Meagen Eisenberg On Measuring What Matters
Meagen Eisenberg brings more than 19 years of experience in the high-tech industry to her role as CMO of MongoDB. She advises for several tech startups and has been recognized as one of the Top 25 B2B marketing influencers according to InsideView. Hear her speak at INmarket on ROI Marketing: The CMO’s Perspective On How To Compete And Win (July 8 in San Francisco).
6s: Tell us about your background and experience, particularly with data, and your current role at MongoDB?
ME: I have a BS degree in MIS (Management Information Systems) with a focus on database and minor in computer science from California Polytechnic State University – San Luis Obispo. I was APICS-certified early in my career when I was an IT engineer at Cisco Systems within manufacturing IT. I also received my MBA from Yale School of Management (with a focus on marketing and strategy). I have a deep love of marketing technology and cut my teeth on Eloqua. Today, I am CMO of MongoDB, an open-source modern database software company.
6s:Why do you believe in the power of data, and especially in data-driven marketing?
ME: You measure what matters because what matters measures. You need the insights from data to make informed and better decisions. And you need data or information in marketing to deliver the right message at the right time to the right person.
6s: What are the biggest pain points you are seeing for today’s marketers?
ME: The proliferation of data. The empowered consumer is generating a lot of data – for example, just what’s coming out of our phones is a whole host of recordable data points:
- Location-based & geospatial
- Sensor data
- User behavior
- Point of sales
- Web-browser behavior
- Customer data
Marketers are, in part, responsible for this ocean of data. They’ve created the content and delivered it through the plethora of channels available. We are the reason people are obsessed with their devices. We have created all the web content, videos, rich media ads, apps for mobile phones and social chatter that aims to capture a consumer’s attention.
And we can’t forget all of the data being created by the Internet of Things. When you factor it all together, the numbers get so high that industry analysts are struggling to come to a consensus on where we’ll end up in just a few short years. We’ve seen estimates from 44 zettabytes to over 400 zettabytes of data. Today, a Boeing 787 generates over 40 terabytes of data per hour in flight. That’s just incredible.
Our modern-day marketers have to wrestle with an overwhelming and unprecedented volume and variety of data – so much more than our forefathers could have ever imagined.
6s: What is data changing (or simplifying) for today’s CMOs?
More budget and more technologists in marketing. Because of the amount of data we must access and act on, marketers have evolved out of necessity to be technologists because we need to provide these minimum user requirements of the very empowered modern day consumer. And in terms of technology budgets, it shows.
A big trend that is often talked about is that marketers are gaining a huge and growing portion of a company’s IT budget. Back in 2012, Gartner predicted that in five years (by 2017), CMOs would overtake CIOs in terms of IT spend. So this has obviously made the CIO pay attention.
This trend intuitively makes sense, right? Because how do you deliver on all of these requirements? It’s very complex stuff to comprehend. To be able to deliver that holy grail of marketing: right offer, right place and at the right time.
You can’t do it without making big technology investments in marketing automation and in building your own systems. You have to have a technologist on your team or your CIO in your corner for this. Your IT partners know how to translate these user requirements into applications that serve the modern customer experience.
So to thrive and not perish, the marketer and technologist have to get in a room together and collaborate. Companies who do this successfully do amazing things. Amazon is a great example – with their sophisticated predictive engine – of what can happen when that relationship works really well.
6s: What advice do you have for next generation marketers to succeed?
ME: Here’s a start…
- Embrace technology
- Hire a technologist / web developer
- Partner with your CIO / technology team
- Always learn / always meet with vendors to see what is out there
6s: What are some of the best new tools and technologies you are seeing for data-driven marketing?
- MAP vendors (Eloqua, Marketo, Pardot, ExactTarget)
- Predictive analytics and scoring (6sense, Mintigo, Lattice Engines, Fliptop, Infer, Everstring)
- Social media tools (Insightpool, Social123, GaggleAmp, Social Chorus, Sprinklr)
- A/B testing and SEO/SEM (Optimizely, Apptimize, Captora)
- Customer marketing tools (Gainsight, Bluenose Analytics, Influitive)
6s: How is data-driven marketing changing the traditional marketing-sales relationship?
ME: It’s forging a stronger partnership and more transparency between sales and marketing and driving better communications and alignment on action. It’s also driving sales and marketing efficiencies and shortening the sales cycle through better scoring, nurturing and measurement.