and more available, [the technology to leverage it] is becoming more powerful. At the same time, there’s so much untapped potential, and we’ll always look for that potential.
Q: What opportunities or trends do you foresee in the Chinese market in the future?
A: Well, there has been so much started here in China. I had the opportunity to meet with a CMO of a major organization, and [they] said it’s wonderful to have colleagues come here so they can better understand how different the China market is, and I truly believe that. It’s a market like no other, and it’s important to fully understand the business environment and all the factors that drive it. I think there’s a wonderful interest in and adoption of technology here that doesn’t exist elsewhere in the world.
Q: How can Analytic Partners leverage these opportunities to empower clients and achieve their business objectives?
A: We want to put the analytics and the insights in their hands so that they can learn how to make decisions and see the implications of those decisions [in real time], and then iterate and change and learn and sense and respond and grow.
Q: How do Analytic Partners’ commercial measurement solutions support and drive long-term brand growth?
A: We have a different philosophy than most. Many companies do Marketing Mix Modeling. We’ve elevated beyond that to commercial measurement – Commercial Analytics – which involves understanding the consumer, how they experience the brand and ensuring that we reflect analytics with all the data around them. Once we have that, we can understand well beyond advertising ROIs to understand not just above the line but below the line: pricing, promotion, economic factors, and all those drivers of the business.
Q: Introduce your local team.
A: We have a team of scientists, strategists, and product folks that help with our technology and customer support. It’s wonderful to have many team members here in China who worked in the U.S. That cross-collaboration and cross-learning have been invaluable for the team.
Q: As a female leader and marketing professional, what do you see as the advantages and disadvantages in the field of data-driven marketing?
A: I think anyone, whether a woman or a man, can achieve great things if you follow your passion. I’ve always been passionate about math, data and analytics, and what they can unlock. I’m fortunate that I’ve been successful, have had wonderful team members to help steward the business forward, and I think I can be a role model for other women who want to grow their careers or follow their passion and do something and build something.
Q: Would you like to share advice for the future development of women in this field?
A: I would say don’t give up. I would say follow your passion. I would say never stop. Because if you keep going and you’re unstoppable, you’ll achieve wonderful things. And rely upon others, because there’s a great opportunity if you work together.
Q: Would you like to say something to our readers?
A: I would just like to say that if you have data, you have a great opportunity to leverage it, make decisions and make better decisions. Really look at the opportunities in front of you and seize them.