“Every person with a Smartphone viewing their updates/notification is a potential customer”
If we talk about digital marketing in this age where everything is just a click away, you would be surprised by how many innovations are spearheading every day in the marketing space, online Marketing tools have turned the game around and made life difficult for Company/Brand CMO’s to choose from array of products/services and gauge which one would be a scalable scheme and provide suitable ROI or exceed expectation.
Taking the talk further, ‘Marketing Technology: The Innovation that drives ROI’ which was the theme of Nasscom’s 2nd Edition of “Martech Confluence” which was held in Hyatt Mumbai.
The event was well poised on the theme of “Innovation that drives ROI”; the rising need of digital solutions is due to rapidly growing consumer demand, information technology’s role in facilitating the expectations and strengthening customer engagement.
The Event started off with a brief welcome speech by Mr. R Chandrashekhar, President, NASSCOM, talking to an audience that were keen to take some learning from him and understand from his experience, Mr. R Chandrashekhar focussed on speaking about integrated technology that allows to tackle the rising need of customers and becoming a more customer centric enterprise. Also, “Building a set of new competencies keeping in mind the customer needs has become imperative and technology is going to help build that expertise.”
Sharing some of the highlights from the Nasscom’s 2nd Edition of “Martech Confluence”
Presentation by Mr. James McQuivey, Ph.D. VP, Principal Analyst – Forrester, he gave an insight on how consumer hyper-adoption and emerging technologies drive digital disruption.
Some key take ways from the presentation were:
Talking about the rage Tesla Model 3 created, Mr. James narrowed down the learning of customer behavior in 3 parts:
- Customer hyperadoption
- Customer Experience
- Digital Disruption
Continuing his talk, Mr. James said Customer hyperadoption, digital Disruption and customer Experience marketing must rapidly evolve to the next level.
The new marketing requires technology that:
- Collects and understands data about the customer
- Anticipates what the customer needs next
- Reaches the customer wherever they are
- Communicates with the customer in as natural a way as possible
Presentation by Mr. Joe Stanhope VP, Principal Analyst – Forrester on cracking the code for revenue growth: delivering great customer experiences with technology innovation:
Some quality facts and figures were shared which are beneficial for Marketers, which include the following:
- Opportunities if calculated: 30 Billion Mobile moment
- Going Digital is not enough
- 80% of customers you are targeting through digital medium distrust ads
- Marketers must win customers moments.
- Change your marketing mindset by delivering on-brand experiences.
- Technology is an enabler of contextual marketing which is frictionless, anticipatory and immersive.
- Engage the customer to drive growth
- Help Marketers do their jobs.
- Prepare marketers for the future
Aligning technologies and business value
- Consolidate the control of parallel capabilities
- Tie systems of insights and engage together
- Isolate and innovate around the true value drivers to create unique capabilities
- This is the enterprise marketing core
The Enterprise marketing core is to:
The customer should be able to engage, discover, ask, explore, buy and use the product or services through the medium of:
- Agent desktop
- Contact Center
- Digital advertising
- Direct mail
- Mobile app
- POS, Kiosk
- Social Media
This was an interesting Presentation by Mr. Dave Frankland, Chief Strategy Office, Selligent
Some key takeaway points in his presentation were discussing on the following topics/talks:
- Bombarding the customers with messages from 500 in the 70’s to 5000 today
- Building a relationship with today’s consumer requires new routes and approaches
- hard to reach today’s customers reasons being
- They are hyper-connected and want immediate response
- Data aware so they expect the brands to leverage their data
- Well informed and expect brands in their social dialogue
- Distracted because they expect concise content and effortless experiences
- Considering a report which stated that human’s attention span have fallen below that of goldfish, why should the customer give you 8 seconds of attention?
- The most precise resource in customer relationship is consumer attention
- Consumer First principles should guide decision such as
- Identify & recognize – in real time & across channels
- Insight-Driven – predictive & contextual
- Relevant – Channel flexible & touchpoint – agnostic
- Appreciated – valued and respectful
- The voyage to customer first includes:
- Agree on your decisions
- Rethink how you identify and recognize consumers
- Leverage predictive and contextual capabilities
- Build permission and earn your consumers’ attention
- Seek to become appreciated and valued by customers
- Start small and build
There were other noticeable speakers too and couple of panel discussions focussing on the theme of the day.
Role of Technology in Marketing has increased in the recent times with technologies like artificial intelligence and data analytics now playing major roles in understanding and meeting customer needs and creating more personalised solutions. The rising discipline of Customer Experience (CX) has helped companies put customer needs at the centre of their planning and processes. Marketers are now using CX solutions and measurement tools to track their ability to deliver customer-obsessed outcomes.
The 2nd Edition was a power pack event with all the big names chipping in from the marketing sphere to discuss on the rising trend of online marketing and better ROI. The new age marketing has become disruptive, and technology has made communication real time and has enabled customers to search out information on their own terms and connect directly with brands’ content and commerce capabilities directly. Further, the ever-changing purchase paths of customers; the emergence of new channels, and the constant change in the MarTech landscape now poses challenges to marketers trying to optimize their budgets in an effort to win, serve, and retain customers.
SPONSORS OF THE EVENT :