In our previous blog post, we discussed the development of the two independent silos: media marketing and customer marketing. The lack of data exchange between these two prevents us from redeeming the promise of personalised marketing in all channels. We also said that two core marketing technologies are needed to bridge this gap: DMP and CCCM. Let’s now dig deeper into these acronyms.
To create the personal experiences that our customers expect in all channels (own and bought), we need to address two challenges.
Firstly, we need to gather and maintain real-time and rich identity data from media marketing (unidentified data, lightly identified media data)
Then we need to connect this data to data from customer marketing (identified own data). And of course, we need to do this within the legal and ethical boundaries.
The solution is DMP, a data management platform that enables us to manage customer identities and target groups in the all-channel world. Vendors offering DMP solutions include e.g. Adobe, Krux, Oracle and Google.
But DMP alone isn’t enough, we have two more challenges to address:
We need to build actionable audiences and target groups from the gathered data
We need to orchestrate cross-channel customer journeys according to certain rules
The solution is CCCM or cross-channel campaign management. CCCM enables the management of customer journeys across multiple channels. It is marketing automation. Vendors in this field are more established and include Adobe, Marketo, Salesforce and Oracle.
What does this mean in practice? What are the practical all-channel customer journeys that we can create with DMPs and CCCMs?
Here we see three customer journeys from different industries:
Naturally the list of various use cases is endless, and each company should start from the ones that have the highest expected ROI and impact on customer experience. Here it makes sense to ”copy with pride” from benchmarks and best practices that you know will align with your strategy and brand. You also need to build MVP (minimum viable product) journeys and start testing them fast instead of spending months on time-consuming, over-detailed planning projects.
At the same time, it makes sense to think about the impact from a bigger picture. In our previous blog post, we said that what we see now is one of the most significant industry transformations for marketing decision-makers. A moment in marketing history when customer marketing and media marketing finally join forces and start engaging customers across all their channels.
Why do we think that is this so big?
1) Because it further increases the strategic importance of customer data. It becomes ever more crucial to take advantage of better tools to gather and manage data from different channels and devices. Those, who do, will surely have an advantage. But at the same time, it doesn’t mean that you should collect all data (we think the strategic objective of ”building customer 360 profiles” is so 2010), but rather focus on the data sources and applications that have most business value.
2) Because it changes the way in which we can serve our customers seamlessly across channels and devices. With the new technologies, we can collect, manage and combine data from different data sources and act on it across all channels, both owned and bought. So, instead of communicating only with our loyalty customers in our outbound channels (e-mail, print, SMS), we are now also able to utilise customer profiles in search marketing, display advertising or wherever their journeys might wander.
3) Because it will impact marketing roles. As the value of customer data increases, those who are directly involved with the data have an advantage over those who don’t. It will be interesting to see how the media agencies that traditionally rely on media data will adapt, or whether the CRM director will become the next CMO?
If you are on your way to be convinced, here’s where to start:
- Define the concrete use cases for all-channel experience (start with MVPs and iterate)
- Develop a data strategy for marketing and customer management (don’t forget sales!)
- Plan and implement data management in practice (including solutions needed)
- Kick-start a continuous operating model with an optimal multi-competence team
So let’s start demolishing those silos!
…and don’t forget to contact us to discuss your situation and how Avaus could help to accelerate your marketing transformation journey.