Tag Archives: Big data

Why Your Marketing Job Is Safe

A lot of folks who thought they were in marketing are finding out that they’re really computer scientists. That’s a shame in my book. Surprised I’d say that after all of the rants in this space about the need to measure actionable data? Let me explain what I mean and how I think there will always be a place for real marketers.

English: A business ideally is continually see...

(Photo credit: Wikipedia)

Computers and the data they can generate are really good at many things. I, for one, am very much looking forward to the day when they are driving all of our cars. One thing at which computers suck is creativity. They provide great creative tools like Photoshop, but the ability to create is intrinsically human, in my book. They aren’t great at improvising. They can’t “pretend.” I’ve not heard of them mashing up a couple of concepts into a third. Yet those tasks are the essence of great marketing.

We are complex creatures. There are things within the human mind and character that no computer can understand. They might get the “what” (actions you took) but most of us in marketing are interested in the “why” at least as much. It’s great that, as recent research found, 92.3% of respondents said they maintain databases to host information on customers or prospects, at least to some extent. I wonder if that data dependency is replacing the human side of marketing.

I like this quote from a recent article by someone at Adobe:

Buyers’ behavior isn’t always rational. People make strange decisions that defy neat algorithmic understanding. Often, customers are not simply looking for the highest-quality product for the lowest possible price. Indeed, the burgeoning field of behavioral economics is revealing on an almost daily basis how irrational consumers can be—and how seemingly irrelevant factors can influence purchasing decisions. Savvy marketing adapts to these nuances.

Exactly.  Computers don’t do irrational. We do need to use data as a tool, but we can’t assume that our jobs are done because we’ve got a system that aggregates and reports.  We can’t dive so deeply into data that we drown in it.  Computers can’t do marketing well because they lack the skills that make great marketing: intuition, creativity, innovation, compassion, and imagination.  You might think your marketing job has morphed into that of a computer scientist, and if it has, you have a problem.  Great marketers know how to use those tools within the context of the human to human interactions that make business flow. Do you?

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Filed under Helpful Hints, Huh?

Who’s Working For Whom?

Ever encounter a situation where things seem backwards? Maybe you’ve seen a parent being told what to do by a child or a customer being berated by a service rep. It makes you wonder who is in charge or who is working for whom. I have another thought along those lines today, and it has to do with data. There was a post from AdAge by their data reporter, Katie Kaye who wrote the following about the NY Times piece on Amazon: 

The article should inspire us to question the value of decisions based entirely on data to create business efficiencies at the expense of human empathy and the arguable imperfections that can benefit any organization or project.

I like that. It makes you ask who is in charge here: the humans or the numbers. We all ingest more data than we can consume, and, unfortunately, some of us allow that massive intake to be regurgitated as unconsidered decisions. That’s a bad idea. The data is there to serve us, not the other way around.

I’m the first to say that we need lots of data. Without impartial feedback, we’re flying blind, and data can help us make better decisions. The key there is “help US”.   Data without the context of a plan is useless. Data that’s not actionable is useless.  Data that causes us to overreact, however, is  dangerous.  If you watched any election coverage last night, you probably heard a lot about early results and the need to wait for data from key precincts.  How many times has someone in your organization overreacted to an early piece of data, only to find out that it was not at all typical of the overall results?  We need a plan, we need context, and we need a little patience.

When we chase after outliers, we’re working for the data.  That’s backward.  Data, and all the other technological tools in our arsenals, needs to work for us.  Make sense?

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Filed under Helpful Hints

CPT

Making sense of data is really hard, and making sense of data from multiple sources which report in different ways is damn near impossible. Once again, we in the world of marketing are our own worst enemies, I guess. We could learn from our friends in finance.

Pick up any financial report and you’ll see the same statistics, generally reported in the same manner. That manner is GAAP – Generally Accepted Accounting Principles. While CFO’s and analysts have a little leeway within those principles, usually when you look at a piece of data for one company, something labeled the same way for another company means the same thing.

Not so in marketing. I mean, we do try. CPM has always been a measure of efficiency in media. The problem is that there are lots of ways to get to that number, especially in digital. Number of banners displayed? Number of viewable banners displayed? Should it just default to the impressions for which I’m being billed or do I want to factor in things such as actions taken (clicks, etc.)?

I think we need something like a Cost Per Touch metric. This would something standardized and would factor in the number of touch points across all media. An engagement on social media is counted just as is a video watched (you can decide the relative values of each). Actually, I don’t care what we call it but we need something akin to GAAP in the world of marketing data – something that can align web analytics, SEM numbers, social touch points, customer service, etc. Something that can help us to make sense of all of those disparate sources of big data.  Once we’ve standardized all of these things, all the other activities which depend on them become more efficient and productive.  Of course, it also means that there isn’t anyplace to hide since we can’t manipulate the numbers past a certain point.

Your thoughts?

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Filed under Consulting, Thinking Aloud