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Stop Marketing Blind : How Behavioral Marketing Will Change Your World
 

Stop Marketing Blind : How Behavioral Marketing Will Change Your World

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A personal story about

A personal story about

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  • Full Name Full Name Comment goes here.
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  • Nice on John. I remember talking about segments of one a few years ago, but there are still many marketers struggling with basic segmentation, especially in technology companies where the products tend to overwhelm them.
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  • Great presentation John! I love the storytelling :) Will check out Silverpop for my clients.

    (mini tip: don't put links at the far left or right of SlideShare presentations as on slide 64 because people may not be able to click them unless in full screen mode!)
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    Stop Marketing Blind : How Behavioral Marketing Will Change Your World Stop Marketing Blind : How Behavioral Marketing Will Change Your World Presentation Transcript

    • Stop marketing blind. How Behavioral Marketing will change your world and make you a lot more like Bob.
    • Marketing practice is ten years behind marketing vision. Let’s face it….
    • Here’s a little story that shows what I mean.
    • This is me, A fortysomething Marketing Manager. I live in West London I like my wine*. * In a kind of a cool, metrosexual way not in a ‘problem’ way…* (* I hope)
    • This is Bob, He owns Bob’s Wines, my local wine shop.
    • Here’s the thing about me and Bob… 1 I spend 5x more at Bob’s than I do in my supermarket (which is famous for its wine department). Bob Waitrose
    • 1 2 I spend 5x more at Bob’s than I do in my supermarket (which is famous for its wine department). Every time I go in, I tend to spend 30- 200% more than I planned. Here’s the thing about me and Bob… Bob Waitrose Bob Waitrose
    • 1 2 I spend 5x more at Bob’s than I do in my supermarket (which is famous for its wine department). Every time I go in, I tend to spend 30- 200% more than I planned. 3 And I love it. Here’s the thing about me and Bob… Bob Waitrose Bob Waitrose Bob Waitrose
    • Why? Because Bob knows everything about me.
    • Because Bob knows everything about me. I eat a lot of meat. I hate oaky Chardonnay My five favorite Spanish reds I secretly covet a certain Super-Tuscan I love Rioja My birthday is coming up I tend to spend £15 per bottle My wife loved that Rosé from last week I love cooking Spanish food Pinot Noir bores me witless
    • Marketing needs to get more like Bob. P R O F I T S I M I L A R I T Y TO B O B
    • Every step closer to Bob- ness increases every metric that matters. Traffic, conversion rates, email opens, click- throughs, loyalty, repeat purchase, lifetime value… The more Bob-like your marketing gets the more you will sell.
    • But today, marketing is painfully un-Bobular.
    • If Bob were a typical marketer instead of the world’s best wine salesman… He wouldn’t say, “Hey John, how’d you get on with that Riesling?” He’d say, “Hello potential customer. This is a wine shop. White or red?”
    • The good news: we’re on the way B R OA D C A S T TA R G E T I N G S E G M E N T I N G P E R S O N A L I S I N G
    • The good news: we’re on the way B R OA D C A S T TA R G E T I N G S E G M E N T I N G P E R S O N A L I S I N G We’re all marketing in a far more sophisticated way than just a few years ago…
    • Most of us are segmenting our audiences. That’s good. College Educated With Kids College Educated With Kids College Educated With Kids Female Homeowner Male 30-40 Male 30-40 Male 30-40 Female Homeowner Female Homeowner
    • But mostly, we’re segmenting into big buckets. We need to make these segments smaller and smallerand smaller and smaller and smaller and smaller.
    • The goal: segments of 1
    • Then you’re really talking to each person as an individual. And using the things you know about that individual to have a MUCH more intelligent, relevant interaction. Like Bob would.
    • That’s made possible by Behavioral Marketing. And it’s the most exciting leap in marketing since email…
    • Behavioral Marketing just means: using what you know about customers to better meet their needs.
    • Today, marketers tend to target messages using two things: How do you like your Email? Text HTML 1 2 Profile Preference
    • But there’s a much, much bigger win: targeting by behavior.
    • Your customers are telling you all about themselves and their needs and their interests every time they interact with you.
    • And the insight you can derive from this data is by far the best guide for personalizing the customer experience.
    • If you do that, your messages have a shot at getting heard above all the…
    • Noise We’re all exposed to about 30,000 messages a day.
    • Insight = Gold In short:
    • Apply rulesYou apply rules Capture behavior from any channel Combine with existing knowledge from profiles, preferences and past actions across all channels Generate the best, most personalised interaction And most relevant track across all channels Measure and store learning to inform rules It’s a really simple idea You capture action You generate the best, interaction
    • Apply rulesCapture behavior from any channel Combine with existing knowledge from profiles, preferences and past actions across all channels Generate the best, most personalised interaction And most relevant track across all channels Measure and store learning to inform rules And you can refine that really simple idea: Capture behavior Combine with existing knowledge Generate the best, most personalised interaction Measure
    • And then turbo-charge it. Capture behavior from any channel Combine with existing knowledge from profiles, preferences and past actions across all channels Apply rules Generate the best, most personalised interaction And most relevant track across all channels Measure and store learning to inform rules
    • ? That’s what Bob does.
    • The problem: • Bob has a few hundred customers. You might have a few million. • So how do you apply Bob-style Behavioral Marketing in your world?
    • You’ve got to answer five big questions: 1 2 3 4 5 Which behaviors matter most? How do you capture and learn from them? How do you turn this insight into action? How do you do it at scale? How do you do it across all channels?
    • Which behaviors matter most? 1
    • Only you can decide what’s best, but pick from this kind of data: Demographics Email behavior Relational data Web behavior Off-line behavior • Age • Gender • Nearest store • Product preferences • Buy for self/as a gift • etc • Opened email • Did not open email • Clicked on link in email • Bounced • No mailing activity • Purchase history • Survey results • Loyalty points • Product searches • Abandoned carts • etc • Cart abandoned • Product searched • Form completed • File downloaded • Video viewed • Custom event • Voucher redemption • Store purchase • Event attendance • Call center activity • Catalogue request • etc
    • How do you capture and learn? 2
    • With a central database of customer behaviors B E H AV I O R A L DATA B A S E LO C AT I O NE M A I L C R MS O C I A L B R I C K S & M O R TA R P O SW E B S I T E Fed by all these channels and touch-points.
    • How do you turn insight into action? 3
    • Rules Analysis Scoring Triggers With four techniques: Simple, “If/Then” logic By someone who understands the business To make strong purchase signals leap out And generate the best next action
    • All you need is a simple way to capture those rules and triggers and scores in a logical flow… Ooh. Here’s one.
    • How do you do it at scale? 4
    • Hint Don’t attack this B2C-scale problem with a B2B-scale platform… !
    • You need a platform that handles this kind of scale: 150 million Messages delivered per day 213 billion Records under management 70,000 Active Message Automations 200 million CRM records sync’d per month 346 million Individualized Automated Messages per month 4.7 Billion Behaviors processed per month
    • How do you do it across all channels? 5
    • Warning: techie-looking architecture diagram coming up… !
    • B-2-1 Automation Engage Behavioral Database ‘The Segment of One’ Web site Call Direct Mail Email SMS Social Action Channels Output Channels – Communications Silverpop Input Channels External Input Channels Web site Location Email Social SMS Store EPOS Web store Call center Mail order Input channels – Interactions • Web store • Mail order • Call center • Event Like this…
    • That’s Behavioral Marketing and it looks a lot like Bob.
    • YOU How do you get there from here?
    • You just need to think like Bob. likes red has 3 kids likesmeat hates oaky Chardonnay loves Rioja birthdaysoon
    • And find the right marketing platform Email High volume sends Rapid throughput Deliverability services Best of both Marketing Automation Web tracking Contact scoring Contact nurture programmes Automated behavioral routing Alerts
    • And start doing simple things…
    • Like cart abandonment emails Triggered 1, 3 and 5 days after, with the relevant product featured…
    • Or re-engagement campaigns that drip three emails to get those dormant prospects back into the flow…
    • Or welcome programs that use send-time optimization to reach people when they’re most likely to respond…
    • The point is, it all starts with simple things. Better targeted interactions that reflect the things each customer does…
    • And gets more and more powerful As you get better and better at it. And add new channels. And refine what works. Until one day…
    • Your marketing is like Bob.
    • And people love you. And come back for more.
    • That’s what it’s all about.
    • Start with one step on the road to Behavioral Marketing. But start.
    • Next steps. Here’s some further reading on Behavioral Marketing that you might like: The Silverpop Book Club Our way of sharing our favourite marketing books with fellow marketers. Meet the authors and hear the stories behind the books we love. Behavioral Marketing Blog From the latest trends and techniques to best practice examples and customer cases. Tune in. Leveraging buyer behaviors in a multichannel world A short whitepaper on how you can use all the new digital channels to your advantage.
    • Stay in touch. Connect with us via social media: Twitter LinkedIn Facebook YouTube Slideshare Google+ Or visit us at: silverpop.com