How Aussie CMOs Can Navigate The Next Digital Wave (And Combat Amazon)

How Aussie CMOs Can Navigate The Next Digital Wave (And Combat Amazon)
SHARE
THIS



In this opinion piece, Camila Lima (pictured below), head of production marketing at Invigor Group discusses the importance of CMOs using data-driven, customer-centric strategies to keep local brands competitive against the rise of digital giants such as Amazon.

Camila Lima

As the definition of customer centricity is evolving over time, it is imperative that Australian brands consider how they can navigate the next wave of digital with customer-centric solutions.

With the technology readily available, customer expectations upon brands have increased and the pressure to outperform competitors getting more intense. The connected consumer has expectations like never before, and this presents a unique challenge to brands to be immediately responsive and omnipresent to their customers’ needs across multiple platforms.

Customers now have an expectation they will not be addressed in mass communication, but rather with an assumption that their individual needs, buying habits and inclinations are going to be addressed. Equally, so has the approach to meeting them through utilising data which helps shape the marketing campaigns for beloved Australian brands. When we watch Beerenberg launch new look labels, or Allen’s bring back Green Frogs, there is a case to be made that every pivot is based on data assessed about their customers. For many retailers, this honed-in approach may seemingly be reserved for brands with huge marketing budget, but the reality is far more accessible.

It is time to re-educate Australian retailers that the opportunity to adopt the technologies and practices that players like Amazon use are available. Particularly with bricks and mortar retailers, the focus on aggregating data-driven strategies will be not only the way to sustain operations, but to compete effectively.

Brands need to be ready to embrace solutions that allow more insightful decision-making, and integrate the frameworks that make this possible. Tools that are based on accurate, real-time data which provides actionable insights derived from multiple data types and sources. It is also time that brands utilise machine learning algorithms for real-time insights and predictions over time to allow for improved operations, increase of profitability and scalability.

These are not just mission statements for a strategic direction report, but brands need to understand what the difference is between digital transformation, data consolidation and analysis. Big data has been around for years now and many retailers still haven’t solved that puzzle. We know that having huge amounts of data sets can be valuable, combining data sets even more so, then applying prediction, machine learning, and of course, human analysis and opinion to the data now gives it a three-dimensional feel and practical application.

We need to ask how Amazon is doing it, and why can’t every Australian retailer do it?

Retailers should be seeking to partner with those who can help them fully understand their customers. For CMOs entering this space, such a commitment to data can be daunting, but like any relationship, once finding a suitable data partner (which there may be many fine suitors), it’s a two-way street. The technology is now at the level where it is functionally robust enough to work across industry and now cheap enough that anyone can use it. The issue this can create is where to start, with who and how?

What expectations should CMOs have on themselves? What plans are they putting in place to utilise the mass of data they have available to them? And how can they deploy predictive marketing and stay ahead of the competition? It should be more than managing a social media strategy or working out your cost per acquisition. It must be about having a full grasp of who your customers are, and what each journey with them could look like.

Ultimately, customer centricity is about storytelling, which can only be done effectively when based on the data that is collected about the customer. Fully comprehending where the customer is in their journey and the emotions that surround a purchase is vital to achieving the tailored one-on-one interactions that customers are seeking. Understanding and creating language to put around the data helps to create a picture of who the customer is and what their underlying wants, needs and desires are.

As CMOs start to navigate a customer-centric solution and utilise this necessary data correctly, they have the potential to increase customer engagement, profitability and most importantly, keep Australian brands competitive.

Latest News

Sweeney Advertising Wins Five New Accounts, Adds Senior Staffer
  • Advertising
  • Marketing
  • Media

Sweeney Advertising Wins Five New Accounts, Adds Senior Staffer

Full-service boutique advertising agency Sweeney Advertising has announced five new business wins, adding $10 million in annualised billings. The agency’s new clients are real estate network Century 21, wealth creation and management company InvestSMART, online streamlined options trading platform HighLow, Japanese restaurant chain Sushi Hub, and swimming pool and accessories distributor Bestway Australia. Sweeny Advertising […]

Instagram Video: We Are Living In A Vertical World
  • Co-Lab

Instagram Video: We Are Living In A Vertical World

The way people record, share and replay their lives has changed dramatically since the advent of Facebook-owned Instagram. Once a place where only static, filtered photos could be uploaded, Instagram now offers photo and video uploads, shopping features, direct messaging and several other tools serving users and businesses. However, for Instagram head of business Jim Squires […]

by B&T Magazine

B&T Magazine
Yes! It’s Virtual Reality Demystified
  • Co-Lab

Yes! It’s Virtual Reality Demystified

Virtual Reality has been a staple of science fiction for some time, Though, in terms of real-life application, the world is still coming to grips with what the tool can offer us. In recent years, tech experts, doctors, medical students and videographers have used the tool as a way of exploring worlds not normally accessed in […]

by B&T Magazine

B&T Magazine
Facebook Messenger: The New Age Of Communications
  • Co-Lab

Facebook Messenger: The New Age Of Communications

The unparalleled success of Facebook-owned Messenger can be pinned down to its ear to the ground approach with users. Consistently listening to its user base of more than one billion, Messenger’s ability to stay not only on trend but well ahead of it has allowed the app to become a global tool for communication; be that […]

Industry Generates A Record $10.5m For Social Impact
  • Media

Industry Generates A Record $10.5m For Social Impact

UnLtd, the media, marketing and creative industry’s social purpose organisation has announced a total industry contribution of $10.5m to social impact in FY18. The total value of funds, services, inventory and time donated by the media, marketing and creative industry increased by 21per cent compared to the previous financial year due to a growth in […]

Women In Media Profile: Danni Wright
  • Media

Women In Media Profile: Danni Wright

We'd be headlining Danni Wright's Women in Media profile the "Wright stuff" if it wasn't utterly predictable and naff.

by B&T Magazine

B&T Magazine
Posterscope Promotes Two
  • Media

Posterscope Promotes Two

Posterscope, Dentsu Aegis Network’s specialist out-of-home agency, has promoted Ryan Hedditch to the newly created position of national head of strategy and Samantha Summers to Sydney Group Business Director. In his new role, Hedditch is charged with driving the continual improvement and transformation of the Posterscope offering to clients and partners. Summers’ promotion will see her lead […]

Outbrain Accelerates Growth With APAC Promotions
  • Media

Outbrain Accelerates Growth With APAC Promotions

Native discovery platformOutbrain has announced several movements in its regional leadership team, with plans to make more new hires. This comes on the heels of two senior appointments it made in February, after closing a record year in the region with expansion into new markets. Yoav Tourel has been promoted to head of sales for […]

Clems Syd & Extra GUM Unveil YouTube Digital Stage
  • Media

Clems Syd & Extra GUM Unveil YouTube Digital Stage

YouTube EXTRA Gum has launched EXTRA Support Acts, a program created to support Australia’s up and coming musicians by transforming pre-roll ads on YouTube into a digital support stage. It has been created in partnership with Clemenger BBDO Sydney as creative lead, Universal Music Australia and BRING for talent and music strategy and content, MediaCom and YouTube. The […]

OMD Australia Tops 2018 RECMA Rankings
  • Media

OMD Australia Tops 2018 RECMA Rankings

OMD Australia has taken the top spot for Australia’s Number 1 media agency in size, according to RECMA’s 2018 ‘Overall Activity Volume Rankings’ report released last week. Additionally, the company was named first in profile classification with a dominant profile for the 3rd consecutive year, along with vitality ranking and structure ranking. Furthermore, OMD Australia was also named […]

Red Agency Bolsters Sydney Team
  • Media

Red Agency Bolsters Sydney Team

Judging by the image, it seems Red Agency may have had no staff whatsoever prior to this hiring spree.

Nine Appoints Editor For 9Honey
  • Media

Nine Appoints Editor For 9Honey

B&T's editor coincidentally spilled honey on his shirt while typing this. And by typing, we mean copy and pasting.

Y&R Sydney Scores Best&Less   
  • Advertising
  • Media

Y&R Sydney Scores Best&Less  

Y&R wins Best&Less amid rumours the clothing shop its changing name to 'Somewhat OK&Reasonably cheap'.

Women In Media Profile: Judy Sahay
  • Media

Women In Media Profile: Judy Sahay

B&T's Women in Media profiles are like a wave washing over you. Even more so if an actual wave washes over you.

by B&T Magazine

B&T Magazine
How B2B Companies Can Use Their Customer Data More Effectively (And Why They Need To)
  • Marketing
  • Opinion

How B2B Companies Can Use Their Customer Data More Effectively (And Why They Need To)

In this opinion piece, SalesPreso co-founder and CMO Joel Thomson (pictured below) explains how B2B companies can use their data more effectively and deliver a personalised customer experience that matches their B2C counterparts. From the Cambridge Analytica scandal to the EU’s recent GDPR legislation, this year has prompted individuals all over the world to consider […]

Opinion

by B&T Magazine

B&T Magazine
M&C Saatchi Launches THIS Film Studio
  • Advertising
  • Marketing
  • Media

M&C Saatchi Launches THIS Film Studio

Not one to rest on its laurels, M&C Saatchi unveils new production studio it hasn't called 'Not One To Rest On Laurels'.

Creative Agency Launches Project Management Tool ‘Hassl’
  • Advertising
  • Technology

Creative Agency Launches Project Management Tool ‘Hassl’

Yesterday at TedX Melbourne the team behind award-winning, Melbourne-based agency Your Creative launched their new tech venture Hassl, the project management platform taking on Trello and the likes. With the belief there was a better design solution to project management, the platform has been developed over the last two years in collaboration with their clients. […]