With Patrick Tripp, SVP Product Marketing at Cheetah Digital.
What is this, a crossover episode?
In this special edition of Uncaged Wisdom, we’ll be checking our vitals to see if personalization is alive and well in the world of digital marketing. To discuss this topic with us, Patrick Tripp, Cheetah Digital’s SVP of Product Marketing, and perhaps even more importantly, the host of PULSE — Cheetah Digital’s podcast for product marketers.
After learning how much of a fan Patrick is of music by The Police, we proceed to the main subject. Personalization is driven by the fact that brands can’t stand losing you. They are always looking for ways to create a more personalized message in a bottle. If this is done successfully, individuals like Roxanne will get the best offer for new red bulbs or a dimmer switch at the right time. I think we’ve stretched this far enough.
Hear all about how brand marketers can orchestrate real-time interactions across all channels and touchpoints.
02:45 - Patrick gives us a mini-recap of what personalization means in the digital marketing industry, a term that has been around for over 20 years. It is often something people have different views on and definitions.
Keeping the individual customer at the heart of your marketing efforts and providing value are fundamental thoughts driving the philosophy and strategy behind it historically. Patrick also lists off some of the core approaches brands, across different verticals, are taking today towards personalization, such as "knowing me and showing me."
70% of Brands Fail to use Personalized Emails
Personalized Emails Deliver Six Times Higher Transaction Rates!
07:04 - Collectively, we look more closely at examples of marketing personalization, examples we all experience daily. There’s a delicate dance here; brands trying to be personalized and useful without being personalized and creepy — avoid "Every Breath You Take" vibes. Also, keep content relevancy and volume top of mind.
The Bad = 1-800-Flowers, the constant volume of emails; Amazon, not evolving their offers as their customer’s shopping habits change.
The Ugly = Target, sending coupons that outed a teenage pregnancy.
The Redemption = Target, creating an ID for users to find highly relevant, beneficial, tailored offers.
13:32 - Kayla makes a great observation around why personalization fails — that the bad examples we discussed were where the brand was solely focusing on making the individual purchase something. When brands shift emphasis, focusing on making the consumer’s experience better, great things happen. Build trust and remove friction.
15:05 - Patrick reviews in greater detail what has happened over the past few decades in this space with lots of different vendors emerging with narrow, now outdated, and predominantly cookie-based, personalization engines.
At Cheetah Digital, we wanted to move beyond some of the more traditional approaches discussed above. Patrick outlines Cheetah’s approach to Next Generation Personalization — how we deliver more what brands want. Patrick gives an overview of our three-part vision here.
17:10 - Part 1: Blending a variety of approaches that have been successful in the past. It starts with Real-Time Engagement. When an individual customer is on your website or in-store, what can you recognize about them at that moment? What kinds of contextual information can be leveraged, and ultimately by using this, what type of value can you deliver to them.
18:12 - Part 2: Patrick here stresses the importance of Journey Orchestration as a critical part of the blend to make Next-Gen Personalization successful. It’s another term that can confuse, but one that’s essential marketers get their heads around. With Journey Orchestration, you are treating everyone as an individual. Each person has a unique destination and path they want to take to get there.
19:02 - Part 3: Adding a layer of Intelligence to Content and Offers, the types of messages/coupons and how they are delivered, etc. There are many different creative ways that a brand can communicate to their customer. But how can they serve up the best content and most relevant items, at the right time and in the right place?
21:21 - In classic UCW tradition, we throw down an off-the-cuff challenge to Patrick. Imagining that we were a soccer/football cleat/boot marketer, how would they utilize Cheetah Personalization to help both provide value to the customer and ultimately a sale?
23:28 - Over the past few weeks and months, Kayla and Patrick have been heavily involved in the excellent work Cheetah does with some of the best minds and organizations in the analyst world. Here they discuss some of the key learnings to come out of these conversations around Personalization. Patrick shares his take on Gartner’s quote; that “80% of marketers will swear off personalization by 2025.” He takes this more as a call to action for the industry.
“27% of brands believe that data is the key obstacle to success” in personalization. Patrick addresses why this challenge around acquiring data, getting it organized, and acting on it is so significant. At Cheetah, we are trying to solve this by creating an ever-evolving single view of the customer, underpinned by an intelligent data layer.
27:22 - It’s not about channels anymore — it’s about individual touchpoints. Patrick rounds up by sharing the critical information marketers should have in mind when thinking about personalization. Get the data foundation right, and build out from there.
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Julian is the Senior Director of Client & Vertical Content for Cheetah Digital. Prior to this Julian was the Head of Customer Success & Account Management for Experiences in AMER. Over the past 10 years, he has been focused on making strategies and software really work for brands and the digital marketers trying to implement them. Englishman in NYC, Demo DJ, and the line is a dot to him. ¯\_(ツ)_/¯