Wednesday, October 11, 2006

Remarkable Analytics

Why do we need to analyze?

Seth Godin summarizes it well in The Purple Cow: "Marketing isn't guaranteed."

In the face of that fact there are three paths we could take regarding measuring marketing's impact. First, we could stick our heads in the ground and not worry about it. Second, we could throw spaghetti on the wall and see what sticks-- or is that sales? Third, we can try to figure out what actually works.

Some simple logic suggests option three is the only viable route. It's budget season so I'm willing to bet most firms are going for a growth rate that exceeds the category average because 'we're better'. Now what is in short supply when each individual firm estimates growth greater than the overall market? Customers. They are the scarce resource So, achieving our objectives must come at the expense of the other guys. That means our analytics have to be sharper, quicker, and more in tune with customer needs. Or in the vernacular of the Cow -- "remarkable."

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