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Multichannel and omnichannel - managing the move
The document discusses the transition to omnichannel marketing, emphasizing the necessity for brands to focus on customer-centricity and data integration across various channels. It highlights the importance of understanding customer expectations, behaviors, and the buyer journey while providing strategies for measuring success and enhancing customer experience. The document also underscores the need for continuous evaluation of marketing efforts and adapting to customer preferences to increase retention and profitability.
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Multichannel and omnichannel - managing the move
- 1. Managing the move to mul/channel and omni channel Michael Leander at Mediapost Hit Mail Mul/channel seminar in Sofia, Bulgaria
- 4. What your customers expect
- 5. What your customers experience
- 6. You cannot control your audience – go from send to recipient control
- 7. Divorce your brand from this pathe7c stat on relevance
- 8. … and become part of this stat
- 9. Move from sender to recipient control
- 10. Unsilo your data Silos Make You Suck
- 11. Omnichannel is the new mul/channel
- 14. Omnichannel = Delivering a truly seamless experience across touch points, channels and devices
- 15. Your mission is not to embrace Omnichannel at all cost, but to enforce a greater emphasis on customer centricity AND channel & response device synergies
- 16. OMNIPRESENCE MULTI-‐CHANNEL be where your profitable customers and likely to become profitable prospects are
- 17. Market share or something else? Start here – get your financial metrics right first
- 18. Mul7channel marketers mul7ply ROMI by 5, 10, 15
- 19. Tracking your numbers & measuring your success
- 20. Share of Heart What wins them over?
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- 22.
- 23. How do you find influencers and how do you tag them?
- 24. Beware of which customers you can afford to serve
- 26.
- 27. Own The Experience from A to Z
- 28. THE CUSTOMER Experience OMNICHANNEL RELEVANCE EMPOWERMENT InnovaCon reflecCng the Cmes we are living in
- 29.
- 30. Give everybody all they want or give the ones that maMer all they want or give the ones that maMer what is possible and reasonable
- 31. Connec/ng content to the buying process is crucial for ROMI success
- 32. A few pointers on what your next steps could be
- 33. Understand buyer journey Track, log and use behavior proacCvely Bring transac/onal (€ data) into play Master one channel at a Cme Be open to all channels, ROMI should be a decisive factor, not channel-‐fashion
- 34. Create a customer vision/strategy Customer Knowledge Customer Value Customer ExpectaCon Balanced effort IntegraCon Customer Experience Customer Experience How do we ensure that customers get the same experience across all touch points? On which level must the experience be consistent across all channels? IntegraCon How do we share knowledge of our customers? How do we plan and implement customer acCviCes across the company? How close do we want to integrate ourselves with customers and partners? Balanced effort How do we balance our efforts in relaCon to the customers value? What effect does that have in our acCviCes? How far will we go? How do we focus on loyalty, retenCon and cross sales? Customer ExpectaCons When are the customer in touch with us and why? Which expectaCons do they have and how do we live up to them? How do we communicate with the customers? What impact does customer saCsfacCon have on revenue and profit? Customer Value Which customers have which value? How do we measure it? Which customers will we aMract, retain or develop? Which service will we provide the defined segments? Knowledge of Customers How do we collect knowledge of our customers In which touch points? How do we use this knowledge? How can we enrich and increase our own knowledge
- 35. Breathe media agnos7c Remember! Audience media preferences differ depending on purpose
- 36. What is your percep7on about your current aTribu7on? Channel % spend Rate effec/veness 1 = low 5 = max Solo or part of cross-‐channel? Email markeCng Online adverCsing Offline adverCsing Direct mail / printed catalogues Social media Out of home TV / Radio
- 37. What is your percep7on about your current aTribu7on? Channel % spend Rate effec/ve ness 1 = low 5 = max Solo or part of cross-‐ channel? % of customers who prefer this channel? Sell, Educate, Nurture, Branding Email markeCng Direct mail / printed catalogues Social media Out of home TV / Radio
- 38. PuZng It All Together: • An average of 19% of customers respond to one or more strategies • The overall retenCon rate goes up by 19.3% • Orders per year and average order size also increase significantly • These numbers are illustraCve. You can create your own numbers using tests and controls % Sales or Percent % Change % Change % Change Customers Customers in Orders/ Average Strategy Affected Responding Retention Year Order 1 Phone Calls 10% 10.00% 1.00% 1.00% 1.00% 2 Personalized Letters 30% 5.00% 1.50% 1.50% 1.50% 3 Personalized Email 20% 5.00% 1.00% 2.00% 4.00% 4 Email Newsletters 20% 5.00% 1.00% 2.00% 4.00% 5 Gold Member Services 5% 40.00% 2.00% 1.00% 2.00% 6 Loyalty Program 40% 10.00% 4.00% 4.00% 4.00% 7 Birthday Club 20% 5.00% 1.00% 4.00% 5.00% 8 Shift to Multi Channel 20% 10.00% 2.00% 2.00% 2.00% 9 Next Best Product 80% 5.00% 4.00% 4.00% 4.00% 10 Segment Strategies 60% 3.00% 1.80% 1.80% 1.80% All Customer Impact 30.5% 19.60% 19.30% 23.30% 29.30%
- 39. Create meaningful customer segments -‐ try to spot the unprofitable customers & remember One Size Doesn’t Fit All 79.67% 24.82% 15.83% 1.52% -21.83% -‐40.00% -‐20.00% 0.00% 20.00% 40.00% 60.00% 80.00% 5% 11% 28% 28% 28% This 28% lost 22% of the bank’s profits! Bank Customers by Profitability
- 40. And then think about real /me marke/ng & service
- 41. Integrate across all channels -‐ smart !
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- 43. Get in touch if you want more informa7on Michael@leander.me