Combining Art & Science in Modern Marketing

transcript

The Emergent CMOCombiningArt & Science inModern Marketing

by Scott Brinker@chiefmartec

http://chiefmartec.com

art + science + marketing

What do these cultures value?

meaning

meaning truth

meaning truth money

How often do those things intersect?

Discovery of knowledge through empirical observation.

Is the universe collapsing or expanding?

Is the universe collapsing or expanding?marketing

Marketing is collapsing.Hypothesis #1:

The distance betweenmarketing and customers

is collapsing.

ZMOT: Winning the Zero Moment of Truth, Jim Lecinski

Query search engines

Visit company web site

Read educational content

Follow on Twitter

Visit competitor web sites

Read reviews

Discuss with friends

Check online communities

Comparison shop

The ZMOT is a flurry of activity:

Distance between marketing stimulusand customer experience has collapsed to a click.

The distance betweencustomers and each other

is collapsing.

ZMOT: Winning the Zero Moment of Truth, Jim Lecinski

Source: Brian Solis — http://www.briansolis.com/2012/04/meet-generation-c-the-connected-customer/

The distance betweendifferent media and channels

is collapsing.

The timeframes in whichmarketing decisions are made

are collapsing.

“Real-time marketing is the ability [to delight] your audience or customer into engaging with your brand around a shared moment.”

Linda Boff, Executive DirectorGlobal Brand MarketingGE

Digiday, May 2, 2013 — http://www.digiday.com/brands/ges-take-on-real-time-marketing/

Long decisioncycles

Short decisioncycles

Long decisioncycles

Short decisioncycles

Short decision cycles can now includeimportant and strategic decisions.

The barriers to entryfor potential competitors

are collapsing.

Harvard Business Review March 2013, Big-Bang Disruption by Larry Downes and Paul F. Nunes

“Garmin lost 70% of its market capitalization in the two years after navigation apps were introduced; TomTom nearly 85%.”

Harvard Business Review March 2013, Big-Bang Disruption by Larry Downes and Paul F. Nunes

Marketing is expanding.Hypothesis #2:

The number of touchpointswith prospects and customers

is expanding.

The quantity of contentthat marketing must produce

is expanding.

The Digital Evolution in B2B Marketing report by Corporate Executive Board Company and Google

The number of devicescustomers use to reach us

is expanding.

The number of technologiesavailable to marketers

is expanding.

The data generated by thesedigital touchpoints and technologies

are expanding.

The budget allocatedto digital marketing

is expanding.

Accenture Interactive: Turbulence for the CMO report 2013

The role of marketing inthe customer lifecycle

is expanding.

The strategic importanceof marketing in the C-suite

is expanding.

AdAge, Keeping Time: Why CMO Tenure Has Doubled (May 6, 2013)

Marketing is bothcollapsing and expanding

along multiple dimensions.

meaning truth money

Can these coexist in harmony?

meaning truth money

Can these coexist in harmony?

Poetry vs. Physics

Marketing can blendart and science together to achieve

meaning, truth and money.

Not only is this possible, this is future of business.

Our new generation of customersand employees seek more meaning.

The connected customer ecosystem reveals truth (whether we like it or not).

Of course, we still need to make money.

The future belongs to the hybrids.

Marketer ScientistStorytellerData analystBrand championExperimentalistExperience designerTechnologistChange agentSystems thinker

Tom Fishburne: Brand Storytelling — http://tomfishburne.com/2011/04/brand-storytelling.html

MIT Sloan Management Review Report: Reimagining the Possible with Data Analytics (Spring 2013)

Exploration Confirmation

data datauser

antifi

big datauncertaintyserendipity

“why?”future hypotheses

zoom in

small datacertainty

segmentation“what?”

past hypotheseszoom out

datascience

controlledexperiments

metrics& dashboards

– Bob GarfieldEditor-at-Large

MediapostMediapost, May 6, 2013 — http://www.mediapost.com/publications/article/199655/there-is-no-place-to-hide.html

“Enforced transparency — your everyaction and inaction searchable on

Google in perpetuity.”

In 2009, Google ran approximately 12,000

experiments.

In 2009, Google ran approximately 12,000

experiments.

Only about 10% of them led to business

changes.

David Armano: Unconventional Marketing — http://darmano.typepad.com/logic_emotion/2008/10/unconventional.html

Big Data

Big Testing

Big Experience

Generate hypotheses

Prove cause-and-effect

Deliver better experiences

“Every single customer experience isa brand moment of truth.”

Steve Cannon, CEOMercedes-Benz USA

CustomerAnalytics

CustomerExperiences

CustomerCommunications

Using analytics and Big Data to understand and

measure customer opportunities.

Testing and personalization.

Social media marketing and two-way marketing communications.

Customer communities.

Targeting.

Delivering remarkable customer experiences at every touchpoint in the

customer lifecycle.

Software has become how marketingsees and touches the world.

Analytics shapes perceptions.

Automation guides processes.

Optimization hones tactics.

Listening directs engagement.

Targeting defines segments.

CRM structures relationships.

Accenture Interactive: Turbulence for the CMO report 2013

A Ferrari is complicated.

A rainforest is complex.

Marketing used to be complicated.

Marketing used to be complicated.Now it is complex.

This is complex.

Waterfall marketing management.

Agile marketing management.

The marketer scientist: all things in balance.

A collective marketer scientist team.

T“T-shaped” people.

meaning truth money

The emergent CMO combines all three.

The future of marketing belongs tothe hybrid marketer scientist.

Twitter: @chiefmartec http://chiefmartec.com

Thank you.