MarTech Interview with Manu Mathew, CEO at Cohora

Manu Mathew, CEO at Cohora catches up with MarTechSeries in this chat to talk about the latest trends driving B2B marketing:

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Welcome to this MarTech Series chat, Manu, tell us about yourself and more about Cohora.

In the early 2000s, I was working at a prominent advertising agency when I faced a challenge from a client to reduce their customer acquisition cost across channels. The client’s CEO, a former finance expert, wanted a detailed understanding of where, how, and why the company’s media spend was being utilized. This challenge inspired my co-founder and I to launch Visual IQ, where we pioneered the attribution category, allowing marketers to use media and advertising data for a comprehensive performance view. This empowered them to allocate marketing budgets more effectively and demonstrate the impact of their investments. By the time Nielsen acquired Visual IQ in 2017, the company had earned recognition and awards for its groundbreaking work in attribution, serving over 250 clients and employing 325 people globally. Following the acquisition, I took on the role of President of the Americas at Ad-lib.io. During my tenure, I successfully led the company’s entry into the U.S. market and organized go-to-market operations, ultimately leading to a successful acquisition by Smartly.io in 2022.

After departing from Ad-lib/Smartly.io, I reconnected with Sormy Curpen, an old colleague from the Visual IQ days, and together, we formally launched Cohora in January 2023. Cohora enables brands to activate and connect with their customers on a deeper level within a first-party brand-owned customer network that drives greater brand advocacy and behavioral-based loyalty.

What should digital marketers and digital businesses keep in mind for 2024 when reframing customer engagement and customer journey tactics? 

Entering 2024, digital marketers and businesses must pivot towards prioritizing personalization and retention to effectively connect with and keep customers. Today’s customers seek exclusive experiences that reflect an understanding of their unique preferences. The shift demands a departure from generic approaches or simply presenting products largely driven by macro segment assignment or last transaction but requiring a deeper understanding of customers through data-driven insights. While loyalty programs are now commonplace for brands – keep in mind these programs do not measure a customer’s love for the brand or brand advocacy. Loyalty must take on a different approach and lens – actively earned by consistently meeting and exceeding customer expectations. Deep personalization emerges as the key to gaining a competitive edge, attracting new customers, and maintaining this loyalty. Key to enhancing personalization is data – customer provided data AND the voice of the customer. As we move forward, brands embracing these principles are poised to thrive in the evolving digital landscape and will continue to keep their customers happy.

How can modern marketers truly use martech and data best practices to truly drive differential experiences in 2024? How can they especially use AI powered tools (and which) to ease certain processes for better output?

In the coming year, the success of ecommerce hinges on brands mastering the art of leveraging data and technology to tailor customer experience to individual preferences. Mere scrutiny of metrics such as purchase history, browsing patterns, and customer service interactions falls short of providing a comprehensive understanding of customer interests. Brands must not only discern trends across broader segments but also delve into granular data at an individual level.

While third-party data sources, like cookies, only scratch the surface of customer preferences and intent, the key to elevating personalization and customer experience lies in harnessing zero- and first-party data sources. Zero-party data unveils robust insights into customers, spanning demographics, interests, and indicators of product usage. Simultaneously, first-party data encompassing transparent, customer-consented information on preferences and intent, goes beyond the confines of purchase history. As third-party data faces limitations due to deprecation, the significance of zero- and first-party data intensifies. This transparent and consent-based data not only enables brands to offer personalized recommendations and targeted offers but also ensures a deeper connection with each customer.

As brands collect this data, they can get even more value from AI-enabled tools to effortlessly discern patterns and trends that may elude static segmentation. By scrutinizing past behaviors, engagement, dialog and content brands can predict which customers are likely to take specific actions, such as making a purchase, enabling the creation of tailored campaigns that uniquely engage customers, fostering sustained loyalty and repeat business.

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What are the key trends that will command ecommerce / E-tail in 2024 in your view? 

86 percent of consumers care about data privacy, demanding transparency and control over how businesses use their data and 47% of the respondents have switched companies due to poor data policies and practices. And with Google Chrome ending support for third-party cookies this year, advertisers and marketers are going to have to find new data sources to personalize offers, advertisements and so much more. Luckily, some alternatives exist that not only abide by ever-present privacy regulations but allow for even more retention, personalization, and relationship-building, such as zero- and first-party data. To collect this data, many brands are establishing exclusive customer networks. Acting as an extension of a brand’s ecommerce platform, these facilitate the acquisition of crucial zero- and first-party data through interactive polls, surveys, user-generated content such as reviews, and real-time communication via chats. Equipped with this data, brands can craft precisely targeted offers, deliver exclusive content, and devise special promotions tailored to the unique preferences and purchase history of each customer, all at the opportune moment. This heightened level of personalization will create a captivating customer journey, ultimately increasing the likelihood of purchases and propelling customers forward in their journey.

How will B2B marketing as a domain shape up with changing martech features down the line: how do you see this happening? 

The future of B2B marketing within the realm of changing martech features will be characterized by increased data-driven insights, advanced technologies like AI and machine learning, enhanced personalization, and a strong focus on customer experience and compliance.

My top 5 considerations:

1. Artificial Intelligence and Machine Learning:
   • AI and machine learning technologies are becoming integral to martech. B2B marketers will increasingly leverage these technologies for personalization, lead scoring, predictive analytics, and content optimization, enhancing overall campaign effectiveness.
2. Content Personalization:
   • Martech features will likely continue to enhance content personalization capabilities. B2B marketers will be able to deliver more relevant and targeted content based on customer preferences, behavior, and demographic information.
3. Marketing Automation Evolution:
   • Marketing automation platforms will evolve to offer more seamless integrations, enhanced workflow automation, and improved customer journey mapping. This will allow B2B marketers to streamline their processes and deliver more targeted and personalized campaigns.
4. Multichannel Integration:
   • With the proliferation of communication channels, B2B marketing will require better integration across various platforms. Martech tools will likely provide solutions that enable cohesive multichannel strategies, ensuring a unified brand presence and consistent messaging.
5. Customer Experience Focus:
   • B2B marketing will increasingly prioritize customer experience. Martech features will likely center around tools that facilitate better customer engagement, relationship building, and post-purchase support, contributing to customer loyalty and retention.

The on-going challenge to solve for with all the topics above is one that plagues marketers on the B2C and B2B side – fragmented and complicated tech stacks that inhibit their ability to effectively and efficiently solve for the topics above. AI tech, while simplifying productivity will only add to the challenge. Cohora’s approach was to simplify the marketing stack using customer centric approach with data provided and collected by the consumer vs. most brand centric approaches today. This enables effective and efficient use of data and tech.

Can you talk about some of the leading tech brands you feel have a robust online marketing framework that resonates well with end users: what takeaways from those would you leave us with here? 

Top 3 Tech brands:

1. Apple:
   • Takeaway: Apple excels in creating a seamless and visually appealing online experience. Their marketing focuses on storytelling, emphasizing the benefits and emotional aspects of their products.
     • Key takeaway: Take inspiration from Apple’s minimalist design, compelling visuals, and user-centric approach.

2. Google:
   • Takeaway: Google prioritizes user experience and simplicity. Their online marketing is data-driven, leveraging analytics to understand user behavior.
     • Key takeaway: Learn from Google’s emphasis on relevant content, user-friendly interfaces, and the use of targeted advertising based on user intent.

3. Amazon:
   • Takeaway: Amazon’s success lies in personalized recommendations, a frictionless shopping experience, and strategic use of customer reviews.
     • Key takeaway: Embrace the power of personalization, user reviews, and a customer-centric approach. Additionally, focus on optimizing the user journey for ease of navigation and quick decision-making.

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Cohora’s vision is to empower brands to foster a collaborative dialog with their customers using brand owned social communities.

Manu Mathew is CEO at Cohora