The Evolution of Marketing JudgmentThe Evolution of Marketing Judgment

Marketing used to just include traditional advertising, this allowed for chief marketing officers to completely understand everything involved in the process from messaging, image to spending. As a result of the eruption of technology, marketing has become less of a science as it is harder to predict what campaigns and venues will produce the best results. New platforms are popping up so frequently that it is hard for senior marketers to gain a complete understanding on how to use each effectively. These ambiguous feelings are not a solid foundation for making decisions that involve the spending of money.

Marketing used to just include traditional advertising, this allowed for chief marketing officers to completely understand everything involved in the process from messaging, image to spending. As a result of the eruption of technology, marketing has become less of a science as it is harder to predict what campaigns and venues will produce the best results. New platforms are popping up so frequently that it is hard for senior marketers to gain a complete understanding on how to use each effectively. These ambiguous feelings are not a solid foundation for making decisions that involve the spending of money.

A lot of companies think that their answer to all of these problems is collecting data. Some companies have a lot of access to analytics, but sometimes it is hard to translate this abundance of data into information that demonstrates insight, which then can be trusted to inform marketing choices in the future. It is more beneficial to start out by making hypotheses about the possible impact of marketing changes, and then to gather data and analyze that evidence. This way you know exactly what you are looking for in your results, and this tailored data will help see the direct effect of your marketing strategy. Eliminating a lot of the extra information within a set of data will reveal a clear relationship between marketing spending and business results. Even though data and the access to advanced technology that we have gained access to is extremely useful, marketers still need to have good judgment and utilize their expertise when they are analyzing this big data and advanced analytics.

A lot of companies think that their answer to all of these problems is collecting data. Some companies have a lot of access to analytics, but sometimes it is hard to translate this abundance of data into information that demonstrates insight, which then can be trusted to inform marketing choices in the future. It is more beneficial to start out by making hypotheses about the possible impact of marketing changes, and then to gather data and analyze that evidence. This way you know exactly what you are looking for in your results, and this tailored data will help see the direct effect of your marketing strategy. Eliminating a lot of the extra information within a set of data will reveal a clear relationship between marketing spending and business results. Even though data and the access to advanced technology that we have gained access to is extremely useful, marketers still need to have good judgment and utilize their expertise when they are analyzing this big data and advanced analytics.

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