From the DMA: Mar-Tech Future Merges Data and Humanity
When it comes to the future of marketing analytics, research shows a great deal of growth is in store—the kind of growth that enables digital innovations and conveniences that seemed like science fiction not so long ago. IDC predicts the market for analytics and big data will reach $125 billion this year, while spending on cloud-based analytical solutions will grow three times faster than for on-premise solutions over the next five years. Futurist Deborah Schultz has predictions of her own, and she shared her insights with a packed house of marketing professionals during her opening keynote this morning at DMA's 2015 Marketing Analytics Conference (MAC) in Chicago, which runs through March 11.
Schultz envisions a world where data, analytics, and the physical world are all connected, to the great benefit and convenience of consumers. More than anything, marketers must ensure that the data they use is helpful to the consumer. "If you have data on me, make sure that using it matters to me and creates value for me," she said. As an example, Schultz described a world in which a GPS app Waze in a car is linked to the driver's connected home, which in turn is outfitted with networked, smart appliances. The next time the driver is stuck in traffic, the car's app signals the coffee machine to wait 15 minutes before turning on. The result? The coffee is nice and fresh when the driver gets home. "That is helpful—and human," Schultz said.
Peppering her remarks with humor, Schultz urged attendees to get in touch with their own humanness and to remember the people behind the data they are collecting. "I'm not the speaker to give you a how to, I'm here to remind you of your humanity," Schultz said. "Why is it when we enter our cubes we forget how to be people? I blame the lighting!" The human factor, she pointed out, is what endures, while technological innovation is constantly shifting. "Technology changes, humans don't," she said.
Schultz noted that marketing has evolved from a race to garner sales to a realization that providing engaging customer experiences is a vital factor of success. "We're moving from clicks to attention to intention with the consumer," Schultz said. "Markets are conversations, not marketing. One thing marketers forget, you build your networks BEFORE you need them."
With all the noise of constantly proliferating data, it can be challenging for marketers to get their messages heard. With this in mind, Schultz urged marketers help make consumers smarter about their own lives rather than focusing on completing a transaction. "We're living in the age of the death of the grand gesture," Schultz said. "Stop selling me stuff. Use data to become a trusted advisor in my life."
The MAC keynote lineup includes presentations from top industry experts, including:
Russell Glass: Marketing's Rise in Corporate Influence
- LinkedIn's Glass says that CMOs will be front and center in the next generation of company leaders because of their understanding of data and how critical it is to serving current customers and bringing in future revenue. "Businesses that are smart enough to develop internal teams that can bring together data sets from separate areas such as marketing, customer service, and sales, will be the ones who have an edge over the competition." Glass will explain how to harness the powerful flow of digital data to enable companies to analyze customers, identify prospects, and drive greater revenue.
Winning by the Numbers: 525 CMOs and a Data Scientist's Perspective on Marketing Analytics
- IBM's Aimee Stone Munsell and Jing Shyr will share actionable insights from the IBM Global CMO Study, in which 524 CMOs were interviewed on the growing trend of customer-centricity. The report highlights the opportunities and challenges CMOs face in today's swiftly changing marketplace, as the digital transformation enables marketers to leverage data to gain greater understanding of customers and deliver greater relevance. Attendees will learn how to use these insights and apply marketing analytics strategies that will increase greater business success.
Roundtable Panel with Leading Brands: SAS, Blue Cross Blue Shield, BBVA Compass Bank and RCI/Wyndham Exchange
- In this lively and interactive keynote discussion, Adele Sweetwood, VP, Americas Marketing & Support, SAS Institute, and a panel of experts from BBVA Compass Bank, RCI/Wyndham Exchange, and Blue Cross and Blue Shield of North Carolina, will use real-world examples to show attendees how to use analytics to meet the growing demands for customer-centered activities and drive results. Panelists will explain how marketers how to lead their organizations to faster, better decisions requiring skill, agility, resourcefulness, and above all, analytics.
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