Data Driven: Harnessing Data and AI to Reinvent Customer Engagement

257 Pages·2018·5.89 MB·English

by  Tom Chavez

PRAISE FOR DATA DRIVEN 1
2
3
4
5
Marketers today face huge disruption driven by new paths to pur- 6
chase and an explosion of new technologies. This requires an 7
entirely new playbook for harnessing the power of data and AI 8
to create more relevant, engaging connections with consumers.
9
Data Driven is a must-read guide for any marketing professional
10
confronting this general challenge and seeking to drive top-line
11
revenue for brands.
12
—Deanie Eisner, President, Kellogg Company
13
In today’s digital, data-driven world, marketers have the oppor- 14
tunity to actually know what their customers like, what they hate, 15
and where they’re headed—provided they are up to speed on the 16
practical tools and helpful rules of thumb that Tom, Chris, and
17
Vivek share in this book. Data Driven is an indispensable work-
18
book for any marketing practitioner seeking to conquer these new
19
possibilities.
20
—Geoffrey Moore, Venture Partner,
21
Mohr Davidow Ventures and Wildcat Venture Partners,
and bestselling author of Crossing the Chasm 22
23
If you work in a business that depends on digital interaction
24
with consumers, much of what you thought you knew has been
25
upended in the last 10 years. This book is one of the fastest ways to
26
quickly learn what you need to know to succeed, with real-world
27
examples and frameworks you can use to effectively engage your
28
audiences.
—Alysia Borsia, CMO and Chief Data Officer, Meredith Corporation 29
30
00_Chavez.indd 1 8/22/18 1:40 PM
Data and AI are revolutionizing marketing, and Tom, Chris, and
Vivek are among the pioneers driving this tectonic shift. This book
is a terrific guide, full of unique insights for marketing and busi-
ness professionals, and anyone else interested in how data is fun-
damentally transforming our world.
—Jonathan Levin, Philip H. Knight Professor and
Dean of Stanford Graduate School of Business
There has never been a more bewildering—or exciting—time to be
a brand, and Chavez, O’Hara, and Vaidya are the smartest guides
we’ve got. Whether you’re a hard-headed marketer or just a curi-
ous soul, Data Driven shows you what makes modern data-driven
brands succeed.
—Martin Kihn, VP Research, Gartner, Inc., and author of House of Lies
Data offers explosive competitive possibilities across every busi-
ness sector, which is why investors are spending so much time
wrapping their heads around it. Data Driven is an essential guide-
book for anyone trying to separate hype from practical possibility,
written by pioneers and experts who are ready to share what they
know in terms the rest of us can quickly understand and apply. If
you’re an investor or an executive seeking to navigate new data-
driven opportunities, this is a must-read.
—Nino Marakovic, CEO and Managing Director, Sapphire Ventures
If you’re like many businesspeople, you’re likely bumping into
data-related topics at work but having a hard time parsing all the
jargon. Data Driven is the fastest way to pierce through all the
buzzwords and understand what data can practically do for your
company and your career.
—Greg Schott, CEO, MuleSoft, A Salesforce Company
00_Chavez.indd 2 8/22/18 1:40 PM
It’s rare to have a chance to learn about a field from someone who 1
combines the intellectual rigor of an academic, the ease of a good
2
storyteller, the vision of an industry-changing entrepreneur, and
3
the straightforward pragmatism of a company-building CEO. It is
4
especially rare to learn about a subject as important, pervasive,
5
and potentially confusing as data, particularly today. Tom, Chris,
6
and Vivek bring all their considerable experience to deliver on
that promise. 7
—Alex Rosen, Managing Director, Ridge Ventures 8
9
There are very few resources out there that can truly help new-
10
comers and seasoned marketers alike make sense of the
11
data-marketing landscape and hone their skills. This book does
12
just that, and was very much needed. Praise to the authors who
13
managed to demystify fairly complex topics in such a compelling
and engaging way—this is no small feat! 14
—Vincent Balusseau, MBA, PhD, Associate Professor 15
of Marketing, Audencia Business School 16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
00_Chavez.indd 3 8/22/18 1:40 PM
This page intentionally left blank
00_Chavez.indd 4 8/22/18 1:40 PM
1
2
3
4
5
6
DRIVEN
7
8
9
10
11
HARNESSING DATA AND AI TO
12
REINVENT CUSTOMER ENGAGEMENT
13
14
15
TOM CHAVEZ
16
CHRIS O’HARA 17
18
VIVEK VAIDYA
19
20
21
22
23
NEW YORK  CHICAGO  SAN FRANCISCO
24
ATHENS  LONDON  MADRID
MEXICO CITY  MILAN  NEW DELHI 25
SINGAPORE  SYDNEY  TORONTO
26
27
28
29
30
00_Chavez.indd 1 8/22/18 1:40 PM
Copyright © 2019 by Salesforce.com, Inc. All rights reserved. Except as permitted under the United
States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form
or by any means, or stored in a database or retrieval system, without the prior written permission of
the publisher.
ISBN: 978-1-26-044154-3
MHID: 1-26-044154-7
The material in this eBook also appears in the print version of this title: ISBN: 978-1-26-044153-6,
MHID: 1-26-044153-9.
eBook conversion by codeMantra
Version 1.0
All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after
every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit
of the trademark owner, with no intention of infringement of the trademark. Where such designations
appear in this book, they have been printed with initial caps.
McGraw-Hill Education eBooks are available at special quantity discounts to use as premiums and
sales promotions or for use in corporate training programs. To contact a representative, please visit
the Contact Us page at www.mhprofessional.com.
Design by Lee Fukui and Mauna Eichner
TERMS OF USE
This is a copyrighted work and McGraw-Hill Education and its licensors reserve all rights in and to
the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of
1976 and the right to store and retrieve one copy of the work, you may not decompile, disassemble,
reverse engineer, reproduce, modify, create derivative works based upon, transmit, distribute, dis-
seminate, sell, publish or sublicense the work or any part of it without McGraw-Hill Education’s
prior consent. You may use the work for your own noncommercial and personal use; any other use
of the work is strictly prohibited. Your right to use the work may be terminated if you fail to comply
with these terms.
THE WORK IS PROVIDED “AS IS.” McGRAW-HILL EDUCATION AND ITS LICENSORS
MAKE NO GUARANTEES OR WARRANTIES AS TO THE ACCURACY, ADEQUACY OR
COMPLETENESS OF OR RESULTS TO BE OBTAINED FROM USING THE WORK, INCLUD-
ING ANY INFORMATION THAT CAN BE ACCESSED THROUGH THE WORK VIA HYPER-
LINK OR OTHERWISE, AND EXPRESSLY DISCLAIM ANY WARRANTY, EXPRESS OR
IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANT-
ABILITY OR FITNESS FOR A PARTICULAR PURPOSE. McGraw-Hill Education and its licen-
sors do not warrant or guarantee that the functions contained in the work will meet your requirements
or that its operation will be uninterrupted or error free. Neither McGraw-Hill Education nor its licen-
sors shall be liable to you or anyone else for any inaccuracy, error or omission, regardless of cause, in
the work or for any damages resulting therefrom. McGraw-Hill Education has no responsibility for
the content of any information accessed through the work. Under no circumstances shall McGraw-
Hill Education and/or its licensors be liable for any indirect, incidental, special, punitive, consequen-
tial or similar damages that result from the use of or inability to use the work, even if any of them has
been advised of the possibility of such damages. This limitation of liability shall apply to any claim
or cause whatsoever whether such claim or cause arises in contract, tort or otherwise.
1
2
3
4
5
6
To all the Krazies@Krux who believed and built
7
something great together—don’t relent!
8
—TC and VV
9
To Noni Reed O’Hara, 79, who always believed in me, 10
and Mia Meredith O’Hara, 11, who inspires me 11
with her courage every single day. 12
—COH 13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
00_Chavez.indd 3 8/22/18 1:40 PM
This page intentionally left blank
00_Chavez.indd 4 8/22/18 1:40 PM
1
2
CONTENTS
3
4
5
6
PREFACE 7
ORIGINS 8
vii 9
10
INTRODUCTION 11
THE MAGIC COFFEE MAKER 12
xv 13
14
CHAPTER 1 15
THE EMERGENCE OF PEOPLE DATA 16
1 17
18
CHAPTER 2 19
THREE CORE PRINCIPLES FOR BUILDING 20
A WINNING DATA STRATEGY 21
33 22
23
CHAPTER 3 24
DATA IN, DATA OUT 25
55 26
27
CHAPTER 4 28
THE FIVE SOURCES OF DATA-DRIVEN POWER 29
85 30
v
00_Chavez.indd 5 8/22/18 1:40 PM