Revolutionize the Marketing World With Technology
Marketing has always been a right brain business for over many decades now. It has thrived on the power of serendipity, driven by the power of some great creative ideas and the like. If marketers wanted to launch a brand, they used the power of mass marketing effectively - reaching out to millions of customers out there watching television, radio & reading newspapers. With the advent of digital revolution through social, mobile and emerging I-o-T devices, the way marketing is being done is undergoing a huge transformation. A new marketing DNA
The way customers engage with marketers has changed. They are in complete control now. The internet has democratized their information search & knowledge about products, helping them know current purchase experiences and also it has made evaluation of products/ brands easier than ever before. The seamless movement of ‘customer purchase paths’across offline and online is creating a massive shift in how marketing needs to change by embracing the power of technology. Marketing needs new agility, shift and marketing-technology (MarTech) tools & platforms are acting as key enablers.
Global Estimates Show That Over US$ 1trillion Is Spent On Marketing Worldwide And Less Than One Percent Is Spent On Technology. It Is Estimated That Over US$ 120 Billion Is Expected To Be Spent On Marketing Technology By Marketers Over The Next 10 Years. The Reasons Are Not Difficult To Fathom.
Reshaping Marketing Thinking by Fusing Technology
• Brand story telling to customer storytelling: Technology platforms have enabled this shift in an unimaginable manner. The democratization of how customers today share their experiences about a brand through a tweet, blog, a post on Facebook is undergoing a tectonic shift. The shaing of customer stories about their experiences can far exceed that of a brand story or messaging and the reach, velocity and scale of these conversations can run
into millions of conversations. Therefore, the big idea is not just the brand’s story but the customer side of the story of their feedback and sharing that happens – when big data combines with big idea the impact is just phenomenal. The analytics and real time insights around this big data is supported by new technology platforms and information needs in companies. Technology platforms like Neustar are being used by marketing companies to measure and track the marketing ROI more effectively.
• One device to multi-device customers:
The number of devices per customer is growing dramatically with various devices/media choices in their control. With 60 percent of customers expected to use two or more devices in day in the next few years, it is increasingly becoming a mobile first world. Be it video, radio, news, content – personalized media devices is becoming all pervasive. Data Management platforms like Adobe can sew up together data from multiple sources – offline, online across devices, channels to understand effectiveness, path-to-purchase journey and customer profiles are now becoming available to CMOs.
• Marketing Automation driven thinking: There is marketing automation software like IBM -UNICA, Oracle Marketing Cloud and Adobe Campaign Management tools which provide marketing automation capability to marketers. Imagine coding into the systems millions of event triggers, customer segment scores and intelligent campaign automation that they can scale-up the marketing thinking and ideas like never before.
• Communicate & forget to Communicate & experience: Technology is being used in building customer journeys across various customer management processes and every aspect of the customer touchpoint is identified, addressed and connected to the subsequent process within the company for better customer experience. It is no more enough for marketing to build a brand image but they need to enable customer experience at different stakeholder points and technology is enabling it through customer journey mapping tools which are helping marketing build scaled-up process and partner with different functions across the enterprise.
• Intuition to data-based approach: Since a lot of data is now becoming available across the enterprise, intuition is being replaced by a lot of data-based approaches. Real time metrics is available through technology and analytics platforms like RJ Metrics, In-app analytics tools to track mobile app behaviour and there are a lot of programmatic buying platforms like Brightroll, Media math that helps marketers track media spends & efficiency.
If we look forward a decade from now, technology-centric marketing will take this centre stage and technology tools for data management, analytics, marketing automation and customer experience management & measurement will be widely used by CMOs across the world. They will be collaborating with the CIO to deliver immersive customer insights and experiences that will drive higher return on marketing investments.
The sharing of customer stories about their experiences can far exceed that of a brand story or messaging and the reach, velocity and scale of these conversations can run into millions of conversations
• One device to multi-device customers:
The number of devices per customer is growing dramatically with various devices/media choices in their control. With 60 percent of customers expected to use two or more devices in day in the next few years, it is increasingly becoming a mobile first world. Be it video, radio, news, content – personalized media devices is becoming all pervasive. Data Management platforms like Adobe can sew up together data from multiple sources – offline, online across devices, channels to understand effectiveness, path-to-purchase journey and customer profiles are now becoming available to CMOs.
• Marketing Automation driven thinking: There is marketing automation software like IBM -UNICA, Oracle Marketing Cloud and Adobe Campaign Management tools which provide marketing automation capability to marketers. Imagine coding into the systems millions of event triggers, customer segment scores and intelligent campaign automation that they can scale-up the marketing thinking and ideas like never before.
• Communicate & forget to Communicate & experience: Technology is being used in building customer journeys across various customer management processes and every aspect of the customer touchpoint is identified, addressed and connected to the subsequent process within the company for better customer experience. It is no more enough for marketing to build a brand image but they need to enable customer experience at different stakeholder points and technology is enabling it through customer journey mapping tools which are helping marketing build scaled-up process and partner with different functions across the enterprise.
• Intuition to data-based approach: Since a lot of data is now becoming available across the enterprise, intuition is being replaced by a lot of data-based approaches. Real time metrics is available through technology and analytics platforms like RJ Metrics, In-app analytics tools to track mobile app behaviour and there are a lot of programmatic buying platforms like Brightroll, Media math that helps marketers track media spends & efficiency.
If we look forward a decade from now, technology-centric marketing will take this centre stage and technology tools for data management, analytics, marketing automation and customer experience management & measurement will be widely used by CMOs across the world. They will be collaborating with the CIO to deliver immersive customer insights and experiences that will drive higher return on marketing investments.
