THE EVOLUTION OF THE MODERN MARKETER TO SMARTER, FASTER DECISIONS
We live in a highly connected world where real‐time access to news, data, and information has transformed the way both people and businesses make decisions. More and more businesses are adopting technology to harness both the amazing amount of data available as well as to automate the execution of processes previously done manually. Marketing is no exception to this. With real-time bidding systems, ad exchanges, and “big data” projects, just to name a few, the focus of the marketer’s job is blurring with that of the CIO. With all this data, the risks remain high in what Eric Schmidt, then CEO at Google, termed the “last bastion of unaccountable spending.” And, the biggest risk is maintaining a focus on the consumer, while developing habits and adopting the appropriate technology to keep pace with a fast changing marketplace.
8. A large financial services firm was looking to optimize its marketing spend to acquire new
households at a cost effective price. Having recently increased its digital marketing efforts, the
company also wanted to measure the impact on short- and long-term financial performance.
And, all of this needed to be done considering the overall lifetime value of the households they
were targeting. By using consumer-centric planning software, the company was able to
quantify and provide in-depth analysis on how it’s measured and unmeasured marketing
activities, including digital, directly affected the addition of new accounts of varying value.
Additionally, it had actionable guidance on how much and where to invest its marketing budget
in the future to influence behavior within its target audience. The software also provided a more
agile and collaborative tool during the planning process to include the committee of principals
and managing directors as well as agency stakeholders in one central system for a more
streamlined planning and approval process.
As the marketplace continues to fragment, the risk is the consumer is slipping through the
cracks. Marketers spend too much time and resources investing in solutions to react to the
change, rather than embracing the fundamental shift that is occurring in the way they think
about and approach marketing planning. It’s becoming a world where the marketer needs to
think more like a CIO. They need to understand the information in front of them and put what’s
most important at the forefront – the consumer – to drive technological advancement that
integrates, automates, and streamlines the marketing process from research and planning to
collaboration and execution. From Schmidt’s warning, an age of marketing empowerment has
risen that will drive the evolution of the modern marketing world where every decision is
accountable and starts and ends with the consumer.
To speak to someone at ThinkVine to learn new ways to put the consumer at the center of your
marketing planning process, visit www.thinkvine.com or call + 1.513.842.5900
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