Modern day marketing demands right-brain thinking with a left-brain approach
Suits, scotch and cigarettes come to mind
when many people think about professionals in the marketing industry.
While the 1960s’ depiction of the advertising industry shown in the AMC
TV show Mad Men has garnered widespread critical acclaim, when compared
to today’s actual marketing landscape, the show no longer represents
reality. The role of marketing has truly changed. The creativity and
storytelling that is often associated with advertising and marketing are
no longer the only skills needed to succeed in the industry—and there’s
enough data to prove it. Today’s marketer has many more channels to
choose from, access to unprecedented amounts of data, and ultimately,
more responsibility across the entire organization. Needless to say, if
the 20th century was all about the creative, the 21st century is all
about the numbers. In order to succeed in this increasingly complex
world, it’s crucial that marketers adopt a data-driven approach that
perfectly mixes the creative and quantitative sides of marketing.
Put Data in the Driver’s Seat
We’ve all heard the old phrase “I know half of my advertising is working, I’m just not sure which half.”
The old problem of knowing that 50% of your
marketing is working, but being unable to figure out which 50%, is no
longer an accepted flaw. To manage the complexity of continuously
evolving marketing environments, marketers must coordinate channels and
strategies based on informed data insights. We may not be at a point of
100% certainty yet, but we have definitely evolved beyond the flip of a
coin. The science of data-driven marketing is the new industry standard.
It’s time for marketers to start putting Big Data to good use and find
actionable paths through the information. The challenge, however, is how
to utilize the seemingly limitless amounts of data to answer the
fundamental questions about return on investment. The end goal strikes
the perfect balance, combining the art of marketing—channel coordination
based on your audience’s behaviors across the customer life cycle—with
the science of marketing, which involves making investment decisions
based on desired business outcomes and informed by data insights.
Spoiler alert: The Internet is powerful. As
of last year, the Internet had reached 2.8 billion people, and the
amount of time that users spend online is continuously rising. While
it’s no mystery that millions of people are interacting online daily,
the key is in the digital DNA they’re leaving along the way. In today’s
digital age, everything generates data, and just about everything is measureable. From searches to clicks to “likes,” the amount
of data that is at the fingertips of marketers today is enormous.
Marketing has always been based on the relationship between behavior and
communications, but before the recent advancements in data collection, marketing strategies were based more on intuition than information.