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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  • 1. Implementing Your Multichannel Strategy
  • 2. The basics
  • 3. Put simply New Customers (n) Lapsed Customers (l) Active Customers
  • 4. Put simply New Customers (n) Lapsed Customers (l) n>l= growth Active Customers
  • 5. New customers drive growth Number of New Customers Cost per New Customer Value of New Customer
  • 6. You can increase their value Number of New Customers Cost per New Customer Value of New Customer
  • 7. Increased customer value Lower Costs Responsiveness Value of Customer
  • 8. You can reduce acquisition costs Number of New Customers Cost per New Customer Value of New Customer
  • 9. You can do both! Number of New Customers Cost per New Customer Value of New Customer
  • 10. Creating the virtuous circle
  • 11. Implementing your strategy
  • 12. 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
  • 13. 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
  • 14. 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?
  • 15. Implementing your strategy Planning
    • If not, rework the plan
    • Important that build is as ‘granular’ as possible so that reworking is ‘easy’
  • 16. Implementing your strategy Planning
    • Once plan is ‘agreed’.
      • Finalise timelines for all activities
      • Confirm costs / forecasts
      • Ensure operational infrastructure will support plan
  • 17. 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
  • 18. 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
  • 19. 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
  • 20. Implementing your strategy Get underway!
    • You’ve got to start sometime!
    • So get going.
  • 21. 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
  • 22. 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
  • 23. 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
  • 24. Implementing your strategy Measurement and analysis – interpretation
  • 25. Implementing your strategy Measurement and analysis – interpretation
  • 26. Implementing your strategy Measurement and analysis – matchback issues
  • 27. Implementing your strategy Measurement and analysis – interpretation
  • 28. 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
  • 29. 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!
  • 30. Implementing your strategy And once you’ve done it
    • Analyse
    • Review
    • Start all over again – only better!
  • 31. Implementing Your Multichannel Strategy