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Wagawin – Blog Post 1 by Jeffrey Karl (@jeffreylkarl)
“There is nothing so terrible as activity without insight.”
— J.W. von Goethe
Following the article, which was published by CMO by the end of last year, we’d like to take you on a journey through the 5 biggest marketing trends that are currently setting the pace in our industry.
First and foremost, the keyword among all marketers this year is customer experience.
In 2019, this is attained by means of clever data-driven creativity strategies aimed at building customer loyalty. Their goal is to achieve a single view of the customers, which allows them to enjoy the highest level of personalization in an immersive mobile experience. Companies need to build proper infrastructure to move at the same pace as their customers, while of course always keeping an eye on privacy protection, which ensures the customer’s trust.
Let’s take a closer look at how all this is possible this year.
1. Data-Driven Creativity
According to Stacy Martinet, VP of Marketing Strategy and Communications at Adobe, the one common denominator among today’s most innovative companies is a unified view of the customer, pulling data from across multiple sources. This approach helps marketers to create the right content faster and deliver that content to the right customer at the right time. As detailed in a report by the McKinsey & Co., companies that integrate data and creativity in their day-to-day practices drive two times the growth of companies that have those capabilities but manage them separately.
2. Experiential Commerce
This concerns the next frontier of e-commerce: instead of offering the lowest prices only to sell products as quickly as possible, the focus is now to shift into an ongoing relationship with the customers. As Martinet said, “It’s loyalty 101: The one-time transaction might bring in some short-term results, but it’s the true fans of your brand and products who will be lifelong shoppers.” Technologies such as augmented reality and voice search further support the growing trend of online research for the purpose of offline purchases.
3. Personalization: Connecting Content & Data—Ethically
Until now, the personalization of marketing strategies has been rather basic. To truly unlock the value of personalization, companies need to connect data and content in a way that leads to a single view of the customer, which is the core of their next-generation marketing ROI capability. The technology providers in the industry are making strides towards this goal: Adobe, SAP and Microsoft recently announced their Open Data Initiative, which is a joint strategy to combine the power of their technologies to help brands better connect their data across their organizations and build a single view.
Of course, whenever we speak of data collection and usage, concern about privacy protection ensues. Marketers must ensure an ethical handling of all customer data: respecting the customer’s privacy is crucial to building trust and consequently a long-term relationship with them. In 2019, many organizations will have what McKinsey refers to as a “consent management” function, Heller said. That involves having an ethical view of how the organization manages customers’ data, protects that data, and establishes governance around how that data is utilized.
4. Account Based Marketing in B2B
Sales and marketing departments need to align their strategies, also in regards to managing the relationship with B2B accounts. A holistic view is required, independent from department-specific KPIs: just like B2C customers, the core of CRM strategies in the B2B field should shift to targeting cross-department priorities, aiming at a unified view of the account as a customer.
5. Digital Transformation in Marketing
Marketers have spent the last years getting people, processes and technologies down to a science. The next step is now represented by customer experience management. That means to connect behavioral, transactional, financial, operational customer data into a seamless flow — increasingly by means of implementing agile methods borrowed from the world of IT and recently catching on with marketing and sales departments of many leading global companies. Agile is, according to Jason Heller (Partner and Global Lead, Digital Marketing Operations at McKinsey) both an operating model and an organizational construct because “you are changing the way the organization is structured and the way that performance is managed.”
Considering all these trends, the importance of audience insights emerges clearly as something that all advertisers, from market leading brands to newcomers just breaking through, cannot further overlook. Here’s where Wagawin’s exclusive LivingAds technology can really make the difference: a blend of instant user interaction, pre-click data on ads and detailed audience insights is the secret ingredient for marketers to further define a unified picture of their customers and their needs.