In the movie that inspired the name of this podcast—Moneyball—Billy Beane of the Oakland Athletics did not just observe the existing metrics of the day, such as RBI and Home Runs. Instead, he determined the metric that really mattered to the team—times on base—and used this as the A’s key metric. Finding the unique metric that matters for your organization, rallying the team around consistent observance of that metric and then using automation to scale up into a revenue generating machine are the three keys to successfully using analytics for marketing. So says Russ Mann, seasoned marketing analyst and CMO of workflow automation software firm Nintex. Russ shares various stories from his fascinating career at the front line of marketing analytics in this episode of Moneyball for Marketing. Highlights include:
Don’t gamble—Win: What does counting cards in a Las Vegas casino have to do with marketing tactics? A lot, says Russ. He shares the marketing insight gained from his meeting with Jeff Ma—infamous card counter, and real-life inspiration for the movie “Bringing Down the House.”
Marketing even a CFO could love: “Make sure to be partnering with your CFO and explaining the marketing ROI when you’re looking for budget,” advises Russ. He shares the exact metrics and marketing tactics he used to expand his budget at Fair Isaac Corporation from $200k to $2 million within one year.
Early Innings: “I think we are still at the…early innings…of marketing analytics”, says Russ, “There’s some great packages out there and I think folks are still developing the automation and the analytics.” Then he tells us exactly which packages and people marketing analysts need to know about to stay on top of their game.
Russ Mann is the CMO of Nintex, the global standard in workflow automation software for mobile, Cloud, on-premises, and hybrid environments. In this role Russ is responsible for the global brand, demand, digital product, and field marketing initiatives of the company.
Read the full transcript here
Glenn Gow is an expert in marketing performance, Coach, Board Advisor, Author, Speaker, Podcast Host and Founder & Advisor of Crimson Marketing. Follow me on Twitter, LinkedIn, Google+. To get a free copy of Crimson’s One-Page Marketing Metrics Funnel, visit here.