Emarketing Keynote 2014
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Transcript of Emarketing Keynote 2014
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Why Big Data? Why now?
Pace of change…+ Companies: Large and small…
+ Industries: Old & young
+ Customers: b2b, b2c, male or female, rich or poor…
+ Change, big change…
Age of the Customer“Empowered buyers, disruptive digital
innovations…erase traditional competitive advantages…the next wave
will come from deep customer knowledge, engagement tied to the
buyer's timing, and actions based on an obsessive desire to deliver what
your customers want before your nearest competitor does.”
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I’m Thad Kahlow @Tkahlow
+ CEO BusinessOnline+ 14 years Digital Marketing+ B2B/B2C High Consideration- lead to sale + B2B Magazine Interactive Agency year+ Top Agency: 3 Consecutive years…
+ Thrilled to be here today!
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CEOs operate in a substantially more
“volatile, uncertain and complex world”
-IBM Study, face-to-face conversations with more than 1,500 CEO’s worldwide.
CEO: New normal
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Re-Invent Customer Relationships:+Adopt new channels to engage & stay connected with customers.+Draw more insight from data…make customer intimacy priority #1
Solution
CEO
“CEOs believe #1 goal is to get closer to
customer”-IBM Study, face-to-face conversations with more than 1,500 CEO’s worldwide.
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Deliver Value to Empower Customers+ Digital revolution- forever changed
balance of power between individual & institution
Foster Lasting Connections+Cultivate meaningful relationships…
throughout life cycle
Capture Value, Measure Results+Justify financial results
Solution
CMO
Because…Customers
have control & fundamentals
have changed…
Barriers to entry are minimal,
competition can enter and win quickly…
Customer Relationships become our
largest asset
Data is introduction,
enabler & insight
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Programs that efficiently and
effectively generate
leads/conversions that turn into
sales…
Majority of marketers do not
know which programs produce leads/conversions
that turn into sales.
The Primary
Marketing Challenge
yet
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Customer Journey
Validated Score
Attribute
Personalize
Close the Loop
Close the Loop
AttributeSuccess
DriveBusiness
Performance
More Effective
Sales
Strategy Starts
Data Framework
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Map
Company Buying Journey
+
+Data
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SEO
Digital Marketing ActivitiesAlign Customer Buying Journey
EXPLORE EVALUATE PURCHASE EXPERIENCECBJ
CUSTOMER
CONTENT
CONNECT
+
VideoInfographic
Blog/Text
CFO
VPM
Nurture to sale
Influence newKey Decision Makers
CIO
Social
Marketing Automation
VideoInfographicWebinarBlog/Text
VPM
DMM
Marketing Automation
1-1 Engagement & Nurturing
Align TL to Differentiation
Remarketing
CRO
Amplify Customer WOM
Blog/Text
DMM
VPM
Social Proof Persuasion Sharing
Marketing AutomationSocial
VideoVideo
InfographicWebinarBlog/Text
DMM
Thought Leadership (TL) Builds Trust
SEO
PPC
Paid Social
ContentMarketing
Display
Precision Advertising- Create Demand
Create CONTENT to solve customers specific needs
Understand the needs of your CUSTOMERS throughout the CBJ
SEOPPCDisplay
CONNECT your customers with that content
“Great marketers focus on people… their needs, behaviors,
intentions, wants… Avoiding the shiny temptations of marketing
solely to things – like devices, channels, technologies. Never been more critical… Staying focused on
the people and motivations…marketers can catch an incredible
wave of opportunity.”
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Awareness
Engagement
Conversion
SALE
Awareness: PPC , SEO, Display, Social, Email…
Usage Engagement: Bounce, Page Views, Visits, Frequency
Content Engagement: Newsletters, Blogs, Videos, Webcasts, product pages
Conversion: Request a quote, contact, dealer locator,
initiated lead, completed lead, registration, #800
Measured in isolation:-Single Channel to Lead : CPL
-Silo Engagement: Avg page views
Common
Approach to Measurement
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Derive Deep Customer InsightsConnected Marketing Technology
Web Analytics Business Systems Channel Data
Customer Intelligence
+ Customer Insights drive Business Performance:+ Connect + collect data at the individual level, unearth customer insights + Performance attribution: channels, content, distributor, offer, etc… to a sale.+ Cut what’s not working, reinvest in what is- improve ROI.+ Grow scale, efficiency and effectiveness
“…companies are seeing an average
15-18% Lift in Revenue… As result of implementingclosed-loop & Optimizing”
- Tina Moffett, Attribution Analysts Forrester Research
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Type
Approach
Single TouchAssigns 100%credit to the lastor first exposure
First/Last Touch
100%
Rules-BasedAssigns credit to eachinteraction based on specific business rules
Even Weights Custom Weights Time Decay Positioned Based
DisplayE-Mail Search
33% 33% 33%
Statistically DrivenAssigns credit to eachinteraction based on adata driven model
Regression Model Probabilistic Model “Validated Engagement
Factors”
DisplayE-Mail Search
27% 49% 24%
Basic Advanced
Primary
Attribution Model Types
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VEF
“Historical review of past behavior… to improve future outcomes”
Validated Engagement Factor
10 - 100’s Successful Outcomes
Validated Engagement
Modelx =+
Data Collected & Connected
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Five Steps
Validated Engagement Factors
3. Aggregate past (50+) clients- create statistically significant = validated
Path to Success2. Determine path to success: what did prospects do before they became clients?
1. Close the Loop: Data house in order: web activity + marketing automation + CRM (sale) in Data Warehouse
Closed Loop
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4. Normalize Connected Data: + Time: Analyze engagement activity over time (12mos)+ Normalize: Create a Normalized engagement score across all
customers = 100 (mean)+ Analyze for Statistically Relevant Insights: Lead engagement
scores > 100 Score =+ “demonstrating higher likelihood to buy”
5. Turn Insights into Business Opportunities + Content personalization+ Remarket + Click to chat+ Sales alerts/out reach
Video
Validated Engagement FactorsFive Steps (Cont)
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+ Typically measured @ individual level-YET-
+ KNOW B2B has multiple influencers in buying journey
+ For Every known lead, we can have 10+ unknown visitors
+ Measure, analyze and optimize opportunities at the company level
Attribution Video
Company Attribution
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7 vs. 173 = +24x More successful
Example
Individual vs. Company
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0
200
400
600
800
1000
1200
1400
1600
1800
Month 1 Mo. 2 Mo. 3 Mo. 4 Mo. 5 Mo. 6
Analysts
Marketing
IT Team
C-Level
Engagement Score
Most of these stakeholders were anonymous
B2B Sales Funnel
Stakeholders in Buying Process
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General experience Personal experience Convert Increase sales
SALE
+ Someone in your role+ In your industry+ At this stage of buying journey+ Looking for to solve this specific problem+ Has found this piece of information valuable+ All based on past success events
Personalize to role/need
Amazon for B2B/ B2C High Consideration
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From DataDerive Business Insights
+ Identify insights from multiple data sources to clearly communicate performance at the channel, campaign, and content level
+ Let your team focus on business decisions instead of wading through low-level marketing analytics data
+ Focus on customer activities that sell and clearly demonstrate the impact of marketing to the bottom line
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FROM:+Targeted Impressions: ~9M +CTR 1%–2.5%+CPC: Avg $1.20+Qualified Visitors: 100ks +Lead Conversion: Avg ~7%+Cost Per Lead: $20 CPL
Digital & Business Key MetricsExample
A mature digital presence with Closed Loop Insights…
To:+Lead to Sale: ~4%
+ Cost Per Sale: ~$600 cost/sale (p/unit)+ $20M Sales/ $1M Cost
+Marketing ROI: 2,000+%
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EffectivenessSales
+ Give sales the right information to close more business in less time
+ Sales alerts+ Predict who will buy
in the future+ validated
engagement scoring +
Establishes predictable, efficient sales path that takes less time
SALE
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Future…
Predictive Modeling
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Thank You
Data Education
+ Data Maturity Model
+ White Paper: Closed Loop Marketing Attribution
+ Webinar: Close the Sales & Marketing Loop
@tkahlow