The current pace of change and innovation within the marketplace is verging on a revolution. On the one hand, digital disruptors are challenging existing business models and engaging customers in new ways. While on the other increasingly empowered, savvy consumers expect a seamless brand offering across an ever-growing range of channels.
With this in mind, it is no surprise that customer experience, digital transformation, and data intelligence are of top priority. Indeed, both digital transformation and data intelligence are central to creating a customer-obsessed model, something which is particularly important as in this ‘age of the customer’, arguably the only competitive battleground left is customer experience.
Of course, technology is the life-blood of modern marketing and, as such, goes hand-in-hand with ambitions to implement a customer obsessed operating model. However, this in itself raises challenges. Just as the marketing and data landscape is evolving at a rapid pace, so too is the technology to enable it. The market is in a period of hyper growth.
In addition, as marketing becomes an increasingly technical function, new skills are required, which have not traditionally been part of a marketer’s core skill-set. This in itself leads to another challenge – that of breaking down internal silos and working more closely with IT.
All too often, marketing, digital and data are seen as departmental issues, when, in fact, they are enablers for every part of the business. While only one part of a bigger picture, marketing, and data technology have a very important role to play in overcoming the above challenges.
When implemented and integrated correctly, marketing and data technology have the potential to drive digital transformation, enable business intelligence, allow organisations to become truly data led and ultimately transform customer experience for the better.
However, marketing and data technology implementation all too often does not deliver the benefits it should. Recent research from Oracle found that only 8% of those questioned felt that marketing technology had been implemented well. 40% did not think technology had been implemented even partially well and 40% were unconvinced by marketing technology’s benefits.
With this in mind, what can organisations do to ensure marketing and data technology success?
1. Don’t start with technology
Understanding how your customers interact with your brand, how they will in the future and what disruptions in the market might change this relationship are key to mapping customer experience.
2. Conduct an audit
Before purchasing any new technology, organisations first need to fully understand current systems, as many already have multiple systems in place that are not being used properly. By closely examining current marketing and data architecture, and the way in which systems, tools and data presently connect, organisations can gather a clearer idea of where there is a genuine need for new technology, as often organisations get as much value from using its current system better, than putting a whole new technologies in place.
3. Choose the right technology for your needs
There are more marketing and data technologies available than ever before. Having the skills to know which technology will not only deliver results for your specific needs, but also fit with your existing systems, is vital. Niche expertise and experience is required for this, however this is not commonly found within in-house marketing and IT departments, so seeking independent, expert advice can save considerable time and money.
4. Keep it agile
Do not make the mistake of rushing and not effectively managing expectations across the business, as this often means new technology is viewed as a failure if it does not deliver quickly. The key is to carefully balance the adoption of the technology with what you’re trying to achieve, in order to bring greater value in the longer term.
5. Choose your team wisely
Having a tight, expert team is the difference between success and failure. This is especially true in terms of integrating new technology with existing systems. If new technology is not integrated correctly, then adoption rates are likely to be low, it will be perceived badly and ultimately it will not provide the required return on investment or solve the issues it was brought in to address.
All too often, we see organisations either rushing to buy marketing and data technology, or investing in new technology, which then does not deliver on its promise or expectation. They are all driven by a desire to stay one step ahead of the competition and carve out an advantage in an increasingly crowded and fast-paced environment.
In order to really unleash the potential of marketing and data technology organisations need to shift their mindset. This is not an easy task, but with access to the right skills and expertise, it is achievable.
By Daniel Telling, managing partner at Bench
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