Fortune Favors The Brave Marketer (And Punishes The Data Ignorant)

This post is by Kip Knight from Thomvest Ventures – Medium

Original artwork by Katie Rhead

The ancient Romans believed in a philosophy of “fortis fortuna adiuvat” which in English means “fortune favors the brave.” That same leadership principle is valid today for marketers and how they use (or ignore) data and technology to make high-stakes business decisions on a timely basis.

There has never been more consumer information available to marketers to help them listen and respond to customers. Ironically, for many marketing leaders, this growing mountain of data has led to “analysis paralysis”, which in turn prevents them from taking the right action at the right time to respond to an ever-changing marketplace.

This is where innovative MarTech companies such as Netbase-Quid can mean the difference between having the confidence to make bold, brave marketing decisions, and wondering what to do next and when to do it. As Donald Rumsfeld put it, “There are known knowns…and there are known unknowns. But there are also unknown unknowns — things we do not know we don’t know.” It’s those “unknown unknowns” that marketers struggle with. They don’t know how to leverage MarTech effectively to help make sense of all of their structured and unstructured data which in turn could help them uncover hidden business risks and opportunities.

Let’s look at some real-world examples where the ability to analyze consumer data in real-time quickly and accurately made the difference between success and failure in the marketplace:

Nike’s Colin Kaepernick Advertising Campaign : On September 3, 2018, Colin Kapernick posted a Tweet that simply stated “Believe in (Read more…)