We hope you all had a great holiday! We’re back this week with predictions for 2019 – ‘tis the season, so they say. Since 2010, BlueConic has been building a technology that allows marketers to unify and activate their customer data. Our customers have done tremendous work to get to where they are today – whether it’s WEHCO achieving 100% subscription growth or Raen Optics who saw a 20% increase in conversion and 12.5% increase in average order value by providing relevant customer content. As we continue to help our customers achieve growth, here are four predictions we are keeping in mind as we move into 2019:
Marketers will actually get a handle on machine learning to help automate and increase efficacy of programs.
In the last few years, machine learning has not been much more than a vaguely aspirational buzzword for marketers. 2019 will be the year marketers really incorporate machine learning to create relevant experiences and gain efficiencies in key marketing processes, like segmentation. Tools like BlueConic already empower marketers to create more dynamic, precise segments and to contextually personalize content. But next year, they’ll have enough unified, first party data to optimize machine learning models and be able to give consumers what they need in the moment. Rather than using a combination of segment data and behavioral data to guess, they will configure tools to act in real-time on predictors like propensity to buy and next best action. Marketers will employ machine learning to truly understand and predict customer lifetime value – and to act on it continuously.
Marketers will crack the nut on how to sell a CDP internally
In 2018 Customer Data Platforms (CDPs) were everywhere and the big question was “What exactly is a CDP?” And, just as often, it seemed the story was, “What is not a CDP?” (hint: not a DMP). But now, marketers have a real understanding of the value of CDPs to unify and activate their customer data without sacrificing transparency, control, or accessibility. The business case for CDPs is quite clear: CDPs enable fundamental improvements in marketing outcomes, measured by gains in operational efficiency and speed to market; the monetization of new and existing audiences; and measurable gains in the effectiveness of interactions and experiences. By integrating with the entire martech ecosystem, a true CDP liberates customer data, so that marketers no longer have to sacrifice data integrity, control, or scale to activate their most valuable marketing asset – first-party customer data. CDPs continue to deliver on their promise, and next year, marketers will have the benchmarks to prove it.
CDPs continue their mission to bring data into marketer’s hands – and now, with second party data.
The value proposition from CDPs has traditionally been centered on first-party data. With increased coopetition in the marketplace, brands find the need to also share their first-party data for a better understanding of the full customer experience – and not just with their product, but in more broad categories. While DMPs have traditionally provided second party data to create robust segments for targeting – data in a DMP is anonymized and aggregated making marketers infer behaviors of an individual based on their segment rather than definitely knowing it. Brands that leverage second party data directly from the source maintain the transparency and integrity of the data – and are able to act on it.
Marketing Technologists roles become a strategic investment for companies.
Dedicated Marketing Technologists teams are growing and for good reason. Back in 2014, HBR wrote about the Rise of the Chief Marketing Technologist. According to a Gartner study, 26% of all enterprise organizations have a dedicated marketing technology team, and on average, each team has 25 FTEs.
In 2019, we’ll continue to see the role and the responsibilities of marketing technologists grow. Marketing technologists are often the “product managers” of the marketing technology stack ensuring efficient and effective use of technologies. Their role becomes more critical as companies continue to optimize their tech stacks through both new acquisitions and consolidation. Learn how a CDP helps you achieve these objectives by scheduling a demo today.