Want your company to be the leader in your industry? I’ll tell you how. For clues, look at business information leaders such as Oracle, Teradata and SAP, the dominant industry leaders specializing in business information. They’re investing a lot of time and money in developing and promoting products focusing on marketing data.
Ancient alchemists sought to turn ordinary metals into precious gold. Today, marketers on the leading edge of data-driven strategies are doing almost exactly that – turning data into gold and unprecedented business growth. Data is “the new gold of our economy,” according to the Direct Marketing Association. Indeed your data assets – and the secrets within – are virtually a license to print money.
Businesses today are obsessed with the concept of inbound marketing. In its nascent years, inbound marketing enabled many businesses to quickly reap unprecedented business growth and profit. But like a black hole imploding under its own weight, the ever-accelerating popularity of inbound marketing will likely lead to its decline or even downfall, sooner rather than later. That will send unprepared businesses scrambling back to the drawing board, searching for ways to refocus on outbound marketing.
Business today is changing so rapidly, that before companies even begin to become proficient at a new facet of business, industry leaders have already moved on. For marketers stuck on data-driven marketing, it’s essential that you shift your focus now to the next waves of marketing: insight-driven marketing and innovation-driven marketing. Each is progressively more valuable than the last.
The rapid advancement of marketing technology and innovation is forcing enterprises and marketers to embrace both technological and organizational change. CMOs leadership and technical knowledge are being put to the test and the ones that are slow to act or cannot integrate and organize their customer data in a meaningful way will certainly be crushed by their more nimble and forward thinking competitors.
The marketing industry is on fire – and not in a good way. The industry is in ever-accelerating flux. With every passing day, it’s seems increasingly difficult to reach customers – and indeed customers have taken over control of marketing. 2015-2016 will see wild, unprecedented changes in data-driven marketing. You can, however, survive and thrive when you heed these top eight 2015 trends in data-driven marketing.