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Integrating Inbound Marketing

Integrating Inbound Marketing



James Taylor (@jamet123) of Decision Management Solutions (@decisionmgt) discusses real-time integrated marketing, data-driven marketing, and how to integrate inbound decisioning into outbound ...

James Taylor (@jamet123) of Decision Management Solutions (@decisionmgt) discusses real-time integrated marketing, data-driven marketing, and how to integrate inbound decisioning into outbound campaigns.



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    Integrating Inbound Marketing Integrating Inbound Marketing Document Transcript

    • Integrating Inbound Marketing Teradata Real-Time Interaction Manager Integrates Inbound Decisioning with Outbound Campaigns to deliver Next Best Action. James Taylor CEO CONTENTS Moving To Next Best Action Integrating Inbound Marketing Teradata Real-Time Interaction Manager Teradata Integrated Marketing Management Moving Forward Sponsored By Traditional marketing organizations are transitioning from a focus on campaigns and outbound marketing to a multichannel approach based on Next Best Action. In a recent study on data driven marketing, Teradata found that over 50% of marketers are using seven or more channels to communicate with their customers. Over 70% of them also use traditional channels such as direct mail, call center, and print advertising1. Unsurprisingly, this leads to the current situation in which 65% of marketers say silos within marketing prevent them from having a holistic, cross-channel campaign view2. Even when marketers are making progress integrating their channels they still struggle with targeting customers across multiple systems and measuring effectiveness. Solving this problem is top of mind for CMOs and increasingly it is CMOs who are driving technology spend. This trend toward more integrated marketing is being compounded by the big data movement. Big data is increasingly seen as driving innovation in marketing, especially when data from channels that are not relationally organized such as weblogs or call center logs to provide a history of customer behavior. Social, mobile and sensor data all reflect on the customer journey. Truly integrated, multichannel, next best action marketing must take account of big data. In fact, some estimate that 45% of big data deployments are about marketing3. To succeed in delivering cross-channel, next best action marketing organizations need integrated marketing solutions that can deliver consistently across a wide range of inbound and outbound channels. Most marketing departments have focused on outbound marketing in the past and must now adopt new technologies for inbound marketing. This inbound marketing must be integrated with their traditional campaigns to deliver a consistent, targeted, effective customer conversation. © 2014 Decision Management Solutions 1
    • Integrating Inbound Marketing Moving To Next Best Action Effective acquisition, retention, and development of customers have never been more important. Every interaction with a customer—regardless of channel—is an opportunity to establish a dialogue and build and extend a relationship. Marketers know that they are most effective when they can engage their prospects and customers in an ongoing, interactive dialogue. It gives them time to develop a relationship, time to establish the likes and dislikes of an individual, and time to build awareness of their brand and their product’s value proposition in the minds of customers. The Internet, social media, mobile devices and technology are highly interactive. This creates new opportunities for a more effective dialog. At the same time it also creates a complex, multi-channel environment that makes sustaining such a customer dialogue difficult. Customers interact with companies and brands across these multiple channels while expecting companies to act like a single entity regardless. Poorly managed or channel-specific customer treatment decisions result in messages and offers that seem inconsistent and incoherent, confusing customers and reducing brand value. Customers respond to a company’s offers and messages as though they are personal and deliberate—as though the message was sent only to them personally. Too many companies treat people as groups, not individuals, and treat each communication separately rather than as part of an ongoing dialogue. As a result, they make decisions that seem impersonal and accidental. Their communications have no context and don’t make customers feel valued. They give no sense that the customer’s needs are understood. To effectively build a dialogue, companies need to make customer treatment decisions that are as personal and deliberate as they can. All this means that Figure 1: Multi-channel Decisions Matter marketers must effectively manage the many decisions about how to interact with their customers—what to push next, what to say and how to respond to inquiries—across all the channels those customers use. Successful dialogues depend on making effective decisions about customer treatment at each stage, about what to do next. If these customer treatment decisions are not managed systematically and made in a © 2014 Decision Management Solutions 2
    • Integrating Inbound Marketing way that truly engages customers, no dialogue can be established and no relationship of value can be built. Every customer interaction is an opportunity to extend a dialogue with that customer and so build a stronger relationship. Whether a personalized marketing offer or some proactive customer service, each interaction must be thought of in terms of maximizing the value of your customer relationship. To ensure this, many organizations are developing Next Best Action programs. A Next Best Action program considers all possible actions, from marketing offers to customer service actions, and selects the one most likely to build long term value no matter what the context or channel. Next Best Action programs optimize each and every decision across the customer lifecycle—from customer acquisition to cross and up-sell, retention, customer service and more. Next Best Action programs optimize every customer interaction in an increasingly complex multi-channel environment and ever-increasing volatility in customer relationships. In many ways Next Best Action programs recreate how successful small businesses work with their customers. A successful small business owner knows a lot about their customers and community. They remember their customers from interaction to interaction. As a result they can personalize and target each interaction to create very high quality customer relationships. In organizations that must rely on large numbers of staff, systems and processes to interact with customers, Next Best Action programs create this same sense of personalized, focused interactions. At the heart of effective Next Best Action programs are decisions—decisions about offers, about eligibility, about treatments, about the actions to take to serve a customer. A focus on these decisions across every channel is essential to a successful Next Best Action program. In particular, Next Best Action programs require the effective integration of inbound marketing with more traditional outbound channels. Integrating Inbound Marketing Next Best Action programs bring together both inbound and outbound customer interactions.  For inbound conversations, customers expect a response to their question or issue that reflects their relationship with the company. Next Best Action programs build on answering the inbound issue and aim to deliver additional value to the customer while developing a better long term relationship.  For outbound interactions, Next Best Action programs aim for meaningful, relevant, personalized outreach to customers. They also identify the right time for the action—now, next time the customer is sent something, after their next paycheck—as well as the right channel for it. © 2014 Decision Management Solutions 3
    • Integrating Inbound Marketing Integrating inbound marketing with existing outbound marketing activities involves taking advantage of all the information—you have about customers, making sure that inbound decisions are made in the context of outbound marketing, and following a rigorous process for delivering inbound marketing messages. Integrating inbound and outbound marketing requires a true cross-channel orientation when it comes to customer information. All too often information about the customer that could have been used to make a more personal decision is left unused. Instead of all the information from all channels being fed into every decision, each channel uses its own information set. Even when information from one channel is available to another, companies do not apply it systematically to improve customer treatments. At best, companies pull data from one or two additional channels when making decisions. To properly integrate inbound and outbound channels, data from all channels should be used to improve decisions. Inbound decisions are also made in the context of recent, and perhaps planned, outbound treatment decisions. Knowing which campaigns have been targeted at a customer as well as what has been said to them recently in outbound channels matters when deciding what to say on an inbound channel. At the same time planned outbound actions can be changed to reflect inbound interactions, customizing messages or campaign participation based on recent interactions. Effective inbound marketing requires a rigorous process to deliver the right message each time.  The customer must be profiled accurately in real-time and using both historical and contextual information. Increasingly this is a big data problem with nontraditional data sources playing an important role.  Which offers or actions a customer is eligible for needs to be determined and issues such as governance and contact history resolved using business rules to make sure that nothing inappropriate is going to be proposed.  This candidate list can then be filtered and prioritized using analytics to target customers with offers or other actions that are most likely to provoke a positive response and generate future value.  It may not be possible to offer all customers the best offers due to caps or limits. Continuous improvement requires ongoing A/B testing. This kind of tradeoff and testing finalizes the offers or actions to be proposed. All this work returns an offer or suggests an action—directly to a customer through an interaction point in a channel like a website or mobile app, or by providing a script or prompt to a person working in a call center or in-person channel. An effective solution manages every step of this process, brings the wide range of organizations that must be able to participate together and assembles 1st party data, session data, behavioral data, context and even 3rd party data to drive decisionmaking. © 2014 Decision Management Solutions 4
    • Integrating Inbound Marketing Teradata Real-Time Interaction Manager Teradata Real-Time Interaction Manager (RTIM) is the evolution of the Market Helm technology Teradata acquired in 2011 and handles inbound marketing and real-time offer management. It takes all of a customer’s interactions and determines the best offer or message to respond with. It manages customer messages in a central repository, delivers them on-demand to customer touch point applications and, as a customer interacts with a company, determines the best one to display. Business users configure how to deliver this content to websites or channel-specific applications in contexts such as cross-sell and up-sell, customer retention and partner marketing. Architecture The overall RTIM architecture is shown in Figure 2: RTIM Architecture below. Figure 2: RTIM Architecture Source: Teradata 1. An Admin UI is used by business users to configure campaigns and messages 2. Customer interaction channel requests go to a decision server. 3. Decision servers load any existing data for a customer from the data store or other source and write it to the shared Session cache for subsequent use in the session. © 2014 Decision Management Solutions 5
    • Integrating Inbound Marketing 4. Decision servers reference the Session cache and any new session data to return the most effective messages. 5. The Session server closes expired sessions and writes learning tags and contact history to the data store for future analysis. 6. Learning servers run periodically to generate new statistical models and then notifies the Decision servers so these can be integrated into decisions. Messages Different groups can “own” the messages managed by RTIM (corporate, web, marketing, etc). Each message has a basic definition and this can be extended using client-specific data like margin, fulfillment method, product codes etc. Messages can be categorized into different classes and flagged as appropriate for different channels. The various data elements (some pre-defined, others identified by the user as being available in a specific channel or system) are available in a tree-like view. A set of conditions can be Figure 3: Message Manager defined based on these elements and ANDed or ORed together in various combinations using a point and click interface. The message history and current interaction can be used to build rules that understand things like “displayed in the last 10 days in any channel”. Client-specific attributes can be defined with allowed values and this too drives the UI to display the allowed value in the context of a condition. This end result is a Source: Teradata rule that defines eligibility for each message and prioritization of these messages is defined. Message Strategy A central concept in RTIM is that of a message strategy. Message strategies describe how messages are selected and prioritized. As shown in Figure 4: Message Strategy And Arbitration below, the user can select from various business objectives defined in the system and give them a relative weight. Messages are associated with the objectives and arbitration metric to specify how messages would be prioritized. Once defined, the user can identify where within the customer interaction to use the message strategy. © 2014 Decision Management Solutions 6
    • Integrating Inbound Marketing Figure 4: Message Strategy And Arbitration Source: Teradata Analytics and Reporting RTIM has a full range of reporting capabilities. In addition, analytic models can be defined outside RTIM and passed in as scores for use like other customer attributes. Figure 5: Analytics and Reporting Two self-learning models are built automatically by RTIM to assess the likelihood of a customer accepting (by channel) and Source: Teradata the likely impact of the message on interaction length (longer or shorter). Each model shows how different attributes contribute and can be used to prioritize the messages displayed. © 2014 Decision Management Solutions 7
    • Integrating Inbound Marketing Teradata Integrated Marketing Management Teradata Real-Time Interaction Manager is part of the overall Teradata Integrated Marketing Management suite shown in Figure 6: Teradata IMM below, Figure 6: Teradata IMM Source: Teradata Teradata IMM has components designed to handle everything from marketing operations to campaign management, customer engagement through real-time interactions across channels and driving relevant marketing analytics for improving customer engagement and operations. Specifically:  The Marketing Operations components support plan and spend management, workflow and project management, and asset management.  Campaign Management supports a decision-centric approach to campaign management with support for real-time marketing and outbound marketing.  Real-Time Interaction Management focuses on handling inbound marketing offers and interactive channels.  A Customer Information Hub brings together inbound and outbound activities to focus on the next best offer or next best action for a customer. Teradata IMM also has links to digital marketing platforms focused on web analytics, to Salesforce automation and CRM systems and to email marketing providers. © 2014 Decision Management Solutions 8
    • Integrating Inbound Marketing Campaign Management Campaign management in Teradata IMM is evolving along with the transition occurring in the market. The traditional view of Campaign Management originally involved identifying segments, targeting segments and selecting channels before developing and executing campaigns to deliver this. As companies have transitioned to more digital channels, and more real-time digital channels the approach focuses on segmentation, dialogue design, digital messaging and real-time interaction. This is managed from a Customer Interaction Management (CIM) hub that pulls together all the various elements. From analytics (BI, web analytics and predictive analytics) as well as attribution and channel management for inbound and outbound channels to a focus on creating dialogs with customers and on responding to events with eventbased marketing. Customer Interaction Management Hub Figure 7: Teradata Customer Interaction Management Hub Source: Teradata The Customer Interaction Manager hub lays out customer journeys and interaction or campaign flows. Data can be pulled in from Teradata Products but also from Oracle and SQL Server. Social channels, like Facebook, are integrated so customer data from these channels can be added. This integrated view allows segmentation to be developed across all these different sources of customer information. Campaign flows can include emails, obviously, but the content of these emails can be customized based on the real-time state-of-the-customer interaction. © 2014 Decision Management Solutions 9
    • Integrating Inbound Marketing Advanced and predictive analytics can be used in the segment definitions and realtime responses can be injected into the flow to ensure it responds to customer actions. This provides a “traditional” campaign view that integrates inbound events and social channels—users can immediately respond to customer interactions but can also use those interactions to change what happens on a scheduled campaign. When deployed with the Customer Interaction Management hub Teradata IMM coordinates communications automatically between the inbound and outbound channels, consolidating contact history, leveraging common marketing collateral, and sharing business rules. This allows integrated approaches such as following up on an offer via an SMS a few hours after the customer browsed related content or offer collateral on the website. This integrated approach to interaction management is shown in Figure 8: Inbound and Outbound Integration below. Figure 8: Inbound and Outbound Integration Source: Teradata © 2014 Decision Management Solutions 10
    • n Integrating Inbound Marketing Moving Forward Teradata Real-Time Interaction Manager (RTIM) is a mature Next Best Action solution available on-premise or in the Teradata Cloud. RTIM can be deployed standalone, with no other products from Teradata, or as part of an integrated solution when combined with the rest of the Teradata Integrated Marketing Management suite. Similarly, while there is integration with Teradata and Teradata Aster, RTIM can be integrated into a variety of data infrastructures. RTIM provides some powerful capabilities for Next Best Action. RTIM can help companies address a wide range of challenges including:  Launching a new digital marketing initiative.  Coordinating real-time decisioning with campaign management.  Integrating contextual, social, and digital data sources.  Managing and testing different customer experience strategies.  Leveraging big data infrastructure. For more information on Teradata Real-Time Interaction Manager go to www.teradata.com/Teradata-Applications/Solutions/Real-Time-Interaction-Manager/ References Taylor, James. Decision Management Systems: A Practical Guide to using Business Rules and Predictive Analytics. New York, NY: IBM Press, 2012; 1. Data-Driven: How marketers profit from technology in a multi-channel world 2. Teradata Data-Driven Marketing Survey 2013, Global 3. How Forrester Clients are Using Big Data. Forrester Research, September, 2011 Contact Us If you have any questions about Decision Management Solutions or would like to discuss engaging us we would love to hear from you. Email works best but feel free to use any of the methods below. Email : info@decisionmanagementsolutions.com Phone : +1 650 400-3029 Web www.decisionmanagementsolutions.com : © 2014 Decision Management Solutions 11