Digital Marketing + Data Science = Programmatic Marketing
Salesforce CEO Marc Benioff said at a recent conference: This is a huge shift going forward, which is that everybody wants systems that are smarter, everybody wants systems that are more predictive, everybody wants everything scored, everybody wants to understand what’s the next best offer, next best opportunity, how to make things a little bit more efficient.
————————–
People have a funny way of voting with their wallets. If marketers give customers something of value along the journey, they click, view, share and buy more.
The retail store that does not have a meaningful relationships with the consumer is dead or going to be dead.
But meaningful relationship are easy to engineer. Today’s marketer is faced with an almost impossible task: Create relevant, individualized journeys for a customer whose channel preferences, purchase behaviors, and tastes evolve with unmatchable speed.
The cutting edge in data-driven digital and mobile marketing is “marketing in the moment”, which is the ability to identify and optimize precise moments of marketing influence across multiple channels and devices. In digital advertising, firms like Facebook and RocketFuel are using continuous scoring algorithms that score each moment to predict whether an individual will react favorably to an ad shown (display ads, search, social media and video) at a given time.
So how do marketers (and advertisers) understand what their audience wants or will see as valuable? That’s where data science comes in. When you strip away the rhetoric, data science is just about finding meaningful insights through analyzing large datasets.
Data Science is increasingly fueling data-driven digital marketing strategies at cutting edge firms…. Marketing learns, acts, and evolves across the consumer journey. Programmatic real-time bidding platforms is growing to dominate ad spending.
“Marketing and Advertising That Learns” Strategies
The Chief Digital Officer (CDO) – Defining this Critical Leadership Role
“Today’s CEOs are starting to take active roles as the de facto chief digital officers within their companies. Digital transformation is a CEO-level conversation, we’re in the board room, presenting to the board. In the last three weeks, I’ve had more conversations with CEOs around transformation than in my entire career.” Salesforce CEO Marc Benioff
“Everything we (Starbucks) are doing in digital is about enhancing and strengthening those connections [with our customers] in only the way that digital can and only the way that Starbucks can. “ Adam Brotman, Chief Digital Officer
“Financial assets are all digital. That’s where your customers are and you want to be where your customers are.” Steve Ellis, head of Wells Fargo’s innovation group.
———————
New Technologies | New Possibilities | Design Thinking
Consumerization, data-driven digital engagement, insightful multi-screen and multi-channel user experiences are increasingly taking center stage. Companies are building up their Digital DNA to engage with customers, blend physical, digital and virtual elements, and interact via new channels.
There is often a big difference between the digital experience companies deliver and what the consumer is looking for. Most companies flat-out miss this point. As a result, there has been an exponential increase in executives being assigned Chief Digital Officer (CDO) titles.
In fact, there have been a tremendous proliferation of new XO titles that all focus on the customer, innovation, omni-channel platform and revenue growth in some form or fashion:
- CDO – Chief Digital Officer
- CDO – Chief Data Officer (data is at the heart of digital today)
- CCO – Chief Consumer Officer or Chief Creative Officer
- CXO – Chief Experience Officer
- CIO – Chief Innovation Officer
- Cross Channel Customer Officer (also Chief Revenue Officer is title i am coming across more)
In this article, we focus on the Chief Digital Officer (CDO), an executive who is in charge of emerging digital customer experience and next generation experience (e.g, Augmented Reality or Speech Driven UI). Wikipedia describes the CDO as an executive who helps a company drive growth by converting traditional “analog” experiences to digital ones, and by overseeing operations in the rapidly-changing digital channels: mobile applications, social media and related applications, as well as web-based information management and digital marketing.
CDO roles are permeating every large consumer facing organizations.
Data Driven Digital Transformation, Engagement and Experience 