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Digital Marketing Channel - Choosing the Right Mix
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Digital Marketing Channel - Choosing the Right Mix

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  • 1. Using the Appropriate Channel By Fahmi Mohammed
  • 2. The Customer of the Future• Connecting to the insurance customer is becoming more difficult• Customers prefer interaction point choices• Consumers don’t want information to be channelled; they want to interact with their providers The Customer of the Future is Diverse and Multimodal Confidential
  • 3. How Customers Explore & Purchase Source: Institute for Business Value (IBM)• Slightly more than 20% of consumers use only a single point of interaction for searching and purchase insurance products.• Proves that a ‘channel strategy’ (Eg. Agent Network Based only) is less fruitful
  • 4. Mix & Match Interactions Informed Security- I don’t need I take time to research to oriented Optimizer Individualist personal advice find the best I need personal Demandin Support- g Support- seeking Need advice but prefer advice seeker Skeptio distance from my insurer Price- Loyal I trust my I’m price sensitive & don’t want oriented Quality- insurer & remain to pay for unneeded support Minimalist seeker a loyal customer Customer Profile Types Source: Institute of Business Value• Takaful providers should segment their customers – based on psychographics and not just demographics in order to get closer• By knowing the psychographics of customers, adopt marketing approach that matches customers’ preference.
  • 5. The Digital Marketing Mix Search Affiliates Display WEB Mobile Email Social Confidential
  • 6. The Sales Funnel – A User’s Journey • High Volume Display / Social • High Brand Visibility • Low Direct Conversion % Search • High Click Cost (Paid & Natural) Affiliates (Cash back/Voucher Codes) • Low Click Cost • Volume influenced by visibility at Brand Search start of funnel (‘Direct Travel’) • Very High Conversion % Conversion Email & Social Retention
  • 7. Display and Social Channels Brand engaging with its Fans• Disruptive• High reach & visibility• Suitable for Branding & Engagement• Google Display Network, Real Time Bidding, Ad Networks
  • 8. Search Channel Natural Search Paid Searchdetermined by relevance determined by and authority auction model • Paid Search • Instant first page placement • You only advertise to people who are actively searching for your product/service • You only pay when they respond – when they click through to your site• Pricing is determined by an on-going, real-time auction based on true market values
  • 9. Affiliates Channel• Cost-effective Customer Acquisition – seller only pays on performance/sale.• Fixed cost due to a CPA model.• Affiliates can secure high ranking on search engines giving additional free brand visibility.• Affiliate marketing gives transparency on the return on investment ROI Confidential
  • 10. Email Marketing Channel• Allows targeting (Retention)• Data driven• Drives direct sales• Builds relationships, loyalty and trust• Supports sales through other channels
  • 11. Tracking Your User’s Journey Villain Channels Hero Channels Search, RTB & Display, Social & Affiliates Generic Search • Key Success Efficient • Key Success Metric: Assisted Metric: Last ROI Click Conversions Conversions• These channels • These channels get all • Key is to track contribute to sales but the glory and report on get no recognition for • Spend is pumped into the influence their role these channels but Villain Channels• Typically this results in volume plateaus are hit are playing in under spending on very quickly as Villain your users these channels channels are ignored and journey no traffic is coming in at the top of the funnel
  • 12. Growing Visibility Channel Best PPC, Display & SEO best practice Practice Operate at Maximise Channel Higher CPA Conversion Optimisations Maximise Retention CRM Strategy Confidential
  • 13. Mobile’s Growing Faster than Anyone Expected• Search behaviour and motivations differ on Mobile & Tablets compared to Desktop• Potential Return is Medium to High• Mobile traffic will reach 20% to Desktop by End of 2012. (Source: Google) Confidential
  • 14. Any Questions? Fahmi Mohammed Absorb Digital Ltd Tel: +44 (0)207 193 3755 Email: fahmi@absorb-digital.com www.absorb-digital.com Twitter: @Absorb_Digital Confidential