How to beat "Digital Transformation Fatigue" with smarter marketing, right now

Digital Transformation is no longer a nice-to-have, it’s a must-have. And nearly every company knows this.

Already, a staggering amount of organizations, upwards of 70%, have a Digital Transformation strategy in place or are working on one. In this pandemic, I think it has become obvious how digital is so important to reach out to your customers. Mass advertising and impersonal campaigns aren’t going to work anymore, we all need to form a direct to customer relationship that spans multiple channels.

Investing in Digital Transformation is the right way to spend time and energy. Especially right now.

But there is a catch

The current approach to digital transformation is broken. Even with key factors in place, digital transformation only has a 20+% success rate.

Even with key factors in place, digital transformation only has a 20+% success rate

That's horrible.

It's not just that the efforts around Digital Transformation failing outright that is so troubling it's that the current approach it is leading to burnout and apathy inside of organizations. Peter Bendor-Samuel, CEO of Everest Group wrote that “(Companies) believe they need to get the foundation pieces in place before they can get to the pieces that deliver business value. In the meantime, the business loses patience because it doesn’t get any tangible benefits. This leads to a loss of funding because a technology/foundation-first approach in digital transformation is very expensive; it typically consumes all the capital and leaves nothing for the other pieces required to drive the business value.”

Let's face it: the approach we've been taking doesn't work. IT Led projects for a 360 view of the customer coupled with a comprehensive data mapping project across data lakes doused with long and complicated RFPs all leads to multi-month and multi-year implementations...if they get done! That just don't cut it anymore.

A new way to Digitally Transform

You may be feeling concerned that it’s too late and wonder how you can possibly make changes to your current strategy quickly. You may have already heard about customer data platforms (CDPs) and how they’re changing the way that brands collect, analyze, and activate data.

I'm incredibly excited to introduce an new offering from our organization that is the culmination of years of learning aimed at helping us transform our businesses in a new way that is faster and focused on our customer's experience with our brands via Marketing channels.

Introducing Lytics View

Lytics View provides the fastest time to value in the market to begin using CDP technology to deliver better customer experiences and better performing campaigns. It’s simple to get started; if you can copy and paste a JavaScript tag into a web page, you can begin collecting valuable behavioral data from your website traffic, Facebook, or Google ads, and email campaign tool within 24 hours. In seven days, you will have enough data to begin making meaningful changes to your marketing campaigns because of the insights exposed by Lytics' powerful AI engine.

You’ll notice that I haven’t mentioned IT yet. That’s because you don’t need significant IT involvement to start using Lytics View. You’ll still need IT for a lot of other things in your day-to-day job, but you won’t have to go through a complex processes or months-long, resource-intensive projects to start using Lytics View right away.

The right data with the right data science

Lytics is different from other CDP vendors because we combine the right data with the right data science.

By “the right data,” we mean the behavioral data that customers and prospects generate through their interaction with your brand. It might be clicking on content with a common theme, a preference for one channel over another, product interests that they share with other customers, or patterns that could predict customer churn. Only about 10% of the data you collect is behavioral data, yet this represents over 80% of what you need to know about customers and prospects to personalize your engagement with them.

The “right data science” refers to the robust artificial intelligence and machine learning provided by Lytics. This science leads to faster discoveries and a clearer understanding of how engaged your customers really are, how effective your marketing campaigns are, which customers are likely to churn (and which customers you should try to win back), where your marketing spend will get you the biggest results, and more. Along with those insights, Lytics View also provides recommendations on the next actions you should take to help you meet your objectives so you can measure your results.

Think about it: in one week, you could be on your way to delivering the same kind of personalized experiences that brands like Amazon, Netflix, Instacart, and Spotify use to deepen their customer relationships. That’s transformative technology. That's how you start down the path to beat Digital Transformation Fatigue. And when you start to see your customers as unique individuals, they start to see your brand differently.

To learn more, register and attend our webinar on July 15 at 10AM Pacific.