MULT MUL I T CHANNEL CUSTOMER ENGAGEMENT

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Nigel Miller
6 years ago
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1 MULTI-CHANNEL CUSTOMER ENGAGEMENT

2 Agenda What is Multi-Channel Engagement? Definitions of Engagement Merkle s Definition Multi-Channel Engagement g in Our Industry Examples of Engagement Why We Believe It s Still Evolving Understanding Consumer Engagement: Defining engagement as a new marketing discipline Examples of Good Multi-Channel Engagement Programs Case Study: Universal Orlando Case Study: BlackRock Investments 2011 Merkle Inc. All Rights Reserved. Confidential 2

4 What is Multi-Channel Engagement? Definition of Engagement: An Appointment or Arrangement APl Pledge, Obligation or Agreement An Encounter A Betrothal! As funny as it sounds, engagement does involve all of these 2011 Merkle Inc. All Rights Reserved. Confidential 4

6 Our Definition of Multi-Channel Engagement Engagement is an ongoing conversation with a customer, centered around the specific media that they consume on a regular basis. Display DM EM Its purpose is to consistently offer up content of interest in places and at points in time that are relevant to the customer, based on data derived from their behavior, to incent them to perform a desired action. Web Mobile Social 2011 Merkle Inc. All Rights Reserved. Confidential 6

7 What are the Desired Actions The goal of an Engagement strategy can vary based on a marketer s ultimate purpose, but typically involve: Conversions Referrals Expanded Relationship Loyalty / Retention Up-Sell Renewals 2011 Merkle Inc. All Rights Reserved. Confidential 7

10 Coordinated Follow-up: Structured Interactions More structured interactive programs are evolving, including quick lead gen and follow-up s to maximize recent engagement 2011 Merkle Inc. All Rights Reserved. Confidential 10

11 Coordinated Follow-up: Acquisition Insurers, especially, are migrating to more online follow-up of inquirers to increase engagement and conversion 2011 Merkle Inc. All Rights Reserved. Confidential 11

12 Life Events Anniversary s, birthdays, and timed events such as scheduled premium increases or policy renewals have been created to supplement other retention efforts Merkle Inc. All Rights Reserved. Confidential 12

13 Partnerships Partnerships incorporating sweepstakes and prizes associated with policies or services have emerged. This one by Farmer s promotes the integration of the agent location and entering a sweepstakes Merkle Inc. All Rights Reserved. Confidential 13

15 Integrated Campaigns Others have been able to accomplish this as well by generating one campaign related theme and carrying it through multiple outreach channels Merkle Inc. All Rights Reserved. Confidential 15

16 Microsites More recent efforts show the use of microsites to engage with a Brand, often extensions of an existing campaign Download the Free App 2011 Merkle Inc. All Rights Reserved. Confidential 16

17 Apps, Apps & More Apps Insurers and Wealth Managers have embraced new technology and channels such as phone and ipad apps to adapt to customer s need around real-time access 2011 Merkle Inc. All Rights Reserved. Confidential 17

18 Coordinated Engagement Despite all the examples, there are not many coordinated, multi-channel engagements: Most tend to be solo channel initiatives or campaign related initiatives Few are truly customer experience and ongoing engagement tactics Why don t we see more Coordinated Engagement? Because it s HARD 2011 Merkle Inc. All Rights Reserved. Confidential 18

20 Do We Really Understand Our Customers? Social: instant access to friends, brands Mobile: alwayson gateway device display search site mobile social DM/EM: preferred channel for brand engagement Website: go-to resource for consumer decisions 2011 Merkle Inc. All Rights Reserved. Confidential 20

22 Engagement as a New Marketing Discipline Acquire Engage Convert Goal Expand CRM marketing reach Activate consumer audience; sustained dialog Monetize customer base Primary Vehicles Direct Mail Search Display Social Mobile Site Key Metrics CPA Audience Size Engagement Index Cross-channel Adoption Campaign ROI Customer Value CRM ROI 2011 Merkle Inc. All Rights Reserved. Confidential 22

23 Consumer Engage Across Media / Channels Consumers are actively engaged across a combination of digital channels and media Blog 27% 27% actively read blogs Mobile 87% use 1+ times per day 87% 51% 51% are active texters Social IM 63% use Facebook weekly 63% 33% 33% use IM regularly 2011 Merkle Inc. All Rights Reserved. Confidential 23

24 Connected Consumers Tend to be More Engaged Online + + Social networkers are 61% more likely l to be regular ers Mobile engagers are 46% more likely to be active users + 78% of mobile users are regular users of social networking sites 2011 Merkle Inc. All Rights Reserved. Confidential 24

25 Adapting CRM to the Connected Consumer 1 Typical Engagement Strategy 2 Impact on the Customer egy rrent Strat Mobile Social 2 messages messages 5 Facebook posts 1 mobile message 1 direct mail message Cu Direct Mail Media Message Audience 9 customer contacts Connected Strategy 1 Connecting to the Customer 2 direct mail display social search mobile Putting the Customer First Mobile Social Direct Mail Audience Message Media 2011 Merkle Inc. All Rights Reserved. Confidential 25

26 Learning from the Consumer: Types of Engagement Reactive Brand Consumer responds to an outbound message from a brand Example: Consumer responds to a brand s Facebook post Proactive Brand Consumer initiates the engagement with a brand Example: Facebook post created by a FB Fan, visits a website Connected Consumer socializes with his/her social network on behalf of a brand Example: Consumer re-posts a brand s FB content to his FB network 2011 Merkle Inc. All Rights Reserved. Confidential 26

27 Integrating Engagement: Start With Customer Footprint un-mapped mapped data overlay engagement Targeted display target segment subscriber; active opener and clicker display search Un-mapped search user Frequent website visitor; it occasional purchaser site mobile New mobile opt-in social Extensive social network; active Facebook Fan Merkle customer data access Purchase history Demo/psychographic segments 2011 Merkle Inc. All Rights Reserved. Confidential 27

28 Understanding Engagement to Drive CRM Initiatives Customer Value Curve High value path Low value path Inflection point Understand d engagement behaviors that t occur between customer value inflection points W S S High Value E W Website S S S Social M Mobile M E E E M E Low Value W W E E W S E E W S W S M S M S E Digital Interactions over Time 2011 Merkle Inc. All Rights Reserved. Confidential 28

29 Definition of Engagement Definition: a non-monetary activity between a brand and a consumer Goal: integrate engagement to better understand customer engagement and identify new marketing opportunities Marketing Benefits: Sustain customer engagement: Identify marketing initiatives that encourage both Reactive and Proactive engagement Mitigate customer churn: Identify predictive behaviors that indicate high propensity for customers to become unengaged Drive higher value, loyal customers: Identify high-value behaviors that correlate with high value, longer term customers 2011 Merkle Inc. All Rights Reserved. Confidential 29

30 Example: Leveraging Engagement to Discover New Marketing Opportunities What We Know: Connection Strength Strong JCrew brand connection Social influencer, active Content Targeting g Likes shoes & denim Vertical Influence High level of fashion influence Channel Integration Engaged with JCrew program New Strategy: Leverage viral engagement First to Know. Send early-awareness, targeted message and Facebook post with new shoe, denim announcements Encourage & reward network social reviews, sharing In the Know. Create friend-oriented referral program. Send targeted message, FB post to leverage customer influence and activate their networks 2011 Merkle Inc. All Rights Reserved. Confidential 30

32 Background Where It All Began: UO s CMO wanted to build out their CRM program saw this as key way to develop relationships with Guests Sense of urgency needed to help support the launch of their new Harry Potter attraction Starting Point of CRM Program: UO Newsletter sent 1x per month, untargeted No targeting on website, no site optimization No existing social strategy No mobile initiatives in place Direct mail efforts focused on FL residents 2011 Merkle Inc. All Rights Reserved. Confidential 32

33 UO CRM Program Overview Working together, we implemented a targeted CRM program. Triggered Lifecycle Messaging: targeting messages based on and site behavior Optimized and Targeted Website Content: customized site content driven by site segmentation Integrated Social CRM Strategy: targeted Facebook messaging based on Facebook and site behavior Onsite Mobile Messaging: on-site, in-experience mobile messaging 2011 Merkle Inc. All Rights Reserved. Confidential 33

Targeted UO Lifecycle Messaging Strategy

purchase Includes the following ticket purchases:

Confirmation Confirmation / Thank you for

optimized creative Touch 2 (T2): Up Sell Message

Confirmation / Thank you Touch 3 (T3): Prepare

sell Purchase Confirmation / Thank you Touch 4

34 Targeted UO Lifecycle Messaging Strategy Pre-Arrival Campaign Flow OLTS park ticket purchase Includes the following ticket purchases: 1day 2 day 3+ day Touch 1 (T1): Triggered Confirmation Confirmation / Thank you for purchase set expectations Sent from Gateway with optimized creative Touch 2 (T2): Up Sell Message Up sell based on purchase history Purchase Confirmation / Thank you Touch 3 (T3): Prepare for trip Park Facilities, FAQs, map, relevant up sell Purchase Confirmation / Thank you Touch 4 (T4): Send-off letter We hope you enjoy your visit! Up sell Purchase Confirmation / Thank you Newsletter / Ac-hoc Integrated testing to improve message content, cadence, sequence Sent from Gateway, same as touch 1 template Merkle Inc. All Rights Reserved. Confidential 34

35 UO Website Targeting and Optimization 1 2 Persistent Navigation: Top Activities to Purchase VB Widget Persistent Navigation: Top Activities to Purchase VB Widget VB WWHP Microsite City Walk Theme Park Dining Targeted website content driven by: predictive modeling site segmentation path optimization analysis 2011 Merkle Inc. All Rights Reserved. Confidential 35

37 UO CRM Program Results 65% increase in direct revenue driven by targeted lifecycle messaging streams 45% 4.5% increase in conversion rate driven by onsite process optimization 37% increase in revenue driven by ecommerce and testing program Targeted social messaging is in process of being measured for ROI Initial goal is to drive Guest engagement 2011 Merkle Inc. All Rights Reserved. Confidential 37

39 Background BlackRock approached Merkle to assume a leadership role in the planning, development and execution of a Financial Advisor acquisition and crosssell campaign for 2011 An existing gpilot campaign proved to be able to drive increased response with the FA community, however issues with program execution, lead management and reporting have quelled the overall success of the effort BlackRock was looking for Merkle to take over and enhance the FA acquisition program while restructuring the strategic approach by employing Merkle s CRM experience to deliver ongoing, relevant communications that drive FA behavior 2011 Merkle Inc. All Rights Reserved. Confidential 39

40 Our Approach The overarching goal of the program was to engage the top financial advisors in the nation with BlackRock s value proposition, p entice them to become registered BlackRock advisors, and increase the amount of planned investments from this audience To accomplish this, Merkle devised a complete end to end strategy for the program which included the following: Ongoing outreach via direct mail and lead generation campaigns A preference ranking/selection via a microsite to understand FA interests and information needs An ongoing communication stream based upon preferences through the onboarding period Triggered communications based upon FA actions and behavior 2011 Merkle Inc. All Rights Reserved. Confidential 40

44 Segment Driven Personalization CRM Segmentation drives messaging strategy for Lead Generation Objective: Understand the relationship each FA has with BlackRock and deliver an appropriate and compelling message and offer to drive interaction Segment Messaging Strategy Offer Strategy Prospects Get to know BlackRock Gift card or Premium item FA s Behavior Drives Segmentation Decisions Dabblers Clients You should come around more often We can help you grow your business Retirement solutions Client seminars Morningstar 1:1 session with a MFS for select advisors Advocates You re a valued partner, thank you Masters Club benefits 2011 Merkle Inc. All Rights Reserved. Confidential 44

45 Lead Gen and Preference Communications Current Program Summary Program Attributes Landing gpage with Preferences 3 Touch - 5 Topic EM Streams Lead Gen drives the FA to call a Sales Associate or learn more via a Microsite Preference selection of 5 financial topics and registration occurs direct mail follow ups based upon Preference selection continue for 3 weeks Push to Register and Engage Activity drives next series of communication along the advisor path 2011 Merkle Inc. All Rights Reserved. Confidential 45

Contact Strategy: Triggered Engagement Triggers to help drive engagement with CRM Marketing and Retention Objective: Apply segmentation to take advantage of key event triggers that allow for greater

47 Contact Strategy: Triggered Engagement Triggers to help drive engagement with CRM Marketing and Retention Objective: Apply segmentation to take advantage of key event triggers that allow for greater engagement with the financial i advisor audience Trigger Push Message Result Measurement First Sales Contact Welcome to BlackRock Time to drop first ticket Examples of key triggers that enhanced timeliness of communications Moves Firm First Ticket Move with BlackRock Congratulations and thank you Retention measurement FP movement to a new segment First 60 days of relationship First Up-Sell Conversion Fulfillment request Loss of sales momentum Feedback and Survey First Cross-Sell Conversion 2011 Merkle Inc. All Rights Reserved. Confidential 47

49 Results and Further Developments Response rates to Lead Gen efforts have exceeded 5% for completed registrants Preference settings have contributed substantial learnings on our segments, and allowed us to focus on the primary topics for future campaigns New programs that are leveraging personalized targeting and preference information include the following: Cross sell and up sell programs Fund specific targeting Gold Circle membership (loyalty program) Retention and Winback 2011 Merkle Inc. All Rights Reserved. Confidential 49

The Four Pillars of Marketing : How to Measure the ROI of Marketing

The Four Pillars of Marketing : How to Measure the ROI of Marketing Pillar 1: Retain and Grow Relationships with Existing Clients Client Satisfaction and Retention Client Service Cross-Marketing Referral