Here’s how Ogilvy is setting brands on the right path to transformation
Rune Solvsteenon 18 July, 2019
It is no longer questioned that digital technology and readiness are necessary to power your communication with consumers. But there are multiple steps on that journey, and each brand is at a different level of maturity in this new era.
Digitally mature brands are the ones that are able to engage with customers via relevant, personalised content instantly, using real-time data, across platforms. When a brand reaches Marketing Maturity, they can achieve a 20 percent increase in revenue, and decrease their business costs by as much as 30 percent — the case for transformation could not be more enticing.
However, the further you progress towards this maturity, the greater the complexity you will face, both in terms of quantity of data collection, and number of consumer touch-points. All brands will fall into one of five key stages of Marketing Maturity:
1. Laggards: These brands have no real e-commerce offering, they communicate in batches, with generic mass marketing offers and no connection between their marketing tools. Consumers don’t have a relationship with these brands.
2. Nascent: Nascent brands are more sophisticated. They are starting to use first party data, and launching brand e-commerce. They have basic customer knowledge and segmentation, and some targeting ability, but still haven’t connected it all together; they remain unable to recognise consumers across different platforms.
3. Emerging: This is where we begin to see the beginnings of sophistication in a brand’s capabilities. An emerging brand is capable of multi-channel commerce and behavioural targeting, with a greater degree of integration across marketing tools.
4. Connected: More and more pieces of the puzzle are being put together here; a connected brand might have event and POS data, with segment targeting that is granular, and fully integrated marketing technology tools.
5. Multi-moment: At this stage, brands have achieved continuous commerce, with personalisation at scale and integration of all the different touch-points and platform tools. A Multi-moment brand is able to provide fully personalised engagement to their consumer at each moment in the day.
However, maturing along these five stages will not happen overnight; it is a rigorous, long-term process. In order to reach the apex of Marketing Maturity, brands need to master nine marketing and data disciplines: Process, People, Technology, Data & Analytics, Loyalty, Engagement, Channels, Offers & Targeting, Customer Experience.
However, stakeholder engagement is crucial to digital transformation: a business cannot progress on this journey without buy-in at every level. Stakeholders need to understand not only what the objectives and incentives of transformation are, but also what the existing capability is, and be able to track a clear path from where the business currently stands. After all; if you don’t know where you’re starting from, you can’t navigate to the end.
Fortunately, Ogilvy has developed an assessment tool which scores a brand’s Marketing Maturity using a series of 45 questions across these nine key data and technology pillars. The Marketing Maturity Quick Scan delivers three core outcomes to brands, CMOs and CIOs:
1. Understand how mature the company is on each of these nine disciplines.
2. Establish concrete, actionable insights on each pillar and each maturity stage.
3. Uncover clear next steps, prioritised according to their value impact.
The survey asks the kind of questions that brands might not be used to hearing from agencies, as they delve beyond the technological and into who you are. The Quick Scan enables a new kind of brand/agency interaction, one which will empower brands by clarifying their growth agenda and enriching their understanding of what changes and investments need to be made on the path to transformation.
Brands which have benchmarked their business against the Marketing Maturity Quick Scan, including Adobe, KFC, Samsung, and BMW, have all seen immense value in terms of better defining their future goals.
The Quick Scan may also prompt stakeholders to look at their business from a new angle. What exactly does digital maturity look like to you? How do you envision your transformed state? And most importantly – how Ogilvy can help you achieve these goals.