With over 10 years of experience in the Financial Services sector Euromoney’s Marketing Director, Carlos Doughty, is one of the best people in the business to talk to about omnichannel optimization.
Using data to bridge the gap between online and offline experiences can be daunting for even the most hardened marketing veterans. Carlos has successfully embraced this process, and we had the chance to catch up with him at our Bright Sparks 2016 event.
Our theme for the morning was ‘defying tomorrow’s expectations’, so it was also a great opportunity to look at Euromoney’s digital journey and what their future looks like in terms of personalization.
So, tell us about Euromoney and what you do?
Euromoney offers a range of different products for financial institutions, large corporations, energy companies and beyond.
The changing space of marketing has meant there’s been a large investment in changing our approach to marketing — specifically around digital.
What are the sorts of digital investments you’ve been making?
We have been making quite a lot of investments within search, website development, content development, in outreach, social media, marketing, every kind of avenue you can think of to showcase our different product offering. For Euromoney, it’s key to find new ways to acquire prospective customers, whilst engaging with our existing audience.
This means moving away from an outbound approach, towards a focused inbound one, from restructuring the team and how they’re focused, to the capabilities people have, to the investment in channels, which is what led us to a product like Qubit.
The ‘gap in our stack’ was in testing and optimization.
And that’s where Qubit came in?
Exactly, other providers would offer an analytical module, or personalization or another would offer testing, but there wasn’t one that encompassed everything. So that’s what made Qubit the most attractive proposition when we were first looking at providers.
It’s a very intuitive platform. One of my biggest incentives for my team is empowering people and allowing them to hit the ground running. We want people to have the tools that allow them to make things happen and run a campaign from beginning to end.
Qubit provides that level of autonomy and speed, it lets us be incredibly agile with how we work.
What results have you seen?
We’ve been able to drive uplift in terms of lead generation of around 79%.
Wow what an uplift!
Yes, it has been incredibly powerful.
Qubit is helping us optimize and find the killer way to tap into our audience, speak to them in a way that jumps out of the page and makes the content highly relevant.
Beyond that, from a personalization perspective it’s been great. One of the challenges we often have is making the large variety of products relevant to a range of different users.
And how have you found working with Qubit as a team?
The account management team have been brilliant. They’re accessible, friendly and very personable. I think it’s that personal feel that allows you to come to a fantastic solution!
It sounds like you have made a lot of progress regarding the implementation of the platform. What were Euromoney’s specific goals concerning personalization?
We wanted to take the user journey, look at their behavioral activity, understand their interest in certain product types and consequently classify them with a topic area of specific interest.
Alongside that, we also wanted to look at the demographic information and join those two together to say, actually we’ve got a specific product we think will be highly relevant.
And where has this worked best for you?
Well let's look at our offerings in the Middle East. We can instantly identify a user coming from Saudi Arabia, and what product type they will be looking at. Using this information we can do one of two things: test launch a brand-new product and offer it to them instantly to get quick feedback from the market, or we can make sure that one of our 500 different products comes to the top.
With this type of personalization, how does your business embrace it, what is the bigger picture?
One of the biggest challenges has always been data silos. This is everyone’s problem, particularly when integrating offline and online data to create richer digital experiences we are after.
Within Euromoney Group there are a range of different businesses. In order to take a personalized approach to such a wide range of customers, we needed to be able to draw on the web of interactions throughout these touch points. Doing this means we now have a rich history of information at our disposal that we can transfer to the online experience.
Ultimately it is perfecting the method of bringing this mass of data together and doing something intelligent with it. The key is merging online and offline data without giving off a ‘Big Brother’ effect!
We could not agree more - it has been brilliant catching up with you Carlos, thank you for your time.