Q1 2020 Texas CEO Magazine

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SAVE THE DATE!October 3, 2020 • 1 pmCome shoot clay pigeons with Texas Rangers at a private club in Austin, Texas.This event will benefit the Texas Ranger Hall of Fame and Museum in Waco, Texas.To put your name on the waitlist for tickets, or to inquire about sponsorships,email us at info@texasceomagazine.com.
WHAT’S MY CMOTALKING ABOUT?Tony StreeterAs head of the entire organization, the CEO is expected to have a workingknowledge of each functional area of the business. But as technologyevolves at dizzying speeds, it’s not always easy to keep up. You may havethought, for example, that you understood marketing nomenclature, butnow noticed that it’s getting harder to differentiate between a conversationwith your CMO and your CIO. Let’s take a brief tour of some of the words andphrases your CMO is probably using these days—so you canhave an informed conversation about how the marketingdepartment fits into the strategic plan of your organization.Martech (1) is the buzzword created to describe the combinationof marketing activities with technology. Although traditionalmethods of advertising and marketing (billboards, ads, radio,TV, sponsorships, direct mail, etc.) are still effective, the digitalboom has paved the way for the development of a number ofsophisticated digital tools that provide a depth of insight for thesavvy marketer. Mass marketing via standard approaches hasnow been surpassed by digital marketing practices that allow forhighly targeted campaigns and detailed effectiveness reporting.Integrating data analytics (2) with your internal customer data—typically held in a customer relationship management (CRM)(3)database—and third-party data now gives you the ability to(1) get a profile of your customer (what they buy, when theybuy, how much they are willing to pay) and (2) understandwho is buying (demographics such as age, gender, income,and education level); where they are buying from (geolocation),and what motivated them to buy (discount, incentive,bundle, online content, testimonials/endorsements, etc.).In the past, marketers relied on laborious multivariatetesting (MVT) (4) to gauge prospective customers’ reactionsto different offers, different content, and so on. Now, withprescriptive analytics (5) , market testing has largely beenautomated. Prescriptive analytics uses both descriptiveanalytics (data about the past) and predictive analytics(modeling and forecasting of what may happen in the future)to arrive at recommended courses of action, especiallywhen combined with sophisticated propensity models (6) .Machine learning (ML) (7) can also be used to automatemultivariate testing by first performing a cluster analysis thatgroups variables before placing them into a multinomial logisticregression—essentially, a method of predicting probable outcomesgiven a certain set of variables. So instead of waiting weeks ormonths to see what actual customers do, the proper data analyticstechniques can tell you what they are most likely to do in minutesor seconds. Of course, the accuracy of the recommendationsdepends heavily on the accuracy of your internal data andthe stringency of your data governance (8) practices.Here are some other digital tools your CMO may be talking about:IP Address Hyper-TargetingHere’s a neat little development that came out around the 2016election: IP address hyper-targeting. Every household that hasan Internet connection has a unique IP address. The digitaladvertising tactic known as IP address hyper-targeting deliverspersonalized content to a website user’s mobile device or desktopbased upon its physical location. IP targeting is better thantraditional geo-fencing (9) in that it targets specific households orbusinesses. So, for example, a political message can be directedTexasCEOMagazine.com51
Page 1 and 2: Q1 2020THE BUSINESS OFTEXASSPORTSTI
Page 3 and 4: Letter from theOWNERGreat CEOs crea
Page 5 and 6: INSIDE Departments6 [MANAGEMENT]OUT
Page 7 and 8: CEOs; as you can see, the outsiders
Page 9 and 10: FeatureDid you know when you were s
Page 11 and 12: Featureimplemented. People told me,
Page 13 and 14: P O D C A S TEach week on Ask a CEO
Page 16 and 17: money.” They went on to share wit
Page 18 and 19: The Eyes18 Texas CEO Magazine Q1 20
Page 20 and 21: THERE’S ASAYING IN OURWEIGHT ROOM
Page 22 and 23: WHAT CEOSCan Learn fromEXCEPTIONALC
Page 24 and 25: STARTUP SUCCESS:A STARTUP FUNDRAISI
Page 26 and 27: out how much to raise in order to a
Page 28 and 29: 7WITHFeatureMark CubanQuick Questio
Page 30 and 31: Want to WorkfromCOWBOYS HQ?HERE’S
Page 32 and 33: Our approach, starting with JerrySr
Page 34 and 35: invested into The Star development,
Page 36 and 37: environment, still allows a company
Page 38 and 39: 5 ThingsTO CONSIDER BEFORE TAKING A
Page 40 and 41: HOW BUSINESSES EXPERIENCE TEXASATTE
Page 42 and 43: The Characteristics of a Well-Desig
Page 44 and 45: Who gave you the heads-up on the un
Page 46 and 47: • Use reflection questions.o Refl
Page 48 and 49: Three Actionable Strategiesfor Buil
Page 52 and 53: toward a target audience’s IP add
Page 54 and 55: Austin FC — In 2021, Major League
Page 56 and 57: LEGISLATIVEFOOTBALL,TEXAS-STYLECrai
Page 58 and 59: The Legislature also authorized a r
Page 60: BUILDINGA BRIGHTER FUTUREFOR CENTRA
Page 63 and 64: million for a six-year randomized s
Page 65 and 66: WHAT HASANDY RODDICK LEARNEDSINCE S
Page 67 and 68: ON SALENOW!Available wherever books
Page 69 and 70: THE ESPORTSINDUSTRY IS VALUEDAT ABO
Page 71 and 72: The thing I find with older folks w
Page 73 and 74: won’t maximize the storage space.
Page 75 and 76: He pulls out his badge and goes,
Page 77 and 78: CATCHINGTHE PERFECT PASSInnovation
Page 79 and 80: the thousand other things we could
Page 82 and 83: 2. It’s not just about fitness.Pr
Page 84 and 85: [PERFORMANCE]MARKETING RESEARCHUNIT
Page 86 and 87: ListenIn his recent book, Shut Up a
Page 88 and 89: You’ve realized your dream of own
Page 90 and 91: [LEADERSHIP]MISSION, PRIDE, PEOPLE3
Page 92 and 93: cannot profess a mission and expect
Page 94 and 95: BRINGING ARENEGADE SPIRITTO XFL 2.0
Page 96 and 97: THE BUSINESS OFCOLLEGE ATHLETICSA C
Page 98: At UTSA, their AD is in hersecond y

Q1 2020 Texas CEO Magazine

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