Consulting firm McKinsey has waded into the age old debate over data versus creativity by revealing what everyone in the DM industry has been banging on about for years; marketers who use data to drive their creativity can get “double bubble” revenue growth compared to those who do not.
The company has found a chasm between those marketers who feel there is no relationship between data and creativity, and those who believe data-driven practices can improve the customer experience and raise the bar on creativity.
Perhaps surprisingly, in this age where data drives everything, McKinsey discovered a “significant minority” of marketing troglodytes who fail to embrace data and analytics into the creative process.
McKinsey global lead of digital marketing operations and technology Jason Heller said: “There is this bifurcated world where you have some chief marketing officers who have this religious zealousness over protecting the soul of creativity in their brand and feel like data has no role in it whatsoever.
“And then there’s this other group of CMOs who feel like data is actually enhancing creativity.”
McKinsey teamed up with the and interviewed more than 200 chief marketing officers for its report,
The report, “The Perfect Union: Unlocking the Next Wave of Growth by Unifying Creativity and Analytics”, was carried out with US Association of National Advertisers, which has just bought out the US DMA.
It also carried out a survey of companies on the American S&P 500 stock market index, and discovered that those businesses which have united data and creativity generated an average of 10% revenue growth, compared to 5% for those businesses that did not.
The report states: Some creatives believe “creativity is an instinctual process of building emotional bonds with consumers” and think that using “too much quantitative analysis” will mean “the magic dies” .
However, McKinsey claimed the best marketers recognise that integrating creativity and data can improve many areas, including brand strategy, consumer insights, customer experience and product design.
“It’s not just about bringing data into the creative process. It’s about bringing creativity into the data process. This is a flow at both ends,” the report concluded.
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