An excerpt from Day 1 of a 3 day seminar series on Multichannel Marketing, from strategy to detailed contact plans, campaign examples, metrics and modeling.
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Day 1 driving business impact multichannel excerpt
1. Day 1 - Driving Business Impact through Effective
Campaign Management
Seminar Excerpt
2. GUIDELINES
SESSION OBJECTIVES
CONTENTS
• Introduction and Strategic Overview
• Customer Contact Strategies
• Solving Key Marketing Challenges
• What is a Marketing Database?
• The Role of Analytics in Driving Business Success
• Creating Winning Campaigns
1. Introduce Concepts in Customer
Centric Marketing
2. Introduce Concepts in Data
Driven Marketing
3. Introduce Effective Campaign
Process
Many topics will be covered at a high
level
Addressing issues more relevant to
post paid
Ask Questions as needed
Objectives, Guidelines & Contents
3. Learning Objectives
At the end of the session today, participants should be able to do the following:
Understand how to align marketing campaigns to the customer.
Understand how a portfolio approach can translate business goals into a
campaign strategy.
Define a contact strategy that respects prospects and prioritizes contacts for
the most valuable offers.
Utilize analytics to target customers and match offers to segments
5. What are we ultimately here to discuss? What is our objective?
Build a customer
centric strategy and
execute through multi-
channel campaign
management
Leverage the unique
dynamics of the pre-
post paid phone
business for profitable
growth
Profits
Customer LTV*
Network
optimization
7. What is Customer-Centricity?
“Customer-centricity is an over-arching philosophy which involves aligning
organizational resources for effectively responding to the ever-changing
needs of customers, while building mutually profitable relationships.”
- Craig Bailey & Kurt Jensen, Business Consultants
8. What does Customer Centricity mean to my company?
•To optimize the opportunity and value of each prospect and customer, companies
must be able to:
• Understand and predict current and potential customer needs and behavior
patterns across all channels
• Develop and execute plans to interact with customers and prospects in a manner
that delivers:
• What they need
• When they need it
• How they want it
• Fully leverage both inbound and outbound customer touch points to support and
deliver the optimal customer experience
• Transform data and analysis into business intelligence
• Apply the right staff resources, business process, technology
and data content against the body of work
9. The Results Tell the Story
Customer-Centric contact strategies produce
better results…
• Behavior and Preference-driven communication
(3X+ lift)
• Trigger-based optimization (8X+ lift)
• Multi-channel optimization (5X+ lift)
10. From Product to Customer Centric
-- Customer Value Landscape --
Product
Focus
High
Low
Solution
Focus
Customer
Value
Proactively
Understand
Customer
Drivers
Breadth of Offering
Create Customized
Solutions
Product
Focused
Segment
Focused
Customer
Focused
Individualized
Marketing
Channel
Integrated
11. Core
Customers
Core
Offering
Business
Suppliers
Target
Markets
Marketing
Channels
Customer
Data
Perspective
Educators & affiliates
Single product
Few large
segments
Single channel
Single supplier
Stand alone silo’d
data w/in product
Product
Centric
Segment
Centric
Channel
Integrated
Individualized
Customer
Value
Landscape
Segment 1-6
Products focused
on segments
Several smaller
segments
Multiple channels
not integrated
Single supplier-
multi products
Complementary
within segment
Segments-interests
& lifestyle
Bundled solutions
Many smaller
segments
Multiple channels
partially
integrated
Multiple suppliers
Integrated
customer data
Customer &
channel
Channel customized
solutions
Very small
segments
Multi-channel
integrated content
Multiple supplies &
channels
Integrated channel
& customer data
Personalized
content on
demand
Individual
solutions
Segment of one
Fully integrated
virtual service
Customized
integrated solutions
Dynamic data
sharing
STRATEGY
Customer
Centric
Brand
Supplier &
Group
Group
Dominant
Group
integrated
Group-trusted
provider
Current FutureNear term
Supplier dominant
Customer Centric is the Goal
12. Source: Booz Allen Hamilton
A New Customer Value Proposition
Industry
Traditional
Traditional = Value
Product Proposition
Truck
Manufacturing
Trucks “We sell and service trucks”
Aerospace
Components
Aerospace
Fasteners
“We sell high-performance
fasteners”
Utilities Electricity “We provide electricity
reliability”
Chemicals Lubricants “We sell a wide range of
lubricants”
Pharmaceutical
s
Drugs “We sell pharmaceuticals”
Value-Added Customer-Centric
+ Services = Value Proposition
Financing
Service
“We can help you reduce
life-cycle transportation
costs”
Application/Design
support
“We can reduce your
operational costs”
Energy asset
maintenance
“We can help you reduce
total energy costs”
Usage and
application design
Lubricant analysis
“We can increase your
machine performance and
up-time”
Product support
Outcomes-driven
information database
“We can help you better
manage your patient base”
13. Why Multichannel Marketing and Customer Centricity
Best-in-Class Performance Advantage
Source: Aberdeen Group
0% 20% 40% 60% 80% 100%
43%
31%
24%
60%
50%
38%
63%
52%
30%
Return on Marketing
Investment
Increase in gross
sales/revenues
Customer
retention rate
MarketingMetrics
% of respondents showing greater than 15% improvement
BIC
Industry Norm
Laggard
14. Self Assessment—Customer Centricity
Do you have a business strategy that looks to build products, sales, and
customer service around individual customers?
Do you have a process for combining all operational data around individual
customers?
Do you have a marketing strategy that builds on customers, not just individual
products?
Do you have strategic segments of customers that can be targeted in your
marketing campaigns?
16. Multi-channel Marketing
A systematic approach to deploying many different marketing channels to reach
your customer depending on their preferences.
Strategy—Accept that the customer will define a preference for where they
get information, you need to be there.
Technology—Requires a campaign automation tool to route information to
each channel.
Offers—Offers have to be translated into each of the channels where they are
presented.
Contact Strategy—A map of how each prospect and customer will be
communicated to over time. It must include business objectives and customer
preferences.
17. Marketing Maturity Roadmap – Multi-Channel Marketing
Where are you in your marketing evolution?
Mass
Marketing
Target
Marketing
Relationship
Marketing
Multi-Channel
Marketing
Relationship
Optimization
Customer
Focus
Company
Focus
Shared
Value Focus
Right Offer
For Some
Right
Offer, Right
Person
Right
Offer, Right
Person, Right
Time
Right
Offer,
Right
Person, Right
Times, Right Mix
of Channels
Right Value Exchange
18. Building a Multi-channel Strategy
Channel Attribute to Consider Decision Making
Customer preference Market Research—understand
preferred channel for point in sales
cycle
Cost per impression Align higher cost impressions with most
valuable customers and most valuable
transactions
Inbound/outbound messaging Inbound is most effective but requires
customer to initiate the contact.
Outbound is under your control.
Social channels Should be included in the mix, even if
just experimental for now
Define the conversation Be prepared to present the next piece
of the conversation at all times.
19. Multi-channel Marketing Drives Improved Results
Mature practitioners of multichannel marketing are improving
tactical results which, in turn, are driving strategic outcomes:
◦ 48% have increased impressions more than 15%.
◦ 43% say they've gained more than 15% in customer satisfaction scores.
◦ 40% are generating more than a 15% improvement in marketing-attributed
revenues.
◦ 24% report a 15% reduction in average sales cycle length.
◦ 34% report more than a 15% increase in return on marketing investment.
"The Multichannel Maturity Mandate”
Forrester Research – August 2012
20. Self Assessment
Have you defined specific steps that customers go through as
they consider your product, buy your product, and ultimately stay
loyal to your product?
Have you tested different marketing activities with regards to moving
customers from one step to the next?
Where do you stand on the marketing maturity roadmap?
What immediate steps can be taken to move to the next level of maturity?
Hinweis der Redaktion
Our Objectives include:
Fairly straightforward really,
It’s a transformation towards putting the customer first with the understanding that if their needs are known and satisfied, you will be rewarded by constant and increasing business.
It seems to me that STC is somewhat Segment-Centric…which is good. Would you agree? So the shift to Customer-Centric isn’t that difficult although you will likely need a more robust database or data mart, as well as increased channel capability (more use of SMS or social media) as well as collecting a bit more data about interests and lifestyles where possible. From there companies do tend to move into Channel Integrated but few achieve Individualized one-2-one marketing.
Customer centricity calls for different type of thinking about the value you offer to your customers. While today you may consider yourself as sellers of mobile phone services you may want o consider that in a customer focused world, you are actually selling full connectivity through your mobile device or your smart phone.
There is a research company in the U.S. which has separated companies by their superior performance across ROI, Incremental lift, customer retention and other business factors and has named them “best in class”. This table shows you that best in class companies which practice Customer Centricity have :
If customer centricity is a philosophy and organizing principle, then Multi-channel marketing is a business strategy and tactic that embraces the customers preference for how he wants to be contacted.
MCS begins with understanding the customer’s needs. It also involves some of the analyses that I will show you which will help you with a mix of channels and preferences