Data Management of the Highest Order

 

courtesy: engitech.en

I recently attended the Digital Marketing Summit for Financial Services & Advisors in NYC.  The sea-change in marketing as a science is nothing short of overwhelming. It’s not a stretch to feel data sets [Big Data] testing your senses of feasibility in order to select specific data that can help shape your marketing messages and strategies.

My fascination for everything that is Formula 1 is insatiable, including the way F1 teams develop new technologies to gain a competitive edge under the rules. In recent years, digital data procurement has become de rigueur , just as it has in marketing. There’s no escaping it, there’s no going back. The Summit was well attended, moderated with timely panels and break-out discussions; collectively the 2.5 days allowed me to get in over my head on various “How To….” and “Why Social Media is….” findings, benchmarks and strategies. Professionals from across the USA, Canada, Trinidad Tobago, Germany, England, and other countries were on hand.

The digital marketing and social media cognoscenti may know this already, but these are my Summit take-aways:

  • Be willing to experiment with your digital tactics, to try things and rule them in/out based on the experience & findings
  • Marketing, compliance, operations and client service represent the minimum of a purposeful “department” to keep your brand integrated in the customer experience. Working in silos will not provide insights or competitive advantages
  • It’s unreasonable to expect to have one, even two, IT professionals to manage the entirety that is digital marketing. You will need experts who specialize in a given field or discipline
  • Clients will expect “frictionless” and real-time interactions with financial services [Example: Amazon is testing AmazonGo, an app that allows you to physically walk into an Amazon store–bricks and mortar–select items  you want, and then walk out of the store. The app takes care of all the financial interactions that had just taken place, in real-time
  • Technology, however sophisticated, can never be a substitute, let alone a panacea, for person-to-person interaction

The diagram noted above is the [estimated] output of a Formula 1 car during practice at this year’s Malaysian GP. The data set is a representative overview of what the driver must know based on speed, gear selection, braking points, acceleration points, track sections and the use of the car’s DRS [Drag Reduction System] to optimize aerodynamics. That’s just a partial list. All told, an actual race sends 1.5 billion data samples to race engineers who monitor the action from their paddocks.

Having access to data sets is far different from the utilization of specific data sets that you believe can optimize your marketing strategy. Ultimately, two goals need to be accomplished: 1) is to consistently, authentically provide to the client the experience that your brand promises, and 2) to deliver on that promise profitably.

White Shed

Wyeth’s Dream

On the road again
Goin’ places that I’ve never been
Seein’ things that I may never see again
And I can’t wait to get on the road again

Johnny Cash & Willie Nelson

For me, one of the better ways to decrease the clutter in my head is to take a drive with camera in tow. Road photography. It should be a category of its own. Sometimes I have a location in mind, mostly I don’t. Where the road leads and the sun moves are my travel indicators. I chase the light, I welcome serendipity and I relish the freedom that time brings. Driving the back roads—especially those off the major interstates—offer catharsis. It works.

Evergreen

The Berkshires

Road photography. It’s a cousin to street photography, but instead of strolling along sidewalks, I’m in a car driving to nowhere in particular,  just to immerse myself in a tempo and ambiance that has little to do with work. At times I also take along my journal and if nothing arouses my visual creativity, I take the pen to the paper…or vice-versa.

The Red Hat Society

There are some bumps in life that feel big–which is true–and then there are those bumps that we make much larger than we should. Studies have generally shown that once you get past the age of 50, your attitude, expectations and other attributes tend to improve. Translation: you’re happier about life because you recognize how far you’ve come. It’s often said that finding happiness and jettisoning the bad stuff can be made easier with help from family and friends.

Generally speaking—and regardless of gender—those 50 and older who say they have a “good, satisfying life” remain physically and mentally active, make a commitment to stay healthy, keep close contact with family and friends, and champion a strong, positive attitude. Enter the Red Hat Society.

Before “social media” became a common term, the RHS was already well into collective connectiveness. Like the innumerable groups we see on LinkedIn, such as  the social media marketing group and various others, there’s a roster of common interests and attributes for like-minded professionals. But even before any of this was created, we are first and foremost social beings that need social interaction. For the RHS, there are 3 attributes: you must be at least 50 years of age, a woman and have a joie de vivre.

It’s one thing to read about groups or societies that enrich your own life, but it can’t compare to being in the thick of things. Case in point: the RHS lunch gathering in the Round Table Room of the Algonquin Hotel. One of several chapters in the Tri-State area, these bon vivants gathered to reconnect, to discover new connections, but above all, to have some fun.

I heard conversations that can be filed under “status” with sub-folders, one each for the kids, the spouse/significant other, the job, the vacation, and more. While I’m certain there were sad discussions within the constant din, much of what I heard involved a good amount of chuckling and laughing. And it was contagious. I got a kick being an accidental listener and observer.