Value-Driven Marketing

For a decade, people have been shouting the virtues of 'data-driven marketing' from the rooftops. And marketers have felt a nagging feeling of ineptitude, because they assumed they had to invest in the latest enterprise release of Salesforce, or hire the Archimedes of marketing analysts. I know because I was one of them.

"I know I have analytics, and I know I learn from the insights, but am I truly a 'data-driven' marketer?! It seems like other people are doing more -- using AI, predictive analysis, etc., etc."

There is value in using data for marketing decision-making, of course. But focusing on the 'data-driven' term, rather than the true end goal (which is value, achieved in part through data analysis) ends up turning into a 'tech-stack measuring contest', where you assume you are falling behind if you're not employing the latest AI wizardry or predictive modeling software. I recommend focusing on the 'value' end of the equation, and recognizing data analysis for what it is -- a means to an end, and not an end in itself.

When you focus on value-driven marketing, your mind-set completely changes, and you stop comparing yourself so closely to your peers and competitors. The only thing that matters is: "Are my efforts producing ever-increasing value for my company and my customers?" If yes, it's working. Now study the data to understand why it worked, so you can do it again. If no, it's either not working, or it's working differently than you planned. If this is the case, study the data to figure out what went wrong/different, so you can correct it for next time.

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About the Author
Justin is the owner/founder of Fox Consulting Group, and a lead consultant for strategy engagements.

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