Sales and Marketing Seminar: Inside the Head of a Data Driven Marketer (Slides)
Monday, July 29, 2013
We all know how important data is these days to facilitate lead conversion and drive revenue, and we have access to overwhelming amounts of it. So why is it that marketing analytics continues to be such a struggle? There is a tremendous gap between having data and defining the key metrics you want to use to run your demand generation engine beyond lifetime value (LTV) and Cost of Acquisition (COA).
The seminar took a deep dive into the heads of three data-driven marketing experts, revealing the tools, systems, processes and strategies they use to get the job done:
•How to work with application groups and vendors to get the data you need
•Defining key performance metrics and separating them from the noise
•Managing the flow, transfer, and analysis of data into key tools and systems
•Setting expectations and communicating results and insights to stakeholders
Christopher Penn, VP of Marketing Technology at SHIFT Communications, kicked off the morning by asking "what is big data?”. Referencing Tom Webster, Edison Research, it's "any data that you don’t have a story for or doesn't fit on an Excel spreadsheet.” He then migrated the discussion to why data-driven marketing fails: 1. Asking bad questions of good data 2. Having the wrong focus 3. Assuming what = why. View Christopher's presentation below.
Next, Raj Vysetty, Manager of e-commerce & Analytics at DYN, presented three classes of analytics:
1. Known-Known’s = reporting
2. Known-Unknown’s = analysis
3. Unknown-Unknown’s = exploration
Raj shared DYN’s data sources and tools including Google analytics, Zuora, salesforce.com and SimplyMeasured for social data. Some of the more strategic metrics DYN looks at: % of revenue vs % of customers, time to upsell contracts, discounting vs. monthly price and cross-sell ratio. View Raj's presentation below.
Prashant Kaw, Inbound Marketing and Operations at SmartBear Software presented on cultivating a "feed the bear”. Everyone in your organization has to know the metrics that drive your biz - from most senior to its junior members. Prashant shares his marketing technology stack led by HubSpot, InsightSquared, Salesforce and yes, Excel. The takeaways from Prashant’s presentation are: develop a culture of monitoring, define top metrics and don't be afraid to go granular. View Prashant's presentation below.