As marketing comes under increasing business pressure, and industry competition reaches new heights, the debate is becoming more fierce than ever before: should marketers focus on art or science?
Marketing reports are perhaps the most important work done by the department. After all, it shows results to date, and provides a roadmap for the future. It also determines whether or not marketers will receive the budgets they want, and sometimes whether or not they will keep their jobs.
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.