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Name:
Next Generation Marketing, Product, and Data Strategies (Colleen Scollans)
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Next Generation Marketing, Product, and Data Strategies (Colleen Scollans)
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https://cadmoreoriginalmedia.blob.core.windows.net/cee43bee-2f93-4e70-96b3-f86bf9906864/4 - Marketing Technology.mp4?sv=2019-02-02&sr=c&sig=dtRbBSZE57YQJ4vHZp1E11oiyT2aYABnhIyJd8YKrl4%3D&st=2024-11-21T09%3A09%3A55Z&se=2024-11-21T11%3A14%3A55Z&sp=r
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Language: EN.
Segment:0 .
COLLEEN SCOLLANS: Hello, everyone. I'm happy to be here and give you a very quick drive-through marketing technology. So let's start with what marketing technology is. It's tools and technology that help marketing performance, and they broadly do six things. They help marketers target, reach, and engage with audiences and prospects and customers. They help optimize campaigns and digital experience. They improve customer experience and focus.
COLLEEN SCOLLANS: They automate and streamline tasks. They're at the nucleus of a marketing operation as well. They help be the hub for planning and strategy. And then we've talked a lot about this today, but they also help us capture data for analytical purposes. And I think marketing technology is especially important for scholarly publishing for what it enables. So firstly, we are all transitioning to OA and an increased focus on authors.
COLLEEN SCOLLANS: It captures data and really helps with the analytics we're all striving. Our users have high user experience as they're looking at consumer websites they go to everyday, and marketing tech helps with that. Many organizations have cost pressures, and marketing technology can make your marketing team more efficient and save cost. And a lot of us are historically internally focused and siloed, and we've built our products and our marketing infrastructure based on our internal organization.
COLLEEN SCOLLANS: And we're striving to be more customer-focused. But marketing technology isn't just about marketing. It really impacts an entire organization. And you can see some of them here. But just a few examples, product teams care very much about user experience. Sales teams care a lot and ask a lot for leads. Finance directors want to hear about marketing return on investment.
COLLEEN SCOLLANS: And publishers want data on their authors and author experience. So the marketing tech field really started in 2012 with about 150 tools. We're at over 7,000 tools. They say that marketing as a profession has changed more in the last three years than it changed in the 50 years prior. And I think a lot of that is because of this proliferation of technology.
COLLEEN SCOLLANS: And the tools come in different shapes and sizes. We have small edge tools. We have medium sized best in breed tools. And we have the large enterprise solutions, the SalesForces, the Adobes. But you can also build more tech capabilities into your products and platforms. And the tools are connected in what's called a marketing technology stack.
COLLEEN SCOLLANS: And the secret to a good marketing technology stack is it isn't just your tools pulled together. But they're built in a really organized and smart fashion around common data structures and slick integrations, particularly around analytics and customer data. And organizations have really clever ways in which they try to plan and organize their marketing technology.
COLLEEN SCOLLANS: It's a slightly scary graph from Gartner. I have my own model that looks at the capabilities of an organization and breaks them down. It's a really complicated space, and organizing it in visual ways is incredibly helpful. So let's look at some foundational marketing technology capabilities. So the first one is 360 degree view of a customer. And when talk about customer here, we mean an individual or an institution that's personally identifiable.
COLLEEN SCOLLANS: You know this individual or institution. But it doesn't have to be a customer in the traditional sense. It's really any one you have a relationship with-- an author, a member, even somebody maybe who's been on a market research panel. And we're trying to capture everything we can about that user from all the various systems and interactions we have.
COLLEEN SCOLLANS: We're looking at their transaction history, what have they purchased with us. We're looking at what they've told us in opt in, in our marketing opt ins, the forms they filled out, our demographic information. We're trying to pull in every other relationship they have with us. And, increasingly, we're also trying to capture their interaction data.
COLLEEN SCOLLANS: How do they engage with our marketing? What emails do they open? What ads do they click on? How do they engage with our websites, our product, our content? What do they view? What do they search? And that helps us get a really behavioral view of customers. And you can also pull in lots of great second party data.
COLLEEN SCOLLANS: ORCiD is a fantastic example in our industry that can come into your customer records and augment them. But sometimes you don't have a personally identified known person. We all have visitors that come to our sites and we have no idea who they are. And marketing technology solves that by creating anonymous visitor profiles, by pulling in device information, device IDs and cookies.
COLLEEN SCOLLANS: And it creates these user profiles, and then it aggregates them together around common interests. And much like in the customer data, we're looking at their interactions. How they engage with marketing, how they engage with our products and content. And we can pull all of that information into anonymous audience segments that we can then use for future marketing.
COLLEEN SCOLLANS: And in this space, there's also external data. You can buy in third party audience segments as well for advertising purposes. Now, if we really want to understand how our customers and users are engaging with our content, we need to have our content classified and structured, which is why semantic and content enrichment tools actually sit in the marketing tech landscape, because marketers care very, very much about them.
COLLEEN SCOLLANS: And the more precise we can structure our content, the more granular we can get, the better our segmentation and targeting can be. And we just don't want to know the structure of the content and how it connects back to topics and content. We also want to know how our content performs. And so marketing technology is trying to pull in anything they can about our products and content, all the data available.
COLLEEN SCOLLANS: So you know, some very simple ones, pulling in the usage data you can from Google Analytics, pulling in your citation data, pulling in your attention data. So you have that really robust view of your content. And when you have all of this data, you broadly can do three things. You have improved analytical capability. You can talk a do marketing orchestration, which I will explain.
COLLEEN SCOLLANS: And you can improve your activation and engagement channels. And that's just fancy way in marketing speak of talking about ways you reach customers. So activation channels are things like web and email and advertising and chat box, and engagement channels or things like influencer, marketing, and advocacy and social media. And so it's a super, super simple example.
COLLEEN SCOLLANS: But when you have that information, you can look at a content topic and you can pull out your top articles, perhaps by citation. And that might inspire new product ideas. And then you can connect that content to the authors that wrote those articles that might inspire you to do an author thank you campaign. And then you can connect that with the institutions where the authors work to see if the affiliating institutions have or have not purchased the content, which can then inspire some sales opportunities.
COLLEEN SCOLLANS: And this is a very simple idea. The analytics can be as sophisticated as the data you have, and many marketing technology solutions have a really clever predictive analytic tools built into them. But I agree with what the panelists said before. The data needs to be interpreted. Marketing orchestration. What that is a decision engine that sits between your customer data and your engagement and activation channels.
COLLEEN SCOLLANS: Very commonly used in B2B marketing and in membership organizations. And what you're trying to do is take a prospect from awareness all the way to a customer. And what marketing orchestration does is it recognizes the customer and sends the right marketing to the right customer in the right channel at the right stage in the journey. So if I'm a prospect, and I know very little about the product you're trying to sell me, I might have a very simple advertising.
COLLEEN SCOLLANS: As I moored up, the marketing orchestration engine realizes I'm now at the consideration stage and, you know, a webinar invitation. And then, at the point in which I purchase the product it knows that I'm a customer and can send me some onboarding materials. And marketing orchestration pulls that all together in a really clever way. So there are hundreds of activation and engagement capabilities.
COLLEEN SCOLLANS: And I have 15 minutes or so. So I'm just going to focus on a couple that I thought were germane to scholarly publishing and ones I know in my days we've talked about. So first is advertising. Ad tech is a subset of marketing technology. And ad technology does two things. It helps marketers buy and place ads, but it also helps publishers sell ads.
COLLEEN SCOLLANS: So it's the technology behind a lot of the ads on our journal platforms. And the big fish is Google, as you all know, and they've recently gone through a major rebrand we're all over analytical and marketing tools and ad tools are pulled together, and the Google DSP ad server is now called Google Ad Manager. And if we have really robust customer data and anonymous user segments, we can do some really interesting things with advertising targets.
COLLEEN SCOLLANS: And I'm not going to go through all the examples here, but you can imagine all of the permutations you can use. Could also take that data and upload it onto social media networks, and do match audience and look alikes. So if you have a list of customers or prospects that you want to find on Facebook, you can send Facebook that data and target them. And the social networks will also look at your data and find common attributes in their user base and you can look at look alike audiences.
COLLEEN SCOLLANS: Really big in media and publishing right now is keyword contextual advertising. So as opposed to the user or customer data being the decision engine, the words in the content that is next to the ad or surrounding the ad is the decision engine that tells us what kind of ads to show users. And I think this has some really interesting potential in our space.
COLLEEN SCOLLANS: Retargeting. Although some people are very scared of it, and find it very big brother-- I call it the shoes that haunt me on the internet all the time. But retargeting is when you visit a site, you go to another site, and that which you visited is now advertised to you. But it actually has incredibly high response rates, and is a pretty low cost marketing technology to implement.
COLLEEN SCOLLANS: Email, while waning in popularity, because there are so many better ways to market, is actually still being used. And email service providers are really doing a lot of really cool things. So of course you can target email. But a couple developments that I think are interesting, some of the more sophisticated ESPs are doing automatic templates based on your segmentation.
COLLEEN SCOLLANS: And they're also connecting with companies content management systems to pull in content based on the segmentation. So they're completely automating email tasks based on your customer data segments you've defined. Even the most simple email system should have automation in it. So if your organization isn't of the right size to have a sophisticated marketing automation engine, your email can do basic automation, and most marketing teams should be using that.
COLLEEN SCOLLANS: Most of the automation is based on if/then rules. If somebody opens an email, send them a different type of email. If they don't open them an email, send them an emotive video of sorts. And emails are really starting to think about how you can integrate value added features so they can add more value. We talked about core content coming in. Content marketing, you're seeing videos, et cetera, more in email.
COLLEEN SCOLLANS: And advertising in email is a really big trend right now as well. You can use it to make more money from external ads, but it's really useful in internal newsletters to try different kind of segmented offers. In websites, it's all about optimization, trying to understand what our users and customers are interested in. The big thing that most marketing departments are doing right now is implementing A/B technology, where you have two pages with two-- the exact same pages with just one variant to try to get a sense of what our users and customers prefer.
COLLEEN SCOLLANS: Also used very heavily by UX professionals. And I think what's really interesting around the web and marketing technology is this distinction between exploration and conversion. Sometimes, when we build a website, our goal is exploration. We want our users to come to the page and we want them to explore things. We may have certain things we're featuring or preferencing, but we're really looking for an exploration journey.
COLLEEN SCOLLANS: So an example of that is a journal home page or a virtual issue. Other times, we just want conversion. We've got a single task we want our user or customer to complete. Register for an e-talk. Register for a webinar. Fill out a form. Try a product demo.
COLLEEN SCOLLANS: And in the marketing tech world, there are different technologies that can help that, and landing page technology is really spectacular for those high impact conversions. And if any marketing teams don't use it, I highly recommend it. A lot of solutions are incredibly, as I like to say, cheap and cheerful. And a way a lot of organizations are using them as that is the way the New England Journal of Medicine is here.
COLLEEN SCOLLANS: They're sending out an ad, or they're sending out an email, where they're trying to get people to go to a specific self-selected identification. In this case, it's my physician, a resident, or a student. And once you do that, you end up in a fully customized dedicated page. And there are all sorts of surveys and sticky bars and alerts and other things in the landing page technology that's really exciting.
COLLEEN SCOLLANS: In the exploration arena, I think what's probably most exciting for scholarly publishers is, in search engine optimization, the hottest thing right now is the pillar page. And that's where you create an anchor page around topics and content. And actually, we as scholarly publishers have been doing this for a really long time. It's a virtual issue.
COLLEEN SCOLLANS: But we haven't been doing is taking it the next level and really SEO optimizing it. And with a lot of SEO keyword tools and some other tricks and marketing technology, and automated content widgets, which I know the Silverchair platform has, for example, you can really take a virtual issue into a true pillar page. And I think you're going to see a lot of marketers exploring this in the scholarly publishing arena. So just some MarTech tips.
COLLEEN SCOLLANS: First, spend wisely. The tools are costly. Currently the average organization is spending 29% percent of their total marketing budget on MarTech. That includes people advertising and everything. And to ensure you spend wisely, make sure you lead with strategy. What are you trying to achieve?
COLLEEN SCOLLANS: What capabilities do you need and why? What's your business case? And then stay focused on tracking it. I see a lot of organizations lead with the tool. It's all about change. The Martec's law says that the technology is coming to us quicker than marketing teams can adopt it. And it's really important for marketing leaders to think about the change around marketing technology.
COLLEEN SCOLLANS: I have not seen an instance where it hasn't necessitated new metrics, new structures, new processes, and sometimes even new employees. You really need to think through all of the stuff that surrounds marketing technology, and you need to think about the pace. You don't want to put too much in too quickly. It needs to be paced very well. It requires both marketing and IT leadership, lots of research on who controls marketing technology.
COLLEEN SCOLLANS: But in my experience, you need a marketing leader who really understands the technology space and can address those strategy and change questions. But you also need really strong technology leadership. Neither function can do it alone. Customer data is your most important foundation. And it is incredibly complicated space. There are tools like CRM and CDP and DMP that you've all heard of.
COLLEEN SCOLLANS: I don't have time to get into all the nuances of them today. Happy to answer questions in breaks. But to say that they're overlapping and they're starting to blur. And the space we're going in is, I think everybody's acknowledged that the CRM is not good enough. And that's why we're looking at other tools to complement that. And just this year both Adobe and Salesforce have announced that they're coming out with a customer data platform.
COLLEEN SCOLLANS: And I think most marketing leaders are trying to see what that means. Another point I want to make on this slide is, customer data platforms are a great example, they're the it technology of 2019, but not everything calls itself a CDP is actually a CDP. So focus less on the branding and focus much more on the capabilities. A CDP claims to capture engagement data.
COLLEEN SCOLLANS: It claims to take anonymous profiles from DMPs as well. And it claims to also be your CRM. You need to make sure that those tools actually do all of the things. And then a question I get asked all the time is, do you go with the best in breed marketing technology stack? Or do you go with one of those big suites, like an Adobe, or an Oracle, or a Salesforce? And I think the answer used to be clear.
COLLEEN SCOLLANS: It used to be best in breed. The statistics are incredibly clear. It's gotten a little bit more difficult to do that, as the big companies keep buying up all the best in breed. Marketo being the most recent example, being acquired by Adobe. But my answer has always been hybrid. The big solutions are very expensive, and there's a lot of duplication and they're often franken-stacks, which means that they were put together based on lots of mergers.
COLLEEN SCOLLANS: And what you need to do is have a really solid foundation, which may include one of those enterprise tools. But you need to smartly plan your other tools around it to have areas of deceptive differentiation, to solve niche capabilities, and to cost control. And with that, I'm just going to say I've really just scratched the surface, but I hope I picked your interest in marketing technology. I'm happy to answer any more questions.
COLLEEN SCOLLANS: [APPLAUSE]
Segment:0 .
COLLEEN SCOLLANS: Hello, everyone. I'm happy to be here and give you a very quick drive-through marketing technology. So let's start with what marketing technology is. It's tools and technology that help marketing performance, and they broadly do six things. They help marketers target, reach, and engage with audiences and prospects and customers. They help optimize campaigns and digital experience. They improve customer experience and focus.
COLLEEN SCOLLANS: They automate and streamline tasks. They're at the nucleus of a marketing operation as well. They help be the hub for planning and strategy. And then we've talked a lot about this today, but they also help us capture data for analytical purposes. And I think marketing technology is especially important for scholarly publishing for what it enables. So firstly, we are all transitioning to OA and an increased focus on authors.
COLLEEN SCOLLANS: It captures data and really helps with the analytics we're all striving. Our users have high user experience as they're looking at consumer websites they go to everyday, and marketing tech helps with that. Many organizations have cost pressures, and marketing technology can make your marketing team more efficient and save cost. And a lot of us are historically internally focused and siloed, and we've built our products and our marketing infrastructure based on our internal organization.
COLLEEN SCOLLANS: And we're striving to be more customer-focused. But marketing technology isn't just about marketing. It really impacts an entire organization. And you can see some of them here. But just a few examples, product teams care very much about user experience. Sales teams care a lot and ask a lot for leads. Finance directors want to hear about marketing return on investment.
COLLEEN SCOLLANS: And publishers want data on their authors and author experience. So the marketing tech field really started in 2012 with about 150 tools. We're at over 7,000 tools. They say that marketing as a profession has changed more in the last three years than it changed in the 50 years prior. And I think a lot of that is because of this proliferation of technology.
COLLEEN SCOLLANS: And the tools come in different shapes and sizes. We have small edge tools. We have medium sized best in breed tools. And we have the large enterprise solutions, the SalesForces, the Adobes. But you can also build more tech capabilities into your products and platforms. And the tools are connected in what's called a marketing technology stack.
COLLEEN SCOLLANS: And the secret to a good marketing technology stack is it isn't just your tools pulled together. But they're built in a really organized and smart fashion around common data structures and slick integrations, particularly around analytics and customer data. And organizations have really clever ways in which they try to plan and organize their marketing technology.
COLLEEN SCOLLANS: It's a slightly scary graph from Gartner. I have my own model that looks at the capabilities of an organization and breaks them down. It's a really complicated space, and organizing it in visual ways is incredibly helpful. So let's look at some foundational marketing technology capabilities. So the first one is 360 degree view of a customer. And when talk about customer here, we mean an individual or an institution that's personally identifiable.
COLLEEN SCOLLANS: You know this individual or institution. But it doesn't have to be a customer in the traditional sense. It's really any one you have a relationship with-- an author, a member, even somebody maybe who's been on a market research panel. And we're trying to capture everything we can about that user from all the various systems and interactions we have.
COLLEEN SCOLLANS: We're looking at their transaction history, what have they purchased with us. We're looking at what they've told us in opt in, in our marketing opt ins, the forms they filled out, our demographic information. We're trying to pull in every other relationship they have with us. And, increasingly, we're also trying to capture their interaction data.
COLLEEN SCOLLANS: How do they engage with our marketing? What emails do they open? What ads do they click on? How do they engage with our websites, our product, our content? What do they view? What do they search? And that helps us get a really behavioral view of customers. And you can also pull in lots of great second party data.
COLLEEN SCOLLANS: ORCiD is a fantastic example in our industry that can come into your customer records and augment them. But sometimes you don't have a personally identified known person. We all have visitors that come to our sites and we have no idea who they are. And marketing technology solves that by creating anonymous visitor profiles, by pulling in device information, device IDs and cookies.
COLLEEN SCOLLANS: And it creates these user profiles, and then it aggregates them together around common interests. And much like in the customer data, we're looking at their interactions. How they engage with marketing, how they engage with our products and content. And we can pull all of that information into anonymous audience segments that we can then use for future marketing.
COLLEEN SCOLLANS: And in this space, there's also external data. You can buy in third party audience segments as well for advertising purposes. Now, if we really want to understand how our customers and users are engaging with our content, we need to have our content classified and structured, which is why semantic and content enrichment tools actually sit in the marketing tech landscape, because marketers care very, very much about them.
COLLEEN SCOLLANS: And the more precise we can structure our content, the more granular we can get, the better our segmentation and targeting can be. And we just don't want to know the structure of the content and how it connects back to topics and content. We also want to know how our content performs. And so marketing technology is trying to pull in anything they can about our products and content, all the data available.
COLLEEN SCOLLANS: So you know, some very simple ones, pulling in the usage data you can from Google Analytics, pulling in your citation data, pulling in your attention data. So you have that really robust view of your content. And when you have all of this data, you broadly can do three things. You have improved analytical capability. You can talk a do marketing orchestration, which I will explain.
COLLEEN SCOLLANS: And you can improve your activation and engagement channels. And that's just fancy way in marketing speak of talking about ways you reach customers. So activation channels are things like web and email and advertising and chat box, and engagement channels or things like influencer, marketing, and advocacy and social media. And so it's a super, super simple example.
COLLEEN SCOLLANS: But when you have that information, you can look at a content topic and you can pull out your top articles, perhaps by citation. And that might inspire new product ideas. And then you can connect that content to the authors that wrote those articles that might inspire you to do an author thank you campaign. And then you can connect that with the institutions where the authors work to see if the affiliating institutions have or have not purchased the content, which can then inspire some sales opportunities.
COLLEEN SCOLLANS: And this is a very simple idea. The analytics can be as sophisticated as the data you have, and many marketing technology solutions have a really clever predictive analytic tools built into them. But I agree with what the panelists said before. The data needs to be interpreted. Marketing orchestration. What that is a decision engine that sits between your customer data and your engagement and activation channels.
COLLEEN SCOLLANS: Very commonly used in B2B marketing and in membership organizations. And what you're trying to do is take a prospect from awareness all the way to a customer. And what marketing orchestration does is it recognizes the customer and sends the right marketing to the right customer in the right channel at the right stage in the journey. So if I'm a prospect, and I know very little about the product you're trying to sell me, I might have a very simple advertising.
COLLEEN SCOLLANS: As I moored up, the marketing orchestration engine realizes I'm now at the consideration stage and, you know, a webinar invitation. And then, at the point in which I purchase the product it knows that I'm a customer and can send me some onboarding materials. And marketing orchestration pulls that all together in a really clever way. So there are hundreds of activation and engagement capabilities.
COLLEEN SCOLLANS: And I have 15 minutes or so. So I'm just going to focus on a couple that I thought were germane to scholarly publishing and ones I know in my days we've talked about. So first is advertising. Ad tech is a subset of marketing technology. And ad technology does two things. It helps marketers buy and place ads, but it also helps publishers sell ads.
COLLEEN SCOLLANS: So it's the technology behind a lot of the ads on our journal platforms. And the big fish is Google, as you all know, and they've recently gone through a major rebrand we're all over analytical and marketing tools and ad tools are pulled together, and the Google DSP ad server is now called Google Ad Manager. And if we have really robust customer data and anonymous user segments, we can do some really interesting things with advertising targets.
COLLEEN SCOLLANS: And I'm not going to go through all the examples here, but you can imagine all of the permutations you can use. Could also take that data and upload it onto social media networks, and do match audience and look alikes. So if you have a list of customers or prospects that you want to find on Facebook, you can send Facebook that data and target them. And the social networks will also look at your data and find common attributes in their user base and you can look at look alike audiences.
COLLEEN SCOLLANS: Really big in media and publishing right now is keyword contextual advertising. So as opposed to the user or customer data being the decision engine, the words in the content that is next to the ad or surrounding the ad is the decision engine that tells us what kind of ads to show users. And I think this has some really interesting potential in our space.
COLLEEN SCOLLANS: Retargeting. Although some people are very scared of it, and find it very big brother-- I call it the shoes that haunt me on the internet all the time. But retargeting is when you visit a site, you go to another site, and that which you visited is now advertised to you. But it actually has incredibly high response rates, and is a pretty low cost marketing technology to implement.
COLLEEN SCOLLANS: Email, while waning in popularity, because there are so many better ways to market, is actually still being used. And email service providers are really doing a lot of really cool things. So of course you can target email. But a couple developments that I think are interesting, some of the more sophisticated ESPs are doing automatic templates based on your segmentation.
COLLEEN SCOLLANS: And they're also connecting with companies content management systems to pull in content based on the segmentation. So they're completely automating email tasks based on your customer data segments you've defined. Even the most simple email system should have automation in it. So if your organization isn't of the right size to have a sophisticated marketing automation engine, your email can do basic automation, and most marketing teams should be using that.
COLLEEN SCOLLANS: Most of the automation is based on if/then rules. If somebody opens an email, send them a different type of email. If they don't open them an email, send them an emotive video of sorts. And emails are really starting to think about how you can integrate value added features so they can add more value. We talked about core content coming in. Content marketing, you're seeing videos, et cetera, more in email.
COLLEEN SCOLLANS: And advertising in email is a really big trend right now as well. You can use it to make more money from external ads, but it's really useful in internal newsletters to try different kind of segmented offers. In websites, it's all about optimization, trying to understand what our users and customers are interested in. The big thing that most marketing departments are doing right now is implementing A/B technology, where you have two pages with two-- the exact same pages with just one variant to try to get a sense of what our users and customers prefer.
COLLEEN SCOLLANS: Also used very heavily by UX professionals. And I think what's really interesting around the web and marketing technology is this distinction between exploration and conversion. Sometimes, when we build a website, our goal is exploration. We want our users to come to the page and we want them to explore things. We may have certain things we're featuring or preferencing, but we're really looking for an exploration journey.
COLLEEN SCOLLANS: So an example of that is a journal home page or a virtual issue. Other times, we just want conversion. We've got a single task we want our user or customer to complete. Register for an e-talk. Register for a webinar. Fill out a form. Try a product demo.
COLLEEN SCOLLANS: And in the marketing tech world, there are different technologies that can help that, and landing page technology is really spectacular for those high impact conversions. And if any marketing teams don't use it, I highly recommend it. A lot of solutions are incredibly, as I like to say, cheap and cheerful. And a way a lot of organizations are using them as that is the way the New England Journal of Medicine is here.
COLLEEN SCOLLANS: They're sending out an ad, or they're sending out an email, where they're trying to get people to go to a specific self-selected identification. In this case, it's my physician, a resident, or a student. And once you do that, you end up in a fully customized dedicated page. And there are all sorts of surveys and sticky bars and alerts and other things in the landing page technology that's really exciting.
COLLEEN SCOLLANS: In the exploration arena, I think what's probably most exciting for scholarly publishers is, in search engine optimization, the hottest thing right now is the pillar page. And that's where you create an anchor page around topics and content. And actually, we as scholarly publishers have been doing this for a really long time. It's a virtual issue.
COLLEEN SCOLLANS: But we haven't been doing is taking it the next level and really SEO optimizing it. And with a lot of SEO keyword tools and some other tricks and marketing technology, and automated content widgets, which I know the Silverchair platform has, for example, you can really take a virtual issue into a true pillar page. And I think you're going to see a lot of marketers exploring this in the scholarly publishing arena. So just some MarTech tips.
COLLEEN SCOLLANS: First, spend wisely. The tools are costly. Currently the average organization is spending 29% percent of their total marketing budget on MarTech. That includes people advertising and everything. And to ensure you spend wisely, make sure you lead with strategy. What are you trying to achieve?
COLLEEN SCOLLANS: What capabilities do you need and why? What's your business case? And then stay focused on tracking it. I see a lot of organizations lead with the tool. It's all about change. The Martec's law says that the technology is coming to us quicker than marketing teams can adopt it. And it's really important for marketing leaders to think about the change around marketing technology.
COLLEEN SCOLLANS: I have not seen an instance where it hasn't necessitated new metrics, new structures, new processes, and sometimes even new employees. You really need to think through all of the stuff that surrounds marketing technology, and you need to think about the pace. You don't want to put too much in too quickly. It needs to be paced very well. It requires both marketing and IT leadership, lots of research on who controls marketing technology.
COLLEEN SCOLLANS: But in my experience, you need a marketing leader who really understands the technology space and can address those strategy and change questions. But you also need really strong technology leadership. Neither function can do it alone. Customer data is your most important foundation. And it is incredibly complicated space. There are tools like CRM and CDP and DMP that you've all heard of.
COLLEEN SCOLLANS: I don't have time to get into all the nuances of them today. Happy to answer questions in breaks. But to say that they're overlapping and they're starting to blur. And the space we're going in is, I think everybody's acknowledged that the CRM is not good enough. And that's why we're looking at other tools to complement that. And just this year both Adobe and Salesforce have announced that they're coming out with a customer data platform.
COLLEEN SCOLLANS: And I think most marketing leaders are trying to see what that means. Another point I want to make on this slide is, customer data platforms are a great example, they're the it technology of 2019, but not everything calls itself a CDP is actually a CDP. So focus less on the branding and focus much more on the capabilities. A CDP claims to capture engagement data.
COLLEEN SCOLLANS: It claims to take anonymous profiles from DMPs as well. And it claims to also be your CRM. You need to make sure that those tools actually do all of the things. And then a question I get asked all the time is, do you go with the best in breed marketing technology stack? Or do you go with one of those big suites, like an Adobe, or an Oracle, or a Salesforce? And I think the answer used to be clear.
COLLEEN SCOLLANS: It used to be best in breed. The statistics are incredibly clear. It's gotten a little bit more difficult to do that, as the big companies keep buying up all the best in breed. Marketo being the most recent example, being acquired by Adobe. But my answer has always been hybrid. The big solutions are very expensive, and there's a lot of duplication and they're often franken-stacks, which means that they were put together based on lots of mergers.
COLLEEN SCOLLANS: And what you need to do is have a really solid foundation, which may include one of those enterprise tools. But you need to smartly plan your other tools around it to have areas of deceptive differentiation, to solve niche capabilities, and to cost control. And with that, I'm just going to say I've really just scratched the surface, but I hope I picked your interest in marketing technology. I'm happy to answer any more questions.
COLLEEN SCOLLANS: [APPLAUSE]
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