Marketing Essentials: Reinvention Required

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As data-driven strategies become more prevalent, they will increasingly take center stage as a competitive advantage for smart companies. Put simply, the organizations with the most sophisticated use of data will win. While many organizations will use easily accessible data to become more analytics-focused, the secret lies in using multiple data sources and monitoring them regularly to discover the unfolding stories they hold. Mastery of data-driven insight will increasingly separate the marketing wheat from the chaff, yet putting these skills…

The Essential Three-Pronged Approach to the New Marketing Value Chain

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The Old Marketing Value Chain had two links: rules and tools. The New Marketing Value Chain has three links:      1. Data-driven insight      2. Truly quantifiable strategy      3. Application of creative and technology Data-driven insight, the first link of the new value chain, reveals “why” marketing works. It discerns hidden patterns in the numbers that improve the decision making process in the other two links. Intelligence derived from data can help you find your most profitable customers, identify…

Marketing Essentials: Data As Disrupter

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Here on the blog, this month is all about the evolution of marketing. As you’ve probably noticed, it’s changing fast and furiously. Our approaches to marketing and business decision making must be adaptable; we must evolve with the world around us. The most essential part of the New Marketing Value Chain is data. That does not necessarily mean big data, either, even though that buzzword gets a lot of attention. In recent years, we have gained widespread access to customer…

The Rules and Tools of the Old Marketing Value Chain

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For the past century, marketers have provided value by combining best practices with conventional wisdom and intuition and applying that knowledge across a platform of the latest, greatest tools and channels. In short, they mastered sets of “rules and tools” relevant in their time period. This is the Old Marketing Value Chain, as introduced last Friday. Throughout the 20th century, a number of people articulated the “rules and tools” based approach of their day. In 1923, Claude Hopkins argued that…

What is the Marketing Value Chain?

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Earlier this week, we described how marketing has historically fallen short of its ideal of predictability causing inefficiency and waste. Today, we’ll look at the traditional “Marketing Value Chain” to understand its shortcomings and why a new approach is needed. A value chain can be defined as a set of activities that an organization performs in order to deliver a product or service. The concept was first popularized by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining…

Marketing: Same Goal, New Rules

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For over 50 years, many people suffering from certain autoimmune disorders have benefited from antibody replacement therapy. The precise mechanism by which this therapy works on these conditions has still not been definitively established. The bottom line is that often, it does work, though doctors cannot predict whether or not it will do so in individual cases. This situation should sound familiar to modern marketers. The discipline does work, sometimes even dramatically. But since its inception at the beginning of…

The Most Cost-Effective Market Research That’s Right Under Your Nose: The Employee Survey

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This is a guest post from Kevin Randall, Movéo’s Vice President of Strategy and Planning. This month, we’ve been discussing how B2B marketers can collect market data, including from primary market research studies, in an affordable, easy and useful way. One of the most inexpensive, yet invaluable (but usually overlooked) market studies a company can conduct is an employee survey. No, this is not an HR survey about job benefits, company outings, or rating your boss or peers. Instead we’re…

Affordable Research Techniques for Companies of Every Size

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As HubSpot recently pointed out, a small budget doesn’t necessarily prevent your company from conducting market research. From user testing to content surveys, any organization can collect data for minimal cost if they’re willing to put the work in. These methods work for larger companies, too, even though the scale might be drastically different. There are a number of less expensive, but more accessible ways to find out exactly what your customers want and need. Good, old-fashioned customer surveys are…

In-the-Moment Marketing Data Impacts Every Decision

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We’ve spent this month extolling the virtues of data and encouraging marketers to give data a central role in informing decision making and strategy development. But on a practical level, the stream of data coming from your website, social media and CRM can easily become an overwhelming tidal wave of data that multiplies daily. How are companies supposed to keep up? This question is intimidating, especially because marketers know that using data to its fullest advantage is key to generating…

3 Ways to Respond to B2B Buyer Research

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In this year’s Demand Gen Report on B2B buyers, we learn that more than two thirds (68 percent) of respondents agreed that the number of sources they use to research and evaluate purchases has increased over the past year. As we said last week, many marketers are starting to feel like they’re at the mercy of the self-informed buyer. If a prospect engages with a member of your sales team at all, it happens later in the buying cycle than…