Marketers are feeling the impact. McKinsey also found that digital campaigns are the source of some of the largest and most complex big data sets marketers use, and other research from Forrester revealed that more than 45 percent of surveyed clients’ big data initiatives address marketing. In addition, Forrester also estimates the social media, email and mobile marketing market —which is a $6 billion market opportunity today –will be skyrocketing to $16 billion by 2016.
As technologies continue to evolve –becoming faster, more versatile and cheaper than ever before –big data’s role will continue to swell and consumers and retailers will begin interacting across an even wider array of channels. Already, it’s increasingly difficult to determine where e-commerce stops and in-store retailing begins, and forward-thinking marketers recognize they have plenty to learn from e-commerce sites like Amazon. Remember: Amazon’s five-year average return on investment is 17 percent; traditional retailers average less than half that (6.5 percent). What’s more, online retailers score 87 points on theAmerican Customer Satisfaction Index –that’s 11 points higher than the average for physical discount and department stores.
But, simply developing e-commerce capabilities is no longer sufficient. Having a multi-channel “presence,” or tracking customer data across one or two channels, is just not enough. Your customers today expect more. They expect a seamless, consistent experience across all channels. They expect you to be able to manage and integrate all their big data so you can provide them with an immersive experience, regardless of the channel where they found you.
A little more than a year ago, when Teradata acquired Aprimo, the two companies established a shared vision, showing our customers, partners and the global market how Integrated Marketing Management (IMM) is the key to enabling this new, enhanced customer experience. After all, the true promise of IMM lies in braiding together all the varied components currently expanding the frontiers of digital marketing.
Now, I’m thrilled to report that last week, Aprimo and Teradata brought that vision one step closer to reality. With Teradata’s announcement of a definitive agreement to acquire eCircle, Europe’s leading cloud-based digital messaging solution company, Aprimo and Teradata pulled the braid tighter. The promise just got better.
Digital marketing is now a critical revenue driver for today’s marketers, and as customers increasingly interact with brands across multiple channels, insights from big data analytics and IMM solutions will help marketers interpret results and act in real-time. As Rolf Anweiler, VP of marketing at eCircle, points out, the possibilities are extremely exciting. Imagine that a customer complains about his new tablet on Twitter, and then he automatically gets a message on his smartphone directing him to the nearest store to get it fixed . . . or he receives an email with the corresponding support instructions!
Yes, the omnichannel revolution is underway, and we’re ready. Are you?