How Data Impacts Marketing
“Marketing is no longer about the stuff that you make, but about the stories you tell.” — Seth Godin
Hilton Worldwide Vice President of Global Marketing and Digital Jennifer Chick sat down with the Darden School to discuss the latest trends in marketing and the role data plays. She notes data is critically important for marketers. First and foremost, marketers need to make sure they’re routing their marketing strategy in consumer data and looking for what’s meaningful to the customer.
When developing new products or offerings, Jennifer says marketers need data to find where the big opportunities for targeting consumer groups lie. Marketers should use data to really think about new segments to go after. Jennifer says she tries to find white space in the market to develop new product offerings. Whether it’s a hotel or property experience which may capture new guests, she’s continually honing a marketing message to test with consumers in order to make sure it resonates.
Jennifer notes the modern marketer is absolutely required to be at the forefront of the c-suite to show what the return on marketing is back to the organization. She says pressure is growing on marketers to show that return. Jennifer notes there’s both an art and science to it, and using data can be a challenge. She works hard to ensure every dollar spend on marketing shows a return back to the shareholders and organization by taking a look at the marketing mix. She wants to spend marketing dollars in the right channels with the right message, at the right time.
She uses ad technology for prospecting consumers in digital channels to make sure she gets the most efficiency out of digital buys, and uses behavioral data from her customers to do more personalized messaging -again, her emphasis is on the right message at the right time and place.
Jennifer adds the use of data is growing more and more in the marketing field. She notes it’s not the lack of data that’s a problem, but knowing what to do with it. She says data can be incredibly powerful for pushing forward your marketing strategies. You can view her full comments here.