No less than 38 speakers, 39 sessions and 706 attendees - this was the second and virtual edition of the 5th Conference on MarTech on September 24th. Although virtual, the conference felt like the full experience with interesting keynotes and even networking opportunities with fellow marketing and business professionals. If you missed it, take your chance to attend the next edition in 2021, grab a cup of coffee and read your recap of the 2020 edition here.
1. Digital transformation is not optional
86% of buyers are willing to pay for a great customer experience and 73% of people point to customer experience as an important factor in their purchasing decisions. Customers expect a lot, like privacy preferences, channels they want to be contacted in … and they want it now. 57% of your customers will leave your company if you don’t meet their expectations. If you don’t deliver the optimal customer experience, you are going to lose.
There has been a complete - not at all unexpected but accelerated - shift to digital. Everything is happening online. Therefore companies are relying much on the cloud and data to anticipate opportunities and evolve to a data driven and personalized marketing. Moving away from the mass digital approach based on limited data, to relevant experiences based on accurate data provided in real time.
2. Integrating CDP can double your sales
Even though your company culture is reluctant, displaying skepticism and questions, investing in CDP (Customer Data Platform) proves to be worth it with immediately visible results even after a few months. Michel Lenaerts (Senior Marketing Advisor @ Belgian Cycling Factory), testified how Belgian Cycling Factory successfully integrated a CDP with the help of BlueConic. Belgian Cycling Factory basically doubled their sales towards the dealers and their dealers sold way faster. CDP helped them to getting to know their customers and address them in a more personalized way. By being able to segment very deeply and fine-mazed, there turned out to be a lot more potential in the market!
3. People buy from people
People are very powerful. They have massive influence and are way more trustworthy. Personal posts get your company traction, even if you don’t mention your company’s name. Because people buy from people. Michael Humblet (Performance marketing & sales expert and owner @ Chaomatic) advocates a thought leadership content model. Shift your content to inspirational and educational by showing expertise. This content is already within your organization, you just need to pull it out.
4. The rise of no code solutions
There is an immense - with 5233% - growth in the number of different marketing technology solutions. Scott Brinker (VP Platform Ecosystem @ Hubspot and editor @ chiefmartec.com) identifies an enormous evolution in the MarTech landschap, from 150 in 2011 to over 8000 in 2020 and continuing to grow. While in the past you could only customize these platforms if you have a technical team, no code solutions are arising on the market. These are tools to help non-technical business users to create interactive UI without having to be programmers, for example by using a spreadsheet.
5. Focus on the one metric that really matters
Achieve optimal growth by focusing on one core metric that really matters instead of vanity metrics, so says Braulio Medina (Head of Growth @ Rei do Pitaco (Brasil) // Founder @ Growth Team LLC). Many companies are focusing on the North Star Metric, which is the biggest metric for a company indicating you are growing your business. For example, the number of monthly active users on Facebook or the amount of time listening on Spotify. Instead, companies should focus on the one metric that actually really matters, indicating the AHA-moment. For example when one Facebook-user connects with seven people in the first days on the platform, which will likely result in retaining this user. This will really grow your business.
6. A Christmas campaign with funny kittens in December on Facebook will bring you 5K
The ROI prediction model, introduced by Felix De Clercq (Digital Strategist @ delaware digital), enables you to optimize your ROI, based on the campaign type, content of the campaign, month of the year, channel and channel specifics and price. For example, if you do a Christmas campaign with funny kittens in December on Facebook, this will result in 5K in new valuable business in the long term. It can calculate your market share, daily reach, CPM - in other words what it will do for the business. The accuracy is pretty spot-on though it’s important to keep in mind is that it is based on historical data to train the data.
7. A one-night stand won’t save your marketing
Marketing is still mostly viewed as a one-night stand instead of a classical marriage or long-term relationship. To engage with your clients in a long-lasting and durable relationship, the tools presented by Renout van Hove (Founder @ GrowthAgent), can come in handy to manage and achieve this.
8. The leaking bucket
Andreas Creten (Co-Founder & CTO @ madewithlove, and software engineer) introduced the principle of the leaking bucket. If your users are flowing out, don’t try to bring in more leads before fixing the hole. Use NPS (Net Promotor Score), as an easy way to calculate what people think about your product.
9. It took Microsoft 2 months instead of 2 years, how long does it take you?
Because of Covid-19 companies worldwide had to change tack, as a result the digital communication strategy of companies has gone into a crazy gear. A striking example is Microsoft. The last 2 months they evolved more digitally than the last 2 years. Because they had to, given the circumstances. Microsoft is not alone, research of Frans Riemersma of MartechTribe shows that companies on average accelerated their digital communication strategy by 6 years.
10. Please get ready for your robot-sidekick
What do you think when I tell you that in work situations we want a robot for every person? Guy Kirkwood (Chief Evangelist @ UiPath) sees this as the innovation of the future. It will bring the world back together when hands are short. The robot is a software that helps people, employees are still the most important. They are still the focus, people are not going to lose their work because of robots! But there is a culture change, people will be relieved and happier, because their robot can take over different tasks from them. The combination of both employees is important to have automation as a result.
11. Keep your new clients close, but your current clients closer
Customer acquisition costs have increased by 55% in the last 5 years. Today, this accounts for 80% of companies' budget spending. With the increase of these costs, activation marketing becomes more and more important, according to Jelle en Jonathan of Actito. Activation marketing allows you to get more out of your customer relationships using data and data you already have. A solid focus on (re-)activation marketing instead of attraction marketing, why not?
12. Data paralysis is a real thing and you might suffer from it
87% of business leaders believe their brands have “low business intelligence and analytics maturity”, according to Stefaan Vandeputte (CDP Product Owner & Solution Lead @ delaware digital). A lot of companies experience an abundance of data while not knowing how to handle it and use it optimally. This is a missed opportunity though, because it is a gold mine of relevant information you can use to approach your customer, according to Carole Lamarque (CEO & Founding partner @ Duval Union Innovative Marketing). Jonathan Wuurman (VP Marketing @ ACTITO) elaborates on this, data offers the ability to interact with the different journeys of the customer to make him take action with engaged campaigns with proven ROI.
13. Get yourself a first aid kit in MarTech
Overwhelmed by the number of MarTech tools and solutions available? Don’t hesitate to ask some hands-on advice. Make it specific and relevant to your brand by requesting a run through of specific software or ask technical marketeers to preselect according to your needs. In the Duval Union network, we’ve got Renout Van Hove at your service.
Are you incorporating these insights in 2021 to jump on the MarTech train? The 5th Conference makes you reinvent and optimize your business. Hungry for more know-how? Subscribe to our email listing and stay in tuned for upcoming webinars and events.
A special thanks to the speakers of the 5th:
Matthew Berger, Senior Content Strategist @ Tealium
Michel Lenaerts, Senior Marketing Advisor @ Belgian Cycling Factory
Bart Heilbron, CEO @ BlueConic
Michael Humblet, Performance marketing & sales expert and owner @ Chaomatic
Scott Brinker, VP Platform Ecosystem @ Hubspot and editor @ chiefmartec.com
Braulio Medina, Head of Growth @ Rei do Pitaco (Brasil) // Founder @ Growth Team LLC
Felix De Clercq, Digital Strategist @ delaware digital
Renout van Hove, Founder @ GrowthAgent
Andreas Creten, Co-Founder & CTO @ madewithlove, and software engineer
Guy Kirkwood, Chief Evangelist at UiPath
Frans Riemersma, Marketing Technologist, Author, Speaker, Martech influencer top#10 in Europe, #1 in NL // Founder @ MartechTribe
Jelle Van Medegael, Activation Marketing Practitioner @ ACTITO
Jonathan Wuurman, VP Marketing @ ACTITO
Stefaan Vandeputte, CDP Product Owner & Solution Lead @ delaware digital
Carole Lamarque, CEO & Founding partner @ Duval Union Innovative Marketing