By looking ahead to the future of marketing, Chief Executive Evangelist Jeff Zabin of Fair Isaac (the company that IS your FICO score) spends a lot of time learning from the past. From Francis Bacon to James Lindt to Jack Valenti, Zabin's presentation Rocketing to the Future of Interactive Marketing, looked at how scientists, surgeons, and motion picture presidents (among others) developed and executed ideas, then measured results.
Using advanced analytics is the main component of Decision Management, a strategy that involves the precision of marketing, the consistency at which that message is applied, the agility at which the message can be changed, the speed at which decisions are made and ultimately the revenue dollars that are generated.
To measure Decision Management, Zabin urges us to apply the scientific method to marketing to gain a more targeted approach, rather than marketing based on traditional gut-level decisions.
By testing and learning, one can formulate ideas that help create action plans, from which you can execute and measure effectiveness. Integrating customer data across all channels of marketing, rather than limiting them to specific area, allows more customers to be reached and more avenues to be explored.
To create testing control opportunities, allow for new ways to manipulate data and derive new insights. Using visual displays of marketing information and capturing multi-variate depictions, one can understand different aspects of information; not all data is two-dimensional.
The universe of possibilities is made up of four points of the North Star: the right individual, the right channel, the right time, and the right action. By capturing relevant customer data, managing and measuring multiple ways to reach customers, understanding the habits of the customer, determining the right time to assert the message is easy.
Customers rarely act alone; their actions can be linked and understood as social models that will help market a better interaction. In the end, the interaction between customer and product is streamlined and almost seamless.
Rocketing to the future with a more targeted marketing approach practically eliminates the need to rely solely on a gut feeling.
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