Last Tuesday 1800 technologists, marketers and business leaders descended on Sydney’s Star City casino for the Adobe Digital Marketing Symposium. With marketing automation and DMPs topping the list of priorities for CMOs and digital marketers alike in 2015– it was little wonder Adobe was playing to a packed house. For those unfortunate enough to miss out on going or for those simply interested in the outtakes – I have compiled my top 5 take outs from the event.
The marketing function must evolve
One of the key themes that consistently emerged throughout the day was that of the ever evolving and changing role of the marketing department and the CMO. With experiences defining the brands of tomorrow marketing must support the reinvention of organisations in the digital age. Robert Rose, Chief Strategy Officer of the Content Marketing Institute, and author of Experiences the 7th Era of Marketing believes marketing departments must evolve in 3 ways to deliver experiences rather than just manage messages;
1) Marketing departments must evolve from organising channels and technology
2) Marketing must be the strategic differentiator
3) Marketers must adapt to create value not just describe it through content and experiences that are created
The new fundamentals of digital – the need to be continuous and consistent
Adobe’s SVP and GM of Digital Marketing, Brad Rencher spoke about “consistency” and “continuous” being the new fundamentals of the digital age. Consistency relates to the importance of presenting customers with an experience that is both relevant to their profile and circumstances. Whilst continuous relates to the way that a brands communications and experiences evolve in response to customers engagement with the brand. With the explosion of personal data now captured by organisations on their customers and the number of connected devices consumers now own – the need for brands to deliver consistent and continuous experiences is paramount.
The importance of connecting the dots
Delivering personalised experiences based on cookies are no longer relevant. With consumers personal device ecosystem expanding – much was spoken about the need for brands to connect the dots by more effectively using data to deliver relevant experiences. Delivering cross device experiences is one fundamental way to do so but it goes beyond this with brands needing to connect the dots between one experience to the next. Google was one example cited of how brands could connect the dots through past interactions. For example say you have an appointment to see the dentist and you use your phone to look up the time it takes to walk via Google maps. The next time you have an appointment (that is in your calendar) your phone alerts you of the appointment and includes the weather forecast as your device knows you have a preference to walk and also provides you with an accurate departure time to allow you enough time to walk to the appointment.
The continued disruption of traditional TV viewing
Tamara Gaffney, Principal Analyst – Adobe Digital Index spoke about the shifts and disruption in traditional TV viewing. Authenticated TV or TV everywhere (which is where television broadcasters—particularly cable networks, allow their customers to access content from their network through internet-based services—either live or on-demand, as an aspect of their subscription to the service) has experienced significant growth in the US over the past 12 months – up nearly 300% with the vast majority of this growth coming from Apple devices. This growth is driving further audience fragmentation across various screens. This shift is driving TV networks to invest in DMPs (data management platforms) to better understand audience consumption and preferences – which will dramatically change the TV media industry as we know it.
Reputation capital is the future in a sharing economy
Rachael Botsman spoke of the collaboration economy and the emergence of trust as a key currency in the 21st century. In a collaboration economy, where under-utilised assets are monetised, trust between parties is integral and this trust is gleaned from the reputation we as consumers have built through previous interactions. The power of consumers has grown dramatically over the past 10 – 15 years through social media and access to information however in the collaboration economy the power between the giver and receiver becomes more balanced. The 2 way rating systems such as those created by Uber, AirBnB and others influence how consumers and providers behave during their interactions and usage of the products or service as they have to uphold their reputation.