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Driving Customer Engagement Through Multichannel Marketing

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4 strategic opportunities for driving break through marketing performance

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Driving Customer Engagement Through Multichannel Marketing

  1. 1. Driving Customer Engagement through Multichannel Marketing Feb 2010
  2. 2. Agenda • Today’s consumer & marketing environment • Implications & issues • 4 strategic opportunities • Payoff & roadmap 2
  3. 3. The consumer is boss • Unparalleled choice & information • Multichannel, with or without you • New attitudes: frugality, sustainability, activism 7% savings rate reduces US consumer 1.7 billion Internet users worldwide spending by $1 trillion 182,000 new consumer products /yr 4 billion handsets worldwide (1B browsing) 170 million shop online in US 130 TV channels in avg US household $622 billion global ecommerce OOH innovation (car, plane, gas station) 3
  4. 4. Marketing undergoing enormous change • Drive for accountability in a budget constrained world • Technology is a game changer – Innovation in targeting, versioning & analysis – Media unlocked & abundant – CRM becomes CMR (ex: Pepsi) • Direct share growing. Boundaries blurring. (ex: P&G) Digital/Direct Share of US advertising 2010 59% 2009 58% 2003 48% 4
  5. 5. But, substantial barriers gate progress… • Spend mismatched to consumption driven by legacy media planning practices • Spend mismatched to customer value driven by outdated success metrics • Complexity in execution, compliance & attribution • Who owns the customer? 5
  6. 6. …yielding suboptimal results • Traditional advertising is less effective • Legacy media suffers • Marketing platforms being overrun $112 billion wasted advertising in the US every year 85% of brands stagnant or declining -21% NPS Advertising = FALSE -18% decline in US above the line advertising in 2009 6
  7. 7. Change May Be Necessary 7
  8. 8. 4 strategic opportunities • Remix media to consumer consumption • Invest to enable recurring revenue and customer engagement • Discipline in improving media effectiveness • Recognize customer information as a key asset (really) 8
  9. 9. Strategic Opportunities 1. Remix media to consumer consumption Metrics High Payback Applications 2X purchase lift v. search. Audience-based targeting & versioning Display Equal to TV purchase lift Intent-based (re)targeting. Just 5% brand advertising is online $44 revenue per $1 invested. 16X profits, targeted v blast Cultivate customer interactions. Newsletters/alerts Email 42% buy offline in response to email (11% buy 4+) Integrate mobile, social, e-commerce 247B emails/day worldwide Target by clicks, purchases, profits, social influence. 42% look up product information in the store. 28% purchase Geo-marketing. Location finder. Coupons. Alerts. Mobile online if not available in the store. Integrate email/display 4.5B text/day/US. 2.3B app downloads/yr Cultivate social influencers in new product launch Social 2-4x link performance v all others Cross-sell by friends products owned Creative versioning - see their story Interactive 15MM households with iTV – 25MM by end 2010 Order product with remote TV 7% CTR – minutes of engagement. Request samples/coupons. 9
  10. 10. Strategic Opportunities 2. Invest to enable recurring revenue & customer engagement Real-time recognition – registration, cookies, IP, linking Recognition & personalization Dynamic personalization – versioning. offers. testing create differentiation opportunities CMR Preference centers. Infocards 4-15X returns possible Many products are digital – content, handsets, eReader Digital product opportunities Leverage messaging opportunities. Education. Service. Offers. Create subscription businesses. Content anywhere Liberate/distribute content. Let Distributed commerce. Do business wherever your customers are customers distribute for you. Apps/widgets. Brand engagement. Consumer insights 10
  11. 11. Strategic Opportunities 3. Discipline in improving media effectiveness Harvest overlapping & interrelated TV was the tribal camp fire – now just another light source effects Attribution Framework unlocks media effectiveness 80% online advertising fails to reach intended audience Reach with certainty Reach just your audience – 200M online, 86M email, 40M mobile 3-5x revenue/ad dollar. Right audience (and just them) Right message (content versioning) Relevance Right time (trigger-driven). Engage in Surround Sound. Cross media institutional memory Leverage cross-channel insights – customer behavior & value Combine direct skills with digital Leverage direct methodology – targeting, testing, measurement, etc Leverage cooperative ventures – list/data exchange. 11
  12. 12. Strategic Opportunities 4. Recognize customer information as an asset (really) Coordinated multichannel Just 32% of marketing decision makers understand their customers multichannel behavior…yet multichannel buyers are marketing information 4-5x more profitable Value varies by purchase volume, frequency, loyalty, NPS, service costs Invest according to DVOC (differentiated Measure customer value. Consistent segments & metrics value of customers) Invest based upon predicted impact on CLTV New behavior - social conversations, online footprints, set top box data New preferences – explicit/inferred – product, media, channel Store/utilize new forms of data Integrate cross-media, cross-channel insights Harvest – measure & recalibrate Mythical average customer. Interaction history, brand advocacy, interests & attitudes, life stage, ethnographic variances Dig deeper (don’t settle) Changing market research role. Seeing v asking. Census v panel Harvest – measure & recalibrate 12
  13. 13. Sound obvious? “… too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us.“ Western Union memo on potential for the telephone, 1876. 13
  14. 14. Sound obvious? "We don't like their sound, and guitar music is on the way out.“ Decca Recording Co. rejecting the Beatles, 1962. 14
  15. 15. Sound obvious? “Needs a stronger supporting cast.“ “Almost totally free from humor” Audience testing for Seinfeld, 1989. 15
  16. 16. Payoff & roadmap Key payoff principles…and Acxiom multichannel investment focus Enable cost-effective 1. Correlate specific customer behavior to specific integration & scale via marketing investment MarketEdge & Abilitec Digital 2. Recruit, recognize & harvest explicit & inferred Integrate & optimize first party relationships via relationships across channels Impact Integrate customer insight 3. When consumers are not directly engaged with your into digital targeting & brand, ad media relevance is key to reengagement creative via Relevance Design & execute high 4. Invest & engage proportional to customer value. performing marketing programs Enable real-time decisions 5. Optimize customer value at every interaction that improve CLTV 16
  17. 17. Payoff & roadmap A closer look at the differentiated value of customers 30% of customers deliver the majority of profits 50% Add nothing 20% Cost companies money SAS 17
  18. 18. Payoff & roadmap A look at site traffic at world class brands Cadillac American Express UV Index UV Index PersonicX Consumer Segments PersonicX Consumer Segments Hershey Allstate UV Index UV Index PersonicX Consumer Segments 18 PersonicX Consumer Segments
  19. 19. Payoff & roadmap …and consumer shopping behavior 300 300 250 Shopped at 250 Ordered from 200 Banana Republic BestBuy.com UV Index UV Index 200 150 150 100 100 50 50 0 0 PersonicX Consumer Segments PersonicX Consumer Segments 350 350 300 Ordered Flowers 300 Shopped at online Ann Taylor UV Index 250 250 UV Index 200 200 150 150 100 100 50 50 0 0 PersonicX Consumer Segments PersonicX Consumer Segments 19
  20. 20. Payoff & roadmap Profile of traffic is much different at major online sites MSN Yahoo 96 MM UV’s 148 MM UV’s UV Index UV Index PersonicX Consumer Segments PersonicX Consumer Segments eBay AOL 56 MM UV’s 70 MM UV’s UV Index UV Index PersonicX Consumer Segments PersonicX Consumer Segments Acxiom, comScore 20
  21. 21. Payoff & roadmap 300 …and at broadcast networks 300 250 FOX 250 ABC 200 200 UV Index UV Index 150 150 100 100 50 50 0 0 PersonicX Consumer Segments PersonicX Consumer Segments 300 300 CBS UV Index 250 NBC UV Index 250 200 200 150 150 100 100 50 50 0 0 PersonicX Consumer Segments 21 PersonicX Consumer Segments
  22. 22. Payoff & roadmap Traditional media buy = FAIL on a massive scale 80% of online advertising fails  to reach its intended audience 22
  23. 23. Payoff & roadmap Concentrate on just your audience. Sample ROI Model DVOC-led Traditional Variance Campaign Cost Impression Volume 37,500,000 100,000,000 Cost per Thousand $ 8.00 $ 3.00 Total Campaign Cost $ 300,000 $ 300,000 $ - Revenue Generated Revenue/conversion $ 500 $ 250 Purchase rate 0.020% 0.010% Total Purchases 7,500 10,000 Total Revenue $ 3,750,000 $ 2,500,000 $ 1,250,000 50% higher Total Revenue/Ad Dollar $ 12.50 $ 8.33 $ 4.17 50% higher CLTV $ 4,000 $ 1,250 Total CLTV Impact $ 30,000,000 $ 12,500,000 $ 17,500,000 140% higher Premise Concentrating impressions on high value visitors… >Enables higher conversions (message is more tuned) >Enables higher revenue & CLTV/ad dollar (visitors buy more) 23
  24. 24. 24
  25. 25. Payoff & roadmap Huge payoffs are achievable 4x “orders per thousand” $200M revenue / $4.5M – Connecting print & digital OpEx savings 3x applications; 5x online – Connecting call center & digital revenue; same head count $100M/yr EBIT impact – Connecting call center & digital – Multichannel connection 2x online bookings 9-figure/yr revenue impact – Connecting outbound & website – Multichannel connection 7.5x website spend – Connecting mobile & email 17x response – Connecting TV & offline 25
  26. 26. What could have been owned Portable Music but couldn’t become It’s not enough… A great customer base owned A great product On-Demand Info A great strategy but couldn’t A great team become owned Darwin always wins. Movie Inventory Will you? but couldn’t become 26
  27. 27. Thank you. The global interactive marketing services company www.facebook.com www.linkedin.com www.twitter.com www.youtube.com www.delicious.com /acxiomcorp /companies/acxiom /acxiom 27 /user/AcxiomCorporation /Acxiom

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