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Big Data Marketing

Fred van Westerop, districtmanager Northern Europe at Teradata, talks about Big Data Marketing.

 

IBM Survey Identifies Key Attributes of Leading Marketers

 

IBM recently published the findings from its 2013 Global Survey of Marketers. You can view a presentation of the findings here. The 2013 survey included more than 500 marketing professionals worldwide from more than 15 industries.

As you might expect, the top marketing challenges identified by survey respondents were:

  • Acquiring new customers (42%)
    • Retaining existing customers and improving loyalty and satisfaction (35%)
    • Creating consistent, relevant and positive customer experiences across channels (34%)
    • Understanding social media and using social channels effectively (34%)

In analyzing the survey results, IBM identified a group of “Leading Marketers” based on their ownership of the customer experience across channels and their use of marketing technologies. As a group, the Leading Marketers delivered superior financial performance than “all other marketers” on three financial measures.

  • 3-yr Gross Profit Growth – Leading Marketers 1.8x higher
  • 3-yr Net Income Growth – Leading Marketers 3.4x higher
  • 3-yr Stock Price Growth – Leading Marketers 2.4x higher

IBM identified numerous differences between Leading Marketers and all other marketers, and the table below shows just some of the major differences revealed by the survey responses.

BLog Post 78 - Table 1

I would suggest that one of the most important differences between Leading Marketers and other firms is that Leading Marketers take a broader view of marketing responsibilities. For example, the IBM survey asked participants to rate the effectiveness of their marketing organization in performing across all 4P’s of the marketing mix. The table below shows the percentages of Leading Marketers and all other marketers who rated themselves as highly effective across the 4P’s. Notice that the least difference between Leading Marketers and all other marketers is in the area of promotion.

Blog Post 78 - Table 2

In an earlier post, I argued that marketers must focus on all components of the marketing mix if they want to reclaim their strategic role in the C-suite. The results of the IBM survey demonstrate the importance of taking a more holistic view of marketing’s role in the enterprise.

Lisa Arthur, CMO Teradata Applications

The evolution of marketing

In an ever changing world, marketing changes too. But marketers need the right tools. So it’s time that marketingtools change too, says Jive Software in their whitepaper ‘Marketing Transformed’. Most marketers still depend on the same tools and methods they used 20 years ago: email, meetings, phone calls and desktop apps, leading to a lot of disconnects, inefficiency and pain. But change is finally at hand. New social business technology has the ability to knit cross functional teams together and empower marketing productivity in ways never possible before.

According to a recent study of over 1700 chief marketing officers, four out of five CMO’s anticipate a high or very high level of marketing complexity over the next five years, but only half feel ready to handle it. Those CMO’s have every reason to be concerned, according to Jive. The sheer size of the task has grown, with a more diverse market landscape to master, more communication channels to leverage, and a lot more data to take account of. The expectations have grown, too. Marketing departments are under greater pressure to develop more agile and precision targeted campaigns, generate more leads and ultimately contribute more to companies’ bottom lines.

Unfortunately, Jives states, marketing methods and tools haven’t kept pace with the demands. When it comes to the human interactions and collaboration at the heart of so many marketing activities – like planning and executing campaigns, creating collateral, enabling channel partners and nurturing customer relationships – marketers have been stuck using tools from an earlier age: email, phone, face-to-face meetings, on-site events, content management systems and desktop apps. A few newer collaborative tools have entered the picture, but have tended to be piecemeal and limited-purpose.

All this causes that knowledge-workers need a lot of time to do things they aren’t supposed to do. Just think of all the effort and frustration that goes into fruitlessly searching for information, sorting through email, managing disjointed document revision cycles, struggling to keep all team members on the same page etc. etc Jive states. According to McKinsey Global Institute the average knowledge worker spends 19 percent of the day searching for information and expertise and another 28 percent of the day processing email.

Read More…

The evolution of marketing

In an ever changing world, marketing changes too. But marketers need the right tools. So it’s time that marketingtools change too, says Jive Software in their whitepaper ‘Marketing Transformed’. Most marketers still depend on the same tools and methods they used 20 years ago: email, meetings, phone calls and desktop apps, leading to a lot of disconnects, inefficiency and pain. But change is finally at hand. New social business technology has the ability to knit cross functional teams together and empower marketing productivity in ways never possible before.

According to a recent study of over 1700 chief marketing officers, four out of five CMO’s anticipate a high or very high level of marketing complexity over the next five years, but only half feel ready to handle it. Those CMO’s have every reason to be concerned, according to Jive. The sheer size of the task has grown, with a more diverse market landscape to master, more communication channels to leverage, and a lot more data to take account of. The expectations have grown, too. Marketing departments are under greater pressure to develop more agile and precision targeted campaigns, generate more leads and ultimately contribute more to companies’ bottom lines.

Unfortunately, Jives states, marketing methods and tools haven’t kept pace with the demands. When it comes to the human interactions and collaboration at the heart of so many marketing activities – like planning and executing campaigns, creating collateral, enabling channel partners and nurturing customer relationships – marketers have been stuck using tools from an earlier age: email, phone, face-to-face meetings, on-site events, content management systems and desktop apps. A few newer collaborative tools have entered the picture, but have tended to be piecemeal and limited-purpose.

All this causes that knowledge-workers need a lot of time to do things they aren’t supposed to do. Just think of all the effort and frustration that goes into fruitlessly searching for information, sorting through email, managing disjointed document revision cycles, struggling to keep all team members on the same page etc. etc Jive states. According to McKinsey Global Institute the average knowledge worker spends 19 percent of the day searching for information and expertise and another 28 percent of the day processing email.

Read More…

Beauty is nothing without brains…

There are lot’s and lot’s of funny ads to find on the net. We’re not gonna show you all, because not all of them are that good. But it shows you don’t have to take yourself to seriously as a brand. Not even the big guys do, as Mercedes demonstrates.

 

Teradata Corporation and ADAM Software together in Integrated Marketing Management

Teradata Corporation has announced that it has entered into a strategic sales and technology partnership with ADAM Software to extend its leadership in Integrated Marketing Management (IMM) for data-driven marketing by delivering sophisticated rich-media management capabilities for the extended enterprise to benefit marketers and their customers throughout the world.

With the recent proliferation of digital touch points, a key challenge for today’s marketers is to strategically use engaging rich-media content like video, audio, augmented reality and dynamic web content in their brand and product campaigns. Creating meaningful and relevant customer experiences and preserving brand consistency through multiple channels is increasingly the key differentiating factor for leading companies; but operationally speaking, doing this exceptionally well is very complex. Helping today’s enterprises improve in marketing process efficiency, make it easier to manage rich media across today’s distributed, multi-lingual ecosystems, and to optimize the brand experience all along the customer journey (marketing, sales and services), is precisely what this partnership between Teradata and ADAM is all about.

The exponential growth of marketing activity and screen-driven experiences means consumers now expect to find every product aspect they are interested in immediately presented to them. Marketers need solutions that enable them to respond quickly; and to ensure and maintain brand integrity they must work from a single, centralized master of approved content. CMOs must realize that customers, campaigns and content systems are no longer separate entities; these aspects of the marketing environment need to be tied together with enterprise data and synchronized through workflows and process management systems with reliable analytics providing intelligence on customers and the market. These integrated elements – data warehousing, analytics and applications – are what define data-driven marketing. And with the Teradata-ADAM Software partnership, even more of a company’s data-driven marketing needs can now be met, say the companies.

Read the full pressrelease here

 

Is your marketing ready to go ‘glocal’?

In today’s world you don’t have to travel to conquer the world. All you need is a computer and the world is at your feet. Local businesses are just as capable to go global as large multinationals.” In today’s digitized business ecosystem, the local business can convert into a successful venture with customers and operations all over the world, and the global business can grow into a larger-reaching enterprise with efficient logistics and a strong brand”, says consultingfirm Frost & Sullivan in their whitepaper on ‘Glocal Marketing’.

To a business with an engaging product, geographic boundaries are no longer an obstacle in identifying and reaching prospects and closing sales. Increasing global access to the Internet; online social media networks; and multiple device types such as smartphones, tablets, and gaming consoles, are offering customers new means to collect information and make purchases, and providing companies large and small with more developed channels to bring their product to market. Yet the benefits of these technological advancements afford the globalizing company with unique marketing challenges and unforeseen process pitfalls. Marketers must be prepared to address increased workflow complexity, campaign management across multiple borders and channels, and variations in multicultural communication.

Read More…

Is your marketing ready to go ‘glocal’?

In today’s world you don’t have to travel to conquer the world. All you need is a computer and the world is at your feet. Local businesses are just as capable to go global as large multinationals.” In today’s digitized business ecosystem, the local business can convert into a successful venture with customers and operations all over the world, and the global business can grow into a larger-reaching enterprise with efficient logistics and a strong brand”, says consultingfirm Frost & Sullivan in their whitepaper on ‘Glocal Marketing’.

To a business with an engaging product, geographic boundaries are no longer an obstacle in identifying and reaching prospects and closing sales. Increasing global access to the Internet; online social media networks; and multiple device types such as smartphones, tablets, and gaming consoles, are offering customers new means to collect information and make purchases, and providing companies large and small with more developed channels to bring their product to market. Yet the benefits of these technological advancements afford the globalizing company with unique marketing challenges and unforeseen process pitfalls. Marketers must be prepared to address increased workflow complexity, campaign management across multiple borders and channels, and variations in multicultural communication.

Read More…

The Changing Role of Content in the Age of the Customer

ADAM recently hosted a webinar titled The Future of Content in An Analytics-Driven World. The webinar was presented by Dave Frankland with Forrester Research. In his presentation, Dave described how new customer behaviors are placing new demands on marketing programs and marketing content and how customer decision management is emerging as an important marketing discipline for most enterprises.

You can view a recording of this important webinar here.

Dave Frankland began his presentation by observing that the source of competitive advantage has evolved significantly since the beginning of the twentieth century. From 1900 to 1960, the primary source of competitive advantage was manufacturing excellence. From 1960 to 1990, the emphasis shifted to excellence in distribution, and from 1990 to 2010, dominating companies excelled at managing information. Since 2010, the companies that have achieved superior competitive results have excelled at delivering exceptional customer experiences.

The challenge is to deliver outstanding customer experiences in a world where a growing number of consumers have virtually constant access to a wealth of online information. For these “always connected” consumers, product research is the new norm. Forrester says that 82% of consumers now research products before they make a purchase, and 54% of consumers rely primarily on digital channels to learn about products and services.

In his presentation, Dave Frankland argued that enterprises need to think in terms of customer decision management rather than in terms of the traditional marketing funnel. Customer decision management is about always being able to “serve up” marketing content that is personally and contextually relevant to individual consumers. Frankland also contends that successful customer decision management will require shifts in marketing strategy, marketing processes, and technology infrastructure.

The Future of Content in an Analytics-Driven World provides many valuable insights for enterprise marketers.

Watch the on-demand version of the webinar here.