© 2018 FORRESTER. REPRODUCTION PROHIBITED. · Myth versus reality AI lets marketers do their real...
Transcript of © 2018 FORRESTER. REPRODUCTION PROHIBITED. · Myth versus reality AI lets marketers do their real...
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AI for Chief Marketing Officers Lori Wizdo VP, Principal Analyst Forrester Research Kevin Li Chief Strategy Officer Idio
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Introducing the new business consumer.
4 © 2017 FORRESTER. REPRODUCTION PROHIBITED. Source: Forrester/Internet Retailer Q1 2017 Global B2B Buy-Side Online Survey
68% of B2B buyers prefer to research online on their own – up from 53% in 2015.
5 © 2017 FORRESTER. REPRODUCTION PROHIBITED. Source: Forrester/Internet Retailer Q1 2017 US B2B Buyer Channel Preferences Online Survey (N = 229)
62% of B2B buyers say they can now develop selection criteria or finalize a vendor list — based solely on digital content.
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60% of B2B buyers prefer not to interact with a sales rep as the primary source of information.
Source: Forrester/Internet Retailer Q1 2017 Global B2B Buy-Side Online Survey
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A new strategy is needed to engage the new business consumer.
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Marketing carries more of the client engagement burden
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It’s the role of marketing to guide the customer through the journey.
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How are B2B marketers responding to the new challenge?
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Source: Forrester's Q1 2018 International B2B Marketing Benchmark Panel Online Survey
Marketers flocked to content-intensive strategies.
71% believe inbound is critical to their
success
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Source: Forrester's Q1 2018 International B2B Marketing Benchmark Panel Online Survey
But, it’s hard to get stellar results.
Percent of respondents who expressed satisfaction and success with the various inbound tactics.
43% 34% 31% 39% 21%
Paid Search Organic/SEO Blogging Social Display
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Source:TheNewYorker
“You also had a very good feeling about the last one”
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Marketers Execute Campaigns in Swim Lanes
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Nurturing is not contextual enough.
Have one nurturing path for all leads 19%
Have nurturing paths that vary upon the buyer’s journey. 31%
Have nurturing paths that vary based upon product, solution or role.
40%
Source: Forrester's Q1 2018 International B2B Marketing Benchmark Panel Online Survey
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And, customers don’t swim that way
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A decade after the start of the B2B marketing revenue revolution ….
Only about a 30% lift in revenue performance.
Source: Forrester Data Global Business Technographics ® Marketing Survey, 2017
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It’s time for a new approach to the challenge.
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Why marketers need AI
Managing the sophistication of today’s cross-channel, personalized customer engagement exceeds human cognitive capacity.
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AI Can
› Digest large data sets
› Analyze and act quickly
› Adapt to multiple variables
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Marketers lead the enterprise in AI interest
Source: AI Must Learn The Basics Before It Can Transform Marketing Forrester report
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Defining AI for marketing: productized self-learning
Source: AI Must Learn The Basics Before It Can Transform Marketing Forrester report
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Demystify AI-powered marketing technologies
Sense
What sources can the system ingest data and content from and using which technical methods?
How frequently is the database updated with new data?
How does the system link data sources together and construct customer profiles?
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Idio uses AI to make sense of your diverse content pool and to profile each client’s content consumption patterns
Interest Profile
Digital Journey
Progressive profiling of each individual with each new click
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Demystify AI-powered marketing technologies
Think
What AI techniques does the solution employ?
Are models unique to each client?
What key performance indicators (KPIs) are available for users to select as the dependent variable for measurement and optimization?
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Idio allows firms to read their client’s mind throughout their digital journey and uncover their priorities
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Demystify AI-powered marketing technologies
Act
What channels does the product support natively versus through integrations with third parties?
Can scores, data, or other objects be exported from the system?
How does the offering incorporate customer preferences and relevant privacy or opt-out requirements?
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Idio enables you to build stronger, more valuable relationships at scale through client-centric experiences
Sample Results
Top 50 US Asset Manager
› 30% increase in content engagement across all digital visitors
› 180% increase in fund page conversions through accelerated journeys
› Production ready across all 5 persona experiences within 6 weeks
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Driving Change.
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AI-powered B2B marketing in 2018
Account targeting
CRM Data Provider
Predictive Analytics
Programmatic
Lead Nurturing
Virtual Assistants Chat Bots
Marketing Automation Sales Enablement
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Buy into AI for efficiency, and stay for the performance
› Ask the tough questions to understand how a solution works and what outcomes you can expect.
› Test with tightly defined and measurable use cases.
› Prepare for the intense content required for test-and-learn cycles.
› Trust but verify.
› AI adoption is a cross-department effort because it involves data, analytics, and marketing.
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AI will manifest in Martech apps, not standalone
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Myth versus reality
AI is all about fancy math and algorithms.
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Myth versus reality
AI is about the data.
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Myth versus reality
AI is about the data.
AI excels at locating relationships and patterns in data:
AI-powered systems rely on a steady supply of accurate, updated, and complete data.
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Myth versus reality
AI will put marketers out of a job.
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Myth versus reality
AI lets marketers do their real jobs.
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Myth versus reality
AI lets marketers do their real jobs.
Return to creative and strategic work: Reduce the strain of repetitive and tactical work,
and increase time spent on higher order work that a machine cannot do.
Think…
… like a disruptor.
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How CMOs can drive digital transformation:
Always be asking the tough questions. › What can I automate?
› Why are we this the right way?
› Are we doing the right things?
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How CMOs can drive digital transformation:
Always be piloting. › Devote 10-25% of marketing budget to innovation
Let people play.
› Don’t load people to 115%
Let people fail. › Fast Failure > Slow Success
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Update your marketing toolkit
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“The future is already here. it's just not evenly distributed.” William Gibson
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Lori Wizdo VP & Principal Analyst @loriwizdo lwizdo@forrester