Good morning, did you get value from MarTech?

I hope you found time to attend at least some of our virtual conference sessions last week. If you missed anything, you’ll find it online here (registration to watch the content on demand is free).

I still need to catch up on some presentations I missed, but some of the themes of the conference were clear. If I had to pick out one, it’s the way in which the customer experience has taken on more importance and more urgency this year — even for brands still finding their digital feet.

From that node you can link to a whole range of different topics: personalization, empathy, brand values, AI, you name it. That’s how my conversation with Christopher Penn of TrustInsights.ai evolved, as we closed the conference out with MarTech Live on Thursday afternoon, looking back over the week and into the future. You can watch that one here.

Kim Davis,
Editorial Director, MarTech Today

 
 
 
MarTech
 

How martech was used in the reorganization of Thomson Reuters

What could be more valuable than a detailed, step-by-step walk through a major digital reorganization by a global brand? That’s what Steve Scotkin, Senior Director of Marketing Technology at Thomson Reuters, provided in his invaluable presentation at MarTech last week. 

That reorganization included a restructuring of their martech stack that has resulted in saving 600 Full-Time Equivalent (FTE) personnel hours every month by putting in automation, defining processes, removing redundancies, and implementing common workflows and toolsets.

The objectives included growth, beginning with collecting and leveraging internal and external data to identify new revenue opportunities; profitability led by a reduction of redundancy and operational costs by streamlining technology; and the deployment and integration of SaaS technologies for connected omnichannel experiences for customers and prospects. There were also the aims of reduced costs and a seamless experience for employers and users across all channels. 

Read more, and find a link to the full presentation, here.

 

Webinar--Essential Data Connectivity: IT Hacks for Your Martech Stack

With over 8,000 martech tools in Scott Brinker’s landscape, harnessing data for business can be a challenge. But there are some key ways you can maximize resources between marketing and IT teams to leverage insights for better marketing and business outcomes. Join this webinar and learn how to build partnerships between Marketing and IT teams to manage martech tools and connect martech data to reporting tools for improved real-time insights.

RSVP Today »

 
CX
 

CX maturity can lead to business success

A new report released by the Enterprise Strategy Group, in partnership with Zendesk, matched CX criteria against business outcomes, finding that small businesses were likely to have grown customer spend — even during the pandemic — if they scored highly on CX-related capabilities. (The score was established through surveys of over 1,000 companies.)

Comparing businesses with six or more key capabilities with place against those with three or less, the report found 9.2 times the likelihood of significant growth in customer spend, and 3.6 times the likelihood of growing customer base among small businesses. However, less than half (47%) of small businesses have moved beyond the lowest level of CX maturity.

Why we care. CX, rather than product, service and price, is where businesses can compete. The experience extends from brand awareness and top-of-funnel messaging, right through to post-sale service. Small businesses can benefit even more than the enterprise, this report suggests, but may be lagging in ability to invest in CX. 

 
Advertising
 

Increasing ad conversion

Marketers are using more advertising channels as part of the digital transformation, but that does not equal higher conversion rates, said Eric Eden, chief marketing officer at Postclick at The MarTech Conference. For higher conversion rates take a comprehensive review of your campaign, beginning with in-depth analysis of what is being converted. 

“Achieving advertising conversions is more than getting lots of clicks,” he said. 

To further increase conversions, make sure images actually engage, inform and provide a call-to-action and don’t just serve as graphic placeholders. Content may need to be adjusted to predominantly feature benefit-oriented headlines and body copy that is easily skimmable and not in traditional text paragraph format. 

Finally, use the upcoming holiday season as an opportunity to try out new promotions and pricing incentives through advertising channels, from newsletters, email campaigns, social media platforms and text messages. 

Registered attendees can watch the session here. 

Why we care. The increase of omnichannel campaigns means the channels need to be separated and analyzed based on individual conversions. Don’t be afraid to abandon low-performing channels mid-campaign for ones that continue to show higher conversion rates. 

 

Catch up with what you missed at MarTech

Couldn’t attend live? Register now for free to watch all of the tactic-rich sessions, case studies, demos, and keynotes that you missed!

Start watching now »

 
 
 
Quote of the Day
 

“(W)hat we fail to understand is that most of the consumers expectations were almost the same even before the crisis. The request for increased safety measures, extra hygiene and social distancing were the only ones added. Consumers wanted most of the things they want now even before COVID-19. This pandemic only put a bigger pressure on retailers to move faster and stop postponing the adoption of technology for ‘when we’ll have budgets and time to explore innovation.’” Corina Mihalache, Tokinomo.