“Marketing is about recognizing where you are and knowing where you want to be. It’s all about measuring progress. It’s not just about how high up the ladder your brand can get…the important thing is helping your brand climb as many rungs of the ladder as possible.” So says Elissa Fink, CMO of business analytics and data visualization company Tableau Software. In a world where the importance of marketing analytics is increasingly beyond refute, it remains very difficult for many CMOs to begin making sense of incomplete and inconsistent data. Elissa believes that the important thing is to simply begin somewhere. In this Moneyball for Marketing podcast, she shares with us how to start measuring data in marketing, when starting a marketing analytics practice is hard. Highlights include:
Information Imperfection: “Perfect is the enemy of the good,” Elissa says—She explains how CMOs can use data to begin measuring progress and shares how to get closer to measuring the impact of marketing on revenue, even when you can’t.
Data Deficiency: Data incomplete? In silos? Welcome to the party! Elissa explains what CMOs can do to make progress even when data is dirty, how failing is the fastest way forward and why marketing analytics continues to be a balance between data and human intuition.
Experiment Explosion: Elissa shares some stories of how some CMOs curiosity and experimentation led to strong incremental improvement in understanding buyer behavior. She also predicts the resulting electronic relationships taking on a larger role in marketing analytics in the future.
Elissa Fink is the CMO of Tableau Software, where their mission is to help people see and understand their data. Elissa leads strategy, planning, and execution for all marketing worldwide.