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Integrated marketing for the customer journey
 

Integrated marketing for the customer journey

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  • Source: The Gartner CRM Vendor Guide, 2013 - http://my.gartner.com/portal/server.pt?open=512&objID=260&mode=2&PageID=3460702&resId=2263416&ref=QuickSearch&sthkw=marketing+analytics+leaders

Integrated marketing for the customer journey Integrated marketing for the customer journey Presentation Transcript

  • Integrated Marketing Effective consumer interactions using data, analytics and creative execution for Integrated Marketing Management Norbert Herman1 © 2012 IBM Corporation
  • 1 Marketing Challenges Today’s digital revolution and empowered consumer are producing many tough marketing challenges that are leaving CMOs struggling to respond Marketing Priority Matrix 1 Data explosion Under- 2 Social media preparedness 1 3 Growth of channel and device choices 70 2 4 Shifting consumer demographics 3 5 Financial constraints 4 6 Decreasing brand loyalty 60 5 7 Growth market opportunities 6 10 7 9 8 ROI accountability 8 11 9 Customer collaboration and influence 50 12 10 Privacy considerations 13 11 Global outsourcing Factors impacting 12 Regulatory considerations 40 marketing 13 Corporate transparency 0 20 40 60 Mean 2 Source: 2011 Global Chief Marketing Officer Study industry © 2012 IBM Corporation
  • 1 Marketing Challenges Forrester asked 216 clients “Which are the biggest Customer Intelligence challenges you expect to face in the next two years?” 3 Source: ttp://www.forrester.com/Tackle+Behavioral+Targeting+To+Modernize+Customer+Interactions/fulltext/-/E-RES61387 © 2012 IBM Corporation
  • 1 Marketing Challenges The way consumers reach purchasing decisions is constantly changing and this requires vigilance with ongoing innovative marketing execution Source: http://www.kaushik.net/avinash/analytics-tips-complex-data-simple-logical-stories/?utm_source=social-media&utm_medium=twitterfbgp&utm_campaign=aktw 4 4 © 2012 IBM Corporation
  • 1 Marketing Challenges Shoppers want retailers to provide personalized promotions and recommend relevant – based on IBM Global Study across 14 countries with 23,466 respondents Interest in retailer offers 55% 43% Use my prior Use my prior purchasing purchasing to to offer me recommend new promotions products 43% 36% Invite me to Involve me in events new product ideas Source: IBV Retail 2013 From Transactions to Relationships: Connecting with a Transitioning Shopper Study n= 23466 Non-Grocery shoppers 5 From Transactions to Relationships: Connecting With a Transitioning Shopper Global View 5 © 2012 IBM Corporation
  • 1 Marketing Challenges How effective is your organization in the key metrics of delivering customer life time value? Forrester report on “The State Of Retailing Online 2013: Key Metrics And Initiatives”Source:http://www.forrester.com/The+State+Of+Retailing+Online+2013+Key+Metrics+And+Initiatives/quickscan/-/E-RES89902#/The+State+Of+Retailing+Online+2013 6 6 © 2012 IBM Corporation
  • 1 Marketing Challenges In most organizations, a small set of customers delivers the bulk of the revenue. Large gains can be made with solutions that can reveal the areas for more focus Marketing Challenges Visitors Revenue 8% 1. Drive visitors to the store (online and brick/mortar 41% 2. Convert visitors to shoppers 92% 3. Convert shoppers to loyal 59% and profitable shoppers No Previous Purchase One Previous Multiple Previous Purchase PurchasesSource: http://www.cmo.com/articles/2012/9/11/the-roi-from- 7marketing-to-existing-online-customers.html © 2012 IBM Corporation
  • 1 Marketing Challenges According to Forrester, the US retail marketing budget is disproportionately allocated. An effective marketing solution should provide the necessary alignmentSource: http://www.cmo.com/articles/2012/9/11/the-roi-from- 8marketing-to-existing-online-customers.html © 2012 IBM Corporation
  • 1 Marketing Challenges Analytics based actions and/or offers can tap into the five times higher conversion rates of the top two quartiles with the right capabilities Capabilities needed to convert profitable purchasers Customer Insights Trend Spotting Customer Value Management Highly Targeted CampaignsSource: http://www.cmo.com/articles/2012/9/11/the-roi-from- 9marketing-to-existing-online-customers.html © 2012 IBM Corporation
  • 1 Marketing Challenges The patterns and trends you notice in your market sector can dictate the approach you take towards higher Return On Marketing Investment Leverage Point 5: Leverage Point 6: Advocate Compensation Use platforms like Pinterest Application To Person Use of the mobile platform to complement marketing to send intelligent, timely & efforts through the help of location focused messages the extreme loyalist to mobile users 10 © 2012 IBM Corporation
  • 1 Marketing Challenges IBM’s marketing solution “Intelligent Advisor” is made up of hardware, software and services that delivers results in the, operation and analytical marketing areas (Gartner’s definition of Integrated Marketing Management) Executional Operational Analytical These processes analyze These processes support These processes support customer data, segment the internal operations of executional and operational customers and target the marketing department processes by driving communications to and management of planning, optimizing customers or partners resources outcomes and measuring across multiple channels (e.g., budgets, projects, performance. Many of these and points of interaction. HR and content/assets). processes are Multichannel campaign MRM is the embedded in the management (MCCM) is term we use to describe executional and operational the term we use to the set of operational ones, but marketing describe this set of processes and performance management executional capabilities associated application (MPM), marketing ROI and and processes. functionality. marketing mix optimization Source: Gartner Nov. 2012 span campaign http://my.gartner.com/portal/server.pt?open=512&objID=260& mode=2&PageID=3460702&resId=2221322&ref=QuickSearc management and MRM. h&sthkw=marketing+analytics+leaders 11 © 2012 IBM Corporation
  • 1 Marketing Challenges Intelligent Advisor is a holistic and effective solution that manages the customer experience which drives conversion, and customer advocacy Customer experience Poor Sub Standard Standard Sub Optimum Optimum Customer equity None Fragile Weak Strong Robust Customer advocacy Dissatisfied Satisfied Pleased and Delighted Customer Has Customer – Customer – Committed Customer Who Defected Might Defect Not Committed Customer is an Advocate 12 © 2012 IBM Corporation
  • 1 Marketing ChallengesWhat is the anatomy of your customer’s experience and how do you maximizethis experience by capturing, analyzing and executing on all the possible info? Aware / Engaged Transacting / Interacting Involved / Loyal • Communication • Transaction points • Ongoing Sources • Process Flows conversation Doing • Process Flows • Data Extracted • Process Flows • Data Extracted • Data Extracted • Triggering Thinking • Intuitive experience • Realized value thoughts • Triggering • Positive Feeling • Supporting messages Feelings experience • Continuous Experience • Initial Experience • Visual assistance engagement 13 © 2012 IBM Corporation Image Source - http://www.percepta.com/regions/europe/resources/blog/2012/03/30/owns-social-media-customer-service/
  • 2 Customer Journey Use CaseMeet Andrew! He loves watching and playing soccer. He is a regular onlineshopper and also has multiple loyalty cards with his favorite stores. • 25 year old single male Social Footprint • Lives in Boston, MA • Has 230 Twitter Followers • Works in PR Trusted Brands: Sky, Amazon, Motorola, • Drives a Toyota Matrix 2012 Samsung, Apple, Adidas, ($20K Value) Nike The effective Integrated Marketing Management solution will engage with Andrew through the entire customer journey, thus increasing the total customer lifetime value Aware Transacting Involved Engaged Interacting Loyal 14 © 2012 IBM Corporation
  • 2 Customer Journey Use CaseThe Intelligent Advisor solution is aware in real-time of prospects like Andrewwho are an ideal target for the retailer Customer is Aware Solution CapabilitiesAndrew receives a work bonus for themonth and decides its time to get a biggerHDTV screen. ?He posts a question in Twitter asking hisfollowers what is the best and latestHDTV value for money.The event is captured by the store and asuggested message is sent to Andrew’siPhone with value and price comparisonlinks. 15 © 2012 IBM Corporation
  • 2 Customer Journey Use CaseEngaging with Andrew at the right time, on the right channel and with the rightmessage requires very accurate data capture and analytics Customer is Engaged Solution CapabilitiesAndrew is in a rush and does not havetime to look at the reply he just received.When he gets home that evening, hebrings up Twitter on his iPad and readsthe provided information.He posts a follow-up question askingabout the differences in a PanasonicVIERA TC-P55ST50 versus the VIZIOE601i-A3. A live agent picks up therequest and starts a DM conversation 16 © 2012 IBM Corporation
  • 2 Customer Journey Use CaseThe biggest probability of conversion on an offer happens when there arefewest steps and simplest path to complete the transaction Customer is Transacting Solution CapabilitiesAndrew receives the needed informationvia Twitter along with an email follow-upas he requested.Andrew gets busy through the week andforgets about the offer. On Saturdaymorning he is walking through theshopping center next to the store whenhe gets another DM notify with 10% offfor the VIZIO E601i-A3 he wanted. Hewalks into the store and redeems theoffer. 17 © 2012 IBM Corporation
  • 2 Customer Journey Use CaseOngoing interaction with the customer ensures satisfaction and/or awarenessof any issues before the customer sends negative messages to others Customer is Interacting Solution CapabilitiesOn his way home from the store, Andrewreceives an email with a link to theFacebook page that has great tips andFAQs for best viewing experience.After a quick configuration of the TV, heposts a Facebook like + quote on hisgood experience with the store. 18 © 2012 IBM Corporation
  • 2 Customer Journey Use CaseIdentifying and increasing the value of the customer requires ongoing anddynamic models that are able to keep the client engaged Customer is Involved Solution CapabilitiesAndrew logs into his PC on Sunday toregister the warranty for his new TV. Heis shown a soccer-themed page with infoabout how the combination of productswill offer him the perfect way to watch hisTV.He sees the offer on the screen protectoris only valid if he buys today so hedecides to ‘click and collect’ at his neareststore the following day. 19 © 2012 IBM Corporation
  • 2 Customer Journey Use CaseWhen the customer is satisfied with the shopping experience and begins totrust the store, loyalty and advocacy are increased which leads to spend Customer is Loyal Solution CapabilitiesAndrew goes to the store to collect thescreen protector.The check-out clerk recognizes Andrewas a customer with high influence andoffers him a $25 coupon if he can emailand get three of his friends to click on thelink in the email for the latest HDTVoffers. 20 © 2012 IBM Corporation
  • 3 A Complete IMM SolutionA complete Integrated Marketing Management Solution contains thecapabilities needed for providing effective analytics embedded in the entiremarketing process like in seen Andrew’s journeySolution Use Case Catalog Integrated Marketing Management Solution Improve customer Capture Analyse Execute traffic to the stores Mobile Improve percentage of Industry Data Entity Analytics visits ending in a SMS purchase Social Media Increase efficiency of Earned marketing spend Clustering Web Data Convince consumers that you are relevant Industry Data Align customer Paid Pattern Detection insight to product Outbound Consumer Reports Call availability in regional stores E-Commerce Next Best Action Share data Data collaboratively with Owned Social channel partners POS Data … Next Best Offer Industry Data 21 © 2012 IBM Corporation
  • 3 A Complete IMM Solution Getting insights from data to drive the business requires effective analytics across all four dimensions of volume, velocity, variety and veracity Veracity (increased odds for success)Volume (ability to process for use) Velocity (at the speed of business) Variety (enrich correlations / outcomes) Identify potential triggers Grab the <5% of tweets of Correlate advertisement for advertisement in interest in 12 terabytes of with location, contract and @ tweets created everyday millions of XDR and Network events in seconds consumer information for in context delivery Harness the Network Analyze more then 500 Harvest insight from the data in real time. million Call Detail 80% of new data growth Records per day coming from email, documents, images, video and social media The Opportunity: Extracting and monetizing new and game changing insight from an immense volume, variety and velocity of data. 22 © 2012 IBM Corporation
  • 3 A Complete IMM Solution The key principles that deliver the differentiating factor in higher Marketing ROI are based in the solution accuracy and business execution Capture Analyse Execute Customer Hub e Feature Library Clustering Decision Models NBA Optimization• Data Timing - Capture data • Precision – The ability to • Relevancy – Use consumer from all sources (structured / extract the most relevant trust patterns of engagement unstructured) in batch and insights with highest precision real-time mode • Speed – Engage with the • Adaptive Learning – Dynamic consumer in the ideal• Size - Import large amounts models able to keep pace with opportunity window data for continuous learning customer and market changes • Profitability – Optimal cost of• Resolution – Link and resolve • Linked – Use insights relevant execution for the most entity, privacy and security to business objectives and profitable results aspects of the data across the organization 23 © 2012 IBM Corporation
  • End to End Integrated Marketing Solution 1. Define Assessment Key Business Marketing Strategy Matrix KPIs 2. Customer Configure Locations Keywords Features IA Solution 3. Embed Solution Into People Tasks Workflow Marketing Process 4. Execute Marketing Plan And Refine Approach 24 © 2012 IBM Corporation
  • 4 Smarter Marketing Execution Business alignment is key to driving the approach in the implementation of the proper IMM capabilities that delivery the expected business results Business Outcome Alignment Matrix Define Outcomes Measure Action Analyze Sentiment Measure Activity Business Behavior Attitude Volume Metric Metric Metric Metric The key variables driving business results are realized by using IBM’s proven gap analysis solution called Enterprise Marketing Management Assessment 25 © 2012 IBM Corporation
  • 4 Smarter Marketing Execution The Marketing Capabilities Catalog provides a structured approach to implement the marketing strategy using customer analytics Improve Traffic Anticipate Improve Marketing Outsmart the Improve Brand to the Store Customer Needs Efficiency Competition Perception Use Real Time Targeted View Purchasing Promotions From Interaction to Patterns Social Media Drive Traffic Understanding Measure Brand the Competition Performance Create a 360 Targeted Generate Leads Degree of the Promotions From Customer Customer History Location / Telco Personal Offers that Stock Stores Browsing + CDR Triggered Shopping Guide Counter the Based on Trends based Offers Marketing App Competition Point of Sale Sales Agent Interest Based Based Engagement in Offer in Store Promotions Store 26 © 2012 IBM Corporation
  • 6 Appendix Why IBM? Technology Truly customer-centric approach, methods & technologies Solutions • Strategy based on customer investment model with Decision aligned allocation of all resources to strategic growth Optimization objectives • Tactics aligned to strategies – customer treatments, Customer relevancy and timing integrated with strategic resource Foundation: allocation – all grounded in customer insights Action Clusters Decision optimization applied at all levels Real-time architecture – holistic solution with ongoing Application To refinement and improvement from insights across the globe • Customer Segmentation Size and scale – IBM has resources in every discipline and • Optimized Marketing geography Spend IBM researchers are redefining where discovery happens by • Discovering New Customers stepping outside of the laboratory and challenging the status • Increasing Customer quo to solve some of the worlds most complex problems. Lifetime Value • Increased Advocacy and Spend 27 © 2012 IBM Corporation