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Multichannel Marketing:
    The New Black
Multichannel Marketing:
  The New Black
         Offline

   Web             Mobile


     Social   Email
Why Multichannel Marketing?
• People search before they
  buy
• People want buying options
• Your best customers are
  multichannel                       Retain   Acquire
• Multichannel marketing
  delivers better results:
   – Improved retention              Grow     Engage
   – Increase revenue per
     purchase
   – Increase in products sold per
     customer
First,
A bit about what‟s happening
 in the multichannel world.
How Big is Multichannel Marketing?
The New Marketing Mix




Source: SAS 2011
Budget Distribution is Changing




Source: SAS 2011
Media Emphasis is Shifting




Source: SAS 2011
Skills Gap Still Remains in ‘New’ Media




   Source: SAS 2011
Multichannel Competence Falls Short




  Source: SAS 2011
Measurement is a Challenge




Source: SAS 2011
New AIDA Continuum
          Old Media

                   New Media



 Reach             Engagement       Conversion              Buzz
(Awareness)   40% (Interest and 10%
                     Desire)
                                         (Action)   1%   (Satisfaction)




                          Social Media
So,
 what was your last great
multichannel experience?
Was it Something You Bought?
Or Someplace You Went?
Web Couponing                                  Digital – iPhone App




                           Search Engine Ads
                                               Best Buy Express




 Facebook - Ideagiftr

                        Event - NASCAR         Twitter - Twelpforce
Was it a Bank?
                                         Twitter
  Interactive Website




                                                   Interactive Billboard
                                 iPhone App

YouTube Product Demonstrations
Was it Even Product Marketing?
      Web Video

                  Checkbox Message
                                     Direct Mail




ATM Screen

                  Statement Insert
What‟s Consistent With The Best
  Multichannel Experiences?
It‟s About YOU!
You,
It‟s About YOU!
    The Customer
Most of what we know about the consumer is
driven by data:




                                Source: SAS 2011
“It ain’t like it used to be…”
New Channels Redefine How We
        Look at Data
Are you listening?
Tools: Track, Trend, Test . . . Do it again
“Your biggest marketing
channel is your customers.”

        Who they are
    What are their needs
    Who do they influence
   What makes them happy
Magazines, SMS,                                      Face-to-Face,
     Social Media                                         Call Centers,
                                                          online
                       Mail, Social
                        Media




                                                            Face-to-Face,
                                                              NO MAIL!

Websites, Radio                       Television, Radio
Connect the Tangible and Emotional
Know Your Target . . . And Who
      Influences Them
So What Can You
  Do With This
    Insight?
The Power of Listening and Observing
Louis Vuitton
(Integrated Digital Media)
Louis Vuitton
(Integrated Digital Media)
Chase Freedom (Social Media)
Chase understands the importance of retention, not just
acquisition. They are teasing fans of things to come (884 likes on
this post alone).
FI Multichannel Integration
Campaign Development
• There’s more to it than
  most think
• Focus on the basics
• Leverage the
  opportunities
• It’s what you DON’T
  see that can hurt you
Who is the Target
  Audience?
• Develop a
  communications
  strategy that is
  steeped into the
  lives and experience
  of those you want to
  reach.
But Don‟t Get Fooled by „Gut Instinct‟
Stick to
“One Thing”
Aggregate and
   Build…
   but be wary of
“Paralysis by Analysis”
Test and Learn
• There are no
  magic silver bullets
• Continue to test
  combinations over
  time
• Insight,
  Interaction,
  Improve

                         Source: SAS, 2010
Track and Analyze
 • Measure ROI to                                                  Opened Email Messages                TOTAL   Industry Benchmark       Open %

 Develop Strategic                                     300000                                                                             18.0%
                                                                                                                                          16.0%
                                                       250000
 Directions                                            200000
                                                                                                                                          14.0%
                                                                                                                                          12.0%
                                                                                                                                          10.0%
                                                       150000
                                                                                                                                          8.0%
Total Email Messages Sent                              100000                                                                             6.0%
                ABT         CBT     NBAZ      NSB          VBC         ZFNB       TOTAL      % Change                                     4.0%
                                                        50000
    SEP 10                                                                                                                                2.0%
   OCT 10
                                                            0                                                                             0.0%
   NOV 10
   DEC 10
                                                                                                                               Industry Source:
   JAN 11     105,889        20      459      649           0         658,715    765,732      100.0%                           Forrester
    FEB 11     5,706        5,332    835     344,435        0         446,913    803,221       4.9%
   MAR 11      13,945       4,609   39,565   326,404        0         418,030    802,553      -0.1%
   APR 11      17,370       7,084    440     338,238       993        728,094    1,092,219    36.1%
   MAY 11      43,849       3,325    970     240,877      5,397       332,335    626,753      -42.6%
   JUN 11      22,503       6,944   1,409    422,723      5,500       550,123    1,009,202    61.0%
    JUL 11     9,725        6,850   79,883   352,364      14,902      631,427    1,095,151     8.5%
   AUG 11      13,386       3,304   42,062   517,223      3,153       526,345    1,105,473     0.9%
    SEP 11     68,919       4,778   3,787    457,579      9,568      1,007,296   1,551,927    40.4%


13-M CHANGE    68,919       4,778   3,787    457,579      9,568      1,007,296   1,551,927   100.0%
• Measure Engagement to
Develop Strategies to
                                                                          Social Media Engagement
Better Interact with                                        350                                             80

Consumers                                                   300
                                                            250
                                                                                                            70
                                                                                                            60
                                                                                                            50
                                                            200
                                                                                                            40
                                                            150
                 Social Media Awareness                     100
                                                                                                            30
                                                                                                            20
14,000
                                                             50 2,000                                       10
                                                                1,800
12,000                                                        0                                             0
                                                                1,600
10,000                                                            1,400

 8,000                                                            1,200
                                                                  1,000        Interactions   Admin Posts
 6,000                                                            800
 4,000                                                            600
                                                                  400
 2,000
                                                                  200
    0                                                             0




         Social Page Views   Facebook Fans   Twitter Followers
Stay Focused.
Don‟t Chase the Shiny Object
Where We’ve Been
Multi-Touch Program Overview
• Integrate both e-mail and offline direct messaging to our
  clients
• Goal: Increase share of wallet by focusing on the client’s next
  most likely product
   – Once successful (acquisition of a new product), the
      program will repeat itself with a systematic up-sell/cross-
      sell strategy
Key Program Results
• The Multi-Touch campaign drove impressive lifts over the
  non-mailed control group in terms of both account response
  rate (130%) and average balance (241%).
• About 84% of new accounts and 95% of balance dollars were
  in deposit-related product lines.
• Onboarding program has reduced attrition by approximately
  5%.
• Increase in traffic to PURLs.
Where We’re Going
7 Best Multichannel Practices
•   Maintain your brand throughout ALL executions
•   Live the journey from your customer’s perspective
•   Don’t forget ‘old’ media
•   Balance mix – Be great in 1 channel, good in many
•   Leverage the benefits of each channel
•   Do it better, or differently, preferably both
•   Test – Measure - Test
Contact Info
James.marous@harlandclarke.com
818-297-0268
Jimmarous.blogspot.com

Matthew.Wilcox@zionsbancorp.com
801-316-1664
Mattwilcoxpro.com

tharry@richter7.com
801-303-1538
blog.richter7.com