How To Personalize Your Marketing for the HyperConnected Consumer
Personalize Your Marketing - Your Customers and CFO Will Thank You
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Transcript of Personalize Your Marketing - Your Customers and CFO Will Thank You
PERSONALIZE YOUR MARKETING
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Amrit Kirpalani Founder and CEO of nectarOM Ma. Koppelman Digital Marke6ng Manager at Riddell
The Obligatory:
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For the Summit: For this Session:
#MUISS #HappyCFO #HappyCust
For:
• Social Business
• Entrepreneurship Counsel
• Leadership Advice
For:
• Ironic Pop Culture T-‐shirts
• Cursing the CTA
• Complaining about the Cubs
How Are You Talking To Your Customers?
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INDUSTRIAL AGE INFORMATION AGE CONVERSATION AGE
A ShiH In The MarkeIng Landscape (again)
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Already Here Today
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What is Hyper-‐PersonalizaIon?
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hy-‐per per·∙son·∙al·∙iz-‐a6on The quality or state of catering to consumers’ needs and wants by using preference data to create meaningful connecPons ·∙
“70% of customers indicate a willingness to disclose personal details for more relevant messaging”
Personaliza+on Sees Payoffs in Marke+ng Emails, eMarketer, January 28, 2014
How Does It Work?
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Customer Data
Personalized Recommenda6ons
In AcIon
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Two Editors from The Atlan*c reversed-‐engineered the NeTlix microgenre algorithm:
Netflix possesses not several hundred genres, or even several thousand, but 76,897
unique ways to describe types of movies.
How many microtags can you apply to each member of your potenPal customer base?
Sally has been Browsing Amazon to Purchase Fitness-‐Related Items:
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Data Creates AcIonable Profiles
What She
Buys
• Transaction History • Ability to Segment
Purchase Behavior • But has Selection Bias
Where She
Goes
• Online Browsing Habits & Preferences
• Provides Context to Enrich Profile
How She Lives
• Marketing Channels • Major Life Events • What She Believes • Likes / Dislikes, Interests,
Activities • Education / Family
Background
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Who They Are + How They Live = AcIon
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Name Purchase History
Online Behavior
Social Profile
Life Events
Brand Affinity
Desired Action
Jane Doe Loyalist “Window” Shopper
Light Green / Gen-Y
Just Got Engaged
Mid to Upscale Brands
Up-Sell
Jen Smith Moderate Deal Seeker
Single Mom / Active
Moving for New Job
Value Brands
Retain
John Doe Dormant Not Known Tech-Savvy / Travels & Reads
Planning a Vacation
Upscale Brands
Re-Activate
Alice – ‘Best Customer’
Loyalist Online Influencer
Socially Conscious / Younger
Family Oriented
Mid / Value Oriented
Ideal Acquisition Target
How Customer Lives What Customer Does
Omni-‐Channel DistribuIon Email Website Mobile
• Dynamic on-site widgets or content blocks, even displaying banners or shadow boxes, depending on the unique user experience of your site
• Don’t forget that consumers are using a multitude of devices to interact with you
• Scheduled and Event-Driven or “Triggered” Campaigns
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Happy Customer Equals…
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Increased conversions
Increased loyalty
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Not At All Likely, 18%
Extreme Likely, 8%
Very Likely, 17%
Somewhat Likely, 56%
Your Customers Will Thank You
Personaliza+on Sees Payoffs in Marke+ng Emails, eMarketer, January 28, 2014
Likelihood that US Shoppers Will Purchase More Items A9er Receiving Personalized
Emails About Products
81% of respondents stated
they are more likely make addiPonal
purchases as a result of targeted
emails.
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Not at all
willing, 18% Extremel
y Willing, 7%
Very Willing, 19%
Somewhat
Willing, 56%
Willingness of US Digital Shoppers to Receive AddiConal PromoConal Emails
from Retailers if Personalized
Your Customers Will Thank You
82% were willing to handle the increase in messaging if personalized
Personaliza+on Sees Payoffs in Marke+ng Emails, eMarketer, January 28, 2014
Get On Your CFO’s Good Side
Revenue
Costs
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Increase of 2-‐5% Profit
Margin points
How Hyper-‐PersonalizaIon Decreases Costs:
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Costs
Reduces Returns
OpPmizes PromoPonal Spend
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How Hyper-‐PersonalizaIon Increases Revenue:
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Increases CTR
Increases Conversions
Revenue
Increases Loyalty
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3 Steps to Start Personalizing:
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1 Conduct a quick audit
2 Convince your CFO
3 Demand more from your partners
QUESTIONS?
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