Brands aren’t using the full slate of available first-party data

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30-second summary: Invoca surveyed 500 B2C marketers within a range of industries, each of whom oversee a budget of over $1 million, to gain insight into how they view first-party data and what they’re using to access and collect data. 90% of respondents are confident or very confident with purchase history data followed by 86% with company website data. Phone call data was lowest on the list of data sources that inspire confidence. Websites were the number one source of data that marketers used to inform digital marketing strategy, followed by mobile apps and purchase history. Just 26% of respondents listed phone call data as a source that informed their digital marketing strategy. Most marketers don’t have a clear vision of how to leverage data across channels. Respondents who use call tracking were more likely than those who didn’t to invest in both online and offline conversations. 92% of respondents who use a call tracking tool have team members who listen to calls or read call transcripts for the purpose of analysis. 62% of marketers who use call tracking are still spending 20 to 40 (or more) hours per week to manually analyze call recordings. Invoca, an enterprise call tracking and analytics platform that uses AI technology to tap into actionable conversational data, recently published The State of First-Party Marketing Data report. Invoca surveyed 500 B2C marketers within a range of industries, each of whom oversee a budget of over $1 million, to gain insight into how they view first-party data and what they’re using to access and collect data. The report also marketers integrate and leverage offline data such as in-store interactions and phone conversations with digital data such as web analytics, purchase history, and web forms. Content produced in collaboration with Invoca . Brands aren’t taking full advantage of available first-party data Invoca asked marketers about the type of data they have access to, their confidence in different sources of data, and the top three source of data they use to inform their digital marketing strategy. Data confidence is highest with purchase history, with 90% of respondents indicating they are confident or very confident in this source. Company website data came in second at 86%. Confidence in phone calls, though still relatively high at 73%, was lowest on the list of data sources that inspire confidence. Source: Invoca In terms what type of data sources marketers have access …

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Key insights: Agile marketing adoption, when data doesn’t sing with CX, opportunities lost, ecommerce rises again

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30-second summary: Finance, health, and high-tech are the most keen on planning agile marketing transformation 38% respondents mentioned that internal silos were a top challenge for delivering great CX Customer experience influenced customers more than it would have 2 years back 50% consumers would switch brands or spend less due to a CX that lacked personalization There’s a huge, yes huge gap in the engagement and send out rates clearly indicating that businesses lost out on opportunities to capture their consumers’ attention Given the ecommerce slump in March, April has seen a 43% thanks to users wanting to make purchases and paid advertising. A lot can happen in a week, and a lot has happened indeed. Our weekly key insights this week brings you an eagle-eye view of the marketing space, across silos in customer experience (CX), agile marketing, and lots more. Data and silos in CX According to content …

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How to Develop a Winning Digital Marketing Strategy in 4 Easy Steps

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According to Smart Insights , 45 percent of companies don’t have a clearly defined digital marketing strategy; 17 percent of companies have a digital marketing strategy in place, but it’s separate from their marketing plan. This means 62 percent of companies are unprepared. They don’t have the strategy, tactics, or tools they need to market their business well. The bad news is that marketers waste 37 to 95 percent of their marketing budget. This is really common, but it doesn’t have to be; if you have the right digital marketing strategy in place, growing your business is easier. If you’re feeling unprepared, don’t worry. Today we’re going to cover the important ins and outs of creating a winning digital marketing strategy. Why You Need a Digital Marketing Strategy Your digital marketing strategy gives your company direction. With a plan in place, you’ll have the details you need to help your …

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Key insights: Effect of COVID-19 on consumer behavior, the world’s more video content savvy, and Apple shakes up AR

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30-second summary: According to Global Web Index’s findings, 80% of consumers in the U.S. and UK say they have consumed more content since the outbreak. According to emarketer, 49% of marketing professionals and agencies held back a campaign launch until later in 2020 and 45% stopped or paused a media campaign midway. Admoik shared that there was a 17.2% drop in week-over-week ad revenues, direct deal and programmatic guarantee being the biggest drops. Despite the 8.3% decrease of retail industry’s M&A deals, Apple acquired AR technology startup, NextVR for a $100 million with an intention to launch its AR headset in 2022 and AR glasses in 2023. 53% of consumers prefer brands to communicate through TV ads. According to McKinsey, UK, Spain, and Italy are least optimistic, whereas the US (37%) and China (48%) are optimistic about their economies jumping back to normal in the next two-to-three months. Purchases are …

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Only one in five marketers have a strategy in place for optimizing their martech stack

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30-second summary: Ascend2’s Martech Stack Optimization survey asked nearly 300 B2B and B2C marketers how are they addressing the challenge of optimizing their martech stack in 2020. 19% of respondents indicated that they’ve implemented a martech stack strategy, while nearly 60% of respondents are currently working on or developing a strategy. Improving marketing efficiency is the top challenge respondents faced, followed by improving revenue attribution. Data analysis, integrations, and real-time processing are key features that marketers look for when implementing an effective martech stack. Nearly 90% of respondents indicated that they either plan to, or will continue to, invest in their martech stack in the coming year. In January, research-based marketing firm, Ascend2, surveyed nearly 300 marketing professionals to assess how they’re addressing the increasing use of different marketing technologies (martech) within their organizations. The survey, conducted during the week of January 13 th , 2020, was answered by a …

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UX is the top brand differentiator among marketers in 2020

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30-second summary: Bynder commissioned Survata, to conduct an anonymous survey of over 1000 marketing and branding professionals in the US and UK. The goal of the survey was to assess how marketing automation and technology contribute to improved brand awareness and perception. Faster, more efficient content creation is the most effective use of marketing automation. Marketers, by and large, don’t feel that branding can be automated because it produces less brand differentiation and diminishes creativity. Respondents felt the best use of automation for marketing/branding purposes was in creating content more efficiently and faster. Respondents indicated that user experience was the strongest brand differentiator (over brand authenticity and superior product innovation.) About 1/3rd of respondents plan to increase their branded content efforts in 2020. In December 2019, Bynder commissioned independent research firm Survata, to conduct an anonymous survey of over 1000 marketing and branding professionals at organizations in the US and …

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Four steps to ABM fueled targeting for B2B marketers

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30-second summary: Account-based marketing (ABM) is a B2B growth strategy that emphasizes targeting high-quality accounts by creating audience segments and maintaining an account-based funnel. Successful implementation of ABM requires that your marketing and sales teams are coordinated and that both teams approach ABM together. There are four accessible steps that companies can take to switch from traditional leads-based marketing to an ABM. These steps include: understanding the importance of high-value accounts, aligning marketing and sales teams, measuring and tracking what’s important, and investing in the right tools. Account-based marketing (ABM) is a B2B growth strategy that emphasizes targeting high-quality accounts over generating large quantities of leads. While an ABM approach may include both leads-based and accounts-based funnels, the emphasis with ABM is not on maintaining a high volume of leads, but on focusing your resources on fewer, more qualified, and higher-value prospects. Companies that are successful at implementing ABM tend …

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Exponea clarifies the differences between CDPs, DMPs and CRMs

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30-second summary: Exponea created a Knowledgecard, CDP vs DMP vs CRM, which serves as a handy cheat sheet to help clarify the definition and purpose of each martech solution. Customer Data Platforms (CDPs) collect first-party data from online and offline sources in real-time, creating a unified view of each customer that enables ultra-personalized targeting for marketing campaigns. Data Management Platforms (DMPs) segment anonymous third-party data from other websites that can be used to create audience segments for marketing campaigns. Customer Relationship Platforms (CRMs) are utilized by customer-facing teams, including sales, customer support, and client/customer advocates to facilitate managing a company’s relationships with existing or potential customers. CDPs, CMS, SaaS… the world of marketing technology (martech) is punctuated by acronyms representing a host of technologies that can be confusing to parse through, particularly when companies are evaluating what they need to add to their tech stack. Chiefmartec’s infamous graphic, the Martech …

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Five tools that can help you break free from data paralysis

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30-second summary: Data paralysis is a natural consequence of the marketing technology businesses use daily, but there are tools that can help manage the proliferation of data so that it can be used efficiently and effectively. In this post, we review five tools, each of which help mitigate the data paralysis connected to a specific area of data usage including CRM, lead management, business insights, customer experience, and website traffic/campaign analysis. The tools listed here are examples of the technology that exists to help manage and leverage data. There are many more tools available, so be sure to research solutions that fit within your budget and business type. Data paralysis is a real problem. The proliferation of martech tools and marketing touchpoints has created a wealth of data which, while a boon for businesses, can also present challenges when it comes to data management, analysis, security, and consistency. A 2018 …

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The Marketer’s Guide to Gain Brand Mileage on Google Maps

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Are you a local business that serves customers at a physical address? Then you must snatch the golden opportunity to grab consumer attention with the ultimate local guide, on a mobile device including the iPhone and iPad as well as all Android device products. ⅓ of mobile searches are based on location. Overall, local searches are growing 50% faster than overall mobile searches. As of 2013, 70% of searchers used the “ click-to-call ” function directly from the search engine result pages (SERPs). Searches including the phrase “best place to buy” with the applicable product or service keyword grew by 70% between 2015 and 2018. “Near me” searches also rose by 500% in recent years. These include searches like “car dealerships near me” and “wedding dresses near me.” Google also realizes that your business is ‘special.’ And, it released an algorithmic update, in July, 2014, to favor local businesses for …

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How Miracle-Ear used conversational AI to reach customers during a pandemic

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30-second summary: Companies with large franchises in locations distributed across multiple states, face significantly different obstacles and experiences that other businesses. Nataly Huff, the Director of Digital Marketing for Amplifon, discussed about how they combined Invoca’s AI-driven call platform with Amplifon’s BI systems, to address the needs of customers across multiple Miracle-Ear store locations during the pandemic. Invoca analyzes caller data at scale, enabling Huff’s team to determine which states had stores open and where to allocate marketing spend to help drive foot traffic. Invoca’s data was integrated into Amplifon’s business intelligence systems, enabling them to understand down-funnel performance of their channels and campaigns. Amplifon adjusted their marketing based on regional regulations and consumer confidence and made sure that supporting their customers was always front and center. Between consumer sentiment recovery and decreased inventory pressure, Amplifon was able to maintain their overall marketing investment and drive business, while making sure …

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