Avishai Sharon is CEO at TrenDemon, a content marketing attribution solution with over 16 years of experience in building digital products. TrenDemon is the world’s leading autonomous content marketing attribution solution, helping marketers better understand the impact of their marketing efforts on their revenue, as well as automatically increasing leads from their content via marketing personalization in real time.
We recently asked Avishai for his insight on data-driven marketing. Here’s what he shared:
Can you tell us about the mission behind TrenDemon? How are you hoping to impact the digital marketing space?
TrenDemon helps marketers better align their efforts with the company’s business goals. In my previous role, as a founder at an online marketing agency, I experienced first-hand the challenges of measuring and proving content marketing ROI. I was struggling to show the value and impact of our work on the company’s primary goal: revenue.
TrenDemon is SaaS solution, which sets up in less than 20 minutes and connects to the company’s CRM or marketing automation system. It works by mapping the customer journeys and attributing the influence of content, events and sources on the various business goals. Our solution also leverages those insights to automatically improve customer journeys in real-time on the site using personalization.
Can you tell us about content marketing personalization and attribution? What is it and why should brands be using it?
People are much more in control of the information they consume than in the past when they were much more affected by advertising. Today, if the brand’s message does not carry any value for the audience, it simply doesn’t get past the noise. Content marketing, as a opposed to advertising, puts the emphasis on bringing value (fun, education, insight) to the audience as opposed to trying to sell to them.
The good news is that this type of communication between brands and people is more effective, but since the influence on the user actions take more time and more touch points, we face an attribution challenge. Simply put, it becomes harder to measure the impact a content marketing piece has on the customer journey.
Without measurement, it becomes harder to gauge progress, improve and make efficient use of resources. Another challenge is that not all content is relevant to everyone. That is why marketing personalization is a key component in engaging every person depending on their position in the journey as well as what we would like them to reach.
What are the advantages of personalized content in real time? What is the pay off?
Companies invest a lot of effort in getting people back to their site, but once there, they all get the same experience. The opportunity is that by adding personalization to the site, you can dramatically increase conversion rate by up to four times as well as get more engagement with content.
Companies don’t realize they sit on a wealth of data that can be leveraged to improve performance. Marketing personalization is a relatively simple and automated way to use that data potential.
How can companies gain a more holistic understanding of how their customers are engaging with them? What can they do with this information to improve marketing and grow sales?
We work with many companies that don’t have clearly defined goals for their marketing efforts. There are many parameters that can be measured, but without the relevant context, it is almost impossible to gain a sense of whether our assets and activities are actually impacting business results.
Once we have clearly defined objectives, we can connect the dots and start to look for patterns in the data. For example, we can look for a correlation between which articles people read on the site or whitepapers they download, and which people became marketing qualified leads or sales. The next step is to test this hypothesis in order to establish a causal relationship between them. As a side note, personalization can serve as the hypothesis-testing platform.
On Saturday, in Part 2, we’ll talk to Avishai about data-driven marketing, including common mistakes of content marketers, essential tools to collect marketing data, and best practices to prepare for future success.