We all know the opening part of Pope’s often-quoted adage. Certainly some acquisitions in the enterprise marketing technology arena are now looking like foolish decisions. In yesterday’s 2015 trading update, SDL announced it will sell multiple products that are “non-core to its future strategy,” including social intelligence, campaign management, and its Fredhopper eCommerce recommendation engine. SDL paid $110 million for the first two solutions when it completed its acquisition of Alterian in early 2012. The SDL announcement echoes Teradata’s similar announcement in November to sell its marketing application division. Teradata acquired Aprimo in late 2010 for $525 million, and then added smaller acquisitions of eCircle, Argyle Social, Ozone, Apoxxee, and FLXone – the last pick-up coming less than one month before the sell-off announcement.
By breaking the marketing technology landscape into two basic categories -- systems of insight and systems of engagement -- the report both organizes an increasingly complex technology landscape and gives concrete examples of the types of solutions available to marketers today.
We’ve all seen comprehensive diagrams featuring hundreds of vendor logos across multiple marketing technology categories. So, when tasked with mapping the technologies required to deliver contextual marketing, I decided to simplify things. For more details, see my new report “Combine Systems Of Insight And Engagement For Contextual Marketing.”
Forrester has defined broad “systems of X” categories that include systems of record, design, operation/automation, insight, and engagement. The latter two lend themselves to the enterprise marketing technology landscape.
Real-time analytics and insights drive the contextual marketing engine (below), and these tools fit squarely into the systems of insight category. Customer data bases and big data repositories fuel the engine, and as customer behavior refreshes them frequently, they, too, are systems of insight (as opposed to more static systems of record).
To successfully grow in Asia Pacific (AP), you must excel at understanding customers’ needs, wants, and behaviors and have the capabilities necessary to transform this insight into improved customer engagement. But that’s true everywhere. What sets the AP region apart are the continued vast differences between markets. Appreciating these market differences, and the impact they have on customers’ expectations, is critical when sourcing enterprise marketing capabilities.
Don’t worry: I’m not here to support your New Year’s resolution with work-out advice. But if you want to review the six requirements for planning a mature enterprise marketing strategy, then keep reading.
Real-time, contextually relevant customer experiences require a significant investment in enterprise marketing technologies. However, customer insights (CI) professionals often struggle with defining marketing technology requirements to match business objectives. It’s difficult because you must balance multiple stakeholders, accommodate channel-specific processes, and integrate products from different vendors to align with your firm’s enterprise-wide business technology (BT) agenda.
To support CI pros with requirements planning, Forrester offers a self-service assessment tool to help you determine how your firm stacks up using our enterprise marketing maturity model. We believe that customer-focused enterprise marketing initiatives rely on improved capabilities across six core competencies. The first three – strategy, resources, and processes – focus on organizational readiness. The remaining three – data, analytics and measurement, and technology – underscore the importance of the right tools to enable successful execution.
At Dreamforce in San Francisco earlier this week, Salesforce Marketing Cloud CEO Scott McCorkle highlighted retailer Eddie Bauer’s strategy to make marketing so good that it feels like customer service and customer service so good that it feels like marketing. He may well have added that when marketing and service are well executed, they both begin to feel like sales – or at least the extension of sales environments that they are meant to support.
This thinking underscores the blurring lines between marketing and customer experience. Where does one end and the other begin? And does it really matter? Certainly to the customer it doesn’t; all he or she wants is a great experience that delivers value appropriate to the current context. So then, why do brands continue to let organizational or functional silos get in the way? It’s easy to say that legacy systems and processes still dictate what brands are able to achieve, but surely with today’s business technology capabilities, it’s possible to do better.
Brands highlighted at Dreamforce not only do better: they blend marketing, services and sales for a seamless customer experience. Take Fitbit, for example. Of course the Fitbit business model is based on interaction and context, but Fitbit has taken things to another level by ensuring that marketing content is fully incorporated into app functionality instead of pushing messages at customers. Up-sell, cross-sell and promotional content appear when contextually relevant and blend smoothly with customer services information and sales/transactional opportunities.
How does the CI pro responsible for marketing technology buying make an informed decision when faced with so many options? Well, to quote Ron Davies (feel free to summon the voices of Three Dog Night, David Bowie or Shelby Lynne, if you prefer), “It Ain’t Easy!” To help CI pros with their decision-making, my latest brief The Marketing Technology Buyer’s Dilemma provides advice on how to maintain customer focus while navigating market changes.