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CMO/Marketing Strategy • Marketing Operations
Sir Isaac Newton said it best: “For every action there is a reaction.” Reactionary behavior permeates everything we do (much like Sir Isaac’s gravity). The real challenge of marketing is to differentiate yourself from all of the other falling apples—to become a predictor rather than a reactor. Learn how to do this and you’ll be the one everyone else is reacting to.
Rising to this challenge of precognition are a number of trends in marketing analytics: data analysis, geospatial analysis, and visualization. In a nutshell, you have to inspect, clean, transform, and model data in ways that reveal useful patterns or suggest courses of action. And you’ve got to present the data in a way that tells a story to your business users and executives. That’s where visualization comes in. A well-visualized slice of geospatial data takes what was once essentially a spreadsheet (and not a particularly exciting one) and offers impressions, trends, analysis—in other words, a story of consumer behavior.
Which of the following images gives a better jumping off point for discussion of customer spending and strategies to predict it?
Even out of context, Figure 2 engages us. We want to understand it and we begin formulating thoughts about the map and the data presented. Effective marketing analytics strategy isn’t just about data; it’s a creative act, requiring input that sparks innovative thought.
It’s one thing to know that customers are buying. It’s another thing altogether to know the Who, What, and When. Adding the above comprehensive picture of the Where and these four Ws will help uncover the final W of marketing: What Next?
Because let’s face it, you’re probably employing a wide range of marketing techniques at any given time. Until you know which one(s) client spending is actually responding to, how do you follow up? The answer is in the data—and there are plenty of business intelligence (BI) and data warehousing (DW) firms compiling vast data sets.
But many are in the business of simply compiling; it’s more data than you can imagine, much less to act on. The key is to find the business challenges underlying the data, to turn raw information into actionable insights.
Just because Newton sat idle until the proverbial apple fell, don’t think for a minute that you should wait for opportunity to strike you. Stand up and shake that tree. Assuming you’ve done your research, you’ll get quite a reaction!
Glenn Facey is the VP of Business Development and Marketing at Claraview, where he achieves business growth through building teams and relationships with Fortune 500 companies and the public sector. He possesses deep cross-functional experience in consulting, sales, business intelligence (BI) and analytics, marketing, organizational effectiveness, and working across organizations to ensure that business value is delivered to internal and external clients.VN:R_U [1.9.7_1111]Leveraging Marketing Analytics to Make Campaigns Predictive, Not Reactionary,
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