One-to-one Marketing is closer than you may think! I had the great pleasure of presenting to a packed session of U.S. and international marketing professionals at the DMA 2010 event in San Francisco this month. My topic was” Emerging Marketing – Think Cross-Channel & Cross Device”. The emergence of new channels and new digital devices have made the marketing landscape both more complicated and far more exciting. Due to the rapid advances in the areas of Social, Mobile and Digital Marketing coupled with advanced analytics and targeting capabilities I believe that we are now closer to one-to-one marketing then we have ever been.
In the “Customer Driven” marketplace that we operate in today Social has permeated all aspects of the business ranging from PR and Marketing to all phases of the Sales cycle and throughout the entire customer life cycle. Even product & service development professionals are turning to Social and Crowd Sourcing channels to help innovate and develop the next generation of offerings that customers are seeking.
It is clear that we have crossed a chasm and digital connectivity is now an entitlement and utility in many people’s lives. With the low-cost and pervasiveness of mobile devices and the advancement in Smart Phone technologies it is foreseeable that effectively every person in America and many developed nations will have affordable access to a mobile computer in their hand 24 hours a day.
This changes everything!
Think about the opportunities of having a powerful computer in your pocket that is connected to the vast information available around the globe on the internet and the ability to have it all personalized to your language, preferences, time zone as well as your social networks and even your exact GPS location at all times 24X7. Talk about one-to-one marketing. I know you are all aware of this and I, myself am deeply into the technology industry but even for me, sometimes I have to pause and think about how rapidly the entire world has reached this position.
The advances in technology and mobile technology specifically, I belive are going to be the next major disruptive event in marketing, business and maybe even our society as we know it. Ok real me back in , I am probably getting too philosophical but you have to admit that these are indeed exciting times for marketers!
This year at the DMA2010 the digital marketing opportunity was loud and clear. Traditional and Digital marketers came together to embrace the new Direct Marketing mandate to Go Digital. I presented to a packed audience The Emerging Digital Media Trends (Think Cross Channel and Cross Device Marketing) and the response was extremely positive.
KEY DIGITAL TRENDS
As CMO’s become more and more ROI based the need for marketing analytics becomes more critical to measuring and building continued success. The DMA2010 show was a buzz about marketing analytics that spanned across channels and across multiple devices. The need for data has never been more pronounced than it is today.
Forrester Research has predicted that the Online Marketing channels will drive $55 billion in revenue for the digital industry focused primarily in five key areas of Search, Display, eMail, Mobile and Social Marketing.
FOCUS ON DATA COLLECTION POINTS
With the rise of new digital marketing channels comes a need to focus on each new channel as a data collection point as well as an opportunity to connect with customers. Marketers now have an opportunity to collect customer feedback from multiple emerging channels such as FaceBook, Twitter and YouTube and then aggregate that data with other channel data to start to build a 360 view of their customers from a lifestyle perspective.
There is no shortage of data. What is in rare supply is the ability to aggregate all of the data collected and turn it into real-time actionable insights/ Insights that reflect not only the channel that a customer is engaging form but also the device type, time of day and even location of that customer that have real impact on the kind of engagement they expect from your company.
Turning data into insights as quickly as possible is a real challenge for today’s marketers. The data is coming in quickly in multiple formats from multiple channels.
A NEW BREAD OF MARKETER IS EMERGING
I believe a new bread of marketer is evolving. A marketer that is digitally savvy, socially tuned in and analytics oriented. Customers are driving this transition and companies need to quickly embrace the new opportunity and prepare with the appropriate staff, technologies and strategies. This new bread of marketer is breaking through company silos and delivering customer value appropriately at every customer touch point. All marketing is becoming social marketing. No matter what your channel social engagement should be a part of the mix.
REAL TIME CUSTOMER ENGAGEMENT – CUSTOMIZED BY CHANNEL
Digital Marketing is a 24X7 engagement model that transcends multiple channels and device types. For example a customer may begin engaging with your company or products while reading a print ad over coffee in the morning. That engagement may change to a search for your product later in the morning on Google then transition to a web page and site interaction with your company over lunch that could include videos, live chat and downloadable content. By the end of the day the engagement may transition yet again to a social interaction where they are checking in with friends for a quick reference of experience with your company and products then finally move to a mobile phone interface on their way home from work where they are looking for more utility functionality such as finding a store location in their area and mapping directions to go complete the purchase in a retail store.
How you communicate with your customers should depend on when and where you are communicating with them. The one consistent theme that I frequently promotes with my clients is to make each interaction a “Conversation Opportunity” No matter which channel you engage with clients invite them to have a conversation with your firm. Conversational Marketing is more intimate and focused on a one-to-one relationship as opposed to broadcast marketing to the masses. People want to feel like they are dealing with real people in real-time.”
Tell us what you think. Will Mobile and Social change the way people market, research and purchase products and services?
Posted November 1, 2010 by Warren Raisch