CMO of Sports Authority on How Marketers Can Build A Data-Centric Culture
Leveraging data to achieve a competitive advantage is a priority for most C-level leaders. The benefits are clear. An Economist Intelligence Unit survey of 530 senior executives found that 89% didn’t believe they were significantly better than their peers at leveraging data, indicating just how hard it is to move beyond desire to competency.
Marketing leaders are often at the center of improving data competency as they are the conduit through which firm-level transformation occurs. To better understand how to effectively make the change, I talked with Ron Stoupa, the CMO of Sports Authority and former CMO of Pep Boys, regarding how he was able to champion a data literacy movement. What follows are Stoupa’s insights.
Q: How has marketing changed over the past 20 years?
A: The marketing profession from 20 years ago, which was about big ideas, pretty pictures and fluff, is pretty much dead. About a third of CMOs use data and the balance aren’t as data-focused. In those organizations with marketers who have strong data competency, the firm’s leaders are less likely to be the finance department and more likely to be shared across the operations, IT, and marketing leaders. This is because these functions have more consumer data and are able to use it to transform business practices. Data competency is the source of power for CMOs sitting in the C-suite.
Q: Why does being a data-centered marketer matter?
A: The reality is that the consumer is willing to hand over a lot of data. They will give marketers information that you can’t find any other place. However…
Leveraging data to achieve a competitive advantage is a priority for most C-level leaders. Marketing leaders are often at the center of improving data competency as they are the conduit through which firm-level transformation occurs.
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