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Acxiom Forrester Marketing Forum 040511
The document discusses the evolving marketing landscape, emphasizing the need for high-performance marketing capabilities in a consumer-driven world. It highlights the importance of leveraging customer insights, personalized engagement, and data-driven strategies to maximize marketing effectiveness. Additionally, it provides insights on the challenges and opportunities faced by organizations like WWE in transforming their marketing approaches to enhance customer interactions and achieve better ROI.
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Acxiom Forrester Marketing Forum 040511
- 1. UNLOCKING VALUE: MARKETING STRATEGYIN A CONNECTED WORLD TIM SUTHER CHIEF MARKETING OFFICER, ACXIOM JOHN BANCROFT VP, E-COMMERCE & RETAIL MARKETING, WWE FORRESTER MARKETING FORUM APRIL 2011 ®
- 2. THE END ISNEAR… For marketing as we knew it Consumers are boss One night stands ≠ committed relationships Yelling louder ≠ customer engagement Media mix reflects yesterday’s consumption Unsure (or negative) ROI 2
- 3. TOPICS 1. What capabilitiesdistinguish high performance marketing organizations? What is the upside opportunity? 2. How do high performing marketers prioritize in a world of overwhelming choice? 3. How do I determine where I stand in relation to high performing marketers? 4. Undertaking the opportunity…WWE style 5. Discussion / Q&A
- 4. GLOBAL MARKETING SERVICES& TECHNOLOGY FIRM Focused on audience and customer engagement INDUSTRY RECOGNITION #1 in client satisfaction – Data Monitor #3 Business Services & Consulting – Information Week 500 Innovators #2 CRM agency worldwide – AdAge Largest marketing service provider – Forrester Research QUICK FACTS 8,800 clients in 40 countries 300,000 campaigns/year 24 trillion consumer interactions/year $1.2 billion revenues. 70% under long-term contract NASDAQ – ACXM
- 5. WHAT CAPABILITIES DISTINGUISH HIGHPERFOMANCE MARKETING? 15-30% improvement opportunity for most companies 5
- 6. HOW DO IPRIORITIZE IN A WORLD OF UNLIMITED CHOICE? Maximize value from existing customers g Engage with customers “there” Engage with customers “there” Improve “intent harvest” from prospective buyers Generate demand more insightfully Substitute media & channel based upon actual customer preference & behavior 6
- 7. WHERE DO ISTAND IN RELATION TO HIGH PERFORMANCE MARKETERS? Reach & engage your audience Multidimensional insight Audience based targeting driven by your database g g yy Customer insight is integrated across direct g g observation, online behavior and attitudes Primary research connected to an actionable census Investment is allocated according to the differentiated value of customers Private exchange with key partners Descriptive & predictive capacity around 9 key Intent is effectively harvested customer insights Brand advertising is actionable Personalized & coordinated engagement Marketing central nervous system Product & customer life cycle triggers drive Enterprise customer identifier in place supporting 9 marketing key customer insights key customer insights Trigger‐driven marketing is PIL – personalized, Marketing is measured by CLTV impact integrated & longitudinal Individual impressions are attributable to outcomes Loyalty programs are differentiated & driven by life cycle triggers Batch & real‐time decision engines in place B t h& l ti d ii i i l Multichannel preference center in place Actual consumer behavior & preferences drive media & channel optimization 7
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- 9. WORLD WRESTLING ENTERTAINMENT Acxiom Executive Summit February, 2011
- 10. WWE COMPANY OVERVIEW Publiclytraded company since 1999 y p y Annual revenue is $475 million (2009) International accounts for nearly 28% of total revenue (3Q10) Executive Management Team Background – The New York Times, National Football League, National Basketball Association, U.S. Tennis Association, Disney, Fox News, American Express Four Core Business Areas – Live Events and Televised Entertainment – Consumer Products – Digital Media – WWE Studios 10
- 11. MULTI-PLATFORM GLOBAL ENTERTAINMENTCOMPANY Television Programming 145 Countries/ 30 Languages 140 Superstars and Divas 14 million viewers/week (U.S.) Under Contract 7 hours of original programming/week Pay-Per-View WWE Events 13 events annually 6 shows per week Approximately 5+ million b A i t l illi buys 300+events annually Music Consumer Products Original releases 200+ Licensing Partners iTunes, Amazon.com iTunes Amazon com Global partnership with Mattel 23 books on NY Times Best Seller List Home Video WWE.com 30 DVD releases annually 12.7 million unique visitors/month 100+ titles in catalog 376.9 million page views/month 210k orders/year WWE Studios WWE Magazine Slate of 9 films 5.3+ million readers WWE Mobile WWE Kids (Magazine; Web Site) 1.4 billion global subscribers 650,000 audience 11
- 12. Business Opportunity Transform WWEShop.comfrom a traditional “2000s” site into a business that: WWEShop com 2000s Leverages Marketing Sciences (the arts and the sciences) Develops new consumer insights Maximizes its financial potential Goals Drive orders and sales of WWE merchandise Identify and target PersonicX clusters Provide creative testing opportunities to identify best ways to message display ads 5:1 Return on Ad Spend Tests Identify behavioral segments more likely to visit, engage, and convert via in- market reporting Identify top performing ad unit based on CTR via dynamic creative Complete a Lift Test to determine the increase of orders from retargeting 12
- 13. How we seizedthe opportunity Serve dynamic creative ads… Unique offers Unique creative q Unique sizes Unique colors 13
- 14. How we seizedthe opportunity …to users who visit key strategic areas in our purchase funnel… (specific Talent pages cart homepage pages, cart, homepage, etc.) 14
- 15. How we seizedthe opportunity …and learn what works… 18,641 total orders and $957,181 generated in revenue (~$500k incremental) 13+ return on ad spend 3x+ increase in retargeting average CTR with dynamic creative $51+ average order 15
- 16. Challenges Selling the ideainto the organization 1. “What exactly do you want to do?....Wait a minute…so you want to track me all over the internet?” 2. We’ve been in the business for a long time & we know our customers well, so why this project? 3. How do you know it will work? If so, see #4 4. We haven’t done it before, so why now? Conceptualizing the idea for our specific business and needs 1. What to test? 2. How to execute? 3. How to run & optimize campaign? 4. How to determine if this is ultimately good for WWE and good relative to the marketplace? h k l ?
- 17. Battle Tested Takeaways Donyour professor’s cap and gently educate (in simple terms) while making the business case “We want to serve ads to specific visitors and we think we can make 13x” Vs. “We are going to leverage dynamic display advertising and segment indexing i i d i in a behavioral targeting media buy that has a lift test…” b h i lt ti di b th t h t t ” (What’s dynamic display? What segments? What is behavioral targeting?) Collaborate & communicate Development of tests and launch Share in the insights journey (learnings, mis steps, new “ah-ha”) (learnings mis-steps ah ha )
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- 20. THANK YOU acxiom.com/FaceBook acxiom.com/LinkedIn acxiom.com/Twitter Discover more at acxiom.com
- 21. MULTIDIMENSIONAL INSIGHT 9 key categories of customer insight Relationship Profile Interaction History Brand Advocacy Customer segment history Service history Net Promoter Score Product ownership history Promotion history Degree of social influence Current & lifetime value Response history Brand metrics at customer level Share of wallet Across channels Marketing budget by customer Product Propensities Media Preferences Channel Preferences Propensities across the Media consumption Shopping pathway conversion funnel Explicit preferences Preferred buying channel Next best product to sell Implicit preferences Preferred research channel Likelihood to recommend Context preferences Preferred service channel Contact/cadence strategy Geodemographics Interests & Attitudes Monetary Indicators Age Optimism Income indicator Occupation Purchase intent by category Wealth indicator Gender Recreational interests Discretionary spending Location Social Causes Real property indicators Ethnicity Family / size of household Life stage / life events 21
- 22. CAPABILITY MODEL FOR ACONNECTED WORLD Customer life cycle marketing Focus on trigger driven messaging along the life cycle trigger-driven • 15x profit v. broadcast programs • Pull customers (v. push products) – 3x revenue/email (retailer) • Dynamic product offers - increased revenue 46% in stores & 17% online (tech • Everything as a service Integrate across media & channels • Integrate mobile/email – 7.5x website spend retailer • Integrate outbound/website– 2x bookings hotelier Solicit customer input/action • Preference center – HP Technology at Work • Solicit ratings/reviews – conversations are crucial • Design content to be viral – 2 4x link performance 2-4x Fundamentals matter • Customer information decays 2%/month • $144 million of commercial email won’t reach the inbox in 2014 $
- 23. CAPABILITY MODEL FOR ACONNECTED WORLD Time & location- based marketing Customer lifecycle marketing goes wireless • SMS for time sensitive messages:18x return (retailer) • Inventory availability drives “on premise” revenue: 5% conversion (casino) • Solicit customer input/action: experiences, ratings, reviews, check-ins, surveys • Near-field communications/mobile commerce Reach new buyers • Loyalty enrollment via SMS: 280,000 new members, (retailer) • M bil advertising driven b your d t b Mobile d ti i d i by database • Shopping apps, price comparison & QR codes play defense…and offense
- 24. CAPABILITY MODEL FOR ACONNECTED WORLD Harvest Intent Improve search visibility • SEO - 80% of click throughs are organic • Customize/monitor the landing experience Drive conversion through p g personalization • Dynamic personalization to “optimize the real estate”: 9x return (insurer) • Algorithm-based recommendations: $100 million revenue uplift (telco) Effectively re-market • R Retargeting via di l or email – 12 return (e-Commerce site) i i display il 12x • Confirm chat with e-mail
- 25. CAPABILITY MODEL FOR ACONNECTED WORLD Smarter Demand Generation Find your high value audience Filter out the rest audience. rest. • 80% of online advertising fails to reach its intended target. • Collaborative Targeting: 11x return (retailer) Make brand advertising actionable & accountable g • Interactive Television – coupons, samples, more information • An emerging opportunity in online display. Brand represents just 5% Leverage multidimensional insight g g • Combine purchase, response, value & risk scores: $7600 deposit/household increase for contacted households. Retail Bank • Combine seasonality, customer potential, price elasticity, halo effects, social influence: 3x room nights (Casino) • Connected primary research: 5 5x improvement (t l - ““cord/cable cutters”) 5.5x (telco d/ bl tt ”)
- 26. CAPABILITY MODEL FOR ACONNECTED WORLD Media/Channel substitution Arbitrage duplicative contacts based on preferences • $112 billion in US advertising wasted per year. What Sticks • Email & print:4x revenue/email (leading publisher) Substitute based on preferences • From mass to targeted:10% revenue increase (multi-format retailer) • From call center to self serve: $4.5 million expense savings/yr (technology firm) • From print to digital: 22% conversion in 45 days (airline) • F From paid search to organic search & di l id h i h display: 52% b 2% better CPA (G(Google) l ) • From paid to earned/curated