What it really takes to become a data driven marketing organization

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While “big data” may be the buzzword du jour, many marketing organizations have never really prioritized and operationalized the value of “regular data”. Organizational silos, disparate data sources, legacy planning processes, and constrained resources have all contributed to “the data-driven organization” being more of an aspirational state than a strategic imperative for making more informed marketing decisions.

However, the tide is turning, and the competitive and operational advantages are clear. Being data-driven is as much a mindset as it is a set of processes, guidelines, systems, tools and analytics capabilities. Effective integrated marketing requires new approaches to cross-channel analytics and cross-functional collaboration in order to develop the ongoing actionable insights and business intelligence that can improve marketing performance — all while supporting, rather than stifling, creativity and innovation.

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What it really takes to become a data driven marketing organization

  1. 1. Where Does Social Fit in Your Media Mix?!Do you have a Foursquare strategy?!•  Can you sell on Facebook or Twitter? Should you makeuse of all the platforms – established and emerging –and how do you use them anyway?"•  Have you developed content for Vine?"•  How can you use the strengths of social to work inconcert with your other channels to maximize its impact? "What it Really Takes to BecomeA Data Driven Marketing Organization
  2. 2. What you will not hear over thenext 40 minutes …!
  3. 3. Every  year  the  world’s    data  increases  by…  Petabytes,  exabytes,    ze9abytes,  yo9abytes  …  
  4. 4. So, let’s first define a data drivenmarketing organization …!
  5. 5. What does it mean to be data-driven?!The culture and capabilities thatoperationalize capturing, processing, andutilizing data to make timely decisionsthat improve products, customerexperiences, operational efficiency andcompetiveness.!
  6. 6. Data driven marketers outperform theircompetition!Source:  The  State  of  Marke0ng  2013,  IBM’s  Global  Survey  of  Marketers  
  7. 7. Many leaders in their categories are 
data-driven!
  8. 8. How Target identified a pregnant teenbefore her father did…!!!Demographics!Shopping patterns!Habits insights!!
  9. 9. Data [insight] driven decision makingdrives better business performanceand better customer experiences!
  10. 10. You’ve  Heard  It  All  Before  
  11. 11. Many organizations cannot get past thecommon hurdles to becoming data driven!Disparate data sets!!Data owned by different silos within the org!!Lack of funding!!Lack of time/resources!!Legacy operating rhythm!!!
  12. 12. ”Give  me  six  hours  to  chop  down  a  tree  and  I  will  spend  the  first  four  sharpening  the  axe.”  -­‐  Abraham  Lincoln  
  13. 13. “Data  driven”  needs  to  become  a  core  value  -­‐  part  of  the  DNA  of  the  organizaIon  …  
  14. 14. Embarking on your data driven journey!Transformation will not happen overnight!!Top-down vs. bottom-up effectiveness!!Requires cross-functional collaboration!!Combination of people, process, tools!!
  15. 15. Your organization needs a culturalchampion …!Prioritize the transformation!!Recruit a cross-functional steering committee!!Secure funding and executive support!!Protect and steward the transformation!!!
  16. 16. Or the underpants gnomes may end updriving your data strategy!
  17. 17. Or the underpants gnomes may end updriving your data strategy!
  18. 18. Curiosity  is  the  most  important  characterisIc  of  a  data  driven  markeIng  organizaIon  
  19. 19. Vital organizational and individualcharacteristics!Discipline   Rigor   ScruIny  
  20. 20. Putting standards in place – bolster ratherthan stifle creativity and innovation!Process   Governance  
  21. 21. The right mindset will lead to asking theright questions …!Breakthrough insights are rare!!Aim for frequent small incremental insights!!Try and remain unbiased, let the data speak on its own!!!
  22. 22. Developing data models!Ongoing hypotheses!!Test models!!Validate results!!Rinse and repeat!!!
  23. 23. Don’t trust all of your data …!Data often contains biases, inaccuracies, or errors!!Always assume margins of error!!Work within statistical significance!!Have the experts validate your approach!!!!
  24. 24. Analytics is everyone’s business!Map to business objectives and values!!Simple, data visualization!!Focus on the right KPI’s!!Impress and enable the C-suite!!
  25. 25. Driving business intelligence, beyondKPI’s and reports!Driven by business needs!!The right people internally or externally!!Systems/tools for BI!!!
  26. 26. Types of insights – PPRII 
(Prescriptive, predictive, reactive, informative, interesting)!AcIonable  High  Low  Ease  of  generaIon  Easy   Difficult  Prescrip0ve  Informa0ve  Interes0ng  Reac0ve  Predic0ve  
  27. 27. Data driven organizations do not relysolely on data!!Data + experience + gut!!Automate what makes sense!!Question and validate everything!
  28. 28. The right data infrastructure is a given!Centralized, open, flexible data warehouse!!Robust and scalable!!Data capture, management!!!!!!
  29. 29. 360 customer view!Two way data integrationsacross multi-channels!!Data is always updated, andaccessible for use!!Do not let your currentinfrastructure limitations 
hold you back!"
  30. 30. A9ribuIon  Challenges  and  SoluIons  Challenges:    Insufficient  Data    DuraIon  of  Buying  Cycle    Not  Absolute      30  Embrace the fire hose …!
  31. 31. How does big data fit in?!Too big for traditional data systems!!High frequency and scale of unstructured data !!Eventually, it will all just be data again"!!!
  32. 32. Hire the right team!In-house and/or external!!Requires experienceimplementing and managingdata and analytics systems!!Intense curiosity and thirstfor knowledge!!!!!Building the right team!
  33. 33. Data scientists are like financial quants!
  34. 34. Data scientists will soon have moredemand than supply …!Source:  Mashable  data  driven  marke0ng  organiza0on  survey  
  35. 35. Talent development – existing staff!Change mindsets, and behavior change follows …!!Marketers need to understand:!!what questions to ask""how to leverage data and data teams""the limitations and possibilities""
  36. 36. Identify one or two quick wins to rally theorganization!Demonstrate that the transformation is paying off!!Measurable impact within six months of implementinga new strategy and process!!Ensure significant visibility across the organization!
  37. 37. Visible executive sponsor!!Cultural champion!!Protect prioritization!!!!Create a sense of urgency!
  38. 38. Socialize the enterprise !!Promote healthy competition!!Reward positive behavior!Foster sharing and collaboration!
  39. 39. ”Experts  oRen  possess  more  data        than  judgment”  -­‐  Colin  Powell  
  40. 40. Where Does Social Fit in Your Media Mix?!Do you have a Foursquare strategy?!•  Can you sell on Facebook or Twitter? Should you makeuse of all the platforms – established and emerging –and how do you use them anyway?"•  Have you developed content for Vine?"•  How can you use the strengths of social to work inconcert with your other channels to maximize its impact? "Jason@agilitico.com@jasonheller

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