[China Glass Network] Marketers feel pressure. It is no wonder that strong interest in big data has become one of the more sought-after qualities of marketers. However, the closer CorporateExecutiveBoard (hereafter referred to as CEB) surveyed nearly 800 marketers in Fortune 1000 companies: the vast majority of marketers still rely on intuition – and a few people who actively use big data do not good. Here are our important findings:
Most people rely too much on intuition
On average, only 11% of marketers rely on data for all customer-related decisions. In fact, when we asked marketers to think carefully about the information they used to make their decisions in the near future, they said that more than half of the information came from experience or intuition to customers. They think about data later—tracking conversations with managers, colleagues, expert advice, and one-time interactions with customers.
But in today's changing business environment, relying on past experience to make decisions is increasingly unreliable. As consumer behavior continues to change, once valid assumptions (eg, "older consumers don't use Facebook or send messages") will soon become obsolete.
Most people are not good at statistics
When we tested the statistical ability of marketers with five low- and medium-difficult questions, nearly half (44%) made four or five questions wrong, and only 6% did all the test questions. So it’s not surprising that only 5% of marketers have statistical textbooks.
Some people overuse data
Although most marketers do not make full use of the data, a small percentage (11%) still feel that they are not using enough. These people focus on data changes every day, and they rely entirely on data for most decisions. They are “joined†personality and like external motivation – so they love data and any form of feedback, including information from marketing effects, managers or colleagues, and data from frequent interactions with others. We call these people "connectors," and they are the talents that most CMOs are looking for. But this type of marketer is often a poor performer (their performance rating is lower than the average of other marketers). The problem is that they lack the statistical quality or judgment of effective use of data. Whenever they see a new standard, they make adjustments - as a result they often change direction so that they lose their final goal. In management positions, these people's endless exercise activities (firedrills) hinder others from sticking to the project for a long time, in order to achieve better results, which has brought tremendous damage to the company. To make matters worse, many marketing courses (especially direct marketing, digital marketing, and loyalty marketing) always inadvertently encourage this behavior, and as a result, the problem is magnified. That's because dashboards often capture basic metrics such as clicks and open rates, and these metrics are less relevant to more important metrics such as customer loyalty and value, but marketers are rewarded for improving response data models.
Focus on goals, filter interference factors
Managers believe that today's marketers should have three key qualities: the ability to adapt to uncertainty, the ability to ask strategic questions based on data, and the ability to focus on higher-level goals. These qualities help marketers filter out the distracting factors and apply insights or data points only to aspects that are long-term success. This ability to filter out interference becomes more important as marketers have better access to raw data and big data continues to grow.
The bad news for marketing leaders is that there are very few people with the ability to filter out interference factors (about 10% of marketers are good at this ability), and this ability is difficult to obtain through professors. The good news is that an environment with a good mentoring team will protect marketers from disruptive factors – always reminding them to prevent the target from deviating from the route. In order to use data more effectively, better business leaders continue to restate their business goals (keeping them free from outside influences) and teach marketers to put data in the top and bottom positions when making decisions. And exercise marketers' sensitivity to common, erroneous data interpretation. Following these steps will allow even data distracters who are more easily distracted to complete their tasks beyond expectations.
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