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List Building
 

List Building

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List Building List Building Presentation Transcript

  • Maintaining a Healthy Database in a Sick Economy Billy Conway - Group Director
  • So what is healthy?
    • Growing
      • Are adding more addresses faster than losing them
    • Fresh
      • Is up to date as close to real time as possible
    • Deep
      • Are rich enough to gain customer insight and derive actionable segments
    • Quick
      • Allows you to be responsive to opportunities when they arise
    • Active
      • Are made up of customers responding to your marketing messages
  • Growing
  • Understand Current Health
    • Understanding your current database
      • Current annual database growth? marketable?
      • Current List shrinkage
      • Time from optin to optout
        • first campaign optout -> sign up issue
        • First 30 days complaint rate
    • Who are most valuable customers and how did we acquire them?
      • What defines quality? Active? Value? Segment?
        • Our experience says 80% revenue comes from 20%
  • Sources of E-mail Acquisition Percentage of Marketers Using Acquisition Tactic Level of Satisfaction Paid search Call center Co-registration E-mail list rental In-person/store event Sweepstakes Newsletter sponsorship E-mail append Own site registration Not Satisfied Very Satisfied Source: JupiterResearch/E-Rewards, Inc. E-mail Marketing Executive Survey (5/06), n = 253 (e-mail marketers, US only) We would also add transactional email to this list!
  • Key Acquisition Points
    • First, refine your email proposition
      • It IS the product
    • Using Lifetime Value, establish the Cost Per Acquisition
    • Know who you are after
    • Make opting in ubiquitous, easy, and compelling
    • If you can, put customers in control
    • Use e-mail addresses immediately
    • Build a business case and plan for each channel
    • Get the best out of your agencies
  • Acquitention Tactics
    • Use transactional messaging
    • Build a flexible standalone opt in page for reuse
      • Call centre
      • Search and Affiliate
      • Flexible fields/Multi-language
    • Capitalise on other marketing spend
    • Are their existing dormant addresses anywhere within the business?
    Terms and conditions
  • Fresh
  • Fresh
    • Measuring age of data
        • Look at all the sources of your email address – how quickly do they get to you? (say from store, from 3 rd party, from web)
        • What is the distribution on records last updated?
          • i.e. 60% older than one year.
    • List Audit and Hygiene services
    • Real-time address validation
    • Then how quickly are you starting a dialogue?
  • Deep
    • Maximise ROI during the honeymoon period
    • Third party data plugs the insight gap at the time we know the least about a consumer
      • Helps explain the “why” for observed behaviours, and target the “who” for new activities
    Data Lifecycle Consumer engagement (time) 3rd party data Customer data Useful data Prospect Established relationship
  • Why Segment
    • Mass Marketing
    • Everyone is the same
    • Same offers
    • Same products
    • Same channel
    • Individuals
    • Everyone is different
    • 40 million offers
    • Segmentation
    • People are alike in some ways
    • People are different in others
    Expensive Inexpensive Operationally complex Operationally easy No 2 messages alike Spray & Pray
  • Data Lifecycle by type Quality of Relevance Knowledge Around Preferences (or Availability of Data ) E-mail Data (Soon) Web Click Data Profile Data (perhaps) E-mail Data (Perhaps) Web Click Data Profile Data First Conversion E-mail Data Web Click Data Profile Data First Conversion Few More Conversions E-mail Data Web Click Data Profile Data First Purchase Few More Purchases A Lot More Purchases Phase 1 (Leads) Phase 2 (One-Timers) Phase 3 (Mid/Low RFM) Phase 4 (High RFM)
    • Third-party sourced data
    • Demographics
    • Lifestyle
    • Purchase patterns
    Third-party sourced data Third-party sourced data
  • Some Data Acquisition methods
    • Poll Builder
    • Preference Centres
    • Drip polling
  • Benefits
    • Improved Targeting
      • Demographic
      • Purchase and Value
    • Triggers
      • Birthday or anniversary trigger
      • Replenishment
      • We miss(ed) you trigger
        • Site visit or purchase
    • “ Boost” ratio –
      • revenue/value per post-activity trigger message compared to the revenue/value per average message sent
  • Quick
      • Commerce results from two consumer responses to marketing:
      • Demand Generation - A consumer buys something because they were presented with an offer, but otherwise had no intent making such a purchase. Most Marketers use this approach, knowing that someone within the database will be in the market for their offer.
      • Opportunistic Marketing - A consumer is in the consideration process (e.g. browsing a site) and buys something because they are presented with an appropriate offer before they buy from someone else. If we assume at any given time that only 2% of the database is actively considering what the Marketer has to offer, we must take advantage of that 2%.*
      • Their Hurdle:
      • Few Marketers take advantage of Opportunistic Marketing, primarily because they cannot translate consumer behavior into an actionable response fast enough.
    The Marketer’s challenge
  • Complex Considerations How should we best address these behaviors? In what circumstances should we E-mail this person? With what message or offer? Register Browse Checked Golf and Tennis Nike SQ Driver Click Presentation Layer Scoring Layer Behavior Layer Nike Golf Shoes Golf Tennis Golf Tennis Golf Tennis $$$ Nike $$$ Nike 50% 50% 70% 30% 80% 20% 100%
  • Quick Behavioural Targeting
    • Sign up
      • Welcome trigger
    • Web
      • Abandoned shopping cart trigger
      • “ Shopping” Triggers
    • Email
      • Click targeting
  • Active
  • Email Engagement
      • Active Subscriber rate:
        • Number of subscribers who have opened, clicked or converted in the past six months, divided by the total number of subscribers
      • Non-responsive Subscriber rate:
        • number of subscribers who have not opened, clicked or converted in the past six months, divided by the total number of subscribers
      • Subscriber response rate:
        • number of times a subscriber responds (open, click, purchase) divided by the total number of messages sent in the time period
    Engaged Openers Clickers Unengaged Flirting Gone Clicks 0 1 2-3 4-7 8+ 0 1 2 3+ New Not opened last quarter either Opens
  • Purchase Engagement
    • 1st Purchase
    • 2nd Purchase
    • Lapsed
  • Save, learn or reactivate
    • Save the customer
    • Find out why they are unsubscribing
    • Attempt to reactivate dead addresses
  • Recap - Databases are:
    • Growing databases with quality addresses increases the monetised value of your database and justifies investment in relevance
    • Fresh databases gives you better insight into your customers and gives you a better sense of your real performance
    • Quick databases allows you to market to customers at the right time i.e. when they are ready
    • Deep databases with rich customer information gives you better insight and makes it easier to improve the relevance of your communications
    • Active databases allow you to understand when and what to market to your most interested customers