MarTech Mumbai: Have control of data, decisioning & delivery: Jay Bhuva, Deloitte Digital

exchange4media Martech Mumbai 2019, presented by Zee5, saw a congregation of specialists sharing their experience and success stories through their expertise in technology and marketing, and how the two together have been helping organisations optimise their spends while winning over customers in a digitally savy world.

The conference began with Jay Bhuva, Director, Deloitte Digital, who delivered an engrossing session on the topic - ‘Martech for paying down Experience Debt in 2020’.

He explained how his session would not only deal with marketing and technology but also something that knowingly or unknowingly was getting accumulated between the two. “It's what I call experience debt,” said Bhuva.

He said we are living in an era of unprecedented technological innovation and how all revolutions that have happened have been catalysed by technology. Bhuva said that it was applicable to today’s scenario as well. “And this number is fascinating. We all know that in the last two years 90 per cent of data has been generated. What is more fascinating is as you go next year to next year - 95 per cent, 98 per cent, everything will be at a massive scale. If you are unable to have the data that is going to give us insight, there is hardly a business it's relevant for.”

Talking about the importance of the human element in businesses, he said “Businesses will face challenges if they continue to look at prospects, targets, audience as only their customers.”

Bhuva believes, that irrespective of technology advancement, the one thing that remains at the centre, is us, which is human. Interestingly, despite having this knowledge in hand he shared how, as per their global survey, 85 per cent of CMOs, said we don't have confidence of knowing their customers. According to Bhuva, “that in the way that they approach, in the way they target is creating, accumulating a debt of experience that we owe, that we need to pay back. The biggest driver and the biggest lever the marketing community has is a set of technology, which we all put together and is called the Martech stack.”

Deloitte’s biggest bet of what's going to happen in 2020 and beyond is the single fundamental thing of elevating human experience.

The seven trends, according to him, that will shape the next trend of marketing are purpose, human experience, fusion, trust, participation, talent and agility. Through several case studies and analysis of each trend, he explained how marketers could optimise their efforts to achieve organisation goals.

In conclusion, Bhuva said: “I know it's overwhelming to have so much data consumed and so many things to grasp and identify what needs to happen next. But the 7000-vendor Martech stack need not be daunting. It's easy to categorize them.

Three categories, something that gives you control of your data, something that gives you control of the delivery and something in between that gives you control of all the decisions between data and delivery. There's nothing else.”

At the end of the insightful session, he left the audience with one message: “Have the purpose in mind, start from the top. Don't get daunted by the 7000 vendor Martech ecosystem, have control of your data, decisioning and delivery, and work towards delivering your mission.”