what it really takes to become a data driven marketing organization

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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

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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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Page 1: What it really takes to become a data driven marketing organization

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

Page 2: What it really takes to become a data driven marketing organization

What you will not hear over the next 40 minutes …!

Page 3: What it really takes to become a data driven marketing organization

Every  year  the  world’s    data  increases  by…  

Petabytes,  exabytes,    ze9abytes,  yo9abytes  …  

Page 4: What it really takes to become a data driven marketing organization

So, let’s first define a data driven marketing organization …!

Page 5: What it really takes to become a data driven marketing organization

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.!

Page 6: What it really takes to become a data driven marketing organization

Data driven marketers outperform their competition!

Source:  The  State  of  Marke0ng  2013,  IBM’s  Global  Survey  of  Marketers  

Page 7: What it really takes to become a data driven marketing organization

Many leaders in their categories are data-driven!

Page 8: What it really takes to become a data driven marketing organization

How Target identified a pregnant teen before her father did…!

!

!

Demographics!

Shopping patterns!

Habits insights!

!

Page 9: What it really takes to become a data driven marketing organization

Data [insight] driven decision making drives better business performance and better customer experiences!

Page 10: What it really takes to become a data driven marketing organization

You’ve  Heard  It  All  Before  

Page 11: What it really takes to become a data driven marketing organization

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!!!!

Page 12: What it really takes to become a data driven marketing organization

”Give  me  six  hours  to  chop  down  a  tree  and  I  will  spend  the  first  four  sharpening  the  axe.”  

-­‐  Abraham  Lincoln  

Page 13: What it really takes to become a data driven marketing organization

“Data  driven”  needs  to  become  a  core  value  -­‐  part  of  the  DNA  of  the  organizaIon  …  

Page 14: What it really takes to become a data driven marketing organization

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!!

Page 15: What it really takes to become a data driven marketing organization

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!!!

Page 16: What it really takes to become a data driven marketing organization

Or the underpants gnomes may end up driving your data strategy!

Page 17: What it really takes to become a data driven marketing organization

Or the underpants gnomes may end up driving your data strategy!

Page 18: What it really takes to become a data driven marketing organization

Curiosity  is  the  most  important  characterisIc  of  a  data  driven  markeIng  organizaIon  

Page 19: What it really takes to become a data driven marketing organization

Vital organizational and individual characteristics!

Discipline   Rigor   ScruIny  

Page 20: What it really takes to become a data driven marketing organization

Putting standards in place – bolster rather than stifle creativity and innovation!

Process   Governance  

Page 21: What it really takes to become a data driven marketing organization

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!!!

Page 22: What it really takes to become a data driven marketing organization

Developing data models!

Ongoing hypotheses!!Test models!!Validate results!!Rinse and repeat!!!

Page 23: What it really takes to become a data driven marketing organization

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!!!!

Page 24: What it really takes to become a data driven marketing organization

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!!

Page 25: What it really takes to become a data driven marketing organization

Driving business intelligence, beyond KPI’s and reports!

Driven by business needs!!The right people internally or externally!!Systems/tools for BI!!!

Page 26: What it really takes to become a data driven marketing organization

Types of insights – PPRII (Prescriptive, predictive, reactive, informative, interesting)!

AcIo

nable  

High  

Low  

Ease  of  generaIon  Easy   Difficult  

Prescrip0ve  

Informa0ve  

Interes0ng  

Reac0ve  

Predic0ve  

Page 27: What it really takes to become a data driven marketing organization

Data driven organizations do not rely solely on data!

!Data + experience + gut!!Automate what makes sense!!Question and validate everything!

Page 28: What it really takes to become a data driven marketing organization

The right data infrastructure is a given!

Centralized, open, flexible data warehouse!!Robust and scalable!!Data capture, management!!!!!!

Page 29: What it really takes to become a data driven marketing organization

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!"

Page 30: What it really takes to become a data driven marketing organization

A9ribuIon  Challenges  and  SoluIons  

Challenges:    Insufficient  Data    DuraIon  of  Buying  Cycle    Not  Absolute      

30  

Embrace the fire hose …!

Page 31: What it really takes to become a data driven marketing organization
Page 32: What it really takes to become a data driven marketing organization

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"!!!

Page 33: What it really takes to become a data driven marketing organization

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!

Page 34: What it really takes to become a data driven marketing organization

Data scientists are like financial quants!

Page 35: What it really takes to become a data driven marketing organization

Data scientists will soon have more demand than supply …!

Source:  Mashable  data  driven  marke0ng  organiza0on  survey  

Page 36: What it really takes to become a data driven marketing organization

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""

Page 37: What it really takes to become a data driven marketing organization
Page 38: What it really takes to become a data driven marketing organization

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!

Page 39: What it really takes to become a data driven marketing organization

Visible executive sponsor!!

Cultural champion!!

Protect prioritization!!!!

Create a sense of urgency!

Page 40: What it really takes to become a data driven marketing organization

Socialize the enterprise !!Promote healthy competition!!Reward positive behavior!

Foster sharing and collaboration!

Page 41: What it really takes to become a data driven marketing organization

”Experts  oRen  possess  more  data        than  judgment”  

-­‐  Colin  Powell  

Page 42: What it really takes to become a data driven marketing organization

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? "[email protected]

@jasonheller