How agile marketing teams weaponise data to outperform competitors, boost profits
Marketers have long been seduced by the allure of their own creative. However, a turbulent economic climate means consumer behaviour is pivoting in unpredictable ways – and brands who enable agility while responding to real-time feedback loops will come out winning. Seja Al Zaidi speaks to three industry experts to uncover the impacts agile marketing culture & data-led capabilities can have on a brand’s profitability.
In order to remain on top in 2022, marketers may need to neglect their commitment to optimise brand over profit. While most teams elevate the significance of creative, alternate perspectives suggest the cultivation of a data-led, customer-centric strategy underpinned by cultural agility can produce notably better financial outcomes for a brand.
The abstract value of storytelling and creative can sometimes backfire on marketers – after all, a mitigated ability to discern tangible ROI makes a billboard less compelling than an investment into data that directly informs customer behaviour.
Earlier this month, marketing measurement and optimisation company Analytic Partners, who count Microsoft, TikTok, Amazon and Google as partners, revealed product enhancements to enable marketers to forecast return on investment. The purpose of these enhancements were to leave ‘no stone unturned’ for marketers – indicating data offerings like brand health metrics, richer algorithms and metadata would enable marketers to continue producing productive outcomes even amidst budget cuts – and as the COVID-19 pandemic has shown, those budget cuts tend to eviscerate marketing departments first.
So much talk of data, KPI’s, ROI and profitability but no clear example using any of those things to support these very general statements.