We’re back with the next installment of Markies Monday, a weekly blog series designed to help you learn more about the 2020 Oracle Markie Awards and its categories, finalists, and winners. Make sure to check back each week to learn how Oracle CX customers are driving success and building customer relationships that last.
The Thinker Award for Marketing Innovation honors companies that used new technology or a never-before-seen approach to attract, interest, and engage an audience. Radical marketing experiences come from being brave enough to take bold risks, and it’s evident that the entrants in this category are marketers who aren’t afraid to “rock the boat.”
Let’s take a look at a few of their best practices.
Be bold and try new marketing approaches
Cisco Systems, Inc., this year’s Markie Award category winner, showed how marketers can think and act differently. Cisco’s Global Partner Marketing organization historically leveraged email as its primary communications channel with its growing ecosystem of more than 60,000 partners. A long-time Oracle Eloqua customer, Cisco launched Partner Update News Hubs—a single destination with actively curated content delivering customized Cisco news and resources.
Since its launch, Cisco has seen significant increases across the board including:
- Binge rate of over 30% and a 42% increase in engagement over other approaches.
- Average session times over six minutes.
- 46% more asset views and 52% more time spent on assets compared to an email that drives to a single offer.
They’ve reduced the number of email campaigns by 34% since launch compared to the previous year while achieving unique click-through rates of 4.2% for email targeted based on persona. Plus, 31% of partners who visited the site signed up for the email notifications, and subscriber unique click-through rates increased each month (currently sitting at early 20%).
Harness the power of data to drive personalization and relevant content
Markie Award finalist, Covance, a business segment of global life sciences company LabCorp, set out to reposition its human clinical trials business. As a part of this retooling their goals were to:
- Build awareness.
- Generate opportunities for sales.
- Position Covance Clinical as the right partner to save time and money on clinical trials.
Using Oracle Eloqua, the Covance marketing team developed and executed a multi-channel campaign targeting the top 40 pharmaceutical organizations. They introduced a new differentiated messaging framework tailored to each unique pharmaceutical company and won them over with relevant content informed by what their customer data told them. Using account based marketing strategies, the team went to market with a smart and scalable campaign, which included hyper-targeted placements. In two months, they generated more than 12 million impressions, a 61% increase in leads, a 12% increase in ROI, and positively changed brand perception by +5% year-over-year.
Create connected and personalized experiences at scale
Markie Award finalist, Healthgrades, the first comprehensive physician rating and comparison database providing information about doctors, hospitals, and over three million health care providers, is no stranger to harnessing the power of data. Over half the Americans who visited a doctor last year visited Healthgrades.com. Healthgrades sought to combine over 3.5 trillion pieces of data to predict visitors’ interests on the website. Using Oracle Eloqua, they sent more than 650,000 emails with over 50% open rates and 40% open-to-click rates. Less than 60 out of more than 150,000 users unsubscribed or opted out. Visitors in these predictive campaigns were 57% more engaged with a 35% higher rate of scheduling appointments with a physician. In short, Healthgrades helped consumers get the right information quickly when needed—and they loved it.
Use data-driven marketing to identify new opportunities
Markie Award finalist, Spur Group, focuses on offering a warm and child-friendly environment with generous portions and great service across its seven diverse restaurant brands. Spur Group attributes the growth of its global restaurant chain to its loyalty marketing strategies, boasting a loyalty membership database of over 1.4 million members.
Its marketing team wanted to push the boundaries by using what they excel at – their relationship with customers targeting loyalty customers and other consumers. Using Oracle Eloqua and DMP, Spur Group developed highly personalized communications centered around each customer’s preferences including time, investment, location, product choice, and a multitude of other variables. This inspired them to leverage their audience in a subtle and intelligent manner. They not only successfully created relevant marketing messages that drove sales but used that data to match unknown audiences with similar behavior patterns and effectively nurtured these leads to double the historic engagement rate. Ultimately, they increased engagement rates of new leads by more than 300%, with up to 1,200% increase in ROI.
How are you “rocking the boat?”
Smart marketers regularly reevaluate their strategies and tactics to continuously innovate. By leveraging the right solution, they build better, more resilient, and higher value customer relationships, particularly in today’s dynamic Experience Economy.
Learn more about our Markie Award finalists and winners here, and stay tuned on how you can share your organization’s own innovation success story by entering the 2021 Markie Awards.