Welcome back CMOs! We hope you celebrated the New Year in style! In the expectation that this year will be one of fresh ideas and new beginnings, we’ve compiled some of the latest developments that every marketer should keep tabs on for 2015.
For instance, are you aware of Facebook’s new rules regarding organic reach? Are you using A/B testing to maximize conversions? Has your company embraced marketing automation? Roll up your sleeves and read on! There’s a lot of exciting marketing to be done.
We hope you enjoy these articles. Let us know your thoughts by commenting below, or reach out on Twitter: @NICE_CX
Marketingland.com asked 16 leading CMOs their predictions of the top marketing trends for the coming year. Some of their forecasts will be familiar to readers of this blog: e.g. mobile expansion and big data. But some others may surprise you.
For instance, Dan Robbins, VP Corporate Marketing, FOX delves into some major changes in social media marketing. Facebook, he writes, has changed its policies to only let you organically reach single-digit percentages of your audience, throttling posts that are deemed too sales-driven. If you want to boost a single post to reach your full brand following, it can cost as much as or more than a full-page print ad.
In light of Facebook’s new monetization plans, Robbins predicts that brands will divert budget away from social platforms and will funnel those dollars toward enhancing owned digital platforms like their website(s), email marketing lists, and mobile apps.
Another CMO, Penny Holt of Borrowers First, predicts the rise of marketing automation in 2015 and beyond. There are many, many more insights, and I highly recommend that you read the article in full.
On the children’s live-action adventure show Captain Midnight, members of the Secret Squadron used special decoder rings to decipher messages that no one else could understand. The secret decoding power provided a competitive advantage that allowed the Secret Squadron to win.
Does marketing have a secret decoder ring? Don’t we wish! — writes author Alan See. Unfortunately, consumers aren’t predictable, linear, rational or sequential beings. But you can still crack each customer’s code by engaging them through the right touch points with relevant and timely information.
These touch points span the four stages of the consumer buying process: awareness, information search, evaluation and purchase, and after-sale service. If customers feel proud of their purchase, and the customer experience was delivered as promised, then you know you have cracked the code.
Marketing has become so important that CMOs are now the best-poised candidates for the position of CEO, writes Russell Glass. He presents a case study of a data-driven marketer, namely, Dan Siroker, the Obama campaign's director of analytics in 2008.
The Obama campaign is famous for its online fundraising machine. How did they do it? Glass says that Siroker conducted a series of A/B tests, comparing the results of 24 combinations of visuals, copy and calls-to-action, identifying the most effective combination for raising campaign funds. This A/B testing generated an additional $60 million for the campaign — along with proof that he had actually done it.
Siroker is now the CEO and co-founder of Optimizely — just one of many pioneering, data-driven marketing executives who have become CEOs. The author of this article, Russell Glass, is co-author of The Big-Data Driven Business: How to Use Big Data to Win Customers, Beat Competitors, and Boost Profits.
Advertisers and marketers may not know who you are deep inside, but they often know your purchase histories. In this sponsored article on Business Insider, a customer analytics company called Neustar explains that this history makes up your consumer identity. Neustar goes on to describe some of the surprising correlations they’ve discovered using big and not-so-big data analysis.
For instance, at a recent Adweek event in New York City, they asked audience members to identify themselves with hashtags. For instance, #iruninheels for fashionistas, #ineedanap for proud parents, and #madwomen for those who identified with Peggy from "Mad Men."
After compiling the tweets, Neustar revealed that those who identified themselves as fashionistas enjoy watching boxing and tune into the NBA Finals. Who knew?
They also found that the self-identified fashionistas recycle and compost 7-20% more than average and used their credit card 20 times in the last 30 days, usually clearing their balances. Beyond the amusement factor, why should you care? Even if you don’t sell shoes or clothing, says Neustar, these types of insights can lead to more personal, effective campaigns.
Does your company provide good customer experience? If the answer is yes, you’re in trouble. That’s because only companies that deliver great customer experience will come out ahead in 2015, according to a new Forrester report: Predictions 2015: The Race From Good To Great Customer Experience Heats Up.
Customer experience is the new battleground for companies that can no longer win customer loyalty based exclusively on product features (too easy to copy), selection (‘I can always find an alternative product or service online’), or price (‘At any given moment I can almost certainly find a lower price’), says Harley Manning, a co-author of the report.
Another fascinating fact from the report is that when it comes to customer experience, emotion has a larger impact on customer experience than either effectiveness or ease.
Although CX is not the only thing companies need to get right, says Manning, it is one of the biggest things. Then he makes a fascinating point: Unlike marketing, pricing or logistics, CX is in early days so there is a lot of opportunity to get ahead of competitors who aren't even thinking about it yet.
We hope you enjoyed our picks and bookmarked a few articles for future reference. Please don’t forget to share with other CMOs.
Are there any other marketing topics that interest you? Tweet us, or comment below to let us know!