Digital transformation is a big issue for most businesses but, as with anything technology-related, it’s not a one-time-only event. Rather, it’s a moveable feast that must necessarily keep pace with the changing capabilities that emerging technology offers.
A group of us from Simple attended Microsoft’s Business Forward event in Melbourne this week — where our chief executive officer Aden Forrest revealed we’re partnering with Microsoft and building a new Intelligent Marketing Platform designed to reinvent marketing resource management using Microsoft’s intelligent cloud and technology stack.
It was great to see our software startup on stage with some classic Australian brands also transforming their business, including Hills (maker of the famous Hills hoist), health fund BUPA and wellness company Blackmores.
So what were some of the key takeouts? Firstly, across industries and business units, from marketing to sales and elsewhere — we’re all being confronted with this need to transform.
“Every industry is, in some ways, under siege,” according to James Phillips, Corporate Vice President in Microsoft’s Business Applications Group, who described the attitude of business leaders towards the opportunity that digital transformation affords them as “one part panic and one part glee”.
We drew some conclusions about how organisations can use cloud technology, artificial intelligence and connected data to fuel those transformations.
1. Connected intelligence transforms the value of data
The new wave of business innovation will be transformed by intelligent cloud technologies and the ubiquitous connections between them.
“The one things that’s changing on the planet is that data is coming out of everything,” Phillips said. “Every time someone tweets about your brand, every time somebody comes by your website.
“Today, every product, increasingly, is flowing data. And that data in the context of the business processes surrounding your products changes everything,” he said.
But while data and connected technology by themselves are important, the real power and value is in harnessing the insights that can be generated using artificial intelligence.
2. Real-time data and artificial intelligence transform customer experience
Organisations today can transform customer experiences by injecting real-time data and artificial intelligence continuously into their key business pillars in a constant feedback loop that gets more intelligent with every cycle.
This drives authenticity during moments of truth when businesses come into contact with customers, and increases the probability of conversion.
3. Businesses can now proactively manage the customer experience
The ability to move from reacting to the data to predicting future outcomes, thanks to AI and machine learning, has big implications for businesses: namely offering the ability to forecast and solve problems before they arise.
“[You have] the ability to understand when a product is on its way to being unhealthy before it actually gets there and creates customer dissatisfaction so you can proactively and preemptively … fix it,” Phillips said.
Translating this idea to marketing, more than $40 billion is spent on marketing technology, but only 1% of this goes into planning and managing their marketing activity and tools to ensure the best outcome for their brand.
Simple’s new Intelligent Marketing Platform offers marketing teams the ability to connect the data from all the — currently disconnected — tools marketers use throughout their marketing process, combined with the power of artificial intelligence, to make predictions about how to improve marketing campaigns and provide customers exceptional brand experiences.
We’re confident the technology, data and insight Simple can provide with our Intelligent Marketing Platform will help other brands to surface a new wave of brand intelligence so they can execute and scale their digital transformation vision.
Simple’s marketing resource management system helps enterprise marketing teams to plan, review and optimise their marketing activity and manage workflows to create exceptional customer experiences across all channels. Book a Demo to see how it works.