Predicting Your Way to CMO: eMetrics Boston 2013
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As marketers begin to rely on predictive models to forecast business outcomes, a new problem merges: scaling one-to-one relationships with an emphasis on the human experience. Gregory offers a new set of metrics for success for today’s marketing programs, and proposes a new metrics framework for the data-driven CMO. He then offers five tips on how a senior-level analyst or marketing manager can master the latest trends and become successful leaders in today’s data-driven market. Are you ready to take the next step and become a data-driven CMO?
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Predicting Your Way to CMO: eMetrics Boston 2013
- 1. PREDICTING YOUR WAY TO CMO Gregory Ng | Chief Marketing Officer @GregoryNg
- 2. @GregoryNg
- 3. “2013 Predictions: Today’s CMO Becomes Master of Data.” IDC Chief Marketing Officer Top 10 Predictions for 2013 @GregoryNg
- 4. “Companies are driving Lamborghinis in the parking lot at 5 mph.” Jim Hazen, EY @GregoryNg
- 5. @GregoryNg
- 6. @GregoryNg
- 7. @GregoryNg
- 8. @GregoryNg
- 9. @GregoryNg
- 10. @GregoryNg
- 11. @GregoryNg
- 12. @GregoryNg
- 14. BLINDLY FOLLOWING STRATEGY WITHOUT USING DATA FAILING TO PROVE ROI YELLING BUT NOT ENGAGING REPORTING ON THE PAST NOT FORECASTING THE FUTURE @GregoryNg
- 15. FOCUS ON THE CUSTOMER INFLUENCER IN THE C-SUITE EFFICIENT RELEVANT CONTENT DELIVERY PROVEN DATA-BASED PREDICTION @GregoryNg
- 16. TEACH CMOs TO BE MORE DATA DRIVEN OR TEACH ANALYSTS TO BE CMOs @GregoryNg
- 17. TEACH CMOs TO BE MORE DATA DRIVEN OR ✔ TEACH ANALYSTS TO BE CMOs @GregoryNg
- 18. @GregoryNg
- 19. 5 STEPS to prepare for the data-driven marketing revolution and be a data-driven CMO
- 20. 1 OVERDELIVER
- 21. @GregoryNg
- 22. THE INFO REQUESTED MAY NOT TELL THE WHOLE STORY @GregoryNg
- 23. TIE ANALYSIS TO BUSINESS OUTCOMES RECOMMEND ACTION @GregoryNg
- 24. 2 KNOW YOUR CMO
- 25. KNOW YOUR CMO KNOW WHO YOUR CMO MEETS WITH REGULARLY AND WHY KNOW WHY EACH PERSON IS IMPORTANT TO THE CMO X KNOW THE CMO’S ADMIN @GregoryNg
- 26. WHAT KEEPS YOUR CMO UP AT NIGHT? @GregoryNg
- 27. WHAT DOES YOUR CMO NEED? ASK. ✔ TAKE INITIATIVE AND BOOK A MEETING ✔ HAVE A SPECIFIC PURPOSE ✔ ASK WHAT THE CMO NEEDS ✔ PROVIDE UNIQUE VALUE @GregoryNg
- 28. 3 PRESENT LIKE A CREATIVE
- 29. HOW TO MAKE AN IMPACT PRESENT STANDING UP REHEARSE DECK SHOULD BE 10% OF YOUR APPENDIX MAKE EYE CONTACT @GregoryNg
- 30. MAKE NUMBERS RELEVANT AND ACTIONABLE TEST 3 – RESULTS OBJECTIVES 2 Increase Alerts & On-Page Interaction “My Settings” increased on-page interaction. Users & Preferences My Settings Users & Settings +8% - My Profile +4% *99% Confident +8% +13% Users & Preferences My Settings Users & Settings My Profile +13% -5% -11% *99% Confident @GregoryNg
- 31. @GregoryNg
- 32. 4 KNOW WHO YOU NEED TO KNOW
- 33. KNOW EVERYONE EAT WITH NEW PEOPLE UNDERSTAND HIERARCHY ATTEND ORIENTATION IN OTHER DEPARTMENTS READ DEPARTMENT ANNOUNCEMENTS @GregoryNg
- 34. @GregoryNg
- 35. @GregoryNg
- 38. @GregoryNg
- 39. DO YOU SPEAK THE CUSTOMER’S LANGUAGE? ✔ LISTEN TO CUSTOMER CALLS ✔ ATTEND FOCUS GROUPS ✔ READ USER FORUMS ✔ VISIT STORES ✔ ORDER SOMETHING @GregoryNg
- 40. DO THIS. BEFORE YOU DO THIS. @GregoryNg
- 41. DO THIS. BEFORE YOU DO THIS. @GregoryNg
- 42. DO THIS. BEFORE YOU DO THIS. @GregoryNg
- 43. DO YOU HAVE WHAT IT TAKES? FOCUS ON THE CUSTOMER INFLUENCER IN THE C-SUITE EFFICIENT RELEVANT CONTENT DELIVERY PROVEN DATA-BASED PREDICTION @GregoryNg
- 44. THANKS. GREGORY NG CHIEF MARKETING OFFICER BROOKS BELL @GREGORYNG @GregoryNg
Notes de l'éditeur
- First let’s see a show of hands. Raise your hand if you are an analyst. Raise your hand if you are a marketer. Raise your hand if you are a CMO
- IDC Releases Chief Marketing Officer Top 10 Predictions for 2013 and the overall statement is that the CMO will be masters of data.
- Most marketers think they are already masters of data. They are using tools that make them feel data driven but they aren't using it at its full capacity.
- Activity-Based: Things we can count. Clicks, CPMs, etcOperational: Improve on efficiencies. CPL, Leads per sales repOutcome based: Market share, customer lifetime value, brand equityLeading Indicators: Indicator metricsPredictiveFramework from Laura Patterson at Vision Edge Marketinghttp://www.marketingprofs.com/7/quality-metrics-enable-marketing-influence-strategic-direction-patterson.asp
- Most organizations are still measuring success on Activity-Based metric.
- CMOs are responsible for understanding a variety of disciplines.
- If a CMO will truly become a master of data, I am proposing that this data-driven CMO needs to master 4 new categories to be effective:Business Intelligence, Content Marketing, Testing and Optimization, and Culture.
- Inspired by TDWI BEST PRACTICES REPORT http://www.sas.com/events/cm/174390/assets/102892_0107.pdf
- So if we can all agree that the next generation CMO needs to be data driven, This means that we have 2 options. Teach CMOs to be more data driven or teach analysts to be CMOs.
- With the increased importance of not only understanding data but understanding what to do with it to make decisions, my money is on analysts becoming the next level of CMO.
- But now's the time for some tough love. Most analysts are not equipped for this role.
- 5 Steps to prepare for the data-driven marketing revolution and be a data-driven CMO
- Like anyone who wants to move up: Go beyond what you are asked to do
- Hippos want their magical analysts to vomit back reports. But they don’t know what to ask for. They will keep on eating what you serve them.
- As an analyst you may be asked to run reports but what is really driving your business? There may be a single metric that the CMO is interested in but simply reporting on it may not tell the whole story.Do what you're asked to do but do more…
- Structure your analysis on how the data points to specific business outcomes.
- In general, marketers are more social and in general analysts aren't. Social aspect is huge in persuading and inspiring and leading.• Put yourself in the shoes of your CMO. What does his/her day look like? Does he really have the time to look at 40 charts? If you can come up with one great insight to impact bottom line they will take that any day over others..Analysts sometimes have a tough time communicating with someone that is super busy and just wants the bottom line. How are you helping me contribute to my sales and marketing goals.
- “Know” your CMO Don’t “stalk”. DO: What does your CMO’s day look like? Know who your CMO meets with. What they do. Why they are important to your CMO’s job.
- What specific metric is your CMO accountable for? Identify it and strategize how you can help your CMO get there.
- One of the biggest areas of improvement for analysts is the ability to persuasively present like a creative director would. Analysts must learn to not only tell stories with the data but to tell the stories with all the key factors of effective presentations: • Presenting simply does not mean less insightful or impactful• Persuasive Story Pattern: What is/What could be [Chart]• Put simply. "What's the point and what do you want me to do with that point?”
- Do it standing up. Make the presentation about the words you are saying not the numbers on the screen.If your Appendix is 50 slides long make 5 summary slides. It will force you to remain concise and the conversation will proceed from there.
- Complicated does not make it better. Make numbers relevant and actionable.
- Speak non-number language. Understand how the target audience speaks. If you only talk metric speak you aren't going to create that social connection with marketers (explain like a 5 year old)
- • Get to know IT, Sales, Product, Legal, etc• Speak their language to get that good dialogue so when you do need that resource, they are available to you
- • It’s going to be awkward and you may not feel you are compatible at first.
- CMOs and CIOs are already forging this bond. • Create opportunities to illustrate how your expertise can help both of their jobs.
- While it is important to forge bonds between all departments it is most important to create the 3 amigos effect.
- CMOs obsess over what their customer looks like. Do you? • Experiencing and participating with tools and channels that you are analyzing• Spend time with your customers through focus groups, sitting in on customer service calls, and attending events that your customer segments attend.
- CMOs obsess over getting inside the heads of the consumer.
- Sit in on customer service calls, focus groups, etc
- Have you tried out the marketing channel you’re reporting on? Don’t report on the effectiveness of Twitter without actually playing a round with Twitter. Don’t work for a retail client without stepping foot in one of their locations.
- Have you tried out the marketing channel you’re reporting on? Don’t report on the effectiveness of Twitter without actually playing a round with Twitter. Don’t work for a retail client without stepping foot in one of their locations.
- Have you tried out the marketing channel you’re reporting on? Don’t report on the effectiveness of Twitter without actually playing a round with Twitter. Don’t work for a retail client without stepping foot in one of their locations.
- This is where the market is moving. These are the qualities of the next generation’s effective marketing programs. Do you have what it takes to lead the way?
- How does your organization stack up? Is your organization ready to be data-driven? Download this framework to assess how data-driven your organization truly is!bbi.bz/data-driven-cmo