Data. It is being made out to be sexy – really sexy. Many folks even think that collecting mountains of data and stuffing it into CRM and/or marketing automation systems is the access to delivering great customer experiences. They are mistaken.
Great marketers have great guts. Leo Burnett didn’t need a legion of focus groups to come up with the Marlboro Man. Steve Jobs, arguably the greatest marketing mind ever, famously eschewed market research because he didn’t think customers knew what they wanted until he showed it to them.
“Fail fast, fail cheap, fail often,” has become a mantra for the digital age. Stodgy old dinosaurs may be afraid of failure, but it doesn’t bother the new breed of entrepreneurs. They can start-up, shut down and start-up again. Venture investors, for their part, are looking for just one or two big wins out of ten.
As everything is moving faster and less predictable as it seems, organizations are struggling to understand what it means and what options to take and how to land on the right decisions at the right time. The results are often inactions or delayed responses that cost companies.
In Nate Silver’s Five Thirty Eight manifesto, he argues that the plural of anecdote is data. It is through compiling and analyzing observations that we transform ordinary experiences into scientific conclusions.
How do we take all the data we have and make some sense of it?
Continuing my CEM Toolbox series, today I'm sharing some tools to inventory and to bring your disparate data and data sources together in one place, to facilitate achieving that single view of the customer.
When the oil tycoon John Paul Getty was asked about his rules for success, he reportedly said, “Rise early, work hard, strike oil.”
It’s a funny line, but it seems positively quaint now. It’s hard to imagine young entrepreneurs these days looking to find their fortune in resource extraction. The days of wildcat wells have long been replaced by an industry that’s dominated by geologists, geopolitics and an unruly band of petro-dictators.