Marketing Technology and Personalization
To have case studies, as well as an industry outlook on personalization across the total marketing technology (martech) stack which would include advertising, website conversion rate optimization (CRO), and customer service. Additionally, to have industry facing trends and any forecasts for personalization in martech.
- For the purposes of this research, we have defined marketing technology (martech) as the blending of marketing and technology. Virtually anyone involved with digital marketing is dealing with martech, since digital by its very nature is technologically-based. The term “martech” especially applies to major initiatives, efforts and tools that harness technology to achieve marketing goals and objectives.
- Personalized marketing is hardly new, but it has evolved greatly over the last few years thanks to the power of rich media content and technologies like AI and machine learning. In fact, according to Salesforce research, 6% of e-commerce visits that include engagement with AI-powered recommendations drive an uptick in 37% of revenue.
- Amazon is a great example of a company that did this early on by serving up suggestions based on similar purchasing patterns and the customer's purchasing habits. This was incredibly effective and is now ubiquitous.
- Personalized videos can provide a great opportunity for brands to engage with consumers and help create viral social campaigns.
- The global volume of consumer data flowing across the internet is expected to reach 212 exabytes per month in 2020. With so much data available, it’s easier and even more of an imperative for marketers to personalize their campaigns as per the needs of specific customer segments.
- AI-based personalization can help to target campaigns towards specific audience types, improving relatability and impact.
- A survey of more than 3000 consumers in North America revealed that 63% expect personalized services and want promotions/offers tailored to their needs.
- A 2019 survey by Arm Treasure Data and Forbes found that the majority of marketers are struggling to achieve the level of personalization they need. Only 21% said that their efforts were “highly successful.”
Customer Service Case Studies
- Switzerland-based telecommunications company, Swisscom, was looking to give customers a personalized digital experience to stand out against the competition. It partnered with Adobe Experience Cloud to learn from website visitor behavior. By monitoring the number of visitors, sales, downloads, and uploads, it made micro-elements like Calls to Action and banner colors more impactful. This improved performance by 40% on average.
- GAP turned to AI to personalize its marketing strategy. It built a proprietary customer data platform (CDP) and implemented AI techniques for customer resolution, segmentation, and clustering. GAP has also partnered with AI startup, Amperity, to further strengthen its tech stack. As a result, the company’s digital marketing uplift efficiency increased by 50% from 2018.
Summary Of Our Early Findings Relevant To The Goals
- Our initial hour of research was spent determining the availability of public information on the stated goals, and then providing insights surrounding marketing technology as it pertains to customer service. We also provided two case studies.
- A geographic focus was not provided to us, so we assumed a global focus. If a more targeted approach is desired, for example, the United States, this would have to be clearly communicated to us in any reply.
- Please select one or more of the options provided in the proposed scoping section below.
Proposed next steps:
You need to be the project owner to select a next step.