Must reads for marketing execs
A couple of items that I came across during the last week or so may be of interest to marketing execs:
Top questions for Internet execs - Mary Meeker’s internet trends are always full of data and a delight to browse. She doesn’t disappoint in her latest presentation at Web 2.0. Although she’s listed the usual suspects – mobile, social, ecommerce – I think one item that deserves to be on this list is the rise of analytics (not just social).
McKinsey’s marketing vocab – McKinsey has an interesting spin on the “new” vocabulary required for marketing (beyond “paid, owned, earned”).
A little obvious if you ask me, but I like the rigor (as one would expect) of their framework. I agree that marketing typically spends way too much time on the paid aspect and more recently with all the social media noise on the earned. There’s not enough emphasis on the “sold”. (p.s.: Requires subscription. If you would like a copy of the report, please ask)
MIT’s analytics survey – MIT (and IBM) did a survey of over 3000 business people on how they are using analytics. Key takeaway – Top performing companies use data as a differentiator. Sounds obvious; but it is amazing how much time companies spend to get the basics (business reporting, data lineage etc. right). I found the following graphic insightful:
It shows that traditional Business Intelligence stuff is just table stakes; the key is to drive insights from data. I don’t think execs are paying as much attention to the data under their noses as they should. Most of the hype and noise is along the social media data; there’s tons of “unstructured” data out there that most companies are just missing. More on this topic later.