Brace your executive staff. Your organization could be spending a lot more on marketing automation technology in the next five years, according to Forrester. In its April report, “Marketing Automation Technology Forecast, 2017 to 2023 (Global)” (fee required), Forrester researchers predict marketing automation technology tool spending will reach $25.Continue reading...
With 30 percent of the internet being powered by WordPress, it comes as no surprise to see WordPress users coming from all walks of life. From individuals and small businesses to some of the biggest brands in the world like CNN and the National Football League (NFL).Continue reading...
By Gabrielle Tao,VP, Product Management, Responsys Development, Oracle
As a marketer, you most likely have a list of your “inactive” customers. The definition of inactive customers varies from marketer to marketer. Maybe they’re customers who haven’t purchased in the last year or those who haven’t responded to any marketing messages in the last 180 days. They opted in to receive your marketing messages, but they don’t interact with your brand any more. It is a bit of a vicious cycle – your messages don’t engage them, but without their interactions, you are very limited in what you can do to personalize their marketing messages. This leads to even less likelihood they will engage and higher likelihood that they eventually opt out altogether.
There are two things you can do to further understand your inactive customers. With better understanding, there’s an increased chance that these customers will reengage with your brand.Analyze Past Behavioral Data
This may seem obvious. But the truth is that a lot of marketers don’t do this or don’t do it often enough. These could be two key reasons:
- Engagement data may be scattered among different interaction channels. As an example, if you have an email system that’s separate from the mobile system, or you collect sales transactions in multiple channels differently, your engagement data will be scattered.
- By definition, inactive customers are those who have not had interactions with your brand for quite some time. Many interaction systems do not store interactions data beyond 90 or 180 days. So, to relate your inactive customers with their past behavioral data beyond the last 90 or 180 days, you will need to cross multiple systems.
Of course, it’s possible that analysis of inactive customers can be done with some system integrations. But the ease with which it can be done will determine whether this is a one-time effort or something you can benefit from continuously.
When you have a system to analyze the past behavioral data of your inactive customers, you could potentially answer these questions:
- Who are truly inactive customers across all channels?
- Did they ever interact with your brand after the initial sign-up? If not, you might need to ‘re-acquire’ them.
- When was the last time they interacted with your brand, and on which channel? What were they interested in?
Customers who do not engage with your brand generally fall into these categories:
- They do not engage with any other brand either (deceased, invalid email, etc.).
- They engage with some other brands.
Appending your inactive customer list with third-party data can help you better identify category they belong to. Third-party data (e.g., demographics or behavioral) generally are gathered by third-party data sources and do not include customer interactions with your own channels.
While third-party data marketplaces have existed for decades, marketers have not been able to easily take advantage of them. That’s because most third-party data providers price data based on the list size, which isn’t optimal for specific use cases such as inactive customers.
As a marketer, the third-party attributes you need for your active and inactive customers may be different. For example, if you’re an email marketer, you primarily need to reduce the risk of bounces if continue to email your inactive customers. In this case, a different kind of third-party data attribute is needed than when you need to improve email personalization for your active customers. But because of the way third-party providers price and append data, you will need to split your customer list into active and inactive to get two separate appends, which in turn requires you to have two separate data contracts.
By following a very simple process to append third-party data without all the time and costs for signing data contracts and transferring data back and forth, you can understand your inactive customers more effectively:
- Which of the two above categories have the majority of your inactive customers?
- Will you risk getting more bounces if you send more emails to your inactive customers?
In part two of this article, we will take a look at an easy way to use the new Oracle Responsys CX Audience solution to learn more about your inactive customers.
Download Customer Experience Simplified: Deliver The Experience Your Customers Want to learn how to craft an outstanding experience for your customers.
Marketing automation software helps a marketer automate tasks such as lead management, email marketing, landing page creation, social media listening, message personalization and website visitor tracking.Continue reading...
This article is part of our series on customer experience where we look at how to connect data, intelligence, and experiences. Read the previous article, Great Customer Experiences Rely on Robust Identity Management.
Your ability to deliver personalized customer experiences across multiple channels is increasingly being tested. There is a good reason for this – cross-channel communication is more effective, harder to do, and demanded by your customers. It's a fact: Targeted campaigns deliver much higher conversion rates than batch-and-blast efforts.
Unfortunately, the foundations upon which these experiences are built – data, segmentation, and the insights they generate – are too often poorly designed and even more poorly integrated.
For example, data is often trapped in silos, preventing any linkages and the insights this can produce. The ultimate result is incomplete or poor segmentation and, in turn, disconnected customer experiences.
If either the data or the intelligence applied to it are lacking, the result will be substandard. That is because disconnected data combined with disconnected intelligence produces disconnected experiences.
Breaking down organization data silos is the first step, but it’s not an easy one. This is particularly challenging for organizations dealing with complex or outdated legacy systems. However, success on this front creates a valuable resource for business and one that can underpin targeted marketing campaigns.
Of course, data alone lacks utility. The question for marketers is how to pool the data, and then create useful insights, which can be turned into appropriate messaging for customers and prospects.
Segmentation may sound like marketing 101, but it is a process that still trips up some marketers. Effective segmentation is foundational to any marketing or advertising strategy and spans a range of tactics and meanings.
At a simple level, it is essentially labeling groups of people based on behavior, demographics, marketing tactics, and personas.
The temptation is to segment once, establish your customer labels, and then move on to insights. But effective segmentation is a continuous, iterative process that enriches your data over time. That also means segmentation must remain attached to the data and the technology stack.
The trap many marketers fall into is slicing their customer base into labels without connecting the technology stack. While the labels may be based on sound data insights, failing to tie them back to the data creates problems as it is unclear what characteristics make up the labels.
This is known as aspirational segmentation, and it can create problems when it comes time to execute. For instance, you might find that when you run a campaign to a certain segment you can't actually find that group of people because they are not connected to the technology stack.
Let’s say your target group is ‘fun-seekers.’ Marketers need to know exactly which attributes or data points qualify a prospect as a fun seeker. Do they frequent music festival sites? Listen to a particular genre of music? Or perhaps take advantage of travel promotions? However marketers wish to define it, knowing this allows for more effective targeting, but also fast tracks increasingly automated messaging.
If the funseeker segment isn’t attached to data, it's almost impossible to target, and without data it is also subjective.
And getting it right will give you foundational knowledge of your customers, which can be leveraged in effective data-driven marketing.
If segmentation is data-driven and data attached, then it can be executed upon and it's part of the technology stack. So not only can you campaign, but you can also run reports. Then, you can test and tweak it, and ultimately optimize the campaign.
Segmentation means lots of things. It can be as simple as selecting groups of males or females. More data complex segmentation might involve merging multiple data sources and using data science and machine learning to build a customized segmentation system.
The important thing is segmentation remains attached to data and becomes executable.
Marketers should aim to segment all their data, but it doesn’t have to happen all at once. Start small, segment the data you have access to, and see what works. Expand when you see the results. The most important thing is to get started!
Download our free Busting 5 Common Myths of Marketing Automation to learn how the right segmentation is the start to proper predictive analysis, account-based marketing, lead nurturing, and attribution modeling.
Getting a visitor to add a product to their shopping cart isn’t enough. Statistically, 77 percent of online shopping carts are abandoned before the sale is completed. Savvy marketers don’t count those sales as an immediate loss because they know it is now possible to recoup 10 percent to 30 percent of those sales.
But why are carts abandoned? Are there common practices for re-engaging those customers? How can you improve your current practices and increase sales and ROI?Reasons for Abandonment
Respondents to a recent survey shared their reasons for abandoning a transaction before purchase:
- Shipping and handling costs were too high (54%).
- I was not ready to purchase the product (40%).
- I wanted to compare prices on other sites (38%).
- No free shipping (39%).
- Slow shipping (26%).
- Long checkout process (21%).
- Bad site navigation (16%).
All these sales could have been saved if the companies visited were using re-engagement campaigns, also known as retargeting or remarketing. Remarketing takes several forms, such as internal remarketing ads, external ads, and triggered follow-up email from systems, such as Oracle Eloqua or Oracle Responsys.Why Speed Matters
Typically, data integrations sync every four to 24 hours. Waiting hours to send a cart recovery email is less effective than taking immediate action. Also, when a prospect is on your website, and you can’t leverage the data within your analytics and marketing automation solutions to make a better experience, you’re missing out on an opportunity to connect with your prospect.
In a recent A/B test, two groups were sent identical cart or application recovery emails. One group received the email immediately upon abandonment, while the other was sent 24 hours later. The results were overwhelmingly in favor of immediate action. The email sent right away saw a 46 percent increase in open rates and a 30 percent increase in recovered cart sales.A Better and Faster Way
After five years of working on Adobe Analytics, Eloqua and Responsys integrations (formerly Omniture Genesis) that synced data every 24 hours, Enautics was approached by Oracle to build the official replacement for their slower integrations. The first thing we addressed with the Adobe and Oracle engineering teams was speed.
To solve the problem of cart abandonment, we created SegmentSync, a web application that bi-directionally syncs data between Adobe Analytics and Eloqua or Responsys as often as every 30 minutes.
That means that abandoned cart reminder emails will land in the abandoner inbox within 30 minutes of an incomplete application or shopping cart purchase, greatly increasing the chances of recovering the sale.Let’s Look at the Math
If a B2B online purchase has an average order size of $1,000 and 10 people start a purchase per day, your company could expect at least seven cart abandonments a day (remembering that 77 percent abandonment statistic). That’s about 210 abandoners per month. By emailing them 24 hours after they abandon, you can expect up to 20 percent to be recovered. 210 x 20% = 42 x $1,000 will generate $42,000 in recovered orders.Sending a recovery email to the prospects within 30 minutes could mean saving 30% of the 210 abandoners. This will increase overall sales to $63,000 per month (210 x 30% = 63 x $1,000). You would be generating an additional $21,000 per month by sending the recovery email much faster.
Speed = Sales
It’s clear from the data that the key to recovered sales from cart or application abandonment is speed. Without doubt, prospects in the solution comparison or product consideration stage are more likely to purchase when reminded of their abandonment within 30 minutes.
Click here to learn more about integrating Adobe Analytics and Eloqua or Responsys.
Makers of Modern Marketing: Bence Gazdag
Welcome back to the Makers of Modern Marketing at Oracle! A new blog series dedicated to the drivers, architects, and risk-takers behind marketing at Oracle to give readers a peek into how they are applying our own products to drive innovation and build the future of digital marketing.
This week we got to chat with Bence Gazdag the Senior Director for Global Marketing Demand Center and Technology at Oracle about the many shifts he has witnessed in data-driven methodology and customer-centric marketing over his nearly 19-year stint at Oracle.
Since coming to Oracle in 1999, Gazdag has had the unique opportunity to watch the company grow and evolve from the inside. Today, he oversees a team of 170 employees running the Global Marketing Demand Center, a shared services function that provides support globally to marketers facilitating the seamless execution of campaigns. This team spans the globe—from India to Argentina to Bozeman, Montana—covering over 40,000 execution pieces per year.
In addition, Gazdag’s team runs technology and data, customer tools and development, as well as, innovation, which means they are charged with building their own tools to power their products and systems and that they run their own databases, including the Customer Experience Database. To say Bence Gazdag is a busy man would be an understatement, but after close to two decades, Oracle’s ever-changing environment has a way of always keeping him fascinated.
“[Your customer] shouldn’t feel like they’re talking to a different person every time they pick up the phone.”Customer Data Quality Board
We touched on the importance of quality data over sheer quantity with Patrick McGavock last time, now with Gazdag we are able to delve into who determines the standard for data quality.
Around 2005, Gazdag saw an opportunity for Oracle to gain a greater, more consistent understanding of how data is categorized across the company for improved business alignment. His solution? The Customer Data Quality Governance Board, which set up the standard against which data is ranked at Oracle. In his words it is “a cross-functional governance board at Oracle that has owners from finance, support, sales, marketing—basically, all LOB's come together to agree on common data quality standards, common data definitions.” As the Founder and Chair of the CDQ governance board, Gazdag facilitated the creation and maintenance of this “master” record of rules and standards for different data attributes. Though he has stepped down from his role as Chair, Gazdag remains an active member and is still heavily involved in what the future of data quality will look like.
Gazdag guides us to the larger view of this endeavor: personalization. Providing an outstanding customer experience hinges on a deep understanding of customer behavior, in order to supply content that is timely, relevant and attractive:
“People have a shorter attention span and when they are engaging with content, then they want to engage with a lot of content and they want to binge on the content right there in the moment vs waiting on delivery the next piece.”
It is no longer enough to just get prospects to click on an ad or email, they need to be given the option to engage immediately, then once they are customers they must be treated respectfully as an individual. “You have to merge your customer support, your sales, your marketing interactions, and engagement points so that you can have a confluent view and experience...[your customer] shouldn’t feel like they’re talking to a different person every time they pick up the phone,” says Gazdag, tying it back to the business alignment he envisioned when he founded the CDQ board.
Predictive is The Future
Shortly after joining Oracle, Gazdag got his first taste of Oracle’s propensity to embrace new tech, “Our CMO back then said, basically from one day to another, ‘We’re going to stop doing all direct mail and traditional marketing and advertising and we’re going to switch over to this thing called e-mail marketing.’” And with that, they switched in a matter of weeks.
Now, with a keen eye on the horizon, Gazdag is excited about the possibilities AI, machine learning and predictive intelligence hold for the future of modern marketing. The latest step in Oracle’s journey is using machine learning for lead scoring purposes, leveraging marketing and sales data to optimize lead scoring for conversion. “That’s been proving very promising results,” says Gazdag, his sights already set on scaling this and other burgeoning platforms.
Gazdag has also been monitoring the progression of predictive intelligence, which activates both external and internal data sources. There are three key components in effective predictive intelligence platforms, according to Gazdag: fit, intent and engagement. In short, they gather and analyze data to determine key indicators for each point, then overlay that data to find out exactly when and which products to approach a prospect with. “We’re seeing two to four times increase in win rates.” As both account and individual digital footprints swell in size, Oracle steps up with computing power, keeping in mind data privacy restrictions that are under constant re-write with each change in the market.
These concepts can put some marketers on edge, though, will there be a point when machines can do it all and us marketers are obsolete? Gazdag isn’t worried, “Machine learning is a tool to help you digest and understand vast amounts of data and provide you with recommendations and decision points that can empower you as a marketer, to be way more nimble and way smarter with your marketing strategies. It's a tool that you need to be able to use.” It behooves us marketers to strive to understand all the different kinds of tools out there now, while the technology is in its infancy, to maximize our own capabilities.
“You don't have to be a PHD data-driven scientist to be a good marketer who's using data or machine learning…but you need to understand the concepts and how to leverage it as a power tool.”A Marketer’s Tool Kit
It takes a versatile, ambitious and open-minded person to survive with one company through its many ebbs and flows (or downright tidal wave shifts), Gazdag has done it with marked success. He is a strong proponent of agile marketing, in fact he was featured in the book The Agile Marketer, which details a style of working that emphasizes flexibility and an openness to change within projects and plans. Gazdag suggests having a constant feedback loop with your customer to understand what they want and ensure that you are delivering on that, then adjusting regularly to provide the best results and experience.
Gazdag encourages marketers in this data-driven world to broaden their scopes and gain at least a general grasp of data analytics and statistics, “You don't have to be PHD data driven scientist to be a good marketer who's using data or machine learning…but you need to understand the concepts and how to leverage it as a power tool.” It is essential both for understanding how best to leverage data in unique situations, but also how best to ensure that we are using customer data respectfully.
On a personal level, the freedom to function in this way is one of the main things that has kept Gazdag with Oracle for so long. It also helps that the technology stack he has access to “is a modern technology marketer’s dream.” The constant change in technology allows him to be forever learning and growing and innovating.
Besides these, perhaps, more obvious up sides, Gazdag sites another reason he has stayed put: the people. Recalling some of his first meetings back in 1999, “eight out of 10 people would be from a different country, had a different accent. They were all incredibly smart. That was just so impressive to me at the time, still is, that you've got some of the best and the brightest people from all over the world at the company that you can work with on a daily basis. That's pretty amazing.”
Are you ready to get the most out of your data but don't have a data management strategy? Download Maximize Your Marketing to learn how to use the right data at the right time to drive real results.
Celebrating a Magical Night Honoring Old and New Marketing and Commerce Legends
Last week at Modern Customer Experience, we celebrated our 12th Annual Markie Awards. This year marked a significant turn in our awards ceremony, as we welcomed our Oracle Commerce customers to participate in the Markie Awards submissions and celebrate the successes of their peers across both commerce and marketing.
It was a night to remember. Magician and performer Nigel Mead hosted the evening with fun and entertaining magical tricks and even turned our audience members into legendary magicians! Past Markie Award winners were also brought on stage to present awards along with Oracle executives.
And now…congratulations to our 2018 Markie Award winners:
Account Based Marketing Team of the Year
These teams have embraced an end-to-end view across the entire buyer journey and across all channels. They know their buyer profile, have created targeted campaigns that drive engagement and ROI and have created visibility into which accounts have the greatest propensity to buy and have implemented Account-Based Marketing (ABM) to target the right individuals and accounts to deliver personally relevant and well-timed messaging.
Best B2B Commerce Experience
These data-driven Modern Commerce or Marketing professionals have proven ways to deliver personalized buying experiences for every B2B customer. They have provided their customers with relevant content, merchandising, personalized search, customized marketing programs, and tailored websites across all channels. At the same time, they enable self-service with custom catalogs, custom pricing and account-specific experiences.
Best B2C Commerce Experience
These data-driven Modern Commerce or Marketing professionals are delivering personalized buying experiences for every B2C customer, connecting the online experience to the in-store experience by exposing inventory availability and offering click and collect. This award recognizes the supremely enlightened organization that truly gets the power of personally engaging consistently delightful, and seamlessly integrated experiences where the customer runs the show.
Best Digital Marketing Ecosystem
These organizations are taking advantage of digital marketing integration to enhance processes or improve analytics. They have created an integrated ecosystem with CRM, third-party cloud apps, or other applications to automate, streamline, and enhance your marketing efforts and are often using APIs in interesting ways.
Best Email Marketing Campaign
Email can be extraordinary. In fact, there are some email communications that are so well written, so masterfully designed, that it's only a question of when people will respond, not if. Achieving extraordinary response rates isn't luck – it's the result of great targeting, content, personalization and timing.
Best Emerging Company Marketing Campaign
Doing more with less? These fast-growing, emerging companies of $100M in revenue or less have lean, mean, marketing teams that have executed masterful marketing campaigns using marketing automation to do the work of ten people.
Best Integrated Mobile Experience
For these organizations, mobile is the platform of choice for the majority of their ideal customers. As such they have created personalized experiences with messages and promotions optimized for mobile.
Best International Campaign
The Best International Campaign award goes to a company with a successful marketing campaign outside the United States - in multiple countries in multiple languages, modification of a program originally created in the U.S. and re-launched in another country, or any variation in between.
Best Lead Management Program
Winners in this category have a sophisticated lead management program that delivered measurable results. They demonstrate the use of lead scoring and deliver compelling results. In this award, people, process and technology all come into play.
Best Omni-Channel Marketing Program
Winners in this category create personalized experiences with messages and promotions across web, social, mobile, email, display, or other digital channels to attract or retain their ideal customers.
Best Overall Customer Experience
Every company says they are customer focused. But few actually deliver. This winner has created a customer retention or loyalty program that has successfully transformed their customers into fiercely loyal brand advocates. They have shifted their culture from consumer transactions to customer relationships to drive loyalty.
Best Social Campaign
In this category, Social Media is more than just a buzz word. Winners have found creative ways to utilize both new and traditional social mediums in order to build sustained dialogs with customers and prospects, and have seized the opportunities available through social media to generate proven results.
Best Testing and Optimization
These Marketers have optimized the online customer experience with testing, insights, and personalization. They have maximized revenue potential across web, mobile, social, apps, and other digital channels as a result and have taken the leap to multivariate sophistication. Nominees for this award have incorporated testing and optimization of their campaigns and programs to mitigate risk, drive better decisions, increase revenue, and improve the customer experience.
Best Use of Data
The data-driven Modern Marketer targets and engages their ideal audience for specific business initiatives These finalists are successfully using data to target, personalize, measure and win. They are using data in innovative and strategic ways, and have seen their efforts pay off with improved customer experiences and ROI.
Best Use of Insights and ROI
These Marketers are interpreting data for actionable recommendations that improve business results and customer experience. This award recognizes an organization that has moved beyond reporting (old methods of organizing data into informational summaries to monitor performance) towards analysis (new data and meaningful insights that improve performance).
Modern Marketing Leader of the Year
Just as great people are the foundation for successful businesses, innovators are often the driving force behind exceptional marketing. These nominees are the passionate senior people that push their teams to succeed, lead decisive change, set the vision for the entire marketing organization and introduce innovative concepts.
Most Creative Marketing Campaign
Sometimes all of the pieces align to create a fantastic marketing campaign – the perfect idea, the right target, the memorable artwork, the personalized follow-up, and of course, the measurable results.
Enabling a high-performance marketing culture isn’t always easy. For most organizations, it can take time to master the intricate blend of messaging, segmentation, data orchestration, organizational alignment and other disciplines. The Rapid Transformation award honors those who have successfully implemented any Oracle Marketing Cloud technology in the past year, for their superb planning, execution, and results.
People's Choice - Best Video
This award honors the best video submission with a people’s choice award voted on by your peers. Winners in this category showed exceptional videos enhanced by creativity, humor or human-interest touches.
Congratulations to all our finalists, winners and thank you to everyone who submitted. Here is a highlight video capturing the magical night:
We look forward to seeing you next year!
Honoring excellence in marketing since 2007, Oracle’s Markie Award is a recognized global pillar of success. Companies of all sizes share their most innovative and successful campaigns in Omni-Channel Marketing, Content Marketing, Social Marketing, Data Management & Advertising, Web Optimization, Marketing Innovation and Analytics.
With over 600 entries each year, becoming a Markie finalist or winner isn’t easy. The Markie Awards recognize only the most innovative and successful marketing campaigns. Submissions take time and focus to prepare and competition is fierce. Each of the past 10 years, at least one of our clients consistently advance to the finals of the Markie Awards, and many have gone on to win.
How do these award-winning companies design their Markie caliber projects? Here is the four step process we use to help our clients architect Markie award winning projects.1. Defining Challenging Goals
First, we spend time understanding exactly what our clients are striving for. We do this with the mutual understanding that a “challenger mindset” must be used to allow the team to come up with new innovations.
We have found that in order to become a finalist and a winner, you have to go over and beyond the basics to be considered innovative and to get the judge’s attention. Basic or easy-to-achieve goals will not accomplish that. Setting a measurable, challenging goal is key to marketing success, which leads to an innovative Markie submission.
Some of the challenging goals we’ve used recently are:
Increasing mobile engagement by 5x
Increasing new account acquisition by 50%
Reducing unknown to known visitor ratios 500%
Reducing customer effort
Our Markie-winning client campaigns all start with a specific challenging goal that’s well beyond a simple sales increase, which can be clearly documented as genuinely innovative.2. Defining Key Data Points
Next, we help our clients define the data points needed to support the project and help achieve the goals established in step 1.
We define the key data points. Then we ask, are these data points accessible within Eloqua or Responsys? Or do we need to conduct an integration within the customer’s TechStack to sync the data? In order to achieve challenging goals, we have found the need to sync data with the web analytics platform and Eloqua or Responsys. Doing so, properly, will open opportunities to build Markie caliber campaigns much easier.
For example, we used our insights with Oracle and Adobe to share a data point that’s in Adobe but wasn’t in Eloqua. This now allows our customers to support a challenging goal of real-time, 1-to-1 website personalization that compliments an Eloqua email campaign.
Knowing what data is available isn’t enough. Knowing how it supports the project is key.3. Experience Making - Knock Their Socks Off!
Now that the client has key data points to support their goals, the next step we use is a concept called “Experience Making”.
Experience Making is the ability to design customer experiences in a predictable manner by leveraging a harmonious integration between Oracle Marketing Cloud, the web analytics solution, and the tag manager. We have seen customer experiences go from needs improvement to exceptional. Having the right data gives clients the ability to craft better experiences and becoming Experience Makers.
Our approach is to help the client put themselves in the prospect or customer’s shoes and look for Deal Breakers.
Deal Breakers are experiences that slow down or kill engagement and ultimately, deals. This is an essential step in effective Experience Making. Markie finalist and winners seek to build campaigns that are making things easier for the prospect or customer.4. Measuring Impact - Before and After
Documenting the results for a Markie submission is key. One example of this is how we helped a client reduce cart abandonment, increase campaign performance clarity and mobile engagement.
We take a snapshot of the baselines of how things performed before the project. We include metrics such as, opens, clicks, emails sent, downloads, video engagement, webinar engagement, leads, orders, average order size, KPI conversion rates, etc. This is so we can clearly show, in the Markie submission, what impact the new project has had by doing a Before and After side-by-side comparison.
Our successful Markie submissions have come from companies that set challenging goals, identify key data points, become experience makers, and clearly measure the impact of their efforts. Follow this proven model and maybe you too will win a Markie. Good luck!
Dion Jones, is VP, Consulting & Multi-Solution Architect at Enautics, and knows exactly what it takes. Enautics is a specialist integration partner with Oracle Marketing Cloud and Adobe Experience Cloud.
They have developed a suite of solutions to harness and expand the “Experience Maker” capability of Oracle and Adobe Marketing Cloud. Along with their products, Enautics provides consulting solutions for marketers striving for innovative success.
The Markie Awards will take place on Tuesday April 10th at the Modern Customer Experience event. Make sure to check out the complete list of finalists for this year’s Markie Awards on the Markie website and also on this blog. Still have not registered for ModernCX? There is still time. Register for Modern Customer Experience 2018 here.
Technology is transforming marketing faster than ever before. Add AI to the mix and marketers experience another layer of complexity. But according to the latest research, marketers who successfully adopt and adapt artificial intelligence into their digital marketing strategy will most certainly rise above the rest. eMarketer recently published a report, Artificial Intelligence for Marketers in 2018: Finding Value Beyond the Hype. Their research highlights benefits of brands who have already implemented AI.
But before looking at the data, let's look at what falls under the umbrella of artificial intelligence. Consulting firm McKinsey & Company defines AI under eight categories:
- Natural Language Processing (NLP)
- Natural Language Generation (NLG)
- Speech Recognition
- Machine Learning
- Decision Management
- Virtual Agents (chatbots, etc.)
- Robotics Process Automation
- Computer Vision
So what kind of advantages have organizations experienced since implementing AI? eMarketer reports:
The overall benefits are encouraging. To dive even further into real-world applications of AI, eMarketer found that retail marketers are using this technology to craft a better customer experience across the board.
While this data is promising for organizations to see, the question some grapple with is, where do we start? eMarketer shares some solid advice to those looking to incorporate AI into their business efforts.
I think the best advice the research revealed is to forget the "hype" and really understand what AI can do for your brand. Allen Nance, Global CMO of Emarsys, suggests asking questions like:
- What data sets can we use to inform AI systems?
- Who will develop the algorithm?
- Will we have on-staff data scientists?
- Show me how it will change my role and my organization?
While AI is in a growth stage, it is clear to see it will be one of the most important investments marketers can make for the future. And as you can see from the data, many have already started down that path. Is your organization ready?
For practical tips on how to bring AI into your marketing, don't miss Adaptive Intelligence: Practical Tips for Bringing AI into Your Marketing from David Gutelius, CEO of Motiva AI, a machine learning company dedicated to adaptive customer experience and an Oracle partner.