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Beyond Integration: Welcome to Marketing Fusion

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    Notes on slide 1

    It’s technology-driven and enabled but dynamic and organic. Our best predictions usually don’t match the innovations consumers come up with on their own, and the exponential pace of adoption when a good idea really goes mainstream.

    We’ve been hearing about integrated marketing for years now, but I think it’s only recently become a reality, a reality that goes beyond making connections. What’s really happening is a fusion of both intentional and unintentional impressions, communications, and information. That fusion is taking place as the result of greater transparency between companies and customers, more holistic ways of having customer conversations, the rise of Web 2.0 as it’s called (dominated by User Generated Content and everyone seemingly talking to everyone else about anything and everything they can) which of course carries into social media sites like Facebook, MySpace, LinkedIn, Flicker, and more. Because this is evolving in real time, there’s never been a better time to leverage email. In fact, the great news is how far it’s come in less than a decade, from out of the silo into the very heart of the mix.

    So, as advertising channels increasingly grow both more fragmented and more targeted, we see less consumer time and attention given to any one. However, with channel proliferation each channel becomes part of a holistic whole that frames brand and customer perceptions, so the idea is they need to work together, in concert. You can’t afford disconnects between online and offline marketing, nor between the different components within each context.

    Another macro-level trend that has accelerated to maturity with the rise of the Internet is that the customer is in control like never before. The traditional gatekeepers aren’t in charge anymore. Gone are the days when editors controlled the ads people saw and the editorial they read. With YouTube, blogs, peer review sites, social networking and the viral nature of pass-along email, your customer is exposed to many more impressions of your company and brand than you can possibly control or influence. So the new challenge for marketers is to stay tuned in to that customer conversation – not just conversations with our customers, but the conversations our customers have with other customers about us. We need to be in a position of service, poised to address problems, needs, and desires. (highlight outer circle points).

    So, I see email marketing as the new nexus powering, connecting, pushing and pulling customers and prospects into the many marketing channels and contexts we’ll be operating in. In its early days, it was a great connector between offline direct response like mail, catalog, and phone and it still is. Marketers can leverage multiple channels to gain greater mind share with customers, and of course email can convey information and offers in ways traditional advertising can’t compete with – faster and cheaper than is possible otherwise – which is a huge time advantage marketers now have. What’s really interesting though is how it’s also become the lynchpin of customer contact online. It is still the workhorse powering social media, nudging and alerting members to check in, or transmitting personal messages when a member isn’t actively engaged in a social network. It powers Web site activity, pushing and pulling customers to interact with us online, and by doing so speeds channel migration, streamlines operations and accelerates customer service. And of course, because email has become as ubiquitous a point of contact as the phone, it’s now a primary data element on most customer lists, our online connector to things happening in our offline worlds like events, store openings, mergers, etc.

    It’s a consumer preferred channel for hearing from companies. Use has been on the rise and is predicted to continue to rise to 2013. Also, consumers prefer it over the phone (2009 sherpa study p. 25). It’s the conduit for enabling and confirming the media use above.

    As you consider how to target your audience through email, it helps to think in terms of the main flavors of segmentation schemes available. First, there are demographic and firmagraphic data elements which categorize groups of people by either consumer or company characteristics. Consumer characteristics are criteria such as age, gender, income and education. Company characteristics are attributes like annual revenue, number of employees, years in business, and industry. Second, there is contextual targeting, which groups individuals by the source of the email address, referring web site, or their general online interests. Third, there are self-reported preferences and interests. Forth, there is behavioral targeting based on past known actions. And finally fifth, there is lifecycle targeting which identifies people at a specific life stage and matches offers or services to their known needs at that stage.

    While any of these targeting schemes alone may be satisfactory, the fact is a combination of more than one type of targeting attribute will usually yield the best response. The reason is simple: When you identify your target audience by a blend of personal characteristics, known behaviors, and time and place criteria, you are defining a more specific group which more closely matches your best customer profile. In short, the more specifics you give yourself to work with, the better you are able to pinpoint the people most interested in what you have to offer.

    Third, all prospects and eventual customers typically progress through the same lifecycle stages, as illustrated here. Different stages in the lifecycle are logical trigger points for distinct messages. For example, new customers usually need onboarding and education to become familiar with and increase use of planning or networking functions, while loyal customers benefit from more in-depth information, segmented offers, and rewards. And especially inactive or defecting customers are ideal for win-back programs.

    Here you can clearly see the types of messaging most relevant to different customer lifecycle stages and how the messaging strategy evolves over time. The key here is relevancy. Know your audience, where they’re at, why they’re at the stage they are, and you’ll know what to say to them that clearly keeps them interested in maintaining communications with you. Fail at this task, and your audience(s) will tune out or worse yet, opt-out of your email.

    This is the time to invest in database crunching. Data analysis, modeling, scenario planning and profiling can be incredibly valuable.

    So where is all this heading? If we’re to market “smarter” we need to utilize the Internet to its fullest potential, which means greater individualization and customization of content and communications.

    26

    1) In the world at large, the rate of change is accelerating exponentially. (see notes). This is reflected in the lifecycle of email which has matured in less than a decade. The implications of this broad trend for email marketing are change will be constant and rapid. Best practices will quickly become obsolete. Just when you’ve learned it all, the world will change on you. You’ can’t afford not to keep your finger on the pulse. This is a continuous education challenge, which also means testing to learn and continually improve performance. The bar must be constantly raised just to keep pace with your competition, let alone outpace them. You must proactively stay dialed into this channel; reactivity won’t cut it. And finally, the channel itself will evolve as the technology of the Internet and email-capable devices evolves.2) In the world at large, human communication has been revolutionized in less than a century. When you consider that a little over 100 years ago it could take months for information to reach all parts of the globe, now it takes only hours. We’ve been born into and are living in ongoing revolutionary times when it comes to communication. Today we have digital, global, instant messaging through a variety of channels. The implications for email marketing are that it can no longer be viewed as batch and blast. It’s not one-way, it has effectively become two-way. Any way you cut it, you’ll hear from your customers and your challenge is to listen. If you screw it up, you’ll hear complaints and opt-outs; if you do well, you’ll get response, pass-along and maybe even praise. But if you hear nothing, be alarmed. Silence is deadly but telling. Your customers will be talking, perhaps in other forums like blogs. The unwritten reality is your audience is in control because they control access to the email box. Offend or overwhelm them and you’re out. Which brings me to relevancy – that $64 million word of email. Relevancy will cease to mean better list segmentation and content management, and will become inclusive of temporal and behavioral just-in-time valuable messaging which reaches the right people at the optimal time based on what you know they need and want. One size fits all might still have its place for news and announcements, but marketing will increasingly reach the segment of 1.3) Humanity is increasingly realizing the oneness of the universe. Physics has proven the interconnectedness of everything at the subatomic level with the field of quantum mechanics presenting a model for the complex matrix of life. Science has spotlighted our interconnectedness with the earth with the revelation of man-made global warming and keystone species extinction. We can no longer deny every action has a repercussion - the so-called butterfly effect. This has resulted in new ways of thinking in which we can view things systemically - as matrixed - rather than as separate or compartmentalized. The analogy extends to email. Gone are the days when email should be relegated to the corner cubicles of the online marketing group. Instead, it’s an intrinsic component of both online and offline marketing, the glue which can connect efforts within a media type as well as across media types (online and offline). Yes email can be a channel in itself, but it also empowers social media networks, content distribution (blogs) and drives Web traffic. It must be utilized holistically and leveraged all across marketing rather than simply as a promotional avenue.

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    Beyond Integration: Welcome to Marketing Fusion - Presentation Transcript

    1. BEYOND INTEGRATION WELCOME TO THE ERA OF MARKETING FUSION Karen Talavera, President Synchronicity Marketing Thursday May 21, 2009 Florida Direct Marketing Association Annual Summit
    2. Karen Talavera President of Synchronicity Marketing Providing inspired email marketing coaching, consulting, strategy and professional education About Karen  Nationally-recognized email marketing seminar leader for the Direct Marketing Association (DMA), Association of National Advertisers (ANA) and Fortune 1000 companies  Coach, speaker and writer for MarketingProfs, the Email Experience Council, and Marketing Sherpa  Huffington Post blogger, avid international traveler, social media enthusiast, Twitterer, Latin dancer, and South Florida resident
    3. 1 The Shift The end of marketing as you knew it and the beginning of real-time dynamic connections
    4. The Marketing (r)Evolution  Environmental consciousness and focus on sustainability at an all-time high  Traditional advertising channels are disappearing (newspapers), time spent with them is eroding, or they’re morphing (TV, Magazines)  Time spent online now trumps TV time for all but the oldest age segments  Consumers are savvy, inundated, skeptical, immune and have attention deficit  Email address now more available than phone number. Forrester predicts annual US commercial email volume to double between now and 2013  US mobile phone penetration higher than at-home Internet access (85% vs. 72%)  In 2008, given a recession  41% of online marketers said they would increase email marketing and 47% would hold it steady  41% of online marketers would decrease display advertising
    5. Effect of Downturn on Traditional Marketing Tactics  Direct more viable than mass channels
    6. What’s Going On?  Era of transformation  Crisis and opportunity  Old will fall to make way for new  Survival of the fittest  Exponential pace  Single generation evolutionary leaps vs. multi- generational slow change
    7. The Old Model  One-way progression  More interested in speaking than listening  Goal: Create demand rather than value  Sell vs. Serve
    8. The New Way  Two-way dialog, multiple avenues  Conversation vs. broadcast  Goal: Create long-term value & loyalty  Sell by way of Serving
    9. Marketing Fusion Defined  A matrix of technology, tactics and channels which can be quickly, dynamically configured in different ways to both speak and listen to customers and prospects as is useful and appropriate for the organization and the target audience
    10. Why Now?
    11. Implications
    12. In Case You Forgot . . .
    13. Email: The New Nexus
    14. Why Email As Nexus?
    15. Digital: Three Significant Channels Social Email @ The inbox has morphed. Customers expect new and better ways of Mobile communicating with and engaging businesses; anywhere, anytime.
    16. Tri-Messaging Effect Integrated, Personal Channels & Devices Rich Content-Experiences & Conversations; Anywhere, Anytime More Empowered People & Businesses
    17. 2 It’s About Conversation The end of one-size-fits all messaging and the necessary move toward dialog marketing
    18. Target Beyond the Single Dimension
    19. Combine Multiple Targeting Schemes  A combination of segmentation schemes yields optimal performance
    20. Align with Customer Lifecycle  Each customer lifecycle stage has its own information or product/service needs as well as unique marketing opportunities within it
    21. Lifecycle-Specific Strategies  Create relevant and timely communications for different audience member lifecycle stages
    22. Go Deeper, Not Wider
    23. Trade Value, Access & Exclusivity for Permission & Data MULTICLIENT PROGRAMS MAGAZINES RELATIONSHIP CAPITAL CONTENT NEWSLETTERS FOR SALE CONFERENCES DIRECTORIES BLOGS GATED COMMUNITY MAGAZINES WEBINARS “MEMBERSHIP IN BUYERS GUIDES WHITE PAPERS EXCHANGE FOR TRADE SHOWS MICROSITES DEMOGRAPHICS” CUSTOM PUBLICATIONS E-LETTERS E-MAIL ADDRESSES LIST RENTAL TRAFFIC MARKET – visitors, users, members, buyers
    24. Aim for Dialog Marketing A series of centrally-coordinated, intentional communications tailored to audience member consideration paths and sequenced to guide them through the buying cycle
    25. Dialog 101: Trigger-Based Email  “Sense” an action and “respond” with behavior-triggered email campaigns  Email follow-up message tracks are developed and deployed when recipient takes a specific action  Opens a message  Clicks on a link but doesn’t buy  Changes preferences or provides new data  Asks a question, makes an inquiry or requests help (even if offline)  Buys in an offline channel  Forwards message to friends  Approaches an event horizon  Experiences a “life event” or life stage change  Comments o Social Media  Follows/joins on Social Media
    26. Dialog Marketing: The Future  Behavior-based contact strategy  Integrated rather than compartmentalized communication process  Method: Conversation vs. broadcast 3rd Generation  Goal: relationship vs. response Conversation 2nd Generation • 1-to-1 two-way dialogue rather than 1-to-many one- 1st Generation Target Marketing way communication Mass Broadcast • 1 to Many Messaging • Content dynamically • 1 to All messaging • Responsible, compliant customized recipient-by- recipient • High-volume/low cost • Targeted, but broadly • Behavior and/or event- • Huge reach • Response-oriented triggered • Generally not relevant • Usually Relevant • Closed loop • Minimal response ability • Usually single channel • Integrated channels
    27. Fusion Marketing Champs
    28. Dove Campaign for Real Beauty Dimensions Monthly E-Newsletter
    29. Obama Campaign
    30. Obama Elected
    31. Obama Transition
    32. President Obama
    33. Oprah
    34. Oprah
    35. Home Depot Garden Club
    36. 3 Measurements Must Evolve Accountability will be the norm and measurement will become more expansive
    37. 4 Critical Areas of Measure
    38. All Responders Are Not Created Equal  Remember the importance of channel segmentation on your back end  Analyze program results by demographic, behavioral, and channel characteristics such as:  Social media savvy  Which customers are active on social networks?  Permission type (single opt-in vs. double opt-in)  Is a higher permission standard translating into better response?  Source channel  Is a particular channel yielding more responders? Or influencers?  Date acquired  Are more recent customers more responsive?  Multi-Channel Activity/Status  Are those active in more than one channel behaving different form single- channel responders? How?
    39. All Reponses Are Not Created Equal  Best way to evaluate total performance is to assign a weighted (or monetary, if you can) value to each action that is meaningful to your business:  Example:  Page view = 1 point (or $)  Registration = 5 points (or $)  Qualified Lead = 7 points (or $)  Purchase = 10 points (or $)  Count the number of meaningful actions and multiply them by a weighted value for a truer look at the total value of each campaign
    40. Comprehensive Conversion Tracking  Is essential, will get more difficult  A single channel may both drive and influence response  Your back-end may not accurately be able to track conversions because responders don’t always follow a trackable path  The more complex the sale, the more likely it will be completed in stages, in multiple channels  Channel-suppression testing one way to gauge individual value of a channel
    41. Look Beyond the Numbers  Campaign A may have produced more click-throughs than Campaign B, but if the correlation of clicks to conversions is low in Campaign A, Campaign B will be the better performing effort  Correlations to Measure  Opens to clicks  Clicks to conversions Campaign A Campaign B Open Rate 48% 40% Click-Through Rate 12% 5% Conversion Rate 3% 4%
    42. Beyond Process Metrics: AOV & LTV  The final measurement isn’t ROI, it’s knowing and comparing your average order value across campaigns.  Higher conversion rates alone don’t matter if AOV is low  Example:  Campaign B required twice as many conversions to produce the same results as Campaign A. Something is motivating responders to spend more in Campaign A. (Find out what, and then you just need to raise the conversion rate to maximize returns) Campaign A Campaign B Conversion Rate 3% 7% Sales $ $10,000 $12,000 Number of Orders 50 120 AOV $200 $100
    43. 4 In Summary
    44. The New Reality
    45. THANK YOU QUESTIONS? Stay Connected Email: karen@synchronicitymarketing.com Web: www.synchronicitymarketing.com Phone: 561.967.9665 Facebook/LinkedIn: Karen Talavera Twitter: http://twitter.com/SyncMarketing

    + Karen TalaveraKaren Talavera, 5 months ago

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