Data, The Currency For New Marketing
Today data is not just the new oil, it’s the currency. A currency for marketing. Today, marketers have so well mastered the art of knowing the customer-leveraging customer data – that it’s almost impossible that the customers will not buy their(marketers) products. The products are usually just tailor-made to suit customer needs.
Today the world is so hyper-connected, with consumer data all over the place. If it is not information about their preferred holiday destinations, it is about their residential areas or choice or favorite sports or meals. It can also be data about their careers, families, to an endless list. This information, also called blanket data, makes for a perfect currency for trade in the marketing industry.
Marketers, all thanks to technology that has enabled the proliferation of such data, have and continue to recognise the need to harness this data in customising products for their intended and prospective customers.
“Today, marketers know their customers so well that they can craft products and campaigns that are intuitive and useful for them (customers). Data does exactly that,” said Laura Chite, CEO CIO Africa at the premier Africa Martech SUmmit. Laura was speaking when she welcomed delegates to the first of its kind summit, themed to integrate technology into marketing across the continent.
Also speaking at the hybrid summit was Faruk Jazic, ECEMEA Sales Director at Oracle who opined that the future of marketing in Africa is digital. Faruk, delivering his keynote address said, “A shift from traditional marketing methods to a new agile way will help marketers better navigate the unpredictable marketing ecosystem in Africa. The future is digital and there is no turning back.”
The change to digital marketing has however posed a challenge. Many marketers while trying to incorporate new technologies into the old models of marketing end up frustrated with the results. Dr. Betty Addero Radier, Chief Executive Officer, Kenya Tourism Board advises that marketers choose what technologies work for them depending on their business models. DR. Radier spoke while officially opening the Africa #MartechSummit.
She said, “I am so certain that you’ve come across customised video ads while browsing on your internet explorer. Or better still, that you like your smart e-commerce platform customised from your data. All that wow feel that you get every often is due to the use of data technology in marketing.”
She added that every business needs to build its brand value from an informed customer insight perspective. These insights she stressed, must be informed by customer data. She further avered that while leveraging data for business insights, marketers must try different technologies as what worked for one business must not necessarily work for another.
“Be very decisive when leveraging marketing technologies, as not all Martech will work for you.” Dr. Betty Radier.
While at it, Ronen Ehrenreich, the CX Senior Solution Engineer at Oracle says that marketers should leverage omnichannel technologies for enhanced customer experience especially with a client base that does not just go online but rather stays online.
“80 per cent of people who visit your website will move on if the website fails to load in 3 seconds,” he said. “Leverage omnichannel technologies for an agile and seamless end-user experience to thrive at digital marketing.”
Ronen assured marketers to reach out to Oracle for help with solutions committed to helping build customer relationships that last.