Eloqua Experience Europe kicked off in London this week, where nearly 400 marketers are coming together at the Millennium Gloucester Hotel. Oracle Eloqua president Alex Shootman delivered this morning’s opening keynote, highlighting the strategic thinking of marketing yesterday versus marketing tomorrow, and the changes marketers must manage.
Shootman discussed how we as marketers have to be able to predict how our buyers are going to interact with us, and things like marketing ROI. We as marketers also have to stay open with our mindset and our technology in order to adapt to the ‘cool’ new technologies that we can’t predict will be the next thing.
While the concept of knowing your customer is not new, today’s modern marketers know that there are two dimensions that they have to work on in terms of knowing their customer: The first is typical demographics, the second is the buyer’s Digital Body Language, because actionable behavior is a better predictor of how a prospect is going to buy, as well as the attributes that identify the makeup of that prospect.
Shootman noted that, although the marketing landscape has evolved to be very complex, at the core everything that we’ve always known about marketing is the same.
“CMOs must digitize to survive and close the gap between today’s ‘real’ marketing and the ‘ideal.’ To do that we need to look at the past, learn from it, and build on it.”
Shootman focused on the 5 Tenets of Modern Marketing, derived from Eloqua’s study with BtoB Magazine called ‘Defining the Modern Marketer: From Real to Ideal”.
1. Targeting- Marketers always have understood that it’s better to know more about their customer. But today’s modern marketers accomplish this by blending demographics with Digital Body Language, or the attributes that make up a prospect’s behavioral profile.
Tomorrow’s modern marketers will have accomplished the trifecta of ‘Who are You, What do you Do, and Who do You Trust.’
2. Engagement- The first rule of being interesting is to first be interested in your audience. Today’s modern marketers engage effectively by using the concepts of personalized content to match ‘offers’ to ‘interests’.
Tomorrow’s modern marketers will have to use the same concept of personalized content, but it will need to show up in every channel and/or location that the buyer frequents.
3. Conversion- Since the beginning of time, every marketer has known they have to turn their programs into revenue. No one but art directors have career stability from just winning a CLIO.
Today’s modern marketers accomplish this by knowing the customer’s buying cycle, engaging the buyer all the way through the buying cycle, and delivering qualified leads.
4. Analytics – Measurement always has been a core component of determining marketing effectiveness. Today’s modern marketers need to have reports on key attributes about the buyer, channel, and offer, to understand what works and what does not.
Tomorrow’s modern marketers need to have real-time ‘What If’ analytics to anticipate change, as well as real-time benchmarking solutions.
5. Technology- No one can predict what the next cool channel or technology will be. But the platform of the future has to be purpose built to make it easy for new technologies and channels to be integrated into the daily life of the marketer.
Shootman shared Eloqua customers’ commitment to integrated marketing concepts, as marketers using at least one application on the Eloqua AppCloud, see approximately 23% more leads than those who do not use any.
Shootman also noted the importance of becoming more intuitive, to anticipate and adapt to change accordingly. He compared the changing marketer role to the evolution of the concept of ‘Mad Men’ to ‘Minority Report.’
“The reason why Tom Cruise works quickly in ‘Minority Report’ is because the technology is just an extension of his brain,” he said. “Speed wins in the future and a marketer has to go from concept to action with no delay in time.”
To learn more about the 5 Tenets of Modern Marketing, check out the Modern Marketing Essentials Library. Check back for more updates from Eloqua Experience Europe, and follow the event discussion on Twitter #EE13.