B2B Growth: Your Daily B2B Marketing Podcast
B2B Growth: Your Daily B2B Marketing Podcast

Episode 2106 · 10 months ago

3 Stages of the Personalization Journey and 2 Warning Signs

ABOUT THIS EPISODE

In this episode, we talk to Anna Luo, Senior Vice President of of Customer Innovation and Marketing Director at Jivox.

Yeah. Hi everyone welcome back to be to be growth. My name is Olivia Hurley and today I am joined by Anna Lou Oh the senior vice president of customer innovation and marketing ana how are you doing today? I am well Olivia, nice to be on your show. Thank you. Oh well thank you so much for coming on. I'm really excited to be able to unpack some of your experience. Have a great conversation with you before we were recording. You were chatting to me about the world of data and personalization and you were saying that we have the technology to do a lot in the world of personalization these days. But you would you like to think of advertising and messaging as a service. Can you tell me a little bit about that? Sure. Let's look at it this way. Your job is a journalist and podcast host. Mine is marketing but we both are also consumers. So what would we or you rather see? Right as that chase you all over the internet for products that you have just viewed or purchased or say during a hot summer week, when you're thinking about having a few cool meals, You receive a 20% discount offer from your favorite cooking service brand to try a few new citrus salad meal kids. Well isn't that wonderful? So imagine this type of personalized offerings um, coming to you a consumer when you're thinking about at the specific time. So say that's in the middle of the week And season. Oh, it's summer right now and the weather sunny and beautiful and the temperature is maybe 80° or higher. It's a little hot. All of these are signals that indicate that you may like something nice and cool and you prefer healthy salad varieties. So data like this can help marketers do amazing things as a marketer or brand we need...

...to learn or to earn the consumers trust so that they see the value of sharing with us the data about them. So in this example this type of personalization can happen when the consumers allowed this cooking service to know about their food preferences behavior where they are located in real tie. What's important is that the consumers wouldn't see these personalized at offers as frivolous. Just look at this from our own experience as consumers. But rather this want one communication is a real relevant service. Mm So part of what we were talking about before and I think that's so beautiful. And also I would like to say you chose a great example to talk about food, first of all, so relevant. Second ball love citrus salad. But you were saying that we have capacity to do a lot. We have the opportunity to make very personalized marketing, speak directly to those signals from the consumer. But that doesn't mean as marketers, we get to change the rules of engagement. So I'm curious what you mean by that. And then I'm curious what are the terms of engagement these days? Yeah, that's a great question. And you're spot on. So with new technologies at our fingertips these days, we marketers and sellers sometimes forget that we are still dealing with human beings and we need to respect the rules of engagement. The other day, you and I talked about the blurring of the slide and how it could backfire. So during prospecting, uh, it's like meeting somebody for the first time. Here's an example, a chatbots salesperson who was doing his job by introducing himself to me the an email I as a prospective buyer opened the email and instead of clicking on...

...the link in the email, which then he could track me, I open an incognito thinking that I could check out his company without being tracked when I landed on his homepage a check but appeared and the message was, hello anna it's me. And he gave his name and he wrote, I'm not the ai. It's really neat now. That was creepy. So while their technology allows them to follow me to their website, I would much prefer to be left alone to do my research. Right. We could engage. But that was the wrong place at the wrong time. So this is an example of because you can doesn't mean that you should now on the flip side if I'm already a customer and nothing could be more annoying than buying a product that doesn't work. So here I am calling customer service. I expect your system to have all the information about this purchase purchase history and conversations with service agents that in tech support. Yet I get transferred to another department, another agent and yet another agent. And each time I described my problems again and again. And I imagine that you two probably have this experience and this is where a personalized experience using data and technology about my interactions with you know the brand and the people who work there would be extremely useful. So the rules of engagement doesn't change brands that understand how to use technologies to personalize their communications with each consumer based on where they are in the buying journey will win. Yeah. So to just put it in like super, super basic terms, if you don't have a relationship with a...

...prospective customer, you shouldn't act like you do. And if you do have a relationship with a customer, you should have all that information. Be using all the personalization that, that stalker over the chat bot was using to know your customer and their problems and how they're utilizing your product. Do you think that gets at it? Yeah, I think so. And when you are already a customer, so knowing that information and trying to do something to serve to give you service that wouldn't be stocking. So that's the key difference. Yeah, that's the beauty of the relationship is, is then they get to say, Hi ana, we're so glad to talk to you today. Let me pull up your file. You got it brilliant. So I'm curious. I want to get into your brain now and and kind of look at what you've seen and why you think those terms of engagement have been overlooked or bypassed? How do you think we've gotten from we have this awesome technology to now somebody is in a chat bot on an incognito browser being like, hey, it's me, you know me from the email, how do we get there? And I think sometimes we get caught up in what we do using technologies and we forget that we are dealing with human beings on the other side and especially last year in the lockdown, most of our interactions are online. We may feel disconnected with people that we see on the screen versus face to face. And I imagine this is what a lot of the sales folks, marketing folks we're going through. So what do you think marketers stand to lose by being too forward with their personalization? Well, the experience I just share. Hopefully address this question right, engage customers without understanding where they are in the buying journey and not respecting the rules of engagement. And that could backfire now. An interesting question...

...we may also ask is what do market or stand to lose by not using personalization. I know you're thinking about that. That's really the flip. So the answer is a lot. We are seeing a shift in consumers behavior. They demand relevant messages from marketers as we often wish. Don't bombard me with ads and I don't care about, right? So when you watch a video on Youtube or connect to Tv randomly, the program is interrupted by a commercial and often promoting products that you don't care about. What would you do Olivia? For example, two things I'd either wait until I was able to skip the ad or I'd use it as an opportunity to go get a snack. You know, I think a lot of the viewers will probably agree and do the same things with. Yeah, totally. It's kind of it's kind of a funny that that sometimes I were aware that we see cookies on websites and various different things were aware of personalization and we appreciate it. We also want to walk that line of not knowing companies knowing too much about us, but then we get frustrated or at least I do when I'm like, that has nothing to do with me. Haven't you been watching my, I only want ads about cooking shows and you know, whatever else close things like, like, you know, whatever. But, but anyway, that kind of cracks me up. Yeah, you're right. Yeah. And so what you just described is, um, you know, the days when marketers were following a linear path of messaging, Those days are long gone. Savvy. Marketers today use consented first party data, which is the data about each consumer that you own. Um, and they opt in right. so combining that with contextual data which you know which we talked about earlier is the time of day the season, whether pollen...

...counts sporting events. Any of these um data triggers were bringing each consumer relevant product or service offering using the right copy the right image at the right time through the right channel and the channel being facebook news site. Hoppy site connected tv wherever he or she may be at that moment. Hey everybody Logan with sweet fish here. If you're a regular listener of GDP growth, you know that I'm one of the co host of the show but you may not know that. I also head up the sales team here at Sweet fish. So for those of you in sales or sales ops I wanted to take a second to share something that's made us insanely more efficient lately. Our team has been using lead I. Q. For the past few months. And what used to take us four hours gathering contact data now takes us only one where 75% more efficient were able to move faster with outbound prospecting and organizing our campaigns is so much easier than before. I'd highly suggest you guys check out lead I. Q. As well. You can check them out at lead I. Q. Dot com. That's L. E A D. I. Q. Dot com. All right. Let's get back to the show. So we have the opportunity to build trust with our prospective customers if we use it right and the opportunity to lose trust quite quickly if we do it wrong. So what is your suggestion for getting the most out of personalization Without being disrespectful or creepy or just kind of really obvious? Yeah. I think the best way is by being transparent about how we use their data. So when consumers see the value in their relationships with the brand, they choose to opt in and let us, you know, use the most precious information about them. Their preferences behavior to let us provide the most relevant service...

...and product offers in real time. So combining their consent data and using automation, uh we can quickly scale personalization by knowing each consumer's preferences and being in the right context, wow. Yeah, absolutely. So for somebody wanting to implement what you're suggesting, want to walk that tightrope really well, What is Step 1? What's step 2? Yeah, great question. So to start thinking about how to scale personalization, we see a general progression from our customer base where marketers begin with using creative automation to create thousands of personalized ads with just one ad. And we call that a Creative Master. And so once that automation either familiar with that process, the next step is using more and more of the personalization triggers which you know, we just discussed. And so these could be the opt in consumer data about the consumers and that the brand owns. And also the contextual data and trying a few more channels is another example, such as personalized. They start they may start with display or social, you know social ads and then they'll add on videos and email and website, right? So you personalize across all of these channels. So the same relevant message could be seen by the same consumer no matter where they are. And this is what we call Omni channel personalization. And as marketers move up the learning curve And if they're selling through digital commerce which you see a lot today, especially last year with a lockdown, a lot of the retail and consumer goods companies have moved online to do set up online stores. And...

...so they would benefit from using AI to predict purchase intent. So those are three stages that we see our customers and you know, progress through this personalization journey. What's a warning sign? People might be getting it wrong. Um Okay, so I would say confusing retargeting for personalization. So the assumption is that if a customer has a consumer has looked at a pair of running shoes, so we assumed she must be interested in bounds. So when consumer leaves the athletic shoe brand site and goes to another site, like a news site or something and she sees the ad for the same shoot. Um This is how we marketing retargeting works, reminding consumers to go back and by these shoes not knowing sometimes that they have already purchased issues. So in the early days this form of simple retargeting was considered personalization and got a bad rap for being super annoying and giving all of advertising a bad name. Personalization is really about having a holistic picture about the consumer. So she looked at the product, does she buy the product? If so don't show her the same product but show her a related sets of product that is relevant to her right now. And data and machine learning can signal the purchase intent. So as marketers we should all use technologies and data to get a better picture of each consumer and use a more intelligent way of engaging the consumer. I'm curious since that was A to B to C. Example. I'm curious if there is a specific way B. Two B. Marketers can apply that. Yeah. So being A B is a little different, right? Because um you, instead of, you know,...

...buying products and you really, the signals might come more from, you know, what are some of the things that they read? What are they come to your website? What are some of the assets? You know, whether it's a webinar on demand webinar that they download or whether it's an e book or a research paper and you can also look at the content whether it's about, you know, some aspects of personalization or whether it's more about identity or it maybe it's more about how to personalize e commerce marketing. So from those, those other signals that we get and you could do use a similar process to figure out, you know, what is the right content, what is the right conversation to have with specific marketers? Brilliant. It really is fun to have this conversation and to step back and be like the things we can do that is really fascinating and really cool. So, if you were to boil all of this down and there was only one thing that somebody could take away from this episode, what would it be? Well, I would say, look at how we consume information and how we've shifted, right? So in the past, um, the direction of the communications really from the company, the marketers going through this linear process and just broadcast it out. But today, a lot of the buyers, B to C&B, two b. Um, what do we do we first research, Right. And much like the process that I went through. Um, I want to first find out what this chatbots services and you know, how I might incorporate that into my marketing strategy. And so all that research is done. And, um, by the time the mark, the salesperson understands it gets the call, the potential buyer already knows a lot about your product, possibly. And so it's important for marketers to actually provide a lot of information, looking at different...

...stages of the purchase a journey. And I would say be able to use all that information and start the personalization journey today because people look for information differently. They do a lot of the research. It's important to understand what the journey looks like and how to personalize that journey with the data that you have. Oh man, well you have taken me on a personalization journey in this conversation and I really appreciate all that you've shared and I've learned so much. And also I'm going to definitely continue to go get snacks when ads are incorrectly targeted towards me. Hi, everyone else to do the same on a how can listeners connect with you? Yeah. So the easiest way to connect with me is through this email address Java X D C O J I V O X D C O at dropbox dot com. And you can also come to our website, java's dot com and uh learn more about personalization. We also have a lot of experts who can you know, have a one on one conversation with you to look at what your specific needs are. And so there are many ways to contact us. So definitely please, you know, reach out and by the way, if you're interested in getting a copy of the uh cost savings, how to use automation, uh for cost savings and how to uh you know, realize our oh I I'm happy to send a compliment mentally copy to you. So again, you know, kovacs PCO at dropbox dot com and let you know well on a once again prevent you are incredibly generous, not only as a guest but also as a market or two. So I'm so glad we were able to have this conversation. Thank you again for joining me on VTV growth. Hey, thank you Olivia. That was so much...

...fun. Are you on linkedin? That's a stupid question. Of course you're on linkedin here. Sweet fish. We've gone all in on the platform. Multiple people from our team are creating content there. Sometimes it's a funny gift for me. Other times it's a micro video or a slide deck and sometimes it's just a regular old status update that shares their unique point of view on B two B marketing leadership or their job function. We're posting this content through their personal profile, not our company page. And it would warm my heart and soul if you connected with each of our evangelists, we'll be adding more down the road. But for now you should connect with Bill Read, our ceo Kelcy Montgomery, our creative director dan Sanchez, our director of audience growth Logan Lyles, our director of partnerships and me, James Carberry. We're having a whole lot of fun on linked in pretty much every single day and we'd love for you to be a part of it.

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