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2024 | Buch

Data-Driven Customer Engagement

Mastering MarTech Strategies for Success

verfasst von: Ralf Strauss

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Technik" , Springer Professional "Wirtschaft"

Inhaltsverzeichnis

Über dieses Buch

Embark on a journey through the rapidly evolving landscape of Marketing Technology (MarTech) with this comprehensive guide. From understanding the strategic imperatives driving MarTech adoption to navigating the intricacies of data-driven customer interaction, this book provides invaluable insights and practical strategies. Explore topics ranging from budget allocation and market potential to data readiness and GDPR compliance, gaining a deep understanding of key concepts and best practices. Whether you're grappling with the complexities of AI integration or seeking to optimize measurement and KPIs, this book equips you with the knowledge and tools needed to thrive in today's digital marketing environment. With decades of industry experience, Ralf Strauss offers in this book a roadmap for success, empowering marketers to navigate the challenges and seize the opportunities presented by MarTech innovation.

Inhaltsverzeichnis

Frontmatter

1. MarTech… The Via Dolorosa into Data-Driven Customer Interaction

Abstract

The buzz around MarTech and AI for the implementation of data-driven marketing and sales requires foremost a clear categorisation of the various categories of IT applications and scenarios covered, stretching from data platforms to analytics and data science, marketing resource management, orchestration, down to multi-channel execution. In order to assess strategies and concepts, since 2019 between 280–370 senior executives in marketing & sales have been targeted by a quantitative survey each year, backed by all-in-all 145 qualitative 1:1 interviews.

Ralf Strauss

2. The Strategic Imperative … Providing the Groundwork

Abstract

Discussions on applications to achieve a data-driven marketing often provide wrong conclusions: applications need to be tied into a 10-level MarTech cube—cascading from strategy, across processes, change management, down to the level of applications and IT architectures. The conceptional groundwork is or should be based upon the customer journey. Contrary to theory, only a subset of companies indicated that an outside-in customer journey analysis and mapping has been conducted. In this vein, fundamental concepts and insights are missing right from the start. “Failure by Design” for projects.

Ralf Strauss

3. Let the MarTech Music Play … Development Phases of the MarTech Universe

Abstract

While the market for MarTech applications has been growing with more than 7000% over the last years, some structures and strategies of the diverse range of market players can be distilled. A maturity assessment demonstrates the different experience levels companies work in … contrary to software vendors and providers. The results are stunning again: while many companies spend large amounts of budgets on the way to data-driven customer interaction, the overall maturity is still pretty low. The more know-how companies have been able to build up, the more they are familiar with processes and applications … the more time they have already spent on those topics and concepts… the more best-of-breed solutions are preferred versus all-in-one suite solutions.

Ralf Strauss

4. I Go Where True (Money) Love Goes: Budgets and Market Potentials in MarTech

Abstract

Despite all uncertainties in economy and politics, companies will furthermore increase spendings in MarTech. The reason: the way into a data-driven customer interaction and hyper-personalisation requires data infrastructures in any case. In addition, the MarTech projects cater to the overall corporate strategy towards digitalisation. Over the next years, companies try to achieve a level of ca. 20–25% of marketing spendings being allocated on MarTech … which would mean to triple in comparison with existing spendings. Consequently, the market potential in terms of software license revenues will continue to grow at a rate of ca. 20 + % across Europe, except the UK.

Ralf Strauss

5. Data Readiness and Data Strategies … Without Data, You Are Just Another Person with an Opinion

Abstract

Across Europe, only 20% of companies rank themselves as “data-ready” … means having a dedicated data strategy for aggregation and activation of data. Data architectures … despite the hype on CDPs … are still in their infancy. New skills and competencies on data management need to be established … whilst experts are not available. The demission of third-party cookies in 2025 latest is pushing data clean rooms, server-side tracking, and first-party tag integration as in Retail Media. Cross-channel IDs are waiting to achieve a stronger footfall in the market, e.g. via the alliance of major telcos such as with Utiq. In parallel, first showcases appear to exchange data and steer interactions built on the blockchain.

Ralf Strauss

6. Online Data Protection According to GDPR: Or: What Is Actually (Still) Allowed? (Dr Simon Menke)

Abstract

While GDPR has been around for a longer time, the consequences and implementation of potential solutions are still lagging. The root-cause: a lack of know-how on the implications in different areas such as online tracking, consent management, the Google sandbox, or the evidence of consent given, following the IAB Framework.

Ralf Strauss

7. Measurement and KPI Optimisation … Oldie, But Goldie

Abstract

Even with large marketing spendings at hand, in the majority of companies marketing planning is still lacking a cascading KPI framework … from strategy down to execution and tactical levels. While as a “lipstick service” marketing planning receives a huge amount of attention, the cruel reality indicates that the quality of planning and data-driven steering is lagging. Backed by huge data science departments, the future will show a higher degree of automation, down to the level of Causal AI, e.g. in marketing mix modelling.

Ralf Strauss

8. Pandora’s AI Box: The AI Tsunami Is Rolling In

Abstract

While in 2022 hardly anybody has had AI on the watch list for marketing and sales, the boom has been initiated with GenAI and ChatGPT at the beginning of 2023. Still, major hurdles come along with the hype on AI: a lack of knowledge, a myriad of tools touch the corporate ground with distributed, dispersed databases. Beyond the hype, a profound conceptional understanding is missing, similar as fundamentals such as data strategy and data consolidation or systematic trainings for employees.

Ralf Strauss

9. CRM Meets Customer Experience: Moments of Truth for the Customer

Abstract

Oldie but Goldie: While the discussions on CRM reach back to the 80s (of the last century), still the majority of CRM implementations are characterised by tremendous costs, going hand in hand with low adoption rates. The comparatively new discussion on Customer Experience Management does not gain traction due to the cross-functional character across the functionally structured organisation, processes, and applications. Companies with a lower level of know-how normally start with Marketing Automation (MAP) and later switch to more comprehensive CRM application scenarios. While loyalty management is nothing new, loyalty programs receive more emphasis due to (a) the strive for first-party data and (b) Retail Media.

Ralf Strauss

10. The New Media Imperative

Abstract

Exhausting discussions on Programmatic stepwise come to an end: due to its efficiency, all channels (also TV) will be managed programmatically. The boosting Retail Media market offers new options for advertisers directly at the point of purchase in the customer sales cycle. Yet, some conceptional issues must be solved in Retail Media, such as the value and contribution for the upper funnel (awareness), the danger for bidding programmatically against oneself, and the provisioning of sufficient reach. While the media market is extremely stable even in turbulent economical phases, so is ad fraud. But … solutions are available for the monitoring of Ad Management, it only requires efforts, know-how, … and time.

Ralf Strauss

11. On the Way to Composability: The Changing Role of IT

Abstract

A steadily growing market, the strive of more experienced companies to go in the direction of best-of-breed solutions requires integration architectures across processes, data, and applications. The mantra of service-oriented architectures becomes a true “second life” after an initial hype around 2010+. In parallel, companies are not willing to pay for software which will not be used afterwards. Newer software license models move to a usage-based (value) pricing, less focussing on the number of users and seats.

Ralf Strauss

12. The Organisation Remains the Digital Construction Site

Abstract

The organisation remains to be the biggest hurdle in all efforts towards a data-driven customer interaction. Current discussions on insourcing are misleading, as neither the organisational structure nor individual competencies appear to be sufficient for just strolling around the “via dolorosa to data-driven marketing and sales”. A new collaboration between business and IT appears to be mandatory, sometimes bundling all necessary competences within an own Marketing Operations function. Interesting to notice: while all companies indicate the necessity for change, hardly any company is using higher valued change concepts such as Lego Serious Play. The interplay between microscopic and macroscopic levels is not addressed properly.

Ralf Strauss

13. Case Studies: Lessons Learned from Other Companies

Abstract

Besides all concepts to a future data-driven marketing and sales, project examples demonstrate the need to structure, transparency, conceptional depth, as well as the required time for implementation. The examples include (besides others) a highly elaborated MarTech stack at COOP Switzerland, to the data infrastructure at Lufthansa, Marketing Automation at Qiagen, Ad Optimisation at Vodafone, IT applications built from scratch at Flaschenpost, down to the usage of the blockchain at Domino’s Pizza.

Ralf Strauss

14. Steps Towards MarketingTech Strategy and Implementation

Abstract

The foundation for success or failure is driven by the project setup. In other words, if projects will become successful or fall behind initial expectations, is defined right from the start as part of the project DNA. The pitfalls in projects also show the way towards successful projects while using global databases for benchmarking, as well as for vendor selection.

Ralf Strauss

Backmatter

Titel: Data-Driven Customer Engagement
verfasst von: Ralf Strauss
Verlag: Springer Nature Switzerland
Electronic ISBN: 978-3-031-64295-1
Print ISBN: 978-3-031-64294-4
DOI: https://doi.org/10.1007/978-3-031-64295-1