250 251
HOW SALES AND MARKETING WORKS
Information management
This includes company records
(past and current customer data
and transaction histories) and
external data (economic, trade,
and industry reports).
Raw data
Software tools are used to
process and study raw data.
Analysts interpret results and
make forecasts that help future
business decisions.
Analysis
Formulation of graphs depicting
the results of data analysis;
graphs may rank data, group
common attributes, and compare
relationships.
Data visualization
Process of trawling through large
quantities of data to find patterns
between variables, which can be
applied to other sets of data.
Pattern matching
Use of computerized processes
and software programs to find
relevant patterns in large sets
of data.
Data mining
O
u
t
I
n
Predictive analytics
Program that conducts
advanced analysis of data
to forecast future outcome
Monitoring
Process that uses software
to show what is currently
happening in a business,
providing real-time results
to help key operations
make decisions
Statistical analysis
Software that organizes and
investigates every piece of
relevant data and interprets
it to show trends and patterns
Reporting
Method that draws on
historical data to provide
a general overview, revealing,
for example, how the business
performed in a given year
Some data is more useful than
other data; value is determined by
the extent to which marketers can
use it to make confident forecasts.
Methods of interpreting data are
increasingly sophisticated.
DATA USEFULNESS
US_250-251_Business_Analytics_Steve.indd 251 21/11/2014 16:27
Marketing and IT
Marketer
Must grasp
technology required
to execute and track
online campaigns.
Convergence of marketing and IT
Communicating with customers online has become a vital part
of many businesses. As a result, marketing relies so much on IT
that in some companies marketing teams spend more money
on technology than their IT departments do.
The rise of digital marketing strategies means that marketers are
working more closely with IT specialists to develop the best ways
of launching and managing online publicity campaigns.
Areas of overlap
➤
Digital marketing ➤
Developing a technology program
for publicity campaigns
Real-time transactions ➤
Installing a system for recording and tracking
online sales as they happen
➤
Big data ➤
Locating key statistics from vast amounts of online
information to improve marketing
➤
Data analytics
Using advanced tools to gather and analyze data
for developing future marketing strategy
➤
Mobile technology ➤
Understanding and keeping up to date with advances
in mobile applications and e-commerce potential
Data storage ➤
Building infrastructure and software for storing and
retrieving sales, campaign, and customer history
➤
Social media ➤
Developing the best methods for increasing
online traffic via social media channels
Tracking ➤
Following a customer through
the online engagement and
sales process
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252 253
HOW SALES AND MARKETING WORKS
Information management
How it works
Marketers need to know how to use technology to
increase revenue. At the same time, chief information
officers (CIOs) are adapting to changes in external
technology. This has led to an increasing overlap
between the marketing and IT departments, and to
the emergence of a new hybrid professional
role—the marketing technologist (see below).
78%
of marketing
executives
believe that
digital strategies
will transform
marketing
by 2020
IT person
Must find or develop
software tools to
implement and
manage online
campaigns.
MarTech Annual business
conference that focuses on
overlap of marketing strategy
and technology
Actionable metrics
Measurement of campaign
results which enable businesses
to make informed decisions
Vanity metrics Measurements
of campaign results that appear
positive but are not meaningful
Growth hacking Low-cost
online marketing techniques,
such as using social media to
improve sales
NEED TO KNOW
RISE OF THE MARKETING TECHNOLOGIST
Online marketers rely on software to monitor and analyze campaigns, generate
content, and extract data. The job of the marketing technologist, who has
knowledge of both marketing and IT, requires a broad knowledge base.
IT
OPERATIONS
DATA AND
ANALYTICS
SOFTWARE
PROGRAMMING
MARKETING
SOFTWARE
SOCIAL AND
MOBILE
PLATFORMS
CONTENT
MARKETING
AND SEO
WEBSITE
ARCHITECTURE
US_252-253_Marketing_and_IT.indd 253 21/11/2014 16:40
252 253
HOW SALES AND MARKETING WORKS
Information management
How it works
Marketers need to know how to use technology to
increase revenue. At the same time, chief information
officers (CIOs) are adapting to changes in external
technology. This has led to an increasing overlap
between the marketing and IT departments, and to
the emergence of a new hybrid professional
role—the marketing technologist (see below).
78%
of marketing
executives
believe that
digital strategies
will transform
marketing
by 2020
IT person
Must find or develop
software tools to
implement and
manage online
campaigns.
MarTech Annual business
conference that focuses on
overlap of marketing strategy
and technology
Actionable metrics
Measurement of campaign
results which enable businesses
to make informed decisions
Vanity metrics Measurements
of campaign results that appear
positive but are not meaningful
Growth hacking Low-cost
online marketing techniques,
such as using social media to
improve sales
NEED TO KNOW
RISE OF THE MARKETING TECHNOLOGIST
Online marketers rely on software to monitor and analyze campaigns, generate
content, and extract data. The job of the marketing technologist, who has
knowledge of both marketing and IT, requires a broad knowledge base.
IT
OPERATIONS
DATA AND
ANALYTICS
SOFTWARE
PROGRAMMING
MARKETING
SOFTWARE
SOCIAL AND
MOBILE
PLATFORMS
CONTENT
MARKETING
AND SEO
WEBSITE
ARCHITECTURE
US_252-253_Marketing_and_IT.indd 253 21/11/2014 16:40
How it works
There are a number of methods
companies use to collect customer
data. When there is contact between a
customer and the company, marketers
can use the opportunity to gather as
much information as possible. This
might happen at the point of sale in a
store or online, where marketers are
able to observe customer behavior.
Marketers may also choose to solicit
information directly by asking their
customers to fill in registration forms
and conducting telemarketing calls
or customer surveys.
Capturing key data is a priority for any business seeking to understand
the marketplace. However, the task requires the use of innovative
strategies to circumvent consumer sensitivity about privacy issues.
Customer
research
Conduct research on existing
customers or on those who
fit the customer profile.
Contact center
Monitor customer
calls and store data
on preferences and
purchase history.
Observations
Study customer’s
behavior while they
shop in a store or online.
Surveys
Gather customer
feedback via
email, text, or
mail, and
face-to-face
questionnaires.
Collecting data to create
consumer profile
Digital marketing and e-commerce have
accelerated the rate at which customer
information is gathered. Some methods
require the customer’s input, such as
questionnaires that appear online. Others,
such as website tracking, are possible
without the need to contact the customer.
Collecting
consumer data
Data collection errors
Barraging Using a customer’s data
to bombard them with information
on products viewed or sites visited
Overlooking technical flaws
Failing to integrate apps properly,
leading to inconsistency (and errors)
in collecting customer data
Using only automated systems
Neglecting the opportunity to
strengthen relationships with
customers by communicating
with them personally
WARNING
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254 255
how SaleS and marketing workS
Information management
Transactions
Ask questions at
checkout—in the store,
online, or on the phone.
Competitions
Use competitions to collect
information, from opinions
to demographic data.
Website trackers
Track website visitor’s
movement around a site and
see what attracts interest.
Social media
View customer’s
profile information
on social media.
58%
of marketers
could link data
to an individual
customer
by 2012
In this technological age, businesses have
the means to learn about their customers without
bombarding them with questions. Retailers, for
example, typically use three methods in stores
to capture information about the customer.
TECHNOLOGY AT
THE CHECKOUT
Loyalty program
A company may collect
information by inviting
customers to register for
a loyalty program that
offers an incentive. A
loyalty program also
helps track customer
preferences.
Point of sale
software
Computer software
programs that track a
customer’s purchases
are available, allowing
marketers to tailor offers
to their spending habits.
Mobile technology
The use of smartphones
enables marketers
to compile data, for
example the frequency
of customer visits and the
amount of time they
spend in the store.
loyalty card
loyalty card
US_254-255_Collecting_Consumer_Data.indd 255 21/11/2014 16:40
254 255
how SaleS and marketing workS
Information management
Transactions
Ask questions at
checkout—in the store,
online, or on the phone.
Competitions
Use competitions to collect
information, from opinions
to demographic data.
Website trackers
Track website visitor’s
movement around a site and
see what attracts interest.
Social media
View customer’s
profile information
on social media.
58%
of marketers
could link data
to an individual
customer
by 2012
In this technological age, businesses have
the means to learn about their customers without
bombarding them with questions. Retailers, for
example, typically use three methods in stores
to capture information about the customer.
TECHNOLOGY AT
THE CHECKOUT
Loyalty program
A company may collect
information by inviting
customers to register for
a loyalty program that
offers an incentive. A
loyalty program also
helps track customer
preferences.
Point of sale
software
Computer software
programs that track a
customer’s purchases
are available, allowing
marketers to tailor offers
to their spending habits.
Mobile technology
The use of smartphones
enables marketers
to compile data, for
example the frequency
of customer visits and the
amount of time they
spend in the store.
loyalty card
loyalty card
US_254-255_Collecting_Consumer_Data.indd 255 21/11/2014 16:40
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