IA4
The business event I attended was Fall in Love with Marketing with guest
speaker Andrew Garberson. Andrew is the Director of Digital Marketing Strategy
for LunaMetrics and an adjunct professor for digital marketing at Chatham
University. The event was kicked off by Andrew’s presentation about analyzing
data in today’s data-saturated world. It was a great networking opportunity to
meet alumni and professionals within the business and marketing field.
First, Andrew
talked about how the the amount of data that exists in the world today is extremely
large compared to ten or twenty years ago. The large amount of data has changed
marketing strategies. For instance, people used to measure success by the
number of hits or views a website got, but now success is measured by the
website’s performance: what users thought when using the website, and the
quality of their experience.
Andrew also
mentioned his team and how diverse they are. Their wide range of experience
makes them more efficient, as they are able to better understand interactions,
data, and marketing as a group.
The concept Andrew
conveyed which impacted me most was that you must have the passion if you’re
pursuing a career in business or marketing, because the business world is
constantly changing, and you’ll have to constantly be learning in order to keep
up. Fields involving data analytics in particular are always evolving.
According to the
textbook, business careers are only “for the right people.” You must have
physical and emotional stamina—be able to put in long work days and even work
on weekends. Business practically becomes a lifestyle, because you must be
constantly reading the latest news and doing research to keep up with the
rapidly evolving business world. In order to do that, you must possess a strong
drive and be willing to research on your own.
The textbook supplements
Andrew’s presentation by explaining that marketing has changed forever due to
advancements in technology. Some companies don’t advertise anymore, because they
don’t need to. Advertising is meant to make people aware of a product, service,
or company, but social media can do that now.
Recent business
news stresses Andrew’s point about how keeping up with change is critical. The
average firm reorganizes every two to three years due to digitization. The
following article lays out a plan for effectively and efficiently dealing with
changes in the business world as they arise:
Organizations must
adapt with speed. The quicker they can adjust, the better. Strategies should be
made with adjustability taken into account: they should be ongoing with no
defined endpoint. The article also claims that dismantling an organization’s hierarchy
would be helpful, as it would put a stop to lengthy top-down decisions and give
everyone the chance to be a leader and make real-time decisions.
The following
article also relates to Andrew’s presentation. It’s about making the most of
data analytics. A company will perform better when it has data that will help
it to meet its purpose. The article goes on to explain how marketers and data
analyzers can learn what the “right” data is for a company. Data needs a
purpose and a plan. Organizations are looking for answers to questions such as
“how can we reduce costs?” and “how can we improve the quality of consumer
experience?” The article also says that in order to make the most out of data
and use it effectively/efficiently, a data analytics team should be
multi-skilled, just like how Andrew’s is.
Comments
Post a Comment