New Solution Empowers CMOs and Marketers to Know Where to Spend their Next Marketing Dollar with Confidence
Allocadia, leaders in Marketing Performance Management (MPM) and creators of the #RunMarketing movement, announced today a new Customer Journey Insights solution available immediately in their MPM cloud software platform.
Forrester reports only 13% of companies are able to prioritize the customer journey over functional silos in their structure.1 These new capabilities from Allocadia allow organizations to plan, track, and measure marketing investments across the stages of the customer buying journey, from awareness, to consideration to purchase and beyond.
For the first time, businesses can understand marketing investment in the context of how their customers buy from them. This insight, aligned with customer engagement activity at each stage, ultimately reveals the ROI of marketing programs at each stage of the journey. Marketers can then use this information to constantly monitor and adapt plans and investments to optimize marketing performance.
“With this release, we continue our commitment to marry data and technology to help marketers know where to spend their next marketing dollar, with confidence,” said Allocadia co-founder and Chief Product Officer Kathleen Berry. “The customer journey is a foundational framework in which our customers organize their marketing strategies, but it can be difficult to plan against this journey at large, distributed organizations. Our goal with this launch is to help marketers understand if the right investments are in place to support each step a customer takes in the buying process. We believe it will give new levels of insight and control over marketing performance.”
The announcement comes just weeks after the company announced a new set of marketing performance analytics to provide marketers with strategic and tactical ROI dashboards with insights into how they are managing and leveraging their investments. “This layer of insight was developed in the same method as our entire product suite,” Berry continued, “by talking closely to customers and analysts as well as understanding market needs. In 2017 we’ll continue to unveil innovative ways to look at marketing performance within the approaches of modern marketing.”
“We’re focused on supporting every step of the customer journey in our marketing efforts,” said Doug Sechrist, Vice President, Demand Marketing at Infusionsoft. “Allocadia’s new Customer Journey Insights will provide us with a framework and line of sight into how well we’re meeting our responsibility to deliver a cohesive customer experience. We will be able to measure our activities and investments within each stage, and will work with the experts at Allocadia to connect these to business results for true ROI.”
“This is a strong move by Allocadia, and I believe it will be extremely well-received in market,” said Kathleen Schaub, Vice President, CMO Advisory Services at IDC. “We advise organizations to migrate to the customer journey as the primary way in which they measure marketing performance. This strategy works best if it begins with a clear view into the CMO’s plan for activities and investment. As organizations mature, they can then progress to more detailed decisions such as setting funding targets. Best practice requires that these decisions be founded in strong data.”
The new Customer Journey Insights solution delivers a new experience for marketers to plan and track investments at each stage of the customer buyer journey. The solution also includes new dashboards that are easily configured to visualize how plans, investments, and results are taking shape against a customer journey backdrop. The dashboard integrates investment data from Allocadia along with external data from finance, sales, and marketing systems to compare investments and plans to the program results.
To learn more about Allocadia’s new Customer Journey Insights and its implications for Marketing Performance Management, read “Oh, the Places They’ll Go: Planning for the Customer Journey.”
1Take L2RM To The Next Level With A Pivot To Lifetime Customer Engagement”, Forrester Research, Inc., January 19, 2017
Allocadia empowers marketers to run marketing more effectively by providing them with greater control over their marketing investments and the insights they need to drive revenue. The recognized leader in Marketing Performance Management (MPM), Allocadia serves more than 150 customers and thousands of users worldwide, and manages billions of marketing dollars for companies like Microsoft, Juniper Networks, VMware, Red Hat and Charles Schwab.
Katie Martell, Allocadia