The global martech industry is projected to be worth over $120 billion in 2020, with $70 billion attributed to the UK and North America alone.
One of the primary reasons that businesses seek out and implement new martech solutions is to streamline operations across a variety of marketing initiatives including email, content, social media marketing, CRM, and analytics.
Tools to facilitate and enable experience optimization, marketing automation and tracking are also growing in popularity. This is where Allocadia fits in.
Some of Allocadia’s staff in action—source: Allocadia
Headquartered in Vancouver, BC, Allocadia is a marketing performance management (MPM) platform with over 14,000 global customers across a variety of sectors. Clients include Microsoft, Land O’Lakes, Unilever, Charles Schwab, Hitachi Vantara, and GE Healthcare.
A sample of Allocadia’s current customers
Founded in 2010 by twin sisters Kristine and Katherine Steuart, Allocadia has over 100 employees around the world. The sisters, both marketers, recognized a need for a single streamlined platform to keep their budgets, projects, and goals in one intuitive place.
They built the prototype for Allocadia in the early 2000s and shared it with industry leaders and potential customers at trade shows.
Allocadia received its first round of $1 million in seed funding in January 2013. In June 2014, they received $7 million in Series A financing. By December 2015, they received another $16.5 million in Series B financing.
Allocadia serves mid-market to enterprise businesses, as demonstrated by the sampling of clients shown above. Their MPM platform is cloud-based and available at three price points depending on the level of management required.
Plans start at $75 per user per month for cloud-based marketing plan development. Companies that want to add plan execution and optimization to the mix will pay $125 to $150 per user per month. Plans are billed on an annual basis (due in advance) with a $10,000 minimum subscription requirement.
Marketing performance management platforms enable companies to plan, gain insights, and optimize multiple marketing campaigns and programs from one central location.
Per Gartner, “At the foundational level, MPM includes a data repository, BI tools and analytical workbenches. At the strategic level, MPM provides role-based access to information and KPIs through dashboards, visualization, point-and-click analysis, modeling, simulation and optimization.”
A core functionality of MPM systems like Allocadia is that they integrate with the wide variety of software that resides within their customers’ tech stacks.
Allocadia’s platform integrates within the following technology categories:
MPM platforms like Allocadia seek to replace spreadsheets as the primary tool for planning and investing in marketing initiatives. They enable collaboration across multiple teams in a single organization by combining data from a variety of sources and streamlining reporting.
An example of Allocadia’s reporting dashboard
One of the benefits of using a cloud-based MPM tool like Allocadia that has multiple integrations built in, is the ease of connecting the tool with your existing tech stack.
Per Allocadia CEO, Kristine Steuart, “Today’s marketers are faced with hundreds of different platforms, channels, and tactics to help them connect their business with customers, but it takes insights into both investments and results to identify the techniques that best align with their strategic objectives.”
Allocadia seamlessly integrates with other core operational platforms in a company’s technology stack to ensure top-down marketing plans are well documented and clearly communicated across the organization.
The tool also provides visibility into how the marketing team’s actions align with a business’s strategic objectives and provides instant access to global spend status while delivering real-time marketing ROI data.
After implementing the platform, Allocadia customers can begin seeing results within thirty days. There is typically a three-step process to onboarding as follows:
Allocadia prioritizes security and takes privacy and customer data assets seriously. The company uses practices that were designed for banks to defend cash and assets, undergoing regular third-party audits including SSAE18 SOC2 Type II, Third Party Penetration Test, BitSight ISO 27001 Assessment, BitSight NIST Assessment, SOC 2, ISO 9001, ISO 27001, ISO 27017, and ISO 27018.
Companies work with Allocadia so they can gain centralized, consolidated access to their marketing plans and budgets. They benefit from the ability to easily track and measure marketing’s alignment to company and departmental objectives.
Here are several concrete examples of companies that benefited after platform implementation:
Says Steuart, “Our overarching goal continues to be the same – bringing confidence to every marketer around the world.”
The core issues facing marketers today include the inability to efficiently manage spend, monitor ROI in a meaningful way, assess the growing influx of data from multiple sources, and accurately determine which tactics drive the highest return.
As a result of these issues, marketing organizations are becoming more misaligned. As teams scale into ever more channels and groups, marketing data and insights grow even more siloed. This can lead to marketing investments which are misaligned to corporate goals, sales, finance and executive leadership.
“Allocadia has an ongoing roadmap to create new ways that help our customers drive more impact for their businesses,” explains Steuart. “We have a continuous cycle of releases to ensure our customers always have the most up-to-date platform capabilities available.”
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