Top Ten Tips for using technology to increase customer loyalty and engagement
Employing Data-Driven Engagement to Increase Customer Loyalty
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Transcript of Employing Data-Driven Engagement to Increase Customer Loyalty
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Michael Lummus
Digital Marketing Strategy, Teradata Applications
@lummusm | www.teradata.com/datadrivenmarketing
Employing Data-Driven Engagement to Increase Customer Loyalty
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2 1/29/2014 Teradata Confidential
THE STATE OF MARKETING AND LOYALTY TODAY
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3 1/29/2014 Teradata Confidential
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4 1/29/2014 Teradata Confidential
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5 1/29/2014 Teradata Confidential
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6 1/29/2014 Teradata Confidential
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7 1/29/2014 Teradata Confidential
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8 1/29/2014 Teradata Confidential
2008: 6.15
2012: 5.68
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9 1/29/2014 Teradata Confidential
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10 1/29/2014 Teradata Confidential
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11 1/29/2014 Teradata Confidential
LOYALTY In the midst of all this…
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12 1/29/2014 Teradata Confidential
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13 1/29/2014 Teradata Confidential
50% of consumers are open to any auto brand when they begin the shopping process
79% of car shoppers research vehicles online
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14 1/29/2014 Teradata Confidential
OtterBox:
A case study - building a loyal
customer base for a premium product
in a commoditized market
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15 1/29/2014 Teradata Confidential
Building Brand Loyalty
1. Connect with Customers
2. Anticipate Needs
3. Consistently Deliver on Quality
Curt Richardson Founder and CEO, Otterbox
1. Connect with Customers
2. Anticipate Needs
3. Consistently Deliver on Quality
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16 1/29/2014 Teradata Confidential
Connect with customers
Anticipate Needs
Consistently deliver on
quality
Relationship-based
channels
Predictive analytics
Multichannel metrics
Data
-Driv
en
Marketin
g
Data-Driven Marketing Drives Brand Loyalty B
ran
d L
oyalt
y
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17 1/29/2014 Teradata Confidential
Download the full results: www.teradata.com/Teradata-Applications/Capabilities/Data-Driven-Marketing/
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18 1/29/2014 Teradata Confidential
Data-Driven Marketing Execution:
40% graded themselves C or lower
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19 1/29/2014 Teradata Confidential
Marketers Under Pressure
of marketers feel pressure to
become more data-driven
Source: Teradata Data-Driven Marketing Survey 2013, Global
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20 1/29/2014 Teradata Confidential
Marketers and Data
of marketers believe that data is
their company’s most
underutilized asset
Source: Teradata Data-Driven Marketing Survey 2013, Global
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21 1/29/2014 Teradata Confidential
Efficiency in Marketing
of marketing departments
have embedded a data-driven
marketing culture into their
standard processes
Source: Teradata Data-Driven Marketing Survey 2013, Global
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22 1/29/2014 Teradata Confidential
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23 1/29/2014 Teradata Confidential
of marketers said
data-driven marketing
contributed to a better
business result,
more revenue or
competitive advantage
98%
Source: Teradata Data-Driven Marketing Survey 2013, Global
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24 1/29/2014 Teradata Confidential
A Data-Driven Marketing Transformation
Intent
Behavior
Customer Purchase
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25 1/29/2014 Teradata Confidential
Data-Driven Marketing drives business results.
800% Total ROI
20% increase in conversion rates
50% reduction in catalog circulation while increasing revenue
27% uplift in sales per email
UK Marketing Week
award for best
“Data-Driven Marketing”
Learn more: http://www.teradata.com/video/Integration-unleashes-the-power-of-online-data/
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26 1/29/2014 Teradata Confidential
Data-Driven Marketing: How Do You Do It?
conversion path
customer
behavior
affinity
purchase
response
website
mobile
social
attribution
spend
process
segmentation
decision offer
governance
preference
compliance
delivery
ENGAGE With the right
message in the
right channel
EXPLORE Customer data
to develop
new insights
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27 1/29/2014 Teradata Confidential
Insight begins when we develop a brand understanding of the customer.
Capture behavioral response across digital channels
Connect the customer’s digital journey with their transaction history
Tie the digital journey with the offline journey Match interactions with purchases Manage and access the customer data from various sources
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28 1/29/2014 Teradata Confidential 28
Customer’s Experience
Today’s Experience: Frustration and Silos
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29 1/29/2014 Teradata Confidential
Marketing Trends
71%
71% of
marketers will
implement a big
data solution
within the next
2 years
<10%
Less than
10% of
marketers use
their data in a
systematic
way
Just 18% of
marketers have a
single view of the
customer…but it is
considered a top
priority for future
investment
18%
Source: Teradata Data-Driven Marketing Survey 2013, Global
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30 1/29/2014 Teradata Confidential
“We have business with 4.8 billion consumers, and we'd like to think that we can have a relationship with each. And yet where we were, our relationships were very fractured. With our brands and our countries, we had a lot of different methods and systems and processes to track that consumer data and the relationship. And there was really no way that we could keep on top of that.“
Tim Butler, Director Consumer Solutions, Global Business Services
Procter & Gamble
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31 1/29/2014 Teradata Confidential
Procter & Gamble’s 1, Consumer Place “It's the idea of the home for consumer data.”
4.8 Billion
Consumers
180 Countries
50 Leadership
Brands
$84 Billion
Sales
Integrated
Consistent
Secure
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32 1/29/2014 Teradata Confidential
“Rather than have 15 markets do the test 15 different times, we're able to do the test in one market and then share the results, and then they execute the insight out of that in their own relevant way for their market...It’s better and smart business.”
Learn more: http://blogs.teradata.com/customers/proctor-gamble-data-driven-marketing-to-4-8-billion-people/
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33 1/29/2014 Teradata Confidential
Align experience design with customer journeys Develop behavioral models incorporating actions and affinities Manage revenue with campaigns aligns to conversion events
Competitive advantage is gained by uncovering and reacting to unique insights about customer behavior.
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34 1/29/2014 Teradata Confidential
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35 1/29/2014 Teradata Confidential
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36 1/29/2014 Teradata Confidential
Brands “Liked”
Media “Liked”
Segment A
Segment B
Segment A
Segment B
Integrate Social Preference for Segment Profiling
• Segment or populate dynamic content based on brand or product preference
• Better understand customer psychographics
• Inform media spend
• Identify predictive purchase indicators
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37 1/29/2014 Teradata Confidential
Marketers are shifting their thinking from the Funnel to the Path.
Consumers don’t move neatly down a funnel in a single channel. New analytical techniques are needed.
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38 1/29/2014 Teradata Confidential
Can you guess the most buzzed-about event at South by Southwest Interactive 2013?
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39 1/29/2014 Teradata Confidential
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40 1/29/2014 Teradata Confidential
The half-life of a YouTube video is 6 days. Agile insight development and deployment is required to capitalize on consumer trends.
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41 1/29/2014 Teradata Confidential
Make agile adjustments to marketing efforts based on discoveries Incorporate behavior for more accurate segmentations and more
relevant offers
Insights must be converted to a decisioning framework.
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42 1/29/2014 Teradata Confidential
A Customer Interaction Hub is a rules engine that decides which message to deliver in the moment of engagement.
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43 1/29/2014 Teradata Confidential
International Speedway Corporation
Multi-source data on 3 million fans 2500 marketing projects 2400 segments 1000 email campaigns 130 marketing users
A single marketing hub to manage:
Learn more: http://www.teradata.com/videos/ISC-Creating-Number-One-Fan-Experience-with-Data/
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44 1/29/2014 Teradata Confidential
Enable digital strategies to present the right message based on response
Deliver targeted content based on customer and past response
Execution combines content with intelligence to create exceptional experiences.
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45 1/29/2014 Teradata Confidential
Message delivery leverages multiple data sources.
Triggered by birthday
Team based on location or “like”
Customer’s name
Customer Database
Sources: Destination CRM, Social Data Redefines Marketing; Anand Patel, The NFL Truly Personalizes Email Marketing
Relevant offer based on customer behavior
Social Profile Data
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46 1/29/2014 Teradata Confidential
Integrated content drives fresh relevance.
Customer Reviews
Include peer product reviews in email messages
Theoretical Example Sources: Destination CRM, Social Data Redefines Marketing; Anand Patel, The NFL Truly Personalizes Email Marketing
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47 1/29/2014 Teradata Confidential
Integrated content drives fresh relevance.
Twitter Feed
Feature latest Tweets in emails to encourage Twitter follows and deliver fresh content
Theoretical Example Sources: Destination CRM, Social Data Redefines Marketing; Anand Patel, The NFL Truly Personalizes Email Marketing
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48 1/29/2014 Teradata Confidential
Integrated content drives fresh relevance.
Product Recommendations
Feature popular items in emails to encourage brand affinity and sales
Theoretical Example Sources: Destination CRM, Social Data Redefines Marketing; Anand Patel, The NFL Truly Personalizes Email Marketing
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49 1/29/2014 Teradata Confidential
The Result?
• Customer Database
• Website
• Customer Social Profile • Brand Social Profile
• Product Reviews
Highly relevant and personal messaging through integrated cross-channel data sources.
Theoretical Example Sources: Destination CRM, Social Data Redefines Marketing; Anand Patel, The NFL Truly Personalizes Email Marketing
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50 1/29/2014 Teradata Confidential
Then measure, iterate and improve.
conversion path
customer
behavior
affinity
purchase
response
website
mobile
social
attribution
spend
process
segmentation
decision offer
governance
preference
compliance
delivery
ENGAGE With the right
message in the
right channel
EXPLORE Customer data
to develop
new insights
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51 1/29/2014 Teradata Confidential
Learn More
Hear what more of our customers are doing today.
View additional videos at www.teradata.com/videos
Read “Big Data Marketing.”
The authoritative guide by Lisa Arthur, Teradata CMO, at
http://www.teradata.com/big-data-marketing/
Get the scoop on Teradata’s Data Driven Marketing Solutions.
Visit www.teradata.com/datadrivenmarketing
Talk to us.