With the rise of social media, content and analytics has brought greater reach and a scientific discipline to marketing.
“As the internet has become more advanced and online interactions more abundant thanks to social media and the explosion of mobile devices, marketers now face new opportunities to reach consumers in more personalized ways at scale through rich consumer profiles and highly targeted and measurable strategies,” explains Daniel DeZutter, Senior VP, Epsilon. Epsilon, which unveiled its India operations in September 2015, champions the email, data, loyalty and digital marketing domain.
In a brief chat, Epsilon’s Daniel DeZutter throws light on the changing landscape of the digital marketing space, where India figures in their analytics strategy and more…
How has the digital marketing space evolved over the years?
In its infancy, digital marketing efforts were similar to traditional advertising as marketers attempted to reach the masses through search engine marketing, display advertising and banner ads, with limited targeting capabilities. As the internet has become more advanced and online interactions more abundant thanks to social media and the explosion of mobile devices, marketers now face new opportunities to reach consumers in more personalized ways at scale through rich consumer profiles and highly targeted and measurable strategies.
Could you explain the role of marketing analytics in consumer engagement?
To truly recognize consumers in the digital ecosystem, marketers must have a foundation of first-party, transactional and third-party consumer data. But data is useless if you can’t derive insights out of it. Analytics is what enables marketers to deepen their understanding of consumers and why they act the way they do. Through this level of understanding, marketers can deliver customer experiences that better engage audiences and create a lasting relationship.
Can you give us a brief about some of the analytics solutions that you work on?
As marketers look to deepen their audience targeting capabilities many of our biggest use cases include predictive modeling. Marketers are no longer using data to look at what has happened in the past but rather to predict what is going to happen in the future. Through predictive modeling we help clients identify propensity for next purchase, customers most likely to attrite and identify high-value customers.
What are the most important trends that you see emerging in the ad tech space across the globe?
There’s been a lot of talk in the industry about the convergence of marketing technology and advertising technology but what it really comes down to is a marketer’s ability to take a people-centric approach to digital marketing. This means being able to accurately identify consumers across devices – online and offline – in the moments that matter most for a particular business. Leveraging data to create unified profiles is what will ultimately allow marketers to activate digital channels, deliver personalized marketing and create better experiences for customers. That’s the promise ad tech and mar tech should deliver on and the biggest trend we’re seeing across the globe.
What are the key differentiators in your analytical solutions?
Epsilon uses data analytics to help our clients make better business decisions that result in better business outcomes. This includes identification, segmentation, predictive modeling and measurement that allows us to transform massive amounts of data into useful insights. Beyond the deep talent and expertise we have in this area – including more than 150 statisticians, analysts and consultants – our key differentiator is our data. We help marketers understand their consumers better through consumer profile, preference and purchase data. This can be further augmented with third-party data overlay to enable analytics. We also send tens of billions of emails annually on behalf of clients and see 10s of billions of conversions across media channels. Using analytics we help brands use this information to better understand their customers’ lifestyles, attitudes and behaviors to connect with them on a deeper level, now and in the future.
What are some of the key challenges that you are facing in this area?
Our analytic capabilities must advance alongside the industry. One key challenge is attracting and retaining the talent that will help us do that. We also need to be able to deliver superior solutions to global clients around the clock by becoming even more global than we already are. From a solutions perspective, the key challenge in analytics stems from our ability to overcome the various data silos that exist within client organizations and develop consumer profiles that allow our clients to deliver personalized messages and offers in real time.
What are your thoughts about analytics in India? Where does it figure in your analytics strategy?
We view analytics in India as a critical component of our overall analytics strategy and as an opportunity to overcome some of the challenges outlined above. Our ability to deploy a variety of solutions that help our clients improve customer experiences and drive better business outcomes around the clock is heavily dependent on the rich talent market in India. We are hiring in India at a very-high growth rate and this expansion includes analytics talent.