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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
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
6   Implementing Your Multichannel Strategy    Profitable Multi Channel Marketing   March 2010
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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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 <ul><li>Within any campaign - the ability to </li></ul><ul><ul><li>Load detailed plan including costs </li></ul></ul><ul><ul><li>Import actual results </li></ul></ul><ul><ul><li>Report actuals against plan </li></ul></ul><ul><ul><li>Highlight differences </li></ul></ul><ul><ul><li>Load plan modifications maintaining the initial baseline </li></ul></ul><ul><li>Post campaign - the ability to </li></ul><ul><ul><li>Analyse customer performance </li></ul></ul><ul><ul><li>Merchandise performance </li></ul></ul><ul><ul><li>Channel performance </li></ul></ul><ul><ul><li>Promotion / Media performance </li></ul></ul>
  • 13. Implementing your strategy Data infrastructure <ul><li>If you don’t have the capability in-house to: </li></ul><ul><ul><li>Manage the data </li></ul></ul><ul><ul><li>Carry out the analysis and interpretation </li></ul></ul><ul><li>Outsource it </li></ul>
  • 14. Implementing your strategy Planning <ul><li>Build a bottom up plan based on your strategy &amp; budget </li></ul><ul><ul><li>Customer acquisition </li></ul></ul><ul><ul><ul><li>By activity </li></ul></ul></ul><ul><ul><ul><li>By channel </li></ul></ul></ul><ul><ul><ul><li>Forecast response (thus new customers) </li></ul></ul></ul><ul><ul><ul><li>Forecast revenue </li></ul></ul></ul><ul><ul><ul><li>Forecast costs </li></ul></ul></ul><ul><ul><ul><li>Time based </li></ul></ul></ul><ul><ul><li>Customer development and retention </li></ul></ul><ul><ul><ul><li>By activity </li></ul></ul></ul><ul><ul><ul><li>By channel </li></ul></ul></ul><ul><ul><ul><li>By segment </li></ul></ul></ul><ul><ul><ul><li>Forecast revenue </li></ul></ul></ul><ul><ul><ul><li>Forecast costs </li></ul></ul></ul><ul><ul><ul><li>Time based </li></ul></ul></ul><ul><ul><li>Testing activities </li></ul></ul><ul><ul><ul><li>What are you planning to test </li></ul></ul></ul><ul><ul><ul><li>What volumes do you require </li></ul></ul></ul><ul><ul><ul><li>Where are these coming from </li></ul></ul></ul><ul><ul><ul><li>Is anyone left! </li></ul></ul></ul><ul><li>Does the plan demonstrate the expected level of growth &amp; profitability? </li></ul>
  • 15. Implementing your strategy Planning <ul><li>If not, rework the plan </li></ul><ul><li>Important that build is as ‘granular’ as possible so that reworking is ‘easy’ </li></ul>
  • 16. Implementing your strategy Planning <ul><li>Once plan is ‘agreed’. </li></ul><ul><ul><li>Finalise timelines for all activities </li></ul></ul><ul><ul><li>Confirm costs / forecasts </li></ul></ul><ul><ul><li>Ensure operational infrastructure will support plan </li></ul></ul>
  • 17. Implementing your strategy Brand, message and creative <ul><li>Consistency of brand, message and creative is incredibly important in multi-channel marketing </li></ul><ul><li>It’s detailed and requires careful management </li></ul><ul><li>Over complicating messages and creative treatment can lead to increased costs / performance failures </li></ul><ul><li>Consider the elements to be controlled </li></ul><ul><ul><li>Display banners </li></ul></ul><ul><ul><li>Affiliate ads </li></ul></ul><ul><ul><li>PPC ads </li></ul></ul><ul><ul><li>Landing pages </li></ul></ul><ul><ul><li>Inserts </li></ul></ul><ul><ul><li>Space ads </li></ul></ul><ul><ul><li>Offers and promotions </li></ul></ul><ul><ul><li>…………………… . </li></ul></ul><ul><li>Not everyone has a sophisticated CMS system </li></ul>
  • 18. Implementing your strategy Brand, message and creative <ul><li>As part of ongoing planning process: </li></ul><ul><ul><li>Develop a channel specific creative plan with list of all relevant creative elements </li></ul></ul><ul><ul><li>Develop an overall promotional plan showing planned activities by relevant period </li></ul></ul><ul><ul><li>Ensure brand values are clearly communicated both internally and to all external agencies </li></ul></ul><ul><li>And then: </li></ul><ul><ul><li>Ensure that the creative timetable and approvals process allows time for all final creative to be purposed for all channels </li></ul></ul>
  • 19. Implementing your strategy Create ‘tracking’ infrastructure <ul><li>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. </li></ul><ul><li>Planning and implementing this is another detailed task. e.g: </li></ul><ul><ul><li>Create media codes for all mailed media </li></ul></ul><ul><ul><li>Create promotional codes for all offers </li></ul></ul><ul><ul><li>Ensure GA (or whatever web analytics tool) reporting can report ‘source and keyword’ against web transaction ID </li></ul></ul><ul><ul><li>Carry web transaction ID through to in house OP system and match to business order ID </li></ul></ul><ul><ul><li>Ensure all e-mail campaigns coded to allow tracking of orders </li></ul></ul><ul><ul><li>Ensure PPC and Affiliate reporting correctly implemented </li></ul></ul><ul><ul><li>Ensure costs for all activities have been / can be captured </li></ul></ul><ul><li>Ensure that all codes are correctly applied to media </li></ul><ul><li>Ensure that this data is captured </li></ul>
  • 20. Implementing your strategy Get underway! <ul><li>You’ve got to start sometime! </li></ul><ul><li>So get going. </li></ul>
  • 21. Implementing your strategy Measurement and analysis <ul><li>Different activities have differing timescales for measurement and adjustment. </li></ul><ul><ul><li>Web activities or retail can be reviewed and changed very quickly </li></ul></ul><ul><ul><li>Paper based marketing, and particularly catalogues have a much longer lifetime </li></ul></ul><ul><li>Play to the strengths of the different channels </li></ul><ul><ul><li>Use e-mail, web offers, merchandising on web for quick, tactical activities </li></ul></ul><ul><ul><li>Use them to generate excitement and time limited offers </li></ul></ul>
  • 22. Implementing your strategy Measurement and analysis <ul><li>Develop ‘dashboard’ reports to show general direction and flag performance against KPIs </li></ul><ul><li>Ensure there are clear responsibilities for monitoring detailed performance within campaigns and channels </li></ul><ul><li>Be ruthless in reviewing out non performing activities and either retesting or cutting </li></ul><ul><li>But … ensure that tests are run correctly and to completion so that lessons can be drawn </li></ul>
  • 23. Implementing your strategy Measurement and analysis <ul><li>And then start to work out what’s going on! </li></ul><ul><li>Which is where the move from data and analysis to interpretation occurs </li></ul>
  • 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 <ul><li>And don’t forget that all this ‘direct’ activity will drive store traffic as well </li></ul><ul><li>Measure this by </li></ul><ul><ul><li>Vouchers </li></ul></ul><ul><ul><li>Address collection </li></ul></ul><ul><ul><li>surveys </li></ul></ul>
  • 29. Implementing your strategy Measurement and analysis – interpretation <ul><li>Don’t be taken in by the ‘apparent’ accuracy of the data </li></ul><ul><li>Rather than one view there are a series of views to be interpreted </li></ul><ul><li>Understanding these requires a variety of techniques and analyses </li></ul><ul><li>For example, in Week 2 </li></ul><ul><ul><li>2,900 orders could be matched back to people who were e-mailed </li></ul></ul><ul><ul><li>and 2,900 orders could be matched back to people who were mailed </li></ul></ul><ul><ul><li>But there were only 2,900 orders! </li></ul></ul>
  • 30. Implementing your strategy And once you’ve done it <ul><li>Analyse </li></ul><ul><li>Review </li></ul><ul><li>Start all over again – only better! </li></ul>
  • 31. Implementing Your Multichannel Strategy

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