If you are a marketer at any level reading this, you are probably a little tired! Maybe the New Year brought more target pressure than cheer. I completely empathize with you.
On one hand, there is now a clear mandate for you to align with revenue – and visibly demonstrate conversions and RoI. On the other, you have this complicated ecosystem of vendors from whom you have to choose trusted lieutenants to join you in battle. And they all claim to have one or all of the following:
- A magical predictive algorithm
- This amazing personalization technology
- A super awesome data-driven approach
- Some complicated omni-channel marketing stack
- Produces RoI faster than Bolt runs
It’s confusing. It’s complicated. You know what? It’s maddening. And a little tiring. Oh wait…I need to make my weekly conversions report and share it with management. You resume the daily battle. So it goes…
Been there? Yup. I can see a whole bunch of you nodding your head as vigorously as you shake them after meeting one of these vendors.
This year, be firm. And use this magical mantra – “Prove it!”. How does this work?
1. I have a magical alg….PROVE IT!
- A good algo should find smaller and smaller sets of users who create larger and larger % of all your conversions. So, the 20% – 30% users who produce nearly 100% of your conversions
- Great algos have an awesome AUC curve. At an AUC of 0.5, an algo is as good as a coin toss. Its just as likely to be right as it is to be wrong. If the AUC is less than 0.7, don’t work with the vendor, they need to improve. If its above 0.8, sit up and take notice, the vendor has a great Data Science team
Ask the sales guy these hard questions – and if they stammer and stall, throw them out. They are wasting your time.
2. This amazing personali…PROVE IT!
Oh..this one gets my goat every time!
If there are a million users to your home page, you should be loading at least 250,000 to 500,000 unique versions of the home page. Maybe more.
- And no, uploading 20 different creatives and loading them for those million users based on some segmentation criteria is not “segment of one” or “hyper personalization”.
- There is only one way you can do hyper-personalization until we invent a super fast robot that will upload 250,000 creatives on your website – templates!
So, ask the sales guy this: do you have a template driven approach to personalization?
If they don’t give you a good answer, throw them out. They are wasting your time.
3. A super awesome data-dri….PROVE IT!
Data-driven – the largest & most abused term in the marketing tag cloud!
- Does the vendor have their own tag to collect data from your website or app?
- Do they have a tag but charge you separately for the Data Management Platform (DMP)? That’s a crime. Don’t pay for the DMP, that’s just an enabler. And no matter what anyone tells you, the DMP must be free.
- Do they show use cases that create value using at least one data variable unique to your industry?
If the answer to any of these questions is a no, throw them out. They are wasting your time.
4. Some complicated omni…PROVE IT!
This one is my favorite!
You have an omni-channel stack only if ALL of the conditions below are met:
- There’s only one tag that the vendor fires on your website. More than one means another piece of their tech needs to collect data separately.
- Data must move through the stack seamlessly. If someone talks of “download here – then upload there”, that means the systems are not connected.
- Data must flow from and between your assets and their marketing channels instantly – within seconds, not minutes or hours. If anyone talks of “delay of X hours” that’s not omni-channel.
- The (free!) DMP they give you must be able to provide data to all your marketing channels. And you should be able launch all their marketing channels from one hub.
Throw them out if any of the above is not clearly present.
5. Produces RoI faste…..PROVE IT!
I know many marketers who are waiting for nearly two quarters for their first use case to go live. You have lost half the year, your bonus, promotion and peace of mind.
If the vendor takes more than four weeks to integrate and launch – and that includes tag implementation, offline data ingestion, channel set-up – everything – chuck them out. Six weeks tops.
Not only does it mean their tech is complicated to integrate and use, worse, it means they are not agile. Marketing today is all about rapid iterations and experiments.
Complicated marketing technology will NOT help you get there. Period!
So there you have it. A way you can convert the logo vomit map that is marketing tech today into a more manageable list of options you can reliably choose from.
Ready to rock your conversion goals? PROVE IT!
Write back to me at email@example.com with your views.