Are You Prepared to Handle the Oncoming Martech Consolidation?

For those marketers who rely on marketing technologies while navigating an industry landscape that changes almost daily, here are four considerations to make when adapting to the oncoming martech consolidation.

In previous posts, I have often referred to the vast martech landscape as the land of shiny objects. This was a term of derision and admiration. The landscape is filled with amazing innovations. It also can overwhelm even the most tech-savvy marketers and cloud strategic thinking.

We marketers were often so enthralled by what we could do, we often lose sight of what we should do. Today, as the economic impact of COVID-19 grows, the effect on marketing technology spend will be significant. The martech landscape has been built on billions of speculative investments from private equity. However, most of these products were barely profitable, if at all, before COVID-19. Most of them are now burning significant cash, and they were never capitalized with a pandemic in mind.

Soon, investors will be making hard choices. Many martech solutions will be sold at huge discounts, some will close. I believe the much-anticipated industry consolidation is around the corner. This is not the way we wanted martech consolidation to happen, but this is the painful reality. For those marketers who rely on these technologies while navigating an industry landscape that changes almost daily, here are four considerations to make when adapting to the oncoming martech consolidation:

  1. Hire “The” technology expert. Many martech companies have implantation consultants; the best ones are often held closely and deployed on the most complex projects. This could be your opportunity to hire them. If new hires are not in the budget, perhaps a contracting agreement might work. In either case, if you have invested in the technology, why not invest a bit more for the right talent who will help you get the most out of your investment?
  2. If you are using a niche technology, reach out to your account rep. Find out how they are doing and what their plans are. If you have a good relationship with your rep, they will hopefully share any changes afoot, availability of on-going product support, the possibility of a sale or even closure.
  3. If you need to invest in new technology, look for solution providers with a broad base of active clients. (Notice the word “Active”). In some cases, one or two large clients can support a solution provider just fine. However, if typical license fees are $60,000 per year and the solution provider has a staff of 20 people, a broad base of clients will be critical for survival. (It’s just math.)
  4. The exceptions to No. 3 are cases where the solution provider has recently been acquired by a larger concern, especially post COVID-19. In such cases, someone with deep pockets thought enough of the technology to buy and invest in its survival. Although deep pockets do not always translate into smart money, it is enough of a reason to consider the technology seriously.

Those of us who have been keeping track of the martech universe know that the growth was unsustainable (There were over seven thousand solutions in the market as of 2019). The hope was that the best products would survive and eventually lead to industry consolidation. It seems that COVID-19 will abruptly end the natural evolution of the industry, for the time being. Innovations and investments will return, but exactly when is anyone’s guess.

In the meantime, we need to be kind and helpful to those who will be affected. In doing so, we may benefit from their wisdom, which was often drowned out in the previously noisy clamor of martech.

Is Identity Resolution the New, Must-Have Martech Solution?

There’s a bit of growing confusion and buzz in the martech space around the topic of identity resolution. It’s the new elixir being pitched as the critical additive to make your marketing technology stack work better, faster, and deliver better results. But is it?

There’s a bit of growing confusion and buzz in the martech space around the topic of identity resolution. It’s the new elixir being pitched as the critical additive to make your marketing technology stack work better, faster, and deliver better results. But is it?

For those of you familiar with the marketing technology space, every new solution comes with a blend of real value, hyperbole and needless complexity. Identity resolution is no different. Here I will try to unpack this relatively “new” capability and put it into perspective for marketing leaders. (Why did I put new in quotes? Keep reading to find out.)

What is Identity Resolution?

Identity resolution uses artificial intelligence (AI) to connect customer interactions and achieve a single customer view. The concept of capturing all customer interactions (marketing, engagements, sales, post sales), at the individual level, has been around for many years. However, achieving this goal has been very hard.

The reason is that customers interact with your brand across multiple channels (online and offline) while using multiple devices. Additionally, some interactions are anonymous or only provide limited identifiers. This interaction variability results in very complicated, disjointed customer data.

Until recently, most efforts at achieving a single customer view involved creating rules engines by which each interaction could be matched with other interactions and assigned to a single customer. Due to differences in the technology stack, channels employed, and the customer experience, rules engines had to be custom-built for each organization. This was expensive; enter AI.

Identity resolution uses AI in generating matching logic vs. using a team of analysts. The basic idea is to train the AI algorithm using known matches and then validate future correct matches the algorithm makes. This is why I refer to it as a “new” capability. In reality, it is only new because rules engines have been replaced by AI. For most marketers this change is only relevant if the match rates are better and the solution is cheaper than existing efforts are at achieving a Single Customer View.

What’s the Hype and Confusion About Identity Resolution?

While the addition of AI is innovative, it does not always translate into better match rates. Other major challenges with single customer view, such as the accurate collection of relevant data, still remain. AI, like any other analytic solution, also suffers from bad data and can put out spurious results. Therefore, verifying and validating AI matches is a task in and of itself.

The next issue to keep in mind is that identity resolution is probably not going to be sold as a separate solution in the near future. Within a short period of time, it will be integrated into larger martech solutions such as CRM or marketing clouds. Waiting to implement identity resolution could mean leaving the difficult task of systems integration to the cloud solution providers. However, the trade-off will be losing first mover advantage.

What Is the Value?

Single customer view has been the holy grail in marketing for good reason. With it, marketers can better understand the impact of interactions across the full customer experience life cycle. As an added benefit, marketers could also generate data-driven justifications for modifying or redesigning large segments of the customer experience. This will result in significant growth opportunities for your brand.

Despite the hype and confusion, identity resolution presents a great opportunity to finally achieve a single customer view. In theory, the introduction of AI should make identity resolution a desirable solution with better match rates and lowered costs. This means the evaluation of identity resolution tech is somewhat straight forward (though not necessarily easy).

The core evaluation question becomes, “Is the identity resolution solution cheaper and better at creating a single customer view vs. current efforts?”

Revisiting My 3 Marketing Predictions: Climate Change Rose to the Top

I am going to be taking a break from posting for a bit. So, before I start my break, I thought I would revisit some marketing predictions I made earlier in the year.

I am going to be taking a break from posting for a bit. So, before I start my break, I thought I would revisit some marketing predictions I made earlier in the year.

My 3 Predictions

I never expected 2019 to totally transform marketing; but there is a major shift underway, with respect to the last prediction.

In my last post, I wrote about the recommendation from the Business Roundtable that companies think more broadly about the constituents they serve, including the planet. The vast majority of Americans believe that the climate crisis is real and there is a desire for real change. Climate worries are also causing consumers to rethink their consumption habits and businesses are responding.

How Am I Doing?

For me, these trends have not just been academic.

I recently went to a fast-casual style restaurant. My younger daughter likes to order the kid’s meal there, and it comes with a fairly rigid small plastic cup to fill up at the drink station. She has decided she wants less plastic in the world, so she asked for the adult paper cup, instead, and was willing to pay the difference. The cashier mentioned that this request was now very common, and they had let corporate know. My daughter received the paper cup, gratis.

In another example, I was at the airport and stopped at a sandwich chain. As I was handed my drink, I was asked if I wanted the lid and straw.

I am not alone, a recent study by Futera found that 88% of consumers wanted brands to help them live sustainably. The marketing implications for this trend are very interesting. Aside from a physical product or service, consumers are asking and paying for less. While it may not seem like much, a lid and a straw are big conveniences bundled into the price of a meal. Yet at the airport I was asked … do you want to take a small hit for the team? I happily took the hit and kept my drink close, until I finished it.

I generally keep my politics out of business, but climate change is not political to me. It is an existential threat, and most U.S. consumers agree.

Now, It’s Your Turn

As marketers, we need to think of ways to satisfy this growing need; and, fortuitously, consumers are willing to share the burden.

Here is my next prediction: Companies that do not change quickly will soon find themselves out of favor with a big segment of the market.

4 Mistakes Multichannel Marketers Make and Lose Customers

Most businesses today understand the importance of multichannel marketing. They invest in SEO, PPC, social media, and even trade shows and conferences. However, if your hard-fought marketing budget is not able to increase your customer base or pool of prospects consistently, then you can be sure your funnel has developed a few holes in the wrong places.

Most businesses today understand the importance of multichannel marketing. They invest in SEO, PPC, social media, and even trade shows and conferences. However, if your hard-fought marketing budget is not able to increase your customer base or pool of prospects consistently, then you can be sure your funnel has developed a few holes in the wrong places.

Unfortunately, both B2B and B2C businesses are guilty of making sales-killing mistakes again and again; oftentimes, putting off customers without realizing it. These simple blunders could cost your business big-time, hurting growth opportunities and diminishing returns from existing customers.

Here are four pitfalls you should be wary of while implementing an integrated, omnichannel marketing strategy, so that you don’t lose any targeting opportunities. All of these tips apply to the technology, methods, and tactics that are currently used by entrepreneurs, companies, and marketers, cutting across industries and geographies.

Preferring Safe Over Sorry

Taking risks is a big part of running a business, and something that many entrepreneurs are used to. However, once they start experiencing success and growth, many begin to shy away from taking chances.

In the long run, many business owners admit that playing it safe was one of their biggest mistakes. In terms of marketing and sales, going the safe route can actually hurt your brand. Why? Because it is simply boring.

According to a study by Adobe, 54% of marketing experts know that they should be taking more risks, and an alarming 82% of companies believe that they need to reinvent their branding in order to succeed. Remember, your customers’ needs and mindsets are constantly changing. If you rely on the same tactics, the same advertisements, and the same marketing messages, people will eventually get bored and your results will diminish.

multichannel graphic
Credit: Adobe on SlideShare.com

Reassess the methods and tools you use for audience analysis, and take a look at how the demographics have shifted over the years. Compare your past results with your current numbers to see if there are any noticeable differences. It may be time to take some risks, try something new, and see what happens.

Relying on Imperfect Bots

Saving on customer support by passing on the majority of your customer service workload to an automated chatbot system sounds like a dream come true. If used correctly, these bots answer customer inquiries, resolve issues, and even make sales. This is why the AI-powered chatbot has exploded in recent years, with 15% of consumers reporting that they have used one to communicate with businesses over the past year, according to Drift’s 2018 “State of Chatbots” report. (Opens as a PDF)

However, just because this customer service channel may be working for some businesses, it does not mean that it is a one-size-fits-all solution. When creating a chatbot, the overarching goal is to solve the cognitive puzzle that fills in the gaps between a bot conversation and a human conversation. When a conversation is initiated, in any capacity, there is an exchange of data that sheds light on emotional engagement between the two parties. Take away the emotional exchange, and empathy is unachievable.

Programming an online bot to handle all sorts of customer queries and interpret exactly what someone is looking for does require a bit of technical knowledge and understanding, despite what off-the-shelf chatbot sellers will have you believe. A poorly programmed chatbot could easily result in lost revenue.

Just one bad or frustrating experience with a chatbot will likely push away 73% of customers forever. If a bot is simply not answering their question or simply offering irrelevant information, then it is doing your business far more harm than good.

multichannel chatbot
Credit: SherpaDesk.com

In order to determine whether or not your chatbots could use some help, take a look at some important metrics. Has your sales cycle lengthened? Are fewer leads moving down the buyer’s funnel? Are you facing an increase in helpdesk escalations, despite an improvement in response times? An effective sales bot should be boosting conversions — or at least micro-conversions — so if numbers are shrinking, that’s a definite red flag.

You can also try adding a short satisfaction survey at the end of each chatbot conversation to gather some customer feedback and help identify any weak points that are killing the customer experience.

Ignoring the Micro-Influencer

It seems like everyone and their grandmother is “leveraging” influencer marketing these days, trying to reach the promised (read, purported) 11-times ROI of other digital marketing methods. It is easy to get blinded by the numbers; especially in terms of “reach” and “engagement.” Just because an influencer has a huge following doesn’t necessarily mean that their promotion will help your business.

Micro-influencers (accounts with 100,000 followers or fewer) actually perform better, in terms of audience engagement and actual “influence” — purchase rates. In fact, these smaller accounts generate over six times more engagement than influencers with massive followings. Customers are also more likely to buy a product that is recommended by a micro-influencer than they are to purchase something recommended by a person they know. Additionally, the cost per lead and cost per acquisition is lower than paid ads and regular influencer marketing.

multichannel chart
Credit: Mavrck.com

If your brand has dabbled with big-name influencers in the past, it may be time to consider a partnership with a micro-influencer to reach more relevant audiences. Because these accounts have smaller followings, they tend to be niche-focused, meaning that their content is highly pertinent to their audience’s needs and interests.

Obsessing Over Any One Stage of the Sales Funnel

Marketers love to talk about the importance of the sales funnel and creating marketing plans designed to “nudge” customers through it. While the sales funnel is definitely a great blueprint to guide your strategies, getting caught up in any one phase could spell disaster for conversions.

Remember, every visitor, prospect, lead, or target must go through several steps, go back, forward, and run around in circles before they become a full-fledged customer. They must be introduced to your brand during the awareness stage, learn more about your business and products during the interaction phase, get interested and place their trust in you, and ultimately make and stick to a decision to buy from you.

However, many marketing teams tend to forget this trajectory and get caught up in either building brand awareness so potential customers grow bored, or spend too much time promoting sales jargon that people totally disengage, due to advertising fatigue. If your customers are unfamiliar with your business (thanks to a lack of top-of-the-funnel marketing), the pressure to “Buy Now” will be ineffective.

Keep in mind, it might take up to 13 interactions with a brand before a lead can even be classified as a sales-qualified lead (SQL). Focusing on any one section of the sales journey can narrow the funnel significantly, meaning that fewer people flow through.

Focus a good chunk of your efforts on educating and raising brand awareness. Once people start tuning in, give them more specific information about your content and everything you offer. As you gain serious interest, then it’s time to start talking about price points, deals, and how potential customers can take proper action.

Most importantly, you need to place emphasis on the transitions between stages. They need to be smooth and organic if you want your sales funnel to function properly.

Fix Your Strategy, Fix Your Sales

Selling is an art form that no one has truly perfected. There are so many ins and outs, little details, and psychological factors that play into it — making it a deeply complex and ever-evolving practice. Online sales add another layer of complication by removing that up-close and personal factor. However, once you’ve plugged the leaks in your sales funnel, you’ll see a larger number of customers coming in and coming back. Good luck!

3 Ways to Better Manage Marketing Automation So the ‘Shiny Object’ Doesn’t Stab You

I presented at the All About Marketing Tech Virtual Conference & Expo on the topic of targeting and automation. One of the themes I hit upon was about how companies are hindering their marketing automation success with needless complexity.

On Thursday, I will be presenting at the All About Marketing Tech Virtual Conference & Expo on the topic of targeting and automation. One of the themes I plan to hit upon is about how companies are hindering their marketing automation success with needless complexity. This topic falls squarely in the “land of shiny objects,” which is a recurring theme in many of my posts.

This theme in my posts and the 1:10 p.m. ET session, “Using Automation + Targeting to Engage and Convert,” focuses on how tempting technology can be to the marketing practitioner and how it can lead to the desire to do too many things — to detrimental effect. However, there are three things you can do to manage automation better.

Step 1 in Marketing Automation

First, make sure you have a customer strategy. If you do not have a solid strategy, then you will be automating a bunch of tactics. Unless these tactics sit under a cohesive strategy, they may work against each other.

For example, a price-focused customer acquisition program may hurt long-term brand development or pricing power. When you add automation to this scenario, it will supercharge the tactic and potentially cause greater harm.

Step 2

Second, make sure you have a test-and-learn agenda. Automation is a very data and metrics-driven process and it is managed by humans, using those same data points and metrics.

Successful marketing automation involves iterative learning to drive growth. Therefore, knowing what you are trying to achieve through automation and running multiple tests to better understand the underlying dynamics is critical.

What tends to happen, however, is that too many objectives are pushed through the automation system and the ability to learn is muddled by an excess of data and a dearth of focus.

The advice I often give is:

“Because you can do something through automation, it does not mean you should.”

Creating a learning agenda you can manage and identifying the critical metrics needed for evaluation are critical first steps before automating a marketing function.

Step 3

Third, make sure you have a pivot plan. A pivot plan anticipates how you will modify your automation program and lists the levers at your disposal.

For example, if results are not coming in as expected, you may alternate content, alternate segments or redefine the automation goals.

Doing all three at once will most likely leave you as clueless as when you began. While this seems like marketing management 101, it is easy to lose sight of this with automation. Automation generally promises rapid decision-making over volumes of interactions and self-learning capabilities.

As a result, it is tempting to get out of the way and let it do its magic. In the near to mid-term, despite automation’s usefulness, this will not substitute for strategic and management thinking.

Conclusion

I am in no way discouraging the use of marketing automation. It is not only the future, but it is also the present and is driving positive results.

Successful marketers need to start experimenting with the technology now.

However, marketing automation is also not so wonderous and awe-inspiring that we forget that it needs management and strategy. That, in turn, means balancing lofty automation goals with what you can managerially digest.

3 Martech Tools to Optimize Direct Mail Campaigns

The powerful targeting of direct mail can help you punch through all the marketing noise people are exposed to each day. Martech tools provide ways to make an even greater impact with your campaigns by cross-pollinating between channels.

The powerful targeting of direct mail can help you punch through all the marketing noise people are exposed to each day. Martech tools provide ways to make an even greater impact with your campaigns by cross-pollinating between channels.

Many marketers find this to be cumbersome and expensive, but what if there is a better way? Check out these statistics:

  • Companies that use multichannel marketing experience three-times higher effectiveness rates than those that use non-integrated campaigns (source).
  • 23X higher rates of customer satisfaction are experienced by companies with omni-channel strategies (Aberdeen Group)
  • 89% of customers are retained by companies with omnichannel engagement strategies (Invesp)
  • 45% of marketers feel they lack the necessary talent, technology, and processes to master omnichannel brand marketing (CMO Council)

So how can you harness these stats to improve your direct mail response rates? You know that on average it takes eight to 10 touches with a prospect to convince them to buy from you. So when you create campaigns using multiple channels, you make a bigger impact and provide more opportunities to convert them. You want your marketing to create engagement that leads to sales. Direct mail is a key component in your marketing strategy, but it is not the only one. So how can you easily pull together a multichannel campaign? Here are some options.

3 Platforms to Enhance Your Direct Mail

  • DirectMail.io: They offer an integrated omnichannel marketing program. Their services include data management, direct mail, email, live call center, SMS solutions, social media, and Amazon and Google voice assistant integration. This platform has flexible software that combines data, marketing, communications, and analytics, all in one place. DirectMail.io provides a simple solution that seamlessly integrates over 12 inbound and outbound marketing channels, allowing advertisers to launch, manage, and track all of their marketing efforts in one place.
  • SnailWorks: SnailWorks tracks mail using Informed Visibility from the Postal Service, which allows them to track each individual piece of mail to delivery, and then uses that delivery to trigger other marketing efforts, such as email, telemarketing, web advertising, and more. They take all of these disparate channels and tie them into a single campaign along with a web-based dashboard that shows real-time results and distributes leads for the campaign. Recently, SnailWorks added Direct2Digital ID to its service offerings. Direct2Digital ID provides mailers with an easy way to participate in the new Postal Service Informed Delivery program.
  • DirectMail2.0DirectMail2.0 suite uses seven different technologies, timed in such a way as to result in the best possible lift in a direct mail campaign. These seven technologies seamlessly track, enhance, and prove attribution on any direct mail campaign. It does this through incorporating Mail Tracking, Informed Delivery, Call Tracking, Online Follow-up, Social Media Follow-up, Social Match, and LeadMatch technologies. No need to be an expert in multiple types of digital technology. Just upload a processed mailing list with an ad or two and the platform does the rest.

As you can see, there are great platforms to choose from to enhance the effectiveness of your direct mail campaigns. In 2019, your customers and prospects expect to engage with you on multiple channels. Create more powerful direct mail campaigns by integrating them into a multichannel experience. Become one of the statistics above. Marketing experiences really matter and can make the difference between an okay campaign and a fabulous one. Are you ready to be fabulous? Get started on integrating your direct mail with other channels.

10 Must-Attend B2B Marketing Conferences for 2019

It’s encouraging to see a resurgence in the quantity and quality of B2B marketing conferences and trade shows these days. For a while there, I was worried, as event after event went dark. Part of the upturn is due to the growth of the proprietary client conference.

It’s encouraging to see a resurgence in the quantity and quality of B2B marketing conferences and trade shows these days. For a while there, I was worried, as event after event went dark. Part of the upturn is due to the growth of the proprietary client conference, where B2B companies host clients, and often prospects, with an array of educational and schmooze opportunities.

Sirius Decisions, Terminus and Marketo are prime examples. But other events have emerged, too, to support marketers seeking information on martech, data, personalization, ecommerce, social media and other challenging topics.

Here’s a lineup of top-quality conferences scheduled in the remainder of 2019:

Mostly B2B, featuring a keynote by thought leader Matt Heinz, and sponsored by ON24.

Organized by Demandbase, with a free livestream of the keynotes for those who can’t attend in person.

Worth a jaunt across the pond.

Now folded into the Adobe Summit, this event has grown to 15,000 marketers. Wow.

Chaired by Scott Brinker, focused on technology tools for B2B and consumer marketers. Martech East runs in Boston, September 16-18.

Digital marketing and e-commerce for manufacturers and distributors. Where industrial marketers meet.

Covers the gamut, from product management to channel marketing, and everything in between. Plus, a touch of start-up and innovation content.

Featuring popular speakers like Gary Vaynerchuk and Geoff Ramsey, with an emphasis on brand and advertising topics.

This lively show continues to grow and thrive. Not 100% B2B, but just about.

My favorite. It claims to be “The best B2B marketing conference on the planet,” and as a frequent speaker and attendee, I can attest.

Save the Date for Next Year

 

A version of this article appeared in Biznology, the digital marketing blog.

7 B2B Marketing Predictions for 2019

From chatbots to data-driven marketing, from the inevitable backlash against martech to the broadened use of social media, Ruth Stevens presents her seven predictions for what’s to come in 2019 for B2B marketers.

Crystal BallI am adding my voice to the chorus of observers who predict various developments in 2019 for B2B marketing. My policy is to avoid reflecting on my past predictions, which are likely unrealized and full of errors. Instead I shall boldly go forth, with my sense of what we are likely to see this year, and damn the torpedoes.  My B2B marketing predictions — seven in all — range from marcom to data. Your comments are welcome!

  1. B2B marketing communications become more human. Our field has long focused on selling to entities — accounts, buying groups, with rational, specific needs — and so we tend to stick to the facts. But it’s time to be more human. To talk to the buyers as individuals, in a language that moves them. So Forrester predicts, and I agree. I applaud Gyro for taking the initiative on some very interesting research around this topic. The study reveals the feelings business buyers seek in response to our offerings, feelings like confidence, optimism and accomplishment. Let’s give it to them!
  2. An inevitable backlash against martech. The backlash is already starting, but look for it to pick up. I wrote about this in 2014, saying we must not confuse marketing automation for marketing strategy. As martech grows, inevitably B2B marketers are realizing that it’s not the silver bullet they had hoped for. Justin Gray, founder of LeadMD, points out that only about 1% of deals can be tied to MA. We’ve got some ‘splainin’ to do.
  3. Marketers will finally supply sales with the help they really need. My fervent wish, anyway. Tip of the hat to Gavin Finn, who eloquently explains this need in a recent Entrepreneur article. If we marketers are not helping sales communicate a differentiated value, producing truly effective content, and developing insight into the detailed needs of the buying group, we should all fire ourselves.
  4. Broaden the use of social media. Social is no longer a nice-to-have in B2B. It requires thoughtful strategy, real budget, and a keen integration with the rest of the marketing mix. Plus continued experimentation with new opportunities. Video will continue to grow. And B2B marketers will try new channels, like Quora, a place where people pose questions and get answers from other individuals. It’s ripe for business problems to be solved.
  5. Chatbots go mainstream. Perfect for B2B, chatbots serve global customers, around the clock, with fast, accurate and cheap service. This is all good.  But my favorite benefit for B2B marketers? Chatbots give you a third method for turning your website into a lead generator (after web form-fill and IP address identification). And the AI continues to improve, daily.
  6. Will CX be the B2B buzzword of 2019? Like ABM in 2017, and intent data in 2018. I’m predicting a surge of interest in the power of providing superior customer experiences — not limited to digital, but across all customer touchpoints in B2B. Think about it. We operate with a limited universe of customers and prospects. We are burdened with long sales cycles, but the payoff is high-ticket sales. We can’t afford to lose an account.  CX is the next competitive frontier.
  7. As ever, B2B success is undergirded by data. Marketers will continue to understand, and act upon the need for clean, complete and accurate data coverage of their market opportunity.  This is why Theresa Kushner and I published B2B Data-Driven Marketing, soon to be available via Kindle.  A new study from MX Group confirms: The Number 1 characteristic of top performing B2B firms is “Have good data.”  What’s Number 2?  “Have effective lead follow-up,” of course!

Happy 2019 to us all.

A version of this article appeared in Biznology, the digital marketing blog.