Archive | July, 2013

All about modern marketing

Marketing is more difficult than it has ever been, according to Jay Baer, social media and content strategist and author of Youtility: Why Smart Marketing is About Help not Hype. And it is going to get even harder.

“Everything is media and the competition for attention is unbelievable,” he tells Profit. “Executives aren’t just competing for attention against other companies that sell the same stuff. They are competing for attention against everything. Every cute cat video is competition.”

In this special report, hear from experts like Baer, and business and technology expert Daniel Pink, about how to get customers to focus on your brand by mastering the new realities of modern marketing.

Our Brand Could Be Your Life
“You need to give your company permission to make the story bigger. The best most successful Youtilities are from companies that have relationships with customers and perspective customers that transcend transactions. They have relationships that are still related and relevant but aren’t necessarily reliant on the product itself,” says Jay Baer, social media and content strategist and author of Youtility: Why Smart Marketing is About Help not Hype.

Everything You Know About Sales is Wrong
“Today, what really matters is your expertise, and you can’t develop expertise if you don’t care actually at some level about what you’re selling, whether that’s wholesale seafood or enterprise software,” says Daniel Pink, author of To Sell Is Human.

Seven Steps to Successful Social Customer Interactions
“Business executives and IT executives need to spend more time thinking about how to make online interactions consistent with real-life interactions they have with their customers,” says Christopher Sowa, vice president of Oracle Insight and co-head of Oracle’s Global Business Intelligence and Exalytics Strategy Pillar.

Leveraging Digital Body Language to Customize Consumer Interactions
“Marketers can harness digital information to enable more effective engagements, and to provide the right message to the right person at the right time,” says Susan Poser, senior director of Oracle Insight & Customer Strategy and a global lead in the Customer Experience Practice at Oracle.

The Keys to Successful Modern Marketing
“Buyers have vastly more information at their fingertips, and are in control of the pace and content of the buying cycle. Marketers must evolve with buyers to be effective,” says Steven Woods, vice president of software development at Oracle Eloqua.

Market Analysis
Oracle Eloqua Marketing Cloud Service drives results and innovation with modern analytics.

Is Your CMO Creating Hero Content
Advice from social marketing expert Michael Brito: “Social gives business leaders at large brands a chance to be human and build trust. At which point, these leaders need to decide: Now that we have the trust of the community, how do we insert our marketing messages in a way that’s not intrusive?”

Is Modern Marketing an Art or Science?
The ability to measure is met with the ability to analyze what the metrics mean. And the data is not only driving better decisions, but also freeing marketers to be more daring, to experiment, to explore the edges of well-known channels and venture into utterly new ones.

Involver to Oracle: Gold Rush to Modern Marketing
“Simply providing a tool to publish the occasional YouTube clip or launching a contest just isn’t enough,” says Rahim Fazal, founder of Involver and Oracle senior director.

Analyst Study Sheds Light on the Rapidly Evolving Role of Today’s Marketer
In a new report, independent analyst BtoB examines the ways marketers are adapting to a rapidly changing competitive landscape as intuition-based outbound campaigns give way to inbound initiatives encompassing both multiple digital channels and sophisticated data analysis.

 

This article was published before in July 2013 as a Special Report by Profit

Marketing operations according to a genius

We all know Mickey Mouse and Donald Duck. Aren’t they the most famous cartoon figures in history? They came out of the mind of Walt Disney.

Disney, a simple guy with a great talent. After joining the military during World War 2 he found a job as an artist. After starting his own studio, together with his brother Roy, he found out he wasn’t an animator. Soon he discovered he was the man with ideas. He knew what he wanted, what was possible and how much time things took. So he hired the right people to do things for him. Disney and his team created Mickey Mouse and the rest is history. Disney does roughly 36 billion US-dollars a year now.

Isn’t the guy a genius? And how simple a good (marketing)plan can be, shows this drawing of Disney, showing his idea on the Disney Company. An early thought on marketing operations?

 

The State of Marketing #1

In today’s digital world, marketing has shifted dramatically. The media system has changed and there is no singular way to broadcast or assume you can communicate with customers at will. Now, marketers have to find unique ways to create meaning for customers using a plethora of tactics, strategies and tools. The end result is a marketing world in disarray.

Over the course of a few months, Vocus interviewed more than two dozen experts and influencers on the State of Marketing. They have produced nine short videos.

The opening salvo in our video series features Author Dorie Clark, NYU Media Guru Jay Rosen, Author Jason Falls, IEEE President Karen Bartleson and Author Seth Godin discussing marketing in the digital era.

 

How marketers profit from technology in a multi-channel world

Teradata Corporation (NYSE: TDC) has released the results of its pan-European marketing study, “The Data Driven Marketing Survey 2013, Europe”. The study reveals that a shift to digital channels and the increasing importance of data have led to a “class structure” in marketing technology investments among companies using these solutions. Telco and IT companies invest almost 20% of their marketing budget on improving their marketing infrastructure, whilst retail (17%) and finance (13%) are close followers. Overall, however, 50% of marketing departments across all industries surveyed spend less than 5% to improve their marketing with technology investments.

In creating the report, Teradata eCircle surveyed more than 1,100 marketing professionals ranging from CMOs and key decision makers to marketing managers and technology users, from 19 European countries and across nine major industries, to uncover the challenges and trends in data-driven marketing adoption by European businesses and how marketers use technology to master them.

The study shows that despite the current, uncertain economic climate, the shift to digital is significant. Marketers still plan to increase their spending in digital channels, especially in social media (79%), mobile marketing (79%) and online display advertising (70%) within the next 12 months. What’s more, the first seven channels marketers plan to invest in are digital, with call centers being the first non-digital investment priority in 8th place.

The research also highlighted marketers’ desire to embrace data, citing it as a key driver of marketing success, with data-driven marketers more than twice as satisfied with their marketing programs than their counterparts who are not basing their decisions on data.

With two-thirds of marketers claiming a lack of simple metrics and the short-term view of their marketing departments as their biggest obstacles to success, the findings provide an eye-opening insight into the struggles facing the modern multi-channel marketer. In fact, the single biggest challenge facing marketers in 2013 was revealed to be the pressure to increase revenue.

Out of the more than 50% of marketers utilizing seven or more channels, the research also found that only 33% currently have Campaign Management technology to monitor their activity, whilst a mere 17% use a Marketing Resource Management solution. Notably only 10% use both.

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The ‘Other’ Data Challenge

In a recent post, I discussed the importance of big data in enterprise-level marketing. As both consumers and businesspeople increasingly use digital devices and online channels to access information, make purchases, and interact via social networks, the volume of data regarding these activities grows exponentially. Hence the term big data.

Many marketing and technology thought leaders believe that big data constitutes a treasure trove of information about customer actions and preferences that can boost the effectiveness of marketing and thus drive improved business performance. They argue that capturing, analyzing, and extracting insights from big data are now critical components of competitive advantage.

While I contend that big data has been over-hyped to some extent, I also believe that maximizing the potential of big data should be a high-priority strategic objective for most large enterprises.

Enterprise marketers must also recognize, however, that big data is not the only data-related issue that must be addressed to create a world-class marketing operation.

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Marketers must go into zombiemode

Have you seen the tv-series ‘The Walking Dead’?, or did you just went to the movie ‘World War Z’? Then you know zombies are hot. They take want to take over the world, but somehow never succeed. Still there are lessons to be learned from zombies, says Kelly Gregorio in het article ‘Four Marketing Rules We’ve Learned From Zombies‘ on MarketingProfs.com

There four basic rules zombies and marketers (need to) live by:

  1. Keep your eye on your target (audience)
  2. Never roam alone
  3. Have advanced weapons on hand
  4. Accept that the world will never be the same

See if you can find them?

Creating a “Next Generation” Marketing Organization

George Bailey, a senior advisor to Sony and a MarketShare Advisory Board Member, addresses the struggles many marketing organizations are having with today’s data explosion, and the secrets to successfully integrating marketing analytics.

Presenting: results of the 11th annual Marketing Performance Management Survey

Survey’s are conducted to gain knowledge. Vision Edge MarketingITSMA, and Forrester recently published the results of their 11th annual Marketing Performance Management survey. We published earlier on this subject in March of this year

More than 400 business and marketing professionals from over 200 companies completed the survey, which was designed to assess Marketing’s performance: specifically, how marketers use data, metrics, and analytics.

All the results are now presented in this infographic.

A New Resource Regarding SaaS vs. On-Premises DAM

Marketing software applications have become mission-critical technologies for most global enterprises. The proliferation of marketing communication channels, the growing need to customize marketing messages and materials, and the emerging need to provide prospective customers detailed, interactive product/service information on a real-time basis have made it all but impossible for large organizations to manage marketing effectively without technology.

Choosing the right marketing software tools is, therefore, a major strategic decision, and one important aspect of the decision is whether to opt for software that is installed on in-house servers or software that is hosted by the software provider and accessed via the Internet. While the use of “cloud-based” applications is clearly growing, both delivery models have advantages and disadvantages. The choice ultimately depends on which model is the best fit for your business.

A new white paper by Ralph Windsor and Nick Brookes is a valuable resource for making this important decision. Ralph Windsor is a senior partner at Daydream, a UK-based digital asset management consulting firm, and Nick Brookes is an independent DAM technology and media delivery infrastructure consultant based in London. Both Windsor and Brookes are also members of the editorial staff at Digital Asset Management News.

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Why ROI Is Often Wrong For Measuring Marketing Impact

ROI is seductively simple. But is it what you really want? Marketers beware, this might hurt:  Using ROI to gauge impact can severely distort the true value marketing is delivering for your organization. Oh-Oh! Sure, it’s hard to have a marketing conversation these days without hearing ROI-this and ROI-that. It is, after all, one of today’s most beloved business buzz terms. And of course top management wants the “bottom line” on marketing’s contribution to business goals, and ROI is a handy yardstick.

It’s not that the notion of ROI is evil or anything. After all, linking marketing to financial performance is absolutely critical. It’s just that most people who use ROI in a marketing context probably aren’t applying it correctly, or really mean something else, says Dominique Hanssens, professor of marketing at UCLA Anderson School of Management. ROI’s roots are in evaluating one-time capital projects. “But is marketing a one-time capital project?” asks Hanssens. Clearly not.

We might (and indeed do) talk about marketing “investments” all the time. But marketing expenditures are technically an expense, as opposed to an investment, and that’s an issue here. In finance-speak, marketing costs are a P&L item, not a balance sheet item.

In the video above, Prof. Hanssens discusses how marketing measurement is adapting to a changing world.

 

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