Data is useless 90% of the time. Like how many times are you making decisions based on data? Most of the marketers I know just wing it. (Or we call it eyeballing) And how many times does that result in a positive outcome? How many of the weekly zoom meetings with account managers yield any insights? To be honest, most account managers are clueless about what to do with all the data they collect. E.g. we have higher than average CTR for our new AI boosted ad, so this week we will monitor and see if it continues to perform well. Next week meeting, the ad CTR dropped but it probably means ad fatigue and it's time for a new ad. What have we actually learned? Nothing. It's the same thing with ecommerce sales. Up this week down next week. The truth is 99% of performance marketer don't know how to read data. What's important, what's signal and what's noise. If you'd like to have a chat about this topic feel free to comment below. #marketing #dataanalytics
CoCreation.World
8mo
It's a constant challenge to turn data into actionable insights in marketing. 📊 Ryan Tiong
Business Analytics, Data Engineering
8moOr to some marketeers, they're measured by how much they're spending on various channels yet they don't have what I call P&L literacy. They tend to only look on their so-called KPIs which eventually may not be performing so well when their company is assessed as a whole (such as by potential investors who look into EBIT growth). While I can understand their sentiments on spending to increase visibility, care must also be taken to ensure bottom line growth.