Data Comes First
Firstly, Dr Philip Kotler defined marketing as, “The science and art of exploring, creating and delivering value to satisfy the needs of a target market as a profit” (2001-2012).
Secondly, Kotler’s juxtaposition of science and art suggests that an equal weighting between these 2 can achieve marketing aims. However, in today’s data saturated world, marketing is seen as a scientific pursuit at heart.
Fuelled by big data and predictive AI, marketing as a science demands a data-driven, integrated and experimental approach. Art is no longer science’s equal. Below, we explore the 3 tenets of a scientific marketing approach and outline how to make the most of the science of marketing.
If you’d like to speak with one of the Think Beyond team direct call 01625 682110.
Marketing as a science: 3 key tenets and what they mean for you
1. Data comes first
It may seem obvious, but any marketing action is founded on data. Want to know whether an email campaign generates profit? Look at your data. Want to know when to post on social to maximise revenue? Look at your data.
At a strategic level, your marketing plan and business plans are guided by accurate data insights into buyer personas, past performance and your macro environment through PESTLE and SWOT analysis. Thomas Buckley, Director at Arctec Group Ltd adds “Using your data in Marketing has the power to reveal the truth, and remove suspicion and gut feeling. If you embrace your data, use it in key decisions, then you will get to where you want to go, faster!”
Be prepared to invest in research and consider hiring a marketing consultant for data discovery and analysis to gain the most accurate and objective results. A business consultant ensures that your research is transparent, unbiased and brings considerable expertise to help you both interpret and manage your insights.
2. Customer journeys can be empirically tracked and modelled
In our digital, data-filled world, customer journeys are tracked across multiple touch points and audiences segmented to granular levels. In this respect, marketing closely resembles an empirical science and shares with the sciences of psychology and sociology a desire to find and understand patterns of behaviour and the motivations behind these cycles.
The rise of predictive marketing and clever automation allows us to make the most of buyer patterns. Predictive analytics combine the latest in AI machine learning with past data to predict which marketing actions are most likely to succeed at a given point in the sales cycle. Smart automations, particularly when integrated with CRM, take the guesswork away from lead scoring. This offers personalised messaging to make prospects feel personally addressed, hence the science of lead nurturing.
3. It is open to experimentation
Marketing, at its core, is open to controlled experiment. A good marketer is also a good scientist and someone who is prepared to test and retest hypotheses to gain acute insights. The value lies in turning these insights into actionable, profitable actions. Want to know which content will generate the most customer engagement? Conduct A/B testing. Launching a new product or service? Conduct qualitative research to influence key decisions such as brand name. Here, science moulds art and the creative process.
The art of applying science to your marketing strategy
Science, not art, drives marketing. Yet there is a certain artistry required to marketing as science. Inaccurate data, biased readings, poorly defined audience segments and experiments without hypotheses represent just some of the dangers of ill-applied marketing science.
Partnering with a consultant on your marketing strategy is one of the most effective ways to adopt a marketing as a science approach. Consultants bring a lot of business acumen and an impartiality to data collection and analysis that internal teams lack. A consultant’s knowledge of best practices and experience in latest innovations means that they can help steer your predictive and automated solutions. Furthermore, a consultant will support and guide your experiment to gain actionable insights that translate into profit.
Why you should Think Beyond art and go for marketing science
Think Beyond is a marketing consultancy with a track record in delivering marketing solutions. Our team work with you on all facets of strategy and your marketing development. We are marketing consultants and provide marketing agency support including digital marketing services. Our approach is based on data, numbers and return on investment.
Also, to speak with one of our qualified marketers, call 01625 682110.
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