Good Data Can’t Save Bad Marketing

Recently, a Harvard Business Review article suggested that the downfall of Tesco, a U.K. based grocery giant, was in part due to an overreliance on data-driven marketing practices. To be blunt, this idea is just wrong. Research shows that businesses effectively using customer analytics enjoy 10.5% year-over-year increase in annual company revenue, increase customer satisfaction by 8.1% annually – all the while increasing the number of positive social media mentions by 14.6% annually. But beyond these statistics, how do you explain the success of data-driven marketing giants like Amazon, Nordstrom, Dollar Shave Club, and other companies who consistently outperform their competitors through data-driven marketing practices? What’s more, the position taken by the HBR article doesn’t fully articulate the whole situation, as +Chuck Chapek Principal of JAC CRM Consulting notes:

Continue reading on +NewsCred