Posts tagged "Data"

Power to the Marketer!

Srihari Palangala, Senior Marketing Manager Digital Media, Adobe India – LinkedIn

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Every single opportunity to listen to the customer and market delivers more power to the marketer.  The digital era provides a choice of open and direct customer listening possibilities. Because of this, the next decade is an absolutely great time to be a marketer. Digital avenues and technology will allow marketers to play increasing strategic roles – helping script moves that have manifold impact on the business. More importantly, data and technology make it easier for marketers to move away from a purely tactical view and engagement – not to imply that tactical is not just as important by any means!

Here are three specific areas where I see technology and digital outreach providing more power to the marketer:

1)      Marketers can scale volumes of business data more easily - If you are reaching consumers with your product or service, then you can target (create awareness), deliver the right message (drive interest) and fulfill consumer purchase transactions online. Marketers in this case, such as in the FMCG world, play a key role in driving business – while firmly in the driver’s seat.

On the other hand, if you are marketing to businesses (SMBs or Enterprises), then you can drive inbound interest from influencers/decision makers. When coupled with good CRM systems, digital marketing can help you monitor conversion and sales funnels better. As you understand your conversion funnel you can have funnel metrics-driven marketing programs. I’ve talked about elements of digital marketing in this slide deck.

2)      Marketers can focus on profitable business customers and on margin contribution – With digital outreach you can closely measure and constantly drive down the customer acquisition costs (variable costs). As you acquire customers, you can also track and measure the ‘quality’ of the customer and constantly target to pursue profitable (and returning) customers. Finally you can observe and track life-time value of customers and run targeted activities to keep customer engagement and retention high.

3)      Marketers can embrace the Internet to scale distribution and reach – Search, social and mobile has transformed the Internet experience for everyone. The number of people a marketer can potentially reach with technology today is astounding — about 40% of the world population has access to the Internet: ~10% through fixed broadband and ~30% through mobile broadband. And people are spending an increasing amount of time online. Digital allows us to quickly determine which marketing channels are working, and if they are not then we can fail fast and switch to more effective approaches. And as we see pilot campaigns delivering results, they can be potentially scaled up. Technology also allows us to look at effective ways to bring offline and online together on marketing campaigns.

The above said, from a practitioner perspective there is a lot of data to handle, digest and rationalize to be successful. This can be a daunting task – but nobody said that coming to terms with the new “marketer power” was going to be easy!

APAC Digital Marketing Performance Dashboard 2013: Content & Data

In this episode of the APAC Digital Marketing Performance Dashboard 2013 video series, Paul Robson from Adobe and Liz Miller from the CMO Council discuss the the importance of content and data for marketers.

Interested to find out more about APAC Digital Marketing Performance Dashboard 2013? Check out the links below:

Download the complimentary executive summary

View the Digital Dashboard Infographic

Follow the latest on twitter via #APDash

Digital Distress: What Keeps Marketers Up at Night?

Paula Parkes, Head of Marketing, Adobe Marketing Cloud, APAC – LinkedIn @Keywebird

Adobe has launched a provocative new marketing campaign based on a recent study dubbed Digital Distress: What Keeps Marketers Up at Night? The research reveals insights on how 1,000 U.S. marketers feel they’re doing – as individuals, in their companies and relative to their industry peers.

The new marketing campaign and research really puts the spotlight on how rapidly our marketing profession has changed over the past 2 years as we’ve made the shift to a digital marketing approach. It’s not just you: marketers in the US are also feeling the pressure like never before as they work hard to show return on investment from their marketing spend. In spite of the genuine desire to measure and prove effectiveness, the research reflects that marketers feel doubtful about their skills and effectiveness, and about their ability to measure impact.

A few of my favorite stats:

  • Only 40% of marketers think their company’s marketing is effective
  • 60% of marketers expect their companies will invest more in digital marketing technology this year.
  • 76% of marketers believe measurement is important yet only 29% believe they are doing it well.
  • 66% of marketers feel digital is critical to their company’s success and yet less than half feel highly proficient in digital marketing. Worse, only 9% of marketers feel they know their marketing is working.

Check out the full study and infographic as well as the animated infographic with more details on the research.

Here’s our new advertisement, for a tongue-in-cheek look at what’s causing ‘digital distress’ to marketers … enjoy!

So marketers: we’d love to hear what you think about the research – does this capture your experience here in Asia Pacific?

Adobe Digital Marketing Symposium 2013 – Sydney

Suzie Brady, Communications Manager, Adobe ANZ, LinkedIn

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The mood was high in the morning as around 1,000 marketers and digital content managers from across Australia, and around the region, poured into the Hilton in Sydney for the Adobe Digital Marketing Symposium 2013.

The draw card was Adobe’s Senior Vice President and General Manager of Digital Marketing Brad Rencher and his Symposium keynote – The Last Millisecond.

Brad’s keynote focused on his theory that digital moments are built in milliseconds and it’s no longer good enough for marketers to just focus on one avenue – like their company’s website.  Brad says marketers must engage everywhere – wherever their customers are, on whatever device they’re using.

With so much data available, marketers need to be able to use it effectively to predict what is going to happen next. Using the data, they need to reliably predict what the next customer touch will be. Brad says when marketers connect these dots, they will radically change their businesses.

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Brad’s keynote was inspiring and delegates were enthralled as they realized the opportunities digital marketing presents, and the challenges they need to overcome. Brad’s address was a great way to start the Sydney Symposium. After the keynote followed numerous forward-thinking companies that are already using digital marketing to drive more relevant advertising to their customers and improve business results.

One of such companies is US Bank, where Rakesh Nambiar took to the stage talking about driving successful uptake through digital transformation. Rakesh explained how customer are now demanding personalised experiences and willing to provide personal information to get it. Did you know that 69% of consumers would provide personal info for more tailored financial advice?

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The digital bank is the future as interactions online is growing. Another fun fact – 22% of Gen Y customers visited a bank when it was closed. Digital banking is 24/7, some people might have never even gone to a bank in person as almost everything can now be done online.   Of course the digital experience doesn’t just end online, offline interaction is just as important and there needs to be a seamless relationship between the two.

All in all, a great start to the Adobe Digital Marketing Symposium. Look out for more sneaks at what went on in the event coming up, including videos!

The culture of 1’s & 0’s

Scott Rigby, Consulting Manager APAC, Adobe Marketing Cloud -  Linkedin, @rigbyscott

Napoleon Bonaparte once said ‘War is ninety percent information’. A large number of our customers are operating in highly competitive environments where having the information available to inform their decisions is vital to succeed. The war they’re fighting is not only to stay competitive and relevant, but also internally within their organisations in getting access to the information, analysing it and actioning it.

We know that organisations that use data and analytics to create competitive advantage are 2x more likely to outperform their peers*. However organisations today are being challenged on how to move from the traditional “gut-based” decision making culture to an evidence based one. Does this mean that organisations should make decisions only off the data? Absolutely not – the data should be used to support the decision makers, make predictions and even prescribe what the organisation should do.

Quite often organisations face resistance to this cultural change towards evidenced based practice. This can be attributed to lack of information on why the change is necessary, fear of the unknown, not having the right skills or having grown accustomed to doing things a certain way. Commonly we see a gap where companies want to become data-driven and who have invested heavily in their technology, but have failed to make a corresponding investment in their people, processes and culture to maximise this.

So where do you start?

Don’t start by throwing the baby out with the bathwater. Most organisations have some of the building blocks they need in place already and for some it can be a long process of crawling – walking – running, use baby steps to get you started. Start by devising a basic plan that outlines the goals of the business, the KPI metrics you will use to measure these and how these will be included in reporting across the business. Gain cross function stakeholder buy-in and circulate this to the wider team with clear communication on the intent.

Identify the teams that are using data to make decisions (usually they’re operating in silos) and start to promote how they’ve leveraged the data to drive monetised uplift and wins for the business.

Nominate individuals who are data advocates within the organisation to spread the word and evangelise the benefits and techniques they used to deliver their wins. Have them assist other teams to do the same and communicate, communicate, communicate!

In July, Adobe will be running our annual client event ‘Symposium’. I am thrilled this year to see we are running a track that zeroes in on the collective marketing organization and we will be delivering some definitive tools and frameworks businesses can use to become data driven. So please join us for this informative event if you are looking to transform your business.

To register for the Sydney symposium on July 16th click here.
To register for the Singapore symposium on July 18th click here.

* Source: Columbia Business School & NY American Marketing Association, 2012.