Steve Earl Senior Director, Product Marketing, Oracle Marketing Cloud
It’s become common knowledge among marketers that personalized marketing provides higher ROI and directly benefits consumers in the form of better engagement and more personal brand relationships. Therefore, smart marketers are constantly investing and pushing to make their marketing more personalized. Yet, these same seemingly smart marketers are making a dumb mistake – forgetting to focus on the underlying fundamentals which are the key enablers of good marketing personalization.
In a Harvard Business Review article, Mark Ariker et al. described the importance of integrating three key factors to developing a learning ecosystem for high quality, scalable personalization. They called this the 3Ds – data discovery, decision making, and content distribution. These three must be integrated to deliver on the promise of personalization. This practical approach is how the Oracle Marketing Cloud helps to bring these capabilities together.
The 3D Approach to Personalization at Scale
Data Discovery covers the process of “sourcing and combining traditional and behavioral data to uncover meaningful insights about customers.” Data discovery is often underutilized due to how challenging it can be to coax meaningful insights from a wide range of disparate data. Oracle’s Data Management Cloud uses the Oracle ID Graph to unify data across multiple online and offline channels to easily develop a singular and holistic view of the customer.
Decision Making can be automated with AI as long as there is a source of high-quality data and the advanced analytic capabilities to recognize and utilize patterns, behaviors, and preferences. Oracle built its reputation on providing easy access to the highest quality data. Oracle’s Data Management Cloud, in conjunction with the analytical models from the Oracle Responsys platform, provides marketers with the data and analytics needed to scale up and deliver high-quality personalization.
Content Distribution is the next concern for a marketer once you’ve sourced the scalable data and powerful analytics required for personalization. Today, content distribution seems to be only about getting the right piece of content to the right person. Yet this is insufficient to live up to the expectations of today’s consumer. In addition to the right content to the right person, distribution capabilities must also include delivery on the right channel and at the right time. With Responsys’s advanced content distribution capabilities, marketers can create hyper-targeted, consumer-centric, digital orchestrations for any consumer across any device in real-time.
Marketers are facing real challenges today in scaling up their personalization, delivering better, richer experiences for their customers while creating higher ROI for themselves. The 3D framework provided by the HBR can provide a useful approach to understanding how to tackle the key areas which may be limiting your ability to scale personalization today. Oracle’s solutions can help in each of these critical path areas, providing better data inputs, more advanced and automated decision making, and seamless engagement across channels.