The landscape across Martech and Ad Tech has matured rapidly over the last few years. Just 5 years ago the Martech efforts of most companies consisted of nothing more than playing around with email marketing or getting some agency to build some expensive website, while the media guys were dealing with Ad Tech completely separately. There has been a continuous wall between the two worlds of Martech and Ad Tech. Never the twain shall meet. Data-driven marketing was simple, segmented and siloed.
Then, in a relatively short amount of time, we saw an explosion in the availability of data. This forced brands and organisations to think a lot harder about how they were leveraging data and tech for their marketing efforts, and technology vendors were there to meet this freshly generated demand. Vendors globally were soon tantalising prospective clients with the promise of incredible data driven results and digital transformation visions.
But as your mother told you when you were onto your third serving of dessert, you can have too much of a good thing. Organisations today are drowning with the overwhelming amount of technology options available to them; it’s impossible to create strategies capable of leveraging all the unique benefits of these vendors simultaneously.
According to Martech Today, the industry has grown from just 350 vendors in 2011 to 5000 in 2017. With that in mind, it’s understandable that even the best and brightest marketers and businesses are confused about what they should have, while simultaneously missing out on opportunities to leverage what they do have.
The disconnect in the ecosystem
On one side, you have technology vendors focused on building industry-leading products. It’s not really in their interest to understand the complex nuances of every customer’s technology stack and make it work – especially when it consists of competitive products. Their job is to spruik the benefits of their products and to close more deals. Fair enough.
On the other end, there are the agencies and most have done well to embrace digital – indeed, they had to in order to stay relevant. Many, if not most, have done a great job guiding their clients through the digital landscape, but that doesn’t change the fact that agencies are predominantly creatively driven. They don’t have the know-how to give their clients tactical plans on how to do more with data and tech. It’s simply not their field of expertise.
A new breed of agency
The Lumery Founders, Simon O’Day, Ben Fettes and Rajan Kumar, saw this disconnect. Coming from the Martech space, primarily professional services and technology providers, they had all worked closely with large customers to help them get the most out of their Marketing technology.
“Everyone’s gone to the conferences, drunk the Kool-Aid, bought into the dream… Yet, most are still struggling to get past things like manually batch and blasting campaigns every week. Why?” presses Raj.
The team believe that brands have traditionally had limited options to call upon who have real experience in helping leading organisation’s to not only leverage the technology available to them but actually deliver business results.
They assembled to give organisation’s access to a highly specialised, vendor-agnostic agency that is focused on helping them drive business growth activity and build capability around the organisation’s own ‘technology stack’.
“We’re adopting the view that digital leaders want to re-focus on what matters. Let’s look at the teams, let’s dive into the data, identify the revenue-driving opportunities, build an actionable set of tactics and start delivering. The future is important, but there’s opportunity right now.” stressed the founders.
Right time, right offering
The Lumery only set up shop in March, and the team have barely invested a cent in their own marketing activities. But despite that, they already do work with high profile clients from across Australia and Asia, and are even fielding calls of interest from clients in North America.
Simon and Raj put this down to timing and the uniqueness of their offering – marketing technology expertise without the overheads of a consultancy nor the lack of understanding that comes with hiring a digital agency.
“We have been up close and personal with the product,” says Raj.
The guys are continuing to stay close to the leading technology vendors to ensure they are up to date on developments but can also help provide guidance to the vendors on what the local markets actually want and need.
Of their agenda of digital transformation and their intellectual, tech-driven approach, Simon says “we are really just reducing it all down to tactics and strategies that have outcomes; essentially we’re calling BS on the people who are overly focussed on big technology spends, because there is just so much that people don’t do right now with what they already have.”
In a world where suddenly AI is a hot topic, Simon and the team firmly believe that we need to be much more aware of the huge amount of work still to be done with existing technology and business needs.
Ambitious plans for growth
While the team are pleased with their success to date and appreciate the validation they are experiencing from clients – a wealth of nodding heads agreeing that this is exactly what the industry needs – they’re nowhere near satisfied. They have ambitious growth goals and are ready to add headcount.
The Melbourne based Agency will expand into Sydney later this financial year and have already identified the Asian market as their obvious next step. They already work with customers like Jetstar who have an Asian footprint, so it makes sense to get people on the ground locally.
“In the last 2 weeks we have worked in Sydney, Hobart and Tokyo”, Simon advised us during our chat. When you consider the fact that this is in addition to their local work in Melbourne, that the company began in March, and that they’ve managed to achieve all of this without any real marketing activity whatsoever, it is incredibly impressive. It goes to show what can be accomplished if you offer a vision that resonates with everyone lucky enough to hear it.
How to build a culture from the ground up
Simon and Raj are focussed on creating culture rather than only relying on organic growth. They don’t believe culture just happens all on its own… but they do believe their people contribute.
“As a startup, we want people to come into the business who want to invest in deciding what The Lumery stands for. We provide the guard rails and everyone is involved in creating what the business feels like and looks like,” says Raj.
“We also organise a variety of events” advised Raj. “We want to reward the team for good work; reward and recognition is a big focus for us.”
And if their work thus far is anything to go by, you can expect that rewards and recognition are going to play a big part in The Lumery story well into the future.