Last week at our worldwide users’ conference, Informatica World 2012 we outlined a vision for the future of marketing. Through specific keynote demonstrations we showcased how to open up new channels to market through social and mobile marketing. These advances can only be delivered through a clear and pragmatic understanding of data combined with trust – data about your customers and their trust in you to open up their social networks and invite you in.
Consider the world of traditional loyalty marketing. As a consumer you buy from your favorite retailer. Usually, the more you buy, the bigger the discount you receive. This model has been proven over the years and refined by retailers across the world. Key to the effective execution of loyalty marketing is master data management since it allows you to consolidate the view of your customers and clearly understand the relationships that exist between them and both the customers and the products they have purchased. However, it is normally implemented within the scope of the internal enterprise.
Social marketing is all about extending that relationship into your customers’ favorite social networks. We call it “social MDM”. Through connectivity to Facebook, for example, the MDM relationships are extended to include those across your customers’ social networks. Now, with their permission, you can promote products that friends are bragging about. Consider how much more valuable this is when compared to the traditional world of other retails who merrily recommend other products that you might like based on random individuals who have purchased the same book as you or downloaded the same song – not your friends’ recommendations.
Now, for the first time ever, you can promote products to customers that their own specific friends have promoted. Clearly trust is critical here – I believe that customers will trust their favorite brands but will quickly rebel if they feel abused. So watch out enterprises – the power of social backlash can be enormous if trust is abused!
Mobile marketing is all about extending that same relationship through the GPS sensors within your mobile phones and promoting offers and events based upon who you are, what your friends are talking about and your location. Imagine walking past your favorite store and being offered a special discount on a product you have had your eye on.
All of this is only possible by understanding you, the customer and your relationships – both within the traditional enterprise and across our social networks. The world of marketing is changing and it is changing because we now have the tools available to understand the data of consumerism more profoundly and more completely than ever before.
If you are having trouble believing this change, then take a look at the keynote delivered by Sohaib Abbasi, Informatica’s CEO, at the recent Informatica World conference. You can find the complete presentation at www.informaticaworld.com - including demonstrations of traditional marketing, social marketing and mobile marketing.
I would be interested in your views.