We had the great opportunity to sit down with Oracle Data Cloud to discuss the importance of developing strategies to navigate the cross-device, cross-channel challenges we all face across industries today. While it was addressed to a degree in the interview, the discussion around whether a cross-device, cross-channel strategy is important to develop shouldn’t necessarily be where marketers need to spend time. We know that it is. Instead, the focus should be on the HOW we develop those strategies and where the process needs to begin.
Unless the “spray-and-pray” approach has miraculously started yielding above-average ROI statistics, this is not the strategy we believe you’re really wanting to implement. Don’t get us wrong, we’re all for extending reach and getting your message in front of more eyeballs. In fact, optimal scalable reach is a primary benefit of our solutions but more importantly, it’s reach driven through ensuring only the right eyeballs are engaged with, your engaged in the right way, on the right devices and at the right time.
We often find it helpful to paint a picture using “Jimmy”. On-the-surface, “Jimmy” may seem to be someone who you’d identify as an prospect you believe is worth engaging with through your marketing campaigns. You’re in the business of selling high end cars and you’ve been able to see that “Jimmy” has gone to your website and signed up to receive more information from you via your monthly newsletter. This is the point in which we see many marketers stop diving deeper into understanding who “Jimmy” is. They have his email and know he’s visited the site so can’t we just assume he’s a perfect prospect? The answer is sure, if ROI based on sales lift isn’t you’re primary benchmark. Upon further resolving of who “Jimmy” is, you’ll find that he actually has a profile that looks like the following:
- Age: 19
- Current Annual Income: $13,600
- Occupation: Mows lawns during the summer during college break
- Credit Score: below-average
- Rents an apartment a block from college campus
- Is active on his Facebook, Instagram and Twitter
- Has 3 active email addresses
We could keep providing data on “Jimmy” but we think you see the point. Ultimately we want “Jimmy” to become a loyal customer for you but if immediate sales were your ROI benchmark for your marketing campaign (promoting a $65,000 car), to spend marketing dollars to reach “Jimmy” now would be let’s just say….slightly inefficient.
Understanding who your current audiences are and who your ideal prospects are is the critical element here. Through this process, an understanding of what devices and which channels they engage with is determined allowing marketers to more effectively and efficiently target audiences in the most relevant ways. Remember, consumers buy on relationships and trust. The brands who prove they understand the daily activities and relationships their audiences have are the ones that succeed.