M-Squared | M^2’s Post

Transcript

And why I'm excited to talk to you guys today is really because of the my deep understanding of metrics and how you think about mathematical marketing in relation to the emotional part of marketing data becomes an incredibly valuable tool. To help articulate your agenda, whether or not the agenda started in the data. So in other words, you come up with the way I personally do it is I come up with my plan and then I think about, well, can I use data to back up this plan? If I can figure out how to use data to get the plan, then I start to look for those data pieces to look in the historical right. So I think that's the other intuitive piece of. Data that's a little bit more squishy is if you did a task in 2022 for targeting teenagers, is that data still applicable in 2024? Probably. Probably not because of the cultural circumstances. But you can have a piece of data from 2017 with a B to B contacts. That's actually incredibly applicable. I probably have more egg on my face than using it, well, doing a task. With direct mail is actually been probably the the biggest problem, right, Because the audience who responds to a direct mail piece back then was not the audience who responded to a digital piece. And we continue to invest in direct mail. You were and you know, it was a very, it turned out they did, it was dragging all of it and we over attributed there. I think all great marketing leaders need to start is understanding actually where your stakeholders are and how the there's 100% lack of alignment. So inside your organization, your stakeholders are organized around the funnel. And I think when you come to the table without understanding that we need to create attribution, we need to create accountability in a funnel. That is in conflict with how people shop, right? So a great example of this is, and we just referred to it, like the quality of leads coming in on social. Well, the quality of leads on social are always going to be. Lower than one from a conference for a couple reasons. One, the connection that you create with a person, but two, social is social because of the slot machine mentality. So we have to understand that the behaviors that Dr. advertising engagement in those channels are different. But we also need to spend on social because we need those multi touches. We need to spend on social because our competitors are there. So I think the intuition. Isn't really intuitive, it's really understanding the political dynamics well for me. And I deal with that situation a lot because I'm a fractional CMO, so I'm always jumping into products I know nothing and trying to figure out how to scale them in 18 months. And I think to me, it's one, if it's grounded in something that just makes a ton of sense that I should have already known it. And I think the second one is if there's a plan to figure out if it's if it's a red herring or not, like a great agency partner is going to say, hey, we see this weird thing where Oklahoma is like over indexing. They're all like, what? And I'll be like, OK, cool. How do we figure out? How do we test that right? If they're not willing to test it and be wrong, then it's not an insight. It's worth pursuing.