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Finding Your True Audience
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Transcript of Finding Your True Audience
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
FindingYourTrueAudienceTargetingtheRightCustomerattheRightTimewiththeRightMedia
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Anonlineusersseesmorethan1,800adsperday,whichisanincreaseofmorethan250%since2004.
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Howoftendoyouusetheinternettoresearchbeforeyoupurchase?
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Whichtypeofadsinfluenceyoumoreasapotentialbuyer?
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
9NeedtoKnows Revenuesarestillrelevant
– Collectinformationaboutcustomerstoestablishhowmuchcashmoneytheybringtoyourtable
Happinessiscontagious– Focusonhappycustomers
PricesensitivityisNOTagoodthing– Don’tmakeyourmarketpositionaboutprice– WhenMickeyDrexlertookoveraCEOofJCrew,hewaslookingforcustomerswillingtopaymoreforwell‐madeclothingandincreasedrevenue170%inthefirst5years
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
9NeedtoKnows Thebiggertheproblemsthebetter
– Thebiggertheproblemyourbrandcansolve,thebiggerthemarketresponse
– Intheearlydaysoftheinternet,AOLwentafterpeopleinterestedingettingonlinebutnotwillingtodoitalone
– Asaresult,30millionpeoplesignedupandtheybecame4thonthelistofeventsthatshapedthefirst25yearsoftheweb
Beonthelookoutforsomethingnew– Introducingnewproductsandservicescangenerateorganicgrowthcompaniescrave
– Focusonyourcustomersthataremostinterestedinnewinnovationsfromyourbrandtogeneratebottomlinegrowth
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
9NeedtoKnows Outthereadvocatingforyourbrand
– Thegreaterthelevelofinfluenceabuyerhasamongtheirsocialnetworksandwordofmouthmarketing,themoreabrand’smarketingROIwillbenefit
Ahubwithlotsofspokes– Themoreactiveandengagedacustomeriswithdifferentsocialmedia,themorevaluabletheycanbetoyourbrand
– FordMotorCo.pickedout100twenty‐somethingYouTubestorytellerswho’ddevelopedafancommunityoftheirownandgavethemaFiestafor6months
– EachmonththeysharetheirexperienceswiththeircommunitiesviaYouTube,Facebook,twitterandFlickr
– Fordreceived50,000requestsforinformationandsold10,000unitsinthefirst6daysofsales
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
9NeedtoKnows Distinctiveneedsandwants
– Themoresimilarandpredictableatargetgroup’sneedsandwants,theeasieritistodevelopcompellingpositioningandmessaging
Meaningfultotraditionalanddigitaldecisionmakers– Getasenseofhowhigh‐valuecustomersusetraditional,digitalandsocialmediacommunicationsthroughoutthepre‐andpost‐purchaseprocess
– Understandhowtheliketointeractwithabrandwithindifferentcommunicationschannels
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
WhatIsEquity?BuildingCustomerEquity
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
WhatisCustomerEquity? Afirmisonlyasgoodasitscustomersthinkitwillbethenext
timetheydobusinesswiththem CustomerEquityismadeupof3parts
– ValueEquity–acustomer’sobjectiveevaluationofthebrand’soffering
– BrandEquity–acustomer’ssubjectiveviewofthebrandanditsofferings
– RetentionEquity–acustomer’sviewofthestrengthoftherelationshipbetweenthemandthebrand
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
ValueEquity Acustomer’sobjectiveassessmentoftheutilityofabrand
basedonperceptionsofwhatisgivenupforwhatisreceived Whatdrivesvalueequityforthecustomer?
– Quality–Whatisthevalueofthebrandofferings?– Price–Howattractiveistheprice?– Convenience–Howeasyisittodobusinesswiththebrand?
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
BrandEquity Thecustomer’ssubjectiveandintangibleassessmentofthe
intangible,aboveandbeyonditsobjectivelyperceivedvalue– Thisisdeterminedbythebrand’smarketingstrategy,tacticsandinfluenceoverthecustomerthroughlifeexperiencesandassociationswiththebrand
Whatdrivesbrandequity?– Buildingawarenessandattractivecustomers– Buildingemotionalconnectionswithcustomers– Remindscustomerstorepurchase
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
RetentionEquity Thetendencyofthecustomertostickwithabrandaboveand
beyondthecustomer’sobjectiveandsubjectiveassessmentsofthebrand– Focusesontherelationshipbetweenthecustomerandbrand,basedonactionstakenbythebrandandthecustomertoestablish,buildandmaintainarelationship
Whatdrivesretentionequity?– Loyaltyprograms(frequentpurchases/rewardsprograms)– Specialrecognitionandtreatmentprograms– Affinity(emotionalconnectionprograms)– Communityprograms– Knowledge‐buildingprograms(workshopsandseminars)
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Audiencetargetingcanidentifythebestconsumersforaspecificadorcampaignandcanbeusedtoeffectivelyreachsales,acquisitionandbrandinggoals.
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
TheIngredientsofTargeting Whatarepeoplelookingfor
– SearchEngineinformation Interests
– Contentofarticlesviewed WhereTheyGo
– Pages,Sections,Sites WhatTheySayAboutThemselves
– Incomeranges,Gender,City ToolsTheyUse
– Calculators,Configurations,Comparisons
OfflineData– Transactional,Affinity,Psychographics
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
BehavioralTargeting:Theprocessofidentifyingpatternsofuserinteractions,andincorporatingthemintotheaddeliverydecision
Targeting:Theprocessofidentifyingsegmentsofsimilarusers,andincorporatingthemintotheaddeliverydecision
Interaction Recency Frequency
AudienceTargeting
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
WhatisBehavioralTargeting? Amethodusedbyonlineadvertiserstoincreasethe
effectivenessofacampaign Usesinformationcollectedaboutanindividual’sweb
browsingbehaviortoselecttheadvertisementstodisplaytothatindividual
Allowsforthedisplayingofadsthataremorerelevanttotheinterestsoftheindividualviewingaparticularpage
Becauseofthis,itisbelievedthatthistypeoftargetinghelpsadvertisersdelivertheirmessagestotheindividualsmostlikelytobeinfluencedbythem
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
HowBehavioralTargetingWorks
Tag Segmentation BehavioralTargeting
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
WhyDoesItWork? Reachandidentifyqualifiedaudiencesbasedontheir
behaviors,interestsandhabits Targetrelevantadstoengagedconsumersthroughouttheir
purchasingcycle Improveonlineadvertisingperformance,reducewasteand
increaseROI
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Atemagine,weworkwith2internationallyrespectedfirmsforaudiencesegmentation.
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
VisualDNA
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
TheVisualDNACustomerProfile
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
AudienceScience
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
TheAudienceScienceCustomerProfile
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
UnderstandingMarketSegmentationLearningHowtoBreakDownYourCustomer’sIntoGroups
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Marketsegmentationistheprocessthatcompaniesusetodividelargemarketsintosmallmarketsthatcanbereachedmoreefficientlyandeffectivelywithproductsandservicesthatmatchtheiruniqueneeds
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
MarketSegmentation
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
MarketSegmentation
Geographicsegmentation
Demographicsegmentation
Psychographicsegmentation
Behavioralsegmentation
Dividesthemarketintodifferentgeographicalunitssuchasnations,regions,states,counties,orcities
Dividesthemarketintogroupsbasedon
variablessuchasage,gender,family
size,income,occupationand
education
Dividesbuyersintogroupsbasedontheirknowledge,attitudes,uses,or
responsestoaproduct
Dividesbuyersintodifferentgroupsbasedonsocialclass,lifestyle,orpersonalitytraits
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
HowDoWeMarketToTheseSegments?
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
MarketingSegmentation
100%ofvisitors 100%ofvisitors
1segment=all 16segments=all
All Newvs.Returning
4KeyProducts
8MajorMarkets
16VisitorPersonas
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
MarketTargeting
UndifferentiatedMarketing
DifferentiatedMarketing
ConcentratedMarketing
MicroMarketing
Mass Segmented Niche Local/Individual
Targetsthewholemarketwithoneoffer
Massmarketing
Focusesoncommonneedsratherthanwhat’sdifferent
Targetsseveraldifferentmarketsegmentsanddesignsseparateoffersforeachtoachievehighersalesandstrongerposition
Targetsasmallshareofalargemarket
Limitedcompanyresources
Knowledgeofthemarket
Moreeffectiveandefficient
Practiceoftailoringproductsandmarketingprogramstosuitthetastesofspecificindividualsandlocations
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Viewcontent
Viewproductinformation
Viewad
Clickonad
Purchasesomething
Searchforsomething
Attendanevent
Provideinformationaboutthemselves
Interest
Life‐stage
Lifestyle
Intent
Behavior
Demography
MappingourDatatoSellableSegments
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Interest
Life‐stage
Lifestyle
Intent
Behavior
Demography
ActiveTravelers
Affluents
MappingourDatatoSellableSegments
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
UnderstandingHowTargetingWorks
SegmentTestingGeneralTesting Targeting ProfileTargeting
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Price
Volume
DirectSales
Fillbyadnetworks
ResultsfromMassMarketing
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Fillbyadnetworks
Price
Volume
DirectSales
NewRevenueAudience‐basedselling
ResultsfromMarketSegmentation
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
Price
Volume
DirectSales
Fillbyadnetworks
NewRevenue
Audience‐basedselling
ResultsfromAudienceTargeting
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
KnowYourCustomerTypes
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
TheResistantCustomer Mindset:Hatesyourcompanyandholdsdeepresentmentforyourbrand
Behavior:– Willspreadnegativewordofmouthwhereverpossible
– Tooktheirexperiencewithyourbrandpersonallyandislookingforrevenge
– Willdefecttoyourcompetitorfirstchancetheyget
Loyalty:Zero PossibilityofDefection:ExtremelyHigh(youcan’tsavethisgroup)
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
TheIndifferentCustomer Mindset:Seesyourcompany/product/serviceasnothingmorethanacommodity
Behavior– Willalwaystrytogetlowerpricestothepointofnearzeromargin
– Theywillpromisevolumeorfuturebusiness,butseelittleuniquevalueinyouroffering
– Alwayswillingtowalkawayfromthesalebecausetheyhaveotheroptionsavailable
Loyalty:One PossibilityforDefection:VeryHigh
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
TheAcceptantCustomer Mindset:Expectsyourcustomertoprovidethemaximumofwhat’saskedandnothingmore
Behavior:– Doesn’tthinkofyourbranduntilabsolutelynecessary
– Comestoyoubecauseyouhavebecomeahabitormoreconvenientchoice
– Maybeawareofother,betteroptions,butsimplyhasn’tmadetheefforttopursuethem
Loyalty:Two PossibilityforDefection:High
– Customerexpectationscanoutpacewhatyouprovide
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
ThePreferentialCustomer Mindset:Hasgrowntolikeyourbrandandtendstounderstandtheuniquevaluethatyouprovide
Behavior:– Mostofusmakethemistakeofmakingthiscustomertypethetopofourcustomerpyramid
– Whengivenachoice,theywillprobablycontinuetouseyourbrand
– Veryawareofindustrytrendsandcansurprisebydefectingifyouhavenotgiventhembenefitsorraisedthebaronserviceorinnovation
Loyalty:Three PossibilityforDefection:SomewhatHigh
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
TheEvangelist Mindset:Thepinnacleofthecustomerrelationshipandwouldbuyanythingyouoffer
Behavior:– Theytelleveryonetheyknowaboutyourcompany
– Mentionshowsatisfiedtheyareevenincasualconversations
– Yourbrandhasbecomepartoftheirlife
– Findspersonalmeaningwithyourbrand
– Worththeirweightingoldbecausetheydomoretogrowyourbusinessthananyadcampaign
Loyalty:Four PossibilityforDefection:None
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
CalculatingCustomerLifetimeValueWhatisacustomerworth?
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
CustomerLifetimeValue? CustomerLifetimeValue(CLV)ishowwedeterminewhata
customer/clientisworthoverthelifetimeoftheirrelationshipwiththebrand
Thisisdifficulttocalculateforconsumergoods,butveryeasyforservicebasedandfinancialservicesbrands
Whatwearelookingtounderstandiswhichcustomersareworthkeepingasclientsandwhichshouldbeletgotoincreaseprofitability
Thismayseemlikeadirtywaytodeterminehowmuchworkyoudotomaintainclientrelationshipsbutitisarequirement
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
http://emagine‐group.com ExperienceFocused,SociallyActive,DigitallyEnabled
NewCustomerValuation