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The MarTech Digest
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Marketers need to adopt a new definition for marketing automation, one that includes both the automated components and that recognizes that marketing automation is a process that marketers must manually initiate. Advanced/ Digest... Marketing automation refers to the process in which artificial intelligence and predictive analytics are used to automatically deliver and manage custom advertisements or communications to the person most likely to take a marketer's desired action.
Breakthroughs in three key areas are leading us to a point where this new definition moves beyond concept and into action.
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Joemktg's insight:
It's all about the data: in one place, supplemented with external sources, put through the algorithm grinder, with predictive results. This is NOT database marketing: it is the power of the algorithm applied to the data. So how important is the Acxiom/Marketo announcement? 
Joemktg's curator insight,
April 9, 2014 7:29 PM
It's all about the data: in one place, supplemented with external sources, put through the algorithm grinder, with predictive results. This is NOT database marketing: it is the power of the algorithm applied to the data. So how important is the Acxiom/Marketo announcement?
Scoop.it!
Marketers need to adopt a new definition for marketing automation, one that includes both the automated components and that recognizes that marketing automation is a process that marketers must manually initiate. Advanced/ Digest... Marketing automation refers to the process in which artificial intelligence and predictive analytics are used to automatically deliver and manage custom advertisements or communications to the person most likely to take a marketer's desired action.
Breakthroughs in three key areas are leading us to a point where this new definition moves beyond concept and into action.
____________________________________________________ ► Receive a FREE daily summary of The Marketing Technology Alert directly to your inbox. To subscribe, please go to http://ineomarketing.com/About_The_MAR_Sub.html (your privacy is protected).
Joemktg's insight:
It's all about the data: in one place, supplemented with external sources, put through the algorithm grinder, with predictive results. This is NOT database marketing: it is the power of the algorithm applied to the data. So how important is the Acxiom/Marketo announcement?
Joemktg's curator insight,
May 19, 2014 6:33 AM
It's all about the data: in one place, supplemented with external sources, put through the algorithm grinder, with predictive results. This is NOT database marketing: it is the power of the algorithm applied to the data. So how important is the Acxiom/Marketo announcement?
Scoop.it!
Advanced/ Digest... Any company that uses marketing automation should be considering how the data being collected can not only inform what to market now, but also where to take the business in the future.
Automation is the only way you can keep ahead of the curve in a scalable way. It is impossible to manually capture data about product performance, and research and analyze product intelligence, competitive positioning, and search demand in anything resembling real-time. But it's this combination of data and trends, collected in real time or nearly and analyzed immediately upon receipt, that allows us to see how a product's performance is actually changing and get ahead of opportunities to perform in a marketing channel. Automation doesn't ask us to look at something after it happens, but rather provides insights into how performance of a product, or behavior of a customer, is changing.
It's automation that acts on the data, in real time; if an opportunity is developing, automation can instantly capitalize on it. Marketing teams cannot manually capture all that data in real time, analyze it, and act upon it, to say: "Let's get ahead of this; let's take advantage of the opportunity brewing at this very second." Even if the teams can process all of the data they receive, by the time they finish, it will be too late to take any actions. But if there's something you can develop or market or provide to your customers because automation told you it would work, you're beginning to embrace automation's full potential: not just want to recommend now, but what to do next.
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Joemktg's insight:
Completely agree, but this is not going to be accomplished through home grown tools. Look for MAP that have predictive capabilities, then ask for a demo.
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Back in the day, understanding what customers needed was largely a guessing game, but with today’s tools like analytics and marketing automation, predicting customer behavior is much more simple.
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Joemktg's insight:
Compare this to the adjacent infographic regarding the cost of a lead, and ask yourself where you'd rather be.
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Last week, Bank of America suffered brand damage with an automated social media bot. Their intent was good: to automatically detect tweets that mentioned the bank and reach out with an invitation to help. Key excerpt... Differentiating between expected customer experiences vs. serendipitous content is the key concept in this algorithmic marketing matrix. This reconciles two parallel movements in modern marketing — the customer experience crowd that is focused intently on fulfilling (or exceeding) expectations and the computational marketing/big data crowd that is focused on using machine learning and predictive analytics to improve marketing performance. When customer expectations are on the line, you really want human supervision and judgement. The stakes are high here, because if you fail to fulfill expectations, your brand will be damaged.
Joemktg's insight:
Excellent post on the expectations of visitors that consciously seek you out, and how predictive or automated responses may very well work against you. Predictive is a tool, and when you have it your hands (soon), it needs to be treated as such. The B2B marketer does not have such a severe number of visitors/suspects/leads that he/she cannot overlay predictive with human touch.
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MAP + Predictive = a gamechanger in your industry. It's doable.