Not many of us would want a job requirement that included, “Pave the Ocean”. After reading a white paper about the evolving realm of marketing analytics by a respected technology firm, the thought crossed my mind: They are being set-up for a lot of paving.
The white paper defined marketing’s evolving scope of pursuit:
“We must gain a 360-degree view of each customer by tapping into relevant information about every interaction they have with our brand—whether online or offline, from their smartphone, wearables, in-store visit or anywhere in between. We must analyze that data to understand who each customer is and what she wants..to make these experiences far more individualized, personalized, and customized”.
The white paper presented an enterprise-level strategy to know everything about every customer. Seriously? Data, integrated systems, partners, new processes - all the stuff defining customer focused enterprises - could be bought through the firm presenting the paper. Last year, another Fortune100 tech firm stated via an ad on the WSJ that “80% of data psychologist jobs went unfilled in 2014”. Another firm reported that 20% of all customer data is inaccurate.
Let’s compare the relative assumptions. A 360-degree view of customers requires data, against the goal: improved accuracy on measurable revenue per marketing campaign. Better marketing. Shouldn't we ask the CMO, “Why have you made the assumption that customers want to be known so deeply?” This is not marketing; it is profiling; otherwise you wouldn’t need big data. You would actually need sales people and more; highly intelligent, trained, business-experienced sales people. They would understand needs and expectations from a less-expansive customer population willing to share their lifecycle use of a product and present valuable insights. Great marketing doesn't need to know everything about everyone. If you can’t keep up with every customer on phones, tablets, wearables and other digital devices – you cannot have a 360-degree organization – at best, move the decimal left acknowledging actual 36.0-degree marketing. You can’t pave the ocean. Most of us don't want to be profiled after buying a pair of shoes or cup of coffee.
Big data, psycho-analytics, psychometrics, cloud data sharing, AI tracking apps on phones and wearable technology – sure prepares for an ocean load of paper and reports.
RPW
The white paper defined marketing’s evolving scope of pursuit:
“We must gain a 360-degree view of each customer by tapping into relevant information about every interaction they have with our brand—whether online or offline, from their smartphone, wearables, in-store visit or anywhere in between. We must analyze that data to understand who each customer is and what she wants..to make these experiences far more individualized, personalized, and customized”.
The white paper presented an enterprise-level strategy to know everything about every customer. Seriously? Data, integrated systems, partners, new processes - all the stuff defining customer focused enterprises - could be bought through the firm presenting the paper. Last year, another Fortune100 tech firm stated via an ad on the WSJ that “80% of data psychologist jobs went unfilled in 2014”. Another firm reported that 20% of all customer data is inaccurate.
Let’s compare the relative assumptions. A 360-degree view of customers requires data, against the goal: improved accuracy on measurable revenue per marketing campaign. Better marketing. Shouldn't we ask the CMO, “Why have you made the assumption that customers want to be known so deeply?” This is not marketing; it is profiling; otherwise you wouldn’t need big data. You would actually need sales people and more; highly intelligent, trained, business-experienced sales people. They would understand needs and expectations from a less-expansive customer population willing to share their lifecycle use of a product and present valuable insights. Great marketing doesn't need to know everything about everyone. If you can’t keep up with every customer on phones, tablets, wearables and other digital devices – you cannot have a 360-degree organization – at best, move the decimal left acknowledging actual 36.0-degree marketing. You can’t pave the ocean. Most of us don't want to be profiled after buying a pair of shoes or cup of coffee.
Big data, psycho-analytics, psychometrics, cloud data sharing, AI tracking apps on phones and wearable technology – sure prepares for an ocean load of paper and reports.
RPW