A January 13th Forbes.com article By Alex Konrad titled, “Wearables And Marketing IPOs: Why A Top Forrester Analyst Jumped Ship For StrongView,” talks about how former Forrester analyst, Rob Brosnan exited the analyst firm to help take cross-channel marketing company, StrongView, public.
The story cites the recent acquisitions in the space – Salesforce.com’s acquisition of ExactTarget, Oracle’s acquisition of Responsys and Adobe’s acquisition of Neolene. Certainly, these acquisitions have had a ton of hype in the news, but email and cross-channel marketing are only a small component of a marketer’s puzzle.
There’s no doubt that email and cross-channel marketing platforms provide the means to get messages to customers, but to be truly successful, marketers must leverage a powerful analytics engine. Why? Big data reveals more about customers than marketers can probably even dream of (while being completely ethical, of course).
For example, if you are a retail marketer, you might want to know about the brands your best customers are buying, what types of items are purchased and how frequently they buy so that you can communicate with them accordingly. Customers want to know that they are special, that they are getting the best products at the best prices and that they are being listened to.
Just to frame the retail example a bit, if a health and wellness retailer knows when a customer is about to run out of their most frequently ordered health supplement, the retailer might send a reminder about reordering. How does the retailer know when the customer will run out? It’s simple – analytics data.
Analytics tells the health and wellness retailer a customer’s story – when the customer placed his or her last supplement order, how much of the supplement they ordered or whether they bought online or in a brick-and-mortar store. In this case, sending the right offer to the right person at the right time is in the customer’s favor and leads to a trusted, ongoing relationship with the retailer. And added profits for the retailer are a perk too.
At AgilOne, we’ve seen our clients triple their margins, grow overall revenues by 30 percent, and retain 20 percent more customers.These numbers easily build the case for analytics adoption.
Instead of placing so much emphasis on the potential of email and cross-channel platforms, the media and industry overall should really take a strong look at the analytics part of the equation. Analytics is providing big wins – so really, the analytics space is the hot place to be.