VIDEO: Breakdown of the July 2022 Gartner Multichannel Marketing Hub MQ and Critical Capabilities Report
Tim Glomb: Welcome one and all. This is our accompanying video for the July 2022 Gartner Multichannel Marketing Hub report, and that includes both the Magic Quadrant and the Critical Capabilities report. I'm joined here by Patrick Tripp, our SVP of Product Marketing at CM Group. Patrick, how you doing?
Patrick Tripp: Good, Tim. Good to be back. Thanks.
Tim Glomb: Thanks for joining this because I think this is an incredibly important session. And I want to go down the agenda, so if you're watching here, this is exactly what this video is going to distill for you in relation to these new reports. First, we're going to define what is the Gartner report, what is the Magic Quadrant and the Critical Capabilities. We're going to talk about the key themes in this overall report because there's over 50 pages, or so, combined. We'll distill it down for you quickly. There's a few stats and findings that I thought were interesting, I want to share. Patrick's going to share the Magic Quadrant results relative to Cheetah Digital. We're also going to talk about the Critical Capabilities details and the findings around Cheetah Digital. And then lastly, we're going to follow- up with a bunch of great client success stories, some collateral you can go and watch, what the CM Group vision is post merger... Cheetah Digital plus CM Group, and our Signals event coming up in October. But let's just get in here, Patrick. First off, for anyone who doesn't know what a Magic Quadrant report is and the Multichannel Marketing Hub report, can you explain that in detail, what these are?
Tim Glomb: Yeah. Magic Quadrant's a long standing methodology from Gartner. Reports of all different industries are published in this way to really show the differentiation between different vendors across categories. This particular segment that we're talking about today is called Multichannel Marketing Hubs or MMH. And there's a definition from Gardner on that, and it's," Digital marketing leaders use Multichannel Marketing Hubs to deliver contextually relevant experiences on complex customer journeys. Unified customer profiles are backed by predictive insights to help orchestrate personalized multichannel engagement." So this is really broken into two reports, as we'll talk about. The Magic Quadrant, which is really focused on the different vendors, the different competitors. And it looks at their ability to compete as well as their completeness of vision, execution versus vision, so really plotting them on two major dimensions. And then the Critical Capabilities report, which we'll talk about a little bit later, is a deep- dive on the specific product functionality within that category.
Tim Glomb: Got it. And it covers a number of different use- cases in this report. Correct?
Patrick Tripp: Yeah. Multichannel Marketing Hubs really, think of that very broad marketing automation technology category. Some of the main use- cases across the board that you'll see include campaign creation, multichannel campaigns, whether that's email, mobile, social. Campaign orchestration, the ability to create journeys and connect all the dots across all the different touchpoints. Execution, the ability to send and deliver, whether it's emails, content offers. And then measurement, the ability to evaluate and analyze the results of all the campaigns. So obviously, they break that down into a lot of detail and there's actually 17 different vendors evaluated across the board in this category.
Tim Glomb: Got it. Well look, what are the key findings from these reports? Where do you want to start?
Patrick Tripp: Well I'll start with just the broader lens here, 17 vendors. You got vendors like Acoustic, Adobe, Cheetah Digital. And we'll talk about this a bit. Cheetah Digital submitted in March of 2022, and we weren't able to include CM Group, we were still in the middle of the closing of that deal that happened back in the spring... We did mention and we do get mentioned up around the CM Group a little bit throughout the research, but it is predominantly Cheetah Digital. Other vendors like Emarsys and Interval and Oracle, and Pega and others, but we broke it down in those two major categories. But here are some of the major findings from the research overall. And first is, Multichannel Marketing Hubs are our core technology. It's very mature. If you think about the maturity curve of marketing technology, multichannel marketing engagement has been around for a while and it's really innovated. I think the next big theme is mobile. You'll hear that a lot from all the vendors in this analysis, including Cheetah, our emphasis on mobile push, mobile engagement, SMS, MMS, even mobile wallet. All these areas are crucial and continue to be for many vendors. 10 out of the 17 vendors in the research have CDPs, so the data layer. The data management aspect of it, a single view of the customer is a big part of what we talk about at Cheetah, but also is becoming more and more the case as we look at the other vendors. AI machine learning, still top of mind for Gartner, still top of mind for marketers overall. I would argue that there's still some room for improvement here across vendors and marketers alike, but still a major category. And all these vendors, they provide a whole solution. It's not just the product. There is best practices, there's industry expertise, there is services. Really, a well defined product roadmap to round this all out. So that's really, I think some of the macro findings, as you think about some trends across all the vendors.
Tim Glomb: Yeah, this is great. And I love this because this aligns with our Signal series this October, where we're going to be covering a lot of this. CDPs, the core value of CDP plus, mobile and services. So I found a few stats inside of both of these reports, I thought were interesting, I wanted to share. In fact, two thirds, 66% of end users cite revenue growth as the leading measurable benefit that their organization has achieved using its Multichannel Marketing Hub solution. So that's implying that technology is core to both the marketing organization and the company as a whole. I thought that was a really good one. And then also, marketers stated that from May, 2021, through March, 2022, Gartner inquiry volumes around Multichannel Marketing Hubs rose 39%. So I think that underscores that marketers are continuing that urgency to implement, to stabilize, to optimize the essential platform that they need. 60% of marketing leaders cite the delivery of effective customer journeys across digital and non- digital channels as their most urgent challenge. I know that has been a core focus for us and capability here at Cheetah, and I know you're going to talk about that a little bit later. But lastly, only 17% are deploying AI and ML widely to support a variety of marketing functions. As you just mentioned, room for improvement there. And sorry, there is one last one... 59% of marketers said they prefer to rely primarily on a single vendor with multiple interconnected capabilities to meet their needs. And that's exactly why we built the Cheetah Digital platform the way we did. So those were cool stats I thought were worth mentioning. But outside of that, let's break it down. How did Cheetah actually do in the Magic Quadrant report?
Patrick Tripp: Yeah, so let's get into it. So Magic Quadrant, we're trying to help you navigate through 47 pages of research here and multiple vendors. But ultimately, Cheetah Digital did show up again as a challenger in the Magic Quadrant. That is the top left box, the two- by- two diagram. I really view this to be a differentiating place for Cheetah Digital and as CM Group comes into the fold. We're the best alternative, we're the Uncola. We're the best approach from those tired monolithic marketing clouds in the top right that you see, is in the niche point providers in the bottom left. Those real niche, small, one- trick- ponies. We really are the best of both worlds, but we are a challenger in this. We did receive a writeup that calls out our customer engagement suite, talks about our platform, our messaging experiences, loyalty and personalization solutions. But it does emphasize a big change, and that is something that we're going into market calling relationship marketing. And that's going to be our new focus in 2022 and beyond, more on maturity of use- cases for marketers that include capabilities and services and best practices across verticals to really help them be successful. So that's acknowledged there and that was great. They also talk about the merger in the writeup, the merger with CM Group, that that was completed at the end of February, 2022. We've talked about timing is sometimes everything. And it just, we were still in the final, final stages of the merger closing, so we weren't able to go forward with the entire CM Group presentation.
Tim Glomb: Yeah, I know that was frustrating for you and your team to be under a gag order with some legality, not being able to share the larger vision. But the great news is we are going to share that and we'll touch on that a little later, so thanks for bringing that one up.
Patrick Tripp: Yeah. Something from a macro view, most of the vendors stayed flat or moved down a little bit. A couple exceptions, a few movements, a few key leaders actually came out as well and you can see that in the report. But a couple of the strengths for Cheetah Digital, which I'm really proud of are one, event triggered marketing. Those real- time moments where you can trigger an event and you can respond with the right offer and the right content. We scored the highest across all vendors, across all categories in event triggers. Real- time personalization, the ability to provide content and offers and capture content from web or streaming data from web and mobile channels. Very strong for Cheetah Digital. And improved UI, UX. We get a lot of good feedback around our journey designer solution. That ability to create those interactive journeys, whether it's through templates or through self- service, gotten a lot of good credit there. On the caution side, there's some commentary about the merger that we talked about and the fact that it seemed unclear. And I think we'll have a great opportunity to really hit that home as we get into signals this fall, as we really start to talk about our strategy more.
Tim Glomb: Absolutely. And then to distill that down into 30 seconds here, I mean the idea is CM Group now is incredibly strong, home for every marketer. I don't care if you're a small- medium sized business, commercial or an enterprise, from Tony's local pizza place to Starbucks, American Airlines, global brands. A: a client inside the CM Group is going to benefit from combined technology. But B: depending on where you are in the stage of your business and lifecycle, we do have a product for every single marketer and we're one- stop- shop. If you need to move up, you need to add capabilities, you're able to do that. And some of the smaller brands are able to benefit from the great technology we're building in conjunction with partners like Starbucks. Recent interview, they shared how much we listen to them and create these solutions that help them in a global scale. Now, all the other brands that are doing business across the CM umbrella will benefit from that technology. So huge story to be had. Can't wait to tell that story in depth at Signals in October of this year.
Patrick Tripp: Absolutely. And it's gone from a home for every marketer to even more of a relationship marketing strategy across the entire lifecycle, from acquisition to retention. So that's big for us.
Tim Glomb: How about in industries? How do we... They mentioned some industries.
Patrick Tripp: There's some talk about retail. I think we presented some of our marque retail customers and we have a lot of great examples there. We do, as you may know, support major verticals like financial services, insurance, QSR, quick serve restaurant, media and entertainment. A number of other industries so it's not just retail. So that's a little bit maybe reflective of some of the content we shared, but we really run across the board, including CM Group.
Tim Glomb: And you nailed it there. I mean, I think of anybody... I've traveled the world, talking to these clients in all industries. In fact, at the end of this video, I'm going to put up a QR code where you can go see well over 100 different videos in different industries. American Airlines to Bloomin' Brands, a giant restaurant organization, to everything in between. We have a FinServ webinar that just launched. So we are and have been incredibly strong in other industries. So I appreciate you pointing that out because we have content for you, no matter your industry, go check it out. At the end of this video, you'll see a QR code. What else did they mention?
Patrick Tripp: Mobile. I think mobile's a topic that all vendors are really trying to improve their capabilities in. And of course, that's a partner ecosystem play. You need to have great partners in place for those gateways. Nobody's doing that natively, but we are doing a lot of work here on the MMS/ SMS side. Rich media is something we do now, very well, within Cheetah. And other brands within the CM Group have also announced on real big innovations earlier this year as well, whether it's Sailthru or Campaign Monitor and others. So I feel like we're really moving really in the right direction with mobile on that front.
Tim Glomb: Excellent. All right. Well look, that's the Magic Quadrant distilled down. Thank you for taking a few minutes talking about Cheetah's mentions in there. Let's talk about the Critical Capabilities report because many people watching probably already downloaded that from our website, and if you haven't, please go there and get it. It's free. We're making it available to you. But Patrick, can you tell us what exactly is the Critical Capabilities report, how does it differentiate from the Magic Quadrant and then go into how did Cheetah do in that?
Tim Glomb: Yeah, absolutely. Great. Critical Capabilities, another really dense report. 41 pages, and it's to go even a step deeper. So we just talked about, at a high level, the competitive landscape and how things are shaking out. We're a challenger but then it's understanding behind the magic of the Magic Quadrant, what are those capabilities that are actually supporting that and what are the details and how do vendors score in that area. And I can tell you that we're doing really, really well in event triggers and campaign orchestration and campaign management. Those are real strong areas for Cheetah Digital. But they break it down in these categories... profile management. That's, ability to create that single- view. Zero- party, first- party data, bring it together right. Even incorporate other data sources, different data types. Workflow. That workflow for a marketer, from a simple UI, be able to manage campaigns, but also build journeys right and connect all the dots. Event triggering as I talked about, it's about waiting for a moment. And that moment could be a purchase, it could be a click, it could be a hover, it could be download, it could be a purchase. And really, ensuring you define through rules or through machine learning, what are the different ways that you can respond to consumers in those moments. Personalization is getting deeper about the who and their profile and what their interests are, and how to treat them in the right way and how to provide them with the right offer or the next best action. And those can be driven by rules or machine learning. I know there's some of the research showed that marketers are still not there. And from the Cheetah side, we provide tools, we call it citizen data scientist. Which is honestly, it's a Gartner term that we borrowed, making it super simple for marketers to go in and be able to create their own models and deploy them like a cluster model, for example. Channels... Channels, a big part of it. I got email, social, mobile, direct mail. Offline channels well, point of sale integrations are all key, important. Decisioning is really big and we do that natively with our customers through email or through other channels. But the ability to arbitrate across all the different offers that you might be eligible for. Whether you're a Williams Sonoma or you're a Starbucks or a number of other customers that are doing this, being able to do that at scale can really print money and drive revenue. Marketing analytics is reporting. Being able to visualize all the attribution and the disposition and dashboards to monitor success. But there's a potpourri of other things that they break down in there, including journey analytics, which we do by the way. And that's something we do, we can simulate. We can also look at, in the flows of a journey, the different data points and who's flowing through and the percentages there. Predictive modeling, which is more on the ML side, in attribution and in integrations as well, which is a big focus for us as well. So those are all the different technology categories that are broken down into the MQ and the Critical Capabilities.
Tim Glomb: I love this because all of those categories align very closely with our view of relationship marketing, which again, we're going to go into deep detail at Signals in October. But for right now, distill it down so they don't have to go through 41 pages, how did Cheetah show up in this Critical Capabilities report?
Tim Glomb: Yeah. I think we're strong, we're a challenger, we're right in the middle of the pack there. But we score really well on all the major use- cases that I talked about in the capabilities sets. Again, event triggering is the number one. We're the number one across all the different vendors on that particular category, so it's great. And that is a complex thing that is a hard problem to solve. It's not just card abandonment. There's a lot of other ways you can trigger something to somebody. So areas like workflow, event triggers, personalization as we talked about, so important, and then the marketing analytics side, major improvements for us in those areas. Our scores are up in the threes and fours, so really good in those areas. And a couple key points to call out. There is a writeup as well in the Critical Capabilities. And actually, they nailed that pretty well. They do a good job of really describing relationship marketing and what that is and how we're pivoting, and our strategies there. It also calls out the fact that we've simplified our pricing. We've really created simple bundles to make it easy for you to buy and really understand and drive more value out of our solutions. Talked about event triggered marketing, and the highest use- case for campaign creation as well. That brings in content as well as rules and decisions to help source that. So we're up in certain areas. We are up in the campaign execution and campaign content creation areas year- over- year, but right there in the pack overall. So it's a pretty strong report.
Tim Glomb: All right. So look, let's distill this down. Let's put a little marketing right here. What do you think is the overall message that's coming out when it regards to Cheetah Digital? How would you distill this into a couple of bullet points?
Patrick Tripp: Yeah, sure. Let's summarize this. We are the Uncola. We are the best alternative to those tired of monolithic marketing clouds and those niche point providers on the bottom left. We really are a modern alternative that can provide all the different capabilities, whether that's data analytics, reporting, execution, orchestration. Second, I would say relationship marketing is the future for marketers and for our company. As we think about use- cases in more progressive maturity opportunities for our customers to take advantage of our platform, to do more cool and innovative things. Third one, it's all about real- time events. We can trigger events in real- time, better than any other vendor out there. And we've proven that, and it's really going beyond the traditional SQL based data processing to more of a real- time environment. And that allows us to do great personalization. And as Tim has said in multiple interviews across the globe with our customers, about their ability to personalize and understand their customer and deliver a value exchange. I think ultimately, personalization is delivering on that through what we do. And then journey and journey orchestration as well. That's another big one that we're doing really well in, and it's an easier experience for marketers to really get going with our products. I think I'm excited about everything that's happening. The future's bright for us and I think we're starting to shed our skin of our traditional Cheetah Digital customer engagement suite and focusing on a broader, more bolder portfolio offering.
Tim Glomb: Yeah, I totally agree. These are exciting times here at Cheetah and the greater CM Group. So we're happy that you came, you watched the video. Hopefully you're looking at these assets that were just published by Gartner. And look, I have a few takeaways for you. Number one, if you want to learn what relationship marketing is and how it really is the end- to- end customer life- cycle that you need to adopt, there's a series of great blogs that Patrick and his team have published at Cheetah Digital under the resources tab blog. There's a slew of them. So number one, go look at those. There's a QR code right here you could use if you want to get to those. Secondly, go look at our library of content. I don't care what industry you're in, I don't care what problem you have, we most likely have a piece of content bringing a client's voice to life on how they're overcoming that with our platform, with our technology and some of the great results. Here's a QR code here that will get to a long list of those videos. And lastly, Signals. This is our great virtual event. Because of the pandemic, we went all virtual three years ago. This is our third year. October is the month of Signals. Everything you just saw and heard in the Magic Quadrant, we're going to go in deep. We're going to go with analysts, we're going to go with clients, we're going to go with experts, our own in- house product teams. We're going to uncover all of these great capabilities, we're going to look at the headaches marketers have today and how that entire relationship marketing strategy, if adopted, will really minimize your issues and bring you to moments that matter and real- time engagement with your consumers and your customers alike. So I'm excited. Patrick, anything else to close out here on?
Patrick Tripp: No. Exciting times here. A lot more to come from us. Use- case is another great place on cheetahdigital. com. A whole new inflection of how we talk about the value in video and content that actually describes what we do in action. So another great place to go.
Tim Glomb: That's a great point. I just put that QR code up for that. That's another place. The eight most common use- cases in relationship marketing as helped defined with some of our best clients, the Starbucks of the world. And you're going to love it. So another great video series there as well. So Patrick, I appreciate you doing this. I hope everybody found it informative, now you know what the Magic Quadrant's all about. And give us a call. We'd love to talk to you if you want to talk about any of these capabilities or dig into our solutions.
Patrick Tripp: Awesome. Thank you.
Tim Glomb: All right. See you next time.
We’re proud to announce that Cheetah Digital scored a 4/5 in the Event Triggering Critical Capability in the July 2022 Gartner Critical Capabilities for Multichannel Marketing Hubs. We believe that this is a powerful step forward in our work toward building technology that bridges the gap between data and contextual engagement, and ensures that marketers can easily and fluidly understand their customers, activate insights, and deliver personalized experiences across all channels in touch points, in real-time.
We breakdown this report in our video. Hope this helps.