Data Driven V. Predictive Marketing: BEWARE JETSON’S MARKETING!

The Big Willowby: Charlie Tarzian

My son came to me one day in early December and said:  ‘Hey, Dad, let’s get Mom one of those robotic vacuum cleaners.  You know, the ones you switch on and they vacuum your whole floor!’  He could not contain his enthusiasm – this was going to be great – no one would have to vacuum our floors ever again!!!

So we went to Amazon (of course) and two days later our round disc of a maid showed up via FEDEX.

Come Christmas Day, the robot fully charged, off we went to the kitchen to marvel at what was certain to be a life changing event.  We turned it on and put it down on the floor and the vacuum swung into action.  It crossed the floor, sensed it was coming to a wall, made a pivot, chugged in another direction…and got stuck on the slight incline by the fireplace…then stuck again on the floor mat by the stove…then got caught between a chair and a table and went into a break dance that would make R2D2 jealous.

I bring this up because a colleague sent me this little snippet from the website of a Predictive Marketing vendor:

“Predictive Marketing doesn’t need to be a services heavy engagement to get you up and running. With CompanyX (name of company withheld) and our push button integration, we can integrate with your existing systems and build your predictive model in under a day. – See more at: http://www.companyx.com/what-we-offer/#sthash.vBzkU18n.dpuf

There you have it: Jetson’s Marketing – just push our one little button and off you go:  great leads, great meetings, great website experiences – in fact all your marketing/sales problems solved in ‘under a day’.  All that is left to do is fire your staff, except for that one person in charge of pushing the button when you run out of leads, meetings and website visitors.

Look, I know what I don’t know, but I can tell you this: whatever you’re thinking the new generation of transformative marketing is – one thing it isn’t is automated bliss.  It takes a fair sized village to make things happen.  And herein lies the huge disconnect between data driven marketers and the shiny new object called Predictive Marketing.  Data driven marketers know that data can and should be utilized across the marketing/sales continuum – but it is more about data orchestration than anything else.  Therefore, one button, add water and stir does not take into consideration any of the cause and effect across all the communications and transactive channels that marketers rely on.

Marketing is services heavy (sorry, Company X) because at the nexus of MarTech, AdTech and Sales Enablement sits quite a bit of cause and effect.  And unless you aspire and build towards using predictive data to positively impact all channels aligning as one – then what you are predicting is a very small sliver of what could be.  In other words, if the connectivity and synapsis among outward facing channels are not orchestrated and optimized using predictive data and you are not feeling good that all channels are working in sync – then how can you predict a scaled outcome?  The predictions you are making will reflect a small percentage of the whole – and so instead of widening your funnel and increasing your opportunities along every step in a buying journey, you are narrowing that funnel based on a flawed assumption that you are predicting against a full boat of reliable data.

On the other hand, Data Driven Marketing  sets up to be based on solving for the cause and effect of what is less than optimized (can anyone say, broken?)  It attempts to determine (not predict) what works and doesn’t and then – as a village – cohesively knits together a response to results that can be repeatable but certainly is not a just add water, one button pushed result.

So – are we starting to see a difference:  Predictive Marketing – a push button approach to a complicated set of executional events and response, or, Data Driven Marketing – a human driven (sorry robots!) approach to the cause and effect of humans communicating to other humans about things that may or may not be important to the recipient (we always hope for the former)?

What do you think?  We would love to know.  Have any stories to share – we would love to hear from you.

by: Charlie Tarzian, Founder, The Big Willow

CMO Council: Marketers are struggling with Customer Engagement – Thunderhead

imgresBlog summarizing the CMO Council new report on the good, the bad and the ugly of how marketers feel they are coping with improving customer engagement

Source: CMO Council: Marketers are struggling with Customer Engagement – Thunderhead

3 Steps to Make Your Business Data Work for Everyone | by Marius Moscovici

b2c_fbOver the past decade, advances in cloud technologies and big data created room for more data scientists in business. At first, specialists seemed like the proper solution — give the best data scientists access, and let them tell the rest of us how to use it.

Unfortunately, funneling data through a few individuals creates over dependence on already overworked specialists and prevents the rest of the company from using the data as effectively as possible. The data scientists might be able to understand the data better than anyone else, but there will never be enough data scientists to go around.

Spread the Data Around

Asking data scientists to act as intermediaries between your other employees and needed information bottlenecks their creative exploration, and it makes average business users wait longer than necessary for answers. As data analytics spending increases, companies need to make the most of the information they already have.

Think of data as a buffet: If you let only three people eat from the buffet and give everyone else ham sandwiches, you’re not making the most of your resources. You want everyone to eat from the buffet — the food is more useful, a bigger variety is consumed, and everyone gets exactly what he needs.

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Growth Marketing Tactics for 2016

In a perfect solution, users can access the data they need to be more efficient, while data scientists enjoy the freedom to address more complex functions. Following these three simple steps will help everyone in your business use data to its full potential.

1. Add a Push Intelligence Layer

Push intelligence uncovers anomalies in data and alerts users when necessary. If something in your company’s data is changing, you want the right employee to know what it is and what action to take without having to sift through complex piles of data to find out.

2. Educate Employees

The more information employees have to keep in mind when working, the more complex their jobs become. Your employees need to understand the importance of using data effectively and being part of a data-driven business.

3. Use the Right Tools

Look for vendors and tools that can help your business digest data and present it to the company in a shareable, understandable format. The best business intelligence software marries modern BI functions with social aspects to engage employees.

The more efficient your use of data, the better collaboration you will see among team members as everyone gets access to information in real time and makes educated decisions as a cohesive unit.

Your software needs to support everyone in your company, not just a small percentage of specialists.

Sourceb2c_fb

 Written by: Marius Moscovici

Marius Moscovici is the founder and CEO of Metric Insights. He founded the company in 2010 to transform the way business intelligence is performed so organizations of any size can quickly and easily deploy powerful analytics. Marius has over 20 years of experience in analytics and data warehousing and was previously the co-founder and CEO of Integral Results, a leading business intelligence consulting company that was acquired by Idea Integration.

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The Best BPM Platforms for Digital Business

In the last quarter of 2015, Forrester Research identified Pegasystems, Appian, and IBM as leading the field of suppliers of business process management platforms for today’s digital business.

This post focuses on the value that Pegasystems delivers to today that is transforming how their clients engage with their customers throughout each stage of engagement.

photoSource: Pega.com The complexity of today’s business makes it hard to truly know a person across marketing, sales and service. There are too many customers, too many permutations of what they need and too many obstacles. Your customer base has grown, and so has your need for more sophisticated technology that not only understands prospect and customer demands but also helps accomplish your business objectives. Initially, your systems did what you needed: track customers and help you market and sell to them. But as your enterprise acquires companies and systems, technology becomes a barrier to how you engage with customers — across departments, time zones and geographies. Complexity has also brought inflexibility, making it hard for systems to adapt to changing needs, changing markets and changing regulations. It also makes it difficult to train employees because they’re battling systems, not servicing customers..Click here to read more.

The 8 white boarding videos that follow will help you visualize the unique value that Pega is delivering value today to their clients customer engagement management initiatives around the customer experience…

Build for Change: Directly Capture Objectives (DCO)

With Pega 7, you capture the policies and procedures that define your business – including rules, data models, UIs, integrations, reports, and organizational structures – in the model. Pega 7 automates the code generation. As the requirements change, a change in the model equates to an immediate system change.

Build for Change: Situational Layer Cake

Situational Layer Cake™ (SLC) architecture enables organizations to differentiate, specialize, and reuse their business applications. Pilot projects can grow into enterprise transformation programs overnight. Instant reuse dramatically accelerates the time to value for organizations seeking to be more agile in response to changing market and regulatory demands.

Build for Change: Case Lifecycle Management™

When a business person starts explaining their needs for an enterprise, they don’t generally dive into process details. And they certainly don’t describe “transactions.” They think in terms of the case and its stages. Rather than drawing an end-to-end process, Pega 7 provides tools for business people to define the major steps of how work gets done – essentially building the skeleton on which you hang the more detailed process. You establish a business view of the data before debating the details.

Build for Change: Mashup

Traditional service or API-based architectures result in hard-coding the UX logic into each channel independently. Process changes must therefore be made in multiple places, making it impossible to deliver a consistent customer experience. By embedding the Pega UX directly into the mobile or web channels, all of the intelligence and capability of Pega 7’s Case Management is brought directly to the customer touchpoint.

Build For Change: Omni-Channel UX

Pega’s Omni-Channel UX delivers an optimized and consistent user experience in every channel. Learn more at http://www.pega.com/platform

Build For Change: Event Strategy Manager

Pega’s Event Strategy Manager gives you the tools you need to turn streams of customer data into valuable business decisions and actions. Learn more at http://www.pega.com/platform

Build for Change: Pega Live Data

Pega Live Data allows users to quickly and easily define the data required to build the apps they need, and then access that data in their running application – all without having to worry about how and where the data is actually stored and accessed.

Build for Change: Next Best Action

The real value from Big Data and analytics comes when every customer conversation delivers exactly the right message, the right offer, and the right level of service to both give the customer a great experience and maximize the customer’s value to the organization. With Pega’s Next Best Action, business experts develop decision strategies that combine predictive analytics,
adaptive analytics, traditional business rules.

 

The Forrester Wave™: BPM Platforms For Digital Business, Q4 2015

Key Takeaways: Pegasystems, IBM, and Appian lead the pack

Forrester’s research uncovered a market in which Pegasystems, Appian, and IBM continue to lead the pack. Software AG, Oracle, Newgen Software, OpenText, Bizagi, K2, and DST Systems offer competitive options. Red Hat and TIBCO Software lag behind. The BPM Platforms Market Is Growing As EA Pros Accelerate Digital Transformation The BPM platforms market is growing because more EA professionals see BPM as a way to address emerging challenges for customer experience and digital business. This market growth is, in large part, because EA pros increasingly trust BPM platform providers to act as strategic partners, helping them transform how they use technology to win, serve, and retain customers in the digital age. Differentiators Include Rapid Development, UX Design, And Case Management As legacy BPM technology becomes outdated and less effective, improved delivery speed and process flexibility will dictate which providers will lead the pack. Vendors that can provide fast ramp-up, flexible mobile experiences, and dynamic case management position themselves successfully to deliver speed and business agility to their customers.

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The Importance Of Asking Questions | Ogilvydo.com

“He who asks a question is a fool for five minutes; he who does not ask a question remains a fool forever” – Chinese proverb.

What’s the one thing that the world’s leading innovators share with children? They both learn through asking questions. It’s the simplest and most effective way of learning. Yet somehow we have forgotten this lesson as we get older. We just don’t value questioning as much as we should.

Not asking good or even enough questions has a direct impact on the quality of choices you make. Habituating the art of asking questions enables you to gain deep insight, develop more innovative solutions and to arrive at better decision-making.

Brilliant thinkers and scientists never stop asking questions. “Asking questions is the single most important habit for innovative thinkers,” says Paul Sloane, the UK’s top leadership speaker on innovation.

  • Newton: “Why does an apple fall from a tree but, why does the moon not fall into the Earth?”
  • Darwin: “Why do the Galapagos Islands have so many species not found elsewhere?”
  • Einstein: “What would the universe look like if I rode through it on a beam of light?”


Asking these kinds of basic questions started the process that led to their great breakthroughs. And asking questions is as relevant today. Only by constantly asking why can you find better products. In his book “A More Beautiful Question: The Power of Inquiry to Spark Breakthrough Ideas”, Warren Berger cited the example of Edwin H. Land, who invented the Polaroid camera in response to his 3 year old daughter asking why the camera that they used couldn’t produce a photo immediately. There are plenty of other cases; Airbnb exists as a response to the question “why should you be stuck without a bed if I’ve got an extra air mattress?”

The list is endless, as many companies and even entire industries can be traced back to a single question.

How do we master the art and science of asking effective questions and how do we make it a habit?

  1. Create an environment where curiosity is welcomed and rewarded.
  2. Become a keen observer of everything you see, hear and experience.
  3. Look at the world with fresh eyes, question the familiar, assume nothing is obvious.
  4. Understand the power of different types of questions – how they should be used and when.
  5. Keep asking why till you can go no further.

“Good questioning should stimulate, provoke, inform and inspire” says Sloane, while Berger feels it can “help us learn, explore the unknown and adapt to change”. What could be a great question that could shift the way you or your organisation perceive or think about something that has the potential to act as a catalyst for change?

Source: The Importance Of Asking Questions | ogilvydo.com


Mobile online checkout and AI to be front of mind in 2016: Deloitte | ZDNet

mobileMobile online checkout and cognitive technologies are set to boom in 2016, according to the latest predictions made by Deloitte.In the Technology, Media & Telecommunications 2016 report, Deloitte believes the number of individuals who use a third-party touch-based payment service to make a purchase on their devices — which covers both smartphones and tablets — will increase by 150 percent to reach 50 million regular users.

Source: Mobile online checkout and AI to be front of mind in 2016: Deloitte | ZDNet

Marketo’s CMO on the new future of digital marketing

marketo_cmo_illoMarketo CMO Sanjay Dholakia puts the current — and future — state of marketing into perspective.

The scene: A smoke-filled room clamors with anger, frustration and optimism as men in earth-tone suits and skinny wool ties debate — from art to copy to product placement — the best ways to sell dishwasher fluid. At long last, they agree, clink their glasses of brandy and set a plan in motion for six months down the road.

That’s marketing in a nutshell, right? A closed-door, one-size-fits-all operation that moves at the speed of molasses.

Well, let’s just say that picture is a little outdated. And not just because of the outfits.

Today, technology plays a massive role in marketing strategy and execution: Automation has turned guesswork into a precise science and months of planning into nanoseconds. Companies like Marketo are leading the way in marketing automation technology, pushing boundaries and helping CMOs everywhere embrace the future.

Of course, this is pretty complex stuff. So we had a chat with Marketo CMO, Sanjay Dholakia, to put the current state of marketing — and the future — into perspective.

Source: Marketo’s CMO on the new future of digital marketing

The Ecosystem CMOs Need To Build Now – CMO Nation

The marketing world has undergone a dramatic shift: digital now touches nearly every customer interaction. Marketing has become a technology-powered discipline, with the two areas so interwoven that chief marketing officers are projected to spend more on technology than chief information officers by 2017.

The rise of digital has led to the emergence and explosion of marketing technology (MarTech) applications and platforms. Marketers can now collect and analyze large and disparate volumes of data—and make their insights actionable with a degree of precision just years ago was only a dream. This gives more power to the CMO, who constantly aims to address the basic question of marketing: how to engage and acquire customers for the long term by making engagement and acquisition more attainable and measurable.

Source: The Ecosystem CMOs Need To Build Now – CMO Nation

2016 Marketing Requires High Quality Data

Do Your 2016 Marketing Resolutions Include Achieving High Quality Data?

58% of marketers cite personalizing the customer experience as the most important objective of a data-driven marketing strategy, yet 57% say that improving data quality is the most challenging obstacle to data-driven marketing success. Data quality issues have challenged organizations for years, but it has now become a huge issue and responsibility that is impacting every area of marketing.

Source: 2016 Marketing Requires High Quality Data

Facebook Stats that Every Social Marketer Should Know

With over 1.23 billion active users (including 71% of online adults in the United States), a 94% increase in shared content since 2012, and enough spending money to buy several small countries, it’s clear that Facebook isn’t going anywhere soon. Smart marketers are already using Facebook’s impressive reach to their own advantage, but the network is still relatively new and constantly evolving. It’s hard enough to keep up with Facebook’s changing algorithms – how can marketers be sure they’re using Facebook strategically, not just “marketing at random”?

In addition to arming yourself with a rock solid social media tactical plan (click the link for a comprehensive sample plan, including high-level objectives and granular action items), marketers need to approach their Facebook strategy with the most up-to-date insights and stats.

How can you be sure you’re using Facebook strategically? Check out stats from TrackMaven’s new report, The Marketing Maven’s Guide to Facebook.

Source: Facebook Stats that Every Social Marketer Should Know