Unlocking the Value of Your Online RelationshipsBill Nussey, CEO SilverpopeMarketing AssociationAtlanta, October 23, 2007
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Agenda
A brief history of email marketing
Where is the value?
Six Tactics To Unlock the Value of your Customer Relationships and Data Why isn’t everyone doing this today
The Evolution (and Future) of Email Marketing
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The Evolution of Email Marketing - Today
Today’s email marketing hasn’t changed much over the last 4-5 years
We build lists
We target & segment
We send messages
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Email &CustomerDatabase
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The Next Step is Multi-Channel
Multi-channel delivery
RSS
Mobile
Postal / direct
Transactional communications
Your email system can become your communications dashboard for every marketing touch point
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Email &CustomerDatabase
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Then Comes Behavioral Targeting
Behavior based targeting
Increased response & conversion rates
Higher relevance
A hidden benefit The data you
collect is attributable – it may be the most insightful customer data you have
Your email database gets more valuable
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Email &CustomerDatabase
MsgResponse
Data
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Integration Improves Your Customer Data
Surveys enhance your customer records
Integrated surveys can also be driven from the customer data
Web analytics integration
Best way to improve targeting
Custom triggered mailings
Email behavior can feed back into analytics tool
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MsgResponse
Data
SiteAnalytics
Survey
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Abundant Customer Data Enables Scoring
A critical mass of customer data allows your system to rank and score customers
Which customers are likely to buy immediately?
Which are likely to defect?
Which customers qualify for premium service?
The value of your customer data continues to grow
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MsgResponse
Data
SiteAnalytics
Survey
Scoring
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Rich Data Enables New Kinds of Tools
Micro-sites are the most underutilized drivers of improved response rates
Step 1: Data-driven landing pages
Personalization
Dynamic content
Step 2: Optimization Landing page
response data feeds back into the master database and the system optimizes the content
LandingPages
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MsgResponse
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SiteAnalytics
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The Future: Any Business Data Can Drive Campaigns
Email marketing solutions are taking the next step – they can store and act on any kind of business data
True relational data schemas
Supported in dynamic content, queries, reporting
The email database can now manage a variety of data
It can become the launching point for a new generation of marketing
LandingPages
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E-Commerce
Data
CRMData
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MsgResponse
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SiteAnalytics
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This is Great News For Email Marketers
Email is unique in the world of marketing No other business system has proven as flexible and actionable as email The ROI of email marketing is significantly higher than any other forms of
marketing, offline or online
The value of your email program can grow well beyond the size of your list
As email tools mature and your programs evolve, your email database may be your new secret weapon – a low cost marketing data-mart that’s designed for executing campaigns
Where is the Value?
Did Anyone Notice How the Circle Grew?
Marketers need to think two dimensionally – list size is just one dimension – also focus on how much data you have for each customer
The value of any list, but particularly your email list, grows as you add more information to each name
Email &CustomerDatabase
Email &CustomerDatabase
Why Isn’t Everyone Doing This Today?
Three big reasons why marketers are not unlocking more value from their relationships today
Email has a huge ROI even if you just stick to the basics Many of the tools available today make it hard or impossible Some of this stuff looks straight out of the IT department
The good news The work required is often much less than marketers think There are a number of easy tactics available today that can prove out the
ROI well before you make the big investments in full integration
Six Tactics To Unlock the Value of your Customer Relationships and Data
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Tactic #1: Surveys and Polls
Marketers have spentdecades learning tointerpolate customerinformation for scarcedata
The easiest way toimprove the value ofyour relationships isto just… ask the customer what theythink
In the world of online relationships, surveys fast, effective and cost almost nothing
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Tactic #2: Lead Warming
Marketers commonly fail to translate an anonymous visit into an attributable prospect relationship
Ask for an email and explain how you’ll use it – for prospects who don’t want to commit, offer RSS
Automate the follow up with information and promotions
Leads
Web
site
LeadWarming
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Tactic #3: Tie in to Web Analytics
Campaign Type Broadcast Triggered Lifecycle Web site click-stream
Primary targeting tactic
used
None, no personalization or
segmentation
Shopping cart
abandon
Product replenishment
message
Click-stream based
targeting
Open rate 20% 27% 26% 33%
Click rate 9.5% 9.3% 14% 14%
Conversion rate 1.1% 2.3% 2.8% 3.9%
Integrating web analytics and email is increasingly straightforward
The power of multi-channel integration can double and even quadruple the value of the same customer relationships
Start by simply exporting data and seeing if it can drive better conversions
Data from JupiterResearch
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Tactic #4: Optimization
Optimization uses technology to help improve response rates to web pages (examples above are from Google’ website optimizer)
Automatically test combinations of text, images and calls to action to see which peform the best
Increase the value of your advertising and lead generation by simply converting more anonymous visits into attributable data and conversions
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Tactic #5: Score Your Database
Use the data you already have and make it more valuable
Rank customers into categories
1, 2, and 3 Bronze, gold or platinum
Simple demographic and survey data is an easy way to start and can be done manually
Behavioral data is even better
Simplifies targeting and analytics tremendously
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Tactic #6: Map Sales (or other) Data Onto Your List
Add some external data, like ecommerce sales, to your email list
Imagine the targeting possibilities with this simple, monthly update to your email data
Target high spend customers Promotions for customers who haven’t purchased in several months The possibilities are endless
JanSales
FebSales
MarSales …
[email protected] $27.13 $0.00 $0.00 $12.72
[email protected] $0.00 $0.00 $98.50 $0.00
[email protected] $10.00 $10.00 $10.00 $10.00
…
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Wrap Up
Your email marketing database is probably a more valuable than you realize
Many of the “cutting edge best practices” are easier than they look – especially if you just want to test how well they work
Unlocking the value of the relationships already in place is probably the highest ROI available to marketers today
Thank You
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