The New Drill
Marketers and technologists must collaborate to create data-driven innovation. By Paul Kramer. In this era of the ever-evolving chief marketing officer, it is no longer enough for them to steep themselves in the creative aspects of advertising. Consider, for example, that nearly two-thirds of the 600 brands recently surveyed by the CMO Club have either bought, or are planning to buy, programmatic media directly from demand-side ad buying platforms without assistance from their agencies. In other words, marketers believe they now have the necessary data at their fingertips to reach customers in the most effective way — so why not just cut out the middleman?
The results of this survey are a testament to the power of Big Data to transform not only the way in which brands communicate with consumers, but also the very role that marketers play in carrying out their fundamental responsibilities.
It’s quite possible that we’ve become so comfortable throwing around the term ‘Big Data’ that we’ve lost sight of what it really means. Data is much more than a commodity. It is not merely the fuel but also the very engine that drives creativity, innovation and change. This can be seen at the granular level, such as when customer feedback informs a new product design or marketing campaign; or on a larger scale, for example, when retailers use loyalty-card data to tailor store formats and merchandise to different consumer groups based on their previous purchases. In this way, data can enhance the brand experience, which, after all, is one of the primary goals of marketing. continue …