Buzz, Buzz, Buzz! Marketing Technology Terminology Explained

With so many new tech terms floating around these days, it can be hard to keep up with what’s going on in the tech world. With big data and cloud computing becoming so pervasive, it’s more important than ever to stay on the up and up with new terminology. Here’s a breakdown of some of the buzzwords you’re bound to encounter from general to more specific technology needs in data..

SaaS

SaaS (Software as a Service) is the biggest market in cloud computing and is growing at the fastest rate. This type of service uses the Web to deliver applications, but the apps are managed by a third-party vendor. Then, you access this party’s interface on your own side, but the apps don’t need to be installed and run on individual computers, which is why it’s so convenient and appealing to users. Remember when you actually had to buy shrink wrap software, install it, maintain it, and upgrade it to the new versions? Examples of this are apps from Google, Salesforce and Cisco WebEx.

PaaS

PaaS (Platform as a Service) is used for apps and other types of development while providing cloud components to software. It’s a service that offers developers different hooks and tools to develop the platform. Microsoft Windows Azure is an example of this type of platform–it gives you tools to develop mobile apps, social apps, websites, games and more. You build them on your own but the APIs hook them into Azure and run them through the platform.

IaaS

IaaS (Infrastructure as a Service) is a self-service model that allows you to access, monitor and manage remote data center infrastructures. A system like this negates the need to purchase hardware because you can access it all remotely through the cloud. Users have an infrastructure on top of which they can install any required platform. Amazon Web Services and Google Compute Engine are examples.

iPaaS

iPaas (Integration Platform as a Service) is a cloud-based integration solution. It’s a platform for building and deploying integration within the cloud and between the cloud and enterprise. Users can develop integration flows that connect apps that live in the cloud or locally and deploy them without having to install or manage hardware. This is still in its early stages and will likely be built out further.

DaaS

Data as a Service!

Don’t get overwhelmed yet–we’re not quite done! DaaS (Data as a Service) is a cousin of SaaS because it’s the information that’s delivered on-demand through the software. Data equates to deep insights, and the more we know the better decisions we can make! Between consumer data, operational data, and more- the more we understand how our day-to-day business works, the better prepared we are for future growth and scale!

MDM

MDM (Master Data Management) is a method of letting an enterprise link all of its critical data to one master database in order to have a common point of reference. It helps you be more consistent about reporting and regulatory compliance. You decide for yourself what information is considered master data and then use a software to manage it all in one place. Also minimizes future projects, since necessary data is readily available to integrate into future systems.

ESB

ESB (Enterprise Service Bus) is a software architecture model that is used to design and implement communication between mutually interacting software apps. All of this occurs in a service-oriented architecture (SOA). It’s helpful to think of an ESB as a mechanism that manages access to apps and services via a single, simple interface for the end users. IBM states that ESB is not a new product per se. Rather, it’s a new way of looking at how to integrate apps and coordinate resources.

EAI

EAI (Enterprise Application Integration) refers to the plans, methods and tools that help to modernize and coordinate computer applications. The enterprise can keep using their existing apps and databases and add new apps and technology without disrupting service. It involves coming up with new ways to reuse what you already have and add additional apps and data.

 

Good Start On Terminology

Anything you think should be included to make a more comprehensive list? Wondering how it applies to your enterprise?

http://searchvirtualdesktop.techtarget.com/definition/desktop-as-a-service-DaaS

https://www.mulesoft.com/resources/cloudhub/what-is-ipaas-gartner-provides-reference-model

http://www.networkworld.com/article/2182527/virtualization/iaas-vs–paas-vs–saas.html

https://msdn.microsoft.com/en-us/library/bb190163.aspx

https://en.wikipedia.org/wiki/Enterprise_service_bus

http://searchsoa.techtarget.com/definition/enterprise-service-bus

http://searchsoa.techtarget.com/definition/EAI

What Is a Platform? Blending Technology And Collaboration

Inspired by the increasingly collaborative and interactive digital marketplace, the platform business model encourages consumers to not only purchase products and services but also contribute value to the organization. According to technology analyst Sangeet Paul Choudary, platforms allow users to “create and consume value”; YouTube, eBay and PayPal are just a few examples of a platform business model where customers are more than consumers — they are also contributors.

Platform Basics

The Harvard Business Review explains that a platform business is a multifaceted approach that incorporates consumers into the model in never-before-seen ways using cloud technology, social networking and mobile apps. With these methods, your platform can connect different customer groups and allow them to interact. On eBay, for example, buyers connect with sellers using the website as their base, while PayPal allows two groups of users to exchange money using its website and mobile app.

The Allure of the Platform

The platform business model is appealing to modern-day business owners because it capitalizes on what’s popular right now: interactivity, social media and the always-connected mindset of millennials and beyond. Potential customers always have a smartphone in hand, and they interact with friends through a variety of web- and cloud-based sources. Thus, creating a platform that makes the most of digital connections, technology and mobile apps seems like a smart and current way to elevate a business.

However, a platform alone does not guarantee success. For your platform to succeed it must attract enough interested producers and consumers to contribute their business, and it must be well-designed, focusing on efficiency and ease of use. Building connections is the key to success for your platform model, but not all business focus on this important step before launching their platform with sub par results.

Platform Benefits for Your Business

A successful platform business model cultivates connections before going live, and it builds a base of interested consumers and producers who want to add value to the business with their contributions. Using the eBay example, a lack of products for sale — that is, not enough sellers — will fail to attract interested buyers, resulting in a floundering platform.

When your platform is well-established, your business can enjoy a number of significant benefits.

Broader Contributor Network

You don’t have to develop everything in house when you have a bustling platform; instead, you will have contributors, such as app developers, from across the globe helping to expand your business. This rich network of contributors can respond to industry and customer demands, delivering the products and services that customers want at a more efficient pace. As a result, your business can accelerate growth thanks to its efficient and ever-growing network of contributors.

Extensive Marketing

Contributors to your platform will share their developments with their digital circle. App developers, for example, might tweet about their newest creation, while content writers might share their latest blog post on their Facebook page. As a result, your growing contributor network will deliver extensive — not to mention free — marketing for your business. This marketing can help build your customer base and see your business grow.

Limitless Potential

Web- and cloud-based networks offer limitless potential for your platform. You can continue to recruit developers and customers via the web and mobile apps, since tapping into this rich network allows you to reach beyond regional boundaries and engage with customers from across the globe.

Platform Practicality

Blending technology and collaboration, the platform business model capitalizes on modern-day trends, including social media. Choosing this model for your business can lead to growth and success if your network is well-developed, your contributors are talented and your customers are engaged. Working toward a platform doesn’t happen overnight, but the effort to build a platform can result in long-term benefits and growth.

Sources:

http://www.wired.com/insights/2013/10/why-business-models-fail-pipes-vs-platforms/

https://hbr.org/2013/01/three-elements-of-a-successful-platform

http://sloanreview.mit.edu/article/how-to-win-with-a-multisided-platform-business-model/

http://www.inc.com/phil-simon/why-your-company-should-build-platform.html

Service as a Service

First came PaaS then came Saas. But if we told you there is an additional SaaS in town? Service as a Service. That’s right! You might already be investing in software to enhance your business model and create new service revenue streams but do you know if you’re fully optimizing the use of that software? Are you aware that your teams may lack knowledge or aptitude for understanding the nuances of that software? This is where Service as a Service enters:

Filling the Gap

There’s a big gap between companies integrating technology to streamline business processes, spark collaboration, and fuel growth both internally and externally and the internal capabilities to execute these tools. For example, there are a variety of CRM tools, inbound marketing tools, link tracking tools, social listening tools, internal communication tools and the list goes on and on. The problem? Most these tools are all integrative and we end up on this never ending hamster wheel constantly trying to figure out which combination will help us be more productive and increase overall margins. The bigger problem? Most internal teams aren’t adept for understanding a vast majority of complicated tech tools and end up ‘throwing them away’ so they can ‘get back to work’.

This is where Service as a Service comes in. Let’s say your business is trying to increase productivity by integrating a CRM tool with an internal project management tool. (ie. Hubspot + Slack or Greenrope + Wrike). The challenges are you’re relying on your team to:

  1. Be able to quickly adjust to new internal company policy, and changes of current habitual communication processes
  2. Relying on individual aptitude for understanding the array of features provided by these tools and to optimize them.

Service as a Service helps companies

  1. Construct a plan of success to meet the company’s goals
  2. Implement the tools that will actually help them achieve their business goals
  3. Train employees how to use these tools effectively
  4. Be ‘on-call’ when there is a problem, and to consult on the nuances of the tech

The key to filling the gap is the expertise of an outsider to understand the ‘nitty gritty’, and recognize when the company isn’t optimizing tools, and will help them get the most value out of the tools they are using.

Automation isn’t always the Answer

Automation is seen in email marketing, social media, prospect nurturing and much more. However automation isn’t always the answer. Before you automate, it’s crucial to understand the in’s and out’s of the manual process. For example, do you remember the Coca-Cola automated tweet campaign during the Superbowl that went horribly awry? Here’s what happened: in an attempt to engage with negative tweeters during the superbowl by automatically retweeting and turning it into #MakeitHappy, Gawker recognized the automation and exploited it.

The lesson to be learned: automation isn’t always the answer. So how does this fit in with the Service as a Service scenario? Simple. Most social media teams aren’t technology experts and most technology experts don’t understand the behavior taken place on social media. Having a middle man that can offer insight into both worlds, could save a company from a campaign that could backfire by understanding all the loopholes and nuances of ‘where it could go wrong’.

Ultimately, if you’re going to spend time investing in technology, make sure to invest in optimizing the process and the people with the expertise as well.

 

Sources

http://www.networkworld.com/article/2293084/software/12-issues-you-need-to-know-about-software-as-a-service.html

http://searchcloudcomputing.techtarget.com/definition/Software-as-a-Service

http://www.computerworld.com/article/2516032/enterprise-applications/5-problems-with-saas-security.html

https://www.rickscloud.com/most-common-problems-with-the-adoption-of-saas-and-how-to-overcome-them/

http://www.businessnewsdaily.com/7838-choosing-crm-software.html

http://www.superoffice.com/blog/crm-software-statistics/

Agile Marketing

Agile methodology is commonly seen in software development and some project management styles. The method is gaining ground in marketing due to the changes that digital channels and new technology are bringing to the table. Agile marketing utilizes real-time data analytics and feedback, empowered teams and collaboration to drive a more responsive marketing strategy. An agile methodology is more than a way to speed up your reaction times to a changing marketing world. The Agile Alliance reports that companies have used agile methods to improve profits by up to 30 percent.

The Agile Manifesto

An agile marketing strategy following the principles of the Agile Manifesto and revolves around being able to react quickly to market disruptions. The biggest priority is to build the plan with change in mind. You don’t solely rely on a plan to guide your team’s actions. You adopt a flexible framework that can accommodate quick project shifts. You’re controlling planned chaos, in a way. You use real-time data analytics and other feedback sources to adjust your marketing efforts to optimize your competitive advantage. Finally, you adopt a strong focus on collaboration among the marketing team and throughout other departments, such as sales and customer service.

Trial and Error in Modern Marketing

Software development uses an agile methodology for iterative and incremental development. In modern marketing, you use this model for the trial-and-error process. You have the resources and support to test out marketing methods and gauge your successes and failures. An example of this, is A/B testing. If you’re developing a campaign, you can use an A/B test to see how the market responds to a variety of combinations of text and images. By using an A/B test you can quickly see how well campaign A is doing as compared to campaign B. Once determined, you can adjust quickly and continue with the stronger campaign to optimize your budget.

This concept of trial and error with agile marketing, enables instant feedback so your marketing can quickly adapt to your audience and deliver marketing messages that resonate with your audience and drive conversions.

How Agile Marketing is the Way of the Future

In traditional marketing, you follow a plan created months in advance. You have little, if any, leeway to change the plan to react to current events or other market disruptions. Your team has set duties without cross-functionality, and the marketing team may lack the ability to collaborate with other departments.

Agile marketing has recently formed the Agile Marketing Manifesto and utilizes collaboration, technology, and flexibility to create a marketing strategy capable of surviving in a world with constant market disruptions. Instead of falling behind on the latest social media trends, you can take advantage with agile marketing and fuel your modern marketing efforts. This new methodology is also known as empirical testing. Empirical means that you have a hypothesis based on observation or actual experiment and then you have tangible results derived through testing. Agile marketing creates opportunity to test marketing intuition and derive empirical results to support or counter those hypothesis. Because Agile marketing shortens the time span between the planning and execution stages, it’s now much easier to adapt on-the-fly and be able to continuously improve campaigns moving towards content personalization.

About Diggen, Inc.

Diggen is a data marketplace to help marketers become and manage data driven enterprises. Data driven marketing initiatives accelerate growth, since it improves key performance indicator (KPI) metrics and increases revenue over 19%. However, marketers have monumental technical challenges accessing data assets, sourcing data providers, and integrating into their marketing technology stack.

Our platform uniquely combines a data marketplace to source all marketing data with middleware to integrate into all marketing technology stacks. For example use our intuitive web interface to append gender, age, location to email addresses and integrate into an email service provider. Therefore, marketers segment their audience for newsletter emails, which creates relevancy, more engagement, and increases conversions.

Crossing the Data Driven Chasm

George Orwell in his book 1984, depicts a society that is overseen by Big Brother. Big Brother in this case, was the government. The Government, utilizing a series of various video monitoring services, were able to control societies every move. Now while 1984 is a tale of fiction, there is some truth to what he wrote. We are entering an era of information overload so companies can create individualized experiences and build one-on-one relationships.  

The Chasm

Chasm, by traditional definition, is a deep fissure in the earth, ie. a canyon, gorge or abyss. In Geoffrey Moore’s book “Crossing The Chasm” he refers to the pivotal moment in which high-tech companies cross the marketing chasm from early adopters to widespread adoption.  

Crossing The Data Chasm

Creating the ToolKit

You wouldn’t cross the grand canyon without the appropriate tools, so why try to develop one-on-one marketing without the proper data sets? Currently on the market, there are various resources that when coupled together get you further to crossing the chasm. For example, pairing implicit data sets from Acxiom with explicit data sets from Keen.io will help you profile your audience while analyzing what they visit most on your website to better understand their interests. However, these sets together, will only get you so far and you’ll probably still fall into the chasm at some point. What this data doesn’t currently do, is offer the ability to import into a SaaS marketing technology like Salesforce, Marketo or Mailchimp, to create individualized profiles. When this can be done, we will be much closer to content personalization and crossing the data driven chasm.

Skills Needed to Cross

Data is useless if marketers don’t understand what it means. If we pack the right tool kit to help us cross the chasm, it won’t mean anything if we can’t figure out where the chasm is that we need to cross. Early adopters that are closer to crossing the chasm are the digital media and technology agencies that are experts in finding the channels, and creating interactive experiences with their audiences. There is a great data divide, however, for smaller businesses to effectively deploy the right toolkits needed to optimize their advertising efforts.

The Data Chasm continues to grow deeper as more data than ever before is being collected through sensors, wearables, tracking and more.The race to cross the chasm has begun, and what we will see happen is the puzzle pieces come together to create the perfect toolkit.  

References:

http://businessvalueexchange.com/blog/2015/07/09/open-data-drives-us-towards-the-information-chasm/

http://exelate.com/resources/news/new-iab-study-reveals-data-divide-early-adopters-leverage-cutting-edge-opportunities-in-marketing-data-but-barriers-remain-to-broader-use-of-new-practices/

https://gigaom.com/2014/05/06/5-technologies-that-will-help-big-data-cross-the-chasm/

What Marketers Need To Know About Diggen

Now, more than ever, a premium has been placed on the ability to effectively gather and utilize information about people for data driven marketing to successfully create more relevancy for customers. This consumer data is comprised of their background, interests, online activity and behavior, jobs, income levels, and lifestyle. So much so, that big corporations routinely spend millions of dollars to collect, manage and monetize their consumer data.

The situation can leave small and mid-size companies with limited resources operating at a distinct disadvantage. But that will no longer be the case now that we have launched Diggen as the one-stop shop for consumer data.

What it means

Our software platform offers marketers of big and small organizations easier and more economical access to consumer data. We limit the disruption to a marketer workflow by integrating into all the popular marketing tools like CRM software, email service providers, content management services, ecommerce platforms, as well as marketing automation, optimization and a/b testing tools. Diggen will in short order, level the playing field for all companies to access the same consumer data capabilities as much larger corporations.

If you are wondering about the name Diggen, it comes in part from the word digital and in part from the word genome, which refers to the complete set of  genes or genetic material information present in a cell or organism.

At the core, that’s what we intend to accomplish with our middleware technology to enable companies seamless access to valuable and comprehensive consumer data, so they can better understand their target audience, improve key performance metrics, and increase overall revenues.

Starting with basic consumer data attributes, such as age, gender, lifestyle, education, and income level, marketers will begin to understand their audience, create more relevant marketing campaigns, and personalize their website and mobile apps to position their brand and appeal to specific groups that make up their target audience.

No developer requirements

As a data agnostic platform, Diggen will make marketing personalization possible for all businesses that would like to customize their messaging and content to target consumers on an individual level. Diggen’s interface really simplifies the management and flow of consumer data between various marketing tools and other data supply sources without any obstacles.

Our platform and business model will reduce the cost of owning data and eliminate a multitude of development, integration and maintenance costs. Diggen will provide the integration work, ongoing support and all necessary maintenance.

Whatever the information source, as the industry’s premier clearinghouse for consumer data, Diggen can eliminate for good, the technical and cost challenges that prevent marketers from leveraging personalized marketing messaging to engage their target demographic.

The service will make it much easier for C-level marketing, technology and privacy executives to leverage new tools, and technology and maintain mandatory compliance initiatives more effectively with impending regulation demands on consumer data. The benefits will be ongoing as we add new features, bring on more data sources and integrate more marketing tools.

Privacy and trust

With such an important role to play, safeguarding consumer data is paramount and we will make privacy and trust the hallmark of our services. With the sensitive nature of consumer data, it needs to be treated differently because everyone benefits from a more transparent, controlled, and authoritative solution. Diggen will take every measure to provide confidence to all stakeholders including consumers, marketers, developers, platforms and data providers.

It will not only be necessary but practical as we move toward our ultimate vision to provide a platform for consumers to control their personal data, while continuing to deliver tremendous value to marketers.

As a company we are not unfamiliar to data challenges and solutions. Our roots were firmly established in local search data developing and refining business listings. Once responsible for setting the standard on the internet for search fields and data listings, we are now hoping to take consumer data to another level with ease of access, more personalization and an alignment of stakeholders.

If you would like to learn more about Diggen and how it can help simplify your access to consumer data, please fill out our contact form.