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.
What it really takes to become a data driven marketing organization
1. Where Does Social Fit in Your Media Mix?!
Do you have a Foursquare strategy?!
• Can you sell on Facebook or Twitter? Should you make
use 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 in
concert with your other channels to maximize its impact? "What it Really Takes to Become
A Data Driven Marketing Organization
3. Every
year
the
world’s
data
increases
by…
Petabytes,
exabytes,
ze9abytes,
yo9abytes
…
4. So, let’s first define a data driven
marketing organization …!
5. What does it mean to be data-driven?!
The culture and capabilities that
operationalize capturing, processing, and
utilizing data to make timely decisions
that improve products, customer
experiences, operational efficiency and
competiveness.!
6. Data driven marketers outperform their
competition!
Source:
The
State
of
Marke0ng
2013,
IBM’s
Global
Survey
of
Marketers
11. Many organizations cannot get past the
common 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. ”Give
me
six
hours
to
chop
down
a
tree
and
I
will
spend
the
first
four
sharpening
the
axe.”
-‐
Abraham
Lincoln
13. “Data
driven”
needs
to
become
a
core
value
-‐
part
of
the
DNA
of
the
organizaIon
…
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. Your organization needs a cultural
champion …!
Prioritize the transformation!
!
Recruit a cross-functional steering committee!
!
Secure funding and executive support!
!
Protect and steward the transformation!
!
!
20. Putting standards in place – bolster rather
than stifle creativity and innovation!
Process
Governance
21. The right mindset will lead to asking the
right questions …!
Breakthrough insights are rare!
!
Aim for frequent small incremental insights!
!
Try and remain unbiased, let the data speak on its own!
!
!
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. 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. Driving business intelligence, beyond
KPI’s and reports!
Driven by business needs!
!
The right people internally or externally!
!
Systems/tools for BI!
!
!
26. Types of insights – PPRII
(Prescriptive, predictive, reactive, informative, interesting)!AcIonable
High
Low
Ease
of
generaIon
Easy
Difficult
Prescrip0ve
Informa0ve
Interes0ng
Reac0ve
Predic0ve
27. Data driven organizations do not rely
solely on data!
!
Data + experience + gut!
!
Automate what makes sense!
!
Question and validate everything!
28. The right data infrastructure is a given!
Centralized, open, flexible data warehouse!
!
Robust and scalable!
!
Data capture, management!
!
!
!
!
!
29. 360 customer view!
Two way data integrations
across multi-channels!
!
Data is always updated, and
accessible for use!
!
Do not let your current
infrastructure limitations
hold you back!"
30. A9ribuIon
Challenges
and
SoluIons
Challenges:
Insufficient
Data
DuraIon
of
Buying
Cycle
Not
Absolute
30
Embrace the fire hose …!
31.
32. 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"
!
!
!
33. Hire the right team!
In-house and/or external!
!
Requires experience
implementing and managing
data and analytics systems!
!
Intense curiosity and thirst
for knowledge!
!
!
!
!
Building the right team!
35. Data scientists will soon have more
demand than supply …!
Source:
Mashable
data
driven
marke0ng
organiza0on
survey
36. 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"
"
37.
38. Identify one or two quick wins to rally the
organization!
Demonstrate that the transformation is paying off!
!
Measurable impact within six months of implementing
a new strategy and process!
!
Ensure significant visibility across the organization!
42. Where Does Social Fit in Your Media Mix?!
Do you have a Foursquare strategy?!
• Can you sell on Facebook or Twitter? Should you make
use 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 in
concert with your other channels to maximize its impact? "
Jason@agilitico.com
@jasonheller