This week’s episode – 017: Matt Heinz

October 24, 2018

The only thing bigger than Matt Heinz’ appetite for Washington Huskies football is his passion for helping companies create and execute top-of-the-line marketing strategies. In today’s marketing ecosystem, technology is an unescapable — and too often, over-desired — piece of the puzzle. As Matt discusses, there’s a tendency among marketers to build sky-scraping tech stacks which are often worn as a badge of honor. But that isn’t actually what’s needed from an efficiency and customer experience standpoint. As for the future, Matt sees a greater emphasis on retention than acquisition.

“More #marketing orgs are thinking about the entire #customer lifecycle and delighting/retaining existing customers, which relieves pressure of acquisition” says @HeinzMarketing       CLICK TO TWEET

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Show details and highlights

► (1:33) Using marketing technology

► (4:30) The need for advanced reporting and analytics

► (6:51) Most needed tools: account selection, predictive/modeling technology

► (8:57) Don’t report on vanity metrics; look at the entire story to measure marketing’s impact

► (11:11) Technology isn’t your strategy, it’s the implementation of your strategy

► (14:49) Understanding the «why» behind artificial intelligence for your business

► (19:53) Think about auditing and tearing down your tech stack

► (24:18) Matt on the future of marketing: the funnel will be split vertically (not horizontally)

► (26:22) Rapid Fire!

“No one needs an #AI strategy — what is AI going to solve & how can a computer think FOR you to provide precise next steps to create velocity?” says @HeinzMarketing       CLICK TO TWEET

Start with strategy, then move to technology

Matt used to get calls from clients asking him to help them build their tech stack; this year, he’s getting calls from clients asking him to actually audit and tear down the tech stack! These companies realize they’ve built a costly, unsustainable, redundant tower of tech. More tools can actually lead to less productivity — it’s time we reverse our thinking and be thoughtful about why we have the tools we do. AI works in a similar way — AI is there to help you do your strategy better, but it’s not the strategy itself. Matt thinks there’s been an over-investment on net new acquisition that we fail to invest in customer success and build lifetime value. Sales is a lagging indicator of customer success — and mature businesses and marketing teams will start thinking about the full customer lifecycle.

«If you go to your executive team and show them a dashboard that talks about open rates, clicks, and volume-based marketing, you’re training your team to believe that you care about activity and tactics — not results and impact. The tactical, operational elements of marketing are still important, but you have to separate your operational dashboard from your impact dashboard. The dashboard you take back up to the executive team should NOT have open rates, clicks, and likes. It should really focus on ‘what is marketing’s measured contribution to revenue goals, and what is marketing’s influence on those revenue goals?’ Those are more complicated things to measure — but more sophisticated and advanced marketers realize that email open rates or white paper downloads only tell a small percent of the story.»

“Separate your operational & impact dashboard — the dashboard you take to your execs shouldn’t include opens, clicks, or likes… focus on #marketing influence on revenue” says @HeinzMarketing       CLICK TO TWEET

Lindsay’s key takeaways

  • Technology is not a strategy. First ask what problem you want to solve and what goals you want to achieve – and what experiences you’re trying to create. Then, leverage the right pieces of tech to make it happen, not the other way around.
  • Think like this: Goal > strategy > tactics. So why are we so often starting with technology and working backward?
  • No one needs an “AI strategy.” Think about the “why” behind it – what problem are you trying to solve? AI isn’t your strategy; neither is tech. Your strategy is your strategy. Tech and innovative applications of AI can be part of it, but it’s not in and of itself your strategy.

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