Adobe Summit EMEA 2016: Experience Business and Conversion Rate
“Are you an Experience Business ?” is probably the most important question that can be asked nowadays. When I look at my relationship with a number of brands and businesses of all size, I must admit that Customer Experience has become the most important factor for judging whether I stay or look for an alternative. Because of this “Customer Experience” factor and the ease of switching providers, I have changed my smartphone brand for the first time in 5 years and switched my bank for the first time in 7 years. I am convinced that it is just the beginning.
Working with Marketing Leaders over the last couple of years I see how their focus has shifted from building and promoting a brand to creating an engaging experience for customer and prospects at scale. Their job is complicated as they have to make hard choices about resource allotment and juggle with too many priorities and responsibilities.
What has not changed and has become even more important is conversion rates. They are still either top of the list of near top of the list when it comes to priorities. Based on a number of recent engagements with customers and partners, it appears that the results from the 2014 Digital Marketing Optimisation Study remain highly relevant.
Regardless of industry or scale, 75% of all marketers believe that personalisation is important to their organization’s long-term goals. But most have a long way to go to arrive at efficient, effective personalization for their customers and prospects.
While you might wonder if personalisation is worth the effort and the investment, our survey shows that customers who focus on personalisation and optimisation have conversion rates higher than 4.5%. Compared to an average conversion rate of 2.6% it easily shows how focussing on Personalisation and Optimisation can translate in millions of Euro of additional revenue.
During Summit EMEA 2016, we will have a track dedicated to Personalisation and Optimisation. This year’s agenda has a great combination of Processes, People and Product focussed session. Since these three pillars are key in having a great Personalisation programme, I have handpicked three sessions that I have placed in each dimension.
Product: Making the most of cross-solution capabilities with the new People core service — TL6
If you like to experience the solution, I would advise to join the hands-on lab Mark Wallman and I will run on the People core service. The People core service helps you build a comprehensive view of individual customers by connecting Adobe and non-Adobe data in your Marketing Cloud solutions. You will then be able to understand what matters most to them as they interact across touch points and use this information to build segments that can drive your personalisation efforts across all solutions within the Adobe Marketing Cloud. During this 45 minutes session, we’ll build segments in Adobe Analytics, enrich them using CRM data and leverage these audiences in Adobe Target.
People: Unleash your inner data scientist with Adobe Target — PO6
In this session, Ashish Umre (Optimisation Manager at Tesco) and Pradeep Javangula (Head of Engineering for Adobe Target) will be discussing how you want unleash your inner data scientist. They will discuss what data science offers for personalisation and optimisation, present best practices from industry leaders for using data science in digital marketing analytics and optimisation. And finally show you how to put data science to work right now
Process: Clearing hurdles for optimisation success — PO8
Whether you’re brand new to testing or you’ve been optimising for years, this session will highlight common challenges that organisations face as their testing program expands and matures. Blair Keen (Business Consulting Manager at Adobe) will showcase how leading companies have cleared some of these “hurdles” to deliver tangible results in conversion and revenue.
One last thing…
A great preparation for Summit is to use the Adobe Personalisation Maturity self-assessment tool to identify your organisation’s strength and focus areas in Personalisation. This online questionnaire looks at six Optimisation dimensions: Culture, Strategy, Organisation, Leadership, Execution and Reach. Taking the assessment only take 20 minutes and help you have a good understanding on how your organisation scores and how it relates to other companies in your industry.
Feel free to share the results of the assessment with your Adobe representative or myself. We’ll be more than happy to discuss the results with you.
Looking forward to meet you during Summit EMEA 2016.