MarTech: Data is the world's most valuable resource: Antonia Edmunds
Edmunds, Head of Acoustic, Asia Pacific & Japan, shares insights on developing the right tech to engage with consumers
At MarTech India 2019 Conference & Expo, Antonia Edmunds, Head of Acoustic, Asia Pacific & Japan, gave a keynote session on ‘Building the Right Technology Stack’.
Edmunds shared practical examples of where technology is really improving and the challenges marketers are facing.
She said that 90 per cent of the world’s data has been created in the last 12 months. “Data is now the world's most valuable resource after oil. Much has been said about the challenges for marketers. Data has multiple silos, it is not integrated and it is difficult to have a customer view. In addition, data and the increase in the number of channels that are emerging we also have a number of tools. The average organization has 91 marketing tools”, remarked Edmunds.
Marketers who are tasked with providing different customer experiences in that environment aren’t competing with their industry competitors only on Instagram, they are competing on Flipkart, Paytm and the greatest digital experience provided to marketers.
On the paradox of that, Edmund says, “Because of the result of increasing scepticism and trust issues consumers are less willing to share data. It is necessary to make those experiences personalized.”
Marketers are trying to solve the problems of more applications, generating more time from people and waiting for results. “We are having more applications to do more case studies and demanding more time from people as we know that our market sizes are increasing but the budgets are not. We are waiting for the results. This means we can’t optimize or change to optimize those experiences. This results in poor customer experiences”, Edmunds said.
Customer experiences matter. Eighty nine per cent of organizations believe that customer experience drives differentiation. An IBM study says it also drives profitability.
Marketers are trying to create a seamless customer experience both online and offline. The customer experience should be consistent, efficient and personalized.
Speaking about technology and consumers, Edmunds said, “Machine learning allows marketers to gain knowledge while AI provides them with wisdom. AI helps in uncovering actionable insights, responding to customer demand for personalized experiences and changing the way we work and access the tools.”
She concluded, “When customer experience is king, marketing runs the business”.
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