Live @ IBM Smarter Commerce Global Summit Madrid: IBM’s Yuchun Lee Doubles Down On Social Marketing
Remember that team of blackjack-playing cohorts from MIT in the book (and, later, movie) “Bringing Down The House,” who fleeced a number of Vegas casinos before they were invited never to grace their gambling doors again?
Well, IBM executive and Unica co-founder Yuchung Lee was one of those who was asked not to come back. Permanently.
Which is okay by those of us at IBM, as we’re keeping him way too busy to bother with card counting.
Instead, Lee’s mathematical prowess is being applied to help companies improve their marketing capabilities, a key ingredient in the IBM Smarter Commerce soup.
Doubling Down On Enterprise Marketing Management
As Lee explained in his keynote session this afternoon here in Madrid, “this is the first time we’re bringing together Coremetrics and Unica.” He also highlighted the fact that out of the 1,700 participants here at the Summit, over 1,000 are marketeers!
Lee provided a broad overview of the Enterprise Marketing Management portfolio at IBM, explaining that “we’ve shared progress as a group within IBM over the past year,” sharing that also incorporates lessons learned from both the market and IBM customers.
“The pieces of our portfolio are better connected,” Lee explained, but also highlighted the fact that “We now have a more comprehensive suite for relevant and personalized offers across all channels, and social media,” a capability recently introduced in Unica 8.6
The social buildout also incorporates enterprise analytics, tag management, and full mobile and social market capabilities that tie more closely together the marketing automation experience with the social realm.
Acquisitions That Count
Lee also debriefed quickly on two recent acquisitions, DemandTec, which expands IBM’s EMM offerings with pricing, promotion, and product mix optimization, and Tealeaf, which rounds out IBM EMM solutions with customer experience management and analytics.
As Lee explained, “A picture’s worth a thousand words,” and that’s precisely what TeaLeaf provides, the ability to look at snapshots of individual user sessions to help determine where, exactly, it is that you’re driving them crazy with your convoluted web experience!
But where Lee really “hooked” the audience was in his observations about the Generation C customer, who is more connected and in control than ever! Did you know that 4 in 10 smartphone users search for an item in a store? Or that 77 percent of B2B buyers check with their peers before buying?
If you didn’t know that, then this is your reality check and maybe it’s time you get more focused in your own customer centricity. Marketing, Lee suggested, must “move beyond its silo and focus on business value.”
Which, he expanded, means that it must work more closely with other disciplines and functions, including merchandising, on- and offline sales, customer service, and even with IT.
Marketing must move that customer centricity beyond marketing as well, so that they understand and influence the entire customer experience, as well as “own the operational process to influence social conversations.”
But, Lee indicated, they can’t stop there. Marketing must also share customer insights with other parts of the business so that all functions can benefit from these insights.
Finally, they must extend that sharing of customer insights with other key stakeholders who can benefit: Partners, agencies, customer communities, and so forth.
Lee also explained that many organizations must adjust their marketing cultures to fully capitalize on the “Generation C” (“C” for “connected”) culture. They must build organizations that balance analytics and creative talents (easier said than done!), work with IT rather than around IT, and break down marketing siloes — digital and traditional marketing must consolidate and collaborate.
Finally, accept mistakes and learn from them, and be agile enough to iterate and improve upon them. As even Lee can explain, there are only so many opportunities to double down in blackjack, and in business.
The enterprise marketing management opportunity vis-a-vis IBM’s Smarter Commerce strategy is one of those rare opportunities.