Turn Holiday Shoppers Into Life-Long Customers
•
3 likes•4,015 views
The holiday season is upon us and many people, including your customers, are shopping more than usual. As a savvy consumer marketer, how do you build a customer base that not only buys from you during the holidays, but is also loyal year-round? Join Mike Stocker, Director of Business Development at Marketo, as he discusses how to turn seasonal shoppers into true fans of your brand. Listen in to discover how to: - Personalize your communications - Track your customers' product interests and previous purchases - Send messages via channels that your customers prefer - Encourage your customers to join loyalty programs
Recommended
Recommended
More Related Content
Viewers also liked
Viewers also liked (20)
More from Marketo
More from Marketo (20)
Recently uploaded
Recently uploaded (20)
Turn Holiday Shoppers Into Life-Long Customers
- 1. How to turn Holiday Shoppers into life-long © 2014 Marketo, Inc. Marketo Proprietary and Confidential © 2014 Marketo, Inc. customers Mike Stocker Dir. Business Development Twitter: @michaelstocker
- 2. About Me: Mike Stocker • Managed Marketo’s Customer Page 2 © 2014 Marketo, Inc. @michaelstocker Success team and 50 largest customers. • Founded and sold 3 companies. Owzom mobile games, Kenzei email services and shopping cart abandonment (acquired 2009) • Major acquisition media buyer spending $5MM/mo. in Display ads. • Have worked w/major brands such as Amazon, Google, Nordstrom, Williams Sonoma, URBN, Crate and Barrel etc.
- 3. Page 3 © 2014 Marketo, Inc. @michaelstocker About Marketo:
- 4. It’s a New World- With New Rules: Page 4 © 2014 Marketo, Inc. @michaelstocker
- 5. Era of Engagement Marketing Page 5 © 2014 Marketo, Inc. @michaelstocker
- 6. Page 6 © 2014 Marketo, Inc. @michaelstocker
- 7. Holiday shopping is important, but… Page 7 © 2014 Marketo, Inc. @michaelstocker • According to the National Retail Federation and U.S. Census data- approximately 20% of annual sales come from the “holiday months”
- 8. High level topics • Six recommendations for marketers to take holiday shoppers and turn them into life-long customers: 1. Treat each customer as a relationship, not a transaction 2. Personalization! 3. Utilizing customer data (product interest and past purchase) 4. Communicate in the channels and methods your customer prefers 5. Have relevant and engaging content 6. Encourage joining in a loyalty program, and use that data! Page 8 © 2014 Marketo, Inc. @michaelstocker
- 9. Page 9 © 2014 Marketo, Inc. @michaelstocker Tip 1: Treat each customer as a relationship not a transaction!
- 10. Page 10 © 2014 Marketo, Inc. @michaelstocker
- 11. Page 11 © 2014 Marketo, Inc. Hi, are you ready to buy? Holiday Sale!!! Buy now! Hi, now are you ready to buy? Hi, how about now? 50% off! Super Holiday Special! Hi, you must be ready to buy? Hi again, are you ready to buy? What about now? Seriously, not ready yet? Hi, are you ready to buy? @michaelstocker
- 12. Page 12 © 2014 Marketo, Inc. @michaelstocker
- 13. A real life example: "Diamond Candles sells candles, which are often bought for seasonal reasons like Hanukkah, Christmas or other holidays, but we believe that people can enjoy candles year round so we look at marketing initiatives that encourage these seasonal holiday shoppers to become more regular lifelong customers." Justin Winter - CEO and Co-Founder of Diamond Candles, customer of Marketo LaunchPoint partner Retention Science Page 13 © 2014 Marketo, Inc. @michaelstocker
- 14. Page 14 © 2014 Marketo, Inc. @michaelstocker Tip 2: Use Personalization
- 15. Personalization is key Page 15 © 2014 Marketo, Inc. @michaelstocker MarketingProfs Mar 2013
- 16. Page 16 © 2014 Marketo, Inc. @michaelstocker
- 17. Page 17 © 2014 Marketo, Inc. @michaelstocker Dynamic Content Industry, Geography, Company Size, Customer vs. Prospect, etc.
- 18. We’ve gotten good at personalizing EMAILS …but what about other channels? Page 18 © 2014 Marketo, Inc. @michaelstocker
- 19. Marketo Real-Time Personalization Make web and mobile channels as personal as email • Auto-engage anonymous visitors with personalized content or calls-to-action to drive a 30% increase in conversion rates • Behavior, location, firmographics (industry, technology, etc.), DMP data • Personalize known visitors using rich marketing automation information • Coordinate outbound and inbound experiences Page 19 © 2014 Marketo, Inc. @michaelstocker • Predictive analytics • Machine learning, auto-tuning, collaborative filtering recommendations • Easy and integrated • Hands Free, any CMS and zero IT
- 20. Page 20 © 2014 Marketo, Inc. @michaelstocker A real life example: “James Allen strives to provide the best, high-end shopping experience to match our quality of goods, and strong reassurance during decision-making for our customers. Marketo Real-Time Personalization achieves this goal by targeting our online visitors with real-time, personalized messaging, while A/B testing and auto-tuning our campaigns for ensured results.” https://www.marketo.com/customers/j ames-allen/
- 21. Page 21 © 2014 Marketo, Inc. @michaelstocker Tip 3: Utilize customer data, behavioral data, past purchase data, product interest data
- 22. Page 22 © 2014 Marketo, Inc. @michaelstocker A Good example of using customer data: I purchased pants called “Jet Blues” on Bonobos.com and they sent me an email referencing that prior purchase and suggesting a matching shirt.
- 23. Page 23 © 2014 Marketo, Inc. @michaelstocker
- 24. Page 24 © 2014 Marketo, Inc. @michaelstocker Tip 4: Communicate in the channels and methods your customers prefer.
- 25. Market to your customers wherever they are Page 25 © 2014 Marketo, Inc. @michaelstocker
- 26. Consumers move seamlessly between devices Page 26 © 2014 Marketo, Inc. @michaelstocker
- 27. Page 27 © 2014 Marketo, Inc. @michaelstocker A real life example: "At SkinSpirit, we often get people giving the gift of a spa treatment to others, but then it's up to us to encourage the person receiving the gift to become our life-long customer. We do that by regularly communicating offers and promotions via email, print and social channels. We try to remember that they prefer body treatments or facials and communicate to those preferences.” Lynn Heublein, CEO of SkinSpirit Since opening in 2003, SkinSpirit has become one of the top destinations for aesthetic skin and body care, with multiple locations in California and Washington.
- 28. Page 28 © 2014 Marketo, Inc. @michaelstocker Tip 5: Have relevant and engaging content
- 29. The Key to Relevance is Behavioral Targeting Top Tactics to Increase Email Engagement Page 29 © 2014 Marketo, Inc. @michaelstocker
- 30. More Targeted Emails are More Relevant 400 350 300 250 200 150 100 50 Page 30 © 2014 Marketo, Inc. @michaelstocker 0 100 1000 10000 100000 Engagement Score Email Send Size Source: 100s of Marketo campaigns
- 31. Example: Topic of Interest Triggers Page 31 © 2014 Marketo, Inc. @michaelstocker • Attends event • Downloads content • Click email • Fills out form • Score is changed Email Social Content Technology
- 32. Standard Nurture Triggered Interests Lift Open % 21.7% Open % 34.0% 57% Click to Open % 23.4% Click to Open % 37.1% 59% Click % 5.1% Click % 12.6% 147% Page 32 © 2014 Marketo, Inc. @michaelstocker Page 32 © 2014 Marketo, Inc.
- 33. Page 33 © 2014 Marketo, Inc. @michaelstocker A real life example: It's not just holiday shoppers that can turn into life-long customers, it's any user for your product or service that starts off using during a high season, for example, Tara Nicholle Nelson, VP of Marketing at the leading Health and Fitness app MyFitnessPal states "We see many people that join around New Years in order to start their path towards a more healthy and fit lifestyle. But we don't want them to just stay for a week or two, we want to engage them continuously over time with great content, personalized messages and more to promote more healthy living." Tara Nicholle-Nelson, VP Marketing MyFitnessPal (Marketo Customer) MyFitnessPal’s health and fitness apps help people set and achieve personalized health goals by tracking their nutrition and physical activity. More than 65 million people have used MyFitnessPal to achieve and maintain a healthier and happier lifestyle.
- 34. Page 34 © 2014 Marketo, Inc. @michaelstocker Tip 6: Loyalty Programs
- 35. Why Loyalty programs? • Great data source • Know who your best customers are • Reward your customers for directed actions • Encourage repeat business • Provides ability for communicating more frequently Page 35 © 2014 Marketo, Inc. @michaelstocker
- 36. Two real life examples: Page 36 © 2014 Marketo, Inc. @michaelstocker
- 37. A recap: • Six recommendations for marketers to take holiday shoppers and turn them into life-long customers: 1. Treat each customer as a relationship, not a transaction 2. Personalization! 3. Utilizing customer data (product interest and past purchase) 4. Communicate in the channels and methods your customer prefers 5. Have relevant and engaging content 6. Encourage joining in a loyalty program, and use that data! Page 37 © 2014 Marketo, Inc. @michaelstocker
- 38. © 2014 Marketo, Inc. Marketo Proprietary and Confidential © 2014 Marketo, Inc. Thank You! Mike Stocker Director, Business Development Twitter: @michaelstocker
Editor's Notes
- I’ve been in digital marketing for 16 years. I started my career in media buying, spending $5MM a month on display ads for acquisition campaigns- capturing ~200,000 emails registrations per day. I worked at early real time bidding firm Rightmedia which was acquired by Yahoo. I’ve also founded and sold three digital marketing firms, with the biggest being a venture funded firm called Kenzei doing shopping cart/lead form abandonment for major B2C customers like Experian and AARP. Fast forward a few years and I joined Marketo and ran our Customer Success team, as well as personally managed our largest customers such as Google, Facebook, Amazon and Chevron. In January, I transitioned to a new role helping Marketo define and develop our B2C Consumer Marketing strategy and business development partnerships.
- A little about Marketo – we are all about the concept of “Marketing First” Helping marketers master the art and science of digital marketing We are the #1 independent marketing platform. Marketing software- built for marketers by marketers. We also have the largest marketing only partner solution ecosystem in our LaunchPoint ecosystem- of which many companies exhibiting here today are a part of. And we have 3500 customers in 20+ industries in 36 countries- some logos are shown.
- It’s a new world…with new marketing rules Everyone in this room can now exploit these rules Whether you market to ten thousand or 10 million…whether you are in ecommerce, consumer packaged goods, education, healthcare, or any other business, you can market to engage consumers just like Amazon.com has for years Everyone in this room can build personal relationships with their customers And drive higher conversions and ever greater revenue.
- As Individuals We call this new phase of Marketing the “Era of Engagement Marketing” Based on What they do Continuously over time Wherever they are Always directed towards a goal- it could be a sign up, a purchase, a lead submission, but always a goal With measurable results All at the speed of digital
- How do you turn someone who shops at your store, or buys a product or service from you during the holidays into someone who regularly shops with you or buys your product/service? We’ll explore that today.
- Holiday shopping is important, often accounting for 20% of total sales and even as high as 30% of total sales- but while it’s important- what is more important are the sales that you as a marketer can drive during non holiday months.
- Your customers shouldn’t be seen as people that only buy during 2 months of the year! Remember, holiday shopping only accounts for 20% of your yearly sales… don’t just aim to get “transactions” during the holiday period.
- A lot of retailers sound like this during the holidays. This is what it sounds like when done wrong. It beats an incessant drum for customers. And does not engage them or enthuse them to open in future,
- Our communications must be less transactional and more trusted, more relevant, and more strategic. It must be more engaging. A marketer should not think in terms of a season, but of a whole relationship. Notice how these women are engaged in conversation. There’s talking, but also listening going on. And the conversation, at least by the looks of it, seems to have a flow to it. [Refer back to this throughout the presentation: how important it is to effectively listen to online body language.]
- 44% of consumers say they value retailers that remember their past shopping or browsing behaviors Read more: http://www.marketingprofs.com/charts/2013/10235/personalized-marketing-drives-buyer-readiness-and-sales#ixzz3KsfTQAH3 41% of consumers say they buy more from retailers who send personalized emails Most people value good recommendations: 6 in 10 consumers say personalized product recommendations make it easier to find the products they are most interested in (59%) and provide a valuable service (53%). In addition, more than one-half of consumers say website recommendations (55%) and emails (54%) personalized based on their past browsing and shopping behavior are "desirable to receive."
- Not all segments need to be different email versions
- Jon talked about personalized emails, but what about other channels. People reply to a great email, but then go to a website that is not personalized.
- A real life example of a company- a jewelry retailer using real time site personalization to give a better user experience. A person may buy jewelry for the holidays, but how do you keep them coming back for jewelry for other occasions?
- This is more like what you want your communications to be….
- Let’s think back to the movie Minority Report, which was filmed in 2002 but set in 2054. In a famous scene, Tom Cruise’s character walks into a Gap store. He scans his retinas, and the ad begins speaking to him: “Welcome back to the Gap Mr. Yakamoto, how are those assorted tank tops working for you?”
- Today’s consumers move seamlessly across digital and offline channels. According to a recent Experian QAS® survey, 36 percent of U.S. organizations interact with customers and prospects in five or more channels. In retail banking, 61% of consumers use three or more channels each month (e.g. branch, phone, online, and mobile – in addition to email). However, Companies Not Prepared to Deliver Integrated Experiences QUOTE: “Fewer than 10 percent of brands are executing true cross-channel communications informed by one view of the customer.” - The 2013 Digital Marketer, Experian = Big opportunity to increase relevancy. Organization silos: Traditionally, marketing organizations are made up of either product or channel teams. Within this structure, each team works hard to optimize their siloed marketing efforts — and, in most places, have gotten really good at delivering their individual marketing programs and defending their individual marketing budgets Technology silos: Many of the tools are focused on a channel — email, mobile, catalog or Web. The big challenge for marketers is that message delivery within channels almost always happens via disparate platforms. Especially a problem with ESP. Email “grew up” with companies using stand-alone email service providers (ESPs) and outside agencies. This legacy hangs over email today. Traditional email service providers (ESP) = not multi-channel, not channel agnostic The modern, digitally-empowered consumer doesn’t think in terms of channels and doesn’t care about your silos. Uses whatever device they have in the moment… web, mobile, tablet So, companies shouldn’t expect the consumer to adapt; companies should adapt. This means moving from channel- or promotion-centric marketing plans to customer-centric marketing plans, and enabling those plans with marketing technology that is ready to deliver.
- The key to relevance is behavioral targeting. So you want relevancy and engagement – but this requires sophisticated targeting that combines online body language (web traffic, search behavior, email response) plus transactional data plus with lifestyle and demographic data (personas) When behavioral cues are not used, email can be experienced as a dissonant interruption. What the sender considers a coordinated "drip campaign" may feel more like water torture to the receiver.
- So how can we be more relevant and engaging? You can’t be relevant if you’re broad. We know batch and blast does not work – it is simply less engaging. One way is to be more targeted – smaller sends = more engaging. Engagement Score enables marketers to quickly judge how effectively each piece of content is engaging prospects and customers over time… combines open, click, unsubscribe, conversion, and so on into a single metrics.
- Here’s an example of how Marketo created even more relevance. Topic of interest nurturing: Nurture tracks based on four different topics that we thought our customers were interested in (email, social marketing, marketing automation, and Microsoft Dynamics). We listen for signs that may be interested in this (events attended, web visits, keywords used etc.), and if so assign them to the specific track nurture track. If they get to the end of that specific track, we put them back to regular until they do something else specific.
- Result: Big lift! More on our blog about this: http://blog.marketo.com/blog/2013/06/topic-of-interest-based-nurturing.html