Knowing Your Niche
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At our recent partnership event with Bench and Microsoft, Paul Stephen (Agency CEO) discussed how 'knowing your niche' can set you apart from the competition and help you achieve a 'customer-centric' mindset.
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Knowing Your Niche
- 1. WIFI: MSFTGUEST Attendee Code: msevent12pg
- 3. knowing your niche. 20th June2018 Paul Stephen C.E.O.
- 4. “We are Metallica and this is what we do”
- 6. @SagittariusMktg tangibles service levels uniqueness logo & C.I. perception strategic focus brand proposition.
- 8. @SagittariusMktg what is your brand proposition?
- 12. @SagittariusMktg 0% 4% 8% 12% 16% 0 1B 2B 3B 4B 2009 2010 2011 2012 2013 2014 2015 2016 2017 Y/YGrowth labolG,sresUtenretnI Global Internet Users Y/Y Growth Internet Users vs. Y/Y Growth internet users. 7% y-o-y
- 13. @SagittariusMktg smartphone shipments. 0% y-o-y New Smartphone Unit Shipments vs. Y/Y Growth 0% 30% 60% 90% 0 0.5B 1.0B 1.5B 2009 2010 2011 2012 2013 2014 2015 2016 2017 Y/YGrowth labolG,stnempihSenohptramSweN Android iOS Other Y/Y Growth
- 14. @SagittariusMktg eCommerce sales. 16% y-o-y E-Commerce Sales + Y/Y Growth 0% 4% 8% 12% 16% 20% $0 $100B $200B $300B $400B $500B 2010 2011 2012 2013 2014 2015 2016 2017 E-Commerce Sales Y/Y Growth E-ASU,selaSecremmoC Y/YGrowth
- 15. @SagittariusMktg is driving product improvements / usefulness / usage innovation & competition. devices access simplicity payments local messaging video voice personalisation
- 16. @SagittariusMktg data improves engagement + experiences... getting personal.
- 17. @SagittariusMktg - …Social Media Discovery Driving Purchases 44% 11% 45% 55% = Bought Product Online After Social Media Discovery Social Media Driving Product Discovery… 22% 34% 59% 59% 78% 0% 50% 100% Snap Twitter Pinterest Instagram Facebook % of Respondents, USA (18-65 Years Old) % of Respondents that Have Discovered Products on Platform, USA (18-34 Years Old) Bought Online Later Bought Online Immediately Never Bought / Other social media targeting growth. Source: Curalate Consumer Survey 8/2017 social media driving product discovery… social media discovery driving purchases
- 18. @SagittariusMktg not a new idea.
- 19. @SagittariusMktg CRO – the basics.
- 20. @SagittariusMktg 200,000 visits 2,000 orders 1% conversion rate £1,000 aov how do we increase revenue? = £2m
- 22. @SagittariusMktg 200,000 visits 2,000 orders 1% conversion rate £1,000 aov increase visits. 400,000
- 23. @SagittariusMktg 200,000 visits 2,000 orders 1% conversion rate £1,000 aov increase average order value. £2,000
- 25. @SagittariusMktg in reality, it’s a combination.
- 26. @SagittariusMktg 250,000 visits 3,125 orders conversion rate £1,280 aov visits, conversion and aov. 1.25% = £4m
- 27. @SagittariusMktg e.g. organic search or native ads Retargeting Facebook ads RLSA Personalisation User Experience Email the optimum funnel?
- 28. @SagittariusMktg often too much focus at the top of the funnel.
- 29. @SagittariusMktg good UX is an expectation.
- 30. @SagittariusMktg but UXis often just reducing the friction.
- 31. @SagittariusMktg to truly improve customer experience we need to understand them first. the appliance of science.
- 32. @SagittariusMktg understand your customer segments understand the real customer journeys by segment, lead or point in customer lifecycle data is the key…
- 33. @SagittariusMktg customer journey successesAND the failures both are opportunities for personalisation reducing the friction a/b testing product development what are the opportunities?
- 34. @SagittariusMktg the opportunity for magic.
- 36. what is personalisation? 38% increased investment expected in the next 12-18 months
- 39. @SagittariusMktg 18 hotels/brands London,Ireland,USAand SouthAfrica Multi-nodeSitecore instance Multi-lingual
- 40. 40
- 41. 41
- 42. 42
- 43. 43
- 44. 44
- 47. @SagittariusMktg 19.3% increase in e-commerce conversion rate 15.3% increase in online transactions 13.3% increase in booking value
- 48. 48
- 49. 49
- 50. @SagittariusMktg 90% of the users wereB2B and 10% B2C Very differentcustomer journeys Self-serve a critical KPI Actually 40% B2B and 60% B2C
- 51. @SagittariusMktg
- 52. @SagittariusMktg keep up with evolving customer demands deliver relevant targeted content in real time allowing you to make contextual decisions personalisation lets you…
- 53. @SagittariusMktg Digital touchpoints Physical touchpoints AWARENESS CONSIDERATION ACTION SERVICE LOYALTY TV Radio Print Outdoor PR Word of mouth Direct mail Store Call center Call center IVR Promotion on invoice Online Ads Viral email Digital billboards Search Landing page Blog 3rd Party sites Website Mobile IM/Chat Blog Email Newsletter Customer 3Customer 2Customer1 decisions are not made in straight lines it’s complex.
- 54. @SagittariusMktg
- 55. @SagittariusMktg help is at hand?
- 57. @SagittariusMktg “Our goal is to democratiseAI to empower every person and every organisation to achieve more. “The core currency of any business going forward will be the ability to convert their data intoAI that drives competitive advantage” “Every developer can be anAI developer, and every company can become anAI company” @SagittariusMktg Satya Nadella, CEO, Microsoft
- 59. @SagittariusMktg + = magic. data and analytics. = BusinessAnalysts DataAnalysts DataScientists Strategists AI Specialists CRO Consultants User Interface Designers Creatives and more…
- 60. @SagittariusMktg recap. it always works. start with analytics. know your customer. the whole experience. repeat.
- 62. @SagittariusMktg Q&A Graham Halling Director of Consulting Paul Stephen CEO James Marshall Technology Strategist Stephen Gilbert CRM/Digital Transformation Expert
Editor's Notes
- Be more Metallica (video) “We are metallica and this is what we do” Who like metallica? Me neither. But that’s not my point. There are clearly thousands of people who ‘love’ metallica with a passion. They are one of the world’s most acclaimed rock bands. But even then they are a niche within a niche. They’re not trying to appeal to all rock fans. You know what you are going to get If you don't want that don't go there My point is, there is no doubt what Metallica’s brand proposition is. They know it and they stick to it.
- Brand Proposition So as Josh suggested, in this world of choice a brand needs to be clear about its brand proposition. So I want to start with what do we mean by ‘brand proposition’? There are all sorts of ways I could explain this and I’m not really here to give a lecture on this but essentially its about recognising that your product or service is not for everybody. Even within a brand you might need to differentiate based on customer type and price point.
- Brand Position pt2 Essentially brand position online is no different to brand position offline. There are all sorts of ingredients that go in to a brands proposition like …. But all of these components lead back to one thing…
- Who are your customers? Understanding your customer. Essentially defining who is your ideal customer and what is it that you sell that they might want.
- What is your proposition? What is it that you do best – or better than anyone else. We can’t be all things to all people. And it is rare that you are genuinely unique. So when it comes to talking to our customers we have to have a story that is compelling.
- Aristotle - The Greek philospher talked about Ethos, Pathos and Logos in 350 BC modes of persuasion Ethos, Pathos and Logos are modes of persuasion used to convince audiences. They are also referred to as the three artistic proofs (Aristotle coined the terms), and are all represented by Greek words. Ethos or the ethical appeal, means to convince an audience of the author’s credibility or character. Ethos can be developed by choosing language that is appropriate for the audience and topic (also means choosing proper level of vocabulary), making yourself sound fair or unbiased, introducing your expertise or pedigree, and by using correct grammar and syntax. Pathos or the emotional appeal, means to persuade an audience by appealing to their emotions. The words empathy and pathetic are derived from pathos. Pathos can be developed by using meaningful language, emotional tone, emotion evoking examples, stories of emotional events, and implied meanings. Logos or the appeal to logic, means to convince an audience by use of logic or reason. To use logos would be to cite facts and statistics, historical and literal analogies, and citing certain authorities on a subject. Do I trust you Do I like your story and is it relevant to me Can you prove it.
- The business case You’re all here today so I have to assume you want to improve your results and want to learn how others approach it.
- At 3.6B, the number of Internet users has surpassed half the world’s population new growth gets harder to find - evidenced by 0% new smartphone unit shipment growth in 2017. Internet usage continues to grow at a fairly consistent 7%/yr but its from other areas. Growth Harder to Find After Hitting 50% Market Penetration
- At 3.6B, the number of Internet users has surpassed half the world’s population new growth gets harder to find - evidenced by 0% new smartphone unit shipment growth in 2017. Internet usage continues to grow at a fairly consistent 7%/yr but its from other areas. Growth Harder to Find After Hitting 50% Market Penetration
- At 3.6B, the number of Internet users has surpassed half the world’s population new growth gets harder to find - evidenced by 0% new smartphone unit shipment growth in 2017. Internet usage continues to grow at a fairly consistent 7%/yr but its from other areas. Growth Harder to Find After Hitting 50% Market Penetration
- E-Commerce = Acceleration Continues @ +16% vs. +14% Y/Y E-Commerce vs. Physical Retail = Share Gains Continue @ 13% of Retail Worldwide E-Commerce Share Gains Continue... China @ 20% = Highest Penetration Rate + Fastest Growing
- The implementation of personalisation is to ultimately improve conversion. CRO is more often than not about increasing revenue...so how do we go about this? We have put together a model to help us visualise this.
- RUTH – How do we increase revenue?
- The funnel So lets just stop for a moment. We’re saying that many brands have 100 people walking in to their virtual shop and only 1 of them actually buys something. That’s nuts isn’t it? There has to be something wrong here. There either has to be something wrong with the how these 100 arrive in the top of the funnel or something to do with what we do with them once we’ve got them. 100 people to 1 diagram So how do we increase the amount that convert?
- RUTH – Increase Visits
- RUTH – Increase aov
- RUTH – Improve conversion rate
- RUTH – In reality it’s a combination
- RUTH – Combination of all
- The optimum funnel So what you should be doing is this… Organic Search or Native Ads So we have to find our new audience or expose the brand somewhere. Ideally this would be educational or inspirational content. So for the purposes of this lets start there. The come to the site and engage with us by using the site. In a perfect world we would be looking at what parts of the site or what particular products were the most appealing to them. But they don’t convert (yet) We would then ‘retarget’ them on thorough relevant third-part sites We might retarget them within Facebook We might use Google’s RLSA feature to bid for slightly broarder keywords that would normally be expensive but by only exposing ourselves to people who have been to our website before we pay less and will invariably get higher click through rates. If we have along the way managed to capture their email address then obviously we should be targeting them with timely and relevant emails. Again, not just add them to a generic newsletter blast that everyone gets. Ideally something that’s based on what you know about them. Then last but not least, spening time to llok at where are the opportunities on the website itself to ‘reduce the friction’ and improve the user experience through design changes or personalisation. Again though you do need the analytics and A/B testing tools to do this. If you do all of this I guarantee you have a bit more than 1% dropping out the bottom of the funnel. I thought I’d finish up by just showing you some examples so you know I’m not just making this stuff up.
- Often Focus on top of funnel (acquisition), add to basket process and basket abandonment Price is an appeal the first time Order/dispatch feedback and packaging a ‘nice experience’ - builds loyalty
- Often Focus on top of funnel (acquisition), add to basket process and basket abandonment Price is an appeal the first time Order/dispatch feedback and packaging a ‘nice experience’ - builds loyalty Payment options - do I really have to go and find my credit card?
- In order to truly understand the opportunities and prioritise we need data.
- Personalization lets you keep up with evolving customer demands delivering targeted content in real time and then making contextual decisions based on results that you trust. It is essentially the method for: displaying targeted relevant content to your sites visitors You can personalise base on a users characteristics and behavior, such as location, goals triggered, or previous visits.
- Personalization lets you keep up with evolving customer demands delivering targeted content in real time and then making contextual decisions based on results that you trust. It is essentially the method for: displaying targeted relevant content to your sites visitors You can personalise base on a users characteristics and behavior, such as location, goals triggered, or previous visits.
- Friction creates magic – if we truly understand our audience we can turn friction in to magic
- How do we turn marketing conversations in to using the various marketing assets in to analytics and insights that drive business change. Agencies can legitimately help brands connect technology to experiences. We are the ‘sense makers’. We also help find the problem in the first place through data and analytics. Sadly 80% of IT budget is often just being spent on keeping the lights on
- What is Personilsation? Personalization is a tool that most marketers aspire to deliver, but research shows that very few actually do. With 38% more companies planning to increase investments in personalisation in the next 12-18 months, we look at how you can keep up with the latest digital trend.
- With personalization, you can ensure that the right content reaches the right contacts, for example, by showing, hiding, or adjusting content. Let’s take a look….. {walk through examples}
- Segmentation not personalisation Too many people to be personal We need put people in to buckets Profiles not personas
- Bullets to explain the size of the group and its key challenges with multiple markets As with all hotels we want to try and increase online conversions and each hotel has different facilities and appeal This case study is how we have taken our first steps in to personalizing the experience on just one of hotels. Its deliberately simple to prove the point.
- This is the old site Very cluttered No clear call to action No clear direct link in to booking engine
- This is the new layout Its largely the same information Its simple but the Check Availability button in the middle of the main image a significant CTA success More flexible layout structure Mobile views much better too
- 17.2% Effect – uplift in to the booking engine Test carried out over 60 days Initially only tested only 25% of traffic but increased to 75% as positive results became evident Sitecore recommend 3130 during 90 day to be sensible data
- Ashford Castle – mainly US then Ireland Oysterbox – mainly South Africa then UK Montague – UK then US So we can use this location info to drive a personalisation strategy that focusses on your likely interest based on your location
- Change in profile based on hotel Clear split on people booking rooms or restaurant We’ve taken this data and introduced changes to the home page content which will amplify the restaurant or encouraging you to book at the moment. 13% increase in average time on page 15% decrease in bounce rate overall and 7% decease on the subsequent landing pages too.
- Primary visit is to establish what type of guest you were, either interested in rooms or restaurant bookings. The content is very generic to the hotel offering with a clear spit between stay guests and promotion of restaurants and amenities. Key personalisable components/areas of the home page Lead image banner - CTA to ‘General Enquiry’ Hotel Overview - focussed on heritage and brand awareness Carrousel Component - promoting the restaurants at the Rubens Component to review the rooms and suites offering.
- Stay Guest - 'Stay Suzie’ If you are identified as being a ‘Stay Guest’ then users will only be shown content on the home page to promote offers to stay at the Rubens. Personalised Content: Lead image banner - promote ‘Special Offers’ on rooms and suites Hotel Overview - focussed purely on amenities. Carrousel component - promoting exclusive offers on rooms. Panel to promote the different types of rooms that you can book at the Rubens Hotel. Supporting Video content Embedded Trip Advisor reviews - keeping you on site. Food and Drink Guest - ‘Food and Drink Diana’ If you are identified as being a ‘Food and Drink Diana’ then users will only be shown content to help promote restaurant bookings and afternoon tea bookings. Personalised Content: Lead image banner - promote ‘Special Offers’ on restaurants and afternoon tea - to show case the restaurant options. Hotel Overview - focussed purely on the restaurant options. Carrousel component - promoting exclusive offers at the restaurants Panel to promote the different types of cuisines types. Supporting Video content
- Year on year Ecommerce conversion rate up 20% 15.3% increase in online transactions 13.3% increase in booking value ALSO Bounce Rate - down by 14% Shows that the relevant content is promoted at the right stage of the process. Page Views are down by 11.5% this shows that we are presenting more relevant content faster.
- So another thing we can do is look at what channels are driving the right sort of traffic. Measuring bookings is the ultimate KPI but in the mean time we need to work out which paid traffic is drivin g the right sort of engagement. Then we can look at improving the on-site conversion of those users Google is winning on volume but Bing is winning on engagement value so pound for pound is giving better ROI
- Here I’m showing you how we then look to prioritise what we improve next by looking at customer journeys are ‘most comment’ and result in a positive outcome Trip Advisor is clearly a good traffic driver and appears to be a gateway to other hotels in the group too An important KPI as the group wants to become less dependent on other OTAs This kind of customer journey analysis is l possible have the tools to do it and if you’ve got sensible Goals and data tagged up correctly Priorities for the next customer journey to improve We could also start possibly comparing this journey across multiple hotels So as you can see with different channels and possible customer journeys to analyse we will be moving towards a point where there are too many permutations to identify. This is where the next phase in personalization come in that will use Artificial Intelligence to identify key trends and opportunites and propose possible solutions. Cortex
- Firstport are… When we originally briefed by the client, there was the assumption that 90% of the users were B2B and 10% B2C There was a key objective within the business to be able to convincingly communicate to both the B2B and the B2C client base, therefore content and personilsation were key. In 2015 FirstPort’s customer service team, a team that deal with 180,000 customers and around 25,000 emails and phone calls per month, set about a complete review of their customer service capability and customer satisfaction levels. new site we actually found that we had 40% B2B users and 60% B2C.
- Much of the work on the site focussed on using the different types of content to build up a profile of a user For example with personalisation we have actually improved the user journey to shorten this process and take B2C users directly into the Help and Advice section of the website. And the about us for B2B Here is an example of some of the user types. As you can see Job Seeker also became quite an important segment. In 7 months 5% drop in bounce rate and a 6% increase in pages viewed 11% in the average length of each visit Other good stats including Mobile traffic has increased by 22%
- Personalization lets you keep up with evolving customer demands delivering targeted content in real time and then making contextual decisions based on results that you trust. It is essentially the method for: displaying targeted relevant content to your sites visitors You can personalise base on a users characteristics and behavior, such as location, goals triggered, or previous visits.
- We know that decisions are not made in straight lines. People bounce around and we let them, NO, we ENCOURAGE them to by offering inspiring content, through blogs, thought pieces, white papers, videos, call back requests, contact forms, social polls...the list goes on! It’s impossible to be one step ahead of all users, so we need to think of the potential touch points to help convert this process. We do this through understanding the users goals and the personas and profiles that we are trying to target.
- Now let’s take a look at our goals and map these out throughout the complete user journey and all the channels that we have at our disposal…
- China has notched up another first in its battle for supremacy in the field of artificial intelligence - overtaking the US in terms of AI startups funding. Arguably it's a small notch - for a country banking on AI to become a $150bn industry, VC money is pocket change - but it's a big jump. Last year almost half the global investment into AI startups went to China, up from a mere 11.3 per cent slice in 2016. China naming and shaming with AI - YouTube