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What Is The “Data Downside” and How Do You Avoid It?

Posted on September 4, 2014 by Glenn Gow

Collecting customer feedback was once as slow, expensive and difficult as standing in a shopping center with a clipboard. Enter marketing technology such as Survey Monkey, which empowers the collection of 2 million online survey responses every day. Bennett Porter, Vice President of Marketing Communications for SurveyMonkey, lauds the ability of this technology to deliver marketing intelligence into the hands of marketers, but says the “right data” to watch is that which really affects your business.

Identifying that data, verifying it through trials and comparison of implicit and explicit data, and taking action on the marketing intelligence gathered, is the focus of this Moneyball for Marketing podcast. Tune in to learn the following: 

A Downside to Data: A challenge of looking for “the right data” is that it may not be what you theorized it to be. Bennett cautions marketers not to burn bridges with buyers by collecting marketing intelligence and then failing to enact the changes buyers want.  

Information Agility: Bennett shares how marketing technology, like SurveyMonkey, empowers marketers to test and obtain feedback on multiple creative ideas, instead of just one or two. This enables campaigns to be developed not only more quickly and efficiently, but also results in them being infused with robust marketing intelligence.

Explicit Wisdom: Implicit data — such as that gathered from credit card usage or sales trends — is also often a lagging indicator. It tells you “what” but it doesn’t tell you “why.” Bennett explains how survey marketing technology allows explicit marketing intelligence to be gathered at a scale like never before, and describes how to use implicit and explicit data as checks for each other.

That’s No Baloney: Bennett shares a case by which Oscar Meyer discovered that the implicit indicators of lagging baloney sales proved to be the “wrong data” in the brand’s search for a solution, and shows how the right marketing intelligence gathered through marketing technology led to a multi-billion dollar transformation of the product and the brand.

Bennett Porter is the Vice President of Marketing Communications at SurveyMonkey, the world’s largest survey company helping customers collect over two million online survey responses every day. SurveyMonkey has revolutionized the way people give and take feedback making it accessible, easy and affordable for everyone. Bennett manages the brand, consumer marketing and media relations at SurveyMonkey, including partner’s internal and external communications and consumer marketing programs.
Read the full transcript here

Glenn Gow

Glenn Gow is an expert in marketing performance, Coach, Board Advisor, Author, Speaker, Podcast Host and Founder & Advisor of Crimson Marketing. Follow me on TwitterLinkedInGoogle+. To get a free copy of Crimson’s One-Page Marketing Metrics Funnel, visit here.

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