Charlotte Street Hotel, 8th February, breakfast time – Relay42 talked with the likes of GroupM, Yahoo and TMW Unlimited about what smart data management technology might mean for the world of marketing.
See the event in photos here.
Aside from the miniature Eggs Florentine, here are some the most interesting talking points from MarTech industry movers and shakers:
1. “We need to transpose traditional customer engagement into modern marketing”
Yes, the output created by the marketing technology space is too creepy for customers now. But how do we resolve this? Relay42 CEO Tomas Salfischberger reminds us we need to take customer engagement back to the village bakery: this means using data management technology to humanise dialogue between brand and consumer – one-to-one. A bakery would greet us as a customer and remember from previous interactions that we want a loaf of brown bread. We’d all be perfectly happy with that.
But if we walked to a next bakery in the next town, and they greeted us with ‘here’s the loaf of bread you like from the other bakery’; that’s where it gets uncomfortable.
2. “Marketers should stop focusing on the next big ‘channel’, and learn how to use ‘human’ properly”
Why does this happen, and how do we resolve it? We’re misdiagnosing the problem by asking whether consumers are ready for smart data management, because there’s a difference between advanced technology, and bad usage. The uncomfortable feeling of being stuck in uncanny valley comes from MarTech misuse. We’ve had the ability to target for a long time, so this is nothing new – but the human element of this has not yet been laid down as a new alternative to channel-based specialism.
When we try to reassess the value of marketing and advertising and what this looks like, we also need to consider the technology to make this possible; to match this consistent conversation across channels with knowing the customer, and delivering the right message, in the right context.
And the truth is, the majority of the industry haven’t got it right yet.
3. “Respecting people’s boundaries becomes a critical guiding principle when tackling impending GDPR changes”
This is why GDPR exists, and why regulations will continue to be introduced and reinforced if the industry can’t deliver on the human aspect. When it comes to respecting boundaries, those created by the law could be broader than boundaries customers create themselves, and so this human acceptance could be used as a useful benchmark. Your legal department may even agree to a list of 400 third party data exchange companies, but your customers may not.
Take a trust-based product like insurance: here, showing a sign for your customers in unexpected territory, or sharing unexpected information, means the difference between buying a policy with you or with your competitors.
4. “Artificial Intelligence (AI) in data management can be a brain for both industry blueprinting, and goal-driven learning specific to the businesses.”
Great deep learning algorithms for marketing are built as a brain consisting of two parts: a reusable structure based on industry - where for airlines this might be revenue management rules based around plane fill-rate - and experience or memory. That’s where AI in data management learns on its own, with a clear objective set out to learn a certain thing, through a set of predetermined examples.
Then the differentiator, the part where the magic happens, is when brands can activate this kind of deep learning across any platform, database, channel and touchpoint responsibly.
And in real time.
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