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Engineering Trust: Overcoming the Fallacy of Accuracy with Martech

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Delivered by Steve Lok, Chief Marketing Technology Consultant, MarTech Alliance
Martech Festival, 31st October 2018

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Engineering Trust: Overcoming the Fallacy of Accuracy with Martech

  1. 1. 1
  2. 2. 2
  3. 3. THE NEW NORMAL
  4. 4. 4 Steve Lok Chief Marketing Technology Consultant Martech Alliance Ex-Global Head of Martech The Economist So, Can You Engineer Trust?
  5. 5. 5 173 Local TV Stations $2.73 Billion in Revenue Nearly 10,000 employees Controlled by ONE Entity: Sinclair Communications KINDA FAKE KINDA REAL
  6. 6. WE ARE LIVING IN AN ERA OF TOO MUCH NOISE
  7. 7. The Economist IS (now) A (quite profitable) NEWSPAPER
  8. 8. 4X SUBSCRIPTION PROFIT 4 YEARS~£9m 2013 >£80m 2017
  9. 9. 13x MARTECH INVESTMENT£150k 2014 >£2m 2017
  10. 10. PAYING FOR RELEVANCE 62% 2013 >65% 2018
  11. 11. DMP (3rd party data management platform) 2014 Programmatic (2nd party data) 2015 CDP (1st party customer data platform) 2016 Audience ML (data modeling) 2017 EVOLVING TECH 2018= AI?
  12. 12. 2018 : INTEGRATING & LEVERAGING AI + ML + CDPs: SIGNALS vs NOISE
  13. 13. 13 i go here
  14. 14. ID EGO SUPEREGO (UNCONSCIOUS) (CONSCIOUS) (METACOGNITION)
  15. 15. 15 INSTINCT NEED WANT IMPULSE DRIVE CONSCIOUS BEHAVIOR ? PERSONALISATION
  16. 16. 16 personalisation kinda sucks rn
  17. 17. 17 unconscious INSTINCT NEED WANT IMPULSE DRIVE
  18. 18. 18 WHAT VALUE IS TO YOU CHANGES
  19. 19. 19 TRUST = (CONTINUOUS) VALUE
  20. 20. 20 TRUST = (FUTURE) VALUE
  21. 21. 21 GENERATING TRUST IS INCREDIBLY COMPLEX
  22. 22. 22 TRUST = HUMAN-LIKE
  23. 23. 23 YEAH!
  24. 24. 24 NOPE NOPE NOPE NOPE NOPE PLEASE NO
  25. 25. 25 THIS DOES NOT GENERATE TRUST
  26. 26. 26 THIS DOES NOT GENERATE TRUST
  27. 27. 27 ENGINEERING TRUST: SIGNALS + CONTEXT = CHASE RELEVANCY, NOT ACCURACY
  28. 28. WIN Journey Customer Knowledge Location Behavior Patterns Product Relationships Preferences Channel Consistency Processes and UI MARKETING MOMENTS One to One One to Few One to Many Foundation RELEVANCY Source: Adapted from Gartner report on Personalization, June 2015
  29. 29. SIGNALS IN CONTENT = REAL MEANING Meaning = Motivation Source: Adapted from OpenTopic & IBM Watson on Cognitive Marketing, 2015
  30. 30. CONTEXT IN JOURNEYS Decisions = Drive
  31. 31. Set C Set A Set B Set D Set E Set F Set * MULTIPLE SETS OF SIGNALS
  32. 32. Set C Set A Set B Set D Set E Set F Set * Identified Normalised Owned CDP + AI + ML: INTEGRATE & LEARN & DERIVE
  33. 33. 33 MARTECH LANDSCAPE 2018
  34. 34. 34 WHICH ONES DO YOU NEED TO GENERATE TRUST?
  35. 35. NEED: REAL DATA SCIENCE FOR: CONSCIOUS BEHAVIOR
  36. 36. NEED: EMOTIONAL SCORING FOR: UNCONSCIOUS DRIVERS Paradox of choice resolves with emotional choices Behavioral & emotional scores are multidimensional Scores help to identify behaviorally unique users
  37. 37. NEED: REAL ML + AI FOR: DERIVING CONTEXT ● Supervised machine learning algorithms to derive & predict ● Likelihood to perform an action or make a change ● Self-training models use anonymous data in user profiles
  38. 38. NEED: REALTIME DECISIONING FOR: RELEVANT COMMS
  39. 39. 39 TRUST = RELEVANCY (not creepy sh*t)
  40. 40. MACRO MOMENT MICRO MOMENT NEGATIVE IMPACT POSITIVE IMPACT CAN YOU ENGINEER TRUST? SHOULD
  41. 41. !
  42. 42. 42 Engineering Trust: Relevancy vs. Accuracy Steve Lok Please reach out to me at : steve@lokwise.com steve.lok@martechalliance.com @lokwise if you’d like to chat about ideas or need help, or have feedback and questions about this presentation. Chief Marketing Technology Consultant Martech Alliance Ex-Global Head of Martech The Economist

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