Would you classify your marketing organization as "highly accountable"? What I mean is, are you always able to accurately measure the true business value of your marketing efforts, and do your senior leaders trust the results? If you're like most marketers, the honest answer to that question is a resounding "no". Proving the business value of multichannel marketing is getting progressively harder—and more important—because:
Traditional marketing measurement practices are rooted in stable but inflexible tactics that leave marketers ill-equipped to keep pace with the real time nature of channel digitization.
CFOs wield ever-more influence over marketing budgets, which is driving your CMO to lean harder on you to measure business results with scientific rigor.
Your customers are in control; uncertainty and unpredictability are the norm; and marketers that can't adapt appropriately are doomed to fail.
This is where you come in. I believe that Customer Intelligence professionals are remarkably well positioned to address these challenges head on, and improve marketing accountability across the enterprise. Why? Because you sit at the cross-section of unfettered access to mountains of customer data from a dizzying array of online and offline sources. "Big data" as the recent article data, data, everywhere in The Economist puts it, is big business. CI professionals are right in the middle of it all helping firms capture customer data, analyze it, measure business results, and act upon the findings.
Coming to you live this morning from the kick off keynote of the Adobe (nee Omniture) Summit in Salt Lake City. And I'm pleased to report that so far the event is as thumping and hued in neon green as in years past.
A nice change from past summits: Instead of discussing developments to Omniture's online marketig technology, today's Omniture keynote by Josh James is themed around "The New Principles Of A Successful CMO." These are Josh's principles for how marketing execs can succeed.
Target is now allowing gift cards to be loaded onto an online account that can be accessed from your cell phone. You can actually pay for stuff with your cell phone. Yay! See Target's press release.
I know they aren't the first. Many versions I've seen before, however, have been small scale pilots or in foreign countries. Many scenarios I've seen also are "closed" pilots among the 3-4 parties in an ecosystem that it took to string a trial together. Target has 1740 stores ... there's a bit of scale in this solution.
So, how does it work?
First, you buy a gift card. I bought the one with the cute Target dog.
Then you pull the sticker off of the back so you can see the codes. I purchased a $20 gift card.
Instructions for using mobile gift cards as well as promotions are on Target.com. Using their available media - Web site - to promote the new offer? Well done.
Interestingly though, this site ONLY had instructions for the mobile gift cards. I couldn't find a link on this site to regisiter my mobile gift card. This confusion for me is probably the only thing I could find to "ding" them on, so to speak. I'd expect that one of their next rounds of Web site updates would add this link.
I've had the opportunity over the past year to work with a lot of banks and credit unions, insurance providers, and investment management firms. Marketers at financial services companies face a number of challenges other marketers don't -- most importantly, confusing and often ill-defined government regulations -- but yet I've been impressed with the social media efforts I've seen from many companies in this category.
I've decided to research and write a report on how financial services marketers can most effectively use social media. We'll be including lots of our data on how different types of financial customers engage with social media, of course -- but I'd also like to collect more insight from the marketers' perspective.
If you're a financial services marketer, and you're willing to walk us through examples of how you've used social media, talk to us about how you manage risk and work with your legal and compliance departments, and share with us some of the lessons you've learned in social media marketing, then we'd love to talk to you. You can contact me directly at: nelliott at forrester dot com. Thanks!
I give my colleague Charles Golvin credit for finding this article on the official Google blog. I'll be working on a report on the intersection of social and mobile in early 2010 so please send me more examples if you have some. I'm especially interested in the role of social/mobile in the Retail environment.
Google is mailing out storefront window stickers to 100,000 local businesses in the US. (see their blog post for complete information). If you have the right type of phone and supporting software, you can take a photo of the code on the sticker (see below) and you'll be taken to that business' PlacePage on the Web. The service will show available coupons, allow for ratings, get reviews, etc.
Here is their post on the applications that work with the service:
As a Forrester analyst I get to work with a fantastic team of researchers – including Tom Cummings, who contributes some great work to our research on social media marketing and a wide range of other topics. Below, Tom discusses a piece of research we collaborated on, covering how marketers are using Twitter:
Many innovative start-ups have pioneered mobile social networking in the last few years: BuzzCity, Peperoni, Fring, Nimbuzz, eBuddy, Zyb, Plazes, Loopt, Foursquare and many others demonstrated the potential of the market.
In the last few months, a bunch of announcements clearly showed that the convergence between mobile and social computing is gaining traction and attracting the largest stakeholders: