Customer World

Marketing is getting rewired- How do marketing specialists rewire themselves?

I was reading Bill Lee's  HBR blog article on Marketing is dead. Quite an evocative headline, I must say. We have either heard or seen such headlines for example - CRM is dead, Long live CRM!

So, I wanted to get away from the hyperbole to the real message or take-out there from his article. There is nothing extraordinary in the article that one has not read or seen in the blogs, conferences or discussion forums over the last couple of years. The key questions to me is how is it being practiced on the ground?

I agree with Bill Lee that there is a tectonic shift in how traditional marketing will be done in the future but the chasm within the marketing specialists still remain which is the biggest challenge and pain for marketers. 

Lee talks about about four key points that is needed to rewire marketing as against the traditional marketing model that is broken:

1. Restore Community Marketing
2. Find your customer influencers
3. Help customer influencers with social capital
4. Get your customer influencers involved in the solution you provide

The interesting aspect of making this change happen is how will marketing specialists - advertising, public relations, digital marketing, CRM & analytics have to adapt themselves to these new rules. What I observe today is that the advertising folks have a poor understanding of community marketing or content marketing or database marketing while digital marketers have a relatively poor understanding of brand keys and architecture and public relations folks talk only about online reputation management(ORM). This is where marketers get frustrated with their marketing partners. 

Here's what I believe can make it happen on the ground:

1. Hire outside their disciplines- Many of these specialists need a higher appreciation & respect of the techniques of the other and a seamless fusion of each of the strategies into their marketing plans is increasingly important if this model has to be fixed. 
2. Identify leaders as orchestrators - There is a need for what I call as orchestrators in each of the specialist disciplines who have the ability, skills and competency to tie-up the loose threads that emerge of out their team's plans into the other discpline or play a seeding role of embedding an idea of the other discipline within their marketing plans. Therefore, they lead the customers across their decision journey for their client's brands. 
3. Clients need to identify conductors within their teams - I believe time has come for CMOs to look for conductors within their teams who demand and define the "tight connections" between the outcomes of each of these specialist disciplines & orchestrators within these specialist teams to make this happen.

 

Winners of WSJ's Data Transparency Weekend

I had written in my last blog post about the WSJ's Data Transparency Weekend.

Here are some very interesting applications and winners. There are some very lovely ideas here!

• Outstanding Scanning Project: TOSBack2 – a project to scan the Web to build a “living archive” of all privacy policies online.

• Outstanding Education Project: PrivacyBucket – software that lets users of the Chrome Web browser view the type of demographic estimates that Web tracking companies make about them based on their Web browsing history.

• Outstanding Control Project: Cryptocat – an instant messaging service that lets people engage in encrypted chats inside their Web browsers or on their phones. Extra bonus: the program lets people generate random numbers (which are needed for encryption) by shaking their phone – allowing the creators to say that their program is powered by dance moves.

• “Ready for Primetime” Award: MobileScope – a service that lets people see what data is being transmitted without their knowledge by their cellphone. It also offers ad-blocking and do-not-track services for cellphones.

• Judge’s Choice Award: Site Scoper – a website that scans for tracking files and sensitive content on websites before you visit it.

And, finally, The Soup Cans and String Winner: Ostel, for its work on technology that allows people to make encrypted cellphone calls using voice-over-the-Internet technology.

Read more here

 

Join the WSJ's data transparency weekend!

Your data is the single biggest business for many existing and emerging companies across the world.

The web browsing you do is tracked thro' your IP and the cookies that get dropped in your PC or tablet leaves trails of our behaviour which many companies trade for money! The mobile phone that you use creates data repository on your location making it valuable information for  retailers, travel companies and leading brand marketers to name a few. Companies need to co-opt customers, collaborate and working with them closely if they want to build trust and meaningful conversations with them.

 

The need to be transparent about your data and its usage - is the single most important priority for companies. WSJ is conducting an event next week on data transparency and they are inviting developers to build free web tools to promote data transaparency and control. Think it is a great initiative and co-opting developers, customers by making them aware of their rights is great first step. 

Read More

How brands need to adopt & leverage technology marketing?

This week there was an interesting debate around P&G CEO - Bob McDonald's comment. He had mentioned that:

“In the digital space, with things like Facebook and Google and others, we find that the return on investment of the advertising, when properly designed, when the big idea is there, can be much more efficient. One example is our Old Spice campaign, where we had 1.8 billion free impressions.”

The word  "free" had raised a lot of eyebrows and threatened many on the future of advertising & marketing services business models. He was almost  saying that digital is the new mass market and that P&G does not have to pay big bucks to catch the attention  & mindspace of  such consumers, which they normally end-up spending for their brands offline. 

While I agree with him - some platforms will have to be leveraged where millions of consumers are already there in the digital market place, other marketing technologies need to be identified, invested and nurtured very carefully as most of these will increasingly become fragmented as more disruptive marketing technologies emerge in the years to come.

In fact I hold a contrarian view  that everything will not be free but I see technology marketing creating a new model of marketing spending - micro investing & budgeting - A lot of small budgets will have to apportioned intelligently across mutiple-technologies which can help marketing meet its brand objectives! Instead of a bazooka approach, it will be a stealth-gun method.

As I see the future, many new technologies will keep coming-up and world of technology marketing is going to see many disruptive innovations - by way of customer engagment technologies, customer experience platforms, payment technologies, BIG data & Analytics etc.. Today, it might be the facebook, google+ , twitter etc. and tomorrow it might be Pintrest, Instagram, some kind of a 3D software game etc.

The question really is how should brands decide which of these technologies do they need to invest and grow their marketing spends on? When we interact with many companies & their marketing departments, we do find them adopting marketing technology basis "flavour-of-the-season" approach.

1. Many a times, there is a need to adopt more depth to their thinking on how these technologies can leverage their current marketing strategies
2. Also, they need to evaluate and prioritize them from a host of options available to them but need to see which ones amongst them has a best-fit match to their marketing objectives.
3. They must refrain from having a herd mentality basis the buzz some of these technology marketing platforms create and start to adopt them without any framework or approach
4. Given they have limited resources and time to invest, it is important to debate & agree with all their marketing partners - both internal & external on how it will help achieve brand KPIs
5. Also, CIO & CMO will have to start working very closely as many of these technologies will link many of the company's internal departments like never before.

It was interesting to read Brian Solis  blog about the same topic and he had an interesting infographic which many of the CMOs can adopt as they evaluate and adopt many of these disruptive technologies for marketing:

It is important for CMOs to invest and back the right marketing technologies. They must carefully evaluate & measure the brand-fit & marketing objectives against each of them.

How marketing automation software need to tag the quality of leads better.

Sharon Drew Morgan makes very interesting points in her article where she draws attention on how marketing automation software needs to add decision facilitation technology to their offerings.

She writes, any such marketing software like Marketo, Eloqua,  just help capture some names - email addresses, telephone nos etc. which is great but there is no way to understand at what stage is the prospect in the buying process. This is the precisely where such software must add value to any company's lead management process.

I agree with her, as "stage of buying/decision process" decides in the lead's mind, the kind of information they need & plays a huge role in evaluation & purchase decision. According to me, each person, who is a lead, could be in different stages in the buying/decision process:

1. Trigger stage - where the person is just evaluating the need
2. Consider stage - where the person is considering to buy or not
3. Search stage - where the person is actively looking at all choices before making the decision
4. Choose stage - where the person is close to making the decision & is in a compare mind-set
5. Buy Stage - Where the person looking at all offers/discounts and ready to pay the cheque

Marketing automation software need to "integrate" or "tag" this decision-based thinking that goes through a prospect's mind to ensure a precise method of tagging the lead. This will certainly have downstream effects on what information is shared at each stage with the prospect by both the sales  and the marketing team that can accelerate decision making or conversion.

Capturing the name alone is not good enough. Calling it Hot/Cold/Warm may be better but not good enough too. It is important for marketing automation softwares to "tag" the leads by the the stage in the decision cycle to truly value-add to the marketing automation process.

 

How do you define success for data-driven marketing programs?

I often have been wondering off-late how does one define success for data-driven marketing programs - the reason being tons of hours are spent in understanding data, organizing data, cleansing the data make it ready for analysis and then time taken for building insights by analysts, getting organization-wide buy-in into the insights and developing a roll-out plan, measuring them etc.

The opportunity I see with all this, is a need to clearly define how is a company benefitting with all of this is increasingly becoming critical. No amount of insights & discovery is worth its weight in gold till it becomes actionable and value is returned in dollars for them. Also, another important question is how do such programs get more investments to provide more value year after year? I also don't see this being driven from one corner or department while participation from senior management teams and other departments is critical for its success, adoption and growing investments.

Interestingly as I got thinking about it, I got something from my archives which had an interesting reference to how to define success by Pat LaPointe.

He has got a lovely definition of defining success. Here's the forumula according to him which may be worth looking at:

It is a simple summation of all experiences of transforming insights into action and the value it created divided by the number of resources consumed to get this value and this is raised to the power of perception!

From my experience, I agree with him that the hard part is transforming the insights into action in any company. Also, perception of quality plays a critical role as enterprise-wide buy-in is critical for such programs as they need collaboration from other departments like sales, customer service, IT, channels etc. So, continued success of such programs must be exponentially raised to the perception and alignment of metrics & hence the value each of them get from such initiatives.

Would love to hear any other method of measuring sucess of data-driven marketing programs.

It's time for companies to think of a Chief Marketing Technology officer!

When I talk and work with people and clients on many assignments, the challenge I find for enterprises to be customer-centric is, how to bring marketing & technology together. Increasingly, technology is getting adopted in many customer-centric channels like never before and marketing is getting more & more real time & thefore technology is becoming a nerve-centre for marketing. The future , I have always thought is the changing( or can I call it merging) role of marketing & technology folks and the need for them to work together.

I read an interesting article today, if there is a need for a CMTO ( Chief Marketing Technology Officer)! I thought this was quite interesting. Who  is a CMTO and what does he or she do?

" A chief marketing technology officer (CTMO) — use whatever label you prefer — is simply the lead marketing technologist, organizing and managing that team. He or she reports to the CMO, not the CIO. Again, this is ultimately a marketing responsibility. There should be collaboration with IT, of course, assuring that marketing fully leverages its infrastructure and complies with technical governance standards. But collaborating is better than being solely dependent."

I find this very thought provoking and I do feel this is doable. The role of the CMTO is to ensure the right technology - either already invested is leveraged across the enterprise or if to be invested is partnered and led by this role - to collaboratively ensure this is adopted enterprise-wide.

Finally, customers must see the benefit of technology in their interaction experience with any company. The role of the CMTO is to make this happen.

Marketing automation software - What do buyers look for?

I have been blogging a lot on marketing automation and the need for enterprises to make it a part of their marketing arsenal. Today, there is an increasing need for real-time marketing and only marketing automation software can provide them this agility. 

I came across a very interesting research by Lauren Carlson, a leading CRM Market Analyst on what do buyers look for, when they want to buy a marketing automation software. I liked her classifcation of content into market-level content & product-specific content.

Take a look at what buyers look for:

1. The most important market-level content that they look for is pricing information & product comparison. Many a times, software vendors don't do a comparison w.r.t competitors and it makes sense to have it benchmarked against top competitiors and use it effectively for buyers to take a decision.
2. The importance of online software demonstration is also extremely critical for these buyers.
3. In the product-specific content, buyers look for user ratings and I think this is an extremely important point which many buyers look for. Publishing user ratings can help the vendors gain the trust of the buyers.
4. User Reviews - is another facet that buyers want and getting business user reviews can certainly tilt the buying decision in their favour.

Before buyers take a decision on marketing software, the study shows what are the various content and information that must be addressed by marketing automation vendors. Read the full study here.

 

Alex Bogusky's Consumer Bill of Rights

In an increasingly digital and social media marketing eco-system, companies and marketers need to be conscious and respect the rights of consumers. The fact that marketers need to be transparent, authentic and set transparent engagement rules using the data and information they capture or hold is becoming more and more critical. Alex's consumer bill of rights is an interesting place to start thinking about this. He outlines the following rights that marketers must respect:

1. Right to safety
2. Right to be informed
3. Right to choose
4. Right to be heard
5. Right to service

What other rights do you think is important?

Empowering customers in India - Indian privacy law set to change landscape

India is gearing up for enhanced privacy laws that protects customers. This can be a landmark legislation that can have lasting impact on consumers, data protection, data sharing and use of personal data & information. 

India has a not been privacy friendly state. Data sharing and exchange is done freely and hence it is not suprising to find personal information being freely available for a few cents. The proposed act or legislation seems to be all encompassing and can have a lasting impact. Take a look at some of the recommendations:

1. Currently, in India there is no legislation for protecting the privacy of individuals for all information that may be available with private entities. The legislation proposes to bring this to force.
2. Choice and consent of the indvidual before his/her personal information is collected
3. Information should be used only for the purpose it was collected
4. The individual should have access to his/her information at any time. He/she must be enabled to update or correct the information
5. Data controller would be transparent in his working as regards to the collection of personal data
6. Data controller is primarily responsible for its safety and use

The framework proposes:

• All forms of identifiable data be protected against under the right to privacy.
• It goes on to define what is personal data -..."to be able to identify a person, information need not necessarily be objective identification such as a person's name, but can be subjective information such as the opinion that a person is a "reliable" borrower or that a person is "expected to die of a terminal disease". It is also important to bring all personal information within this definition regardless ofthe format in which the information is stored."
• It also extensively takes into consideration Indian context - Aadhar program that uses biometric information
• Explicit consent or even approval from a regulatory authority may be required to be obtained to collect sensitive personal data.
• Processing of data in an automated manner must be avoided when it affects the vital interests of the data subject.
• The data once collected must be deleted after achieving the purpose for which it was
  collected.
• Privacy impact assessments to be conducted by independent authorities in the form of
  transparent audits, for the protection of personal data.
• Appropriate measures to protect the data of Indian citizens that are processed outside the country.

I believe this is going to have far reaching implications on how private entities hold data and process data. Also, information available on the web and information shared in social media will have to undergo scrutiny, as this personal data today is being used for commercial interests by many of the entities like google, facebook etc.

I have attached the approach note paper Download Aproach_paper.

I would love to hear comments, feedback and implications on this proposed law. And how marketing in India needs to adapt to this new environment.