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6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
 

6 Implementing Your Multichannel Strategy Profitable Multi Channel Marketing March 2010

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Implementing Your Multichannel Strategy

Implementing Your Multichannel Strategy
Pulling together the day’s sessions; we will look at the practical issues of strategy; its implementation and measuring its success.

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    6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010 6 Implementing Your Multichannel Strategy Profitable Multi Channel Marketing March 2010 Presentation Transcript

    • Implementing Your Multichannel Strategy
    • The basics
    • Put simply New Customers (n) Lapsed Customers (l) Active Customers
    • Put simply New Customers (n) Lapsed Customers (l) n>l= growth Active Customers
    • New customers drive growth Number of New Customers Cost per New Customer Value of New Customer
    • You can increase their value Number of New Customers Cost per New Customer Value of New Customer
    • Increased customer value Lower Costs Responsiveness Value of Customer
    • You can reduce acquisition costs Number of New Customers Cost per New Customer Value of New Customer
    • You can do both! Number of New Customers Cost per New Customer Value of New Customer
    • Creating the virtuous circle
    • Implementing your strategy
    • Implementing your strategy Data infrastructure
      • Within any campaign - the ability to
        • Load detailed plan including costs
        • Import actual results
        • Report actuals against plan
        • Highlight differences
        • Load plan modifications maintaining the initial baseline
      • Post campaign - the ability to
        • Analyse customer performance
        • Merchandise performance
        • Channel performance
        • Promotion / Media performance
    • Implementing your strategy Data infrastructure
      • If you don’t have the capability in-house to:
        • Manage the data
        • Carry out the analysis and interpretation
      • Outsource it
    • Implementing your strategy Planning
      • Build a bottom up plan based on your strategy & budget
        • Customer acquisition
          • By activity
          • By channel
          • Forecast response (thus new customers)
          • Forecast revenue
          • Forecast costs
          • Time based
        • Customer development and retention
          • By activity
          • By channel
          • By segment
          • Forecast revenue
          • Forecast costs
          • Time based
        • Testing activities
          • What are you planning to test
          • What volumes do you require
          • Where are these coming from
          • Is anyone left!
      • Does the plan demonstrate the expected level of growth & profitability?
    • Implementing your strategy Planning
      • If not, rework the plan
      • Important that build is as ‘granular’ as possible so that reworking is ‘easy’
    • Implementing your strategy Planning
      • Once plan is ‘agreed’.
        • Finalise timelines for all activities
        • Confirm costs / forecasts
        • Ensure operational infrastructure will support plan
    • Implementing your strategy Brand, message and creative
      • Consistency of brand, message and creative is incredibly important in multi-channel marketing
      • It’s detailed and requires careful management
      • Over complicating messages and creative treatment can lead to increased costs / performance failures
      • Consider the elements to be controlled
        • Display banners
        • Affiliate ads
        • PPC ads
        • Landing pages
        • Inserts
        • Space ads
        • Offers and promotions
        • …………………… .
      • Not everyone has a sophisticated CMS system
    • Implementing your strategy Brand, message and creative
      • As part of ongoing planning process:
        • Develop a channel specific creative plan with list of all relevant creative elements
        • Develop an overall promotional plan showing planned activities by relevant period
        • Ensure brand values are clearly communicated both internally and to all external agencies
      • And then:
        • Ensure that the creative timetable and approvals process allows time for all final creative to be purposed for all channels
    • Implementing your strategy Create ‘tracking’ infrastructure
      • A key element of managing your strategy and measuring performance against your plan is the ability to track the source and cost of as high a percentage of transactions as possible.
      • Planning and implementing this is another detailed task. e.g:
        • Create media codes for all mailed media
        • Create promotional codes for all offers
        • Ensure GA (or whatever web analytics tool) reporting can report ‘source and keyword’ against web transaction ID
        • Carry web transaction ID through to in house OP system and match to business order ID
        • Ensure all e-mail campaigns coded to allow tracking of orders
        • Ensure PPC and Affiliate reporting correctly implemented
        • Ensure costs for all activities have been / can be captured
      • Ensure that all codes are correctly applied to media
      • Ensure that this data is captured
    • Implementing your strategy Get underway!
      • You’ve got to start sometime!
      • So get going.
    • Implementing your strategy Measurement and analysis
      • Different activities have differing timescales for measurement and adjustment.
        • Web activities or retail can be reviewed and changed very quickly
        • Paper based marketing, and particularly catalogues have a much longer lifetime
      • Play to the strengths of the different channels
        • Use e-mail, web offers, merchandising on web for quick, tactical activities
        • Use them to generate excitement and time limited offers
    • Implementing your strategy Measurement and analysis
      • Develop ‘dashboard’ reports to show general direction and flag performance against KPIs
      • Ensure there are clear responsibilities for monitoring detailed performance within campaigns and channels
      • Be ruthless in reviewing out non performing activities and either retesting or cutting
      • But … ensure that tests are run correctly and to completion so that lessons can be drawn
    • Implementing your strategy Measurement and analysis
      • And then start to work out what’s going on!
      • Which is where the move from data and analysis to interpretation occurs
    • Implementing your strategy Measurement and analysis – interpretation
    • Implementing your strategy Measurement and analysis – interpretation
    • Implementing your strategy Measurement and analysis – matchback issues
    • Implementing your strategy Measurement and analysis – interpretation
    • Implementing your strategy Measurement and analysis – interpretation
      • And don’t forget that all this ‘direct’ activity will drive store traffic as well
      • Measure this by
        • Vouchers
        • Address collection
        • surveys
    • Implementing your strategy Measurement and analysis – interpretation
      • Don’t be taken in by the ‘apparent’ accuracy of the data
      • Rather than one view there are a series of views to be interpreted
      • Understanding these requires a variety of techniques and analyses
      • For example, in Week 2
        • 2,900 orders could be matched back to people who were e-mailed
        • and 2,900 orders could be matched back to people who were mailed
        • But there were only 2,900 orders!
    • Implementing your strategy And once you’ve done it
      • Analyse
      • Review
      • Start all over again – only better!
    • Implementing Your Multichannel Strategy