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Good morning Marketer. A digital transformation should improve all areas of marketing.
That may be a high bar, but that’s exactly what the popular cosmetics brand elf Beauty aimed at through careful planning and implementation. As you will see in our first article below, this is still a work in progress. But they have centralized the majority of their customer data in a CDP and hope to integrate it with their social media platform Sprinklr.
Social media is everything for an e-commerce brand because social commerce and influencer economy are merging. Marketers can weigh the benefits of working natively with new affiliate offers, for example via Instagram, or look for third-party solutions like Vungle.
Maybe it all depends on the ROI. Below, Stacy Greiner, CMO of Dun & Bradstreet, talks about the Rev.Up platform and the important decisions companies can make when they have access to the right data.
Eleven four pillars of transformation
For the cosmetics company elf Beauty, the digital transformation began about two and a half years ago before the pandemic. “Sometimes the brand awareness wasn’t there, people didn’t know what eleven stood for,” explained Chief Digital Officer Ekta Chopra. “(It’s eye, lip, face.)” We wanted to be declarative about what the brand is. “It was decided to close the physical stores that eleven had opened and instead invest the funds in digital ones.
There were four important pillars for the digital transformation of eleven. The first pillar was creating one fully networked digital ecosystem. “How can we make sure we were from the time the consumer makes the discovery, to the time of purchase, advocacy, etc., was the second pillar Data collection: “How do you use consumer data and bring it together in a consumer profile?”
After Chopra collected the data, the third pillar was offer the consumer a valuable experience in exchange. “Make sure you provide an experience that suits their needs, wants and wants.” The fourth pillar, she said, is bring the experience to life: “So augmented reality, live sales, engagement in different ways to close this gap between physical and digital material; And ultimately, you are doing this to grow your trading business. “
The time came when the networked digital ecosystem existed, large amounts of data were collected and eleven were faced with the challenge of merging the data and activating it in various channels. “All of that information was here, but it wasn’t linked to a single consumer ID,” Chopra said. “So we set out to get a customer data platform and decided on ActionIQ.” Chopra set out to implement ActionIQ step by step, a process that has not yet been completed. “We have completed the first phase, which took almost 75% of our data and merged them into individual user IDs.”
eleven goes beyond the more traditional social media platforms. An Eleven Challenge campaign was the most viral of all time on TikTok, with 7 billion views. Elf currently uses Sprinklr for social media management and has an integration with ActionIQ underway.
Read more here.
Dun & Bradstreet CMO talks about big changes
Historic business intelligence provider Dun & Bradstreet, with a database of information on around 300 million companies around the world, got involved with the Lattice with the launch of the Rev.Up ABX platform last month, a single B2B hub for marketing and sales teams Engines CDP (acquired in 2019) at its core.
We asked D&B CMO Stacy Greiner whether the impression that D&B is making big changes is correct. “Your impression is correct,” she confirmed. “This builds on our historical strength and the trust our customers have in terms of contact and account information. As we consider how we can continue to add value and be a better partner to our customers, the focus is on making it easier for teams to make data-driven decisions. “
Rev.Up is of course reminiscent of RevOps, which combines strategy, sales, marketing and often also customer success operations in one team. “Once these teams all work together as a team and start from a set of truths about accounts and contacts, whether customers or prospects, teams can truly deliver that personalized shopping experience across all of the different digital channels.”
Why we care. The pendulum swings away from individual solutions and towards broader offerings that can orchestrate these critical digital journeys – but not necessarily in the direction of the large, comprehensive CX suites. D & B’s Rev.Up ABX platform (and Demandbase recently started using the term “ABX”) is more of a hub that can integrate both existing activation solutions and data from a variety of sources. And it’s a logical step in many ways for a company steeped in account and contact information.
Read more here.
Gold rush in the creator economy
The Creator Economy has taken further steps forward. For starters, Facebook and Instagram unveiled a new set of features to be rolled out over the next few months that seem to empower IG creators by helping them sell products and earn commissions. For example, a native affiliate tool on IG allows creators to display products that are available for payment that their followers can then buy, which gives the creator a cut.
On the third-party side, the mobile performance marketing platform Vungle today announced the acquisition of the influencer marketing platform JetFuel. JetFuel has a network of over 15,000 fully verified influencers and a combined reach of 4 billion Instagram followers, 1.5 billion TikTok followers and 100 million daily Snapchat views.
Vungle calculates on a cost-per-action (CPA) basis, which means marketers have the edge to calibrate a high ROI when they can rely on their performance partner to measure these actions. The burgeoning affiliate network right on the Instagram platform could be another place to look, but it remains to be seen whether Facebook is asking too much. Of course, you have direct access to all campaign-related behavioral data.
Only time will tell which route marketers prefer. The global influencer marketing pot is projected to reach $ 13.8 billion this year, up from $ 1.7 billion in 2016.
Why we care. The e-commerce potential in social networks is beyond question. The casual, authentic word of mouth culture offers users of the platform a superior soft sell. The real question is how best to harness this potential for marketers.
The platforms themselves have been building their own native skills for running affiliate campaigns a little slowly by their creators, in part because they want to support a creative culture that aspires to be more than just an online mall full of sellers selling their goods. However, Facebook loses advertising spending when influencer campaigns are mediated and managed through third parties. What matters is how marketers get the best ROI, through performance solutions like those from Vungle or directly through Facebook, minus the share of FB and the commissions of their creators.
The MarTech takes place from 14.-15. September 2021 with a focus on data. Submit your meeting ideas now.
The theme of the MarTech, which will take place from 14.-15. September takes place virtually Data. Decisions. Results.
Modern marketing presents a complex web of interconnected topics: customer experience, management and strategy, marketing technologies and the processes that operate them. The focus, however, is on collecting, storing, managing and activating data, which runs through all of these facets.
Nobody would think of improving the customer experience without data today. All strategies – if they are worth something – are data-driven, and technologies are collecting and creating data at an increasing rate and speed.
We’d love to hear from you, marketing practitioners, who are at the forefront of data management in all areas of marketing. If you have an interesting story to tell, a case study to share, or tips and techniques for successfully collecting, managing, or using data in the following areas, please consider submitting a session pitch.
- Marketing automation
- Manage customer data
- Digital asset management
- Marketing Attribution and Predictive Analytics
- Content management
- Account-based marketing
- Identity resolution
- Analysis of the customer journey
- Marketing project management
We are accepting applications from now until July 31st. Further information and tips on submitting session pitches can be found on this page or directly to the pitch form here.
If you haven’t submitted a pitch in the last year, you’ll need to create an account first and then fill out your profile. Then click on Pitch a Session, select MarTech fall from the drop-down menu and enter your specific pitch details for the session. If you have any questions, please feel free to contact me: firstname.lastname@example.org.
About the author
Chris Wood has over 15 years of reporting experience as a B2B editor and journalist. At DMN, he was Associate Editor, providing original analysis of the evolving marketing tech landscape. He has interviewed technology and political leaders from Canva CEO Melanie Perkins to former Cisco CEO John Chambers to Vivek Kundra, who was named the country’s first federal CIO by Barack Obama. He is particularly interested in how new technologies, including voice and blockchain, are changing the world of marketing as we know it. In 2019 he moderated a panel on “Innovation Theater” at the Fintech Inn in Vilnius. In addition to his marketing-focused coverage in industries like Robotics Trends, Modern Brewery Age, and AdNation News, Wood has also written for KIRKUS and contributes fiction, criticism, and poetry to several leading book blogs. He studied English at Fairfield University and was born in Springfield, Massachusetts. He lives in New York.