第三季度客户参与报告

1、TABLE OF CONTENTS HYPERLINK l _bookmark0 EXECUTIVE SUMMARY HYPERLINK l _bookmark1 INSIGHTS HYPERLINK l _bookmark2 19DATA-DRIVEN EXPERIENCES: RELEVANT TIME VERSUS REAL TIME23PLATFORM FIRST, NOT PLATFORM ONLY: GROWING PLATFORM USAGE TO ENHANCE YOUR CAPABILITIES AND RETURNS HYPERLINK l _bookmark4 26CAS

2、E STUDIES30 HYPERLINK l _bookmark5 METHODOLOGYEXECUTIVE SUMMARYFor a successful marketing strategy, you need a successful data strategy. Meet the “modern platform”As COVID-19 relentlessly impacts organizations and consumers into the second half of 2020, marketers are continuing to evolve how they de

3、liver consumer experiences. As consumers become increasingly digital and demand timelier and more relevant brand interactions, the need for modern marketing technology powered by first-party data has grown.A modern platform allows brands to adjust to the speed of todays business, meet consumers ever

4、-changing demands, as well as fail fast to learn and optimize even faster. Past Merkle Customer Engagement Reports explored the fundamental concepts behind the modern platform: cloud technology, operationalizing data, customer journeys, multi-channel marketing, automation and efficiency, identity, o

5、rganizational change, and measurement acceleration.In the following pages, we dive further into concepts that fuel the modern platform. We explore the importance of relevant time and the hurdles to solve in order to make this a reality. Our research found that only 26 percent of marketers say they h

6、ave a distributed streaming platform to leverage real-time data throughout the enterprise, yet 90 percent acknowledge its importance in delivering the customer experience.We also discuss the idea of the platform-first mentality. Our survey this quarter reflects a change in marketer purchase behavior

7、 with most now buying best-of-breed products and considering custom builds rather than off-the-shelf technology. As marketers continue buying and integrating platforms within their customized marketing technology stack, we are advising customers to follow a “platform-first,” not “platform-only” appr

8、oach.The case studies featured in this issue explore how a national paint retailer developed a modern marketing platform, including a 360-degree view of the customer, complete with rich third-party data appended. The platform included a customer database that tracked both B2B and B2C engagements wit

9、h the brand including transactional, digital, and personal contacts, both inbound and outbound. We also reveal how a national bank leveraged real-time decisioning, orchestrated in an omni-channel environment, to build a complex set of customer interactions over time and touchpoints.We hope that our

10、collection of research-based reports provides you with rich information and examples to help you make better business decisions on your journey to deliver the total customer experience throughout the year. We look forward to continually bringing you valuable insights each quarter as we expand on the

11、 modern marketing platform.Best,Craig DempsterINSIGHTSIn this report we explore the modern platform: how it is implemented and how marketers feel their platforms deliver engaging customer experiences. In addition, we explore the balance of real-time versus relevant-time applications of data. Our res

12、earch shows that marketers are generally happy with their platforms, but many may not be using them to their full potential. Also, most realize the significance of real-time data, but fewer put it into practice today.MARKETERS PLEASED WITH TECH-ENABLED EXPERIENCESIn the ever-changing quest to provid

13、e customers with exceptional experiences, marketers need to find the right technology to deliver on these expectations. Our findings show overwhelming positivity in the market in both enabling experience and delivering ROI. When asked to rate their platform on a scale of one to five, 89 percent of r

14、espondents chose a four or a five, saying their current martech enables an omni-channel experience for their customers. This positivity is most evident among respondents in the travel, media, and entertainment (TM&E) and retail and consumer packaged goods sectors, who selected these options 93 perce

15、nt and 89 percent of the time, respectively.89%Say current martech enables omni-channel experience88%Say most recent technology purchase met their needs78%Say current platform isdelivering expected ROIMarketers were also asked how their recent technology purchases have met their needs both generally

16、 and from an ROI perspective. Overall, 88 percent of respondents have a positive view of their most recent integration, with 78 percent saying they are getting the expected ROI from the platform.More specifically, respondents were asked to rate their platforms ROI delivery on a scale of one to five,

17、 with 40 percent choosing four and another 38 percent choosing five. As we investigate these numbers further, we start to see a disconnect with marketers who are happy with their purchase, but may not be getting everything out of their current platforms.12345*Travel, Media, & EntertainmentFinancial

18、TM&E*Retail Consumer Goods InsuranceHigh-Tech Other HealthNonprofit55%Current Martech Enables Omni-Channel Experience By Industry57%29%47%18%3%36%14%14%42%11%5%46%11%52%41%7%49%13%39%2%14%52%36%38%42%43%We can find deeper insights into marketers feelings around their marketing technology by looking

19、at the answers broken down by industry and company size (here displayed as annual revenue). Above, we see some industries, such as TM&E and retail and consumer packaged goods, with around 90 percent or more choosing four or five. On the other end, just 71 percent of nonprofit marketers selected four

20、 or five, with another 29 percent choosing three.Below, we can see higher revenue companies reporting that their platforms provide expected ROI more frequently than lower revenue companies. These findings reiterate top pandemic pain points reported in our previous HYPERLINK https:/bit.ly/2FPTQB7 COV

21、ID-19 special edition report: marketers struggle with having data in too many places to be useful and not using their data to its full potential.Platform ROI by Company Revenue44%45% 44%36% 37%30%23%16%12%5%1%1%3%2%3%12345$100M-$499M$500M-$999M$1 billion or moreMODERNIZING TECHNOLOGY WITH CUSTOM PLA

22、TFORMSOur research also aimed to set some baselines for marketing technology adoption. Respondents were asked to report on their current martech situation, with 68 percent stating the need to build a custom platform.68%What is your current martech situation?46%43%19% .25%We need to build a custom pl

23、atformWere working with the technology we already haveWe have too much technologyWe need to invest in technology platformsOtherBelow, the nonprofit group overwhelmingly states the need to build a custom platform at 86 percent of respondents, hinting at a different tech need altogether for nonprofit

24、marketers. At a rate of 37 percent, insurance marketers express the need to invest in tech platforms more than other groups, supporting a finding in our recent HYPERLINK https:/bit.ly/2FPTQB7 COVID-19 special edition report that 90 percent of insurance marketers have been accelerating customer-centr

25、ic martech projects over the past few months.Current MarTech Situation By Industry47%35%71%13%41%43%70%14%14%20%86%15%Nonprofit Health15%44%44%67%21%49%48%68%Retail Consumer Goods Financial37%53%37%53%7%7%43%21%57%25%48%46%66%TM&E* High-Tech Other InsuranceWe need to build a custom platformWe have t

26、oo much technologyWere working with the technology we already haveWe need to invest in technology platforms Other*Travel, Media, & EntertainmentReasons for Investing in MartechAccelerate digitaltransformationModernize technologyImprove efficiency with lessresources/staffFill gaps in current technolo

27、gyWe are not investing in technology1%54%61%67%69%When asked to pick reasons why they are investing in martech, most respondents indicated a desire to accelerate digital transformation and modernize technology as their primary considerations. Interestingly, just 1 percent of respondents are not inve

28、sting in technology, which does not appear congruent with the high rate of satisfaction previously reported.Below we see the industry breakdown for martech investment considerations. High-tech and nonprofit groups show the highest response for “Accelerate digital transformation,” while the insurance

29、 group chose “Modernize technology” the most, at 74 percent. These numbers support our HYPERLINK /thought-leadership/white-papers/customer-engagement-report-covid-19-edition COVID-19 special report findings that 52 percent of marketers are accelerating customer-centric martech projects and 50 percen

30、t are also trying new marketing technologies and features during the pandemic to meet consumer demands.Martech Investment Considerations By IndustryHigh-Tech71%66%65%61%Nonprofit71%57%29%57%Retail Consumer Goods70%70%64%52%Health68%71%59%53%Financial68%65%57%53%TM&E* OtherInsurance67%64%53%63%50%74%

31、44%86%47%44%37%57%Accelerate digital transformationModernize technologyImprove efficiency with less resources/staffWe need to invest in technology platforms We are not investing in technology*Travel, Media, & EntertainmentNonprofits are clearly prioritizing accelerating digital transformation when i

32、t comes to their marketing technology investments this sector has historically lagged in digital adoption and there is an industry- wide sense of urgency to catch up to for-profit peers who have set the standard for personalized, digital experiences. We also see nonprofits prioritizing improving eci

33、ency the least often, suggesting that nonprofits will continue to operate with their typically lean tech staff.- Colin Stewart, SVP, Nonprofit, MerkleBEST-OF-BREED CUSTOM BUILDS CITED AS PREFERRED MARTECH APPROACHESAnother angle we investigate in terms of the modern platform is the ideal approach to

34、 implementing martech. First, we asked whether marketers preferred a single stack (a platform that includes all features or functionality in one solution) or a best-of-breed approach (purchasing separate platforms that meet the businesss unique goals).Preferred Approach to Implementing MartechSingle

35、 stack, 33%Best of breed, 67Additionally, we separated these preferences by industry. Over 70 percent of health, retail and consumer packaged goods, and high-tech respondents prefer a best-of-breed approach. Insurance and nonprofit are the only industries to prefer a single-stack solution, with 58 p

36、ercent and 71 percent in favor, respectively.Its not surprising to see that healthcare organizations skew heavier to a best of breed approach, likely reflecting organizational structurearound brands and products. Business units are independently run and often work with preferred agency partners, orc

37、hestration tools, and in- market strategies. The pandemic has exposed operational gaps and has accelerated the need for healthcare brands to engage customers digitally. We are slowly starting to see a shift towards centralized martech initiatives being led by a center of excellence and capability te

38、ams where a single stack solution is selected across the enterprise. Jane Portman, SVP, Health, Merkle29%71%Martech Implementation Approaches by Industry42%57%63%67%72%72%76%58%43%37%33%28%28%24%HealthRetail ConsumerGoodsHigh-TechTM&E*FinancialOtherInsuranceNonprofitBest of breedSingle stack*Travel,

39、 Media, & EntertainmentThe need to deliver truly personalized experiences and capture a larger share of trips or views is a likely driver of more than two-thirds of travel, media & entertainment marketers preferring best of breed versus single stack” for their approach to implementing technology pla

40、tforms.- Coleen Kuehn, EVP, Travel, Media & Entertainment, MerkleNext, we asked marketers their preference in buying off-the-shelf platforms versus building custom platforms to fit their needs. Here we see almost 80 percent of respondents prefer a custom-built platform to an off-the- shelf option.Of

41、f-The-Shelf vs. Custom BuildOff-the-shelf, 21%Custom build, 79%Below, we see 88 percent of financial respondents prefer a custom build to an off-the-shelf solution. As we have seen previously, the nonprofit group differs a bit from the rest, with just 71 percent preferring custom builds. Similarly,

42、in our recent HYPERLINK https:/bit.ly/2FPTQB7 COVID-19 special edition report we saw nonprofit marketers report using outsourced workers more often than other industries.Off-The-Shelf vs. Custom Build by IndustryFinancial88%12%TM&E*78%22%Retail Consumer Goods77%23%High-Tech76%24%Health76%24%Insuranc

43、e74%26%Nonprofit71%29%Other64%36%Custom buildOff-the shelf*Travel, Media, & EntertainmentOver the past five years, financial services organizations have invested in best of breed channel platforms to enable everything frompersonalization of the digital experience to optimization of engagement in hum

44、an facilitated channels, such as branch and contact centers. Over the past two years, we have seen an increase in the integration ofthese platforms through CDP and decisioning capabilities that allow for the activation of a centralized audience strategy, enterprise targeting frameworks, and cross-ch

45、annel customer interaction. This integration is leading to the optimization of the total customer experience andgeneration of significant return on these legacy investments in a way that siloed operation didnt provide.- Paul Evers, EVP, Financial Services, MerkleFIT IS PRIMARY DECISION POINT WHILE P

46、LANNING IS NEEDEDTo dig deeper into off-the-shelf preferences versus custom builds, we examined marketers top considerations when deciding. When asked to select their top two considerations, respondents chose scalability acrossthe organization and robust features and offerings most often (at 45 perc

47、ent and 41 percent of respondents, respectively).Top Considerations for Custom vs. Off-the-Shelf27%29%29%30%41%45%Scalability across the organizationRobust features and offeringsPricevendorClient support by theIntegration with other martechSpeed to start upNew Platform Adoption Planning by Industry4

48、1%52%37%37%44%47%60%2%29%79%29%43%57%29%29%32%47%32%63%5%38%45%49%53%3%14%36%52%TM&E*Retail Consumer Goods OtherHigh-Tech39%43%44%59%Health26%47%53%56%Nonprofit InsuranceFinancialOnline platform training Quarterly vendor sessions NoneTraining once its readyFull change management plan*Travel, Media,

49、& EntertainmentMarketers must consider the many implications of implementing new marketing technology. Here we asked what types of planning are used when adopting a new platform. Overall, marketers most often selected “Full change management plan” and “Training once its ready.” The chart below shows

50、 that insurance and nonprofit groups were leaders across those categories.Everyone understands that decisions about martech investments have far-reaching consequences for the ability of marketing to deliver the desired client experience and business outcomes. However, regardless of whether youre bui

51、lding a custom platform or buying one off the shelf, competing priorities make tight stakeholder alignment an essential ingredient for ultimate success.- Aaron Tellier, EVP, Insurance & Wealth Management, MerkleAdditionally, we asked marketers to share how widely their most recent platform integrati

52、on was adopted within their organization. Overall, we see about 77 percent of all respondents reporting active communities. When looking at the industry lens, the high-tech and retail and consumer packaged goods groups show the strongest adoption breadth, while the nonprofit group sees limited acces

53、s.High-Tech50%31%11%9%Retail Consumer Goods49%27%13%12%Financial46%29%12%14%Health44%32%9%15%TM&E*44%41%7%7%Other43%21%14%21%Nonprofit43%43%13%Insurance37%37%11%16%All user capabilities and communities Access is limitedUser communities are activeThe platform is not used consistently*Travel, Media, &

54、 EntertainmentMarketing Platform Adoption by IndustryIn the high-tech industry, we have seen early adoption of marketing technology platforms. However, we do still see many customers struggling with orchestration across the platform, where not all users are incorporated into the same platform. In ma

55、ny cases, the infrastructure is in place, but there is a heavy lift for cross-organization integration. Even with the highest response rate, only 50 percent of high-tech companies feel they have all user groups integrated across the platform.- Mark Engelke, SVP, High Tech, MerkleMARKETERS RECOGNIZE

56、IMPORTANCE OF REAL-TIME DATAIn the next section, we explore the idea of real-time data processing. Namely, how important is real time to marketers and what “real time” really means. Below we see that 90 percent of respondents rated real-time datas importance as a four or a five on a scale from one t

57、o five.12345Below, we break down real-time data importance by company revenue size and see that more mature companies recognize its importance a bit more than less mature companies.Real-Time Data Processing Importance by Revenue74%Real-Time Data Processing Importance63%27%8% 0% 2%66%54%31%31% 30%18%

58、0% 0%1%1% 1%3%3%5%12345$100M-$499M$500M-$999M$1 billion or moreNext, we try to understand the true meaning of “real time” by getting marketers views on the right timing for relevant data. Respondents selected “In minutes” most often (38%), with just 25 percent selecting “In milliseconds,” the quicke

59、st turnaround.When looking at the company size groupings below, we see that companies with higher annual revenue are most concerned with getting data fast (in milliseconds) but also the slowest latency (several hours). These companies could be more familiar with the idea of “relevant time” as oppose

60、d to real time.24%12%6%11%2%7%7%20%21%30%44%38%32%26%19%Relevant Data Delivery/Availability Timing By Annual RevenueIn millisecondsIn minutesFifteen minutesOne hourSeveral hoursWhat is the right latency for data delivery/availability for relevancy?In milliseconds25%In minutes38%Fifteen minutes22%One