One of the B2B roundtables at this year’s Digital Cream London event focused on marketing automation, the findings of which have just been released in our free-to-access Marketing Automation Trends Briefing, sponsored by Oracle Eloqua.
According to Econsultancy calculations, major marketing automation vendors have secured more than $150 million in additional venture capital funding in the last few months.
Coupled with the consolidation spree we’ve witnessed lately, the market shows strong growth and potential, with some analysts predicting 50% industry revenue increase in 2013.
The explosive growth of transactional and online shopper data means consumers are swamped with information. In just one internet minute, there are now 2m Google search queries, £83,000 in sales on Amazon.co.uk, 100,000 new Tweets and 6m Facebook views.
The retail industry is no exception. Whilst in-store product ranges are limited by the physical constraints of shelf-space, online retailers can display ten times the amount of products on their sites.
This leaves consumers with overwhelming choice. Yet research shows that most products are going un-noticed. As highlighted in a study undertaken by RichRelevance, only 44% of products online are getting attention; leaving 56% bypassed.
Furthermore, just 10% of products on an online retail site garner 75% of page views.
Bringing this back to the in-store metric, this is leaving over half of the shopping aisles in the dark.
In part one, I looked at the concept of inbound marketing and the philosophy behind it, which is to attract and retain interested prospects with great quality content.
Here, I’ll explain how to put that into practice, using five key steps.
Even though it is impossible to have a conversation today with a CMO or other marketing leader that doesn’t address digital strategies and tactics, it is easy to forget that the term “digital marketing” did not even exist 10-15 years ago.
In the rush to drive likes and tweets, pins and favorites, ratings and reviews, marketers often overlook traditional tactics, which are still an effective way to motivate desired behaviors among consumers.
And as the land grab to gain digital mindshare continues to pick up steam, it is becoming ever more important to differentiate your brand by offering compelling solutions to consumers across all channels -- both digital and traditional.
Whilst the discussion was ripe with technical tongue twisters, the overall message was clear. Big Data, and its implications on Big Marketing, remains a mystery for many.
There is an endless stream of Big Data platform providers clamouring to prove that only they provide the most verifiable and cleanest solutions.
What is vital here is to not become fixated by promises but instead challenge the vendors’ capabilities to provide specific, applicable data which allows you to achieve the true purpose of engaging with data.
This purpose is to make more informed, Big Marketing decisions.
The big promise of big data for marketers is to be able to use all the data we have. By looking at all the information, big data allows us to explore minute details without the risk of blurriness.
in theory, sampling (which always lost detail because it is a proxy for the full data set) and guesswork go away, we can analyse all the data for every customer and prospect, and provide that customer experience nirvana of just the right offer at just the right time.
If that feels like a big change for you, then start small. Attribution, one of the most persistent of marketing challenges, can be a great area to apply big data for immediate results, and ROI.
Inbound marketing: is it just another buzzword?
In this two-part article, I'll explain what it really means and why its lead generation potential is causing a stir.
Social and mobile have been around for a while now, but there are still a lot of dad dances out there.
Count how many of these you agree with...
Welcome back. I hope you caught the first part in this series where I stressed how important it is that businesses recognise that countries and cultures interact with websites differently and how it’s key to provide bespoke experiences in order to succeed.
In the concluding part of the series, I’ll explore the challenges of brand consistency and my final thoughts on the matter. There is a big world out there and this is neither a quick nor easy process.
It is one that will help increase conversions and ROI though, something businesses can’t ignore as global online competition accelerates.
As the number of ad technology vendors grow and their functions expand, companies continue to implement more and more tags on their websites.
This process takes place in stages and incorporates various departments in the organisation, often without a central role governing their organisation.
This can result in a slower, less efficient, and more vulnerable website. Over the past five years, the average number of elements per page has doubled from 50 to over 100.
In an increasingly complex online advertising environment driven by analytics, ad delivery and site optimisation, how well are companies managing the many scripts and cookies found across their websites?