Conquering the Omni-Channel Challenge
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This document summarizes a presentation on conquering the omni-channel challenge. It discusses how omni-channel is defined through the consumer experience across multiple touchpoints. It highlights key omni-channel trends like consumers completing purchases on different devices than where they started their research. The presentation provides best practices for brands to leverage data, embrace transparency, create partnerships, drive internal alignment, and make educated bets to succeed in an omni-channel world.
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Conquering the Omni-Channel Challenge
- 1. v Conquering the Omni-Channel Challenge Jenn Vlahavas, VP Account Strategy ©2014 MediaMath Inc. 1 iMedia Commerce – June 2014
- 2. Is Omni-Channel defined as the… Sales Channel? @JennVlahavas @MediaMath #iMediaSummit
- 3. Is research prior to a purchase… considered omni-channel? @JennVlahavas @MediaMath #iMediaSummit
- 4. Does Omni-channel include the environment …where a consumer is exposed to your message? @JennVlahavas @MediaMath #iMediaSummit
- 5. @JennVlahavas @MediaMath #iMediaSummit What about Channel Assets? And how they engage with your customers? Live Chat via your Web site?
- 6. @JennVlahavas @MediaMath #iMediaSummit In-store Employees?
- 7. Is… Organizational Structure a consideration when building your strategy? @JennVlahavas @MediaMath #iMediaSummit
- 8. expanded …historically defined omni-channel infrastructure to include the through the lens of the consumer and organizational components... definition haswho cares?
- 9. 67% completed the purchase elsewhere Source: comScore Consumers who started shopping on one device or in-store @JennVlahavas @MediaMath #iMediaSummit
- 10. Mobile coupon usage increased by 41% Versus last year, Source: comScore @JennVlahavas @MediaMath #iMediaSummit
- 11. Pre-Meditated Showrooming is on the Rise! Up 8% versus last quarter, Source: comScore @JennVlahavas @MediaMath #iMediaSummit
- 12. $1.8 trillion by 2017! Combined online & web-influenced sales to reach Forrester Research Up from $1.3 trillion in 2013 @JennVlahavas @MediaMath #iMediaSummit
- 13. READ: HUGE OPPORTUNITY @JennVlahavas @MediaMath #iMediaSummit
- 14. Programmatic can help you SEIZE it Let us help! @JennVlahavas @MediaMath #iMediaSummit
- 15. economic sense to send a - Lawrence Light Former CMO, McDonald’s It no longer makes of persuading the few. message to the many in hopes @JennVlahavas @MediaMath #iMediaSummit
- 16. programmatic is manual, - Marissa Mayer CEO Yahoo! The opposite of not premium. @JennVlahavas @MediaMath #iMediaSummit
- 17. buy media in a way - Bonin Bough VP, Global Media & Consumer Engagement, Mondelez International Why would I not that I can get data back and use it to make smart decisions? @JennVlahavas @MediaMath #iMediaSummit
- 18. Six Best Practices [ ] Leverage Data [ ] Embrace Transparency [ ] Create “Yes And” Partnerships [ ] OWN It [ ] Internal Alignment [ ] Make Educated Bets @JennVlahavas @MediaMath #iMediaSummit
- 19. [1] Leverage Data High Value, Under-Utilized @JennVlahavas @MediaMath #iMediaSummit UNDERSTAND TARGET MEASURE Align offline and online Purchase and media data Leverage 3rd party data Create single view Find new customers Drive repeat purchases Increase order values Influence hand-raisers Online sales impact In-store sales impact Close the loop Test and learn
- 20. [2] Embrace Transparency Peel back the onion (there may be tears!) @JennVlahavas @MediaMath #iMediaSummit
- 21. [] Your Working Media Dollars Transparency into: [] What’s Working* Transparency into: [] What Isn’t Working* Transparency into: @JennVlahavas @MediaMath #iMediaSummit
- 22. @JennVlahavas @MediaMath #iMediaSummit [3] Create “Yes and...” Partnerships & Agency Brand Ad tech …but you need an operational framework to drive success Tech Enables…
- 24. Break Down the Silos! [5] Internal Reorientation & Alignment… @JennVlahavas @MediaMath #iMediaSummit
- 25. @JennVlahavas @MediaMath #iMediaSummit Technology Foundation for Sharing & Centralization Education* Align Goals & Roles Goals* Aligned, but Weighted Break Down the Silos! [5] Internal Reorientation & Alignment…
- 27. @JennVlahavas @MediaMath #iMediaSummit D A T A M A N A G E M E N T D E C I S I O N I N G & O P T I M I Z A T I O N A N A L Y T I C S & I N S I G H T S C R E A T I V E M A N A G E M E N T C R O S S - C H A N N E L M E D I A D I S P L A Y M O B I L E V I D E O S O C I A L O N B O A R D S E G M E N T A C T I V A T E S H A R E H O L I S T I C T R A N S P A R E N T P E R F O R M A N C E A D A P T A D S E R V I N G D C O V I E W A B I L I T Y B R A N D S A F E T Y C O N N E C T : M E D I A A U D I E N C E S C R E A T I V E S
- 28. [last one!] Make an Educated Bet! It’s not just an adoption, it’s an evolution: @JennVlahavas @MediaMath #iMediaSummit
- 29. Build Competitive Advantage @JennVlahavas @MediaMath #iMediaSummit …Grow Market Share
- 30. case study in your industry, - Seth Godin, Author: ‘Permission Marketing’ If you wait until there is another you will be too late.
- 31. THANK YOU Jenn Vlahavas @MediaMath ©2014 MediaMath Inc
Editor's Notes
- Who thinks omni-channel means where you buy, the channel where money is exchanged? (physical retail location, PC, phone, tablet)
- Who defines omni-channel as the channel where research is conducted on an upcoming person or where a consumer refines their consideration set?
- What about media exposure? Who defines omni-channel as the channel where a consumer is exposed to (and hopefully moved by) your creative message?
- How about how a consumer engages with your channel assets? Web site (maybe with a live chat option)? Are they encouraged to direct consumers in store if Mobile site? Employees within your retail location? Store design? Do we consider this part of a omni-channel strategy? (employee in physical retail location, PC with live chat, mobile web site, tablet web site)
- How about how a consumer engages with your channel assets? Web site (maybe with a live chat option)? Mobile site? Employees within your retail location? Store design? Do we consider this part of a omni-channel strategy? Images to reiterate above (employee in physical retail location, PC with live chat, mobile web site, tablet web site)
- What about organizational structure? When defining a omni-channel strategy, do we think of the skills, culture, incentive model to support that strategy?
- Let’s talk a bit about WHY we should care about creating a strong omni-channel strategy! The omni-channel opportunity is tremendous and the proof is in the numbers.
- 12.5%
- Combined online and web-influenced retails sales expected to reach $1.8 trillion by 2017, up from $1.3 trillion in 2013.
- Combined online and web-influenced retails sales expected to reach $1.8 trillion by 2017, up from $1.3 trillion in 2013.
- Don’t take my word for it, let’s hear from marketing and business leaders.
- Programmatic isn’t just about efficiency, it’s about creating a competitive advantage and growing market share.
- And at Cannes last week, from the head of global media & consumer engagement at Mondelez,
- Let’s focus on how programmatic and the players within this ecosystem can best support your pursuit of omni-channel domination I’ll speak to 6 best practices that we’ve seen across our client base that underscore their drive to create a truly omni-channel experience for their customers. Talk through each bullet
- Let’s start by talking about data. I’m not going to say that over-used term that starts with a “B” and ends with “ig Data” for fear of someone throwing a shoe at me. But nonetheless, data is key to a strong omni-channel approach as it is the most valuable asset you have and often under-utilized. I’ve simplified this a bit to say that we can leverage data in order to: Truly understand the customer, their behaviors across channels and by channel. Target customers and prospects in a individualized, but scalable way. Measure the impact of online efforts on in-store purchase behaviors. UNDERSTAND Align your offline and online data sets for a more comprehensive view of the customer across and by channel. Use available data on purchase behaviors but also data about media performance by audience type. Leverage Third-party data companies to fill in gaps in data that you may not have i.e. purchase behaviors in other categories or competitors, current intent to purchase a specific product, and general interests and passions. Create one view of the customer, but remember that they engage with your brand in different ways and with different motivations by device. TARGET Target means to activate the insights and data you’ve gleamed in order to make smarter marketing decisions across all levels of the funnel. Fill the top of the funnel by identifying pockets of opportunity and driving new customers to engage with your brand. Onboard your 1st party offline data in order to your current customers more effectively – whether that means driving more frequency of purchase or increasing order values. One of our clients is a subscription-based retailer and they identified behavioral triggers that flagged members as likely to not renew the subscription. So on an on-going rolling basis, we onboarded an anonymous segment of folks who exhibited this behavior and created a retention campaign. And of course, at the bottom of the funnel, we want to target hand-raisers more effectively in order to push them over the finish line to buy. MEASURE You want to measure the impact of your omni-channel messaging efforts on sales – both online & in-store. In addition to enabling online targeting based on offline behaviors, the players in this ecosystem that onboard offline data also enable the measurement of incremental in-store sales impact of digital marketing efforts so you can close the loop. And the ultimate goal is really to test on an on-going basis to continue to make smarter decisions.
- When we say transparency, we mean 2 things – 1 – Transparency into what % of your budget is going toward media vs. data fees vs. tech fees vs. margins. Your partners are businesses, they need to make money in order to sustain that business – all we’re talking about here is a clear understanding of where your money is being spent. And 2 – Transparency into what’s working by channel, by device…but also by time of day, frequency, publisher, category of content…. 3 – But also a view into what ISN’T working so you can learn from each test, from each campaign. We had a client tell us recently that they used to work with a partner who drove really high performance for them. But when campaigns wouldn’t start off really strong and their partner optimized the client campaign to improve performance, the client wasn’t given transparency into HOW they optimized, what they found was working or wasn’t – so while the end result “hey, you had a CPA of $10, we brought you a CPA of $8” wasn’t as valuable as it might seem because the client didn’t have anything to bring back to his team to make the next campaign stronger – or the creative stronger.
- The 3rd best practice is about creating “yes and” partnerships – so it’s not about either this or that, it’s about bringing together the right players to create a strong formula for success. Tech enables (the onboarding of offline data for targeting, cross-media execution, tranparency into what’s working and what isn’t), but you need an operational framework to drive success. We’ve seen time & time again when the brand, agency and tech partner come together to leverage the power of a platform, tremendous success follows. And if you think about the value that each player brings to the party, you can also see that removing any one player doesn’t make sense.
- That said, we have also see great success when brands OWN IT and by that I mean bringing the technology in-house to build a programmatic practices. Even if a brand never plans to bring the execution of a programmatic strategy in-house, owning it gives a retailer a level of transparency and control that is not achievable without a view into the technology. And the value includes: Go through each bullet For example, one of our CPG clients has multiple product lines that targets folks who are gluten-intolerant or just choose gluten-free, all of which operate in a very disparate way. The cereal group wanted to find new ways to target this audience and considered creating a micro-site with gluten-free recipes and other content and/or a coupon promotion – all in the effort of building a segment of gluten-free eaters for targeting online. What they didn’t know was that their counterparts in the cracker group had done this already and had a pretty healthy targeting segment already available for targeting in our platform. So the technology served to facilitate the sharing of gluten free data. It also helped to break down a silo within the organization.
- Which brings us to the 5th best practice – aligning and reorienting your organization to better support an omni-channel experience by breaking down internal silos. We talk so much about omni-channel through the lens of the consumer and their engagement with a brand across device and channels, it’s easy to forget that the best laid omni-channel plans can be significantly hindered by an organization that doesn’t support that plan. Today’s reality is that too much is done and bought in silos.
- We find that organizations are buying capabilities and harvesting them but not creating real operating leverage from them. Harvesting technology in silos doesn’t make sense from a pure economics standpoint, but it also hinders the ability to operate in an omni-channel fashion. Technology should serve as a foundation to unify data sets and fragmented media…like in the gluten-free example I just mentioned. But all may be for naught if there aren’t also these 2 essential components: 1 – A unified set of goals around which the organization is aligned, but weighted based on responsibility. For example: If you have a display team, a social team, someone who owns video, someone else who owns search – and they all have different KPIs they’re held accountable to (campaign performance and THEIR performance/comp), why would they be incented to think about a single view of the customer OR create efficiencies with their colleagues with regard to workflow or cost OR share data so others can learn more quickly? 2 – A system for educating each group on how their role impacts the goal. I’ll give a simple example of changes one of our clients made… Knowing that there is an inherent space limitation in their physical retail locations, specifically for certain business units, they did two things: They ensured that their store employees were educated on inventory, assortment & fulfillment options by channel and rewarded for enabling customers to explore (and hopefully purchase!) items online that are not available in-store. For example, a store might carry 5-10 baby cribs but can carry hundreds of SKUs online – so by enabling and incenting their staff to speak articulately about their assortment online and flexibility with regard to shipping, they were not only creating a better omni-channel experience for their customers, but also enabling more sales to stay with that retailer rather than at a competitor. This client also created an environment where the store designers, web site designers and mobile site designers met periodically to exchange ideas & create some sort of alignment. While their assets and limitations were vastly different, they found a handful of easy action items from these meetings including adding shelf-talkers to stores with a smaller footprint that couldn’t carry a large number of SKUs in certain categories. Once the education and goal system was in place, it was much easier to start breaking down the silos as everyone was rowing together in pursuit of the same destination
- I mentioned in my intro why I was drawn to this space and to MediaMath and the best way to summarize it is that MediaMath’s platform gives brands and agencies the tools to enable them to knock down the silos within an organization
- And it does that by accessing programmatic and premium media supply across display, video, mobile, and social. So not just across channels, but also across all levels of the “funnel”. It allows for the flexible and seamless on-boarding, segmentation, and activation of online and offline data assets. As well as the sharing of this data across the organizaiton. Advanced decisioning algorithms to optimally connect media, audiences, and creatives to drive campaign performance & achieve business goals. Transparent reporting and holistic analytics to provide insights into the drivers of performance so you can build a history of what works and what doesn’t. And Creative delivery solutions, from ad serving to dynamic creative to viewability measurement to brand safety controls. To make sure that everything we’re doing is aligned with your brand promise. With that in mind, I’ll close with the last best practice, which is…
- Make an educated bet on programmatic. Because it’s not just an adoption, it’s an evolution – and an evolution that serves to optimize performance AND workflow. My point here is that we understand that this is an overwhelmeing and challenging time for marketers both from changes in consumer behavior but also changes in how media is bought and sold and the evolving roles of technology & agency partners. But doing nothing is not an option.
- Events like these are great environments for learning. Ask your peers or your current partners for their POV, talk with some of the folks at MediaMath. Because as I mentioned earlier, programmatic isn’t just about creating efficiencies, it’s about building a competitive advantage and growing market share. And because I don’t mind sharing the stage – and like validation, I’ll leave you with a quote from Seth Godin…