- Expertise in KPIs and performance-based cultures gained across 5 companies as president, CEO or COO.
- Has re-engineered marketing information services of 5 companies to maximize growth and value.
- Helped position for sale: Authentic Response to reInvention, Medsite to WebMD, NOP World to GfK.
- All 6 Best Practices
- Pre-Call Discovery Process
- One-on-One Call with Expert
- Session Summary Report
- Post-Session Engagement
- The power of the consumer continues to rise.
Consumers have access to more information real time about products and services that are driving a different “path to purchase.” While there is a debate in the industry as to whether the traditional “purchase funnel” is dead or not, it is fair to say that the consumer path to purchase has been permanently altered.
This newfound consumer power is based on the fact that, today, consumers have the ability to buy and give feedback without intermediaries. They can use technology to source buying-decision information independent of the information that manufacturers and retailers are providing. Today’s shopping experience is now an omnichannel experience.
Finally, consumers can now provide their opinions publicly about the quality of their buying experience. Net, consumers are interacting directly with companies and retailers forcing them to respond more rapidly across all dimensions of product assortment, pricing, shipping and servicing components in order to compete and grow.
- Engaging customers as individuals is now possible.
Until recently, marketers have operated with a buyer/seller relationship model that was based on a market segmentation / semi-customization basis. This has changed so that now, customers can be addressed as individuals at scale and in real time. Marketers have the ability to track the online surfing behavior of consumers including online and offline purchasing behavior.
In fact, Gartner has reported in a recent survey that they expect 90 percent of companies to compete on a customer experience basis in the next two years. Behavioral economics and attribution-based modeling will help drive the programming along the customer path to purchase to stimulate demand/purchase behavior.
- Analytics, artificial intelligence and data science are taking a central role.
The role of analytics is growing and becoming more critical towards enabling better and a different type of decision-making. This notion of “big data” is where it all begins.
Over the last number of years, there has been an explosion in the amount and complexity of data available including volume, variety, velocity, veracity and value. Newer correlations and types of insights will now be possible, giving rise to defining new analytic frameworks that will need to be constructed. Advances in data science and artificial intelligence will make this possible.
Finally, the analytic context is moving from descriptive-based analysis to predictive and prescriptive types of analyses. This work will need to better distill what truly drives performance in this new world.
- Mobile is becoming a primary business platform.
Progressively, mobile is taking over as a primary way to do business. It is becoming a primary vehicle for advertising and reaching customers. New partnerships are forming to address this opportunity, e.g. IBM and Apple (IBM: computing and analytics; Apple: design and technical). SAP has integrated mobile development into overall product development.
- Technology tools are growing – hosting, integration, manipulation, forecasting, visualization.
With the explosion of data, new types of tools/capabilities/analytic frameworks need to be developed to organize and view data. The emergence of DSPs (demand side platforms) enable the bidding and buying of ads via a single point of contact. They can manage multiple ad and data exchanges in the process. The emergence of DMPs (data management platforms) offer the means to integrate and work effectively with different types of data and data providers to enable analytics, verification services and forecasting work to be done. A class of visualization companies have also emerged (e.g. Tableau, Qlik) to help marketers organize and display data for better interpretation and then distribute this information effectively across an organization.
- Reliance on IT is declining.
The rise of software-as-a-service (SaaS) systems has made it easier for marketers to adopt new platforms to do business. These new systems require access to the Internet and don't need to be installed by IT. This has led to departments buying their own technology and quicker deployment. Gartner survey indicates that 80 percent of marketers will have their own capital budgets within the next two years.
- The advent of marketing clouds is enabling companies to put core marketing processes together.
Some enterprising companies are integrating marketing, sales, service and customer engagement services into one system with the goal of selling these value-added capabilities to the CMO. Oracle, IBM, Adobe and SAP all are developing their own suites of marketing services that are cloud-based. These suites of services have largely been assembled via acquisition, e.g. Oracle acquired Eloqua and Responsys for marketing automation and BlueKai for DMP services. Oracle, Salesforce and Adobe have become big players in this emerging services model.