Let’s start by looking back at the history of marketing, and think how the everyday life of a marketing decision-maker has evolved over the years. Simply put, marketing history, and thus the tool box that a marketing decision-maker has had available at any given time, can roughly be divided into two parts: the history of media marketing (part 1) and the history of customer marketing (part 2).
For a long time, these two skillsets have developed independently, following separate paths. Media marketing witnessed the first bought billboard ads in the 1870s and the start of radio advertising in 1920s. The first TV advertisement in 1941 featured fancy wristwatches and the media spend was $4.00. Digital formats began in the 2000s (SEM, display, etc.) At the same time, customer marketing has followed its path from telemarketing in the 1950s, to the first e-mails in the 1980s, and latterly to a new world of marketing automation in the 2nd millennium.
We believe that we are about to witness one of the most significant transformations for marketing decision-makers. We also believe that it is time to demolish these silos.
But what does it mean? Look at the customer journey in the picture below. Until now, media marketing has focused on impacting the first two steps of the process (need and interest), while communicating to non-identified or lightly identified customers, commonly known as leads or prospects. Customer marketing, on the other hand, has focused on building loyalty and of course also minimising churn once the customer has already chosen (decision) and frequently self-identified at the same time.
At the same time, both parties had something the other needed. Media marketing has had the advantage of emotional content while customer marketing has sat on top of all customer data.
We believe that it is finally time to forget the old grudges and move from communicating to the separate channels of media marketing and customer marketing. Both channel systems need to work together to engage individual customers along their journey at different touch points. And to enable this change, we need two core marketing technologies:
- DMP: Data management platform
- CCCM: Cross-channel campaign management
Stay tuned for the next blog post in this series to learn more about these technologies and how to apply them in everyday marketing.