The Futur with Chris Do 200 - Making sense of data — with Neil Hoyne
11 snips
Aug 3, 2022 Neil Hoyne, Chief Measurement Strategist at Google and author of "Converted," dives into the complexities of data in marketing. He emphasizes the need for a human-centered approach, reminding listeners that relationships matter more than metrics. Discussing customer lifetime value and biases in data interpretation, Neil highlights how societal influences shape decision-making. He advocates for balancing intuition with machine learning while fostering genuine engagement over superficial metrics to build lasting customer loyalty.
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Be Better, Not Perfect
- Focus on being better than competitors, not perfect.
- Prioritize building real customer relationships over solely tracking metrics.
The Proposal Analogy
- Neil Hoyne compares modern marketing to proposing marriage on a first date.
- He explains that focusing on the immediate sale neglects nurturing long-term customer relationships.
Focus on Long-Term Value
- Prioritize long-term customer relationships and accept that not every interaction will lead to a deep connection.
- Calculate customer lifetime value (CLV) to predict relationship value and identify high-potential customers.
