Marketing Inspiration #29.1: Two key questions for marketing strategy
Your weekly dose of data-driven marketing insights - The Shiny New Object podcast
On the Shiny New Object podcast, senior brand leaders share their vision for the future of data-driven marketing and their best tips to improve creative effectiveness.
"Ask yourself: would you watch your own ad if it came up in your feed?” - Rishi Mulgund, Performance Marketing Director, Haleon
To make data driven marketing successful, you need to follow your passion and treat the analysis you're looking at as if you're going through your real life every day. Rishi advises marketers to put themselves in the shoes of consumers by browsing ads like consumers do, instead of treating data like work. After all, consumers are not "work people" - they browse and watch ads just like marketers do in their personal time. So, if you want to find out how to create engaging ads that your end consumer will actually watch, consider if you yourself would be interested in this content, or would rather skip it.
Listen to all of Rishi’s data driven marketing tips on the Shiny New Object podcast.
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“Start looking past the quarters and the annual reviews and audit your plans on three horizons” - David Khoshpasand, Amazon Performance Marketing Manager at Hasbro
Instead of wondering why short-term plans and initiatives are falling short of delivering sustainable growth, businesses need to take learnings from the book “The Alchemy of Growth,” which is David’s shiny new object. The key learning from it is to always consider three horizons at the same time: the core business, the near term, and the growth opportunities that should keep profits going for the next 10 years.
Today, we are too profit driven, which makes long-term growth less of a focus for marketers. But David has found that having a continuous pipeline of business initiatives makes brands’ longevity easier to achieve. A good example of this is Disney: they kept their core business (cartoons) while expanding into theme parks and retail (shorter term), and now streaming services (long term). However, it’s essential that all three horizons are worked on or managed concurrently. Ask yourself: “what am I lacking in terms of future attention?”.
Find out how David does this and more top marketing tips in this episode of the podcast.