SAP Marketing Cloud, New Age of Marketing?
Is traditional marketing the correct way of communication with the today’s client?
The traditional marketing activities of the organizations often do not reach the attempt for engagement of individual customers. They try to „shout“ at the widest audience possible, whereby they avoid constructive conversation with it. They issue batch messages to the masses, but not having essential knowledge of the unique requirements and needs of the customers.
Let us have a look at the subscribers of the e-mail newsletters. Those are the people who show interest in your brand and want to know more about of your news and products. However, how many of them will actually open the e-mail? 20% in average. This means that 80% of the people who have shown interest in you would not even have a look at your news introduction. This is not right. Where is the mistake? The companies nowadays just dictate, through the marketing campaigns: Buy, buy, buy! They do not listen to their clients. And they do not listen to them in return. And, the conversation in which none of the participants listens to the other one, is not a good conversation.
If we wish a change, the first one to change is us. At first, let us answer the following questions:
- Which signals sent out by the customer are relevant and useful for us?
- And, how can we transform them into new marketing – a better one than the previous?
However, which signals sent out to the customers are relevant and useful for us? And how can we transform those into new marketing – a better one than the previous?
For the first question, there is a wide variety of correct answers: Watching. Sharing. Clicking. Blocking. Requesting information. Reading assessments. Writing evaluations. Calling to the call centers. Interaction on various smart devices. Adding items to the Shopping basket. Shopping.
For the second question, there is only one correct answer: SAP Marketing Cloud
A much more detailed description of the SAP marketing cloud is to name it a tool of marketing analysis, which has a capability to act on the basis of its own analysis. The entire functionality is based on the newest database platform, capable of processing real-time data and thereby to gain competitive advantage in dynamic responding to the customer’s needs.
However, Cloud does not cooperate only with the system data such as history of orders, but also in cooperation with other SAP platforms it is capable of collecting information on the customers from third parties – web sites, data on loyalty programs, data from the sales rooms, social networks etc. The people from marketing thereby receive more relevant information, which they can deploy for the benefit of the heading of their company. An important technologic step forward is the cooperation with the SAP platform, Cloud Analytics, which adds to the system the ability to perform prediction analyses – that means, the ability to anticipate the behaviour of the customer. Thereby, the marketing platform can launch machine learning and predictive models in the database so that segmentation of customers and their actual preferences are continuously updated.
Where does SAP Marketing Cloud surpass its predecessors?
The new and previous solutions overlap in multiple capabilities – functional broadness, control and performance of campaigns, segmentation of customers, partial analysis and other common capabilities of the marketing programs. However, SAP Marketing Cloud offers also other options in the fields such as:
- Data Management offering the possibility of analysing large amounts of generic (basic) data on the customers, transaction data (what he bought, how often, how much) and behavioural data (behaviour, opinions, reviews, assessments), avoiding wrong decisions, optimizing running marketing campaigns and utilizing new opportunities;
- Creation of dynamic profiles of customers by means of data excerpted from the online and offline resources;
- Existence of a „golden record“ of the consumers. It helps to resolve a problem especially common at B2C (fragmentation of customer records created by multiple channels and input points for those data). The marketing platform collects data from those tools and gathers them at one point, whereby it is graphically represented in a survey, which data originate from which channel. The user is capable of lining up the channels according to priorities and relevancy for his own needs;
- The expansion of the segmentation tool allows to react to the actual real-time situation of the customer and it secures, that your communication is always targeted and relevant;
- Improvement of proposals and realization of comprehensive multi-stage flow-based campaigns, which are based on relevant segments of the customers;
- The summary of assessments and comments regarding your company across the e-shop, social networks and other web sites which will, in cooperation with the platform of a text analyzer, sort the contributions according to the degree of their positiveness or negativeness;
- Incorporation of planning and realization of financial budget of the individual campaigns into pertaining data;
- Elaboration of prediction analysis on the basis of acquired data;
- Modernization of graphic display and possibilities of extensive personalization of the page appearance;
- Possibilities of managing the entire marketing from one fully integrated platform.
What is the conclusion?
With the development of the company, the needs and expectations of the customer are growing as well. If you want nowadays succeed as a seller in involvement of the customers, you have to know exactly the needs of each customer. That means, you have to know them at a deeper level than it was usual before. The answer is the integration of SAP Marketing Cloud, which may help your organization to boost the level of the conversion by increasing the ability to deploy targeted campaigns and marketing effort at the right time. Similarly, it helps to deliver tailored marketing messages, which are relevant for the specific marketing audience. After implementation, the platform will increase the potential of your organization to utilize the analysis of marketing best possible, whereby new possibilities are revealed and also the effectiveness and productivity of the marketing team is improved. Besides that, this solution helps to build a stronger customer base with increased satisfaction and loyalty, to fortify cooperation with consolidated dashboards and real-time reporting. Everything with a purpose of faster decision-making.
For the purpose of evaluation of potential impact of SAP Marketing Cloud solution on the organization, the Forrester Consulting company performed a study named The Total Economic Impact™ (TEI). From the analyses of costs and expenses it results that companies with implemented SAP Marketing Cloud achieve return on investments (ROI) at the level of 306%.
If you also wish to enter the new age of marketing and would like to learn more about the advantages of SAP Marketing Cloud, please do not hesitate to contact us. If you cooperate with a team of certified specialists and consultants, the implementation of this solution is quite simple.
Filip Žarnovický, CRM Consultant