Marketing technology platforms risk becoming commodities if they cannot help CMOs deliver experiences that differentiate them from their competitors.
Bijan Bedroud, the chief revenue officer of marketing software provider Emarsys, argues the brands that win are the ones which can leverage the data within their systems to provide personalised interactions with their consumers.
And if they can’t help marketers deliver on that mission, Bedroud says, martech vendors risk becoming irrelevant.
“As a software vendor — whether you work for an Adobe, Oracle, or wherever you may be — unless you are adding value to your customer, who can then add value to their consumer in the B2C or B2B world, then you are a commodity,” Bedroud told Which-50, ahead of the company’s Evolution event in Sydney last week.
Bedroud joined Emarsys in February from Adobe, where he was the Vice President and Managing Director, Northern Europe, Middle East & Africa and took the business from $120 million to $600 million in five years.
Prior to Adobe, Bedroud spent five years at Eloqua, where he was part of the senior leadership team that successfully scaled the business, ultimately leading to an IPO and acquisition by Oracle in 2012 for $957 million.
Since his time with Eloqua in 2008, marketers and the digital marketing ecosystem have matured, Bedroud said. At the same time customer expectations have risen.
“One of the biggest challenges marketeers and CMOs have today is the consumer is getting more powerful, expectations are extremely high and the amount of data sitting in different parts of the business isn’t unified,” Bedroud said.
“If they can get the data into one place you can integrate, unify and leverage that data to create a personalised experience and that’s a differentiator.”
At a product level, Emarsys spends around 25 per cent on its revenue on R&D and is focused on developing AI-powered features to help marketers deliver personalised experiences at scale.
The 16-year-old company is currently in the process of rebuilding its product strategy, which will be unveiled at its Revolution event in London next month.
The product announcements will focus on finding solutions for online retailers – around 80 per cent of Emarsys’ business comes from ecommerce.
“We need to be domain experts. If a customer knows more than us, then we are already a commodity,” Bedroud said.
“We are building our products around their challenges.”
Over the last eight years, Emarsys has achieved a compound annual growth rate of 42 per cent and increased global headcount from 70 to now more than 800 employees.