webinar Archives - Smarter Commerce
Marketers today are facing unprecedented levels of change in the way they do business. Customers have changed the ways they shop, connect with each other, and interact with the companies they do business with. However, dealing with change can be …
It’s a fact: data-driven marketing, sales and service strategies – and the tools that enable this – are now being fully leveraged for success at leading companies. Why is this happening now? Because the tools exist to do this in …
Less than a third of companies responding to IBM’s 2012 Marketing Survey are using their online data to target or syndicate one-to-one offers and ad messages. The ones that do, for example, syndicate display advertising using online data outpace their competitors financially.
This is one of the many pieces of insight that will be reviewed as part of the upcoming webinar, Why Leading Marketers Outperform, including also practical recommendations for what to do about it.
Eric Peterson of Web Analytics Demystified said it best: “Online, no one can hear you scream.” Last week, Eric made this point abundantly clear during our webinar on Avoiding Blind Spots in Digital Analytics. His point was compelling and illustrative, as it spoke to the struggles digital marketers encounter with gaining total clarity on their customers’ online experiences.
We’ve moved beyond theory in this space to the practical application of solutions that help marketers answer both the “what” and the “why” of customer experience. By combining digital analytics with customer experience management, voice of the customer, and testing and targeting, we have formed the core digital optimization ecosystem through which marketers can measure customer experience and optimize accordingly.
If you weren’t able to join us for our webcast, On Cloud, on Premise or a Hybrid Solution? IBM’s B2B and MFT Architects Weigh In, here are some of the highlights:
- The analysis challenge: For IT departments, saddled with
IBM recently published its much-anticipated annual report, The State of Marketing 2012: IBM’s Global Survey of Marketers. As I read through the findings, it became clear that managing complexity is top of mind of many marketers, from the CMO to front-line staff.
Consider: 58 percent of the 362 respondents reported a “significant challenge” in their ability to measure marketing effectiveness (a direct byproduct of processes and systems siloed across channels). An equal 58 percent characterized multiple systems and data sources as another significant challenge, followed by managing complex business rules (51 percent).
In a separate question asking marketers to rank their top challenges, the top six responses were the 1) growth of channels and devices 2) customer collaboration and influence 3) financial constraints 4) ROI accountability 5) regulatory considerations and 6) the ongoing data explosion.
Unlike a headcold, complexity won’t simply disappear on its own. In fact, it stands only to worsen as cross-channel customer activity continues to grow and data volumes mount. The inevitable result is uncoordinated campaigns, subpar customer engagement, needless costs and delays and lackluster ROI.
To address how marketers can master complexity in our fast-changing world of the Generation C connected customer, we’ve invited two distinguished users of IBM marketing technology to join us for a Thursday, July 12, webinar, “Better than the Rest: How Innovative Marketers Deliver Results.”
Once upon a time as small children, we were all schooled in the 3 Rs of reading, writing and arithmetic. Now as marketers challenged to effectively deliver messages across a range of mediums, it’s time to think in terms of the 4 Rs of marketing—relevance, recency, richness and response.
The goal is for marketers to connect with customers, the point of intersection being delivery—the effective delivery of the right message to the right customer through the right channel at the right time. It’s a simple premise, but fraught with challenges and pitfalls. Without the right processes and systems in place, your investments in customer data collection and analysis are likely to generate poor returns.
The 4 Rs, a set of characteristics and considerations to optimize delivery, were recently outlined by Charlie Cole, an online marketing and ecommerce veteran who until recently served as VP of Online Marketing at IBM customer Lucky Brand Jeans before joining wholesaler Schiff Nutrition to launch a direct-to-consumer ecommerce site.
Charlie was a special guest at an IBM Enterprise Marketing Management (EMM) webinar called “Right on Target: Delivering Relevant Messages Everywhere,” and shared a number of thought-provoking insights that can be applied across email, display ad, paid search, mobile and other campaigns.
I’m a big fan of the “We ♥ Logistics” TV ads by UPS. If I’m browsing the web with a television on in the background and that commercial comes on, I’ll often turn my attention to the TV and enjoy the upbeat music, the colorful imagery and the fetching lyrics:
“A continuous link that is always in sync, that’s logistics… when technology knows right where everything goes, that’s logistics…”
And I think to myself, “Suppose marketing could run as effectively as a world-class logistics company like UPS, FedEx or DHL?”
Logistics and marketing have a lot in common. Both need to execute on a global scale of staggering complexity and millions of customers. Logistics excels at delivery. Marketing does not.
Many marketing organizations have anything but the proverbial “continuous link that is always in sync”—they have disconnected processes across multiple channels and fragmented views of customers and the marketing lifecycle. Technology can’t know where everything goes when marketers use siloed systems for email, paid search, mobile marketing and other customer interactions.
We hear a common refrain from companies at the leading edge of cross-channel marketing—they’re running far more campaigns than they did in the past. OCBC Bank, one of the largest banks in Singapore, runs 1,200 campaigns a year, 10 times more than in the past. Telefonica | Vivo logged a similar double-digit increase, up to 200 campaigns a month.
What’s important here is that these increasing campaign volumes are based on a deep understanding of customer behavior and channel preference. As a simple example, a company might have run a single campaign targeting 1,000 customers via email. Now, its marketers run 10 campaigns, each targeting 100 customers, with interactions personalized to customer behavior and channel preference, be it email, mobile devices, direct mail, web, inbound interactions and more.
Such granular marketing is highly effective, and it depends on collecting customer data, analyzing it and deciding on the best offer or message, the best time for delivery and the best channel. The decision part is where many marketers get stuck. In fact, marketers surveyed by IBM for our annual “The State of Marketing” report ranked “turning data into actions”—making the optimal marketing decisions—as the top issue facing their organizations.
The decision dilemma is complicated in our new era of the Generation C connected customer. The growth of channels and consumer choices has multiplied possibilities for marketing interaction. With a large customer base, marketers face literally billions of possibilities for interaction across various customer slices—and the inevitability of subpar results if they resort to guesswork.
To take a look at decisioning challenges and solutions for marketers, we’re hosting a Tuesday, May 15 webinar, “How to Stop Marketing and Start Interacting with Customers.” We’ll hear first-hand from Tanner Mueller, CRM marketing manager at First Tennessee Bank, on how his team has optimized its marketing decisions for more personalized interactions and realized a 600 percent return on its investment.
I read with interest a recent report in The Economist about how major retailers are adapting to changing customer behavior. Household-name companies like Macy’s and Walmart are beginning to embrace “omnichannel” commerce, by which consumers fluidly browse, engage and purchase across a variety of channels, including in-store, online, smartphones and tablets, and social media.
The Economist article underscored what the IBM Smarter Commerce team has been evangelizing—the rise of the Generation C connected customer is the #1 force driving a need for business adaptation. What struck me as conspicuously absent from the report was any mention of the “secret sauce” that can make or break omnichannel commerce—customer data.
Omnichannel commerce is a double-edged sword not just for retailers, but companies in financial services, travel, media and other industries. On one hand, it gives marketers more opportunities to engage with customers. On the other hand, the omnichannel phenomenon introduces new complexity. It becomes more difficult to understand your customers when they research a product online, check it out in a store, read social media reviews and then buy through a smartphone.
Customers leave data trails through every interaction with your brand. That data can drive marketing personalized to customer behavior and interests. The trick is collecting and consolidating that information into a single customer view—a venerable ideal that is more important than ever in our age of the connected customer.
To take a hard look at the customer data challenge, we’ve scheduled an April 26 webinar, “Listen Up: How to Gather Insight from Every Interaction” with John Lovett, senior partner at the consulting firm Web Analytics Demystified. John will share insights into why it’s critical for marketers to listen to customers through data across every channel.