In this opinion piece, Rory McNeil (pictured below), head of marketing for Australia and New Zealand at Squiz, explains how businesses can make the most of their marketing technology investment.
It’s promising to see more marketers and their organisations realising the power of marketing technology (martech) to drive business growth. Squiz’s most recent State of Marketing Technology Report found Australian respondents had been spending increasingly more on it in the past twelve months – with 78 per cent saying that there had been heavy investment, compared to their UK and US counterparts (64 per cent and 50 per cent respectively).
As spend goes up, it is essential that marketers ensure it’s used wisely.
Changes to the way customers expect to be treated and the new ways that they can access brands, products and services has created a need to automate complex and time-intensive work. Key to this is collecting increasing amounts of information about users and improving activity attribution, which has led to the explosion in the number of platforms now available. This is why the key to maximising martech investment is focusing on CX and becoming truly customer-centric.
According to the report, 62 per cent of respondents accredited martech investment to better understanding customers and prospects, and this is a positive indication that organisations are trying to get closer to their customers, not just explicitly, but implicitly as well. Getting a single view of the customer and improving personalisation is more important than ever, and senior marketers must lead the way as a matter of urgency.
Creating a single view of the customer to unlock greater CX
Before personalised experiences can be delivered, a holistic representation of the customer must be derived, and this can only occur through the accumulation of accurate data.
Organisations should invest time in building a single view of their customers at the beginning of their relationships with them, adding to it throughout their lifecycle. By doing this, you ensure that you can identify the right next steps in customers’ journeys and streamline future interactions with them, anticipating their needs and setting you apart from your competitors.
Achieving a single view doesn’t mean reinventing the wheel for each new customer, but it does require investment – integrating systems, doing research, and adjusting business processes to meet expectations. Any existing (or recently acquired) martech should therefore be taken advantage of accordingly.
Optimising martech expenditure in a way that aligns with a customer-centric focus will allow a more accurate and rounded understanding of customer data to be provided to organisations, thus enabling them to deliver the consistent, personalised experiences that customers are increasingly expecting.
By doing this, organisations put themselves in a position to create lifelong relationships with customers, and the better you are at doing this, the greater your reputation and levels of customer engagement will be.
Complementing technology with a correlating culture
It has been proven that creating a customer-centric organisation leads to better value and service for customers, but to holistically embrace customer-centricity, an organisation’s culture also needs to shift – a far more larger, complex task.
Martech’s role in an organisation is not simply to replace analogue tasks with digital ones. Martech should be onboarded with the intention to empower employees, including those tasked with operating the technology and those implementing the cross-organisational strategies that sit behind its use. With this must come an innate ability to empathise with customers – to truly understand them and their needs – in order to provide better value and service for them.
All organisations exist to deliver value to their customers, but internal structures can hamper a customer-centric culture from within and restrict martech’s full potential.
Siloing departments by function is no longer relevant nor constructive, with marketing’s role increasingly flowing into that of IT’s and beyond. Restructuring employees around customers and implementing human touch points to combat these silos will provide a nurturing environment for strategic martech optimisation.
The growth in the utilisation of martech is only going to continue. As customers increasingly expect better coordinated, and more tailored experiences across every channel, the only way to enable this will be via strategic martech investments. Through freeing up time by the use of automation technologies and truly understanding your customers (through data), your organisation will become an efficient, effective, customer-centric organisation.
In light of the prolonged lockdown occurring throughout New South Wales, Semi Permanent Sydney has announced new dates for this year’s festival. It will now take place between 17-19 November 2021 at Carriageworks. “Our mission, always, is to craft the best and most valuable experience for both our speakers and audience, and to ensure the […]
The Tokyo Olympics is now in full swing. This means there is some athletic greatness paired alongside mishaps and frankly good old fashioned drama. Case in point, former United States President Donald Trump can always be relied on to bring the drama. The Olympics aims to steer clear of politics and instead focus on morale […]
The recent eCommerce boom has seen Aussies spending an estimated $48.1 billion in online retail in the past year. Now new research has uncovered how small retailers successfully pivoted their customer service focus to stand out in this vast market, with one in two Aussies loving the service and quality from the small players. Large […]
Ubiquity Lab has announced two new appointments to its growing consultancy team. Kirilly Mallard (pictured right) joins as director – PR and communications and Emily McHenry (pictured left) as integrated account manager. Since launching in 2018, Ubiquity Lab has disrupted the market with its distinct offering. Founded by Matt Allison, the agency’s mantra and experience […]
Acast, the independent power source of podcasting has teamed up with Comscore to provide brand suitability controls for brands advertising through the Acast Marketplace. This new innovation is part of a global partnership with Comscore, and will be available to all advertisers working with Acast Australia and New Zealand. The brand suitability solutions offered by […]
In this guest post, RMIT advertising student Perri Kapnias (main photo) lays out some innovative plans that can help likeminded ad aspirants land the first killer job… My name is Perri Kapnias, and I am a 20-something advertising student. Like almost everyone else on the planet, I scroll through social media every day. I am […]
Social media management solutions company Hootsuit, has announced that Maggie Lower has joined the company as chief marketing officer. Lower will own the brand’s overall global strategy, demand generation, communications, and events. Prior to joining Hootsuite, Lower was the global chief marketing officer at Cision, the first chief marketing officer at TrueBlue, and has held […]
Ryvalmedia has announced its appointment as SEM and performance media agency partner for MyDeal.com.au (MyDeal) after a competitive agency review. With work commencing in July, the remit includes SEM, digital media performance strategy, planning, trading, and implementation, with scope for data, technology, and analytics project work. Launched in 2011 and ASX listed, MyDeal.com.au is an […]
Content Agency, Medium Rare has announced that Aidan Corrigan has joined its multimedia team as head of video. Aidan is a producer and director with extensive experience delivering award-winning content across advertising, broadcast, digital and the creative arts. A driven storyteller, he’s worked throughout Australia, North America and Europe developing and executing creative projects while […]
Media agency Wavemaker has appointed Susie Si as group business director – to lead the Vodafone account. Si joins from sister agency MediaCom, where she has spent the last 8 years. Most recently she was group client lead on News Corp. Si will report to Wavemaker Sydney managing director Ian Edwards, and replaces Emily Cook […]
Headquartered in Melbourne, Trade Indy is expanding off the back of strong client retention and consistent growth through existing and new business. Founded in Melbourne in 2014, the team have since expanded the business through team members in Singapore, Indonesia, Tasmania and Queensland, and are pleased to announce the full-time employment of NSW commercial director […]
Outbrain Inc. has announced the pricing of its initial public offering of 8,000,000 shares of common stock at a price to the public of US$20.00 per share. The gross proceeds to Outbrain from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be approximately $160 million. The shares began […]
HubSpot, the customer relationship management (CRM) platform for scaling companies, has announced that as part of its World Certification Week, it is supporting the GO Foundation with its mission to empower young Aboriginal and Torres Strait Islander people through education. As part of the support, HubSpot will donate $5 for every HubSpot Academy certification awarded […]
IntelligenceBank has today announced a strategic growth investment from Five Elms Capital. The $US37 million ($50 million) investment comes as brands and enterprises have realised that outdated technologies, disjointed data sources, and manual processes make it challenging to efficiently manage essential marketing workflows and ensure compliance across the organization. IntelligenceBank digitally transforms manual processes and […]
Southern Cross Austero (SCA) announced today 10 all-new DAB+ music stations on LiSTNr. The introduction of the 10 new Dab stations takes the number of music stations to 25 and reinforces its commitment to growing exclusive music programs and content. The 10 new stations have been created to cater to a variety of moods and […]
SBS has launched live interpreting of the daily NSW Government COVID-19 press conference in languages other than English, to provide communities with access to the latest information and critical health messages. The national-first initiative provides real-time interpreting of the press conferences in Arabic and Vietnamese, streamed live every day on the SBS Arabic24 and SBS Vietnamese Facebook pages, SBS […]
Snowflake, the Data Cloud company, today announced it has been chosen by market-leading linking platform, Linktree, to support the company’s business intelligence and analytics activities. Linktree enables creators, brands, artists, publishers, agencies, and businesses of all sizes to curate an online ecosystem and monetise their passion, instantly guiding their audience to the destinations they care […]