Transforming The Customer - Silverpop
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Transcript of Transforming The Customer - Silverpop
Transforming the Customer Experience: Increase Engagement and Drive
Revenue for Retail & Ecommerce
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About Retail TouchPoints Launched in 2007
More than 28,000 subscribers
Provide executives with relevant, insightful
content
Free Resources such as White Papers, E-
book, Webinars, Research and Podcasts
www.RetailTouchPoints.com
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Today’s Panelists
Andrew GaffneyPublisher
Retail TouchPoints
MODERATOR
Stephen DumasProduct Marketing Director,
Enterprise and Retail SolutionsSilverpop, an IBM company
Transforming the Customer Experience: Increase Engagement and Drive Revenue for Retail & Ecommerce
IBM Industry Cloud SolutionsCopyright 2014 IBM Corporation
Copyright 2014 IBM Corporation
Agenda
• Learn how consumer trends are driving retail marketing changes
• See how consumer behaviors are affecting campaign outcomes and driving revenue
• Learn how automation technology optimizes the customer life cycle
• See examples of great informed contact strategies retailers are using today
Copyright 2014 IBM Corporation
TRENDSConsumer Trends Driving Retail
Copyright 2014 IBM Corporation
Retailers are among the lowest benchmarked open and click rates for email, but are one of the top industries among click to open rates.
Retail consumers know what they like.
17.9%2.4%
12.5%
OPEN RATE
CLICK RATE
CLICK TO OPEN
1/3 lower than top verticals
50% lower than top industries
Consistently a top vertical
Copyright 2014 IBM Corporation
Shoppers love to be …rewarded.
…recognized.…retained.
Retail marketers are embracing the prevalence of useable marketing data through CMOs & CIOs, Platform Investments and Analytical People.
$232 Billion
BIG DATA
of executives say they need to embrace data to succeed
75%
will drive
in spending through 2016
70%of data is created by individuals 80%
is managed and stored by Enterprises
Copyright 2014 IBM CorporationSource: April 10, 2013, “The Customer Life Cycle: A Blueprint For Customer-Obsessed Enterprises” Forrester report
Gone is the linear view of thinking through a consumer purchase journey.
Customer activity is constant and can informa new lifecycle strategy.
…in the right context.
It’s just not that simple anymore.
36%of firms are
developing sensor based technology
Context is now the imperative.
62%of marketers will grow digital budgets in 2014.
Activity is being captured in real time
on location.
Audience paradigm vs. Conversational paradigm
Copyright 2014 IBM Corporation
CONSUMER BEHAVIORSEffectively Using Consumer Behaviors to Drive Engagement
Likely more than 50 different behaviors
Copyright 2014 IBM Corporation
$$ ROICH
URN
Copyright 2014 IBM Corporation
Understands Behaviors
Copyright 2014 IBM Corporation
Explicit Data
Copyright 2014 IBM Corporation
Implicit Data
“What customers do is far more important than what they say”
Copyright 2014 IBM Corporation
CRM
ECOMMERCE
INVENTORY
WEB ANALYTICS
System Data
Copyright 2014 IBM Corporation
Connects the Dots
Connect all the ways that each customer interacts with your brand
SINGLE IDENTITY
Copyright 2014 IBM Corporation
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Subject Line PersonalizationFirst name personalization
Personalized Content Name and contact info for each customer’s personal rep
Dynamic Subject LinesThe subject line changes based on the type and duration of club membership
Individualized Content ListsFor any customer who has purchased two or more items in the last 90 days, list each purchase with review links
E-commerce-driven PersonalizationDisplay totals and other engaging content to drive follow-on purchases.
Website-driven ContentDirectly track each customer’s web activity and prompt them to visit new areas of the site.
Send Time OptimizationThe message arrives in each individual’s inbox at precisely the time that individual is most likely to check email.
Data-driven Dynamic ImageImage is selected based on demographic and profile info
Score-driven Dynamic OfferDiscounts/prices vary by social influence and time since last purchase
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Truly Individualized Email Messaging
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Copyright 2014 IBM Corporation
AUTOMATED TRIGGERSOptimize Customer Lifecycle Marketing
Automate completely personal one-to-one interactions that drive customers down the path to conversion.
Automates Interactions
Hey Jim!
Don’t miss the Cycling Expo coming to Atlanta!
INTERACTION ENGINE
Copyright 2014 IBM Corporation
Abandon Cart/Welcome /Browse Retargeting
BILL“the cart
abandoner”
GENDER
SOURCE
AGE
22M
the new customer
the cart abandoner
the browser
CATEGORY VIEWS
PREFERENCES
CART DATA
LOCATION
Copyright 2014 IBM Corporation
Post Purchase/Loyalty/ReplenishmentJANE
“the new customer”
GENDER
INTERESTS
PURCHASE HISTORY
AGE
26F
the new customer
the cart abandoner
the browser
PREFERENCES
LOCATION
88%
12%VolumeBroadcastAutomated
70%
30%
RevenueBroadcastAutomated
Low volume, high ROI
Automated Emails4 years ago = 2% volume / 1% revenue
Today Volume = 6X; Revenue = 30X
Copyright 2014 IBM Corporation
ENGAGEMENT MARKETING
Browse Abandon• 20% - 50%
conversion rates lifts
SentDelivered
Opened
Clicked
Product Views
Cart Additions
Checkouts
Orders
Revenue
Units
WEB
Cart Abandon• 87% of consumers
abandon carts• …75% say they will return
to complete the purchase.• Following up with
abandoners by email yields up to 50% conversion.
Welcome!
Onboarding Email(s)
• Dynamic based on specific category items browsed
• 3-5 emails series• Top
sellers/recommendations
• Ends with “best offer”
Copyright 2014 IBM Corporation
Repeat Buyers are key to Growth & Sustainability
• Study of online retailers doing retention marketing:• Generated 55% of their 2012 eCommerce revenue from the 31% of
customers who were Repeat Buyers.• Increased their number of Repeat Buyers by 47% vs 2011.
From www.windsorcircle.com/2013-retention-marketing-report
Incorporates
• Offer based on loyalty status, LCV, new customer
• Specific category items browsed
• Top sellers/recommendations
Best Buyer
Copyright 2014 IBM Corporation
RFM Analysis Primer
F = Frequency: Number of purchases made
R = Recency: Time since last purchase
M = Monetary Value: Amount spent by a customer
Copyright 2014 IBM Corporation
Churning Customer Segment: “R4F1M1”
Engagement segments
Impact on purchases
Copyright 2014 IBM Corporation
Loyalty Example
GOALS Stonyfield has two main objectives with its email, and overall, digital marketing efforts. Those include: • One-to-one relationships with each customer• Building customer loyalty and engagement
RESULTS • The first 30 days: 42 percent open rate • Campaign average open rate: 33 percent
Copyright 2014 IBM Corporation
Dynamic offer:• Loyalty status• LCV• New customer• Never purchased
Birthday Email 2.0
Autoship Reminder Email• Reminds customer of upcoming SmartPaks
order• Allows customer time to make changes
before order is processed• Top revenue generating triggered email
The results:• 36% open rate• 13% click-through rate• $1.39 revenue-per-email• 18%+ conversion rate
Real time products based on purchase behavior
Copyright 2014 IBM Corporation39
Welcome & Thank
Manage Latency
Intention Marketing
Listen & Learn
Deepen Relationship
Recommend on Affinity Contests & Gifts
Segment & Personalize
Surprise & Reward
Win Back
Keys to Retention Marketing Success:
1. Leverage Customer, Product, & Purchase History Data
2. Ongoing RFM (Recency, Frequency, Monetary) Analysis
3. Automate Retention Marketing to Maximize Conversions & Value throughout the Lifecycle
The Keys to Retention
Copyright 2014 IBM Corporation
CROSS CHANNEL STRATEGIESMobile, SMS and Transactional
Copyright 2014 IBM Corporation
What if You Could:
Copyright 2014 IBM Corporation
Right message, Right medium
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Copyright 2014 IBM Corporation
In-store• Great informed in store services• Pick-Up In store, order online• Order in-person, have shipped or email follow-ups• Social sentiment and customer service• SMS notifications and store or service awareness
and delivery
• Jake Rawlins• Online & Offline
customer• Mobile app user
Mobile App + Geo-fencing + Universal Behaviors
Sales associate engages customer based on purchase
behavior and LCV
Buyer alert triggered by geo-fencing and use of mobile app
Copyright 2014 IBM Corporation
Dynamic Rewards
Personalize
Behavior Scoring
Copyright 2014 IBM Corporation
H&M now
ONLINE EXCLUSIVE!Straight from the Paris runway, pre-shop our much anticipated Paris Show Collection today!
AMC Theatres now
AMC: Show AMX Stubs in theaters today & receive $10 Bonus Bucks instantly for snacks…
Allergy now
Remember to Log Your Allergies: Gain insight into what helps and what doesn’t.
OK: BroadcastMessage all app users
GOOD: NarrowcastMessage some app users
based on rules & segments
GREAT: 1:1 CastMessage individual users
based on user preference, behaviors and location
Copyright 2014 IBM Corporation
• Alerts & Promotions• Coupons• Store Locator• New Products• Sale Events• Birthday Specials• Gifts• Free Online Shipping
Acme: Just for you – extra 25% off your $100 purchase! Details:
http://bit.ly/ArArAl Use promo code SPRING &
shop now: www.acme.com/mobile.
Rply STOP to quit.Acme: Happy Friday! Get Buy One, Get One FREE
today 3/25 from 3-5pm. Not valid w/ other offers.
Only 1 offer per text. Reply STOP to quit.
Acme: Get your coupon for 20% off 1 item. Click http://bit.ly/ACMg6C for offer. Reply STOP to end.
Msg&data rates may apply.
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Visit acme.com/mobile for details. Rply STOP to quit.
Retail
Copyright 2014 IBM Corporation
One-to-One on the Web
Copyright 2014 IBM Corporation
CASE STUDYExamples of How One Retailer Is Leading the Way
Copyright 2014 IBM Corporation
Wedding Campaign
The first email in campaign asks if customers are shopping for themselves or for a friend
Copyright 2014 IBM Corporation52
Campaign Logic
Email topic breakdown:
Your Wedding• Wedding
Invitations• Wedding essentials• Wedding favors• Bridal party gifts• Thank you cards
Friend’s Wedding• Bridal shower invites• Shower tableware• Bachelorette invites• Bachelorette tableware• Wedding gifts
Copyright 2014 IBM Corporation53
Email track: Your Wedding
Copyright 2014 IBM Corporation54
Email track: Friend’s Wedding
Copyright 2014 IBM Corporation55
Wedding Campaign Results
Combined, these targeted emails have resulted in:
• Open rate: 244% increase over average email send in 2012• Click rate: 161% increase• Revenue per mailing: 330% increase
Copyright 2014 IBM Corporation
Data in Silos
Fragmented picture of
customers
Lack of Control
Lack of control
over data
RelevantContent
Inability to customize content
Right Channel
Get customer’s attention
Real-time Execution
Inability to execute in real-time
Lack of Insight
How individuals
interact with your
brand
What business challenges does Silverpop solve?
Copyright 2014 IBM Corporation
The Silverpop Marketing Platform
UNIVERSAL
BEHAVIOR
Capture Every Action
Captures and manages
behavior across every digital and offline channel to build
unparalleled insight into
each individual
SINGLE IDENTITY
Connect The Dots
Connects every
customer touch point into a single
view
MULTI-CHANNEL
Communicate Across
Platforms
Sends personalized
messages everywhere
each customer prefers to connect
BEHAVIORAL
INSIGHTS
Understand Path To
Revenue
Discovers customer
preferences by analyzing data from all devices and channels
MARKETING DATABASE
Manage Behaviors At Scale
Manages everything about each
customer, easily and at scale
INTERACTION ENGINE
Automate Communications
Gets personal with each customer, one at a time and in real-
time
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Submit Your Questions // Q&A
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Q & A // Panelists
Andrew GaffneyPublisher
Retail TouchPoints
MODERATOR
Stephen DumasProduct Marketing Director,
Enterprise and Retail SolutionsSilverpop, an IBM company
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Thank You For Joining Us!
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