The Auckland-based consultancy wants to close the gap between the potential of technology and stretched marketing resources by measuring business outcomes via attribution. This enables businesses to optimise the data they already have before building business cases for future investment.
“Attribution is the linchpin of success in marketing transformation,” says Khan. “Without it, we cannot see a true return from the investment. Website Analytics (using cookies) is simply not enough for attributing business outcomes across all the different channels and potential customer touch points anymore.”
And while the adoption of advertising and marketing technology is still relatively low in New Zealand compared to more mature markets like the US, Stitch believes there’s a wealth of opportunity and appetite within the industry for change.
“In the process of helping our clients succeed in marketing transformation we follow three core principles,” Khan says, “Focus on a single customer view and business outcomes via attribution. Emphasise solutions over platforms by stitching together existing data and technology while helping companies culturally transform as well as digitally transform.”
The founders bring in 30 years combined strategic experience, learnt from companies such as Facebook, Microsoft, Initiative Media, Saatchi & Saatchi and Colenso BBDO. Stitch has launched into market with five foundation clients including Turners Automotive Group.
Stitch was born out of a simple but all too familiar reality for many of us: marketers, and business leaders in general, are constantly being asked to juggle an increasing number of balls. We need to achieve more with the same amount of time and resources, and to do this we must learn to work smarter. Technology is key.
While new platforms and technology are intended to offer solutions, the huge influx of vendors hitting the market in recent years (MarTech Today? estimates there has been a 4600 percent increase since 2011) means they often end up creating challenges rather than solving them. Couple this with a fundamental shift in how customers engage with brands – a fragmentation of experiences across devices, browsers, apps and physical experiences – and Stitch believes there is a confluence of change where requirements are outpacing resources.
By focusing on connecting digital activity to offline real-world customer behaviour Stitch believes businesses can reduce their reliance on proxy metrics (e.g. clicks) and build better informed business cases for future platform investments. It’s a cultural transformation of sorts, leading to ?wider s?takeholder buy-in and changing the perceived value of the organisation’s marketing team internally from being a cost-centre to a revenue generator.
For Stitch, it’s not necessarily about disrupting and installing new platforms first-up either. “Our experience is that businesses are only using about a third of the potential of their existing marketing technology and data,” says Wedde. “H?arnessing existing first party data will only become more important as privacy regulations such as GDPR, the California Consumer Privacy Act, and even recent announcements from the ACCC in Australia, place restrictions on unsolicited targeting via third party platforms.”
As Khan observes, ?“the future is less interruption and more integration of services into a consumer’s life with more utility. Businesses are already sitting on a lot of data about their customers, the opportunity is to get this out of silos and stitch it together across platforms to deliver better customer experiences.”
For the Stitch team, their core purpose is to help businesses embrace technology, and “deliver a world-class customer experience that is more globally competitive,” Wedde says.
“Technology and the smart use of data breaks down the tyranny of distance and democratises personalised marketing at scale… Because when it comes to digital customer experiences, the difference between epic and epic fail is technology.”
To find out more about Stitch and how they can help your business unlock growth and better customer experiences with advertising and marketing technology, visit stitchtech.co