In today’s data-driven era, businesses of all sizes are undergoing a significant transformation in their approach to marketing and decision-making. A recent panel discussion at Newtopia Now 2024 in Denver brought together industry experts to explore this shift and its profound impact on brand growth and maturity.
The panel featured Bradley Keefer, Chief Revenue Officer at Keen Decision Systems, Jon Tanklage, President of Marukan Vinegar, and Alyshah Walji from Vividly. These leaders shared valuable insights on how innovative mindsets and data-driven approaches are reshaping marketing strategies across industries.
From Gut-Checks to Data-Driven Decision Making
One of the key themes that emerged from the discussion was the importance of shifting from intuition-based to data-driven marketing. As Bradley Keefer pointed out, “Keen enables marketers to shift from defending budgets to consistently demonstrating their impact on the bottom line.”
This shift isn’t about abandoning intuition entirely, but rather about validating and enhancing it with hard data. For brands with limited resources, this means every marketing dollar can be allocated more effectively.
Optimizing Budgets in a Changing Market
Regardless of a company’s size, optimizing marketing spend is crucial. Jon Tanklage shared his experience with Marukan Vinegar:
“Keen shows how things change rapidly in even what we think are really stable channels. It allows us to make adjustments as the market changes.”
The real-time adjustments marketers can make within the Keen platform ensure that no marketing dollar is wasted as a result of various environmental factors and that every dollar is stretched as far as it can go.
This adaptability is vital in today’s fast-paced business environment. For brands looking to maximize the impact of their marketing budgets, the Keen platform can be game-changing. But the benefits of this data-driven approach extend far beyond just budget optimization.
Bridging the Gap with Finance
By enabling marketers to quantify the incremental impact of every marketing dollar spent, Keen’s platform changes the dynamic between marketing and finance departments. This quantifiable approach empowers marketers to have more productive conversations with CFOs and other stakeholders. Instead of defending budgets, marketers can demonstrate how their efforts directly contribute to the company’s financial goals – a shift that can be particularly impactful for businesses where resources are limited. As Keefer noted in the panel, this visibility not only improves decision-making but also fosters alignment between departments, breaking down silos across the organization.
Cost Savings Through Automation
The benefits of this unified, data-driven approach extend to operational efficiencies as well. Jon Tanklage highlighted another crucial advantage: “What today’s systems are good at is automation. This takes away labor costs. You will ultimately save because you won’t have to employ multiple people to achieve the same objective.”
Instead of maintaining large teams to manage different marketing channels, companies can operate with smaller, more focused teams. This not only leads to significant labor cost savings but also allows businesses to allocate resources more strategically and allows for organizations to align closely on business goals.
Clear Views for Informed Investment Strategies
The panel emphasized how these modern tools are revolutionizing business decision-making across the board. Alyshah Walji from Vividly summed it up: “Tools like Vividly and Keen give businesses clear views into their operations and help inform investment strategies.”
This sentiment was echoed by Bradley Keefer, who explained how Keen’s platform allows marketers to see the incremental impact of their efforts across different channels. By leveraging these data-driven insights, businesses can make more informed decisions about where to allocate their resources, ensuring that every dollar spent contributes effectively to growth and profitability.
The Future of Marketing Strategy
Data-driven marketing tools, like Keen, will play an increasingly central role in business strategy. They offer the insights and optimization capabilities necessary to compete in rapidly changing markets, while also providing the concrete evidence needed to justify and optimize marketing spend.
For companies like Marukan Vinegar, embracing these tools has opened new avenues for growth and efficiency. As more businesses follow suit, we can expect to see a continued evolution in how marketing decisions are made, budgets are allocated, and strategies are formed.
In this new landscape, the most successful marketers will be those who can harness the power of data to drive meaningful business outcomes, all while maintaining the creativity and human touch that defines great marketing. By optimizing budgets, adapting to market changes, quantifying marketing impact, and breaking down organizational silos, platforms like Keen are not just changing how we market – they’re transforming how businesses of all sizes operate and compete in today’s dynamic environment.
Want to learn how Keen can shift your approach to marketing? Request a demo and explore the benefits of marketing spend optimization with Keen.
