Future-proofing your DAM selection
Event location - Online
Connecting the organizational dots by using the right technology.
As it is widely accepted that over 67% of a customers’ buying journey is online, it is clear that to impress potential customers, content from marketing and sales has to be consistently great and the machinery that delivers it has to function properly and seamlessly. It also needs to be delivered at the right time and in the right place. Meanwhile, the sophistication and variety of that marketing machinery is continuing to grow explosively.
The core problem or frustration has been how to manage all of this and yet still show clear ROI and cut costs while improving customer engagement. This has led to the rapid emergence of marketing operations as the governing role so that different interrelated operational responsibilities can be effectively managed in a coherent manner.
The previous cornerstone of marketing strategy of 1:1 marketing has been the holy grail, however the mantra of ‘a single customer view’ may still be a little way off due to organizational ‘silo’ structures and lack of transparency with departmental and agency partners hindering progress.
Forrester states in the paper, Predictions 2016: The New Benchmark For Brand Management: "In 2016, few marketers will be able to build digital bridges to individual customers that would allow the collection and real-time analysis of continuous data and then context-relevant delivery of a personalized marketing or product experience. Marketers will advance towards 1:1 marketing through personalization of the customer experience, but it will be a gradual process."
Instead marketers will seek out solutions where marketing ROI can be demonstrated, measured and streamlined to cut costs and speed efficiencies. Marketing operations is the new kid on the block to bring these efficiencies where process, technology and people come together to deliver marketing effectiveness.
In a recent paper, McKinsey’s David Edelman and Jason Heller gave credence to the fact that driving efficient marketing operations could deliver up to 25% improvement in marketing effectiveness through ROI and customer engagement metrics.
Getting the right technology, processes and people will be essential for success. As McKinsey points out, to get marketing operations right, is not just about getting the ‘best’ platform technology but it is more about getting the ‘best‘ technology fit for the organization.
To choose the right fit will need a consideration of the following:
As Scott Brinker from ChiefMartec.com has commented: “I’ve said before that he who controls the software controls the marketing. If you add on top of that control of data, control of budget accountability, control of best practices, and control of cross-silo marketing and sales visibility and coordination, marketing operations may very well become king.”