Marketing to Marketers – Just Add ICE

GoogleBuyers

The five forces of the Consumerization of Information Technology (CoIT) do not just affect the chief information officer (CIO). The impact of social media, Big Data, analytics, mobility, cloud computing and unified communications will be felt across every business unit and across every enterprise.

However, it is the office of the CMO – the organizational executive responsible for the “front of house” – which will be increasingly exposed to the challenges presented by consumerization. As a result, marketing leaders will face significant new strategic and technology decisions in the next two years.

Outdated theories and metrics, however, frame the practice of business marketing and continue to inhibit the ability of marketers to respond to the rapidly changing consumerized landscape. CMOs need to plan and execute against a new vision of the connected consumer.

The connected consumer, who uses a range of digital and social networking technologies, discovers, debates and decides on purchases in a completely new way. These processes occur almost completely independent of your brand, your communications and the messages they carry. The connected consumer may share your Facebook fan page with friends and buy your products on the way home. She or he may be your greatest critic or your staunchest defender. They blog, tweet, write reviews, self-publish books and hold online film festivals. They are influencers in their own right.

Marketers need to adopt a long-term view that demotes the campaign-based thinking that has dominated the marketing agenda for decades, replacing it with a focus on relationships, value and customer experience.

Companies that are prepared for the future do three things right when it comes to digital marketing. First, they understand the customer journey as a series of flows between touch points over time – and plan and execute their marketing plans accordingly. Second, they understand the power of data and analytics to create a deeper understanding of that customer and the approaches that can deliver customer engagement at scale. And finally, CMOs are recasting the marketing funnel to model and map the customer journey to better direct their marketing investments.

My report into re-casting the marketing funnel for consumer engagement set out the new touchpoints that marketers need to map against their buyers journey. But this, of course, requires an understanding of that journey not from the brand point of view – which is inside-out – but from the outside-in. And this requires additional thought, planning and preparation. In fact, it needs education.

One of the great successes of Google has been it’s relentless focus on technology. This has also been one of its great failings – and lies at the heart of its lack of success with social networking. With search – where Google clearly dominates, they have followed the ICE approach:

  • Interest – create interest and intrigue in the solution by generating immediate VALUE
  • Contextualise – help EDUCATE the audience in this new world by contextualising the old vs new with patterns of user behaviour
  • Evangelise – show, support and evangelise the OUTCOMES of the new behaviour in the new context

Not only have new behaviours emerged thanks to Google search – whole industries have been built, careers have flourished and our personal and professional lives have been shaped in new ways. Except in small pockets, this has not happened with other Google solutions.

But things are slowly changing.

GoogleBuyers The Think with Google website has become one of my favourites over the last year or so. Their recent work on the How to Go Mo website took a huge step in educating and empowering marketers in their quest to understand mobile marketing. And now, this planning tool on the customer journey helps explain some of the complexity around multi-channel / omni-channel marketing, analytics and attribution.

If Google wants to see more marketers getting value out of their digital marketing investments (which is in everyone’s best interest), then more of this work will be required. Having great technology is only half of any answer (or maybe even less). Without the people, you don’t have a party. For that, you need ICE.

The Mayan Apocalypse? No, Just Eloqua’s Early Christmas Joy

OracleExperience

Sneaking a last minute deal in before the holiday break, Oracle announced an $871 million acquisition of marketing automation vendor, Eloqua. Representing a 10x multiple on Eloqua’s annual revenues, it marks the first of what is likely to be a string of consolidations in the marketing technology space over the next 12 months. The deal is expected to close in the first half of 2013.

  • A win for Eloqua customers that comes with a catch . This deal looks set to accelerate the Eloqua solution roadmap with Oracle bringing additional focus and resourcing to solution improvements already slated for 2013. That means that existing customers can more readily tap the customer experience functionality that supports front of house operations through Oracle’s existing sales, service, commerce and social foundations as well as the big data and analytics capabilities that are vital to the digital marketer’s credibility. Many Eloqua customers will have made companion investments in Salesforce and will be keen for ongoing reassurance that integration will continue to be supported.
  • Oracle secure a beach head beyond the IT line of business.The acquisition significantly bolsters Oracle’s marketing credentials – adding mature, cloud based marketing automation capabilities to their Customer Experience Cloud offering. Eloqua’s strength has been its strong connection with the marketing departments at its 1200 customer locations, and this provides Oracle’s sales team with a vital beach head beyond the IT line of business. And with the projected shift of technology budget from the CIO to CMO over the next two years, this will be essential to the longer term success of the Oracle’s Customer Experience Cloud and the previous Market2Lead and Vitrue acquisitions.

Why marketers should care

Marketers have fallen behind in the technology stakes – suffering under the weight of outmoded marketing models and outflanked by their fast moving, tech savvy, connected customers. This announcement brings yet another level of change and signals a new wave of consolidation and innovation that will challenge marketers in the year ahead.

On the positive side, the investment in thought leadership and focus on marketing technology coming from the likes of Adobe, IBM and Salesforce is helping to educate and mature the market. This will not only assist CMOs to formulate business cases and justify technology and skills investment through 2015, it also provides fertile opportunity for the marketing automation vendors like Act-On, Hubspot, Marketo and Neolane.

Where next?

Oracle has thrown down the gauntlet to the other enterprise software vendors. Who will blink first?

The acquisition has revealed a gap in the Salesforce marketing offering. SAP is nowhere to be seen. And Adobe and IBM can no longer afford to sit on their hands. Oracle’s bold move may have brought Christmas early to the team at Eloqua, but does it usher in the Mayan Apocalypse for enterprise marketers or represent a new dawn? 2013 is just around the corner.

Eloqua has released a FAQ and an announcement deck that can be downloaded from their blog.

Reduce Marketing Risk with ADMA’s Compliance Hub

ADMA Compliance Hub

With recent changes to Australia’s privacy legislation, marketers now face a slew of regulatory responsibilities or risk significant fines of up to $1.1 million. Marketers and advertisers have been given 15 months to comply with the recent changes – and the Association for data-driven marketing and advertising (ADMA) has launched the ADMA Compliance Hub to assist in the process.

Part of the ADMA Knowledge Lab, the site contains:

  • News and updates
  • Video and whitepapers
  • Categorised forms, best practices
  • Webinars and guides

ADMA Compliance Hub

Covering a broad range of marketing compliance topics, the Compliance Hub is a welcome resource for time poor marketers. A quick review of the Online, Mobile & Social section revealed checklists for cloud computing, a group buying code of conduct and a model social media policy. And while the data and privacy section is top of mind for Australian marketers at present, sections on competitions, voice and email will come in handy as 2013 marketing activity shifts into high gear.

For companies new to the Australian marketplace, the Compliance Hub will be a welcome resource. Access is available to all advertisers and marketers until February 2013 – and then it will be closed off and available only to ADMA members.