Executive Dinner with Alterian & ADMA
Alterian was pleased to be the exclusive sponsor for the executive dinner on the evening of April 27 in Sydney, hosted and moderated by ADMA.
Jodie Sangster, CEO of ADMA, welcomed the esteemed guests to the evening at an intimate setting Sydney’s famous Rockpool restaurant. These senior-level marketers joined us to discuss the challenges of achieving adaptive, customer-centric marketing strategy, and how the Alterian Adaptive Customer Experience™ platform can solve them. Guests around the table stemmed from a variety of industries, from financial services and banking, to retail, and automotive industries.Vinnie Mistry, VP APAC at Alterian, further welcomed the guests and raised a few interesting topics for our core discussion in terms of each attendee’s respective industry:
- What does ‘marketing in the moment’ mean?
- Are traditional customer journeys dead?
- How do you create consistency in real-time?
MARKETING IN THE MOMENT
One of the most memorable discussions regarding the concept of ‘marketing in the moment’ started with a challenge from the banking sector. Our guest explained that in-person interactions, like those at a branch location, allow advisors to ask unique and highly relevant questions in the moment to better serve their client. As the world becomes increasingly digital and automated, he posed to the group, how can banks maintain this level of personalized service across all consumer interactions?
This is a common question from marketers today—but, where advancing technology has created a challenge, we have developed technology with an apt solution. Quickly and efficiently managing customized campaigns in real-time has become the expectation for the digital marketer; Alterian’s Campaign Manager now makes this easier than ever. Our guest stressed the importance of truly listening to and observing the customer’s behavior in person, and we parrot this sentiment when it comes to collecting, analyzing, and—most importantly—using data about the customer’s behavior on various online and offline channels. By utilizing Campaign Manager integrated with our Dynamic Decision Engine (DDE), our friends at the bank not only have the opportunity to mirror the tailored experience they offer in-person across all channels, including in-branch, but improve it drastically by mobilizing more customer data than ever before.
THE CUSTOMER JOURNEY
If there’s one thing most marketers can agree on, it’s that no consumer is the same, and no one, linear path leads to a brand or purchasing decision. Our guests agreed that it’s easy to be caught off guard by our customers’ unpredictable behavior because the recent focus on customer journeys puts channels ahead of customer needs; and while we’re getting better at tying campaign activities together as part of a cross-channel approach, what remains a challenge is making the leap to engagement that’s based on customer needs and behavior in the moment.
Thus, it’s time to become an Adaptive Marketer™; this means using campaign and customer analytics in full context to make informed decisions about targeting an individual in the next step of the journey they are defining themselves. Alterian’s Insights is a tool within the Adaptive Customer Experience™ platform that allows marketers to do just that, all within a single, centralized, marketing-specific database. With the wealth of data available this day in age, it’s a waste for marketers not to turn insights into action.
CONSISTENCY IN REAL-TIME
A guest from the automotive industry headed up the conversation about creating consistency in real-time. He wondered, how can you create consistency for personalization in real-time for a customer in the process of purchasing a car? Since they research and interact with the brand on so many different channels, it’s essential to put forth the same, relevant messaging across all avenues based on the actual customer, not the channel type. As such a consumer-driven industry, automotive marketers can’t afford to miss out on these opportunities to reach the customer.
It seems that the greatest challenge from all industries represented at the dinner were silos within organizations. How can a marketer expect to accomplish the task of real-time consistency when data and functionality live in separate locations across a company? Here, we had an excellent opportunity to inform these senior-level marketers of Alterian’s Dynamic Decision Engine (DDE), which can optimize content for a specific customer in less than 100 milliseconds as the brand interaction is occurring. With a direct integration to Campaign Manager and Insights, DDE is able to take actionable data, make an informed marketing decision, and deploy messaging to your customers in—that’s right—less than 100 milliseconds. We’re happy to tell you that creating consistency in real-time can truly be done!
Let’s be honest. “Real-time” is an overused buzzword in our industry that has started to lose meaning—kind of a necessary evil for us to use. So, let’s get specific: A 100-millisecond delay in website load time can hurt conversion rates by up to 7%. A two-second delay pushes bounce rates to a whopping 103%. When we say real-time and in-the-moment, we mean less than 100 milliseconds, the IAB standard for serving content and a crucial benchmark for marketers today.
IT’S TIME TO ADAPT
The atmosphere, setting, and food were impressive, and guests engrossed themselves in these engaging topics, exchanging interesting thoughts and insights for solving challenges. Attendees had lively discussion about marketing in the moment, problems with the customer journey, and consistency in real-time. Aw we hoped, Alterian’s solutions made an impression on our guests regarding these common challenges for marketers today.
Thank you once again to the ADMA for hosting the evening. We love sponsoring intimate events like these where we have the opportunity to get other marketers as excited about our unique solutions as we are. To learn more about the Adaptive Customer Experience™ platform, reach out today! Your bottom line can’t afford not to adapt.