February 7, 2017
Industry Leader Sees Market Maturity in Next Wave of Data Insights and Consumer Response Engaged at Multiple Social+Mobile Touch Points
San Francisco, CA. (Dec. 18, 2013)
Phizzle, Inc., the fan-centric marketing automation technology company, today announced the company’s predictions for 2014. Major brands, be it in sports or retail, are beginning to show more mature digital mindsets. The past few years of experimentation have led towards major advancements and effective changes in brand-to-consumer mobile communications. With apparent seamless integrations between mobile and social channels, as well as centralized marketing databases becoming easier to implement, 2014 may well be the year that more sophisticated digital marketers will be using actionable data to create highly personalized experiences, turning fans into valuable customers.
Over the past twelve months, Phizzle witnessed its clients begin the process of building digital relationships with their customers through multiple mobile platforms. There was an emphasis on delivering digital marketing solutions that drove a connected, unique customer experience. As 2014 approaches, Phizzle believes that the digital relationship will significantly mature. Brands will listen to the ways customers are interacting through innovative technology tools, and— whether it’s on a website, in a mobile app, via email, SMS, Twitter or Instagram – they will use these insights into behaviors to fuel real-time communications and content unique to each individual.
Recently, Gartner released a US-based study titled “The CMO is Becoming the CIO” where it was stated that by 2017, the Chief Marketing Officer would spend more dollars on technology than the Chief Information Officer. Regardless of whether that claim will be fully realized, the reality is fast approaching where marketing departments in 2014 will continue a trend of investing in significant technology out of their own budgets. Likewise, more and more real time communications will be executed both by marketing and sales divisions via digital campaigns, while analytics, business intelligence and CRM software will be delivered on one platform. Everything from marketing automation software, CRM systems, social media management tools and data-fueled analytics, are helping to make digital marketing efforts more effective and efficient.
Three key trends for 2014 identified by Phizzle are:
The world of sports has always been immersed in a world of numbers and analytics. Statistical figures have been used by fans and teams alike in defining the performance and value of players in the hopes to maximize production of the product on the field of play as well as in the investment being made.
As the world of multi-channel fan engagement continues to be pushed to the forefront of both marketing and business operations for sports properties in 2014, these organizations will continue to focus on the data and analytics that are coming in. Yet, there is a new performance measurement: the value of a fan.
From a fan’s investment of time on websites and social media channels to their financial commitment on merchandise, tickets and concessions, the copious amount of information fans are providing to teams on a daily basis will no longer be used to simply find out where fans are engaging with a team, but how valuable those interactions are in delivering a winning business strategy. The same diligent and meticulous detail teams devote to the statistics of players will extend to the front office in helping develop and execute the plays off the court that will deliver success. Teams will begin to become fans of their own fans; understanding and tracking the performance of their most valuable players as it relates to the business operations of the team.
Big Data is becoming Big Insights.
In 2014, brands will begin to move towards looking for technology to assist in compiling the droves of data being delivered about a fan’s every movement. Big Data has created a need for brands to organize and analyze insights in the most efficient way possible for timely responses and performance decisions.
In 2014, brands will be looking for ‘all-in-one’ platforms that can augment data from multiple technology providers, not just sitting in a data warehouse in aggregated, siloed form. Open API architecture will define partnerships. In order to effectively understand the customers and fans of a brand, all of the social, mobile and local engagement channels will be taken into consideration and brands will seek solutions capable of merging data sources to create a unified profile of a customer’s behaviors, purchasing decisions and influence.
The New Currency in Monetizing a Fan
In 2014, the best digital marketers will be taking advantage of revenue-generating opportunities as they relate to the fan or the consumer. Fan monetization will be the basis of ROI.
Until now, the value of a fan has been simple: how much money did they spend on a brand and its’ product(s). In 2014, the use of multiple engagement channels and digital marketing mediums will provide a new currency impacting the value of a fan: their influence on others. Brands will begin to embrace the idea that the value of a fan is calculated not just by the money invested in products, but by their ability to encourage more fans to become customers.
The most valuable fan for a brand may not actually be a customer. A fan may be supportive of philanthropically issues, social practices, customer service and other non-sales related efforts and, though they do not buy a single product, social media provides them with the ability to become advocates of the brand, driving sales just as a television advertisement or email offer may achieve. While a company may always evaluate success and performance by the bottom line of a balance sheet, the value of a fan and the fan’s fans, will determine the new standard of ROI.