Case study: Square Meal - How to use Intelligent Data to Implement Successful Recommendation...
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Transcript of Case study: Square Meal - How to use Intelligent Data to Implement Successful Recommendation...
VIENNA • LONDON • MUNICH • ZURICH • BERLIN • PARIS • HONG KONG • MOSCOW • ISTANBUL • BEIJING • SINGAPORE • DUBAI
How to use Intelligent Data to Implement Succesful
Recommendation Campaigns, a Square Meal Case Study Daniel Hagos – Client Solutions Manager, Emarsys
Ed Butcher – Head of Online, Square Meal
Talk with us @Emarsys @SquareMeal
#totallyengaged
Before we begin…
About Emarsys
About Emarsys
Email Service Provider
The Customer Engagement Company
4 key questions for successful customer engagement
How to choose the right Product?
Marketers aims
Personalized and Targeted Communication
” 88% of business leaders said being closer to their customers was the top priority for realizing their strategy over the next five years
IBM
29%
34%
38%
37%
Social media engagement
Conversion rate optimisation
Content marketing
Targeting and personalisation
2013 2012
44%
41%
66%
37%
39%
56%
44%
31%
Improving email deliverability
Quantifying email marketing ROI
Targeting recipients with highly
relevant content
Both channels (32B2C) Consumer channel (B2C) Business channel (BB)
Which three digital-related areas are the top priorities for your organisation in 2013?
Most significant challenges to email mar-keting effectiveness, by primary channel
“
39%
39%
39% 68%
The reality
Are targeted emails being sent?
20%
20%
20%
19%
19%
25% 25%
24% 18% 18%
15% 9%
Content viewed on site
Up-sell
Abandoned baskded
Subscription due for renewal
Selling comple- mentary products
Lapsed customers
Win-back/reengagement Shopping cart abandonment
Upsell/Cross promotional
Date triggered
Event countdown
Post purchase
Activation
Triggered based on website behaviour
Do you send out automated emails based on any of the following triggers or behavior?
Do you use targeted email for the following occasions?
In spite of consumer affinity for personalization, few companies other than Amazon.com and Netflix execute it in a turnkey, efficient, and effective way.
Forrester
“ ”
64% of CMOs have either an informal or no process to manage their marketing automation.
The Annuitas Group
“ ”
25% 26%
Why Is There A Gap?
Many delegates focused on... the barriers they face before implementing a marketing automation platform, with the vast majority saying that they don’t know where to start (especially in a very large organisation)
Econsultancy, 2013
“ ”
Lack of know-how
…on the barriers they face before implementing a marketing automation platform, ……or that internal challenges prevent them from making any notable progress
Econsultancy, 2013
“ ”
Internal challenges (e.g. IT support, no resources)
Decision Tree Labs, 2013
“ ”
Lack of integration
IBM, 2013
“ ”
Budget & ROI
The two biggest barriers are cost and lack of certainty about ROI — both issues that are becoming increasingly important in the marketing domain
46 percent believe one of the top challenge of data- driven marketing today is the inability to connect data across multiple sources
Currently, what data do most marketers use to send segmented campaigns?
What data is being used?
Purchase behaviour
Gender
Preference centre
Email behaviour
Merchandising Teams knowledge
How do you know what a customer is
interested in now?
The Website tells us what a customer is interested in now
The most meaningful interaction
with the customers is on the website
10x more user data generated on the
website compared to email alone
The website is always the most
up-to-date point of expressing
interest
Challenge: How can the website data be utilised to automatically create unique and personalised content across various marketing channels?
Recommendations : How do they work?
Captures: • everything visitors do on
the website
Capture Analyse Act
Applies: • recommendation and
prediction algorithms to the data
Provides: • personalised content in
web, email and display advertising
Multi-channel recommendations
Dynamic recommendation widgets in real-time.
Boost website conversions and sales.
Automatically personalise every email you send.
Recommend products to people.
Display Ad Retargetng
Website Recommender
Email Recommender
Retargeting keeps track of your website visitors and
displays your ad to them as they visit other sites.
Recommendations… only for the big boys???
Who’s using recommendations effectively?
Now available to SMBs..
Who’s using recommendations effectively?
and many more…
electronics
real estate
job listings
toys
grocery
books
dating
Why do they work?
ROI Revenue
Brand loyalty Engagement
Engagement CTR
Enabling personalised, highly relevant 1-to-1 product & content recommendations
Why do they work?
“Up to 20% of retailers revenue could be attributed to product recommendations” “15% of consumers explicitly admitted that they purchased when they saw recommendations on a page”.
(Forrester, 2010)
What percentage of revenue can be attributed to product recommendations??
Browsing
Cart
Purchase
Multi-Channel Recommendations across the Buyer Cycle
2
Predict Website
Predict Email
Personal • 8% CTR • 2.5% revenue
Similar Items • 10% CTR • 4-10% revenue
Matching Items • 2-3% CTR • 1% revenue
Abandoned Browse
• retarget aban-doned browse
In Cart • 4% CTR • ~3% revenue
Abandoned Cart
• retarget aban-doned items
Re-Purchase • Increase
retention & ROI
Personal • 1.5-2x CTR • 2-6x revenue
About Square Meal
• UK’s leading guide to restaurants & bars
• 2 print titles
• Big website, mobile site & apps
• 11,000 restaurants, 8,000 venues
• Active database of 250,000 users
• 2 trade shows
• 25 years
Square Meal Background
Square Meal Results from Predict 43% higher click through rate when Square Meal’s emails have recommendations More customers can discover new restaurants and fewer leave without booking 4 times more likely to convert.
Before recommendations
• Open Rate: ~31.29% (max 48%)
• Click Through Rate: ~13% (max 22%)
• Click To Open: 40%
• Loyalty (LTV): increased 30%
Similar/Related Items
ALSO VIEWED widget offers alternative products • “Other products you may
be interested in”
• Generates 4%-10% of total revenue
• Increases engagement, average CTR 10%
• Square Meal: 4% of all website bookings revenue is generated by Emarsys Predict
Learn the 3 key benefits of using a single platform over disparate technologies
3:30 – 5.30pm
VIENNA • LONDON • MUNICH • ZURICH • BERLIN • PARIS • HONG KONG • MOSCOW • ISTANBUL • BEIJING • SINGAPORE • DUBAI
Thank You Any Questions?