Event Highlights: SAP CRM Marketing Summit Montreal
Since there was global interest for this Event: SAP CRM MARKETING SUMMIT MONTREAL, I thought I’d give you a short summary of interesting points raised during our day… On October 20th, Marketing and IT professionals from leading companies in the consumer products and manufacturing industries met in Montreal, Quebec, Canada to discuss marketing best practices, hot topics and to get a preview of the upcoming CRM Marketing solution.
We started on a funny note with Dilbert’s Daily Strip for October 20, 2010 (related to Marketing — odd coincidence)…
and then we went on to prove that Marketing entails definitely more than liquor and guessing!
Marcus Ruebsam, SAP Solutions, LoB Marketing gave an overview of a recent study conducted by the SAP CMO Community in Q3 2009 with 40 CMOs and senior marketing executives around the world to understand their main agenda for 2011.
Half of the CMOs interviewed during the survey, saw room for improvement in their overall assessment of marketing quality and performance at their company. In addition, 80% listed external factors as drivers of operative marketing changes. Of that group, 55% related to the economic crisis as a key driver that is increasing the requirements for marketing efficiency. The other half did not relate to the crisis, but are seeing a significant change in customer behaviors that are bringing new challenges.
Total Customer Experience (TCE) was listed by 37% as the top item on their agenda for 2011. Although, when asked if TCE is a relevant focus, 94% of respondents saw it as relevant. CMOs are not yet satisfied with their performance in the Total Customer Experience area… The top 5 marketing processes named as having the greatest potential for improvement out of 11 were planning/budgeting(35%), sales-/channel-related(29%), new media-related(23%), marketing process efficiency(23%) and integrated communication(19%).
Social media represents a challenge for many CMOs and active Web 2.x management is generally still in its infancy. 20% of CMOs in the study have placed the topic explicitly on their “Agenda 2011” and 25% of CMOs see “social media” as a marketing process challenge. The general trend is to establish new competencies / skills internally, with about 75% of CMOs building up “new” skills in marketing in order to meet the challenges. Refer to this The “CMO Agenda 2011” …. Not Social Media, but rather Total Customer Experience being top of mind! for more details.
After a demo of the CRM Marketing solution, which highlighted key aspects around Marketing Resource Management (MRM), Guy Hellier from the Digital Media Group at OpenText Corporation gave an overview of the Digital Asset Management by OpenText.
Refer to the following blogs/videos for details on SAP DAM by Open Text:
- Digital Asset Management – Enrich Marketing Processes
- SAP Digital Asset Management by Open Text
- SAP Digital Asset Management by Open Text – Creation process
- SAP Digital Asset Management by Open Text – Search process
- SAP Digital Asset Management by Open Text – Functional Highlights
- SAP Digital Asset Management by Open Text – Video Capabilities
Also, look at the following blogs/videos for details on MRM capabilities coming out in CRM 7.0 EhP1: Marketing Funds Management: New CRM 7.0 EhP1 Functionality and Integrated Marketing Calendar.
Then, on to Social Media with Dawn DeVirgilio (@dawndevirgilio), Product Manager Social at ExactTarget, who provided interesting information on how consumers engage with brands and suggestions on how to best communicate with consumers.
A brand is no longer dictated by corporate or a branding team, but instead it represents the sum of conversations happening about the brand across all interactions—online, offline, in the news, etc. It is clear that consumers now have a megaphone, so transparency is not optional and social media is not a silo.
ExactTarget conducted a 6-part research series called ‘SFF’ with the main goal to unlock the data required to understand the groups that are creating the brands of today. Subscribers(email), Fans(Facebook) and Followers(Twitter), what she refers to as ‘SFF’ — are critical corporate assets that exist in databases, online, offline and sources of data. And these assets must be nurtured, protected, and understood. She gave an interesting analogy for sustainable marketing: “Think of customers not as trees to be harvested, but as windmills that can continually drive sales either through their own purchases or through the way they support our brands through conversations, product reviews, blogs, or engaging with us through email and social media.” Our role as marketers is to inject energy through our marketing programs. Done right, it provides content and a reason for consumers to get excited about us and carry our message.
The SFF research also showed the following: 93% of US online consumers are subscribers to a brand’s email campaigns; 38% of consumers are fans of their Facebook page (or “Likes”); 5% follow a brand on Twitter. In addition, the research looked at understanding people’s priorities in the morning or where was the first place they went online… 58% went to email first, 20% to a search portal, 11% to Facebook. Also, when consumers were asked why they became SFFs of a brand — for Email the results weren’t surprising: the majority wanted discounts and freebies. On Facebook, they wanted discounts(40%), BUT a close second was to show support for the company(39%). Who are most likely to purchase from a brand after becoming a Subscriber, Fan or Follower? Results indicate that Twitter followers are the target group, because 37% of them are more likely to purchase from a brand after becoming a SFF, as opposed to email subscribers (27%) and surprisingly Facebook fans (17%).
An important point is that SFFs overlap. So, when creating a plan for conversations with these consumers, you want to be aware of:
- Crafting a plan where SFFs have incentives for participating across the different channels
- Moving those SFFs towards the overlap of SFFs to create truly loyal consumers who are in the conversation with you about your brand
She highlighted five key things that provide a framework to help marketers build and prioritize their digital marketing strategy:
- Engaged listening; Marketing is no longer about control, it’s about participation, so leverage CoTweet to engage in conversations and track conversations about a brand
- Social swat team; Empower your teams (HR, Customer Service, Sales, Marketing, PR) to collaborate on the front line
- Humanize the brand; CoTweet introduced the concept of CoTags, which allows people to sign off on tweets and revealed the people behind the brand. Also find your contributors to better understand what they’re saying.
- Resonance; Useful tweets get better resonance… Resonance is a measurement of approximately 9 factors — for instance: # times the tweet is viewed, is marked as a favorite, is re-tweeted, etc.
- Data… on-demand data; Leverage data in real time about conversations and actions (likes, checkins, etc.) to get a 360-degree view of the person across all modes of communication. It’s no longer about sending out an email campaign waiting for that data to come back and then creating another campaign. It’s what data do you know now and how can you leverage it!
Finally, Kijoon Lee from the Consumer Products-Retail Co-Innovation gave a preview of the innovation initiatives for Marketing, including:
- SAP Consumer Mobile Solution — enables companies to engage consumers via mobile phones (e.g., iPhone) to communicate targeted promotions and marketing messages and to provide personalized shopping assistance at retail stores.
- SAP Collaborative Promotions – facilitates collaborative processes between CP manufacturers and retailers on joint promotions, from consumer insight sharing and planning to execution and post-event evaluation.
These solutions are being developed through SAP’s co-innovation program focused on next generation cloud-based solutions that enable collaborative processes and insight sharing across CP manufacturers, retailers, and other business network partners. Through this program, SAP and leading retail and consumer products companies are collaborating closely to tackle high priority business problems and design powerful solutions and compelling user experiences through iterative ideation cycles and rapid prototyping. SAP also brings to bear the most advanced technologies in the industry – cloud, Web 2.0, analytics, mobile, in-memory computing – to solve the customers’ top business needs.
P.S. Q4 was busy and it took me some time to release this blog, but I thought it was a suitable timing on this ‘2-month’ anniversary and I hope you will find it interesting.