Ben speaks with William Ferrell, Senior Manager at Ekimetrics, a leader in data science and AI-powered solutions. They discuss why brands are losing millions by not getting to know their audience and serving up ads that aren’t relevant, the three things a brand needs for personalization at scale, and why brands should turn to data and connected tech stacks to improve their efforts. They also talk about Colgate's successful Facebook Messenger campaign, the different challenges to customer retention between low engagement and luxury brands, and why the future of marketing will be data-driven.
Topics discussed:
- The current state of consumer marketing, and why companies are wasting millions of dollars serving up ads that aren't relevant to their customers because they're not getting to know them deeply — despite having the tools to do so.
- The challenges to customer retention and loyalty, especially with a low engagement product like toothpaste, and why they made the shift to focusing on building relationships through value exchange.
- How Colgate launched a “whitening at home” campaign through Facebook Messenger, which engaged customers through chat and gamified their experiences, resulting in 70-80% engagement rates.
- The different approaches to customer engagement between toothpaste and luxury brands, and how despite the in-person focus with luxury, there's opportunity to use data to drive a better experience.
- The three pillars of personalization — audience, technology, creative — and why you need these three things to be able to scale.
- Three pieces of advice for marketers, including why you should walk in your customers' shoes, why you should focus on getting the audience right first, and why you need to create utility to stand out.
- How the future of marketing will continue the digital transformations that happened during COVID, and why data-driven will become business as usual.