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Using Martech to Stop Selling to Consumers and Drive More Revenue

By Colin Reid | August 20, 2020 | 0 Comments

In times of economic turbulence and disruption, brands typically concentrate on marketing activities that directly drive revenue. I am not saying it is right or wrong, but it is a simple reality driven by economic constraints and volatility represented by the times we’re in.

Conversely, during times of stress and anxiety, consumers focus on themselves, their loved ones and specifically, their own needs and ambitions. They are more cynical of brand positioning and sales and are going to put a greater emphasis on their own exploration, experience and self.

 

These two ambitions are in conflict.

 

“Oh gosh,” you’re thinking, “now he’s going to opine on empathetic marketing in times of disruption.” I’m not. That topic has been deliberated on for months by other, more talented authors. Instead, I want to talk about how to connect seemingly divergent consumer motivations and marketers’ ambitions outlined above.

“How do marketers use technology to let consumers explore and research at their own pace whilst driving profitable revenue?”

Gartner research shows that if you can facilitate a consumer’s desire to reach their own needs and ambitions on their own, it has a multiplier effect on your ability to capture subsequent purchases. We’re not talking about upper funnel tactics to own search and social, but instead delivering specific and meaningful communication to enable consumers to explore their needs and outcomes ahead of consideration for your products and services as a solution.

To do this from a technology workflow, there are three modules that you need to implement. As you consider these, you must already have a business plan or strategy in place. Your business and strategy will drive technology, not the other way around. An excellent start is: Narrative Design: Connecting Brand Stories With Customer Experience

 

  1. Consumer Insight

This module delivers capabilities to answer two questions:

    • Who are you?
      • Do I know you? If not, do you remind me of someone I do know?
    • What do you want?
      • Based on the 1st part and attributes I aim to determine ambition and intent
      • This informs me, as a marketer, what I want to say to you

 

Most marketers use this to determine next best action (NBA) and then execute. That is their process and the NBA is inevitably “buy this” because the focus is on what they want to say to the consumer, not what the consumer wants to hear. By integrating the next two modules, you can elevate beyond most in the market and be more successful.

 

  1. Content Operations

This module brings to life all of your content, including marketing content, offer banks and many other aspects. Here you can balance Consumer Insight by answering:

    • What can I say to you?
      • What do I have available to say to you?
      • Can I deliver it to you in manner and place you want to receive?

Now that you  know the first two modules – use the third module

 

  1. Customer Experience & Efficacy

In this module, you combine 1 & 2 and add some inputs to answer:

    • What should I say to you?
      • Brand rules
      • Compliance, privacy and ethics
      • Budgets (I cannot say everything to everyone)

 

In this last module, you optimize your marketing by balancing the consumer intent and ambition with capabilities and need to drive revenue. There may be a perfect fit, but more likely there will a bit of a compromise. Either way, the output from using all three modules is going to be a lot better than using a linear NBA to tell the consumer what to buy.

 

How do I deliver this?

 

As you read this you will realize I haven’t mentioned or called out a single type of technology. That’s deliberate. In today’s martech and adtech the platforms are expansive and solutions multi-faceted, so there is no benefit to listing a load of tech acronyms and tell you to use them. It doesn’t work. Instead, do the following:

 

  1. Watch this video on how to plan martech: Optimize Marketing Technology Cuts in Turbulent Times
    • Although it mentions “cuts” in the title, the approach is applicable to planning and organizing your technology ecosystem
  2. Use this research to view a process on delivering these three modules: Deliver Martech Success, Efficiency and Cost Optimization in Challenging Times
  3. If you do want a list of technologies, refer to the following research: The Gartner Marketing Technology Vendor Guide

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