Essays on Are Marketers Being Too Obsessed With Data Case Study

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The paper "Are Marketers Being Too Obsessed With Data" is a good example of a Marketing Case Study. In this digital era, the marketing field has evolved where marketers have been able to access huge data to conduct market analyses on customer trends as well as get insights on the performance of a brand in various markets. Industries that pioneered big data have reaped substantial benefits via increased sales and wide coverage through advertising. In spite of the benefits realized by the use of big data in marketing, there has existed a big struggle between overreliance on big data and creativity.

This paper examines the effects of overreliance on big data, citing the pros and cons of big data. The paper gives detailed analyses of what marketers miss when they solely rely on big data in their analyses, giving a plausible solution to the threat posed by this overreliance. To begin with, this paper explores some of the benefits realized through data-driven marketing. Such benefits include marketing attribution, personalization of marketing messages, sales funnel visibility, pre-targeting, and strategic insight. Further, this paper explores the frequently highlighted contentions against data obsession by marketers.

The major cons of overreliance on big data by marketers include disregarding creativity which is a core driver in marketing success as it enables marketers to understand what prompts customers to behave in a given way. Creativity offers a humanistic experience with the customers, giving marketers insights on how to use the data they have to the success of the marketing process. Other cons of overreliance on data include lack of information, difficulty to extract data from different systems and issues with completeness and accuracy of data. Finally, this paper gives a set of recommendations that marketers should employ to realize an effective marketing experience in this data-driven era.

In order to realize a holistic experience in marketing, marketers should employ outside the box offense where they choose the most plausible option according to circumstances, blending data with creativity and employing the Intelligence Brand Framework to find a balance in marketing strategies. Introduction To most marketers, access to big data has become instrumental in achieving various goals such as market analysis and brand promotion.

Data-driven marketing entails the practice of employing market data to achieve the goals of marketing enabling the quantitative measurement of results via the engagements of customers ultimately translating to greater value for the business (Blattberg, Glazer & Little, 2012). According to marketers, information about customer trends, patterns, their interactions with the sales process and social media activity is readily available and accessible. Marketers assert that this data has enabled them to utilize customer behavior to develop focused campaigns. Additionally, marketers feel that the availability of data enhances the measurability as well as the effectiveness of the marketing campaigns.

Despite these benefits, most marketers have solely depended on data-driven marketing, giving no room for creativity which has eroded the humanistic aspect of marketing. This paper will thus explore the effects of overreliance on data-driven marketing, citing plausible recommendations to blend both creativity and data-driven methods to achieve a holistic experience in marketing (Postma, 2012). According to most of these marketers, there are several advantages tied to data-driven marketing.

References

Blattberg, R. C., Glazer, R., & Little, J. D. (2012). The Marketing information revolution. Boston, MA: Harvard Business School Press.

Blattberg, R. C., Kim, P., & Neslin, S. A. (2008). Database marketing: Analyzing and managing customers. New York: Springer.

Burby, J., & Atchison, S. (2007). Actionable web analytics: Using data to make smart business decisions. Indianapolis, IN: Wiley Pub.

Jeffery, M. (2010). Data-driven marketing: The 15 metrics everyone in marketing should know. Hoboken, NJ: John Wiley.

Postma, P. (2012). The new marketing era: Marketing to the imagination in a technology-driven world. New York: McGraw-Hill.

Ryan, D., & Jones, C. (2009). Understanding digital marketing: Marketing strategies for engaging the digital generation. London: Kogan Page.

Sorofman, J., & Frank, A. (2014, February 25). What Data-Obsessed Marketers Don’t Understand. Retrieved May 13, 2016, from

https://hbr.org/2014/02/what-data-obsessed-marketers-dont-understand

Tapp, A. (2008). Principles of direct and database marketing: A digital orientation. Harlow: Financial Times Prentice Hall.

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