New research suggests that Marketing organizations need to do a better job at breaking down the internal “silos” that separate functions and data. One of the reasons why this issue has emerged is that people like to keep a tight control their slice of the data “pie.” I thought it might be helpful to share some suggestions on what can be done to overcome this challenge to help unlock greater efficiency and performance with how Marketing teams operate – a win-win for all!
Data silos can be found in many places. Within a digital campaign, it might include contact information, such as name, title, employer, email address, and phone number. Event sponsorships might include a list of attendees; website visitors represent another source of contact information.
Over time, it can be difficult to keep track of all this information while ensuring the data is accessible and current. Further, with the changing data privacy laws and the fact that these records include Personally Identifiable Information (PII), it is now increasingly critical to know exactly where all this data resides.
If the worlds of PR and marketing are set to further converge over the next five years, we should start to see evidence that this shift has begun (see related article). The viral sensation surrounding the recent Game of Thrones Starbucks coffee cup incident is a great data point that validates this transformation.
What struck me was what an amazing PR and awareness opportunity this became from a blurred, barely visible image shown for a split second on a television show. The way brands get promoted and recognized today certainly has changed!
I just read a Global Communications Report published by the USC Annenberg School for Communications and Journalism. The findings were very interesting. One of the figures that really caught my attention was that 87% of PR professionals believe the term “Public Relations” will no longer accurately describe the work they will do in 2022 – nor may it even exist as a separate discipline!
As a Public Relations practitioner, these findings caught my
attention enough to read the rest of the report. If this big of a change is on
the horizon, then it is probably a good idea to understand the best road to
take. Advance planning will help to navigate this potentially significant
Analyst Relations is a term used to describe the practice of working with industry analysts to help with marketing awareness and sales acceleration programs. The best strategy depends upon your objective. Many analyst firms exist today. Gartner, IDC, and Forrester are three of the more well-known firms, however, many others exist. In terms of revenues, IHS Markit leads the pack with almost $4B and 13,000 employees. Gartner follows closely behind with $3.3B and 15,000 employees (source).
One can trace the origins of this industry to when technology solutions became difficult to understand and compare. In other words, when the technology purchase process became complex, which began back in the 1980s. Since that time, there has been quite a bit of specialization and fragmentation of the IT, technology and software markets. As new technologies continue to be introduced (cloud, AI, machine learning, etc.), systems and platform interoperability have only further added to the complexity!
I was most amused when reading about a new Scotch whisky that now carries the Lehman Brothers name. The product is called “Ashes of Disaster,” so is clearly meant to evoke memories of the failed financial services company. As a reminder, some consider the failing of Lehman Brothers the catalyst that triggered the 2008 global financial meltdown.
According James Green, a 34-year-old London entrepreneur that is launching the whisky, “It has a contrite, bereft peatiness,” as quoted from the Wall Street Journal article. Mr. Green plans to offer his spirits online and has gotten orders from bars in London and New York.
In the world of content marketing, every marketer must make a decision on what information should be provided openly, and what should require registration to access. Traditionalists will argue that the concept is straightforward – information that is more valuable should be deemed “worthy” of registration to gain access. With registration, however, comes an expectation of future follow up, be it in the form of a call or email from the sponsoring party. This knowledge dissuades the reading of your material, working against your desired objective.
Today these lines are blurring, which is causing some angst for those of us involved in content marketing.
I find it quite interesting to observe how purchase decisions are finalized. This process is even more fascinating when you look to see how the process has changed over time. As a marketing professional, it is critical to understand just how your target audience makes a purchase. If you don’t understand this process, you will likely waste precious resources, time and effort trying to encourage a behavior that might never occur.
Let’s first take a look at what I would consider to be a pretty basic purchase process – the decision to buy an ice cream at the beach.
Google just announced plans to offer wireless service. What might this mean for AT&T, Verizon, Sprint and T-Mobile? How would you respond if one of your suppliers announced they are going “upstream” and will now offer the exact same product or service you offer?
I was amused when I read about this announcement, including the quotes provided by Google, and the reporter’s assessment, so I thought this might be a good topic to explore in greater depth.
I find it interesting when I speak with new acquaintances and they ask me what I do. I’ll typically respond with “I’m a marketer” or “I’m part of a marketing team.” Nine times out of ten, the response I’ll get back is “Oh, you do advertising.” I used to be surprised with this response, given that advertising is really just a small part of the marketing discipline. Now, I have come to expect it.
Of course, advertising is a part of the marketing mix. It comes in many forms, as shown in this recent media share chart.
Each of these categories represent are part of the advertising spend, with each component offering unique advantages and opportunities, depending upon what you are selling and where your audience resides.