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Posts Tagged ‘text analytics’

Today’s post is a bit different from the usual.  We won’t be diving into a key topic at the intersection of brands, marketing, innovation and technology, nor will we be presenting a Q&A with a forward thinker in the space; instead, I am asking for your help with a project.

iStockphoto

Source: iStockphoto

I am in the process of writing a book – tentatively titled Connected Marketing – that is for marketers, that covers the topic of marketing technology and that is meant to help marketers deploy and use technology in a substantially-different way than they do today.

This book has evolved from a convergence of 1.) my interests and blogging about this space, 2.) my past experiences as a marketing leader and consultant in the technology industry, 3.) my ongoing discussions and interactions with leaders in the marketing technology space and 4.) research I’m conducting as part of my current graduate program, which I will conclude in May 2009.

So what are the details, and how can you be a part of helping marketers to better leverage technology and, thus, to take the ‘connectedness’ of their marketing organizations to the next level?

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Over the past few months I’ve checked in with a number of current and past colleagues and acquaintances who work at a variety of marketing services agencies — PR, ad agencies, social-media firms, brand consultancies, etc.  In addition to the usual pleasantries, our discussions could not help but touch on the state of the industry.  I’ve also seen and commented on a growing critical mass of news articles and blog posts on the future of advertising and PR  firms.

iStockphoto

Source: iStockphoto

What has been interesting about all of this dialogue, both online and off, is one consistent theme:  The business environment for ‘traditional’ agencies is changing … radically … and overnight. 

“I hear death is imminent for your business model, in fact I’ve heard the industry itself might be beyond repair,” commented Kyle Flaherty, a former PR agency professional and current tech-industry marketing director (now on the ‘client side’), in a December post on his Engage in PR blog.

What is causing this ‘plague’ of Biblical proportions throughout the agency world, and how can agencies overcome this situation by preparing for the next-generation of client expectations?

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I wrote in a recent piece on this blog, titled “Marketing Personalization 2.0,” about how companies are increasingly applying techniques from mass customization, using ideas such as personas and embracing what Patricia Seybold refers to as ‘customer scenarios’ to improve personalization of marketing efforts.  I also cited a range of technologies that can manage execution of this type of marketing.

Yet, even as this evolution represents an advancement over Marketing Personalization 1.0 (i.e., demographic and lifestyle channel targeting), there is much to be desired.  We are still at a point as marketers where we are guessing at personalization.  It is still possible to make costly mistakes, particularly if we misjudge customer persona or the channels for interacting with a given persona.

Adam Needles, Propelling Brands (original)

Source: Adam Needles, Propelling Brands (original)

“If you think backward from the audience you’re trying to reach and the channels and methods you’ve used to try to reach them, it all argues for taking a much more integrated approach to the work of marketing and communications,” argues Jon Iwata, SVP of Marketing and Communications for IBM, quoted in a recent piece by Paul Dunay on the MarketingProfs Daily Fix blog.

Fortunately, waiting in the wings is a new wave of technologies that promise to rapidly leapfrog the current state and to take us to what I believe is a very tenable basis for structuring and ‘propelling’ forward to Marketing Personalization 3.0 (see diagram).  These technologies, which include semantic analysis and social graphs, offer the potential not only to get closer to customers than ever before, but they also approach enabling what I believe is true ‘co-creation‘ of the marketing experience.

What do I mean by this?  Customers, who increasingly have power and leverage over brand-companies, will not only specify what they want but will also shape the boundaries and expectations of their communication with, recommendations regarding and the ultimate delivery of products and services from vendors. 

The entire experience will become a partnership, but why is this important?

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I ran across Leximancer doing research on technologies that can help with assessing brand perceptions from the volumes that are written about brands and companies via various communication channels.  Specifically, how do you analyze all of the news stories, blog posts, broadcast transcripts, customer e-mails, etc. that a company is innundated with – what amounts to massive amounts of unstructured data – and figure out what it all means for your brand, its reputation and its key relationships?

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