October 10, 2018
The State (and Future) of Digital Marketplaces
Recently, my colleague, Andrew Eichenbaum, Head of Data Science at Kahuna, and I had the pleasure of sitting down with Michael Krigsman of CXO Talk. Michael conducts interviews on topics that are profoundly changing the technology and business landscape.
We spent the hour discussing artificial intelligence and machine learning and how they’re transforming consumer engagement and B2C marketing automation. Thanks to recent advancements in machine learning, and the ability to process consumer behavior and activity in real time, we can now offer more & more relevant information and products and therefore scale personalization to millions and millions of individuals within seconds, treating them how they want to be treated—as an audience of one. Whether it’s Amazon making super relevant recommendations or Uber being able to predict demand and supply at just at the right time, modern marketers are re-casting customer engagement and commerce entirely. This is how leading internet brands operate—and this is at the heart of what Kahuna’s cross-channel marketing automation platform does for some of the most modern and successful digital brands, such as Hotel Tonight, GoPro, Yelp, Dollar Shave Club, and more.
Contrast this with traditional B2C marketing automation technology that was built to do impersonal batch & blast email delivery with little context of the right time, the right place, and the right message. After a decade of investment in expensive and labor intensive technology, e-commerce still only sees a paltry 2-3% conversion, and per Google’s own research, goods worth a staggering $280 billion are still abandoned in shopping carts every year.
As retail and commerce sales numbers from the holiday season begin to trickle in, enterprising CMOs and marketers are now re-thinking how they engage and convert across channels using smarter marketing automation technology, designed for an extremely savvy digital consumer who wants that one-to-one personalized experience with your brand. This discussion with Michael couldn’t be more timely.
Learn more about how artificial intelligence is impacting the consumer marketing space by listening to our discussion here:
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