Building an effective marketing technology stack has been a challenge for marketers since we began using technology to improve our efforts. With more than 8,000 solutions to choose from, deciding on the right ones to invest in can be tricky. The benefits have to justify the investment, especially in the current environment that calls for more responsive marketing. Further compounding the issue is the struggle to fully realize the value as marketing leaders report utilizing only 58% of their MarTech stack’s potential.
To explore the business benefits of our Activate solution—a monitoring platform that provides behavioral data and insights on in-market consumer activity—we commissioned Forrester Consulting to conduct a Total Economic Impact (TEI) study. The study found that companies using Activate can expect to see benefits of $2.7M and a 191% ROI over 3 years.
Prior to using Activate, the customers interviewed in the study struggled to retain their consumers for subsequent adjacent purchases. They also faced challenges on the customer acquisition front, as purchased and monitored prospect lists lacked the information required to reach these consumers at the moment of need.
Unlocking the Benefits of Behavioral Insights
Jornaya Activate provides the earliest indicators of buyer intent for major-life purchase (MLP) marketers in automotive, education, insurance, and mortgage. This behavioral data helps marketers make real-time decisions about consumer intent. Having the agility to time and tailor interactions based on recent behaviors and intent leads to engagement at the right time, with a relevant message, while respecting privacy. Behavioral data helps marketers with:
- Prioritization: The right data will provide a broad view of the ideal customer and you can engage with them at the ideal place and time. Having a rich understanding of what data is available within (and from outside of) your organization, and what data is needed, is critical.
- Personalization: Leveraging behavioral data will improve customer experience by informing marketers of the type of content and messaging to use in outreach.
- Performance: Focusing on individual consumers rather than mass segmentation helps marketers send recommendations that drive purchases.
Improving Campaign Strategies
At Jornaya, we’re providing these insights to help marketers better understand performance based on consumer engagement. We know that every consumer is different and should be treated as such. Activate customers have access to our engagement dashboard, which allowing them to:
- Determine the engagement performance of campaigns and how those engagement rates vary based upon your customers’ in-market activity.
- Identify who the most and least engaged consumer segments are to help refine marketing approaches.
- Understand and iterate the approach based on consumers’ in-market activity and their engagement levels with the outreach.
After working insights from Activate into their customer and prospect databases, Activate customers interviewed in the TEI study expressed optimism in their ability to tailor customer communication and marketing campaigns to specific milestones in the customer journey. One Interviewed customer told Forrester: “Working with Jornaya has overwhelmingly made us smarter about our customers. It has given us insights into things we weren’t looking at before.”
Easy System Integration
Activate data integrates easily into existing MarTech stacks through our Integrations Hub. This allows marketers to automate daily access to Jornaya’s data directly within their CRM, CDP, ESP, dialer, or any marketing execution platform desired. Activate integrates with over 100 CRM and marketing platforms including Salesforce, Eloqua, Marketo, HubSpot, Velocify, and many others.
Interviewees in the TEI study described a brief initial implementation process for Activate. One interviewee described the implementation experience: “Implementation was very straightforward, very easy. Jornaya worked with our third-party vendor who handles our e-mail solution as well.”
Overall, the TEI study found that after implementing Activate, companies increased customer engagement, established more productive marketing functions, consistently closed more new business, and improved retention. Learn more about the key findings by downloading the study.