Tag Archives: Marketing technology

Big Data: Who owns customer and budget?

Though frequently at odds, marketing and IT executives agree that harnessing Big Data is imperative to building a customer-centric corporate culture, according to a study by the CMO Council, in partnership with SAS.

They also agree that a lack of CMO/CIO alignment, rigid silos, unclear responsibilities, and a lack of leadership impede an organization from using Big Data to its full potential, the survey of CMOs and CIOs found.

Big Data is important to achieving a customer-centric culture, according to the study:

  • 40% of marketers and 51% of IT executives said it’s critical for improved decision making.
  • 36% of marketers and 23% of IT execs said data drives the ability to personalize customer experiences.

Below, additional findings from the CMO Council study, titled Big Data’s Biggest Role, Aligning the CMO & CIO.

Access to in-depth data, and the ability to translate it into insights, is a competitive advantage according to 70% of marketers: 30% say it is critical, and 40% say it is part of the overall picture.

However, most respondents view the flood of incoming data as part obstacle and part opportunity: 61% of CMOs and 60% of CIOs say so, admitting they have a long way to go still in using Big Data properly.

The main challenge, according to 52% of marketers (and 45% of IT professionals), is that functional silos block aggregation of data from across the organization, making it difficult to truly achieve customer-centricity:

Moreover, 39% of CMOs say the corporate culture is not aligned around the needs of customers.

A likely explanation for the lack of total customer focus is that no clear ownership of the customer exists. Among marketing executives, 18% say that ownership rests with the CEO, 17% say the CMO, and 19% say sales. IT professionals assign ownership to the CEO (20%), CMO (19%), and sales (17%).

Organizations that report they have achieved total partnership between CMO and CIO also have clearer ownership of the customer.

In such organizations, marketers (24%) and IT professionals (30%) say the CEO owns the customer. Furthermore, marketers and IT executives in “total partnership” organizations are highly satisfied with their company’s ability to engage the customer (42% of marketers, 31% of IT execs).

Read more: http://www.marketingprofs.com/charts/2013/10574/marketing-and-it-big-data-an-obstacle-an-opportunity-and-key-to-customer-centricity#ixzz2RHLYXuwe

 

Spirits are up

In times of crisis it’s always hard to find a light at the end of the tunnel, but just as good times, hard times also come to an end! According to annual Decision Dynamics Survey by the Financial Times and Doremus optimism is rising among global executives around the world.

Across four key metrics—global economic conditions, local economic conditions, industry economic conditions, and corporate outlook—more senior-level executives project improvements over the next six months vs. the same period a year earlier some 41 percent are expecting global economic conditions to improve over the next six months, up from the 25% who did so a year earlier.  No more then 52 percent expect improvements in their own businesses over the next six months, up from the 39% who did so in 2011.

The outlook differs by geography: North Americans were the most optimistic overall, particularly about economic conditions locally and within their own industries. By contrast, Europeans were the most pessimistic, particularly regarding local economic conditions.

For the first time in nine years, senior execs ranked “improving market share/competitive position” (47%) as their top goal for the year. That shift pushed “cost cutting” into the No. 2 spot (43%), while developing/marketing new products/services (39%) ranked No. 3

Read more: http://www.marketingprofs.com/charts/2013/10470/worldwide-business-optimism-reaches-two-year-high#ixzz2PtMwzPdS

We have come a long way…

Marketing has come a long way. People have been selling things and services since early man. But how we market these things has changed a lot through the years and ages.

Modern marketing hasn’t been around that long, it started  at the early 20th century, according to Marketo. As we entered the modern industrial age, the amount of goods became greater than the number of available customers, and so did the competition because suddenly had a choice. Modern marketing was born.

In time, with the emergence of new technology, marketing had to adapt. First, radio shook up how companies did their marketing. Then television made a huge impact. Then the Internet revolutionized not only how people did business but also how they live.

To illustrate technological advancements that have changed the course of marketing, Marketo put together an infographic based on its The Definitive Guide to Marketing Automation.

 

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Drowning in data

The modern technology, and especially digital technology like e-mail, websites, mobile and social media, are a blessing for marketers. Not ever before were they able to gather so much data on what they do. But, this also comes with a danger. The flood of data is large, marketers are awash in data. Marketing analytics is the way to take control over this flood. In the 2013 Marketing Analytics Benchmark Report by MarketingSherpa the importance of marketing analytics is addressed.

Over 1.100 marketers are surveyed for this research. It provides insight into analytics for all kinds of marketing channels.

According to Marketingssherpa the surveyed marketers provided some interesting insights, and also highlighted areas where marketers could improve in taking advantage of this valuable marketing asset.

The availability of marketing analytics data is promising with 79% reporting having average, significant and even vast amounts of client interaction data to analyze. Only 3% reported having no analytics data at all. An overwhelming majority — 97% — of marketers have some amount of marketing analytics data to work with.

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Taming the Chaos of Distributed Marketing

Distributed Marketing

In a recent survey by the Aberdeen Group, 67% of respondents said their marketing operates in a distributed marketing environment. By the traditional definition, distributed marketing refers to a marketing model in which both a central corporate marketing department and “local” organizations or business units share authority and responsibility for making marketing decisions and performing marketing activities. The stereotypical example of a distributed marketing organization is a franchise network, but distributed marketing models exist in many kinds of organizations.

The reality is, most large companies, particularly global enterprises, use some form of a distributed marketing model. For example, marketing operations is many multinational companies are highly fragmented. Most global enterprises have regional or national marketing organizations in addition to a central corporate marketing department. These regional and/or local marketing organizations often play a significant role in the creation of marketing content and the execution of marketing programs. They usually hire their own language service providers for translation services, and they may also contract with marketing agencies to create original content or adapt “corporate” content for the local market.

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Are you already pinning?

All eyes are on Pinterest, the social network that lets users collect and share images found on the Web by “pinning” them on virtual pinboards. The images span a variety of categories, from fashion, crafts, cooking, décor, fitness, and more. Users can follow the pinboards of friends and brands for inspiration and “repin” the images onto their own pinboards.

Today, Pinterest is quickly becoming the fastest-growing social media site based on its huge popularity with women, as well as its unlimited potential as a marketing tool for businesses. “Pins” help companies promote their products, develop their brand personalities, drive tremendous referral traffic to their websites, and gain exposure among the Pinterest community.

In this video MDG Advertising shows the facts, figures, and findings from its popular “Pin It To Win It” infographic and shows why marketers should keep a close eye on this ‘new’ marketingchannel.

Common flavors and snake oil

Ross Graber serves as Research Director for the Marketing Operations Strategies service at SiriusDecisions. He brings over 15 years of marketing experience with focus spanning marketing measurement, demonstrating ROI, data management, process development, marketing technology, customer marketing and sales enablement. He sheds his light on measurement tools. “The web is littered with people who know best for you and your organisation. They think they know what your marketing measurement needs to be like and look like.”

But don’t be fooled, Graber says. “There’s way too much bad advice being dispensed from sources that you’d expect to be credible. Whether this advice is well intentioned or simply snake oil, b-to-b marketers need to be able to spot bad measurement advice and reject it.”

In his article Marketing Measurement Snake Oil he explains three key points which any marketer should consider when shopping for tools to measure your marketing.

 

 

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Operational Marketing Excellence – Your Top Ten 10 Critical Moves

If you are going to deliver Operational Marketing Excellence in your business you need to get your technology implementation right.

Here are the top 10 critical moves you should make.

How did we get so far?

The world is in a constant state of change. Technology changes even faster then we can blink our eyes. It isn’t that long ago computers were introduced and look at us now, all working in The Cloud. We all think of ourselves as highly technological developed, but by tomorrow we are out of date. Change comes fast, and will be coming even faster. Lattice Engines created this infographic exploring the most pivotal inventions that have revolutionized sales.
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Do you rely on hearsay?

Do you rely on hearsay when it comes to your marketingcampaigns? No you say? Feedback on your marketingcampaigns, showing results and measuring effectiveness. It sounds like every marketer would own one or more processes to do so, but do they?

Most senior marketers say they either have a formalized process or are using one when the situation calls for it. “But when it comes to the types of local market data used to impact campaign performance, those same marketers appear to be too reliant on ‘hearsay data’,” the CMO Council states in a new study.

Marketers are twice as likely to gather insights from field and business development teams as they are to examine online voice of customer listening and analysis (57% vs. 29%).

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