Every CMO’s job description may be different, but all have one big challenge in common—data. On an exclusive panel at RampUp, CMOs: Time to Learn a Little about Ad Tech (watch the full video below), four CMOs discussed data-driven marketing challenges and how they’re taming the beast and using it to drive their business forward.
“It used to be that I spent 80 percent of my time on the creative and 20 percent on the back end, but now I spend most of my time on the plumbing. I probably have 100 different operating systems that I have to bring together. I have to make the data talk to one another and then I have to be able to use it through some sort of personalization or marketing automation to get the right offer to the right person,” said Alexandra Morehouse, CMO, Banner Health.
Joining Morehouse on the panel were Deb Tomlin, CMO of CSAA Insurance Group, a AAA insurer; Anthony Marino, CMO of thredUP; and Peter Horst, former CMO of Hershey. Each spoke about how they are using data-driven marketing and ensuring that all efforts ladder up to tangible results.
“We had a wake-up call where we had so many data initiatives going on around the company, we suddenly realized we had to put a rope around all of them… or you could end up in a world where things weren’t fitting together,” said Horst.
What worked for him was to ban the word “ownership” and allow people to mix their skills together by bringing in diverse teams.
Marino shared another way to ensure that data-driven marketing initiatives are well understood across the business and offer actionable insights: “Just because the number is out to three or four decimal points doesn’t mean it’s right. When people see charts and data that’s well organized, they think it’s meaningful. Know what questions to ask when that data comes across. Step back and ask very simple business questions that can cut through the hypnosis that sets in when the charts come up.”
And with all the elbow grease these executives are putting into understanding their data, there’s a great need to look across the enterprise and partner with other teams to get the job done.
“We have a ton of data [including] a lot of first-party data. We have third-party data coming in, IoT, and everything that we could know and want to know about our future customers. Where I’m spending a lot of time is partnering across my entire enterprise—whether that’s my CIO or head of product or pricing —because we have all of that [data] but how does it work together?” said Tomlin.
Listen to the conversation below and click here to register for future RampUp events featuring other marketing leaders sharing their best practices: