THE FUTURE OF MARTECH

MARK GRIFFITHS, Regional Sales Director, Marketing Cloud at Salesforce New Zealand gives us a rundown on where data-driven marketing strategy is headed with the support of new technologies.

ACCESSING ACCURATE CUSTOMER DATA HAS BECOME A POWERFUL TOOL FOR MARKETERS AS THEY ENGAGE CUSTOMERS AT A MORE PERSONAL LEVEL. HOW ARE YOU ANTICIPATING THIS NEED FOR DATA WILL GROW IN THE NEXT FIVE YEARS? AND WHAT’S THE CORRELATION WITH OVERALL ROI?

Brands recognise that data empowers marketers to deliver the trusted and personalised engagement that today’s customers expect, but managing it is only becoming more complex.

Salesforce recently surveyed 8,200 marketers across 37 countries for the seventh edition of its ‘State of Marketing Report’, which revealed Kiwi marketers are increasingly turning to data-driven forms of customer engagement. The report projects a 50 percent increase in the number of data sources marketers will use between 2021-22 and a 100 percent increase in the next two years alone.

Specifically, it found marketers are moving away from third-party sources and are increasingly looking to incorporate known digital identities, transactional data, declared interests/preferences, consent, offline identity and anonymised digital identities.

We’ve seen that marketers who have access to these types of more granular, relevant and richer data sources drive more personalised customer experiences and in turn a greater return on investment. For example, Trustpower is using Salesforce Marketing Cloud to enhance its customers’ experience through more automated and personalised engagement, helping the business drive stronger customer relationships and improve retention.

As marketers become more data-driven, measurement will also become increasingly important as a way to measure performance in real-time and make informed decisions.

ARE KIWI CMOS CURRENTLY PLACING ENOUGH VALUE ON CUSTOMER DATA, AND DO THEY HAVE THE NECESSARY SKILLS TO BE CHAMPIONING THIS?

Yes, they definitely understand the value of customer data and that those customers are often prepared to share more data provided there is a value trade off. In Salesforce’s recently launched ‘Connected Shopper Report’, it found 29 percent of shoppers are more likely to purchase from a brand or retailer when they offer a tailored customer experience. So, marketers need to look at how they can use data to improve customer experiences through tailored content, personalised messages or product recommendations.

What we’re seeing from a skills perspective is that the data-driven shift coupled with the expectation for sophisticated customer interactions means the most well-rounded marketers also need to be technologists with data management and analytical skills. Beyond instilling a technical skillset, softer skills such as teamwork and collaboration will continue to be central to success with leaders placing value on shared goals across different departments.

The relationships between marketers and their counterparts in IT also need to remain strong, with collaboration on analytics, personalisation, and other technology decisions the norm.

WHAT CAN MARTECH PROVIDERS BE DOING MORE OF TO HELP MARKETERS BETTER MEET THEIR DATA NEEDS AND CAPABILITIES?

Martech and Adtech providers play a key role in helping marketers get access to relevant data in more efficient and effective ways through new technology enhancements. This includes open data platforms, off the shelf integrations, API connectivity, drag and drop simple to use interfaces, automation and improved reporting and analytics.

Those providers should also look to AI, to help marketers drive 1:1 personalised experiences at scale. AI also enables them to identify, interpret and understand a customer’s intent and then determine which offers, actions and comms to surface and where.

WHAT ARE SOME OF THE BIG ADVANCEMENTS IN TECHNOLOGY MARKETERS SHOULD BE AWARE OF?

The dissolution of third-party cookies is forcing marketers to review their reliance on third-party data sources for advertising and focus on first-party data strategies.

To realise any value from first-party data, marketers need to look to platforms like Customer Data Platforms as a way to connect siloed customer data across multiple touchpoints and build a unified, coherent, and complete view of each customer. This enables them to curate targeted segments which flow through to marketing automation platforms for omnichannel execution.

Personalisation tools will also have an important role, helping marketers to visualise and track customer behaviour across multiple channels and manage customer experiences with real-time interaction management.