How to use insightful data to increase the customer lifetime value - Alex Timlin, Emarsys

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Digital Marketing Theatre - June 19th, 11:30-12:00 Reaching your customers at multiple touch points throughout their customer journey significantly increases customer engagement and therefore the customer lifetime value. In this presentation Alex will highlight the business benefits of collating and analysing digital data to produce actionable intelligence.

Transcript of How to use insightful data to increase the customer lifetime value - Alex Timlin, Emarsys

  • 1. VIENNA LONDON MUNICH ZURICH BERLIN PARIS HONG KONG MOSCOW ISTANBUL BEIJING SINGAPORE DUBAI How to use Insightful Data to Increase Customer Lifetime Value Alex Timlin: Director of Sales and Client Solutions, Emarsys, [email protected] Maximising Customer Engagement Maximising Customer Lifetime Value

2. Talk with us @Emarsys @ARTimlin #totallyengaged Before we begin 3. Emarsys Seminar Session How to use Insightful Data to Increase the Customer Lifetime Value Reaching your customers at multiple touch points throughout their customer journey significantly increases customer engagement and therefore the customer lifetime value. In this presentation Alex will highlight the business benefits of collating and analysing digital data to produce actionable intelligence. Alex Timlin, Director Sales and Client Solutions, Emarsys 4. About Emarsys 5. Todays Agenda What is a Customer Journey? What data to collect and how do I analyse it? Why should I do it? 6. 1 2 3 4 Traditional Customer Journey 7. Understanding the Journey with Web Analytics 8. Beginnings of Customer Journey analysis Our original analysis of the Customer Journey was to look at this basic process, identify the opportunities to improve that experience and drive conversions Our oldest digital channels Search, Email, Website Optimisation, Web Analytics all evolved around making this short process better 9. So whats the problem? 10. Multi-channel customer acquisition Over time the number the number of channels we are using to drive purchases has exploded Search, Email, Display, Affiliates, Facebook Ads, Pinterest, YouTube, Direct Mail, Catalogues, Direct Mail, Call Centre etc. But we measure them all in the same way conversions 11. Customers Dont Just buy from a single interaction or a single channel. But even attribution tools are designed to look at the Purchase Path to a single purchase. They dont look at Engagement and they dont look at Repeat Purchases and Long Term Value 12. Some important statistics* after more than 10 years in marketing optimisation Most eCommerce websites convert at less than 4% Less than 10% of your unique traffic will add something to a Shopping Cart 80% of the Purchasing Customers on your database have only ever made 1 purchase 13. Why you should be worried about these statistics? 14. Some important statistics* after more than 10 years in marketing optimisation The cost of acquisition is going up. The average conversion rate in the US and Europe is going down. In a depressed economy the reason people are switching more to online is price. 15. We have two options Compete on price alone Compete on Customer Experience or 16. Understanding of the Customer Lifecycle and where your Customers are at each stage is an important first step: Loyalty Conversion Engagement Discovery 17. What content fits the customer? 4 key questions for successful customer experience Who is the customer? When to reach the customer? How to reach the customer? Who is the customer? 18. So what should we measure in terms of Customer Engagement? Date of First Engagement Registration/Account Creation/Purchase Channel used for first Registration Lead Source Website visit behaviour date, session time, page views, category views Email behaviour open/click Mobile behaviour App log-in, SMS click through Device mobile/tablet/desktop Transactional History RFM Purchase Channel Online/Instore/In-App 19. What happens when we understand the 4 questions: 20. 1 21. 2 22. 3 23. 4 24. 4 25. Capture Engage Convert Repeat Retain 26. WHY?: treat your customers differently Leads First-time Buyers Active Buyers Churning Customers Hot & High Potential Lead & Churning Gold Buyer Would you treat them the same? Stages Revenue Male, 25 years old Browsed website 3x in last 7 days Interested in expensive suits & coats HIGH eRFM POTENTIAL Female, 35 years old Avg. Purchase value 150 Last Purchase >180 days HIGH FM SCORE 27. Smart Insight - customer intelligence The customer lifecycle segmentation screen presents a snapshot of all your customers and their importance for your business. CHURNING GOLD CUSTOMER 28. Smart Insight - customer intelligence We can chose and save a segment from this screen in this case all defecting gold customers. 29. Smart Insight - customer intelligence In theAutomation Center, blueprints can be created or modified in a drag- and-drop canvas. Here you can see a customer loyalty program. 30. Smart Insight - customer intelligence The winback campaign and your website are enhanced by personalised product recommendations 31. Connect With Us facebook.com/Emarsys twitter.com/Emarsys linkedin.com/company/Emarsys plus.google.com/+Emarsys emarsys.com Win a copy of The New Digital Age by Eric Schmidt Visit us at Stand IW572 32. Leads First-time Buyers Active Buyers StagesDefecting Customers 1 Higher conversion rate & quicker conversion Revenue Welcome Mail Incentive in case of No Purchase Conversion: 3.0%Conversion: 19.1% 5 WHEN: Case Study 33. 5 WHEN: Case Study Leads First-time Buyers Active Buyers StagesDefecting Customers 2 Increase revenue per customer & strenghten retention Revenue Conversion: 19.1% First Time Buyer Feedback 34. 5 WHEN: Case Study Leads First-time Buyers Active Buyers StagesDefecting Customers 3 Winback churning Revenue Reactivation (90d without Visit) Reactivation (180d of Inactivity) Conversion: 7.9%Conversion: 9.2% 35. VIENNA LONDON MUNICH ZURICH BERLIN PARIS HONG KONG MOSCOW ISTANBUL BEIJING SINGAPORE DUBAI Thank You Any Questions?