Skip to main content

Overcome Data-Driven Agile Marketing Shortfalls

Many CMOs will proudly tell you that their organizations are data-driven -- meaning they make their marketing investment decisions based upon the data that's captured and reported in one or more analytics platforms. But there are significant consequences from the application of this approach. Let's consider the findings of a recent market study and look at the implications.

The coronavirus pandemic is forcing rapid change on brands. Marketing leaders believe that a lack of agility and flexibility negatively impacts their marketing execution, according to a Gartner study.

To remedy this, the study uncovered that 38 percent of marketing leaders report “developed scenarios for planning purposes” as one of the top operational steps they’ve taken to manage a business disruption.

Study the Data, React to the Trends

"One key element of effectively building and planning scenarios is data," said Lizzy Foo Kune, senior director analyst at Gartner. "Marketing leaders look to data and analytics teams to offer insight into current trends and uncertainties to avoid making errors in decision making and help chart a clear way forward."


But under the present circumstances, data and analytics teams are strained to deliver against expectations and need to develop new ways of thinking. In particular, it's difficult to adapt to change and transform go-to-market strategies by merely looking for solutions in marketing dashboards.

That said, to streamline analytics efficiencies and enable a rapid strategic response, Gartner recommends that marketing analytics teams take the following three actions:

Adopt lean principles to guide efficient analytics and insights functions

To efficiently manage data and insight requests, draw from the lean framework that has become prevalent in the manufacturing and startup industries. Defined as a production optimization methodology that eliminates activities that do not create value for customers, 'lean' describes seven categories of possible waste. The most important categories to focus on minimizing waste are overproduction, processing and inventory.

Prioritize requests to deliver data and insights faster

The pressure to deliver more insights more quickly has increased exponentially due to disruption from COVID-19. "To meet this demand, marketing leaders must identify what truly matters most, create a short set of criteria to prioritize each request and identify how best to address it. The criteria used should be objective and measurable," said Ms. Foo Kune.

Embrace agile principles to guide teams through uncertainty

Use agile work practices, including project sprints and frequent status checks, to foster a culture of collaboration. A time-boxed effort called a 'sprint', fosters a flexible environment for experimentation and innovation while also ensuring that the data team is capable of pivoting in new directions as business needs and priorities change.

I have a somewhat different perspective. Accelerating the speed of access to data isn't a viable solution to current market development shortfalls. Historical data is of limited value during a significant market disruption. Moreover, agile marketing practices tend to drive marketers to focus more on busy-work activity, and less on a thoughtful assessment of the challenges and opportunities.

How to Envision the Future Without Historical Bias

While I have an appreciation for action and execution in response to a declining sales pipeline, I also value the notion that it's advisable to invest the time and effort to determine if 'more of the same' type of activity is a wise marketing investment. In the B2B space, it's particularly important to pause and consider the alternative options.

As an example, in the Information Technology (IT) sector, we've seen the rise of buyer's committees and self-directed research and discovery. C-suite decision-makers and influencers have a common cause, but often a different need for better information and guidance during the buyer's journey. Providing more of the same product-centered content delivered in the same under-performing manner is illogical.

Furthermore, traditional B2B organizations typically view Buyer Enablement and Sales Enablement in isolation. Much of the attention is focused on helping a salesperson sell, with less attention to helping a buyer self-discover the information and guidance they need to progress. Given the amount of time that's devoted to discovery in the complex technology procurement process, improving the 'buyer progression' outcome can often deliver a greater impact than addressing 'sales progression' issues.

I'm currently researching the cohesive integration of B2B Buyer and Sales Enablement into what I'm calling '360 Degree Enablement' methodologies. I'll provide more insight into this topic, and how to remove legacy bias from the process of adapting to different information and guidance needs of key executive personas.

Reach out, learn more: Contact us now

Popular posts from this blog

How B2B Marketers Fuel Predictable Sales Growth

There was a time when vendor marketing executives could choose to focus their attention on branding and related advertising campaigns. From the company's sales leadership perspective, if that eventually resulted in generating new business opportunities, that was a welcomed bonus. But as time went on, the bar of expectations was raised and marketers were asked to more closely support meaningful new sales growth. Now it's already commonplace. More marketing leaders are expected to directly influence the acquisition of new customers and associated sales revenue. Besides, they're given the challenge of optimizing their marketing efforts to ensure that they fulfill the customer's fundamental need for helpful information and guidance, during the buyer's journey. Exploring the Marketing Impact on Growth Meanwhile, industry analysts that support the technology sector are researching and analyzing the relative performance of these marketing activities. To gain a dee
Read more

Buyer Enablement: Digital Transformation Evolution

Digital innovation timelines will double, according to Gartner's latest predictions. Through 2021, digital transformation initiatives will take large traditional enterprises, on average, twice as long and cost twice as much as anticipated. Large organizations will struggle with digital innovation as they recognize the challenges of information technology (IT) modernization. That said, the enterprise leaders' challenge can also translate into an opportunity for qualified IT vendors that offer help and support. Buying a Digital Solution is Complicated Given the potential for new upside opportunities, more IT vendors will be focused on revenue growth in 2020 and beyond. Last year, many incumbent IT vendors continued to harvest revenue from their vast installed base. Looking forward, however, some will need to raise the bar of expectations. Goal: reach and engage 'new contacts' at existing customers, and net-new clients. However, the IT Infrastructure market has
Read more

Leading B2B Tech Storytelling Transformation

Within the highly competitive business technology marketing and sales arena, the unique skill of a superior commercial storyteller is essential. Those leaders who can quickly weave together a customer-centered narrative are in high demand. In fact, 83 percent of chief communication officers (CCOs) have reported that their C-Suite influence is growing, according to the latest comprehensive market study by Gartner. Their survey of Business Communication leaders in the U.S., Canada, France, Germany, and UK markets found corporate communication team influence has grown as organizations become more interdependent. Leading Internal and External Communications CCOs also largely reported that their influence is greater than other function heads’ at their organizations, with 75 percent saying they have slightly or much more influence than their non-communications counterparts. Only 5 percent said they have less influence.  “Companies are placing a larger emphasis on stakeholder communications a
Read more