3 IMM Trends to Watch in 2015

Happy New Year! As we look ahead this year with confidence in our ability to reach those aggressive goals and objectives, it seems that all the great marketing will be done by organizations who are customer-centric, nimble across channels, purposeful in messaging and timing, well-organized and collaborative and, perhaps as an underlying imperative to all of those … in control of their technology. CRM and Integrated Marketing Management (IMM) are core areas of marketing technology investment and opportunity for all of us. I summarize the (near) future of IMM with three words: Data, content and automation.

Happy New Year! As we look ahead this year with confidence in our ability to reach those aggressive goals and objectives, it seems that all the great marketing will be done by organizations who are customer-centric, nimble across channels, purposeful in messaging and timing, well-organized and collaborative and, perhaps as an underlying imperative to all of those … in control of their technology. CRM and Integrated Marketing Management (IMM) are core areas of marketing technology investment and opportunity for all of us. I summarize the (near) future of IMM with three words: Data, content and automation.

1. Data. A recent Oracle study projects that big data will be a $50 billion business by 2017. This continued understanding and utility of big data means bigger budgets for analytics, which grew significantly in 2014 and many analysts expect will continue to grow across industries in 2015. Getting big data and marketing analytics right is the No. 1 imperative for companies who wish to lead their markets. Bad or “dirty” data across businesses and the government will cost the U.S. economy $600 billion dollars a year, and many companies are realizing the opportunity cost of not collecting, owning and analyzing their data.

For IMM strategies, using big data is all about connections. Good IMM solutions will help marketers connect business lines, cross-channel customers, loyal brand advocates and dispersed employee bases.

2. Content. We’ve seen social and content come together in 2014 to begin to build an integrated marketing strategy for many marketers. Brands ramped up their content marketing efforts in a big way, and so 2015 investment will add analytics to the mix and focus on ROI to quantify and benchmark these efforts. Good IMM technology and practices helps to operationalize all that content, matching it with lifecycle stage, real-time advertising and insights from analytics and the budget. The result should be higher quality content that is unique to customer and channel. Repurposed content across social networks is not going to cut it any more.

“Know thy customer” will be the mantra of CRM and IMM for 2015. Companies that succeed will be nimble—not only with content that integrates and personalizes campaigns, but also in the resource management and planning process. We are big fans of strategic planning here at TopRight, but budgeting needs to be flexible and responsive to market, customer and competitive change. Managing dynamic programs in ever-changing ecosystems is at the heart of a great IMM approach. Hot areas of investment will include mobility, social media and technologies, Web analytics and e-commerce.

3. Automation. People don’t want “Brand experiences.” They want “My experiences.” IMM and CRM are critical to understanding each customer as a unique person, with interests and demands that are very personal to each. Automation is what lets marketers act on a lot of those opportunities, provided the data is protected and governed and the risk-mitigated for engines to make social gaffes or predictive blunders. Buzzwords like predictive analytics, pre-targeting and iBeacons have made marketers’ roles more complex, but also more powerful, proactive and measurable. Automation will appear this coming year as part of ad placement and retargeting, programmatic buying and campaign management and optimization.

Are you ready for the challenges that 2015 will bring? Your customer connections won’t occur and repeat without wise investments in your IMM and marketing automation technology. It’s a good time of year to assess your prowess in not just owning, but actually using your marketing technology.

3 Ways Social Communities and Engagement Will Redefine Marketing

The growth of social media provides many new opportunities for brands, including the ability to identify best customers and influencers, and to actively engage those influencers to grow brand advocacy and community. Naturally, it’s this prospect that’s helped fuel the enormous growth in spending across and within key social communities like Facebook, YouTube and more.

The growth of social media provides many new opportunities for brands, including the ability to identify best customers and influencers, and to actively engage those influencers to grow brand advocacy and community. Naturally, it’s this prospect that’s helped fuel the enormous growth in spending across and within key social communities like Facebook, YouTube and more.

But as always, marketers have been pressured to do more with less, particularly in today’s tough economy. That means even more pressure to track and measure marketing program success. For many marketers that success is increasingly defined by engagement and the ability to measure its value and impact on the brand. But what’s the value of engagement?

One of the best studies I’ve seen on this front was conducted by Aite Group. The study looked at the relationship between Generation Y and their banks. It dove into how the level of engagement impacted loyalty, influence, advocacy and sales. Specifically, Aite Group found that highly engaged Gen Yers are significantly more likely to use their debit cards, pay their bills online and receive email.

These users were also more than 3.4 times more likely to use their bank’s website and social networks to research products. Additionally, highly engaged Gen Yers were found to be high-value customers. Specifically, they were 86 percent more likely to open new accounts, 73 percent more likely to recommend their bank and 62 percent more likely to trust their bank.

While the value of engagement is likely to vary by industry and brand, one thing is certain: Social engagement is an important component to add to your integrated marketing tracking and it will have a profound effect on the way you plan, target, execute and measure marketing for many years to come. Here are some of the most important changes you’ll see as a result of realizing the enormous value of catering to highly engaged consumers who use social media and influence others:

1. Media mix allocation tools and research will include social channels. Social will take its rightful place in the marketing toolbox as media mix allocation tools and research include social media platforms and networks as viable options. Business goals, target audience, product type and targeting approach (e.g., geographic, behavioral, contextual) will be re-examined to help marketers prioritize and allocate budgets to appropriate channels, including social — e.g., when a new product launches.

More ambitious marketers will embark on customer research projects to customize these findings for their specific products and targets — i.e., prospects and customers — as social formally joins the budget and planning process.

2. Engagement filtering and targeting capabilities will emerge. The emergence and importance of engagement combined with the growth and increasing activity across social networks and communities will redefine how, who and when you target. You’ll see the emergence of next generation query tools that will allow brands to select and target consumers by applying channel and engagement weightings and filters based on the program or campaign objectives and goals. Highly engaged users will be tapped more aggressively to help launch new products and drive product adoption and sales across the social web.

3. Marketing plans and roll-out strategies will be reinvented. Product launch cycles will continue to be impacted by social channels and emerging technologies. Marketers will become better at not only identifying key influencers and highly engaged users across their respective communities, but also crafting more targeted messages to these audiences to encourage the desired behavior.

As a result, new product launches will be supported by a more formalized and sophisticated roll-out plan. Imagine a world where a new product launch will include a phased rollout. Phase one would include a roll out to key influencers where ideas are exchanged, feedback is collected and enhancements/revisions are made. Phase two would include a soft launch to loyalty or highly engaged users as advocacy and product education continues. Lastly, phase three would include a general or mass market-supported rollout. Communications and tactics within each of these audiences will also be customized to include various communication stages such as education, trial and feedback, and, hopefully, purchasing followed by advocacy.

There’s little doubt the emergence of social media and growth of social brand communities has impacted marketing as we know it. However, bigger changes are in store for marketers as communities occupy an increasing role and influence in the success of brands. This radical sea change requires new thinking and processes.

Marketers who can connect the dots by embracing these new channels and tying social interactions (i.e., engagement) to traditional CRM systems will be a step ahead. However, the real winners will be those that can leverage that data by implementing new strategies and tactics to support the social web and grow brand advocacy and marketing success.