As you’re probably aware, marketing is constantly evolving. With each evolution, marketing becomes a deeper and more meaningful facet of business and life. Two of the most important components of this current evolution include data and purpose, and the two work to strengthen each other. The new marketing value chain’s focus on data and insights can help us build and track clear objectives for purpose, which in turn makes doing good achievable and measurable.
As a quick refresher, the new marketing value chain proposed by Movéo in 2014 takes the place of the old “rules and tools” marketing value chain that was unadaptable and inflexible to changing market conditions. The new marketing value chain is based in three main points:
This approach allows marketers to gain a deeper understanding of why their marketing works, not just how it works.
Because the new marketing value chain is focused on finding out why marketing works, it naturally allows for a deeper understanding of marketing’s impact. The data and analytics on which this value chain relies allows marketers to understand how their efforts affect the world around them, and with this insight can better improve their positive impact.
The new marketing value chain forces marketers to quantify a business purpose and break it down into specific, measurable data points. By doing this, marketers are able to measure their impact in specific, quantifiable ways. This allows marketers to understand their influence and adapt operations to maximize their impact.
Marketers, let us know: how do you see your purpose and your data-based operations impacting each other?
Photo Credit: Highways Agency via Flickr Creative Commons
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