Choose Your Adventure: Data-Driven Storytelling
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Transcript of Choose Your Adventure: Data-Driven Storytelling
CHOOSE YOUR ADVENTURE 01
Data-Driven Storytelling
By WealthEngine
1
Intro
While you’ve been on missions like this many times before,
the landscape is changing dramatically. There is an evolution
taking place at this very moment, transforming traditional creative-
driven CMOs and their analytics-motivated counter-parts into more
hybrid roles. Hiring decisions are being driven by the need to fill
the gaps with practitioners who can evolve with ever-changing
requirements. With the rise of data as a strategic asset more
marketers are realizing that creative storytelling is not enough and
that data ultimately help shape the trajectory of these stories.
STORYTELLING MATTERS MORE THAN EVER BEFORE.
Storytelling isn’t dead, it’s more alive than ever and the stories
you tell have the power to be audience specific, dynamic (based on
feedback) and available anytime, anywhere. This new data-driven
approach to storytelling requires data and analytics to inform seg-
mentation, real-time insights to create a dynamic plot as you learn
more about your customers through their journey and a multi-
channel approach to engage your customers wherever they are.
You’ve been assigned a not-so-secret mission to lead your
team toward data-driven marketing success beyond your
wildest dreams. In order to achieve your mission, it’s up to
you to take your target audiences on a new kind of buyer’s
journey, where you inspire them to take action so you can
be responsible for their “Happily Ever After”.
DYNAMIC VS LINEAR EXPERIENCES
The buyer’s journey is now a “Choose Your Adventure” story,
and it’s up to you, the marketer, to offer the right kind of
choices to the right kind of buyers.
2
For more than two decades, WealthEngine has provided
wealth intelligence solutions to help fundraising, marketing
and business development professionals create strategies for
extending their reach and building their prospect pipeline. WE
identifies your best buyers, donors or investors and gives you the
insights you need to understand what drives their decisions using
predictive analytics.
When you use data modeling to understand and segement
your audience, you are able to activate your best prospects, saving
time previously wasted on those who don’t fit your ideal buyer
personas.
You lead marketing at a non profit organization. Learn how to incorporate data- driven storytelling to engage prospects and donors. GO TO PAGE 3 You lead a B2C marketing team. Learn how to incorporate data-driven storytelling into strategies for customer acquisition and retention. GO TO PAGE 4
THE MISSION? IS YOUR ADVENTURE.
WealthEngine’s “Choose Your Adventure” is designed
to empower you to make the right choices based on the
information you learn about buyers before, during and after
the story to most effectively and efficiently move buyers
through the marketing funnel from engagement to conversion.
3
If you’re ready to take the lead in data-driven storytelling as a non profit marketer, GO TO PAGE 5
The Nonprofit Marketer’s Adventure
Storytelling has long been the nonprofit fundraiser’s best
friend. Stirring audience empathy and making emotional
connections is critical to moving donors and prospects toward
taking the actions that make an impact.
As a marketing leader with a nonprofit, you’re on a year-round
adventure to drive funding and influence for your cause.
Telling your organization’s story is one major tactic that
supports your fundraising and relationship building strategies.
A cohesive, compelling story works across all communication
channels and is easily shared.
SEE HOW WE’VE DONE THIS FOR NONPROFITS AND HIGHER EDUCATION CLIENTS
WE helps fundraisers to tell better stories by identifying
and predicting who will give, when they will give and
how much they can give so you can:
--- FIND MORE DONORS ---
--- PREDICT GIVING LEVELS ---
--- RETAIN YOUR DONOR BASE ---
--- GROW DONOR COMMITMENT ---
--- CONVERT MEMBERS TO DONORS ---
4
The B2C Marketer’s Adventure
Emotional connection sells. As a B2C marketer, you use story-
telling to engage consumers in a way that drives sales.
You are continuously challenged to identify new markets,
acquire new customers, increase ROI, grow wallet share from
current customers and predict the impact of price changes.
Many marketers are using segmentation to reach their
customers in a more personalized way but not all of them are
segmenting for wealth scores.
FIND OUT MORE ABOUT THE WORK WE’VE DONE WITH TRAVEL & TOURISM CLIENTS
SEE HOW BUCCELLATI WORKS WITH WEALTHENGINE FOR SUCCESSFUL LAUNCHES OF THEIR NEW BOUTIQUES
If you’re ready to take the lead in data-driven storytelling as a B2C marketer, GO TO PAGE 5
5
The PlotIf the first part of your adventure as a data-driven storyteller
is to best understand the goals your company or organization is
trying to achieve, then clearly, the next step is to develop your
plan for achieving them.
This brings you to the next part of your adventure, the plot,
where your tactics support these goals and the magic starts to
happen.
How do you make it magical? Your marketing team knows
how you want the story to end and your customer expects a
happily ever after. When you have the right customer behavior
aligned with the right corporate goals, your plot will begin to
dynamically unfold. Now, you can improvise rather than working
from a script, allowing for a more compelling experience for your
customers.
The best stories have a cast of characters who drive the plot
forward. The same can be said for the best marketing campaigns.
If you don’t understand your customers, they won’t understand
your story.
GO TO NEXT PAGE
6
“Brand promotion must begin by inviting people to actively participate in ways people find personally meaningful. Participation comes in many different forms. People will self-select the form of participation that best fits their needs – and they’ll challenge brands to take that feedback and act accordingly.”
- Nedra Klein Weidrich, President & Founder, Weinreich Communications
If you’re ready to attack Analytics, GO TO PAGE 7 If you’re ready to strike Segmentation, GO TO PAGE 8 If you’re ready to mingle with Metrics, GO TO PAGE 10 If you’re ready to go straight to the Adventure, GO TO PAGE 12
Key characters in your data-driven adventure’s plot:
— Analytics: The story the data tells us
— Segmentation: Helps identify what story the
customer/prospect wants to hear.
— Metrics: Determine which stories are best--and
context for how they’re told.
7
AnalyticsAnalytics are the stories your data tells you.
“Marketing analytics...measure business metrics like traffic, leads, and sales, and which events (both on and off your website) influence whether leads become customers. Marketing analytics includes data not only from your website, but also from other sources like email, social media, and even offline events. Marketing analytics are also usually people-centric, featuring the prospect, lead, or customer as the unit of focus.”
- Mike Volpe, Former Chief Marketing Officer, Hubspot
Analytics are at the heart of data-driven storytelling. They
help marketers craft more effective stories based on information
gleaned about the audience.
On your adventure, analytics are the characters that give you
marketing insight for what paths your prospects, customers and
donors are taking on the buyer journeys you’ve created for them,
providing intelligence to show which actions are most likely to lead
to conversion.
By gaining a firm understanding of how your targets behave
in the journey you create for them, you can begin customizing
stories that lead to most likely desired outcomes. In addition,
you can create predictive models that drive targets with
characteristics similar to ideal buyers toward stories most likely
to achieve desired outcomes.
If you’re ready to go straight to your adventure, GO TO PAGE 12 If you’re ready to strike Segmentation, GO TO PAGE 8 If you’re ready to mingle with Metrics, GO TO PAGE 10
8
Segmentation Segmentation helps categorize your audience into user
personas based on the attributes discovered via analytics.
At its core, segmentation is exactly what it sounds like, taking
a large audience and breaking it out based on specific traits and
characteristics. For marketers, these traits and characteristics are
usually pre-defined based on buyer and prospect personas. These
personas serve as guides to ensure you tell the right kind of story
to the most desireable members of a target audience.
GO TO NEXT PAGE
9
Segmentation plays a critical role in helping you achieve your
overarching goals and objectives. Your adventure as a marketer
revolves around your target list--the list of who you want to take
on the buyer’s journey--so you’ll need as much precision and
detail in segmentation as possible.
“Just because somebody has given $25 to one organization doesn’t mean that they are the best person to talk to when raising money for another organization. But, if you know that somebody has a net worth of $100M, there is a good chance they will be somewhat philanthropic. And, if they have any affinity at all toward your cause, there is a good chance they will give something that would be significant for your organization. Therefore, by including data about a person’s wealth and their past donation history and interests, WealthEngine can developer highly predictive scores and models for our clients.”
- Leo Scott, Chief Technology Officer, WealthEngine
WealthEngine aims to increase the revenue of its clients by
connecting them with the customers most likely to donate, buy or
invest. WE combine proprietary, public and third-party sources of
data to build detailed profiles of affluent individuals who are likely
prospects to contribute to nonprofits, purchase luxury products
or invest in financial services. Ultra-segmented audiences can be
identified and targeted using wealth, demographic, lifestyle and
personal attributes across a database of more than 210 million
people in the U.S.
If you’re ready to attack Analytics, GO BACK TO PAGE 7 If you’re ready to mingle with Metrics, GO TO PAGE 10 If you’re ready to go on your Adventure, GO TO PAGE 12
10
Metrics Metrics determine which stories are resonating best, and
more importantly, also show what’s working, and conversely,
what’s not working for you.
Measuring a story and a channel’s effectiveness in engaging
an audience segment takes the mystery out of what led (and will
most likely lead again) to certain outcomes.
“Measurement is what makes marketing a science, rather than a superstition. For many business owners, marketing is a superfluous expense—something to spend money on only when the budget is flexible enough to accommodate it. This is because the return on investment on marketing is, in many cases, unpredictable. Your ad could be a resounding hit, flooding you with thousands of new interested customers, or it could be a seeming dud, wasting your time and money. Solid metrics give you the insight to overcome this hurdle of unpredictability.”
Jayson DeMers, Contributor, Forbes
The types of specific metrics you’ll measure on your
adventure are defined by the kind of buyer journeys you create.
In a standard inbound marketing campaign, metrics would
include things like email opens, click thrus, landing page hits, and
content downloads. In a social media-driven campaign, metrics
would include things like shares and retweets, comments, likes
and favorites.
GO TO NEXT PAGE
11
Essentially, for every buyer journey, there are key points
where decisions can be made. It’s imperative to have tools in
place to measure how buyers behave at those decision points.
There are a wide variety of tools available for measurement -
from basic tools like Google Analytics, to far more specific
subscription-based tools like Clicky Analytics, KissMetrics,
ChartBeat, MixPanel, and more. At WealthEngine, our software
solution is designed to work with your existing metrics platform.
“The United States is a big country, and it has surprises everywhere. There are surprises in Memphis, Tennessee, and in Columbus, Ohio. We used to think the wealth was on the coasts, New York and Los Angeles. WealthEngine has helped us realize that it’s not just here or there – it’s hidden everywhere. And how would we know about these people in Columbus, or Memphis, without WealthEngine? Now we know how to find them.”
Alberto Milani, Chief Executive Officer, Buccellati
If you’re ready to attack Analytics, GO BACK TO PAGE 7 If you’re ready to strike Segmentation, GO BACK TO PAGE 8 If you’re ready to go on your Adventure, GO TO PAGE 12
12
The AdventureOnce you’ve defined and designed your adventure’s Plot by
effectively learning from and building stories developed through
Analytics, Segmentation and Metrics, you’ll be ready to go on your
Adventure--and take your target audience on their customized,
personalized “buyer’s journey”.
Again, this is not one-sided storytelling. Today’s buyer
journeys must be a dialogue across all channels and devices to
create an emotional connection to your campaigns.
The conversation needs to rise above meaningless chatter...
it needs to educate, solve a problem or inspire your customer to
reach their aspirations.
Consumers share a brand’s content because they find it
valuable to themselves and peers. If continual value is consistently
provided, it leads to continual sharing, and both the brand and
consumer benefit.
GO TO NEXT PAGE
Brands must evolve from a transactional relationship to
a dynamic one, where consumers and brands continually
exchange value. For example, when a brand obtains data
from a consumer, such as an email address, it becomes the
responsibility of that brand to reciprocate and provide value
in exchange for the data received – and more importantly,
that value must go beyond promoting the next purchase.
13
The buyer journeys you create will be driven through three
core channels, including:
— Earned Media
— Paid Media
— Owned Media
If you want to activate Earned Media, GO TO PAGE 14 If you want to propel Paid Media, GO TO PAGE 15 If you want to orchestrate Owned Media, GO TO PAGE 16 If you’re ready to cut to the Happy Ending, GO TO PAGE 17
ANALYZE
MEASURE
SEGMENT
DATA-DRIVEN
MARKETING
PAIDOWNED
EARNED
14
Earned Media The three core components of earned media are public
relations, influencers and social media. These components
work together, and often with paid and owned media driving the
storywheel of audience engagement. The stories you seed through
these channels are designed to gain audience advocacy, build
brand recognition and inspire desired actions. Based on definition
alone, as the customer-driven channel, it’s the proving ground for
“storymaking”.
Earned media empowers audience members to take part in
their journey’s story by offering personal contributions, staking
claim in your brand as part of their identity through sharing the
information, and having direct interactions with members of your
online and offline community.
If you want to propel Paid Media, GO TO PAGE 15 If you want to orchestrate Owned Media, GO TO PAGE 16 If you’re ready to cut to the Happy Ending, GO TO PAGE 17
How powerful is earned media in conveying stories?
— Forty-eight percent of individuals identified as
prospect researchers in WealthEngine’s survey use
social media at least daily for their work.
— Eighty-five percent use social media for finding
details related to employment, education, relatives
and marital status.
— Sixty-two percent are using it to identify interests,
causes or missions for which the prospect may have
an affinity.
And that’s just on social media alone.
15
Paid Media Paid Media gives marketers more control over where and how
often their messages, offers and content are amplified.
Different paid media channels work for different companies
and organizations. As a result, smart marketers know they cannot
take a one-size-fits-all approach.
Paid media works best when marketers start test campaigns with
tools in place to measure effectively. Further investment is made in
those campaigns with the highest conversion rates.
However, testing comes with a cost and modeling your
existing customers to target more precisely can decrease your
overall cost per conversion. This is where we can help.
The core components of this part of the adventure include:
— Paid Per Click Campaigns
— Social Media Advertising
— Distributed Content
— Sponsored Content
If you want to revisit Earned Media, GO BACK TO PAGE 14 If you want to orchestrate Owned Media, GO TO PAGE 16 If you’re ready to cut to the Happy Ending, GO TO PAGE 17
16
Owned Media Owned Media includes the channels controlled and created
by your company or organization.
The core components of this part of the adventure include:
— Website and Content
— Emails/Newsletters
— Promotion Codes
— Corporate/Employee Voice
— Social Media Amplification
Owned media gives you full control of where and how you seed
stories, plus it gives you the power to track metrics throughout
the buyer journey. For most companies, the goal of their earned
and paid media is to ultimately take the prospect on a journey
leading them from third-party media and platforms to ones the
company owns. Providing opportunities to opt-in for further
engagement across owned media is crucial to nurturing the
relationship -- leading to further engagement and conversions.
If you want to revisit Earned Media, GO BACK TO PAGE 14 If you want to revisit Paid Media, GO BACK TO PAGE 15 If you’re ready to cut to the Happy Ending, GO TO PAGE 17
Conclusion
We’ve shared some of our story and we’d love to help you
tell yours Even though you have lots of customers or donors,
the reality is...everyone of them wants to feel like the main
character in your story.
You can accomplish this by segmenting your audience and
customizing the messages and experiences you provide for
them. Small changes - from the way you ask them to take action
to the way you say thank you - can make a big difference.
It’s this differentiation that leads to major results. READY
TO GET STARTED?
REQUEST A DEMO
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Kissmetrics
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MixPanel
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Clicky
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Hootsuite
“Enhance your social media management with Hootsuite, the leading social media dashboard.”
WealthEngine
WE predicts who are your best buyers, donors or investors and gives you the insights you need to understand what drives their decisions.
Triblio
“Triblio provides software that enables marketers to personalize multi-channel campaigns.”
Salesforce
“Provides on-demand customer relationship management (CRM) software services to help companies with global customer communication.”
Bonus Toolkit Analytics, Segmentation & Metrics
Ready to continue your Adventure? We’ve curated a list of our favorite
tools for you to consider bringing along with you on your journey.
TrackMaven
“Improve your content marketing with data-driven insights.”
Help A Reporter Out (HARO)
“Help A Reporter connects news sources with journalists looking for their expertise.”
PitchEngine
“PitchEngine makes it easy to create beautiful, engaging stories about your brand in minutes.”
Edgar
“Edgar is a social media scheduling tool like no other.”
Outbrain
“Outbrain is the world’s largest and most trusted content discovery platform.”
Taboola
“Taboola recommends editorial and sponsored content across many of the world’s most highly-trafficked sites”
Bonus Toolkit Paid, Earned and Owned Media
Ready to continue your Adventure? We’ve curated a list of our favorite
tools for you to consider bringing along with you on your journey.