Data First Approach Transforms Marketing
Traditional marketing planning takes a systematic approach to identifying strengths, opportunities, weaknesses, threats and the activities needed to meet key objectives.
This approach asks difficult questions and provides a necessary starting point but plans becomes increasingly obsolete as time passes and conditions on the ground change.
Today's fast paced business environment requires a more agile approach to identifying emerging opportunities, treats and the marketing activities needed to succeed.
What is a Data First Approach?
Simply put, a data first approach requires the identification, resolution of data gaps and key performance metrics during the business and requirements phase.
Traditional methods look for data as a proof of result. Consequently, data gaps are either unidentified or overlooked entirely as data is used to support predetermined outcomes.
What are the benefits of Data First?
Taking a data first approach transforms marketing in the following ways:
- Identifying data (knowledge) gaps early on enable management to understand the value of missing intel and prioritize next actions for closing gaps.
- Continual data collection and analysis increases the organizations agility and empowers marketing to evolve activities as conditions on the ground change.
- Historical data and supporting systems ensure that the organization does not lose institutional knowledge due to personnel changes.
- Establishing key performance indicators early on allows marketing to align activities to goals and keep the team focused on key objectives.
Data is the voice of your customer, the market and your business. Taking a data first approach empowers your organization to continually improve listening skills and transform marketing.
Do not spend resources on what you think is happening, rather spend resources to learn what is really happening.
B2B companies spend between 7.1% and 10.5% of their marketing budget on analytics.
B2C companies spend between 8.6% and 13.3% of their marketing budget on analytics.
- The CMO Survey
Data Science as a Service (DSaaS)
Convert data into your competitive intel with these Data Science as a Service (DSaaS) offerings.
- Data Modeling
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