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Three tips for data-driven marketing from the Las Vegas Sands
Rom Hendler is a firm believer in managing marketing with analytics. “Creative marketing campaigns are important, but the nuts and bolts of great marketing are driven by analytics and a tight alignment between the chief marketing officer and the chief information officer,” says Hendler.
In his previous job as the vice president of strategic marketing at a major Las Vegas casino, Hendler synced revenue management with marketing data to keep occupancy rates high at the best price the market could bear. He has a particular interest in using analytics to predict what a customer will do next – and adjusting marketing offers to retain loyal customers.
At Las Vegas Sands Corp., he briefly served as both the CMO and interim CIO. “At that time, the partnership between the CMO and the CIO was excellent,” laughed Hendler.
He’s now the chief administrative officer for the Sands, and continues to champion analytics as the lifeblood of any business-to-consumer company.
Hendler took a few moments out of his busy schedule to share some of his advice for data-driven marketing:
- Align the CMO and CIO functions. Customer-centricity isn’t possible without a strong partnership between the CMO and CIO.
- Select the best technology. Technology is the driving force behind delivering a consistent customer experience, more so than marketing gurus and brand savants.
- Hire the talent you need. Understanding how to tweak marketing offers and making sure an offer doesn’t end up costing the company money is impossible without high-quality analytics, carefully managed data and the analysts who can uncover those insights. “You need someone who understands the needs of the business and the technology,’’ says Hendler.
“CMO is not the same job it was even just a few years ago,” says Hendler. “It used to be about brand and communication skills. Now CMOs need to have analytical talent.”