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Customer Acquisition - Developing and Executing Integrated Campaigns
 

Customer Acquisition - Developing and Executing Integrated Campaigns

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    Customer Acquisition - Developing and Executing Integrated Campaigns Customer Acquisition - Developing and Executing Integrated Campaigns Presentation Transcript

    • The Art and Science of Customer Acquisition DMA (Northern California) Presentation Pritham Krishnan
    • Agenda • Meta themes that are disrupting marketing • Customer Acquisition – Focus on knowing your prospects – Role of brand – Designing and executing an integrated acquisition program • Overview of business development 12/11/13 2
    • It’s a great time to be a marketer! Five meta themes that are collectively disrupting marketing 1 2 3 Channels Experiences Marketing platforms 4 Data 5 • Significant change unfolding within each area • Cumulative impact of change = significant disruption • Significant disruption = Opportunity • Marketing, as a function • Companies, in how they engage with their customers and prospects Processes 12/11/13 • You, as a marketing professional! 3
    • It’s a great time to be a marketer! Increasing number of channels, increasingly interconnected, to engage consumers 1 Channels 2 Experiences 3 Marketing platforms Paid 4 Data Earned 5 12/11/13 Owned Processes 4
    • It’s a great time to be a marketer! Marketers increasingly orchestrating all parts of the customer experience, across more touch points 1 Channels 2 Experiences 3 Marketing platforms 4 Data 5 Processes 12/11/13 5
    • It’s a great time to be a marketer! Rapidly evolving marketing technology landscape offers a variety of solutions, with the promise of more to come 1 Channels 2 Experiences 3 Marketing platforms 4 Data 5 Processes Source: Lumascape 12/11/13 6
    • It’s a great time to be a marketer! “Moneyball marketing” 1 Channels 2 Experiences 3 Marketing platforms 4 Data 5 The Data Deluge Evolving data capabilities to deal with • Volume, Velocity, Variety • Structured, Unstructured Processes Source: Economist - graphic 12/11/13 7
    • It’s a great time to be a marketer! Nimble, rapid and data driven approaches to go to market 1 Channels 2 Experiences 3 Marketing platforms 4 Data 5 Processes Source: ChiefMartech 12/11/13 8
    • Where do we begin? Focus on the customer –who do we target and what are their needs? Who do we target? What are their needs? Segmentation of prospect universe… Developing personas Understanding shopping journey • Iterative process with internal and external data to arrive at key target segments • Demos, assets, investing behavior • Alignment with all key internal stakeholders to prioritize budget and resources …allows for a focused approach House holds (US) • Needs and pain points • Media consumption Value • Identification of needs that can credibly be met Target segments Target segments are <1/3 of US HHs, and have 90%+ of value 12/11/13 • Qualitative and quantitative primary and secondary research, to identify: All US Target HHs segments Highly desirable subsegments • Informs messaging, and articulation of emotional/ rational benefits • Triggers & engagement • 20+ touch points, most are not “paid” or “owned” • Role of influencers at different stages • Shopping/research treadmill –how to short circuit? 9
    • The role of brand in acquisition More magic / less logic • Schwab is a classic disrupter • Democratized investing for the masses • On the side of the individual investor ….moving beyond “arts and crafts”? • Marketing mix modeling & optimization: What did we get for our advertising spending and how much (more) should we spend? • Cumulative impact vs incremental spend in one year, media vs promotions, spend by segment, channel, geo, etc. KPI • Extremely strong brand -continue to evolve the “big idea” to connect emotionally with prospects: OR (AND) ative Illustr Total spend • Continue to challenge the industry on breadth & sophistication of offers, pricing and transparency • Up against • Investor cynicism, lack of trust, inertia • “Sea of sameness” among competitors • Macro economic conditions 12/11/13 • Marketers have a seat at the table but 70% of CEOs have lost faith in marketers ability to deliver growth from existing or new customers • 69% of B2C CEOs believe B2C marketers too focused on creative and social media • 71% of B2B CEOs believe that B2B Marketers are focused on the latest marketing technologies to generate customer demand but don’t deliver Source: Fournaise Marketing Report 10
    • Integration: Gap between marketers’ & consumers’ perception of integrated delivery Inside-out view: None Less than half Marketers’ perception of About own integrated half marketing programs1 Most brands, 19% Don’t know, not sure Unsatisfactory 32 %% Fair 16% Excellent 6 6 % % Quality of integrated marketing programs Development All brands, & execution of 51% products & integrated 6% services marketing programs 19% Good 36% Very good 36% products & services 85% Ideal Current Outside-in view: Shoppers want integration, retailers and marketers not delivering it2 72% 50% 39% Consistency in shopping experience across channels Sources: 1. ANA research; 2. 4th annual consumer Insights survey (Star Group, 2011) 12/11/13 Consistency in marketing messages across channels 11
    • Integrated campaigns can span a spectrum of complexity 1 “The Draper” • Big idea, matching luggage • Develop big idea for TV, translate for other media using same look and feel 12/11/13 Unified “seasonal” or umbrella theme Individual campaigns run independently 2 2-3 marketing channels complimenting each other e.g. paid search and social, or paid search and organic search 3 Large scale multi channel integrated prospect experience, under an umbrella campaign, targeting a specific audience 12
    • Integrated cross-channel campaign to drive target segments to offline events, thereby increasing conversion Engagement (offline) Awareness & Consideration (online/offline) Follow up and Conversion Digital • One central message theme each quarter • Themes based on research insights into target segment needs and pain points Print Search Branch Event (Thematic Workshop) Direct Mail Landing pages Website Lead Capture PR Outbound Phone teams Phone teams Branch personnel Branche s in multiple markets Branch registration Email Branch merchandising Geo targeted approach to drive quality leads to branches 12/11/13 Speaker Event Follow-Up Consultation Educational Resources (support branch & speaker events) Work with functional leads on workshop themes, content, speaker selection, schedule, collateral Provide multiple opportunities to engage with experts and financial consultants Ensure follow up to drive conversion 13
    • Program performance tracked at each step of the process Demand Gen Activities Media Plan (prospects & clients) Call phone team* FSI Banner Ads Paid Search PR Prospects/ Clients Client focus outbound Client focus inbound Website Landing Page Registration Form Registrations Attended Workshop Follow Up Activities Conversion Funding Outbound Calls (clients only) Email (clients only) Inbound call team Call phone team* Integrator role coordinated across 17 groups to design, launch and track all program efforts Branch walk ins •Dedicated phone numbers allowed for tracking from various demand gen efforts, from each geographic area •Note: not all channel s represented in illustration 12/11/13 14
    • Significant analytics required to set up and execute the program, and determine overall success Pre-launch During campaign Post campaign lift analysis • Geo Targeting • Propensity models Client Prospect Total Difference before marketing KPI Market and branch selection for media and events , based on access to and presence of target segment Weekly Tracking Key Metrics Clicks Banners (#, CTR) Search Landing page visits OBC Calls (#) Inbound (PDT) Emails (oX clients only ) Registrations # Attendees % of registrants Follow up Phone calls activity (w Branch visits Other attendees ) Follow up Phone calls activity (w Branch visits nonattendees Other Total # people followed up with Conversions # % of attendees # in WH # in advice NNA (to end Total 90 days post Average Median campaign) Identifying target audience 12/11/13   Difference due to marketing Difference after marketing  Monthly Analysis NNA Lift Analysis Annuitized assets (against New accounts control (NTF) New accounts markets) (existing clients) Return on Investment • Demand Generation Related • Lead nurture • Key business outcomes   Time • Across Full Campaign • By Market • By Branch  Test Branch  Matched Control Branches 15
    • Challenges with executing on large integrated programs can be mitigated via various tools, practices and process Potential approaches/practices Challenges • Integration starts at the top Insufficient marketing budget Stakeholder alignment Existence of functional silos Lack of strategic consistency across communications disciplines Developing the big creative idea to leverage across all marketing disciplines 56 48 43 Inability to collect & analyze 37 customer data 35 32 Lack of standard measurement 32 27 process times required for some Long lead 26 elements of program 26 Lack of skill set among marketing staff Amount of time devoted to coordinating various agency efforts Lack of executional consistency Source: ANA 12/11/13 • Sr. executive alignment (incl sales)  commitment to resources, prioritization • Alignment on insight, positioning and brief  drives all execution • Integrated program lead Roles & responsibilities • Level of integration needed across functions (and within functions) • RACI Process & deliverables Project management • Multiple processes, given complexity and number of functions/teams involved • Define, communicate and align clearly • Project plan with agreed upon timeline, milestones, deliverables and owners • Weekly status check ins – live + email • Know the long poles in the tent, bottlenecks, critical paths 16
    • Partnerships as a marketing channel Partnerships can bring brands together to create mutually beneficial relationships that help in achieving both partners’ business objectives. McDonalds & Coca Cola Partnerships can meet various organizational goals Starbucks & Apple Access to a distinct new audience American Express & CostCo Distribution through distinct a new channel Star Alliance Gaining access to new markets Filling gaps in a companies offerings AT&T & DirecTV 12/11/13 Creating innovation in emerging growth categories Walmart & American Express 17
    • Potential relationships are sourced within relevant categories, and are subject to significant due diligence Partner Categories/relevance scale Require relationships of increasing size Financial Services * Life Event based Affinity based Content distribution in adjacent spaces 12/11/13 Other relationships (Interests - travel, sports) Evaluation Criteria • Brand alignment • Economics: lower cost channel • Scale • Growth • Target audience and access • Contextual relevance • Deal structure • Infrastructure needs • Compliance & Regulatory related: • Adverse events • Advice/Client Experience • Disclosures • Privacy 18
    • One size does not fit all, and each relationship requires a lot of nurturing Categories Rationale Type of relationship • Affiliate relationship • Joint content development and events Financial Services Partners Life Event Partners A a specific financial need exists • Target with contextually relevant message Affinity Based Partners Endorsed by a trusted name • Multi channel test and learn via print, digital, direct mail, live (workshops, large events) Content Partners 12/11/13 Highly engaged Distribution channels for content • 3rd party content distribution • Licenseing technology/tools/widgets 19
    • Thank you for coming! 12/11/13 20