The annual Trend Report from MyResearch investigates the anticipated marketing spend and priorities for advertisers and CMOs in Denmark. One of the findings is that Danish advertisers are investing millions in martech, which is a positive trend. However, it must be followed by a profound understanding of data and the story it conveys about the consumers. In this article, Agillic’s Chief Experience Officer Rasmus Houlind comments on some of the findings.
Challenged by digitalisation
The number one perceived marketing challenge in 2018 is digitalisation as indicated by 38% respondents in the Trend Report. 12% report that understanding the market/ insights/ target group is also a challenge.
According to Rasmus Houlind these are all intertwined and cannot be considered in isolation:
“We are in the midst of a transformation of the marketing landscape driven by digitalisation and by consumers’ expectations to the interaction with brands. So, in a sense it is a good thing that ‘digitalisation’ is perceived as a challenge; it means that we have to try harder and exert ourselves regarding meeting and exceeding customer expectations. The foundation for that is to have data provide deep insight into the lives and the preferences of the people we communicate with, our target groups – and of course integrate the data input as a natural part of the creative process.
We have to reach a point, where digitalisation is not so much a challenge as simply a fact and a condition by which we work: digitalisation is an ongoing innovation process – it will keep rewriting how we work and how we approach the consumers. For that reason, I think it is essential that the Danish marketers catch up with the technological possibilities such as AI and machine learning, as these to a very high degree will define tomorrow’s marketing and lead to new levels and approaches.”
Paid media-spend is off balance
Half of the marketing spend in Denmark is allocated to paid media, and while martech is increasing is only gets a share of 8%. In comparison, the distribution of the marketing budget in the US is 25% going to paid media and 22% going to martech. So, from an international perspective, Denmark is falling behind when it comes to taking advantage of the many technological opportunities including artificial intelligence and automated marketing. Furthermore, digitalisation is international and borderless and changes the competitive arena from a local one to a global one.
“I am not saying that all money spent on paid media is a waste, but 50% of the marketing budget going this way is off balance. Why spend money on buying the attention of your customers, when you can own the relation by obtaining permission and take charge of the conversation in owned media?”
According to Rasmus investments in martech solutions to build data-driven customer relations is a more long-term and future-oriented approach enabling companies to engage their customers in a personalised and meaningful conversation building the relationship over time.
“For the same reason, I would have liked to see a stronger focus on data and data handling than seems to be the case. Data and the ability to act on data is the key to personalised and relevant communication, which fosters loyalty and all the profits that come with that quality. All companies should invest in technology to understand data and to create relevant communication with your customers.”
Agillic is on the rise and without a doubt, the public listing earlier this year has contributed to the increased awareness. But it should also be seen in relation to what Agillic brings to the market: Agillic’s AI-powered omnichannel marketing automation solution is positioned right in the martech sweet spot and accommodates the much sought-for need for enabling personalised communication at scale.
“With our AI-driven customer journeys, we can support our clients’ business targets and help them set themselves apart when building relationships with their customers. Some of our closest competitors are huge, international companies such as Salesforce, Hubspot and Adobe, and in the Danish market, we beat them when it comes to awareness. We have a great solution, we know we make a difference for our customers, and the Trend Report shows that the market thinks so too,” says Rasmus Houlind.
Agillic is on the rise
- Agillic has the highest top of mind as well as the highest unassisted awareness
- Agillic has doubled its assisted awareness since 2017 (from 24% to 47,2%)