Today’s interview is with Jonathan Lacoste (co-founder and President) and Ben Cockerell (VP of Marketing) at Jebbit, the creator of the world’s first declared data platform. Jebbit are focused on doing two things: One, giving customers back control of the data that they share around their motivations, interests and buying intentions and, two, helping brands connect with these customers through the creation of visually appealing, mobile content experiences. Jonathan and Ben join me today to talk about the main challenges facing firms right now when it comes to mobile marketing, consumer data, GDPR, compliance, trust, what a Declared Data Platform is, how it can help, how it differs from other applications and what sort of things should leaders and marketers be thinking about right now.
This interview follows on from my recent interview – Striving for excellence has never been more important – Interview with Tom Peters – and is number 260 in the series of interviews with authors and business leaders that are doing great things, providing valuable insights, helping businesses innovate and delivering great service and experience to both their customers and their employees.
Highlights from my conversation with Jonathan and Ben:
- Over the past 4-5 years, the team at Jebbit have developed, what they call, the world’s first declared data platform.
- The big problems that they are addressing for their clients are how they can solve the challenge of mobile conversion, how to put mobile-first content in front of their audiences and how to collect and use the most valuable first party data in a more transparent and explicit way.
- One of the big challenges that Chief Marketing Officers and Chief Digital Officers of Fortune 500 companies are facing right now is…. how do they create contextually relevant content and put it out at scale on a consistent basis, particularly when we consider how consumers use their phones.
- Companies actually have more data that they know what to do with and the vast amounts of data they’re sitting on is actually causing a ton of complexities.
- Given the capabilities of much of the available technology, many companies are collecting and capturing way more data than they need.
- The challenge for companies is figuring out what is the most important data, what data do they already have and how do they thoughtfully and efficiently use that data to have a better relationship and conversation with their customer.
- Many senior marketing executives, given the option, would remove their entire database and start over again.
- Brands should focus on the three or four data points that they need and go way beyond the standard transactional or behavioural data and move into more psychographic data: ‘The why behind the buy’ and what really motivates a consumer.
- We’re encouraging brands to have a overarching strategy that allows them and their audiences to update the information that is held on them.
- There’s a reason that brands have been collecting so much data. The risk mitigation for them was that it was riskier not to collect more data than to collect it because they never knew what or how it could be applied.
- That is now changing with GDPR and it’s becoming riskier to collect data and not do anything with it.
- Marketers don’t need to have 100 data points on a consumer to have a more personalized conversation with them.
- Brands need to take a step back and think about what are the most important data points they really need.
- Forrester put out some research last year about, what they are calling, the ‘privacy versus personalization paradox, where 75 percent of consumers expect a personalised experience but 49 percent have privacy and data protection concerns. Those numbers are rising year on year.
- Jebbit are focused on creating a quality of data at scale not quantity for nothing.
- When that data is being activated by brands they are seeing a huge lift in brand affinity because they’re providing more contextually relevant experiences to the consumer. That, in turn, is increasing the lifetime value of that consumer for the brand.
- Boden in the UK is following this declared data approach and, on average, they’re seeing a 33-34 percent increase in their cart size and around a 52- 53 percent higher conversion rate.
- Cathay Pacific is taking a different declared data approach and is focusing on the longer term and being a ‘travel partner’ to their customers.
- Jebbit’s advice to marketers:
- Step out of the day to day thinking about what you currently have whether it’s in terms of content or data and ask yourselves the very simple question: If I had to rank the most important things to know about my customer what would that be?
- Hint: imagine yourself having a coffee conversation with your customer for five minutes. What are the things you would want to know about them whether you’re a B2B brand taking to a prospect or you are a large consumer brand?
- At its most simplistic, marketers and executives need to start thinking about the most important data they need and how to actually collect and use that data.
- We are moving towards a time where proximity to the customer is the most important determinant of success. Therefore, why would you outsource that? Do you want to rent the relationship you have with your customer or own it?
- Check out Jebbit’s Declared Data Platform.
About Jonathan and Ben
Jonathan Lacoste is an award-winning entrepreneur. Jonathan is the co-founder and President of Jebbit, the world’s first declared data platform, which he co-founded as an undergraduate student at Boston College. Since launching the company, Jonathan has been named to Forbes’ 30 Under 30 and Direct Marketing News 40 Under 40, was the Emerging Executive of the Year in the state of Massachusetts, and is considered the youngest entrepreneur to raise venture capital, at age 19. In his off hours, Jonathan is an avid marathoner, having run 17 to date.
Ben Cockerell is the Vice President of Marketing for Jebbit, where he leads a team focused on helping brands understand and unlock the marketing potential of mobile experiences powered by first party data. Prior to joining Jebbit, he was the Global Director of Marketing for Crimson Hexagon, the world’s leading social analytics platform, and previously a Product Marketing Manager for Hootsuite, a social media management platform. In his infinite spare time, Ben enjoys spending time with his wife and three year old daughter, which, currently, means playing a lot of Peppa Pig.
Thanks to Pixabay for the image.