Data-Driven Marketing Quotes

“The power of the data-driven marketing approach is that the 15 essential metrics define the ROMI, which justifies future marketing investments (Chapter 5 and 9).”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“Value-based segmentation combined with event-driven marketing, to give customers the right product marketing at the right time, can increase performance by another five times or more.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“Designing for measurement combined with agility can increase campaign performance by a factor of five or more.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“The trick is to take a phased approach to gradually build the capability in your organization, realizing results at each stage and developing an actionable process that is easy to follow by employees.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“Successful CMOs make efforts to develop a synergistic partnership with other members of the senior executive team.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“The overarching best practice is to focus, get early wins to build trust, and build momentum based on these wins.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“optimizing MCM is not a matter of a “big-bang” initiative but instead involves a deliberate step-by-step process. A phased approach will help keep implementation momentum up; foster senior executive confidence, which will increase their buy-in;”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“The laggards spend more on demand generation marketing, whereas the leaders spend more on branding, customer relationships, and infrastructure to support data-driven marketing.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“Demand generation. Marketing to drive sales in the short term. Think coupons, sales, limited time offers, etc.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“Customer equity. Relationship marketing to build customer equity. Examples include exclusive offers for loyal customers, executive events in B2B, reward cards, and so on.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“There is an important implication here: just investing in technology for marketing does not lead to firm performance.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“What does this mean? It means that there is a statistical link to firm performance through the MCM component capabilities of selection, portfolio view, monitoring, and adaptive learning. That is, firms that have these processes in place have better market performance, brand equity, and customer equity relative to the market average.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“From our interviews we therefore identified four marketing management capabilities that comprise the MCM capability of a firm: (1) selection, (2) portfolio view, (3) monitoring, and (4) adaptive learning.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“You have to have a good marketing and business strategy, but this is not enough. You need sound work processes that monitor all marketing efforts against their objectives to ensure that these strategies work.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“The Harrah’s product experience is entertainment, so Harrah’s product design should be fundamentally different from a grocery store. In a grocery store, the milk is always in the back so that customers walk through the store to get the milk, and on the way out hopefully purchase other products.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“Shortly after a visit to a Harrah’s, customers who exceeded a minimum CLTV received targeted marketing offers to incent cross-market play, and the higher the CLTV, the greater the value of the offer.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“If Harrah’s knew the value of each and every customer, and knew who gambled in multiple geographies, it could target marketing to incent cross-market play.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“Most important, though, is the flow of the thought process: understand the marketing business problem you are trying to solve and the questions you want to answer to solve this problem.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“There are three essential approaches for analytic marketing: (1) propensity models predict likelihood to purchase, (2) market basket analysis provides actionable association rules (answering questions such as customers who buy this product also buy what else?), and (3) decision trees enable hypersegmentation based on events and other customer characteristics.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“IRR is technically calculated by setting the NPV equation to zero and solving for r = IRR.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“The channel partner is the customer before the customer, and churn in B2B is the percentage of channel partners that stop selling your products or services in a year.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“Metric #1: The Essential Brand Awareness Metric Measured by Asking For [product or service], what is the first [company or product] name you think of? For [product or service], what other [companies or products] have you heard of?”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“In a way, if you are the data-driven marketing business owner, your position is similar to the owner of a football team. You don’t get to train the players or call the plays, you just get to pay the bills but really need results to sell tickets and keep the stadium full.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“In the 2001 technology industry recession, Intel invested $2 billion in new chip manufacturing facilities and aggressively marketed new dual-core technology in order to grab market share from competitor AMD.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“Research shows that a better strategy is to increase marketing spending.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know

“Over 100 years ago, John Wanamaker said the famous line: “Half the money I spend on marketing is wasted—the problem is I don’t know which half.”
― Mark Jeffery, Data-Driven Marketing: The 15 Metrics Everyone in Marketing Should Know