3 Reasons, High Data IQ is Important for Marketers

"The biggest communication problem is we do not listen to understand.We listen to reply".

I love the show Mad Men—and not just because Don Draper is such eye candy. As a marketer, I find the show to be the perfect fantasy world: Creative people dream up ideas in the morning then spend the afternoon sipping martinis and hoping their brilliant ideas work out. 

So, here are the 3 reasons why marketer needs to have a high data I.Q

PR MEETS MARKETING

In the real world, however, screenwriters can't ensure our success, so we rely on data. But data is not a crutch nor a replacement for creativity. Data is the means to predict the outcomes of our efforts with unprecedented accuracy.

The effectiveness of our marketing efforts heavily relies on our proficiency to use the data at our disposal—in other words, it relies on our data IQ. All marketers need it, and all the best marketers have it in spades.

Here are three reasons why you, as a marketer, want to have a high data IQ.

1. Data gives you creative freedom

I'm a "real-time data" kind of chief marketing officer (CMO). Knowing the real-time results of every activity my team undertakes lets me try new things and take more risks.

Think about this scenario without data: A team member comes up with a zany social media idea, but it represents a significant investment. Without data to show a return, the answer is undoubtedly No. That's much too risky a bet when every dollar counts!

On the flip side, when I have data, I can say yes because I can watch the idea's success (or failure) in real time. Things aren't working out? Pull the plug. Is the idea working better than anticipated? Put more resources against it, or mirror that campaign for other targets and continue testing.

With data, nothing is too crazy.

2. You can create better marketing plans

Marketing is the engine that drives company success. Leads have to be generated before they can be closed. Consumers must be aware of your brand before they can buy from you.

That's why data IQ drives higher conversions and better sales. When you have data behind every strategy you use, the job of creating a marketing plan is no longer mired in "what works and what doesn't" but becomes "what works and what works better."

And I'm not speaking from pie-in-the-sky platitudes. I've seen marketers rework marketing plans based on solid data and increase revenue by 20%–30% year-over-year. You can only deliver those kinds of results when you have the data to optimize the work you're doing.

3. You can drive your own compensation

With every step up the corporate ladder, my compensation has become increasingly tied to marketing spend ROI. And I'm not the only one. Whether part of a compensation package or the meat of a bonus structure, ROI is counting in more marketers' compensation plans today.
                     If you don't have a high data IQ, you're missing the ability to determine your own compensation. On the other hand, a high data IQ allows you to give yourself a bigger paycheck by driving exactly those areas that boost your compensation.

"When you have control over your data, you have control over everything."

So, while I envy Don Draper's three-martini lunches, I would never trade my data for a 1960s pencil skirt and everything that goes with it. I don't need screenwriters to write my success. When I'm armed with data, I write it myself.

Article: Heather Zynczak 
Edited by: PR Meets Marketing

Don’t Treat Every Press Release the Same

This is where PR Meets Marketing.

• If your organisation goes through the same motions each time it sends out a press release, it is time to take a good look at your approach. 
• Just organizing the information to fit in a press-release format and sending it out to your media list isn’isn't enough. 
• If you are wondering why some organizations get more attention than others – it’s in the details. Sure, it helps when you have a great story to tell – but that alone isn’t enough if the pitch for that great story is not being thrown correctly. 
• Do you have different lists for different types of press releases? This is where the novices get separated from the seasoned pros. 
• You would be surprised to find out how many calendar editors receive hard news releases and how many news editors get calendar listings. 
• Journalists are extremely busy, and on top of that, they are receiving dozens of press releases and story pitches each hour (and in some cases, each minute). 
• Do them a favor and customize your press-release distributions. 
• Understand who is on your list. If you manage a small media-contact list and you have never picked up the phone and spoken to them directly, now’s the time.
• Ask them what their role is and what types of subjects they cover. 
• How do they prefer to receive releases? Email? Fax? A short email pitch (and no release)? If your list is larger, you may not be able to call each one, but you should take the time to look at each contact on that list. 
• Understand your list. Are the email addresses general ones or personal. 
• What types of media outlets are on the list? Television? Daily newspapers? Weeklies? Magazines? Each one of these categories is completely different from the other and the same press release shouldn’t necessarily be sent to them. 
• If a news release doesn’t offer an opportunity for good video, television news simply is not going to be interested. And magazines plan their stories months in advance, and have published editorial calendars you should become familiar with. 
• If your organization has regular events (such as performing arts and community events), it is extremely important to understand how the local papers manage their calendar listings. If you know whom to send them to, by when and in what format, it is almost guaranteed free publicity. 
• If you aren’t having any luck but notice an organization that is, simply try giving your counterpart at that organization a call and asking them out for coffee to discuss his or her genius. Learn from others. Know when not to send a press release. 
• If you have a small local paper that loves publishing stories like “local business gives free color copies to organisation,” then go ahead and send it – but only to them. Your organization’s website is also an appropriate place for a story like this (also, be sure to have the business publish it on their website and in their company newsletter, if they have one). But don’t send non-newsworthy items like this to your media contacts. That’s no way to get their attention.