This is a two-part series on data-driven marketing, outlining common mistakes that marketers make and a framework to help them avoid these errors.
Read part two here: How to create a data-driven marketing framework in Asia
“If you are an artist, learn science. If you are a scientist, cultivate art.” – Karin Timpone
Marketing has always been seen as a magical mix of science and art. In recent times, the balance is shifting towards science and even the artists among us marketers are being compelled to become data scientists. In this piece, we attempt to demystify and simplify some of the challenges and get maximum results for your business.
Data is important – but not well understood
Data today plays a critical role in marketing. New age digital natives have disrupted large traditional brands which have been built over decades, with marketing strategies that smartly leverage large volumes of data on digital media. Not only has the growth of e-commerce as a significant distribution channel made data more valuable for online demand generation, but data is also increasingly being leveraged to drive offline sales through traditional channels.