Data has to be integrated
Today was the second day on being the ‘job’ which honestly didn’t feel like one yet again! There was only one session based on the theme of Adaptive Marketing, but I totally loved it and didn’t sulk on the fact that there were no more scheduled sessions.
The session hosted by Alibaba CMO – Chris Tung on New Marketer Experience: Exploiting the Power of Data was mind blowing!
5 Learnings from the Theme:
- Integration of Data: The Consumer Journey in the modern era of marketing isn’t linear as media touch points are fragmented. This means that we need to understand the consumer better at every stage of their journey and the data must be integrated in a way that’s meaningful for marketing.
- Build a Power ‘Data Bank’: Alibaba have grown their business not only through ecommerce but the richness in data which lies at the platform. They’ve build the ‘Data Bank’ for every brand for driving efficiencies in marketing. Marketers now can access their individual brand data and build campaigns and serving ads better.
- Measurement of Campaign Effectiveness: Data if intelligently mapped could be useful in terms of data interpretation. The Uni marketing product at Alibaba just about helps in measuring campaign effectiveness and in certain case it was helped in improving sales by 50% for certain brands.
- Change is constant: The availability of data will have a dynamic impact on marketing and there is a going to be a lot more to be worked upon by marketers in the times to come.
Summary for the Day:
The story today was mostly about simplifying the consumer journey by decoding big data. The 3 challenges on ROI, relevancy & targeting in this journey were typically addressed. For this, Alibaba has figured a solution as well through a brand-new marketing product known as Uni marketing, which is based on the ‘Data Bank’ learnings. The session ended on the bold note that this will be a change in the history of marketing and will make a marketer’s life much tougher. There is so much to learn from this session, since there was logic that has been put in every theory stated and eventually the loop was closed!
Quote of the Day:
‘Consumer Journey is never linear’. – Chris Tung (Alibaba)
Written by Supriya Malhotra