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Data that Drives Engagement
By Scott Litman and Matt Meents, Managing Partners at Magnet 360
Marketers have been on quite a journey over the past 10-15 years. They’ve moved to a land of technology, learning to speak the languages of SEO, email, and social, among others. They’ve built sites, apps, and systems to reach their customers and run their businesses. But marketing at the pace of technology innovation has left them with multiple disconnected systems, and customer data scattered across the organization and Internet. Moving forward, marketing through new technologies won’t be enough. The next marketing revolution will require total integration of these systems to leverage this customer data so they can be smarter, faster, and more agile. That’s why a new study from Gartner predicts that by 2017, the CMO will spend more money on information technology than the CIO. A recent article in Advertising Age put it even more bluntly, saying “the CMO will have to harness customer data and leverage it, or risk being relegated to chief promotions officer.”1 In that article, Forrester’s Dave Frankland pointed out that “the best CMOs inherently understand customers at a macro level. This allows them to get in the customer’s head at a micro level.” And Forrester’s Josh Bernoff added, “the only sustainable competitive advantage is knowledge of and engagement with customers.” We couldn’t agree more. In order to go from being reactive to proactive, marketing leaders must learn to leverage their internal and external data to drive better relationships. They must become more engagement-focused, integrating all customer data from point of sale systems, eCommerce, call centers, email, websites, loyalty systems and social networks. And they must leverage this data to enable agents, sales reps and marketers to deliver smart, relevant offers and services to their individual audiences. In a competitive landscape, marketers that embrace this thinking will earn trust, win more business, and generate competitive advantages over those that don’t. Our mantra of “Engagement for Outcomes” embraces this new way of doing business. We live to help our clients connect marketing to IT systems, leverage their data, and create better relationships to their customers. We do it by putting their customer at the center of the business universe, and combine engagement strategy with our Magnet core services – CRM, analytics, user experience, marketing automation, and application development – to build systems that leverage IT to enable marketers to achieve those results. At Magnet 360, we use Salesforce.com’s CRM solutions to integrate key systems to a common point, identify the important information in those systems, and create business rules to deliver that information to the right people at the right time. This gives our clients a competitive advantage because as they learn more about their customers, they are better positioned to do smart things for those customers. And over time, the system builds on itself, feeding increasingly detail-rich information that lets them continue to be more and more relevant with each interaction. (continued on back...)
The Social Enterprise Agency™
We’re a new breed of technology services firm, combined with marketing and agency prowess – bringing our clients the right blend of strategy, technology, and creative to help them engage their audiences in meaningful and measurable ways. Magnet 360 is a Salesforce.com Cloud Alliance Partner, consultant and developer since 2004, helping businesses enable the Social Enterprise vision with an integrated CRM strategy – built around the customer profile to provide greater insight and engagement with every interaction.
“When CMOs Learn to Love Data, They’ll be VIPs in the C-Suite”, AdvertisingAge, February 13, 2012
Meet some of Magnet 360’s clients:
ABOUT THE AUTHORS:
Matt Meents co-founded Reside in 2001, and merged his successful Salesforce and cloud consulting business with partner firm Magnet 360 in 2012 to create the new Magnet 360: The Social Enterprise Agency™. Matt’s visionary – and adaptive - leadership has been key to the ongoing growth and success of the business. Recognized as a Twin Cities’ “Young Entrepreneur of the Year” (Business Journal, 2010), Matt consistently pushes the boundaries of innovation and entrepreneurialism to drive results, with a passion for solving clients’ business problems. A graduate of the University of St. Thomas, Matt holds a B.S. in Entrepreneurship with a minor in Computer Science. Scott Litman is an entrepreneur and visionary leader who has spent nearly 20 years growing marketing services and technology businesses into industry powerhouses. Common themes have included innovation, entrepreneurship and an ability to recognize emerging marketing technology and on how to bring to market—whether in his own ventures or those of his clients. As the Managing Partner of Magnet 360, Scott enjoys the opportunity to advise clients on the best uses of integrated marketing technology and services. Scott has twice been recognized as a finalist for the Ernst & Young Entrepreneur of the Year, he has been a finalist for the MHTA Tekne award and he has been recognized by the Business Journal as one of 40 Under 40. Most recently, Scott was named by Twin Cities Business as one of 200 Minnesotans You Should Know.
(continued...) You may be thinking, “That sounds great, but integrating all of our technologies and data sources would be a massive – nearly impossible – project.” And you’d be right. In a world where technology and communications move at the speed of social networks, marketers can’t afford to be sidetracked by giant IT initiatives. Which is why we suggest: start small. Don’t try to boil the ocean. Instead, identify one initiative that you believe could deliver the most impact, the most engagement, and the most insight – and start there. Adopt a Google mentality of acquiring information, and testing often. Don’t be afraid to fail fast and fix faster. Because, with all of this new information and insight available, the cost of missing out on these opportunities far outweighs the cost of looking for them. Businesses that tap into this data will find ways to do smart things and impress their customers. Those that sit on the sidelines will miss out on valuable opportunities. So, what’s the take-away? Here’s what we suggest to unlock the data and create more relevant marketing messages: • Analyze your systems and CRM. Take inventory and assess the customer information you are already collecting, and determine which pieces can help identify opportunities and create more relevant messages for your customers. • Start (and integrate) the conversation. Your customers – whether they are B2B or B2C – are creating content and conversations on the web. If you’re not part of the dialogue, you are missing unique opportunities for high-quality engagement. And if you’re not tying these interactions back to your CRM hub, you’re missing the chance to really get to know your customer. • Adopt a mentality of aggressive testing. In the digital world, we have plenty of data, and unlimited opportunities for testing. So, take some of this data, test it aggressively, and optimize from that. The marketer’s world is one of constant evolution and adaptation – the next phase of which is the certain convergence of Marketing and IT. At Magnet 360, we embrace the future of marketing with excitement about the opportunities it presents for businesses and their customers. We partner with marketing leaders on their journey to become integrated, social businesses by deploying technology solutions that deliver engagement-rich solutions. If you are ready to talk about the future, we are ready to help.
Ready to talk about your next marketing move? We’re ready to listen. Let’s connect.
phone: 612.230.2500 web: magnet360.com twitter: @magnet360