Data and analytics play essential roles when it comes to marketing. But effectively using data to improve marketing is easier said than done. According to Scott Holden (LinkedIn | Twitter), CMO of ThoughtSpot, technology needs to be a part of the solution.
On this episode, Scott sits down with Ian to dig a bit deeper into data-driven marketing and the tools marketers need in order to better access insights. They also discuss Scott's journey to ThoughtSpot, what it means to be on the same page with other departments as the CMO, and much more!
5 Key Takeaways: - "You have to get comfortable being more transparent." - Scott Holden - Cease and desist letters shouldn't be what you're shooting for. However, when it comes to marketing against your competition, it could mean you hit the mark. - Scott states, "If you're keeping the sales team fed, it buys you the right to do the cool stuff [as marketers]." Marketing and sales should be on the same page and a win for one team should be a win for the other. - Scott also argues, "In the absence of a framework or in the absence of information or communication, people just assume you're not doing your job." It's your job as the CMO to set these frameworks so others know how to measure your abilities. - Don't be afraid to stick to your value proposition and your core messaging. A lot of marketers are trying to ride trends and go all over the place. Stay constant.
Bio: Scott is the Chief Marketing Officer of ThoughtSpot, a company focused on disrupting the business intelligence industry with search & AI-driven analytics. Scott's career journey began at Chase, where he was a financial analyst. Soon after, Scott went to JP Morgan and then Google, before landing at Salesforce. After seven years, Scott served as the VP of Marketing for the Salesforce Platform. In 2014, Scott made a move to ThoughtSpot, where he served as the vice president of marketing before becoming CMO.
Notes & Quotes: How Scott Got Into Marking - (1:30) - Scott started as an investment banker, but he wanted to learn to be an operator. Soon after, he fell in love with product management/product marketing. - He started at Salesforce when there were 1,500 employees and left when there were nearly 20,000. - Scott went to ThoughtSpot because he wanted the startup experience and he believed in the mission of ThoughtSpot.
ThoughtSpot & Data-Driven Marketing - (5:30) - Scott is genuinely interested by analytics. - "When it comes to marketing, there is absolutely a smashing of left brain and right brain." - Most analytics are designed for data analysts, not marketers. Scott was interested in getting rid of the gatekeeper. "Why can't everybody be a creator of their own insights?" - Scott Holden - Referenced: The Seven Secrets of a Data-driven CMO by Scott - In the same way that Google has enabled people to gain access to answers to their questions, Scott wants ThoughtSpot to enable curiosity and the ability for people to generate their own insights. - "Marketers are running hundreds and thousands of campaigns at a time across all these different channels with all these different personas, and the real insights are in the details." - Scott Holden - There is a danger of following A/B testing and data too much; you may lose the story. Scott mentions, "I think the most important thing that matters today is the story and the narrative and the mission of the companies that we are all behind." - Scott Holden - "If you don't have that ability to drill into the details both through the user experience that matters or through the compute power, I mean, the ugly truth of the BI world is that these products have historically been ridiculously slow." - Scott Holden
Real-Time Insights (20:00) - Historically, real-time insights haven't been possible, but they enable unparalleled flexibility and responsiveness. - "One of the challenges as marketers is that we know that some of the things that we do don't work. And sometimes those campaigns that don't work are expensive. And so shining a light on that can be a little bit of a scary proposition." - Scott Holden
Favorite Campaigns - (25:30) - Scott loves getting a cease and desist letter. It means you hit the mark. - He also enjoyed a campaign he did where he gave away free Bose headphones in order to take a demo. It felt like it didn't work, but the data showed that it did. - "The data can give you a reason to show empathy to the other side." - Scott Holden - "The thing I celebrate the most is when sales tell us that we get it." - Scott Holden
Getting on the Same Page - (34:00) - "The best kind of marketing is when people don't feel like they're being sold to. They feel like they're being educated. And when it comes to salespeople, when it comes to the CMO, it's really important to break it down." - Scott Holden - "In the absence of communication, people think you're not doing your job." - Scott Holden - "If you're creating a category, you have to be consistent." - Scott Holden - Stick to your value proposition and your core messaging. A lot of marketers are trying to ride trends and go all over the place. Stay constant.
Pardot Lightning Round - (51:40) - Most fun app on your phone: Redfin - Favorite ad campaign: All the Ryan Renolds/Deadpool Aviation Gin commercials - One thing Scott wished he knew when he first became CMO: Leadership can be lonely, keep those networks as long as possible - Favorite book or podcasts that Scott has read or listened to recently: Why We Sleep by Matthew Walker - Favorite one-day getaway in the bay area: Sonoma or Napa - The question that Scott never gets asked that he wishes he was asked more often: "How do you lead?"
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