To power complex customer journeys and meet sophisticated consumers’ expectations, marketers need tech that drives business value, not commoditized collections of functionality. Marketers depend heavily on marketing technology today, but all too often it becomes a hindrance rather than helping them to develop institutional knowledge and unique intellectual property to power effective customer experiences and sustainable competitive differentiators. This presentation will discuss the factors that drive the marketing technology ecosystem, the future trajectory of enterprise marketing technology development, and how marketers can leverage marketing technology as a strategic weapon. This presentation will discuss:
Key marketing trends driving change and innovation in marketing technology
Identifying strategic marketing technology capabilities that drive business value
How enterprise marketing technology will evolve over the next several years
An introduction to the hottest emerging marketing technologies
A new marketing technology framework to meet marketers’ needs
Clearly, marketing technology will be a critical factor in succeeding in delivering the experiences that consumer expect. We look to martech to make experiences….
Martech is ubiquitous. Incredibly successful over last 20 years.
Unfortunately, the current martech landscape is not preparing marketers to confront today’s challenges and opportunities.
Painting by the numbers, filling in a list of tasks. Buy this, buy that.
Assembling that marketing technology ecosystem is no easy task. If it were, we’d all have one, right? I recently conducted two evaluations of enterprise marketing technology; one is our Wave for Cross-Channel Campaign Management, and the other is our Wave for Enterprise Marketing Software Suites.
In addition to the vendors, I talked to a number of customer references. There were 3 big challenges they articulated when it comes to leveraging technology to become more contextually relevant.
In third place, integrating online and offline – trying to achieve that consistency I spoke of a few minutes ago.
The second biggest challenge is transforming marketing for real-time relevancy, which is both a technology and an organizational challenge.
And the biggest challenge? Understanding customer behavior across channels and devices, to enable not just that initial engagement, but that continuous cycle of interactions.
Now let’s turn to an organization that has tackled these challenges.
Assembling that marketing technology ecosystem is no easy task. If it were, we’d all have one, right? I recently conducted two evaluations of enterprise marketing technology; one is our Wave for Cross-Channel Campaign Management, and the other is our Wave for Enterprise Marketing Software Suites.
In addition to the vendors, I talked to a number of customer references. There were 3 big challenges they articulated when it comes to leveraging technology to become more contextually relevant.
In third place, integrating online and offline – trying to achieve that consistency I spoke of a few minutes ago.
The second biggest challenge is transforming marketing for real-time relevancy, which is both a technology and an organizational challenge.
And the biggest challenge? Understanding customer behavior across channels and devices, to enable not just that initial engagement, but that continuous cycle of interactions.
Now let’s turn to an organization that has tackled these challenges.
Assembling that marketing technology ecosystem is no easy task. If it were, we’d all have one, right? I recently conducted two evaluations of enterprise marketing technology; one is our Wave for Cross-Channel Campaign Management, and the other is our Wave for Enterprise Marketing Software Suites.
In addition to the vendors, I talked to a number of customer references. There were 3 big challenges they articulated when it comes to leveraging technology to become more contextually relevant.
In third place, integrating online and offline – trying to achieve that consistency I spoke of a few minutes ago.
The second biggest challenge is transforming marketing for real-time relevancy, which is both a technology and an organizational challenge.
And the biggest challenge? Understanding customer behavior across channels and devices, to enable not just that initial engagement, but that continuous cycle of interactions.
Now let’s turn to an organization that has tackled these challenges.
The breadth to deliver the full customer journey. Despite billions of dollars spent on acquisitions and development, and a clear desire by marketers to reduce the number of vendors they work with, enterprise marketing technology remains highly myopic. Nowhere is the struggle to provide full functional coverage for cross-channel customer journeys more disjointed than the ongoing divide between traditional AdTech and MarTech solutions. While crossovers exist along with a gaggle of basic integrations, marketers are routinely forced to cobble together their own technology stacks or accept suboptimal interactions with customers.
Fifty-eight percent of the B2C marketers surveyed wanted to reduce the number of vendors involved in their enterprise marketing technology, but less than one-fifth believe they can get everything they need from a single provider. See “The Forrester Wave™: Enterprise Marketing Software Suites, Q2, 2016 [122622]” report.
No changes
Bottom: Mobile engagement platform should be ‘mobile engagement AUTOMATION’ to be consistent with FORR terminology DONE
Left: replace manual with ‘Batch’, reorder so it lines up with “always on” on the right DONE
Reorder outbound centric on the left to line up with bi directional on the right DONE
Left: replace parallel on first line with ‘manual’, line it up with flexible connectivity. DONE
Remove the 1:infinity underneath the people icon on right side by flexible connectivity DONE
Right side – flip order of consolidated cross channel to be below Business KPI benchmarks DONE
Bottom – optimization shouldn’t be capitalized DONE
Bottom – remove data virtualization; put everything in one bullet; Add ”transaction systems” and “contextual endpoints”; change delivery endpoints to ‘delivery POINT SOLUTIONS’ DONE
Right side – remove “layer” from last line DONE
Bottom – change CRM onboarding to ‘customer data onboarding’, remove / and add comma between EMSS DSP they are separate
Identity resolution is critical at all phases of the marketing process to support:
Coordinated customer experiences. Effective identity resolution spans devices and touchpoints, creating the addressability for systems of engagement to deliver cross-channel customer experiences. Recognizing customers across the full customer journey reduces waste by eliminating duplicate contacts, enhances experiences by enabling interactions in the right channel at the right time, and makes basic customer tasks such as registration and logging in more efficient.
Deep customer insights. Effective identity resolution allows B2C marketers to build robust customer profiles based on multiple data sources and interactions. Complete and granular customer profiles drive rich customer insights that enhance marketers' ability to precisely target campaigns and craft relevant interactions for high performance acquisition, cross-sell, and upsell efforts.
Better data governance. Effective identity resolution supports firms' commitment to data stewardship, and ultimately consumers' trust and confidence in brands. Identities connect the marketing systems, interactions, and consumer data that make customer preference management, regulatory and corporate policy compliance, and privacy management possible.
Realigned enterprise marketing technology buying lets B2C marketers focus on a specific set of mission-critical capabilities. Forrester calls this suite of functionality the enterprise marketing core. The core comprises the marketing technology requirements that organizations need to support complete customer journeys and drive business value from customer experiences. All other functionality will hang off of the core system. By aligning enterprise marketing technology capabilities with market imperatives, this approach supports the integration of systems of insights and systems of engagement (see Figure 2). The enterprise marketing core consists of five components that:
At Forrester, we believe it takes both systems of insight and systems of engagement to deliver contextual marketing. The goal is to understand customer behavior and engage effectively across the entire customer life cycle.
For contextually relevant marketing, customer data and real-time analytics deliver customer insights. Those insights in turn, enable marketing automation, so that you can automate customer interactions. And then the cycle repeats itself. Each interaction generates more customer data so you can optimize what you are doing with individuals in the moment, with individuals over time, and with all of your customers holistically. Over time you can understand how each Interaction drives customer engagement and long-term loyalty.
