“Introducing: Digital Directive Benchmark and Roadmap” by Jeremiah Owyang https://link.medium.com/cAzkAJ3UO0
“Introducing: Digital Directive Benchmark and Roadmap” by Jeremiah Owyang https://link.medium.com/cAzkAJ3UO0
Marketing Automation is a software platform that lets you reach out to your target audience across multiple marketing avenues such as websites, email, and social media by automating and streamlining marketing activities and workflows to bring in more leads and revenue.
Whether you are a marketer working at a startup or a corporate giant, you’ll agree that generating and nurturing leads is not easy. The buyer journey is no longer a straightforward phenomenon. Its complexity increases as new marketing channels are introduced. In fact, Salesforce has identified that it takes approximately six to eight touches to generate a sales-ready lead.
Marketers have to juggle between multiple tools and software suites to communicate with their audience, identify and generate leads, nurture them, and pass the sales-ready leads to the sales team. This switch-tasking is not productive. Also, if you keep adding new tools to your MarTech stack, it will eventually lead to the dreaded frankenstack phenomenon and leave you overwhelmed.
To be efficient, you need an application that allows you to engage with your audience across different channels through a single suite of applications.
Enter Marketing Automation!
Marketing automation is software and technologies that help marketers reach audiences across channels and automate tasks such as organizing, streamlining and measuring analytics.
Different companies define marketing automation differently depending on their set of offerings, but Marketo perfectly sums up the essence of marketing automation in their definition:
Marketing automation is a category of technology that allows companies to streamline, automate, and measure marketing tasks and workflows, so they can increase operational efficiency and grow revenue faster.
Marketing automation helps marketers segment their audience, generate and nurture leads, identify the most valuable leads (lead scoring), and retain existing clients by identifying upselling and cross-selling opportunities.
Your customers interact with you across multiple avenues including website, social media, mobile apps, and emails. This gives you plenty of data points that can be used to identify the needs and habits of potential customers.
By integrating with other tools from your MarTech stack, such as your Customer Relationship Management (CRM) or customer service platform, marketing automation provides a cohesive view of your audience and enables you to create more refined segments, craft highly targeted messaging, and guide your leads through the marketing funnel. It doesn’t matter how many leads you have, marketing automation is capable of processing all this information at scale.
Integrating a marketing automation solution with your MarTech stack can result in the following benefits to your organization:
Thank you and with attribution for this graphic goes to http://www.filterdigital.com with this graphic.
It’s part of an effort from Amazon to give more information to sellers using its third-party seller platform, Seller Central. The company noted some of these moves in a news release Tuesday that highlighted newly launched Amazon Brand Analytics, including insight on popular search terms and comparable products; a promotional Fulfilled by Amazon monthly storage and removal fee waiver; personalized guidance on how to sell globally, and educational tools for sellers. Kiri Masters, CEO of Amazon agency Bobsled Marketing, said news of the move emerged on a from a seller late last week; Amazon confirmed to Digiday that demographic analytics were made available to sellers in the U.S. last Thursday.
According to Amazon, Amazon Brand Analytics, including the customer demographics report, is available to “eligible brand owners” who are enrolled in Brand Registry. Currently, the feature is only available to sellers who own a brand or who serve as an agent, representative, or manufacturer of a brand.
For third-party sellers on Amazon, unlocking free customer demographics information addresses one of the biggest pain points of selling on Amazon’s marketplace: limited access to customer data. While brand analytics offer information about keyword searches, how popular keywords are, click and conversion share, information about who customers were was virtually nonexistent before, said Ryan Williams, director of finance for Rise Brewing. With limited customer data, it’s been challenging for many Amazon sellers to market to customers and would-be customers who peruse or buy items via Amazon.
The insights acquired from the demographics tool will have an impact on broader marketing strategies that go beyond Amazon, said Williams, who said he began accessing the feature on Tuesday.
“This really helps with your marketing strategy, not just on Amazon but outside of Amazon as well,” said Williams. “We’re constantly asked by investors who we should focus on, and beyond Google Analytics, those questions are not always easy to answer.”
For Brian Hemmert, chief marketing officer at Fat Snax, the added insights are a positive move from Amazon, but not enough to abandon growing Fat Snax’ own e-commerce site.
“It’s still crucial to have our own direct channels through our site,” he said.
Twenty-two percent of 73 marketers surveyed by Digiday this April plan to move work rom agencies to consultancies.
Agencies working with Amazon, however, say the motivations behind the new analytics tool aren’t only to benefit smaller sellers. Amidst recent reports that Amazon wants to move some sellers away from the wholesale platform to Seller Central, agency executives say what’s at play is a strategy to promote Seller Central by giving third-party sellers access to data they would have to pay for if they used Vendor Central. Brands that sell through Vendor Central have to pay for demographic data as part of a subscription to Amazon Retail Analytics (ARA) Premium, which can reportedly cost as much as $30,o00 per year (ARA basic, which is free, offers reports on business metrics including sales and inventory levels). But according to the company, brand analytics are less relevant to the vendor model since Amazon is handling the listings.
“I don’t know if I would characterize it as a win — it’s an incentive for larger sellers to move to Seller Central,” said Fred Killingsworth, CEO of Amazon-specialized agency Hinge, who added that moving more sellers to Seller Central lets Amazon divert resources from seller relationships within Vendor Central. “Amazon is a tech platform; the vendor relationship requires a lot more humans to be involved in the process, given expectations Amazon is going to provide help.”
Meanwhile, additional analytics are a powerful tool to justify additional investments in Amazon’s advertising platform.
“With brand analytics, the new demographics that came out in the past few days are a case for more ad spend on Amazon,” said Masters.
Twelve days ago, Shopify, the Canadian ecommerce platform underpinning thousands of brands, announced a series of changes to its partnership program and API access that has serious implications for its partners and merchants. It was also announced that Mailchimp is leaving Shopify’s marketplace, causing even more concern.
“I’m not surprised to see this happen where Shopify wants to protect their merchants and the data that flows through their platform,” said Casey Armstrong, CMO of Shipbob, a fulfillment company. “They need to protect competition across the board.”
The language dictating what agency partners can and cannot do is worrisome for some, considering agencies work with a variety of merchants and platforms—including competitors to Shopify.
“Shopify’s a platform and ecosystem that is open and operable,” said Satish Kanwar, vp of product at Shopify. “For us, it’s about valuing the integrity of our policy and our data. Preventing bad faith actors in the ecosystem. We don’t have any concerns when we have other partners that work with other ad partners. That’s a natural part of how commerce and the ecosystem works but it’s really about the intentions about how the information flows.”
Merchants will most likely use other ecommerce email marketing platforms like Klaviyo and partners will likely comply. Instead, these new terms show that Shopify is locking up its ecosystem to maintain its growth, amass more data and flex its imaginary muscles to growing competitors like BigCommerce, Webflow and yes—Mailchimp.
“These partner agreements are not that substantial and there’s no legal precedent,” Poma said. “No consequence unless the Shopify relationship is very important to you and if you plan on soliciting.”
Armstrong added that it’s just keeping partners on a closer loop.
“Often times, the agencies are the trusted third party with any re-platforming conversation or technology decision,” Armstrong said. “Keeping these partners tightly woven into the Shopify ecosystem is key to them building their moat in both the immediate and long term, plus these partners often rely on Shopify returning the favor.”
As for the data change, it makes sense considering the growing privacy concerns happening across all types of platforms, whether it’s GDPR enforcement rules or the growing amount of data breaches. Ryan Kulp, founder of Fomo, a marketing SaaS product company, said the change protects the customer and that it was time for Shopify to implement it.
“The most aggressive new change is ‘sending data back to Shopify,’ but the specific fields in question are logical: first name, email, etc,” Kulp said. “And sending this information back actually benefits the store as well, because if an app keeps all end-shopper emails but then the app is deleted, that store is now unable to send messages to their own customers. I can’t imagine any honest app developers wanting to create this scenario. Just send the basic data back and let the Shopify store be your ‘source of truth.’”
This now brings us to the controversy surrounding Mailchimp. On March 22, Mailchimp wrote a blog post stating that it asked Shopify to remove the Mailchimp integration from the Shopify marketplace. Mailchimp’s reasoning behind the move was due to the new term requiring partners to send back any data collected “on behalf of the merchant” back to Shopify. According to Joni Deus, director of partnerships at Mailchimp, that data (in Mailchimp’s eyes) doesn’t belong to Shopify.
“We got permission from that user to have it within our Mailchimp platform and they wanted that retroactively,” Deus said. “The data sharing agreements in those terms go against data privacy expectations.”
Shopify then issued its own blog post response as to why the partnership ended, further stating that Mailchimp’s refusal to hand over the data meant merchants and others on the Shopify platform “can’t reliably serve their customers or comply with privacy legislation.”
However, industry sources think all of these changes—including Mailchimp and Shopify breaking up—were a long time coming.
Mailchimp’s made a series of moves signaling it’s intending to build its own ecommerce platform. Two big changes include Mailchimp partnering with Square to create shoppable landing pages (a landing page merchants can use to sell a single product) and hiring former members of LemonStand, an ecommerce company that’s fully shutting down on June 5.
The move however makes it a ripe time for other partners like Klaviyo, another email service provider to step in and fill in the hole for Mailchimp. Or, as Deus said, companies can also use a third-party integration like Shopsync or Automate.io to still utilize Shopify and Mailchimp.
However, these moves are part of Shopify keeping up with competition and retaining its leadership as an ecommerce platform. Competitors like BigCommerce and Webflow are picking up bigger clients and just last week, Square also announced an overhauled version of its Square for Retail option and a new product called Square Online store. Both leverage Square’s acquisition of Weebly last year and giving merchants more of an ability to bridge their online and offline channels.
For now, Shopify remains a leader (the company posted $1 billion in revenue last year) but it’s unclear for just how much longer.
By Thank you Ann-Marie Alcántara
Posted: 17 Sep 2018 03:59 AM PDT
The following is a guest article by Donny Dvorin, general manager of Never Stop Marketing Research, a leading analysis and consulting group focused on blockchain martech providers. Jeremy Epstein, the CEO of Never Stop Marketing, will be keynoting the MarTech conference this October 1-3 in Boston.
It was clear to anyone who attended one of the many talks — or screaming matches — touching on blockchain at Cannes this year that a major technology debate around the future of how advertising will look is gathering steam.
Can blockchain technology really bring long-awaited solutions to longstanding issues including lack of transparency, fraud, consumer privacy, fractured measurement, and slow payments?
There are passionate believers and doubters on both sides, and the stakes are high enough that seasoned professionals are losing their cool. What’s a marketer to think?
The key, at least for now, is patience. Calling a winner in the first inning of the game is pure speculation, and we’ve barely seen the first pitch.
Think of it like this:
It’s as though, suddenly, a new kind of computer has been invented, with fundamentally different rules, and immense promise. Early prototypes have been built, and they’re really good at doing certain things that other computers simply couldn’t accomplish. The plans are open source, and companies are starting to build prototypes and solve problems with them.
However, the majority of what’s been built to support normal computers doesn’t work with this new kind of computer, so a lot of infrastructure has to be rebuilt. It’s reminiscent of exactly 10 years ago on July 10th, 2008 when the iPhone App Store launched with 500 apps. Today, there are 2 million available apps, with over 180 billion downloads to date, per Statista.
Most of the companies/projects on Never Stop Marketing’s Blockchain MarTech Landscape are under 18 months old. The majority of these companies are building their tech and connecting the ecosystem’s pipes, while others already have pilots with brands in market, but have yet to go public in the trades.
There are approximately 200 martech companies claiming to use blockchain technology to help solve marketer’s needs. Of those 200, 48 (or 24%) are specifically focusing on programmatic media and adtech.
The issues these blockchain adtech companies are tackling are coming into focus now:
1. Transparency into the Media Supply Chain
P&G’s CMO Marc Pritchard must have launched at least a few companies with this quote: “We have a media supply chain that is murky at best and fraudulent at worst. We need to clean it up and invest the time and money we save into better advertising to drive growth.” Pritchard described standards compliance, unreliable measurement, hidden rebates and fraud as major challenges.
Juniper Research reports that in 2018 advertisers will lose $19 billion to fraud. Additionally, according to a TBR study reported on MediaPost only 40% of digital media is going towards “working media” with the remainder split between agencies and technology vendors. In other words, when a marketer places a digital media buy of $1 million, $300,000 (or 30%) can go to the adtech tax in the ecosystem.
Many of the blockchain solutions in the marketplace aim at creating transparency, including:
Transaction Speed: One project providing transparency that’s laser focused on transaction speed required for programmatic media:
Fraud Mitigation: A few of the companies are primarily focused on fraud, in addition to transparency:
2. Data Privacy
This spring GDPR and the Facebook Cambridge Analytics scandal have shone a bright light on data privacy practices within marketing. Not only are consumers demanding their data stay private, governments and now states (CA) are as well.
Each marketer must also analyze their own challenges as they relate to data privacy. Solutions include:
3. Payments & Settlements
Payment terms are an enduring thorn in the sides of many industry players, especially those in the middle and on the publisher end. Long payment terms “are a tax on the industry for technology companies that are responsible for programmatic transactions,” as Rubicon Project CEO Michael Barrett has said. “For brands that are ready to create a more profitable supply chain, offering better payment terms could be a huge incentive for wary technology companies to become more open with their tactics and streamline their business model, saving brands millions in the process.”
4. Putting Consumers First
For the most part, outside of coupons and rebates, consumers haven’t been rewarded for their attention. Due to token economics, consumers can be rewarded in tokens for the actions they take. A few of the companies who incentivize consumers, or allow them to use their tokens to pay publishers include:
While these use cases are first at bat, this early in the game we can expect many more to appear for their turn as the technology and infrastructure develop. Overall, look for solutions that create value by creating trust where there was none before, or by eliminating players who extract rent in exchange for trust.
Marketers must be very clear on the problems they are trying to solve and what their business objectives are to play in this space. In some cases, a non-blockchain solution may solve the problem, but in others blockchain technologies may be the only path.
Don’t miss Jeremy Epstein’s keynote presentation at MarTech, “The Emergence of Crypto-Native Martech: Tools of the Future, Already Here Today,” in Boston, October 1-3.
The post 22 blockchain-based adtech/martech companies you should know appeared first on Chief Marketing Technologist.
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September 17, 2018 at 05:57PM
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