Program Details

Exponential Power of Collaborative Marketing

Working With Partners On Marketing Goals Brings Forth Better Business Outcomes

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Overview

An e-commerce marketplace misses a huge opportunity to drive sales when it doesn’t enable sellers with performance marketing programs derived from aggregated customer data.

All the best performance marketing practices, customer behavioral data and insights, and world-class creatives languish because a national brand can’t get them into the hands of its local partners in a timely fashion that achieves legal compliance.

What’s missing in both cases? Answer: Collaborative marketing.

Collaborative marketing is a paradigm shift in marketing where companies and their partner networks share audience data, expertise and technology to inform and execute growth strategies, deliver a consistent brand experience, and achieve business outcomes.

The CMO Council, in partnership with Evocalize, undertakes a critical study to understand how businesses are turning to collaborative marketing to work together for mutual benefit.

background

Collaborative marketing is poised for explosive growth. Forrester predicts a single subset of collaborative marketing technology, called through-channel marketing automation, to hit $1.18 billion by 2023, a CAGR of 25.2%. Why the sudden interest?

Some companies now have access to vast first-party audience behavioral data, rich customer insights and testing methodologies that enable them to execute digital marketing best practices. But when companies, such as local companies and marketplace sellers, lack these necessities, they must form collaborative relationships with their partner network, enabling them to execute best practices and grow exponentially.

Collaborative marketing also ensures consistent use of brand-approved creatives, messaging and engagement, as well as the distribution of co-op funds. All of this avoids a fragmented customer experience that will unravel into confusion and frustration and erode trust.

Another driver for collaborative marketing is the rising tide of privacy laws that make third-party data more difficult to acquire. Privacy changes from the likes of Google and Apple, such as getting user permission before tracking their data, are accelerating the need for businesses to embrace marketing collaboration in order to gain first-party audience data and expertise from their partner networks.

But marketing collaboration isn’t easy. It requires new distributed marketing technology, a commitment from all parties, and a communications pipeline that fosters sharing and reinforces a shared purpose. Most importantly, it requires courage to stay the course.

Research: Survey & Reports

Webinar

JUL
27

The Exponential Power of Collaborative Marketing

Are you feeling left out of the data revolution? Register now to learn how you can keep your company from being left in the dust....

2021-07-27 10:00:00 2021-07-27 11:00:00 America/Los_Angeles The Exponential Power of Collaborative Marketing Are you feeling left out of the data revolution? Register now to learn how you can keep your company from being left in the dust. CMO Council cmoteam@cmocouncil.org

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Curated Facts & Stats

Online shopping accounts for 20% of total retail globally, and that number is expected to hit 30% by the end of the decade.

Source: Forbes
Tags: eCommerce

Behaviorally targeted ads are twice as effective as non-targeted ads.

Source: Venturebeat

47% of consumers feel that personalization online is invasive — up from 44% in 2021, and this is especially true with AI-powered services.

Source: Venturebeat

Australia is the 11th-largest e-commerce market in the world, and revenue is predicted to reach $32.3 billion as soon as next year.

Source: Digital Commerce 360
Tags: eCommerce

Well over a third of businesses (37%) are now exclusively using first-party data to personalize customer experiences.

Source: Venturebeat

While most customers expect personalisation, less than half (40%) say they trust brands to use their data responsibly and keep it safe.

China leads the world in retail ecommerce share, with 45.3% of the country’s retail sales occurring online this year.

Source: Insider Intelligence
Tags: eCommerce

Businesses that use data-driven (personalized) marketing strategies have five times more ROI than businesses that don’t.

Source: Forbes

60% of senior executives say that the loss of third-party cookies will have a disruptive effect on their marketing.

Source: Forbes

Since the start of the pandemic and remote work, the use of collaboration tools in the workplace has increased by 44%.

Source: Forbes
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Program Themes

  • Omni-Channel Marketing
  • eCommerce