Trends in Data-Driven Customer Engagement
Dr. Ralf E. Strauss Chairman of the Board
African Marketing Confederation Mombasa, September 26, 2024
The European Marketing Agenda 2024 Incorporates Almost 1,300 Completed Answers
Almost 8, 000 CMOs, senior marketing executives and marketing board members surveyed via the European marketing associations within EMC
Topic Areas:
• Key topics 2024
• Biggest challenges / barriers
• Customer Experience Mgmt.
• AI
• Sustainability
In total 1,287 full answers
Source:
Brand Management, Marketing Operations and Digitalisation (MarTech) Continue
Focus on Brand Management and Reach (Upper Funnel)
Focus on Marketing Operations (Execution), e.g.,
improvement of websites, E-Commerce, CRM-Systems, Data Analytics
Increased focus on Digitalization and Implementation of Marketing Tech
Increased Need for KPI Frameworks, Measurement (Marketing Spend Optimization) and Data Models (Marketing Mix Modelling)
Focus on Sales and Performance Marketing (Lower Funnel)
To Be Top-of-Mind
No. 2: Marketing Operations Stretches From Planning & Steering Down To Customer Journeys and Tech
No. 3: The Challenges With MarTech: More Than 14,000 Applications
Source: European Marketing Agenda 2024; Marketing Tech Monitor 2024; Brinker/Riemersma 2024
… With Overlaps And “Morphing”
AI Climbs From Zero (in 2023) To Hero … Followed By
Marketing And Customer Experience Mgmt.
Source:
Stairway To Heaven: get different functional areas together to play one joint symphony …
Source: Marketing Tech Monitor 2023
The Challenge … Still …: Consolidation of Data And Knowledge Gaps
Collection, consolidation, quality of distributed customer data for a 360-degree view
Lack of understanding & knowledge of how AI will change business
Consistent customer experiences across all touchpoints
Lack of integration of data science processes into existing processes (marketing planning, media buying, etc.)
Recruitment of employees with relevant experience
Top Challenges & Barriers in 2024 (Top 5, n=1,287)
The Strategic Objectives Often Remain A “Wishful Thinking”
A Detailed Analyse Based On Data Reveals Pitfalls In The Customer Journey
Source: European Marketing Agenda 2024; Marketing Tech Monitor 2024
The selection and implementation of MarTech must not fall into classic traps ... like the selection of wine ...
Already Existing Application ….. “already licensed”
Horse Race
Upper quadrant of an analyst such as Gartner or Robert Parker
Puppy Love
Political
Motivation
After a short demo
you cannot do anything wrong with it
Sightseeing
per
“this will grow and develop … trust me ”
AI is Mostly In Planning Phase … And In Content
Production As GenAI
The Next Wave Will Be Driven By Higher Valued Scenarios Such
As Hyper-Personalisation, ….
Too Much (AI-) Love Will Kill You: Too Many Tools … And No Inhouse Know-how
Too many tools in the market, which makes it hard to understand where and how to make best use of them
No in-house know-how available
The data available to our AI is not sufficient (e.g., only monthly availability of shopper data)
Not necessary, our questions do not require AI/Machine Learning
No suitable partner available
Biggest Challenge Of Usage of Artificial Intelligence (n=1,287)
De-Mystifying AI … It Is Always About Analyzing Data Points In The Respective Context
Example Convolutional Neural Network (CNN, schematic)
Source: European Marketing Agenda 2024; Quelle: Marketing Tech Monitor 2024; LearnOpenCV: Understanding Convolutional Neural Network (CNN): A Complete Guide; AI Geek: An AI Engineer’s Guide to Machine Learning and Generative AI. Everything you need to know about the underlying ideas, scientific innovations, & technologies that are powering modern AI; in: Medium, October 3, 2023.
Top Priority … Like It Or Not … Data Strategy and Cleansing
Using Causal AI … For A Model That Maps Reality Via Machine Learning
With Intelligent Agents Automating Tasks ...
Types of Agents in AI
All Topic Areas Require A High Degree Of Depth In Content & Understanding ... Starting From The Customer Journey
Benchmarking
• Evaluation of AS-IS
• Most Important Scenarios & Use Cases
CustomerJourneyAnalysis
• Relevant Touchpoints
• Data Points & Informations
• Customer Journey Map
BenefitsCase
• Pragmatic Business Case
• “Buy-In” of Organisation
TargetPicture
• Joint understanding
• Master Construction Plan
UseCases& Requirements
• Foundation
• Joint / same understanding and target
Selection/Fit-Gap-Analysis
• Basis AS-IS/TO-BE Processes
• Using Requirements Database
Change(LegoSeriousPlay)
• Meta-Layer
• Emotional involvement
CapabilityMap
• Competencies & Organisation
• Via Senior Project Leaders
Contact Details
Dr. Ralf E. Strauss Chairman of the Board
E-Mail: rstrauss@emc.be
Phone: +49 1525 313 16 90