Day 3 of the MediaPost Brand Marketers Summit is underway with a presentation by Paul Barrett, Senior Manager – Big Data, Accenture Interactive. Barrett, who works in a practice focusing on the CMO agenda, says the executives are dealing with disruptions from technology, partly because of the data explosion.
"It's not getting any easier," he said.
He says in a CMO insight study, results showed the top-three maketing issues are: increasing sales, getting new customers and keeping customers you currently have. Managing the company's brand falls behind that.
Barrett says it should be higher because it "has never really been easily measured." One issue: digital marketing infrastructure makes its harder.
Barrett thinks brand management is so crucial because they "differeniate you from competitors" and "brand value can be destroyed in 250 milliseconds."
He says opportunities in the brand marketing space that big data offers aren't necessarily new, but have been "reenergized through the use of some of these new technologies." He says one benefit is costs for have lowered for big data management.
Time series analysis can be a boon -- the ability to structure multiple time series without spending billions of dollars in infrastructure is "amazing," Barrett said.