The Holy Grail of Marketing
Forecasts suggest the CMO will spend more on technology than the CTO and CIO by 2017: according to Gartner, marketing was the fastest growing category within CRM in 2012, growing at 21% - more than four times the software industry norm. The marketing category as a whole is undergoing rapid transformation due to the explosion of social mobile applications, which offer new and unique ways to for brands to reach and engage with their end customers. We've also seen a massive increase in demand for Plexure's platform over the past few years. Early adopters have now started to look for ‘what’s next’ in their digital and mobile marketing strategy to ensure they keep their nose in front as mobile marketing becomes ubiquitous.
Mobile marketing strategy Phase 1: proximity marketing
For many of our clients, Phase 1 of their mobile marketing strategy was the delivery of location-based or proximity marketing. Mobile promised so much in the space, but this isn’t how consumers shop. Sending me a great offer on a bacon cheeseburger when I’m outside the restaurant is great in theory, but not so great if I’m a vegetarian, don’t like burgers or don’t like getting unsolicited messages. Location is just one dimension of consumer engagement.
Mobile marketing strategy Phase 2: social & lifestyle insights
Phase 2 has been the integration of social networks and lifestyle behavior profiling, blended with data indicating user preferences and intent, enabling brands to engage with their customers in new and relevant ways. From a combination of opt-in categories, preferred restaurants and lifestyle insights, Plexure can help our vegetarian consumer discover a promotion for a new vege burger at one of their favorite restaurant chains nearby.
Mobile marketing strategy Phase 3: closing the loop
Phase 3 is closing the loop at the point of sale – the offline world’s equivalent of monitoring from click-through to order placed. This is really about turning marketing from an indirect expense to a direct cost of sale. Delivering a promotional offer, which is redeemed in store and thus assigned, to an identified customer and transaction is the nirvana for most marketing managers. Now with measurable results, campaigns can be analyzed, compared against previous or parallel campaigns, and optimized.
Intelligent platforms harnessing Big Data and the IoT allow this Holy Grail of marketing to be achieved – enabling ongoing marketing channel and promotion optimization. As more enterprise clients deploy marketing platforms it will be interesting to see what the next evolution brings.