Data-driven Marketing vs. Conventional Marketing
Areg Kocharian
Business Operation l Digital Transformation l Data integration I Business Intelligence l Data Oriented Marketing Ecosystem Implementation
Chapter 4?
Infrastructural Needs?
Data-driven marketing idea is in truth, the same concept of a data driven organization, due to the irrefutable fact that this methodology affects almost all major departments or sections of a corporate.
To elaborate further, let’s have a interim topic change and once more review the influence or the impact of a data-driven culture on the performance of the corporates, by briefly dissecting an article published by McKinsey, on 2014, resulted from a straightforwardly designed survey.
400 high level managers of international giant firms in multiple industries, were interviewed and were asked to rate their organization around two subjects:
1.?????Position Vs. Competitors
2.?????Extent of customer analytics usage
The following results, clearly points out the conclusion that can be reached.?
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Extensive users of customers data analytics, have a greater chance to outperform the market.?
So, the impact on the metrics seem to be quite distinctive, between the two groups. But did you notice that various department may contribute in performance of these metrics, for instance Finance in ROI or Profit, front line sales executers in sales growth and so on. So not only the marketing affairs need to be driven by data, but all the other functions need to comprehend, embed and cooperate in a data oriented corporate.?
For this purpose, a multipurpose data management system is essential to propel the firm toward securely toward data marketing, considering that while an Enterprise Data Warehouse (EDW) is vital for consolidating the customers data, captured in any format, type or channel.
A typical framework and interactions between units of a data driven marketing, can be demonstrated as below the outline, while several other functions, such sales team, operation and finance are all have been instructed and briefed about the value that this potential costly layout offers.?