Big Data Marketing: Engage Your Customers More Effectively and Drive Value
Many of today's businesses find themselves caught in a snarl of internal data, paralyzed by internal silos, and executing antiquated marketing approaches. As a result, consumers are losing patience, shareholders are clamoring for growth and differentiation, and marketers are left struggling to untangle the massive mess. Big Data Marketing provides a strategic road map for executives who want to clear the chaos and start driving competitive advantage and top line growth. Using real-world examples, non-technical language, additional downloadable resources, and a healthy dose of humor, Big Data Marketing will help you discover the remedy offered by data-driven marketing.
- Explains how marketers can use data to learn what they need to know
- Details strategies to drive marketing relevance and Return On Marketing Investment (ROMI)
- Provides a five-step approach in the journey to a more data-driven marketing organization
- Author Lisa Arthur, the Chief Marketing Officer for Teradata Applications, the leader in integrated marketing software, meets with thousands of CMOs and marketing professionals annually through public speaking and events
Big Data Marketing reveals patterns in your customers' behavior and proven ways to elevate customer experiences. Leverage these insights to insure your business's success.
Foreword Thomas H. Davenport ix
I The Problem: How Did We Get Here? 3
1 Moving Out of the Dark Ages 5
2 Why Is Marketing Antiquated? 15
3 The Data Hairball 27
II Get Ready for Big Data Marketing 39
4 Definitions for the Real World of Big Data Marketing 41
5 Meet the Modern Marketing Department (Michelangelo Meets Einstein) 51
III The Five Steps to Data-Driven Marketing and Big Data Insights 67
6 Step One: Get Smart, Get Strategic 69
7 Step Two: Tear Down the Silos 85
8 Step Three: Untangle the Data Hairball 99
9 Step Four: Make Metrics Your Mantra 113
10 Step Five: Process Is the New Black 131
IV Realizing the Value of Big Data Marketing 147
11 Drive Value through Relevant Marketing 149
12 The Bright, Enlightened World of Customer Experience 167
About the Author 185
LISA ARTHUR is the Chief Marketing Officer for Teradata Applications, an integrated marketing software company. Teradata Applications provides consumer (B2C) and business-to-business (B2B) marketers with software applications and consulting to help navigate change. As the Chief Marketing Officer for Teradata Applications, Lisa serves as an industry thought leader driving Integrated Marketing Management (IMM) applications for Teradata Corporation (NYSE: TDC), the world's leading analytic data solutions company, focused on integrated data warehousing, big data analytics, and business applications. In her role, Arthur drives global business, market, and brand strategy and meets with thousands of CMOs and marketing professionals annually through public speaking and events.
She calls it “the big data hairball,” and with that descriptor alone, every business leader knows exactly what Lisa Arthur, Chief Marketing Officer of Teradata Applications, is talking about: Corporate data. Marketing data. Big data. All data. Data. Data. Data.
“Yes, endless data is a daunting challenge for modern business, alright. And with data increasing in volume, velocity and variety across every part of your company every second of every day, you need an enterprise-level strategy to ‘untangle’ the hairball; otherwise, you’ll never leverage the riches it contains to drive sustainable top-line growth, “says Arthur.
Business leaders know value is lurking within all that data; but how can they begin to turn data … into revenue? The good news from marketing veteran Arthur is: Your big data challenge can be addressed most readily by starting with marketing -- data-driven marketing, to be specific. And in her new book, Big Data Marketing: Engage Your Customers More Effectively and Drive Value (Wiley; October 2013; Hardcover and ebook; $30.00(US); ISBN: 978-1-118-73389-9), she gives readers a road map for doing precisely that.
Big Data Marketing is a priority read for executives, marketers and others who want to tackle big data and use it to improve customer experiences, show revenue impact and demonstrate the value of their own roles. After all, many of today's business leaders find themselves caught in an intensifying snarl of data. They’re also paralyzed by internal silos and hamstrung by outdated marketing approaches. As a result, consumers are losing patience, shareholders are clamoring for growth and differentiation, and marketers are left struggling to untangle what has become a company-wide problem.
In Big Data Marketing, Arthur draws on more than 30 years of technology industry marketing leadership and her current role as CMO of Teradata Applications, a division of Teradata Corporation, to provide a common-sense, step-by-step and proven approach to data-driven marketing adoption. Using non-technical language, a healthy dose of humor and real-world examples from companies like American Red Cross, International Speedway Corporation (ISC), KeyBank, and Designer Shoe Warehouse (DSW), among others, Arthur helps readers better understand and master the challenges and opportunities of modern big data marketing.
- How marketers can use data to learn what they need to know
- How to make metrics a business “mantra”
- The five fundamental components of a successful data-driven marketing strategy
- Strategies to drive brand relevance and Return on Marketing Investment (ROMI)
- Approaches to managing marketing spend, a company’s largest variable expenditure
- How to drive value through personalization, and other proven ways to elevate customer experiences.
“It’s high time to tame the beast and get strategic about how to tackle big data,” Arthur urges. “As companies put off formulating plans, data continues to stream in, creating massive tangles of information, processes and applications. Today’s business leaders need to confront big data head-on. Yet to do so, they must first have a clear view of the task ahead of them. If you’re ready to move your business forward, and bypass all the sensationalism and hype, Big Data Marketing is for you. Let’s start the conversation.”
Marketers and C-suite executives alike will benefit from this conversation, from the Foreword by industry luminary Thomas Davenport to the final word by Arthur herself. According to Davenport, “At the organizational level, some group of people needs to take the lead within companies in moving toward a data and analytics-focused culture. Marketing, as the function most impacted by the rise of data—and as the most frequent gatherer and user of customer data—is in an excellent position to take the lead and to lead by example.”
The book made its debut on October 14th at DMA2013, an annual global event for data-driven marketers. DMA2013 was held in Chicago, October 12-17, 2013. For more information about DMA2013 visit the conference website, http://dma13.org/