Report of the week: HootSuite’s Global Digital Overview 2020

Top 3 takeaways from the report we discuss:

1.What customer engagement is going to look like in 2020 and beyond: leveraging employees as a crucial link in CX

2. Will marketers find their ‘purpose’ with video in 2020? 90% of internet users said watching videos was their number one activity online- how will marketers’ approach video content to drive business outcomes – especially with a growing list of martech vendors that enable video production in pennies and minutes?

3. Thinking about ‘what is the best investment in voice in our context’? One of the biggest surprises with Voice is that it’s turning out to have more applications at the back of the house than in customer-facing applications. Worth tracking for B2B especially.

4. Finally- the increasing scope of social media marketing- again a lot of confusion over the purpose (Engagement? Brand building? Customer service? Leads? Social commerce?) and the business outcomes one can expect from investments in social media marketing, even as expectations grow.

Trend of the week: Second-party data

LiveRamp launches Safe Haven for data partnerships

David explains in laymen terms what second party data means, how marketers can get access to it, and the business case for its rapid growth.

News of the week: CoronaVirus Workarounds and Disruptions

Here is a list of companies that have come thru with workarounds to help businesses stay in motion:

•CampTek Software Announces Coronavirus Conference Cancellation Bot

•Cappasity to Provide Retailers with Free Access to Its Immersive Technologies to Counter COVID-19 Losses

•Evolve IP Has Been Enabling and Empowering Work From Home for Over a Decade, Offers Collaboration and Virtual Workspaces In a Time of Need

•Microsoft, Google, and Zoom are trying to keep up with demand for their now free work-from-home software

•Odo Security Offers Free Remote Access Solution for Employees Working from Home During the Coronavirus Outbreak

•Oneclick offers Instantly available IT solution for home office workplaces

•StarLeaf supports business continuity during coronavirus crisis including launch of free-to-use collaboration services

•Trustifi Offering No-Cost Email Encryption Licenses to Safeguard the Influx of Remote Workers

•Vidyo is giving away temporary licenses to connect remotely- no strings attached

David Raab, Anand Thaker and Chitra Iyer analyze what the latest announcements in MarTech mean to marketers. Featuring latest CX news from Adobe, Verint, Adobe, Sprinklr, Freshworks, Wipro Digital, Rational Interaction, Thunderhead and Lytics.

Gartner’s recent prediction asserted that 89% of companies will compete solely on CX - the market for CX spending is growing exponentially. And today’s analysis is about that. We first set context on the scope of CX and the core components needed to create a comprehensive ‘CX ecosystem’.

Here are the recent CX news, trends and concepts we analyse on the show:

1. Wipro acquires Rational Interaction, a digital CX consultancy for $52 million. Interesting because technology vendors get the ‘tech’ but probably need help getting CMOs to see how the story and the tech are connected. As Rajan Kohli, President of Wipro Digital says, “[The acquisition] bolsters our end-to-end proposition for CMOs. We’ve combined Rational’s ability to engage and delight through the customer journey with Wipro Digital’s technical expertise and scale”. And Kahly Berg, CEO of Rational adds, “In terms of MarTech, customers need a unified human story and connection built into the technologies that support their experience as consumers”.

2. Sprinklr Releases 400 New Features across its 5 Products: the platform’s 5 components each address a core CX component - marketing, advertising, customer care, social media (which they call engagement) and research/data. The simple structure is nice, in the context of marketers being able to better visualize marketing applications and outcomes of tech investments.

3. Verint Expands Its Adobe Partnership to Support More Personalized Customer Journeys:

Verint is focused on collecting VoC data, and Adobe experience cloud enables all aspects of campaign delivery. We talk about the additional value this could create for Adobe users.

4. Thunderhead Announces Automated Individual-Level Journey Design

The customer journey orchestration engine announced an AI-driven platform to create individual-level optimized cross channel journeys. David explains “The system deals with the interdependencies among events, history, time, and path which overwhelm conventional methods”. Here’s what it means to marketers.

5. Freshworks, a customer engagement software company, acquires AnsweriQ Inc., a provider of ML and AI for enterprise scale. Basically this AI to inform customer service – helping agents sound much smarter and well informed, but also to sell more, and better. Could it be a game changer if it actually works?

And in CDP news this week:

1. Lytics Integrates with Google Cloud BigQuery, To Enhance Its Customer Data Platform: David clarifies what it means for enterprise marketers to move massive amounts of customer and raw data into Google’s cloud-based data warehouse environment for real-time analytics.

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This week we talk about making sensible martech stack decisions in the giant martech candy store; what makes the ‘D2C approach’ work, findings from 3 new marketing surveys; and David Raab’s expert commentary on 3 news items from the identity resolution space.

Section1: talking martech with Pat Maigler, Sr. Manager Marketing Strategy and Operations at Williams Sonoma Inc. (All opinions expressed are Pat’s own, and not representative of Williams Sonoma Inc.)

Top 5 highlights of the discussion

1.Growing into a career in marketing technology: Pat’s journey

2.How marketers have evolved into becoming data-driven decision makers: observations from a 2- decade long career

3.Choosing the right martech tech in the giant martech candy store:

•How to assemble a sane and rational martech stack

•Working with IT as collaborators – not adversaries

•Avoiding frankenstacks: when to choose platforms and clouds versus assembling your own

•How to prioritize strategic needs and satisfy operational needs in your stack

4.The question of integration: do clouds and platform components integrate better than elements in an ‘assembled stack’? How do newly merged or acquired companies deal with integration of martech?

5. What helps D2C marketers punch above their weight; and what traditional marketers can learn from it

Section 2: Highlights from 3 marketing reports that hit the stands this week

1. The State of Branding Report 2020 from Bynder about the use of technology for mainly branding applications

2. The Incite Group released the State of Marketing Report 2020 – which also had some 1000+ marketers responding to questions largely abt content n social streatgies

3. Chief Outsiders, a company that offers Executives as a Services, CMOs to be specific, released a report on CMO priorities for 2020

Section 3: David Raab explains the 3 news items about Identity Resolution this week

1. Merkle Launches Merkury Identity Resolution Platform – what are private identity graphs and what can marketers do with them that they couldn’t do before?

2. 180byTwo Launches Unifi - an AI-Powered Customer Data and Identity Platform for B2B Marketers – after the demise of Radius and the general understanding that B2C is much more conducive for CDP-scale platforms, why this?

3. Kount unveils ‘Identity Trust Global Network’ – what is identity verification and why should marketers care?

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Segment 1: The Growth of First Party Data Tech

David Raab of the CDP Institute, growth advisor Anand Thaker, and Chitra Iyer talk about the rise of first party data tech - from personalization platforms to experience clouds, data integration to CDPs and everything in between.

Highlights of the discussion include:

- Factors behind the rise of ‘first party data tech’

- What’s problematic about ‘consent’ replacing cookies

- Why publishers will make data vendors irrelevant over time (and the trouble with that). Hint: think mini walled gardens and the need for fair data exchange co-ops

- Why CDPs could take over where DMPs left off

Segment 2: The CDP Institute’s 2020 CDP Industry Update

The CDP Institute revealed all the data that’s shaping the CDP industry as we head into 2020, and we have the man himself- David Raab – to answer questions that we think you are thinking. Starting with the over 8 CDP acquisitions in 2019 to the most recent one by Salesforce, to why marketers need simpler labels to help define what the platforms do.

Highlights of the discussion include:

- Why and how the CDP industry is consolidating and why the number of stand alone CDPs will come down

- The Salesforce acquisition of Evergage. Omer Artun, Founder of AgilOne - a CDP that itself got acquired by Acquia in 2019, is now the Chief Science Officer at Acquia. Here’s his comment on the Evergage acquisition: “Salesforce knew they had a huge gap in customer data and customer intelligence. Their service cloud, marketing cloud (Exacttarget), CRM and Demandware don't talk to each other in any customer specific way. They first claimed Krux would become their customer hub, then they bought Mulesoft then bought Dataroma, a marketing dashboard company which they are trying to build a CDP around. Now, they are putting their money behind Everage. However, Evergage is not a CDP - it's web personalization that can handle profiles. Most brands are looking for robust identity resolution, analytics capabilities that can stitch and analyze many sources of data. Evergage can neither stitch in an enterprise manner nor offers analytics with any rigor.” So, how will this acquisition exactly help its customers? We tell you.

- The role of CRM in the data driven marketing landscape and why labels will matter (or not) when it comes to offering CX solution platforms

- Why ‘campaign CDPs’ are the fasted growing CDP segment today (even though ‘data CDPs’ are the most funded)

Get your free copy of the CDP Institute’s 2020 Industry Update for free, from here. https://www.cdpinstitute.org/general

Hail of the Week:

We start 2020 on a positive note with a big hail for privacy related funding:

- SuperAwesome out of the UK (just raised $17 million) for kid-safe media

- SECURITI.ai raised $50 million for privacy technology

- Google is planning to block third party cookies

- Global Alliance for Responsible Media is working to identify and boycott harmful online content

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Brent Leary, David Raab, Anand Thaker, and host Chitra Iyer talk about 5 significant martech themes that will – or should matter in 2020:

1. The Customer Data Management space

• David explains why his biggest milestone in 2019 was Salesforce, Adobe, and Oracle coming out with seemingly legit CDP’s, and “the very specific technical change” they have made since they entered the CDP conversation

• Privacy is the other big significant concept. “It’s getting marketers rethinking how they will approach the concept of customer data”

• Brent: will CDPs finally go beyond marketing and become an enterprise tool?

• Anand: there are 2 drivers of CDP investments. “Privacy is a driver – but it’s a stick. CDPs as an engine for digital transformation/ customer experience is the more aspirational reason why CDP investments will grow – it is the carrot.”

2. Will Adtech and MarTech finally converge to cut out the biggest silo in CX?

• Anand: Silos keep a lot of the possibilities around customer experience wanting

• David: The biggest change is media addressability - that will lead to convergence

• Acquisition activities and retention activities should not be separate – there will be a convergence of every tech possible (we’re calling it ‘omni-tech’!).

3. What’s worth watching in Sales tech?

• Brent: will salespeople finally stop hating CRM in 2020?

• Brent: Voice + AI is going to be hugely transformational for sales tech

• Brent and David: the subscription economy is changing the nature of the sales job

• Anand: the ‘AI-fication’ of sales tasks and the retraining of sales to be value creators are keys to the future of sales – not sales tech per se

• Brent shares his report from what he found the most interesting at Dreamforce 2019.

4. Analytics and the future of data visualization for marketers

• Visualization versus voice or visualization + voice? The panel discusses what will be the most useful for marketers

5. Transformative technologies to look out for

- The vote goes to Voice - with a really smart integration layer that can take voice queries and connect to the right system in the backend

- Is Location the underrated tech we should care more about?

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