Written by GoodData Author |
Modern marketers are still burning the midnight oil to connect the dots between their most critical digital and analog channels.
If you’re like most marketers, your analytics resources are tapped out each week. This month we had the opportunity to interview almost 20 successful CMOs and digital marketing leaders to hear what’s literally keeping them up at night. We were dismayed to learn that many of the CMOs are still making investments based on siloed reports and their teams of analysts are working around the clock to “hack” together some semblance of a cross-channel dashboard for their executives.
Many of these marketers are supporting global organizations, operating across multiple brands with varying audience demographics - so you can imagine their data landscape is what some may call … a disaster. Hence why their analysts are spending more than 25 hours per week manually mapping their data together in Excel to deliver the weekly reports.
Apples and Oranges are Tough to Relate
There were many common themes that we uncovered from our CMO interviews, but one of the most salient points was the fact that understanding how to correlate the relationships between the 20+ channels that they’re using is like trying to find the relationship between apple and oranges. Although on the surface they appear to be completely disconnected, you may be surprised to find out that these two foods actually originate from the same kingdom, class and division of fruit.
Similarly, in the world of marketing, the correlations between how customers behave on all of these disparate channels do exist - they’re just difficult to see sometimes. Especially if you’re trying to connect digital information with revenue data and third-party industry benchmarks, like Nielsen.
The result? Siloed, disconnected reports without real insights about how, why and where CMOs should be making smarter investments, handcuffed by the drag of a repeatedly manual report assembly process
Data Hacking: A Newly-Required, Secret Marketing Superpower
When you think about the required skills and experience of a CMO or digital marketing professional, “data hacker” is probably not the first line item that comes to mind. It does, however, carry more weight than some of the other (more common) skills because analytics are so critical to get the job done.
In “The Age of the Customer,” information about the consumer’s preferences and behaviors is the most important asset that a marketer has to manage their digital strategy. So important that many CMOs are allocating more than 75% of their budget to digital to further fuel this behavior.
Automation Gives You Stronger, More Predictable Wings than Red Bull Can
At the end of the day, the best marketing hacker is still more expensive than a solution that can automate the analytics and attribution of your digital marketing campaigns. Not only from an operational point of view, but also from the perspective that the time they spend on those regular reports is coming at the expense of the exploratory work that they should be focusing on.
At GoodData, our mission is to free your mind from the worry and fatigue of those regular executive reports and guide you to the next “Aha!” moment so that you can actually get some sleep at night. Plus, with constant access to those insights you will always be tweaking your working media mix to make that 75% of the budget you get go a lot further.
We know that Red Bull can theoretically give you wings, but by pulling all of your digital marketing analytics into a single system you can uncover a whole slough of impressive superpowers - it’s like doing from data zero, to GoodData hero.
Written by GoodData Author |