Is Monogamy The Best Solution When Choosing Your Brand’s Adtech & Martech Partners?

Is Monogamy The Best Solution When Choosing Your Brand’s Adtech & Martech Partners?
SHARE
THIS



In this guest post, Mitchell McBeath (pictured below), general manager of NSW & Queensland and operations at Columbus, explains how to go about finding the right adtech and martech fit for your brand.

Mitchell McBeath

It’s no secret that marketing and advertising technologies are colliding.

Sparked by recent M&A activity and an abundance of new technology providers entering the Australian market, marketers now face the difficult task of analysing an ever-increasing landscape of technology providers to find the perfect partner (almost like The Bachelor).

Not only does the chosen partner/s need to deliver a solution to reach the many, but it will need to integrate multiple data sets – both old and new – seamlessly to provide a segment of one.

So, the question is: should marketers choose monogamy, seeking a singular technology platform for all marketing and advertising requirements? Or partner with multiple, choosing individual best-in-class technologies, and work tirelessly to integrate the data sets?

From personal experience, I believe that each vertical, brand and business will require a unique approach to their martech and adtech providers. Before making this critical decision, it’s important to start from a place of discovery and individual business requirements to evaluate the short and long-term value of technology vendors.

Leading the pack

Brands like Clarins in the UK have rigorously audited both their marketing and ad technology to unite customer data under a single customer viewpoint. Shoppers are incentivised to hand over purchase data after they’ve purchased a product in-store, along with reward card schemes collating existing customer data. The more you share about your purchase history, the bigger the reward.

Within the UK specifically, online shopping compared to offline is at an all-time high. The number of transactions happening online is around 13 per cent – this means 87 per cent of potential client data is uncaptured, a missed opportunity that aligning to an omni-channel approach can rectify.

Locally in Australia, data legislation continues to be a hot topic. Successful brands are those that align their technology to find innovative ways to collect their customer data and are well-versed in the relevant government legislation.

With the abundance of technology providers out there, take the time to truly understand the value they bring, and be transparent in order to arm them with the right information. Better and more transparent relationships, built on solid foundations of communication and trust, will only help grow the industry and result in better outcomes for your business.

Start with a clear data narrative based on your business objectives

Big data, data storage, DMPs, DSPs, predictive analytics, machine learning, data visualisation – the list goes on. Cut back on the amount of platforms needed initially and challenge yourself to think how you want your data to provide meaningful stories. Data narratives are a clear way of understanding your current data; mix these with your business objectives to set a clear roadmap for other data points to form your brand communication.

In chasing the latest dashboards, integrated feeds and tech integration, it’s easy to over-complicate the process and forget the fundamentals of basic communication and storytelling. What use are 1,000 rows of data in a dashboard if it doesn’t back up your recommendations to key decision makers? Or why bother having machine learning and AI for your business if your CRM doesn’t give an accurate representation of your existing customer base? Often a simple selection of an excel graph can tell the best story.

Sometimes simple is best, and it’s better to focus on using your existing data first so you can make the best decision regarding your business and brand approach.

Have a digital economy mindset for your technology base

If 60 per cent of your transactions are delivered from mobile devices and you, alongside the majority of marketers (myself included), expect this trend to continue into 2020, how do you align the future position of your new technology to support this? Ascertaining the provider’s product roadmap and how it intends to drive innovation for your business in the long-term will be critical to finding the right technology partner. You should be transparent with your brand’s vision and product plans to ensure your vendors can fully support you.

Some things to consider are the impacts of the National Broadband Network in rural areas, the possibility of a cashless society, and digital disruptors entering the market. How will your brand and vendor mutually align to future proof your business?

The importance of setting measurable, accountable outcomes for your technology

Technology metrics need to be clear for both your internal stakeholders and your agency partners to shape the conversation and alignment of business objectives with technology capabilities. Simply put, a technology KPI doesn’t matter unless it impacts your revenue base. Technology, both marketing and advertising can be versatile, and it’s important that your providers know their role to play for the bigger picture of your organisation. If your technology vendor cannot answer how they’re structured for the future of your business and how they can support you, it’s an immediate red flag.

Before committing to your partner/s, make sure you consider the below:

  1. What is the expected upside to my existing business KPIs (ROI, ROAS, increase in new prospects, etc.)? It’s vital to set clear objectives. Ensure the vendor can clearly explain the impact you can expect through the investment of money and resources into the new technology, and when. Equally, be clear on what you can provide the vendor in terms of implementation resource.
  2. Can the technology scale with my business? How can the vendor add value outside of the day-to-day relationship? The ability of the vendor to truly integrate with your brand and marketing objectives will depend on your resources and willingness to become true partners.
  3. Who gets custody of the data in case of a divorce? Sometimes relationships fail and we seek an alternate direction. Both brand and vendor must be clear on who owns the data and what access is granted in the event that the relationship ends. Without clear expectations from the outset, your business risks being locked in to a vendor relationship to keep existing data sets. This should be legally documented post the evaluation stage and prior to signing.
  4. Don’t commit too early and make decisions based solely on visual representations. Technology vendors often wow us with credential presentations showcasing work with competitors or similar clients in other markets. These are good signs they have expertise, but how does this work for you? Asking to take a ‘test drive’ of your vendor’s technology prior to engagement is a no-brainer, enabling key decision-makers and the team who will ultimately use the technology to understand its strengths and weaknesses.
  5. Will the partner support you post sale? There were 10 people involved in the pitch process and you signed up to what was on offer, but over time, resourcing decline and the original objectives are not being met. Be clear with your new and existing providers as to what resources are required to ensure both parties have clear expectations.
  6. How are updates and upgrades managed? Cloud-based updates suit both marketing and advertising technology. However, some are still manual, which can cause downtime for your technology. It’s important you understand the potential impacts to your business and the frequency of these updates.

Finally, all of the above should be complemented with smart commercial discussions regarding upfront and ongoing costs for the use of the technology and fees to integrate with other providers, if applicable.

Latest News

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
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 […]

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 […]

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. […]

ABC Axes Tom Ballard’s Tonightly
  • Media

ABC Axes Tom Ballard’s Tonightly

It's one of the ABC's edgier, controversial shows, but Tom Ballard's proven too edgy and controversial for ABC chiefs.

Taboola Strengthens APAC Programmatic Offering With New Partnership
  • Advertising
  • Media

Taboola Strengthens APAC Programmatic Offering With New Partnership

Global discovery platform Taboola has announced a strategic partnership with Wider Planet, Korea’s largest demand-side and data management platform. The partnership builds on Taboola’s programmatic efforts in Asia-Pacific, and will bring together Korea’s largest demand platform for agencies and brands to provide access to Taboola’s global audience through premium publisher placements. The partnership means advertisers […]

The Haus Picks Up Two New Clients
  • Marketing

The Haus Picks Up Two New Clients

The Haus announces two new client wins. Admittedly, not as good as winning three, but far better than losing four.