This webinar is powered by: Target Marketing (www.targetmarketingmag.com/)
Sponsored by: CDS Global (http://www.cds-global.com/)
Presented by: Allison Dancy, VP of Marketing, CDS Global; John Goering, VP of Soulutions Engineering, CDS Global; and Reggie Brady, President at Reggie Brady Marketing Soulutions Consultancy
Themes: Multichannel marketing, integrated marketing channels, one-to-one marketing.
Reggie Brady: The purchasing funnel (customer moving from brand awareness to purchase) has changed. The number of channels for purchasing is exploding and you need to be where the potential customer is. Mutlichannel marketing is multi-touch. The complexities of multichannel marketing require integrated marketing based on data about what does and doesn’t work for your product. Your challenge is to meet the customers at the right time, the right channel (where they are comfortable), with the right message. Blending the company focus with the customer focus moves through relationship marketing to multichannel marketing. Engaged customers spend 3-6 times more time than the average customer. The cross-channel customer spends 7X’s more than the average customer.
How to get to the engaged customer? Integrated marketing is tricky. To win in the multichannel world use integrated customer analytics (if they tell you what you need) track in real time and 2 more points . It’s all about the customer.
Components of marketing relevance: Customer data requires segmentation and expertise: inciteful use of advanced tools (a good ROI), and using imagery and colors for a message that is relevant to your customer.
Relevancy means Segementation: organize your customers into groups and message them at their level(s). Start with about 5 meaningful segments. Don’t get overcomplicated. Test you messaging with what you already know about the segment. Look at the conversion rate from click to purchase.
John Goering: The endgame is to leverage data across channels . Find out as much as you can at the personal level so you can communicate at that level. Find the right medium of data for your product: social interaction is informal, print is tangible, and email is inbetween. Example of customer retention: WebMD customization program (http://www.webmd.com/) that has a low cost engagement program.
Reggie Brady: Efficient retention happens when customers feel you care about them, they’re not just another customer. One example that sends that special message is triggered email (a trigger sends an email) . Managing multichannel streams can be split into 5 leverage points: response time, sequence, pacing , frequency, and channel.
New Mandate for Campaigns: Enable the real-time management of messaging, data analysis, and retrival of information. Enhance the relevance and personlization of your message, improve data and process integration across business units.
John Goering: Leverage one-to-one communications to build a new holistic view of the customer (email address, twitter address, etc) and google analytics. Over half of internet users use of online brands from off line media channels. Print continues to be the number one channel. Non-profit direct mail retains 75% of donation share. Variable marketing data shows average of 35-50% improvement with multichannel campaigns.
Reggie Brady: The US interactive marketing spend is slowly shifting online. Businesses best move is to integrate on and offline marketing for a multitouch customer interaction. Examples: Chicos integrates the catalogue, email, home page, twitter, and Facebook presence. Redbox integrates retail, SMS, email & social channels that build cross channel deals for movie rentals. WellsFargo sequencing of email and direct mail resulted in an increase of conversion percentages.
Organizational silos inhibit integration. The silos are the result of separating marketing groups for each channel. To solve these problems have all channel groups report to the same person, develop cross-channel functional teams, create new compensation structures to encourage collaboration.
Track across channels: Inadequate tracking misleads you to close essential channels when they are actually interacting. Have an ongoing testing strategy to measure across channels.
John Goering: Data capture is just as important as centralization. Getting the full loop of the customer is vital to combine and leverage the data.
Conclusion: The more you get an individual involved the more you become part of their DNA. Your business focus is to break down silos, track trends then act on those trends.
Use all of the channels that make sense for your business.
You are only as good as your data. Data that is captured in real time is vital.
Measurement is a must.
Resources: Target Marketing has archived webinars available for free at http://www.targetmarketingmag.com/webinar#. CDS Global hosts another webinar tomorrow: The State of the Industry Making the Shift to Digital: http://www.cds-global.com/resources/webcasts/state_of_the_industry_making_the_shift_to_digital.html