1. What are some of the biggest challenges that brands are currently facing when it comes to marketing?
Today, brands are facing an identity crisis, not of themselves, but their customers. With the advancement of Internet of Things and growing number of people connected to the internet (460 million internet users in India). It has become increasingly difficult to identify who your customer is, which device to target them on and what they like. In contrast, Digital Transformation has given us a new way to reinvent Identity Resolution. Once a brand can leverage big data, bridge the gap between the online and offline worlds, and use the many benefits of Machine Learning and Artificial Intelligence. While keeping data privacy and security as a core principle in marketing. They can offer next-gen experiences for their customers through true personalisation to ensure maximum engagement.
2.How do you see data shaping how we market – namely, storytelling and creative design?
Data and storytelling make a winning formula for marketers across the globe. Especially now, that brands are making more use of their first-party data. Today, we use data to inform our marketing decisions, and the creatives that accompany it as well as used the data collected from campaigns can, in turn, inform decisions. It has given rise to data-driven decisions. Brands have also started to rely on additional complementary data sources to enrich their own. For example, we have seen brands using this smartly one of the biggest CPG brands from India, which uses our Identity Data now for Creative Design and even now amending larger Marketing Strategy.
3. Why is omnichannel marketing so important in today’s digital landscape and how does the Internet of Things (IoT) affect marketing across the device spectrum?
Omnichannel marketing addresses the fact that the modern customer is no longer confined to a single channel or platform for interaction with a brand, by striving to deliver a unified brand experience to an existing customer or potential buyer. With the blast of internet businesses and online retail, clients expect the shopping experience to be continuous across the device spectrum. The latest trendy expression for a consistent shopping experience is ‘omnichannel promoting’. The omnichannel client expects everything to be promptly accessible and served consistently. Luckily, retailers perceive that omnichannel is a chance to convey items to their buyers when they need them. Omni-channel organisations are centred around serving the client – consistently – across the device spectrum. As IoT proliferates, this is becoming increasingly harder and increasingly more important. Consumers today are looking for consistent experiences that are proactive, predictive, and personalised.
4.Why is customer data important for personalisation in marketing, and how can this data be used to reach customer-centricity?
Today marketing is interconnected, and customer data is crucial to inform decisions. Brands need to understand their customers and hence efficiently use CRM tools to make sense of their customers and give them worthwhile experiences. Most brands are under the impression that they know their audience. However, we observe time and time again that brands often get this wrong, even when they are using data to guide the decisions. It’s because brands that use low-quality data to inform decisions can expect low-quality decisions. A 360-degree customer view is very important; we at Zeotap provide an end-to-end “Identity Resolution service” and help Brands to understand their customers truly. It can be used to feed their analytics better, and internal propensity models or machine learning algorithms or customer views can be activated and targeted online in terms of digital campaigns. For example, if you already have information that your TG is Female, Age 25-45, drives an SUV & is an outdoor enthusiast and also a Sushi Lover” then imagine what all you can do now with this data.
5.How do new technologies work in adding value to your business?
We’re living in the technology era and have seen brands opting new technology like AI-enabled platforms / 5G / augmented reality / omni Channel platforms with social listening and so on this helps brands on multiple folds. Marketing budgets spend an average of 29% of their total marketing budget on martech. Martech helps brands to gain deeper insights into their audiences and create customised strategies for upselling and cross-selling, churn prevention, and customer acquisition.
6.Which Marketing technologies work best in customer acquisition, retention, and engagement?
A martech stack is truly dependant on firstly the objective and secondly the budget. Some tools are vastly outpriced over others in general cross channel and device-agnostic technology rules. Any tool with stringer analytics capabilities is always useful and helps to inform decision making. Realistically though, technology is advancing at a fast rate, and for a brand, continually adopting new technologies is not always easy and has the potential to silo data. I would advocate for brands to adopt a suitable platform that is built on a newer faster backend as legacy software can slow down your growth. Additionally, a brand must always keep privacy compliance as a core principle and choose a platform that is GDPR and compliant.
7. What type of Martech strategies will you suggest for a business
Brands are investing huge amounts into their martech tools (almost 29 % of your marketing budget goes to fund martech). However, most of them are going underutilised. Salesforce predicted that 43% of brands are failing to utilise even half of their CRMs capabilities. Brands need to turn to 1st party data strategies and then use deterministic, high-quality complementary data to fill in the gaps between data points. These complete customer profile views can be used for an array of data-driven approaches; for example, a bank can better predict churners and personalise their messages to the correct group of people likely to churn to increase retention.
8. What are the major benefits of adopting martech into businesses?
MarTech offers obvious benefits, such as automating processes – saving marketers time, making it possible to manage a multitude of marketing channels with ease – allowing for more complex campaigns across devices and for the storage, aggregation, and use of data to inform marketing decisions. Better marketing decisions mostly result in not only budget optimisation but also better allocation as well as increase acquisition, retention, and customer satisfaction with one specific brand – this overall improves a brand’s revenues.
About the Author:
Imran Ansari is Director, Partnership at zeotap and is responsible for strategic partnership and growth in the region. Imran brings 11 years of experience with him with expertise in Strategic Partnerships, Business Development and, Planning and Advertising Operations.
Previously, Imran was the Business Head with Komli Media (Part of Dentsu Aegis Network) where he was leading the Indian market.
Imran has worked across various facets of the Digital & Marketing landscape & has contributed across Programmatic, Brand, Performance & Video space, He a proven Online Media Enthusiast who knows how to drive results for high growth companies in the India & Overseas Market & Highly successful at building businesses and teams from the ground up. Imran is an MBA (PGPMM) from the International School of Business & Media & is also a “Computer Science Engineer” from GHRCE.