Digital disruption is fundamentally changing the way marketers do their job and how they are being rewarded. You can either lead, watch or ignore it. Which will you choose? This challenge was staked by Lisa Arthur, CMO of Taradata Applications, in her new book Big Data Marketing: Engage Your Customers More Effectively to Drive Value
According to Arthur;
- The customer is now at the center of everything a marketer does
- Marketing is asking and listening rather than pushing a message as was done in the past
- Digital disruption has provided the tools a marketer can use to determine who is listening, what they are interested in and who they are sharing the message with. This information can readily be combined with information from customer service and operations to give business executives a real time picture regarding who is ready to buy what and when.
- Successful organizations will have one master data depository that is shared across the organization
- A team effort is essential. Marketers must tear down silos within their organization and partner with IT in order to succeed
- Marketers will be measured AND REWARDED ON their success in engaging customers. Rewards will be based on metrics shared throughout the organization.
- Metrics like ROI, ROMI, and ROMMI (return on marketing marginal investment) all will become common place to the marketer’ vocabulary in the future.
- Process is key!
Who should care?
- Any marketer interested in where the field is going and what it may look like in the years ahead
- Individuals in advertising agencies and vendors supporting marketing
- IT personnel that are or will be charged with working with marketers
- Financial executives that want to understand what can and should be measured and how best to partner with marketing .
- Business owners interested using new technology to drive success. Business owners concerned that they don’t understand Big Data.
Lisa has outlined a 5 step outline to data driven marketing and big data insights
- Get smart, get strategic
- Tear down the silos in marketing and within the company
- Untangle the data hairball – take it in pieces
- Make metrics your mantra
- Process is the new black – make it repeatable and quantifiable
Hear Lisa speak and get the book for free
Lisa will be discussing her book on December 10 in Indianapolis at the monthly meeting of the Indianapolis chapter of the American Marketing Association. You can register here. The first 100 registrants will receive a complementary copy of the book!! What a deal.
It will also be a great opportunity to meet other marketers and expand your network. (Full Disclosure – I am on the programming committee for the Indy AMA. We would love to pack the house for this event)
Until next time – all the best!