Voices of the Engagement Economy: Jennifer Dominiquini, Chief Marketing and Digital Sales Officer, BBVA Compass
In addition to being responsible for all the traditional marketing functions, Jennifer is also responsible for digital sales, analytics, and online account origination.
In this discussion, Jennifer talks about the obstacles in the Engagement Economy, how she utilizes partner strategy, and the secret behind good marketing.
Q: What is most important when it comes to the Engagement Economy?
I definitely agree with the concept of Engagement Economy, especially from the standpoint of marketing being a big ecosystem that has so many different touchpoints. Some of these touchpoints my team and I own, but not all of them. Thus, the way we approach delivering consistent messages across all the relevant touchpoints is critical. In the past, marketing mainly focused on the right message at the right time. Now marketing is more about engaging with clients in the right way, the right place, and the right time. You cannot completely take the human connection out, otherwise, you’ve lost your customer. Engagement needs to be on a personal level.
Q: What obstacles exist in the Engagement Economy?
Sometimes companies work too fast for their clients. They are pushing the same technology to too many people. Instead, they need segmentation because they can’t thrive on a one-size-fits-all model. Many organizations are caught up in whether a project was finished and what was accomplished, so they can move onto the next step. Good marketing requires an ongoing approach where you’re doing something over and over to get better. I think hotels like the Ritz Carlton do a really good job with the concept of humans servicing humans. Marketing keeps wanting to integrate more technology into the engagement model.
Q: How do you utilize partner strategy in your organization?
We have a number of great brand partnerships, such as being an official sponsor of the NBA and obtaining naming rights to a soccer stadium in Houston. With these partnerships, we need to make sure we’re leveraging each other’s assets because this is a way for us to have an influence across more touchpoints. Additionally, we have a number of installed-base branches that we would like our customers to think of as places they want to visit. One approach is to explore other services to bring to the branches that customers care about, so we can engage with them in more relevant ways. For example, we’re testing Amazon Locker at our branches as a way to bring in outside brands that offer new experiences for our customers.
Q: What’s the secret behind good marketing?
One of the challenges I have faced when trying to engage clients across all the different touchpoints is convincing organizations that content is king. However, we also need to measurably drive tangible results, so we can have the points on the board in order to make things happen. This is not a once and done type of project. It calls for continual investments and a holistic way of thinking. Many organizations are caught up in whether a project was finished and what was accomplished, so they can move onto the next step. Good marketing requires an ongoing approach where you’re doing something over and over to get better.