Multichannel Marketing: The New Black

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Presented at the National Conference for Database Marketing, where Harland Clarke was presented with the Gold Award for their work with Zions Bank in developing the Rapid Deployment Intelligent Onboarding Program.

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  • These new channels provide new ways to gather/use dataMore behavior-centric – social media, mobile, location based/GPS
  • These new channels provide new ways to gather/use dataMore behavior-centric – social media, mobile, location based/GPS
  • These new channels provide new ways to gather/use dataMore behavior-centric – social media, mobile, location based/GPS
  • Must focus on the consumer: right offer, right channel, right timing
  • Must focus on the consumer: right offer, right channel, right timing
  • Email, Direct Mail, Landing Pages
  • Mobile BankingAlternative, interactive customer service (Twitter)
  • More interactive channelsUser insightsMore geo-location tools
  • More interactive channelsUser insightsMore geo-location tools
  • Multichannel Marketing: The New Black

    1. 1. Multichannel Marketing: The New Black
    2. 2. Multichannel Marketing: The New Black Offline Web Mobile Social Email
    3. 3. Why Multichannel Marketing?• People search before they buy• People want buying options• Your best customers are multichannel Retain Acquire• Multichannel marketing delivers better results: – Improved retention Grow Engage – Increase revenue per purchase – Increase in products sold per customer
    4. 4. First,A bit about what‟s happening in the multichannel world.
    5. 5. How Big is Multichannel Marketing?
    6. 6. The New Marketing MixSource: SAS 2011
    7. 7. Budget Distribution is ChangingSource: SAS 2011
    8. 8. Media Emphasis is ShiftingSource: SAS 2011
    9. 9. Skills Gap Still Remains in ‘New’ Media Source: SAS 2011
    10. 10. Multichannel Competence Falls Short Source: SAS 2011
    11. 11. Measurement is a ChallengeSource: SAS 2011
    12. 12. New AIDA Continuum Old Media New Media Reach Engagement Conversion Buzz(Awareness) 40% (Interest and 10% Desire) (Action) 1% (Satisfaction) Social Media
    13. 13. So, what was your last greatmultichannel experience?
    14. 14. Was it Something You Bought?
    15. 15. Or Someplace You Went?Web Couponing Digital – iPhone App Search Engine Ads Best Buy Express Facebook - Ideagiftr Event - NASCAR Twitter - Twelpforce
    16. 16. Was it a Bank? Twitter Interactive Website Interactive Billboard iPhone AppYouTube Product Demonstrations
    17. 17. Was it Even Product Marketing? Web Video Checkbox Message Direct MailATM Screen Statement Insert
    18. 18. What‟s Consistent With The Best Multichannel Experiences?It‟s About YOU!
    19. 19. You,It‟s About YOU! The Customer
    20. 20. Most of what we know about the consumer isdriven by data: Source: SAS 2011
    21. 21. “It ain’t like it used to be…”
    22. 22. New Channels Redefine How We Look at Data
    23. 23. Are you listening?
    24. 24. Tools: Track, Trend, Test . . . Do it again
    25. 25. “Your biggest marketingchannel is your customers.” Who they are What are their needs Who do they influence What makes them happy
    26. 26. Magazines, SMS, Face-to-Face, Social Media Call Centers, online Mail, Social Media Face-to-Face, NO MAIL!Websites, Radio Television, Radio
    27. 27. Connect the Tangible and Emotional
    28. 28. Know Your Target . . . And Who Influences Them
    29. 29. So What Can You Do With This Insight?
    30. 30. The Power of Listening and Observing
    31. 31. Louis Vuitton(Integrated Digital Media)
    32. 32. Louis Vuitton(Integrated Digital Media)
    33. 33. Chase Freedom (Social Media)
    34. 34. Chase understands the importance of retention, not justacquisition. They are teasing fans of things to come (884 likes onthis post alone).
    35. 35. FI Multichannel Integration
    36. 36. Campaign Development• There’s more to it than most think• Focus on the basics• Leverage the opportunities• It’s what you DON’T see that can hurt you
    37. 37. Who is the Target Audience?• Develop a communications strategy that is steeped into the lives and experience of those you want to reach.
    38. 38. But Don‟t Get Fooled by „Gut Instinct‟
    39. 39. Stick to“One Thing”
    40. 40. Aggregate and Build… but be wary of“Paralysis by Analysis”
    41. 41. Test and Learn• There are no magic silver bullets• Continue to test combinations over time• Insight, Interaction, Improve Source: SAS, 2010
    42. 42. Track and Analyze • Measure ROI to Opened Email Messages TOTAL Industry Benchmark Open % Develop Strategic 300000 18.0% 16.0% 250000 Directions 200000 14.0% 12.0% 10.0% 150000 8.0%Total Email Messages Sent 100000 6.0% ABT CBT NBAZ NSB VBC ZFNB TOTAL % Change 4.0% 50000 SEP 10 2.0% OCT 10 0 0.0% NOV 10 DEC 10 Industry Source: JAN 11 105,889 20 459 649 0 658,715 765,732 100.0% Forrester FEB 11 5,706 5,332 835 344,435 0 446,913 803,221 4.9% MAR 11 13,945 4,609 39,565 326,404 0 418,030 802,553 -0.1% APR 11 17,370 7,084 440 338,238 993 728,094 1,092,219 36.1% MAY 11 43,849 3,325 970 240,877 5,397 332,335 626,753 -42.6% JUN 11 22,503 6,944 1,409 422,723 5,500 550,123 1,009,202 61.0% JUL 11 9,725 6,850 79,883 352,364 14,902 631,427 1,095,151 8.5% AUG 11 13,386 3,304 42,062 517,223 3,153 526,345 1,105,473 0.9% SEP 11 68,919 4,778 3,787 457,579 9,568 1,007,296 1,551,927 40.4%13-M CHANGE 68,919 4,778 3,787 457,579 9,568 1,007,296 1,551,927 100.0%
    43. 43. • Measure Engagement toDevelop Strategies to Social Media EngagementBetter Interact with 350 80Consumers 300 250 70 60 50 200 40 150 Social Media Awareness 100 30 2014,000 50 2,000 10 1,80012,000 0 0 1,60010,000 1,400 8,000 1,200 1,000 Interactions Admin Posts 6,000 800 4,000 600 400 2,000 200 0 0 Social Page Views Facebook Fans Twitter Followers
    44. 44. Stay Focused.Don‟t Chase the Shiny Object
    45. 45. Where We’ve Been
    46. 46. Multi-Touch Program Overview• Integrate both e-mail and offline direct messaging to our clients• Goal: Increase share of wallet by focusing on the client’s next most likely product – Once successful (acquisition of a new product), the program will repeat itself with a systematic up-sell/cross- sell strategy
    47. 47. Key Program Results• The Multi-Touch campaign drove impressive lifts over the non-mailed control group in terms of both account response rate (130%) and average balance (241%).• About 84% of new accounts and 95% of balance dollars were in deposit-related product lines.• Onboarding program has reduced attrition by approximately 5%.• Increase in traffic to PURLs.
    48. 48. Where We’re Going
    49. 49. 7 Best Multichannel Practices• Maintain your brand throughout ALL executions• Live the journey from your customer’s perspective• Don’t forget ‘old’ media• Balance mix – Be great in 1 channel, good in many• Leverage the benefits of each channel• Do it better, or differently, preferably both• Test – Measure - Test
    50. 50. Contact InfoJames.marous@harlandclarke.com818-297-0268Jimmarous.blogspot.comMatthew.Wilcox@zionsbancorp.com801-316-1664Mattwilcoxpro.comtharry@richter7.com801-303-1538blog.richter7.com

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