In this week’s very entertaining CMO Perspectives, we share an amusing post by Marketoonist.com about the dangers of listening to your own opinions. Just the opening cartoon will be enough to make you smile, as we’ve probably all been there, with a senior manager who seems to think he or she knows more about your teenage customers than your own data and research has shown. We also remind you not to forget the small data when looking at the big data with a piece from mediapost.com. Enjoy!
JetBlue recently created quite a buzz with their interactive "A Better Wingman" display in New York City. It was innovative in its approach and the main reason it resonated with the public was that it had customer interaction and feedback at its heart. Those patient enough to play along received free airline vouchers and a hug from the crewmember who came out from inside the display. It's just one example of why the best marketing campaigns always put customer experience first.
For a CMO who needs to show ROI on marketing spend, waiting for big data to come through might not be an option. Here is an important post from Jeff Hassemer [mediapost.com], reminding you not to forget about small data. As he says, "the saying can’t see the forest for the trees applies in spades to big data. While data teams everywhere work with developers and big data vendors to ingest, organize and utilize big data, marketers are left wondering when they’ll start reaping the rewards. In fact, in a recent survey by IDG, few marketers were even thinking about getting ROI from their big data investments any time soon." Don't get caught the big data trap when planning your marketing campaigns.
Integrate Your Programmatic Strategy: Focus on the Customer Journey [fourthsource.com]
The era of modern marketing focuses on data and analytics, giving us unprecedented insights into consumer habits, preferences and desires. Unfortunately many companies don't understand the two key things you need to successfully manage and execute the best marketing strategies. First is to streamline your technology into an integrated stack so that you can gain better control. Then once you have the right tech stack integrated, you must incorporate the right strategy. It’s best to take a holistic approach that focuses on the entire customer journey.
With a refreshingly humorous approach to marketing and customer experience topics, Marketoonist have posted this great piece about the dangers of listening to your own opinions instead of referring to data and testing to help you make better marketing decisions. As they say, we all juggle multiple devices and know our own personal experiences. But all personal experiences are not created equal. To assume that what works for a middle-aged CMO will work for a teenage girl consumer target is lunacy, but it’s common in conference room conversations to hear that type of personal justification for a decision.
We've all considered using them, in fact some of us swear by them; we are talking about loyalty programmes. In fact, an as yet unchallenged Harvard Business Review article from 1990 argued that by retaining just 5% more of its existing customers a company could double its profits within five years. Here Jed Mole talks about five things that retail brands should consider when using customer loyalty programs.
We hope you enjoyed this week’s CMO Perspectives, be sure to respond in the comments or tweet us