Measuring engagement and revenue throughout the customer lifecycle by Silverpop

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In this presentation, Silverpop highlights several steps marketers should be taking in order to ensure engagement levels and the bottom line continue to rise, including the following:

Connecting revenue to the specific marketing channels and campaigns driving it

Integrating digital marketing and ecommerce systems

Developing campaigns targeted at crucial points in the buyer journey, such as first purchase, repeat customer and win back

Measuring and tracking customer engagement levels in order to target communications and understand resulting impact on engagement

Published in: Marketing

Measuring engagement and revenue throughout the customer lifecycle by Silverpop

  1. 1. Measuring Engagement and Revenue throughout the Customer Lifecycle
  2. 2. Presenters Darryl Bolduc Adam Steinberg
  3. 3. Agenda • Being Effective • Adding Data • Integrating Insights • OrganizingTechnology Systems • Questions & Answers IN TO WITH FOR
  4. 4. BEING EFFECTIVE InToday’s Sophisticated Marketing Environment
  5. 5. Being Effective We’re expected to have only effective efforts in a very complex and sophisticated marketing environment. • Measuring effectiveness is not optional • Budgets must be justified • Brands want to feel understood • Businesses must grow • Customers demand value, or they leave…
  6. 6. Most Marketers HaveTrouble Measuring Marketing analytics have come a long way… • Everyone has data - 40% say so • Few say they can leverage it properly • Due to lack of time and resources, and expertise • Most produce “reports” and not “insights” • Engagement is among the top measured … now just add revenue! Source: MarketingSherpa powered by MECLAB: 2013 Marketing Analytics Benchmark Report. © 2012 MarketingSherpa Marketing Analytics Benchmark Survey Methodology: Fielded November 2012, N= 1053
  7. 7. Effectively Mapping the Journey The number of channels continue to increase, evolve and don’t show any signs of slowing down. • Export events as they happen • Organize relevant relationships • Augment data when you can • Centralize data for measurement • Make time work for you Source: Forrester Research: The Funnel We Need: Follow Customers as They Actually Behave: A 4-Stage Cycle Where 'Earned, Owned and Paid,' and 'Traditional and Digital' Don't Matter
  8. 8. Effectively Connecting Experiences The ways marketers connect these activities and efforts can help make the big picture much more clear • Exposing order & inventory visibility • Aligning LOBs & customer segments • Creating a common digital footprint • Connecting call centers & offline data • Just using simple naming conventions “Very Important” to 84% of retail advertisers Source: eMarketer Research: Retail Systems Research (RSR), Omni-Channel 2013: The Long Road to Adoption, June 11, 2013
  9. 9. ADDING DATA When It Counts Most
  10. 10. Adding Data Marketing is most effective when data is at the heart of the ideation, creation and execution. • How many times have you asked… what if? • Analytics create great marketing opportunities • Tracking the path to purchase will open up new doors • Your marketing platform makes that data …now make it actionable!
  11. 11. Biggest Challenges For Marketers with Big Data • Not sharing it • Not using it • Can’t connect it • Can’t use it • Don’t have enough Source: David Rogers, Don Sexton: Marketing ROI in the age of big data (2012) What’s the Problem?
  12. 12. Seeing Beyond Data What makes data useful in marketing? • Biggest Known Opportunities • Relevant Segments • Identified Instances and Entry Points • Categorizing Content • Turn Assumptions into Accuracy Turn a test into a winning strategy…
  13. 13. Effective Use of Data Creating a model can do all that and more… • Measure engagement over time • Automate lead nurturing • Scores can help develop segments based on – Pre-Existing Personas or Demographic Data – Web, Email & Other Digital Behavior – Recent & Frequent Activities
  14. 14. Scoring Methodology Data collection and web tracking allows a robust scoring model that measures engagement and segments. Web, Mobile & Owned Sites Marketing Database Emails Profile, Survey & CRM Systems Customer behavior, data & activity tracked Scoring platform provides tracking and options1 2 Engagements scored & tabulated3 Shopper Evangelist Visitor Unengaged
  15. 15. Scoring for Retailers Demographic & Profile Data • Opted In +5 | -50 for Opted Out • Valued Customer Segments +10 • Priority Zip Codes | Store Proximity +5 • Participated in an Event +25 • In Rewards Program +10 Behavior Scoring • FirstTime -Visit,Open, Click +5 • Clicks in email more that 2 times last 30 days +10 • Visits Product Pages multiple times in last 10 days +25 • Recently visited promotional page and outlet +20 (Potential for separate motivated customer score) 15
  16. 16. INTEGRATING INSIGHTS Into the Buyer’s Journey
  17. 17. Integrating Insights You may be familiar with lifecycle marketing as well as the buyer’s journey - how do insights make them better? • Add to the big milestones • Create more opportunities • Develop deeper relationships • Expect better response DISCOVERY CONSIDERATION DECISION Acquisition Retention Reengagement Onboarding Engagement Upsell
  18. 18. AddingValue Adding Revenue toValued Activities • When targeting an existing valued segment • When considering new strategies • When developing ideas that can be automated Abandoned Carts can be recovered - expect 3-10% Improve Retention by warming new customers Triggered Replenishments can double Open / Click rates
  19. 19. Add Automation …to generate programs • Welcomes / Onboarding • Browse Abandonment • Cart Abandonment • Recommendations • Date Reminder / Replenish • ThankYou / Birthday • Cross Sell / Up Sell • Anniversary Reminder • Re-Engagement /Winback 1. Join / Sign Up 2. Browse / Visit 3. Abandon / Discard 4. Purchase / Buy 5. Go Inactive / Disconnect By understanding the intersections…
  20. 20. … and there’s always Ad-Hoc A well balanced communication strategy contains a balance of the scheduled, triggered and unanticipated… SCHEDULED My deals are here! AD-HOC I just got my receipt, I didn’t know they also had frames… TRIGGERED It has been a while, let me check that inventory… • Create expectation by working from a regular calendar or Marketing Schedule • Drive relevancy through triggered communications based on activity • Delight by customizing and delivering important messages with ease After key steps, Ad-hoc is easy and now more effective!
  21. 21. BRINGING IT ALLTOGETHER
  22. 22. Understand where each customer is in the customer lifecycle.
  23. 23. Personalized Lifecycle Marketing
  24. 24. YourTechnologyToday
  25. 25. Dozens of different customer behaviors
  26. 26. Base technology stack Website Email / Marketing Automation Ecommerce / Point of Sale
  27. 27. Website Email / Marketing Automation Ecommerce / Point of Sale Engagement Engagement RFM Data Silos
  28. 28. Integrate engagement and purchase data to create a personalized experience.
  29. 29. Getting started with personalization
  30. 30. TRADITIONAL DATAWAREHOUSE
  31. 31. Segmentation.
  32. 32. Example Scenario
  33. 33. Direct to Consumer Manager
  34. 34. Yeah … I’m going to need to you to sell these leftover widgets
  35. 35. IT: I need a list of people that haven’t purchased in 30 days + spent at least $100 + viewed the widget website page within 6 months
  36. 36. Analyst
  37. 37. Segmentation File
  38. 38. MODERN APPROACH: MARKETING AUTOMATION
  39. 39. Marketing automation constantly informs and personalized every channel.
  40. 40. Marketing Database Automation Engine Single Identity Multi- Channel Marketing automation components
  41. 41. Loyal Customers Biggest Spenders Lapsed Customers Replenishment Opportunities Upsells Marketing automation scores and segments
  42. 42. Last Website Visit: 90 days ago Last Email Open: 68 days ago Last Purchase: 98 days ago LTV: $185 Last Item Purchased: Ink Cartridges
  43. 43. Last Website Visit: 90 days ago Last Email Open: 68 days ago Last Purchase: 98 days ago LTV: $185 Last Item Purchased: Ink Cartridges RFM Segments: Lapsed Customer, Replenishment Engagement Level: Dormant
  44. 44. 1 1 2 2 Website & Ecommerce Website Personalization 3 3 Ecommerce Personalization
  45. 45. REVENUE REPORTING
  46. 46. A typical purchasing process Google Search Received Email Retargeting Looked at review Back to website Comparison search Email with coupon Purchase Back to website Visited Website
  47. 47. Marketing automation remembers the entire customer journey.
  48. 48. FirstTouch Attribution Google Search Received Email Retargeting Looked at review Back to website Comparison search Email with coupon Purchase Back to website Visited Website 100% credit for revenue
  49. 49. LastTouch Attribution Google Search Received Email Retargeting Looked at review Back to website Comparison search Email with coupon Purchase Back to website Visited Website 100% credit for revenue
  50. 50. Influence-Based Attribution Google Search Received Email Retargeting Looked at review Back to website Comparison search Email with coupon Purchase Back to website Visited Website
  51. 51. Measure Campaign-Driven Revenue
  52. 52. Measure the Impact on Engagement
  53. 53. Yeah … I’m going to need to you to sell these leftover widgets
  54. 54. Interested In Learning More? silverpop.com silverpop.com/marketing-resources www.slideshare.net/silverpop Twitter.com/silverpop Facebook.com/silverpop

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