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January 31, 2017

How well informed is the marketing strategy?

4 prgeeks

Marketing has always combined data and inspiration: after all, there is no analytical approach that can itself indicate a specific direction without the necessary review and internalization on the part of the professional and his know-how in the analysis of information. Some time ago, when traditional advertising dominated the strategies developed, most managers in organizations could justifiably have an increased confidence in the judgment to be made about expenses incurred and messages given.

Today, many privately confess that the degree of certainty has decreased. This trend is not surprising: many marketing strategies start from traditional schemes, almost unchanged, while the most recent evolution of marketing platforms requires a necessary almost daily update. But it can be difficult to admit publicly that your judgment is incomplete or out of date. And given the resources needed in this context, it becomes difficult to make a rational investment in additional marketing expenses and - at the same time - admit that it is based mostly on a hunch about the market and the public.

Marketers seem to have internalized the realization that the answer to improve their judgment in this rapidly changing environment is to be able to collect and analyze data, and several companies integrate sophisticated analytical tools into their strategies. However, it is difficult to integrate all this information in a way that not only provides answers that can be trusted, but that can also shape marketing changes intelligently. The exercise can start by formulating hypotheses about the impact of changes in the marketing mix and then look for the analytical evidence to support it.

Whoever operates in this environment finds enthusiasm in the possibilities that Big Data and advanced analytics feature. But the data remains as useful as the experience that the professional who works it supports, and a proper judgment of it will remain a mark of the best marketers.


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