Future Is Now Webinar Series Recap & Strategic Planning for 2015
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Transcript of Future Is Now Webinar Series Recap & Strategic Planning for 2015
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The Future is NOW!
Joel Book
Principal, Marketing Insights
Salesforce Marketing Cloud
@joelbook
How Smart Brands are Using the Salesforce Marketing Cloud to Acquire, Onboard, Serve and Retain Customers
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Safe Harbor
Safe harbor statement under the Private Securities Litigation Reform Act of 1995:
This presentation may contain forward-looking statements that involve risks, uncertainties, and assumptions. If any such uncertainties materialize or if any of the assumptions proves incorrect, the results of salesforce.com, inc. could differ materially from the results expressed or implied by the forward-looking statements we make. All statements other than statements of historical fact could be deemed forward-looking, including any projections of product or service availability, subscriber growth, earnings, revenues, or other financial items and any statements regarding strategies or plans of management for future operations, statements of belief, any statements concerning new, planned, or upgraded services or technology developments and customer contracts or use of our services.
The risks and uncertainties referred to above include – but are not limited to – risks associated with developing and delivering new functionality for our service, new products and services, our new business model, our past operating losses, possible fluctuations in our operating results and rate of growth, interruptions or delays in our Web hosting, breach of our security measures, the outcome of any litigation, risks associated with completed and any possible mergers and acquisitions, the immature market in which we operate, our relatively limited operating history, our ability to expand, retain, and motivate our employees and manage our growth, new releases of our service and successful customer deployment, our limited history reselling non-salesforce.com products, and utilization and selling to larger enterprise customers. Further information on potential factors that could affect the financial results of salesforce.com, inc. is included in our annual report on Form 10-K for the most recent fiscal year and in our quarterly report on Form 10-Q for the most recent fiscal quarter. These documents and others containing important disclosures are available on the SEC Filings section of the Investor Information section of our Web site.
Any unreleased services or features referenced in this or other presentations, press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase our services should make the purchase decisions based upon features that are currently available. Salesforce.com, inc. assumes no obligation and does not intend to update these forward-looking statements.
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Use to introduce a
demo, video, Q&A, etc.
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First Visit Hand-Raise Purchase
Buying Cycle
Sales Cycle
• Online Research
• Exploring Brands and Products
• Narrowing of Options
• Making the decision
• Justifying Decision
• Ordering
The B2C Buying Process has Changed!
Online Research
“Before ever entering a store, 62% of shoppers already know what they want to buy through prior online research.”Bazaarvoice: "Social Trends Report 2013"
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Buying Cycle
Sales Cycle
The B2B Buying Process has Changed!
Online Research
“70% of the B2B buying cycle is complete before the buyer engages with Sales”Source: Sirius Decisions
First Visit Hand-Raise Purchase
• Online Research
• Exploring Brands and Products
• Narrowing of Options
• Making the decision
• Justifying Decision
• Ordering
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Source: Google – “Zero Moment of Truth”, 2012
The average consumer consults 10.2 sources of information before making a purchase.
{In 2010, it was 5.3}
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of all shoppers use the Internet to research and purchase products and servicesSource: Cisco Internet Business Solutions Group
"Catch and Keep Digital Shoppers" 2013
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By 2018, 58% of the US population will access the Internet via a connected TV.
Source: eMarketer, June 2014
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of consumers rely on social networks to guide their purchase decision.Source: SproutSocial, 2014
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73% of US mobile phone users are smartphone owners. Source: comScore MobileLens, October 2014
Consumers are Mobile First
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of consumers use their mobile phone to research products in store.Source: Cisco Internet Business Solutions Group study: "Catch and Keep Digital Shoppers“ January 2013
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Use to introduce a
demo, video, Q&A, etc.
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The Connected Consumer
More Informed.
More Empowered.
More Demanding.
1
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Customers expect a
across channels!
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The Customer Life Cycle
Business Getting Business Keeping
Brands Must Deliver Relevant Content through Every Channel at Every Stage of the Customer Life Cycle
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78% of consumers are more likely to be a repeat customer if a brand provides them personalized offers.Source: Infosys
The Good News
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54% of consumers would consider ending their relationship with a brand if they are not given tailor-made, relevant content & offers.Source: CMO Council
The Bad News
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+
Channels Applications
Email Email Marketing
Retail Store
Website
Print Advertising
Social Media
Dealer/Agent
Broadcast
Mobile
Mobile Messaging
CRM
E-Commerce
Call Center
Billing
Service
Warranty
Product Needs, Interests, Preferences
CampaignResponse History
Analytics and Engagement Score
Product /ServicePurchase History
CustomerDemographics
Email AddressPhysical Address
Customer Data
Event Attendance History
Data is The Money Ball of 1:1 Marketing
Explicit Data (Reported) + Implicit Data (Observed)
2
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“Data-driven companies are 5% more productive and 6% more profitable”
Source: Gartner, Inc., “Forecast Analysis: Enterprise Application Software, Worldwide, 1Q14 Update”, April 29, 2014
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Brands Must Have a Multi-Channel Strategy for Observing,
Acquiring and Storing Customer Behavioral DataMelissa Smith Email: [email protected]
Age 32 Twitter: @MelissaSmith01
Chicago, IL Facebook Friend & Email Subscriber
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Twitter Interaction
Triggered by
Published
Content
Email Signup
via Facebook
Welcome Email /
Request for
Needs & Interests
Site Browsing &
Guided Exposure
to Content
Email 1
Triggering
Mobile App
Download
Email 2 & Invitation
for Mobile Push
Sign up
Progressive Profiling Enables Brands to Learn about the Customer’s Interests and Predict what Offers, Information and Service are Relevant and Timely
Pro
gre
ss
ive
Pro
fili
ng
Twitter:
@MelissaSmith01
Melissa Smith
Postal Address
Email:
Preferred Retailer
Birth year
Mobile Phone Number
Personal Profile Data
Browsing Behavior
Product Interests
Promotion Participation
Mobile App Downloaded
Product Purchase History
Requested Push Notifications
Customer Service History
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When customer data is used to predict and deliver relevant content, Conversion Rates increase 6 – 9%!
Personalized Content Drives Higher Conversion
Source: 2014 Salesforce Marketing Cloud
Benchmark Report
Mobile
Online
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Journey Management
3
Customer Experience
is the key to delivering a great
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Source: McKinsey & Company
The buyer considers an initial set of brands, based on brand perceptions and exposure to recent touch points.
1
The buyer adds or subtracts brands as he evaluates what he wants.
2
Ultimately, the buyer selects a brand at the moment of purchase.
3
After purchasing a product or service, the buyer builds expectations based on experience to inform the next decision journey.
4
The Customer
Decision Journey
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Source: McKinsey & Company, 2013
Customer Journeys span all stages of the Customer
Experience, from buying the product to actually using it
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Increases revenue by up to 15%
Improves customer satisfaction 20%
Lowers the cost to serve by up to 20%
Source: McKinsey & Company, 2013
Automating and Optimizing Customer Journeys Produces Impressive Results
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Use to introduce a
demo, video, Q&A, etc.
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Acquire Onboard Engage Retain
1:1 Digital MarketingBest Practices for Building Profitable Customer Relationships
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Acquire Onboard Retain
1:1 Digital MarketingBest Practices for Building Profitable Customer Relationships
Engage
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AUDIENCES ARE YOUR ASSETS
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HABIT #1: THINK LIKE AN ASSET MANAGER
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Academy Sports is adding 15K+
email subscribers per week
($450K value/wk)
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Pei Wei Uses In-Store Signage to Promote Special Offers and
Acquire New Email Subscribers
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Pei Wei uses in-store signage to invite guests to text and receive a buy-one, get-one free coupon each time a new entrée is introduced.
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Bar-Coded Email Coupons Drive
Consumers to StoresCampaign Results:
• In two weeks, Pei Wei generated 18,000 new email subscribers!
• Produced coupon redemption rates of 20%!
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Acquire Onboard Retain
1:1 Digital MarketingBest Practices for Building Profitable Customer Relationships
Engage
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Source: Live / Work Intelligence: “The Critical First 3 Months of Being a Customer” September 2014
Engaging New Customers in the First 3 Months is Critical
One-third of customers who defect to another brand do so after
encountering a situation in the early stage of the customer life cycle.
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No Single Channel is More Effective than Email for Welcoming New Customers
The Customer Life Cycle
Business Getting Business Keeping
Email is #1 for Onboarding
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Why this Works:
Set expectations for new
Mint.com users. Reinforces
value of using Mint.com
Effectively introduces newly
registered users to the Mint.com
site and the services it provides
Provides five clear steps on how
to proceed
Mint.com onboards new users with a series of four emails.
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Subsequent Mint.com onboarding messages are delivered at +7 days, +14 days, and +35 days after the initial Welcome.
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Acquire Onboard Retain
1:1 Digital MarketingBest Practices for Building Profitable Customer Relationships
Engage
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of B2C marketing professionals rank eNewsletters Most Effective.2015 Content Marketing Trends – North America
Content Marketing Institute / MarketingProfs
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Email is the Backbone of Dreamfields Growth and Success
Dreamfields is a client of HyperDrive Interactive
In 7 years, Dreamfields has . . .
- Grown its consumer email subscriber base to 614,000+
- Grown its healthcare professionals email subscriber base to 48,000+
- Increased sales 7X from 3M pounds/year to 22M pounds/year
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Dreamfields’ “Brand Fans” are its Best Marketers!
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Dreamfields’ “Brand Fans” are its Best Marketers!
Each year, Dreamfields
“brand fans” invite
130,000+ friends to try
Dreamfields
That’s 130,000+ trial
coupons in the hands of
potential customers
These coupons have a
30% Redemption Rate!!
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"At RBC, the future is digital. When you combine the passion of our 80,000 employees with the strength of our digital channels, that is what will make us win in the future."
Mark Atkinson
Vice President, Digital Marketing & Sales
Royal Bank of Canada
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RBC is Using Mobile to Improve the Quality
and Timeliness of Customer Service
RBC Email Alert
RBC Text Alert
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RBC customers set up email alerts, text alerts, and push notifications.
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Acquire Onboard Serve Retain
1:1 Digital MarketingBest Practices for Building Profitable Customer Relationships
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Beyond The Rack is a Leading
eCommerce Flash Sale Retailer
• Members-only access• Unique sales every day (9am & 5pm)• Limited Time (48 to 72 hours)• Limited Inventory• Deep Discounts (up to 85% off retail)
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of online shoppers are willing personal preferences to receive more relevant email.Source: Harris Interactive, 2014
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BTR sends over 2.5 million unique email versions daily!
Personalization attributes include:
• Individual shopping behaviour
• What brands the shopper prefers
• What products the shopper likes
• What offers they don’t respond to
Personalization of email content delivers a 12-18% revenue lift!
Email is Responsible for Driving 66% of Revenues for Beyond The Rack
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of Beyond The Rack Emails are Opened on a Mobile Device!
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Beyond The Rack uses MobilePush to send daily push notifications to members notifying them of the special sales for the day.
Results• 60% of Beyond The Rack mobile app
downloaders have opted-in to receive push notifications.
• 75% of Beyond The Rack mobile app downloaders have signed into their account in the mobile app, allowing Beyond The Rack to learn more about individual customer preferences.
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Jessica Alba
Actress and Founder of The Honest Company
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CONFIDENTIAL 62
Metric Lifecycle Average Overall Average
Opens 39% 17%
Clicks 5% 3%
Conversions* 6x Overall Average
*Any click that ends up on the Order Confirmation page is considered a conversion
Lifecycle (Winback) Marketing Campaigns are
triggered by member purchase behavior. These
campaigns are the best performing of all email
campaigns for The Honest Company.
Lifecycle Marketing Campaigns
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12/4/2014 CONFIDENTIAL 63
Lifecycle Marketing Campaigns – Lapsed Shoppers
Day 75 since last purchase Day 89 since last purchase
34% Open Rate
5% CTR
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12/4/2014 CONFIDENTIAL 64
Lifecycle Marketing Campaigns – Canceled Members
7 Days After Trial Cancel 14 Days After Trial Cancel
31% Open Rate
5% CTR
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12/4/2014 CONFIDENTIAL 65
Lifecycle Marketing Campaigns – Cart Abandoned
Email #1Sent 1 day after cart abandon
Email #2Sent 3 days after abandon if no
purchase since Email #1
36% Open Rate
3% CTR
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Triggered Abandoned Cart Emails Capture Sales that Would Otherwise Be Lost
of online shoppers DO NOT complete purchase after placing item(s) in their shopping cart.Source: SeeWhy, 2014
of all abandoned cart emails are opened.
of clicks lead to purchases back on site.Source: SaleCycle, 2014
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Use to introduce a
demo, video, Q&A, etc.
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The New Email Marketing Paradigm
Understand the needs, interests and behavior of individual customers and use this insight to predict and deliver
personalized content that aids the acquisition, onboarding, serving and
retention of customers.
![Page 69: Future Is Now Webinar Series Recap & Strategic Planning for 2015](https://reader034.fdocuments.in/reader034/viewer/2022042817/55a5b0151a28abd2578b466f/html5/thumbnails/69.jpg)
The New Email Marketing Paradigm
Understand the needs, interests and behavior of individual customers and use this insight to predict and deliver
personalized content that aids the acquisition, onboarding, serving and
retention of customers.
![Page 70: Future Is Now Webinar Series Recap & Strategic Planning for 2015](https://reader034.fdocuments.in/reader034/viewer/2022042817/55a5b0151a28abd2578b466f/html5/thumbnails/70.jpg)
The New Email Marketing Paradigm
Understand the needs, interests and behavior of individual customers and use this insight to predict and deliver
personalized content that aids the acquisition, onboarding, serving and
retention of customers.
![Page 71: Future Is Now Webinar Series Recap & Strategic Planning for 2015](https://reader034.fdocuments.in/reader034/viewer/2022042817/55a5b0151a28abd2578b466f/html5/thumbnails/71.jpg)
Power the Customer Journey Text “JOURNEY” to 56237
Tips | Strategies | Trends
*Msg&Data Rates Apply. Get 1msg/week. HELP for help. STOPto Stop. T&Cs avail at http://pages.exacttarget.com/etsmshelp/
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Use to introduce a
demo, video, Q&A, etc.
Joel BookPrincipal, Marketing Insights
Salesforce Marketing Cloud
@JoelBook
Thanks!
www.linkedin.com/in/joelbook/