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Harnessing Customer Feedback & Taking Action On It “It was nice to be recognized by the airline but being part of this company’s social network meant more to me than they would ever know. You see, by participating, I was constantly encouraged and inspired to start my own travel blog and create my online alter- ego @mrsoaroundworld. I made some valuable business connections and authentic friendships. The people in the Quality Hunters community were the first ones to read my new blog and spread the word. It rapidly became a very popular site for tales of luxury travel.” Ana Silva O’Reily
The Starbucks Experience • 2010 mobile marketer/year • 26 million mobile transactions • $110 million card reloads
Three Eras of Modern Marketing• Creative era • 1960’s and 70’s • Advertising centric • e.g., The Marlboro Man, Where’s the Beef?• Direct era • Database marketing direct to the consumer • 1% response rates = profitability• Relevance era • A relevant message to each customer segment in the relevant channel
It’s All About Relevance• 1978 consumers 2,000 ad messages/day• 2007 consumers 5,000 ad messages/day• 2010 consumers 16,000 ad messages/day 95% open rates possible 5% with highly open rate typical relevant with irrelevant messaging messaging
The Cost of Irrelevant Messaging• 41% of consumers say theywould consider ending a brandrelationship owing to irrelevantpromotions• An additional 22% say theywould defect from the brandrelationship due to irrelevance• 58% of brand’s marketingcontent is not relevant topotential buyers, reducingbrands’ chances of a sale by45%
Forces Behind DDM• Economics • Consumers affected by down economy scrutinize purchases • Customer loyalty is more important to brands than ever before • Marketing budgets are under heavy scrutiny in C suite
Forces Behind DDM• Intensifying competition • Lower barriers of competitive entry in digital age • Competitors experimenting with social media, email, content, behavioral marketing campaigns • The WOW factor…Consumers expect to be wowed…
The Power of Data Driven MarketingThe data (precision) marketing framework relies heavily onseveral key factors, starting with the collection andanalysis of data. Analyze and Model Determine Deploy Objective Measure
DDM Business Results• Increased revenue• Customer retention• ROI in marketing expenditure
It’s All About the CustomerRelevance will close the chasmbetween creative and directmarketing, leveraging customerinsights to produce truly valuablecontent and communication thatengages the buyer through highlyrelevant customer touch points.
Moneyball Marketing at Tampa Int’l Airport Objective: Attract more direct routes to major cities 1 new non-stop air route to major city has $154 M economic impact, 1200 jobs.
Moneyball Marketing at Tamp Int’l Airport Objective: Attract more direct routes to major cities 35% of Pinellas hotel guests rented cars in Orlando Tampa, St. Pete, Sarasota effective buying rate of $96B TPA is within 1 hour drive for 3.5 million people
Moneyball Marketing at Tamp Int’l Airport Objective: Attract more direct routes to major cities More than 30 Tampa Bay companies do business with Switzerland. 24 Swiss companies like Nestle SA, Credit Suisse Group AG and Zurich Financial Services that have subsidiaries in Tampa Bay. Many European travelers fly to Orlando but end up in Tampa Bay: 35 percent of Pinellas beach-goers rented cars in Orlando.
Moneyball Marketing at Tamp Int’l Airport Tampa International Airport has secured new daily routes to Cuba and Switzerland this year. British Airways also added two flights a week and now flies daily.
What’s Next for You?• How connected are your customers?• What stage are you in?• What is your competitive position?• How vulnerable are you?• How connected are your employees?• Do you use social technology?• What kind of experience can you create?• How do you currently use data?
Sources Precision Marketing by Sandra Zoratti, Lee Galagher http://precisionmarketingbook.com/
Sources CMO Council, Why Relevance Drives Response and Relationships; Using the power of Precision Marketing to better engage customers, 2009. Michael Cannon, Nine Silver Bullets to Increase Marketing’s Relevance, Silver Bullet Group, Walnut Creek, CA 2010 The Economist, A Special Report on Managing Information, February 2010. Jenny Davey, Every little of data helps Tesco rule retail, Sunday Times (London), October 4, 2009 Tampa International Airport playing its own version of “Moneyball,” to bring in new business, Tampa Bay Times, September 2, 2012 IBM Social Business: http://www.youtube.com/watch?v=Af- y81e-i6U&feature=youtu.be
Sources Ana Silva O’Reilly, Grow Community: http://www.businessesgrow.com/2012/07/10/case- study-finnair-puts-social-media-community-to-work/ Three Stages of Social Media study: http://www.slideshare.net/colleencar/increasing- social-media-roi-using-gladwells-tipping-point- framework-4539106 IBM Highlights of Chief Executive Officer Global Study: http://public.dhe.ibm.com/common/ssi/ecm/en/gbe034 86usen/GBE03486USEN.PDF
Bernie Borges CEO, Find and Convert Transformational Digital Marketing firstname.lastname@example.org http://www.findandconvert.comStrategy Execution Results Support
My Digital TV Show http://inbound.findandconvert.com/advance-your-social-business-journey/