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Transforming The Customer - Silverpop


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Transforming The Customer - Silverpop

  1. 1. Transforming the Customer Experience: Increase Engagement and Drive Revenue for Retail & Ecommerce #SpopWebinar Webinar Sponsored by
  2. 2. #SpopWebinar GoToWebinar Type question here
  3. 3. #SpopWebinar Follow The Webcast On Twitter #SpopWebinar @RTouchPoints
  4. 4. #SpopWebinar About Retail TouchPoints  Launched in 2007  More than 28,000 subscribers  Provide executives with relevant, insightful content  Free Resources such as White Papers, E-book, Webinars, Research and Podcasts
  5. 5. #SpopWebinar Today’s Panelists Andrew Gaffney Publisher Retail TouchPoints MODERATOR Stephen Dumas Product Marketing Director, Enterprise and Retail Solutions Silverpop, an IBM company
  6. 6. Transforming the Customer Experience: Increase Engagement and Drive Revenue for Retail & Ecommerce IBM Industry Cloud Solutions Copyright 2014 IBM Corporation
  7. 7. Copyright 2014 IBM Corporation Agenda • Learn how consumer trends are driving retail marketing changes • See how consumer behaviors are affecting campaign outcomes and driving revenue • Learn how automation technology optimizes the customer life cycle • See examples of great informed contact strategies retailers are using today
  8. 8. Copyright 2014 IBM Corporation TRENDS Consumer Trends Driving Retail
  9. 9. Copyright 2014 IBM Corporation Retailers are among the lowest benchmarked open and click rates for email, but are one of the top industries among click to open rates. Retail consumers know what they like. 17.9% 2.4% 12.5% OPEN RATE CLICK RATE CLICK TO OPEN 1/3 lower than top verticals 50% lower than top industries Consistently a top vertical
  10. 10. Copyright 2014 IBM Corporation Shoppers love to be …rewarded. …recognized. …retained. Retail marketers are embracing the prevalence of useable marketing data through CMOs & CIOs, Platform Investments and Analytical People. $232 Billion BIG DATA of executives say they need to embrace data to succeed 75% will drive in spending through 2016 70%of data is created by individuals 80%is managed and stored by Enterprises
  11. 11. Copyright 2014 IBM Corporation Source: April 10, 2013, “The Customer Life Cycle: A Blueprint For Customer-Obsessed Enterprises” Forrester report Gone is the linear view of thinking through a consumer purchase journey. Customer activity is constant and can inform a new lifecycle strategy. …in the right context. It’s just not that simple anymore. 36% of firms are developing sensor based technology Context is now the imperative. 62% of marketers will grow digital budgets in 2014. Activity is being captured in real time on location.
  12. 12. Audience paradigm vs. Conversational paradigm
  13. 13. Copyright 2014 IBM Corporation CONSUMER BEHAVIORS Effectively Using Consumer Behaviors to Drive Engagement
  14. 14. Likely more than 50 different behaviors
  15. 15. Copyright 2014 IBM Corporation $$ ROI CHURN
  16. 16. Copyright 2014 IBM Corporation Understands Behaviors
  17. 17. Copyright 2014 IBM Corporation Explicit Data
  18. 18. Copyright 2014 IBM Corporation Implicit Data “What customers do is far more important than what they say”
  19. 19. Copyright 2014 IBM Corporation CRM ECOMMERCE INVENTORY WEB ANALYTICS System Data
  20. 20. Copyright 2014 IBM Corporation Connects the Dots Connect all the ways that each customer interacts with your brand SINGLE IDENTITY
  21. 21. Copyright 2014 IBM Corporation 1 1 2 6 3 4 5 7 8 Subject Line Personalization First name personalization Personalized Content Name and contact info for each customer’s personal rep Dynamic Subject Lines The subject line changes based on the type and duration of club membership Individualized Content Lists For any customer who has purchased two or more items in the last 90 days, list each purchase with review links E-commerce-driven Personalization Display totals and other engaging content to drive follow-on purchases. Website-driven Content Directly track each customer’s web activity and prompt them to visit new areas of the site. Send Time Optimization The message arrives in each individual’s inbox at precisely the time that individual is most likely to check email. Data-driven Dynamic Image Image is selected based on demographic and profile info Score-driven Dynamic Offer Discounts/prices vary by social influence and time since last purchase 1 2 3 4 5 6 7 8 Truly IndividualizedEmailMessaging 21
  22. 22. Copyright 2014 IBM Corporation AUTOMATED TRIGGERS Optimize Customer Lifecycle Marketing
  23. 23. Automate completely personal one-to-one interactions that drive customers down the path to conversion. Automates Interactions Hey Jim! Don’t miss the Cycling Expo coming to Atlanta! INTERACTIONENGINE
  24. 24. Copyright 2014 IBM Corporation Abandon Cart/Welcome /Browse Retargeting BILL “the cart abandoner” GENDER SOURCE AGE 22M the new customer the cart abandoner the browser CATEGORY VIEWS PREFERENCES CART DATA LOCATION
  25. 25. Copyright 2014 IBM Corporation Post Purchase/Loyalty/Replenishment JANE “the new customer” GENDER INTERESTS PURCHASE HISTORY AGE 26F the new customer the cart abandoner the browser PREFERENCES LOCATION
  26. 26. 88% 12% Volume Broadcast Automated 70% 30% Revenue Broadcast Automated Low volume, high ROI Automated Emails 4 years ago = 2% volume / 1% revenue TodayVolume = 6X; Revenue = 30X
  27. 27. Copyright 2014 IBM Corporation ENGAGEMENT MARKETING
  28. 28. Browse Abandon • 20% - 50% conversion rates lifts Sent Delivered Opened Clicked Product Views Cart Additions Checkouts Orders Revenue Units WEB
  29. 29. Cart Abandon • 87% of consumers abandon carts • …75% say they will return to complete the purchase. • Following up with abandoners by email yields up to 50% conversion.
  30. 30. Welcome! Onboarding Email(s) • Dynamic based on specific category items browsed • 3-5 emails series • Top sellers/recommendati ons • Ends with “best offer”
  31. 31. Copyright 2014 IBM Corporation Repeat Buyers are key to Growth & Sustainability • Study of online retailers doing retention marketing: • Generated 55% of their 2012 eCommerce revenue from the 31% of customers who were Repeat Buyers. • Increased their number of Repeat Buyers by 47% vs 2011. From
  32. 32. Incorporates • Offer based on loyalty status, LCV, new customer • Specific category items browsed • Top sellers/recommendations Best Buyer
  33. 33. Copyright 2014 IBM Corporation RFM Analysis Primer F = Frequency: Number of purchases made R = Recency: Time since last purchase M = Monetary Value: Amount spent by a customer
  34. 34. Copyright 2014 IBM Corporation Churning Customer Segment: “R4F1M1” Quartile 4 (M=4) Quartile 3 (M=3) Quartile 2 (M=2) Quartile 1 (M=1) Quartile 4 (F=4) Quartile 3 (F=3) Quartile 2 (F=2) Quartile 1 (F=1) Quartile 4 (R=4) Quartile 3 (R=3) Quartile 2 (R=2) Quartile 1 (R=1)
  35. 35. Engagement segments Impact on purchases
  36. 36. Copyright 2014 IBM Corporation Loyalty Example GOALS Stonyfield has two main objectives with its email, and overall, digital marketing efforts. Those include: • One-to-one relationships with each customer • Building customer loyalty and engagement RESULTS • The first 30 days: 42 percent open rate • Campaign average open rate: 33 percent
  37. 37. Copyright 2014 IBM Corporation Dynamic offer: • Loyalty status • LCV • New customer • Never purchased Birthday Email 2.0
  38. 38. Autoship Reminder Email • Reminds customer of upcoming SmartPaks order • Allows customer time to make changes before order is processed • Top revenue generating triggered email The results: • 36% open rate • 13% click-through rate • $1.39 revenue-per-email • 18%+ conversion rate Real time products based on purchase behavior
  39. 39. Copyright 2014 IBM Corporation 39 Welcome & Thank Manage Latency Intention Marketing Listen & Learn Deepen Relationship Recommend on Affinity Contests & Gifts Segment & Personalize Surprise & Reward Win Back Keys to Retention Marketing Success: 1. Leverage Customer, Product, & Purchase History Data 2. Ongoing RFM (Recency, Frequency, Monetary) Analysis 3. Automate Retention Marketing to Maximize Conversions & Value throughout the Lifecycle The Keys to Retention
  40. 40. Copyright 2014 IBM Corporation CROSS CHANNEL STRATEGIES Mobile, SMS and Transactional
  41. 41. Copyright 2014 IBM Corporation What ifYou Could:
  42. 42. Copyright 2014 IBM Corporation Right message, Right medium 4
  43. 43. Copyright 2014 IBM Corporation In-store • Great informed in store services • Pick-Up In store, order online • Order in-person, have shipped or email follow-ups • Social sentiment and customer service • SMS notifications and store or service awareness and delivery
  44. 44. • Jake Rawlins • Online & Offline customer • Mobile app user Mobile App + Geo-fencing + Universal Behaviors
  45. 45. Sales associate engages customer based on purchase behavior and LCV Buyer alert triggered by geo-fencing and use of mobile app
  46. 46. Copyright 2014 IBM Corporation Dynamic Rewards Personalize Behavior Scoring
  47. 47. Copyright 2014 IBM Corporation H&M now ONLINE EXCLUSIVE! Straight from the Paris runway, pre- shop our much anticipated Paris Show Collection today! AMC Theatres now AMC: Show AMX Stubs in theaters today & receive $10 Bonus Bucks instantly for snacks… Allergy now Remember to Log Your Allergies: Gain insight into what helps and what doesn’t. OK: Broadcast Message all app users GOOD: Narrowcast Message some app users based on rules & segments GREAT: 1:1 Cast Message individual users based on user preference, behaviors and location
  48. 48. Copyright 2014 IBM Corporation • Alerts & Promotions • Coupons • Store Locator • New Products • Sale Events • Birthday Specials • Gifts • FreeOnline Shipping Acme: Just for you – extra 25% off your $100 purchase! Details: Use promo code SPRING & shop now: Rply STOP to quit. Acme: Happy Friday! Get Buy One, Get One FREE today 3/25 from 3-5pm. Not valid w/ other offers. Only 1 offer per text. Reply STOP to quit. Acme: Get your coupon for 20% off 1 item. Click for offer. Reply STOP to end. Msg&data rates may apply. Acme: One Day Sale. Great limited-time deals + FREE shipping every day! Visit for details. Rply STOP to quit. Retail
  49. 49. Copyright 2014 IBM Corporation One-to-One on the Web
  50. 50. Copyright 2014 IBM Corporation CASE STUDY Examples of How One Retailer Is Leading the Way
  51. 51. Copyright 2014 IBM Corporation Wedding Campaign The first email in campaign asks if customers are shopping for themselves or for a friend
  52. 52. Copyright 2014 IBM Corporation 52 Campaign Logic Email topic breakdown: YourWedding • Wedding Invitations • Wedding essentials • Wedding favors • Bridal party gifts • Thank you cards Friend’sWedding • Bridal shower invites • Shower tableware • Bachelorette invites • Bachelorette tableware • Wedding gifts
  53. 53. Copyright 2014 IBM Corporation 53 Email track: Your Wedding
  54. 54. Copyright 2014 IBM Corporation 54 Email track: Friend’s Wedding
  55. 55. Copyright 2014 IBM Corporation 55 Wedding Campaign Results Combined, these targeted emails have resulted in: • Open rate: 244% increase over average email send in 2012 • Click rate: 161% increase • Revenue per mailing: 330% increase
  56. 56. Copyright 2014 IBM Corporation Data in Silos Fragmented picture of customers Lack of Control Lack of control over data Relevant Content Inability to customize content Right Channel Get customer’s attention Real-time Execution Inability to execute in real-time Lack of Insight How individuals interact with your brand What business challenges does Silverpop solve?
  57. 57. Copyright 2014 IBM Corporation The Silverpop Marketing Platform UNIVERSAL BEHAVIOR Capture Every Action Captures and manages behavior across every digital and offline channel to build unparalleled insight into each individual SINGLE IDENTITY Connect The Dots Connects every customer touch point into a single view MULTI- CHANNEL Communicate Across Platforms Sends personalized messages everywhere each customer prefers to connect BEHAVIORAL INSIGHTS Understand Path To Revenue Discovers customer preferences by analyzing data from all devices and channels MARKETING DATABASE Manage Behaviors At Scale Manages everything about each customer, easily and at scale INTERACTION ENGINE Automate Communications Gets personal with each customer, one at a time and in real- time
  58. 58. #SpopWebinar Submit Your Questions // Q&A Type question here
  59. 59. #SpopWebinar Q & A // Panelists Andrew Gaffney Publisher Retail TouchPoints MODERATOR Stephen Dumas Product Marketing Director, Enterprise and Retail Solutions Silverpop, an IBM company
  60. 60. #SpopWebinar Thank You For Joining Us! Download the slides from this presentation: