According to eMarketer, most executives worldwide are using data to make decisions – and spending on data-driven marketing in particular is set to rise. With 40% of company leaders surveyed by the Data & Marketing Association and the Winterberry Group expecting data-driven marketing to positively impact revenue, it’s no surprise that so many marketers are focusing on this approach.
In today’s always-on world, data-driven marketing is a difference-maker.
Being data-driven is why the world’s most valuable brands have achieved that distinction. These companies recognize that winning in today’s environment means focusing on differentiated, consistent consumer experiences across channels to effectively monetize their customer data.
To lead a brand’s transformation to successful data-driven marketing, CMOs must also adapt.
Marketing leaders cannot just be the brand managers and pure marketers of yesteryear. Today, CMOs must also act like technologists as they use more and more data and make larger, more frequent technology choices. This adjustment may not be easy but it is necessary for CMOs to effectively lead their organizations in changing how they market to today’s channel-hopping consumers.
To help marketing executives understand how and why their role is changing, we’ve put together a new executive brief, The CMO as Data Scientist: Experimenting & Winning with Data-Driven Marketing. It explains not just what data-driven marketing is, but also how it creates important benefits like competitive differentiation, customer loyalty and brand value. Additionally, it outlines six specific, concrete steps marketing executives can take to become more data-driven in their marketing efforts.