1. The document provides 10 ways for organizations to monetize customer engagement and experience, including incentivizing members to complete profiles, aligning content strategies with recurring revenue opportunities, creating multi-platform engagement, gamifying activities, monetizing mobile apps, implementing cross-selling and up-selling, fostering product reviews, monetizing communities, rewarding engagement, and selling engaged customer lists.

1. Optimize Relationships
10 Ways to
Monetize
Engagement
May 26, 2015

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Kathy Herrmann
Principle Business Consultant, Personify
kherrmann@personifycorp.com
Paul Gannon
VP Marketing, Personify
pgannon@personifycorp.com

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Customer Engagement refers to the
actions (interactions) a customer has with
an organization.

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Customer Experience is the perception or
emotional experience customers have of all
their interactions with an organization.

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"Customers who had the best past
experiences spend 140% more compared to
those who had the poorest past experience."
- Peter Kriss, Customer Experience Research Scientist at Medallia and the
Director of Research for Vision Prize, HBR article

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Monetize engagement, with positive experience,
to capture increased revenues.

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1. Incentivize
members to
complete online
profiles.

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83% of customers feel positive about an org
that puts to good use the information and data
they hold on their customers.
- Esteban Kolsky, ThinkJar.
Customers are
responsive to
orgs that
generate value
for them.

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Customers
want well-
targeted
products and
services.
20% will complete feedback questionnaires &
20% will give demographic feedback to
facilitate targeting.
- Kolsky.

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Member information also forms the
building blocks of much that follows.

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2. Align your content…
…with new and existing
sources of recurring
revenue.

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Go beyond marketing
benefits of content
generation like brand
awareness.
Find ways to use content
to sell products…
…or make content the
product itself. Eg.
subscriptions for
premium content.

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Ebooks.
Infographics.
Slidedecks.
White
papers &
reports.
Worksheets &
templates.
Videos.
Case
studies.
Blog posts.
Podcasts.
Directories.

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3. Create multi-platform engagement
84% of customers have a positive impression of
orgs that communicate in the channel of their
preference.
- Kolsky

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Give members opportunities
to engage and buy…
…across all
platforms.

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Use stored member information to
accelerate online registration
and payment.

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4. Stimulate gamification
Taking a website, a web app, an online community, etc. –
and integrating game mechanics into it to motivate
participation, engagement, and loyalty.

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Example –
Gamify fundraising.
Create a framework so
supporters can:
• Launch their own peer-to-
peer fundraising
campaign.
• Showcase sponsors,
assign teams, organize
events.
• Track their results &
compare to other groups.

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5. Monetize mobile.
McKinsey analysts estimate that app-related
revenues reached $25 billion in 2013 and will
rise to more than $70 billion by 2017.

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• Make data available through APIs (web
interfaces) — Consider partnering with other
orgs that will leverage your data.
• Revenue models:
• Pay-per-use.
• Subscription model.
• Revenue-sharing.

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6. Implement cross & up-selling
Cross-Selling adds to 0.2%
of sales (such as displaying
“people who bought this
item also bought”).
Up-Selling (in which visitors
are shown similar but more
expensive products) drives
over 4% of sales.
- Ash Web Studio.

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Upselling performs
20x better than
cross-selling when it
comes to product
pages.
Cross-selling is much
more effective when
presented on check
out pages versus
product pages.

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According to Forrester
research analyst
Sucharita Mulpuru,
product
recommendations are
responsible for an
average of 10-30%
of eCommerce site
revenues.
7. Foster product rating and reviews

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Google favors
fresh user-
generated
content in its
search results.
25% - 35%
traffic for large
e-commerce
sites is organic
search (SEO).
Here’s why…

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8. Monetize Community

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Provide premium content or
subscription(s). Marry with free.

27. Match product
offerings with
content.
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Offer top engagers
exclusive offers.

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• Recruiting / Jobs
Classified.
• Advertising – Your
products and
affiliates.

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"Advertisers worldwide will
spend $23.68 billion on paid
media to reach consumers on
social networks this year, a
33.5% increase from 2014.
By 2017, social network ad
spending will reach $35.98
billion, representing 16.0%
of all digital ad spending
globally.“
- eMarketer

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Marry web stats with
engagement stats to
build strong case for $$$
ad rates.

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9. Reward
engagement

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Give discounts to volunteers or
other high engagers as
measured by your engagement
system.
Give a freebie…add an
opportunity to up-sell or
cross-sell.

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10. Sell your
most engaged
member list…
…or let other
companies
advertise to your
most engaged
customers.

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Because your partners will
be as interested in your
most engaged members as
you are.

36. Summary
1. Incentivize members to complete online profiles.
2. Align your content.
3. Create multi-platform engagement.
4. Stimulate gamification.
5. Monetize mobile.
6. Implement cross- & up-selling.
7. Foster product rating and reviews
8. Monetize Community.
9. Reward engagement.
10. Sell your most engaged member list.
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