The digital marketing and advertising world has gone through a substantial amount of changes in the past few years. Between new technologies and new ways of engaging customers, marketers must constantly be on the lookout for innovative methods of delivering the personalized experiences that consumers have come to expect.
For this reason, there is intense interest in any sort of technology that will streamline the collection and analysis of the abundance of customer data that marketers must contend with. All this insight needs to be leveraged as part of the goal of delivering contextually relevant interactions to the right customer at the right time. Having the right technology in place to achieve that goal is crucial, which is why it’s so interesting to see where solutions landed in the July 2018 Gartner Hype Cycle for Digital Marketing and Advertising, 2018.
The Gartner Hype Cycle reports are designed to contextualize technology innovations affecting the marketplace. There are several phases to these reports, and technologies are assigned to each phase based on Gartner analysts’ determinations of when they will reach mainstream adoption. The specific phases are, according to Gartner:
- Innovation Trigger – A breakthrough, public demonstration, product launch, or other event generates significant press and industry interest.
- Peak of Inflated Expectations – During this phase of overenthusiasm and unrealistic projections, a flurry of well-publicized activity by technology leaders results in some successes, but more failures, as the technology is pushed to its limits. The only enterprises making money are conference organizers and magazine publishers.
- Trough of Disillusionment – The technology doesn’t live up to its overinflated expectations and rapidly becomes unfashionable. Because of this, media interest wanes except for a few cautionary tales.
- Slope of Enlightenment – The focused experimentation and hard work of an increasingly diverse range of organizations ultimately leads to a solid understanding of the technology’s applicability, risks, and benefits. Commercial off-the-shelf methods and tools ease the development process.
- Plateau of Productivity – The final phase, where the real-world benefits of the technology are fully demonstrated and accepted. There is a lower risk of adoption in this phase, which makes growing numbers of organizations comfortable implementing a solution. This is also when the rapid growth phase of solution adoption begins; by this point, about 20 percent of the technology’s target audience has adopted or is adopting the technology.
Gartner cited Redpoint Global as a Sample Vendor for two technologies in the Hype Cycle for Digital Marketing and Advertising, 2018: Multichannel Marketing Hubs and Customer Data Platforms. We’re proud to be included in these two areas, both of which we feel are key technologies for marketers to thrive in a more competitive landscape.
Multichannel Marketing Hubs are defined as “a technology that orchestrates a company’s communications with and offers to customer segments across multiple channels. These include websites, mobile, social, direct mail, call centers, paid media and email.” This is how Redpoint has positioned the Redpoint Customer Engagement Hub™, which allows for real-time orchestration of contextually relevant messaging that can be delivered to consumers regardless of engagement touchpoint.
Redpoint’s offering in this space, is designed to consolidate all customer information across siloed databases into what we call a “golden record,” which features all that is knowable about the customer in a single, multidimensional customer view.
These two technologies – the multichannel marketing hub and the customer data platform – are currently placed at the Peak of Inflated Expectations in the Gartner Hype Cycle. From Redpoint’s perspective, these two solutions are crucial to the modern marketer’s long-term success. A multichannel marketing hub especially helps marketers engage the always-on, always-connected consumer through the touchpoints they prefer at the cadence they desire. By doing this, brands are able to deliver a personalized customer experience and thrive in a marketplace where customer experience is a competitive differentiator. Customer data platforms power that orchestration through the creation and management of the golden record.
With these two technologies in their corner, brands engage customers based on deep insights about their behaviors and preferences. Doing this ensures that marketers know their customer base and can communicate at the right time with the right message delivered through the right channel. Although the technologies may be hyped right now, it’s Redpoint’s view that these two solutions properly deployed will be transformative for any brand.
* Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.