Posts tagged "Data"

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.

Picking up the Pace: SEA no longer a follower in digital

Stephen Hamill, Director of Adobe Marketing Cloud for SEA – LinkedIn @stephenhamill

An interview with Stephen Hamill from Adobe SEA on his views on the digital marketing landscape in the region, top 3 trends and challenges, Adobe Marketing Cloud and Adobe Digital Marketing Symposium Singapore:

 

1) What are your views on the digital marketing landscape in SEA?

Traditionally SEA has looked to the US, EU and even ANZ to prove digital concepts and innovation.  The stresses that globalisation, cloud and multi-channel are putting on SEA businesses are demanding that local companies close the time-gap between their US counterparts and themselves. SEA companies can no longer wait and be a follower, they need to take action as changes occur.

This puts local companies in a slightly uncomfortable position where they need to have the tools to innovate quickly, test for success fail fast or adapt quickly.  On-line is no longer seen as just the company’s website;  it is often shifting to be viewed as their primary business and as such the profile of on-line is increasing dramatically at the highest levels of the organization.  I am regularly surprised when speaking to C-level clients, as they are so digitally savvy and their focus is shifting more and more to perceiving digital as a primary business driver.  Only a handful of years back my conversations with middle to senior leadership would be around the frustrations of helping their senior executives understand the value of digital and the inherent challenges in the multi-channel world.  This is no longer the case: the CEO of a large financial institution recently finished a meeting with me with the statement, “it’s a no-brainer”.

2) In your opinion, what are the top 3 trends emerging in digital marketing?

  1. CMOs are more prominent and increasingly driving business growth
  2. Struggle to deal with the complexity of multiple digital marketing challenges all at once
  3. Traditional businesses (finance and media) that have been slow to fully commit are now making the move

3) From your experience with talking with customers, what are their top 3 challenges in the digital marketing space?

  1. Connecting data with content- providing a personalized experience that gives clients the experience that delights them and encourages a deeper relationship. Organisations need to be able to react in real-time and deliver in the last millisecond.
  2. Connecting the various components necessary for successful digital marketing in a meaningful way without becoming a system integrator – The Nirvana of digital marketing platforms is not just a vision, it’s a reality but making the parts work together is the biggest challenge. At the moment many organisations are finding their systems working in silos and what is needed is an integration of all those systems to allow for fast and effective delivery.
  3. Creating any meaningful digital strategy – 5 year strategy plans are out.  Imagine a 5 year digital strategy created 5 years ago; it wouldn’t have tablet devices and probably wouldn’t consider social as a business tool.  Building an infrastructure that will last, will be flexible enough to withstand whatever comes next and empowers innovation is a challenge most clients struggle to solve.

4) Why Adobe Marketing Cloud?

Digital marketing is faster paced than any other business discipline and as such the need to stay ahead and informed is paramount.  Milliseconds can make the difference between digital success and digital failure and the need for businesses to be on top and equipped with the tools necessary to survive is not negotiable.  Delivery of the latest technology and features, integration with other marketing components right now is only possible through the cloud.  Adobe is pioneering this space and the others are chasing us to try to keep up.

5) What you are looking forward to at Adobe Digital Marketing Symposium Singapore on July 18?

Despite the fact that we are the global leader as recognised by the analysts in Digital experience, the majority of our SEA marketing colleagues are still discovering the extent of Adobe’s experience and capability in this space.  I am looking forward sharing our proposition: end-to-end creation to monetisation and helping them re-think and innovate their multi-platform marketing strategies.

Join Stephen Hamill at Adobe Digital Marketing Symposium Singapore on July 18 for more on the latest trends, tips and best practices for digital marketing. Register now as seats are limited.

Are you connecting the digital dots?

Umang Bedi, Managing Director – Adobe, South Asia LinkedIn

Mr Umang Bedi Adobe Systems India (189)The marketing world is undergoing a tsunami of change. This rate of change is compounded by the sheer quantum of data being generated from multiple sources be it CRM data, third party data, user preference data or the massive deluge of social data . The main struggle that marketers’ today face is how to get meaningful insights from this vast quantity of data. Additionally, today marketing is a boardroom conversation where marketers have added pressure to justify the ROI on marketing budgets which itself is just the tip of the ice berg.  An effective marketing organization needs to keep pace with these changes.  How does a marketer surface insight from the vast quantity of data and decide what step to take next? Marketers need to understand how campaigns are performing, which creative to use and how to deliver those campaigns and across which devices.  Additionally, this must happen whether the campaign is a search ad, mobile app, on a social platform, email, landing page or the entire web site which adds to the complexity of data mining to gather the right insights.

 

The Digital Self

This vast quantum of data, in all its forms, paints a picture of who your customer really is – the ‘Digital  Self’ which is a whole new source of intelligence and influence. Within this, lie the smaller, critical insights that will drive success for the marketer. It is this tremendous idea that whether you are an advertiser, marketer or publisher – it’s the small things that bring meaning to every digital interaction and experience. It is this that lets us rethink what’s possible; taking signals and creating something magical transforming it into an expression of a brand connecting with real people. Not people who reside in rows and columns of a database but real people who have wants, desires and needs. It is about taking the countless signals, the self-defining choices, and turning them into meaningful experiences. Not just for the 1.5 billion individuals who are online everyday but also for the next billion who are coming. The Digital Self reflects how individuals are represented online – their likes, friends, purchases, comments, and everything that is shared through digital channels. If we can learn how to take these signals and map the patterns in a way that helps create more meaningful digital experiences it will change the way we advertise, market and publish and the way we reach each other.

 

Data and Content – Two sides of the same coin

Data is at the very core of digital marketing. However, data isn’t actionable alone – it is simply the left hand of digital marketers. The right hand is content. Content is elemental, it is beautiful, expressive and what brings experiences to life. It is content that provides the substance and drives people to take action – knowing what you want, seeing what you want and getting what you want. As marketers, we are creating more content than ever before; it is exploding just as much as data is. While content drives people to action, data is the enabler that helps amplify the content in small yet profound ways. We have often relied on cumbersome and time-consuming processes that require crunching large quantities of data over months to identify high-value audiences. As marketers, we need information that paints a full picture of the business- creative designs, advertising and analytics in one easy-to-access spot. There is a huge need in the market to help sort through terabytes of data quickly, to uncover valuable audiences and in a timeframe that allows them to promptly identify audiences based on shared characteristics and to also predict the probability of them converting. Digital marketers that get this are ripping out antiquated systems that simply do not scale and re-platforming their digital infrastructure.  But, the real payoff is the optimization that brings together data and content. It is the intelligence that allows us to deliver unique experiences to consumers that speak to them and inspire them to act. Everyone who engages with digital is exposed to a message, and if those aren’t just generic messages but connections that are relevant and meaningful to one’s interests and life – that’s even better.

 

The Last Millisecond

Marketers are tasked with delivering experiences to consumers in a fractional space of time: between the action – every swipe, tag, drag and click – and the decision – to buy, to subscribe, to join, or to leave the page. This is a concept which we at Adobe define at the last millisecond. To deliver a quality, engaging, in-context experience in that last millisecond, marketers need to overcome not only technology barriers but also organizational ones. It is not only about the right tools but how to work better with them. It is about understanding your customer. What do you know about this visitor? Where has he come from – banner ads, facebook posts, mobile app; is he an existing customer or is he a new visitor? What are his interests? What is the value that I can offer him? The system must be able to track his behavior, preempt his need and give him something relevant. This involves assimilating all the information I have, filtering it as per the interests of the visitor, understanding his requirement and delivering that onto an omni channel environment including mobile devices, tablets, kiosks and smart TV has to happen in the last millisecond. For example, the CMO of a car rental company would like to maximize revenue from car rentals during the holiday season. To accomplish this, she needs to know which potential audiences would be most likely to respond to a holiday car rental campaign. Today using advanced analytical tools this is a reality that will help the CMO analyze terabytes of multichannel data to uncover previously unidentified, high-value audiences, perhaps families of five or more and retired couples etc. These audiences are then ranked by their likelihood of converting, which in this case is defined as the customer actually picking up the car they reserve. Going even deeper, solutions today empower marketers to tailor match the interests of the potential customers. For instance, a six-person family would be offered a minivan while the retired couple would be offered a comfortable sedan. It is this kind of optimization in the last millisecond that activates ROI.  It drives a better experience for the customer, allows for media dollars to be spent more wisely and makes the delivery of content as effective as possible.

Getting access to the data that will deliver the information we need to build the right experiences can itself be a big challenge. Marketers need to be empowered to access their data at any time in a simple and efficient manner. Where marketers can connect the digital dots to deliver in that last millisecond, is where the big results start to happen.