Agile marketing requires flexible data measurement
“You have to be mobile in today’s, world,” said Matthew Murray, COO, and CMO of the women’s brand Love Wellness. This certainly didn’t come as a shock to attendees at MarTech’s virtual conference in March. As we have carefully discussed, agile marketing teams understand the future of a growing business better and work better with a customer focus.
Data analytics and flexible measurement strategies are also important to Murray to keep agile marketers prepared for anything.
Murray has up to 235 sources of sales and marketing data. Focused on the customer experience, he spreads new customers and loyalty and distributes them even more across the channel. “What we’re doing is harmonizing this data so it’s relevant to specific KPIs,” he said. For example, one source might say the PPC is $ 0.50, while the other might say it’s nearly a dollar.
But also, Murray and his team have to collect everything at the source and measure what the most important criteria are at the end of the day.
Love Wellness has grown a hundredfold since Murray joined the team in 2018. The company, founded in 2016 by former TV star Lauren “Lo” Bosworth, is just getting started. First, it was a D2C eCommerce item sold in your digital store. Then they add Amazon as a channel. In 2019 it will expand to retail and launch in Ulta Beauty stores. The latest leap was late last year for Target.
Maintain agility during rapid growth
Love Wellness has grown 100 times since Murray joined the team in 2018. The company, founded in 2016 by former TV star Lauren “Lo” Bosworth, is just getting started. First, it was a D2C eCommerce item sold in your digital store. Then they add Amazon as a channel. In 2019, they expanded to retail and their inventory to Ulta Beauty stores. The latest leap was late last year for Target.
According to Murray, his agile marketing team has grown with the company, now with a dozen employees. He maintains links with other parts of the organization and acts as CMO and COO.
“There is a lot of collaboration, where I drive sales, work with finance and focus on making the business efficient,” she said.
He added: “We’ve become an omnichannel brand. And I think it’s an important part of its evolution. If that happens to you [rapid growth], you have to be very smart not to overtake your existing customer base and your customers. “
Martech and adtech M&A on the rise
Earlier this year, we reported on how marketing teams adapt to a merger or acquisition. The flight to digital transformation accelerated mergers and acquisitions in the martech and adtech segments last year, according to independent investment bank Capstone Headwaters.
The marketing services industry recorded an overall decrease of 30% from the previous year in 2020 for 312 companies, compared to 449 in 2019. The number of transactions is already increasing. According to Capstone Headwaters, “the renaissance is being driven by buyers looking for suppliers with digital assets.”
The martech and adtech segments increased by 31% and 12% respectively in the fourth quarter of 2020 compared to the third quarter. More Martech and Adtech companies are expected to undergo IPOs and mergers with specialist buying companies (also known as SPACs).
Why do we care? Marketers know that selling is more than just a price. But the importance of the financial sector can be a measure of the importance the world places on digital marketing innovations. “Data is oil”, as they say. And in this connected world, with increased regulation and privacy protection, data companies are working with adtech and martech solutions to maximize their resources. As a B2B B2B customer, marketers should also keep in mind the impact of M&A activities on customer service. It is a disadvantage to be part of such an important industry in the business world of today. Value attracts attention, speculation, and more enthusiasm.
Marketing Services – Industry Update, March 2021
The rise of e-commerce, social media, and digital news has changed the marketing and advertising of digital channels and accelerated the segments Marketing Technology (MarTech) and Advertising Technology (AdTech). The emergence of MarTech and AdTech in the market has created competitive advantages over traditional marketing service providers by offering accurate marketing solutions and real-time analytical tracking for active campaigns. The industry has cultivated a strong desire to position MarTech and AdTech as extremely attractive targets for mergers and acquisitions (M&A) between strategic buyers and private equity buyers.
The highlights of the report include:
With the rise of public markets around the digitalization of the industry, initial public offerings (IPOs) of technology-based providers are expected to increase as a way to raise additional capital to accelerate technological progress.
• Due to the large variety of digital media, buyers have specifically turned to software vendors MarTech and AdTech for a variety of formats, leading to the resumption of mergers and acquisitions in 2021.
• Consumers’ privacy rights have improved as the industry expands, forcing marketing analytics to use third-party identity solutions instead of third-party cookies.
Martech v. Marketing technology
Frans Riemersma, founder of Martech Tribe, yesterday stopped publishing his series of European landscapes Martech on LinkedIn to make a good contribution to the debate “when Martech is not Martech”. Distinguish between martech and marketing technology.
‘Martech are tools in which the main group of users is the managers of (digital) marketing: Adtech, Content, and Social. Marketing technologies are solutions that serve different user groups, such as managers with experience in sales, projects, human resources, finance, or marketing. Think data, management, e-commerce “.
Martech’s Riemersma vision is in line with Anita Brearton’s CabinetM definition: “Any technology used to create or support experiences and avenues that drive customer acquisition, engagement and retention.” It also reflects the opinion of Steve Petersen that only part of a Martech stack means only a Martech solution.