Transcript Multi-Channel, Multi-Touch Marketing

Multi-Channel, Multi-Touch Marketing
Rapid program development concepts unlock “Value in Play”
7th Annual Insurance Direct Marketing Forums 2009: Integrated Marketing
Saturday, July 18, 2015
Topics of Discussion
1.
Introduction and Presentation Objectives
2.
Three Important Trends Affecting All Marketers
–
Marketing Spend and Priorities
–
Consumer Adoption of Online Channels and Activities (Demographic View)
–
Consumers Don’t Buy Like They Used To
3.
The Challenge Posed To Marketers
4.
Value in Play + Rapid Program Development – Tactical Steps to Get Moving
5.
–
Value in Play (ViP) Defined
–
Program Development Framework
–
Value in Play Examples and Blueprints to Build and Sell Internally Your Concepts
Closing
–
One Day Workshop Approach to Getting Started
–
2009 Conventional Wisdom Watch
2
Marketing Focus and Spending
Generations in 2009
Generations Explained
Generation Name*
Birth Years, Ages in 2009
Gen Y (Millennials)
Gen X
Younger Boomers
Older Boomers
Silent Generation
G.I. Generation
Born 1977-1990, Ages 18-32
Born 1965-1976, Ages 33-44
Born 1955-1964, Ages 45-54
Born 1946-1954, Ages 55-63
Born 1937-1945, Ages 64-72
Born -1936, Age 73+
% of total adult
population
26%
20%
20%
13%
9%
9%
% of internet-using
population
30%
23%
22%
13%
7%
4%
Source: Pew Internet & American Life Project December 2008 survey. N=2,253 total adults, and margin of error is ±2%. N=1,650
total internet users, and margin of error is ±3%.
*All generation labels used in this report, with the exception of “Younger -” and “Older -” Boomers, are the names
conventionalized by Howe and Strauss’s book, Generations: Strauss, William & Howe, Neil. Generations: The History of
America's Future, 1584 to 2069 (Perennial, 1992). As for “Younger Boomers” and “Older Boomers”, enough research has been
done to suggest that the two decades of Baby Boomers are different enough to merit being divided into distinct generational
groups.
Source: PEW Research. Generations Online in 2009
4
Americans with Home Broadband by Age
100%
90%
80%
70%
68%
69%
68%
71%
68%
67%
66%
60%
60%
58%
48%
50%
42%
49%
40%
40%
40%
42%
31%
36%
30%
35%
36%
32%
27%
20%
16%
23%
10%
13%
8%
4%
0%
12-17
18-24
25-29
30-34
35-39
40-44
45-49
2008
50-54
55-59
60-64
65-69
2005
Chart 2: Percentage of all Americans with broadband at home by age (Teens, 12-17, Nov. 2007-Feb. 2008,
margin of error = ±3%. Adults, December 2008, margins of error differ by subgroup. See methodology.).
1/28/2009
Generations Online in 2009
5
70-75
76+
Who is Online and What Are They Doing?
Active engagement
with social media
(visit SNS, create SNS profile,
create blogs)
More advanced online
entertainment
(download videos, music and
podcasts)
The majority of teens and
Gen Y use SNS. Less
than 1/5 of generations
older than Gen X use
SNS.
More advanced communication
and passive social media use
(instant messaging, visit SNS, read blogs)
Basic online entertainment
(online videos, playing games)
While there are always
exceptions, older
generations typically do
not engage with the
internet past e-commerce.
E-commerce
(online shopping, banking, and travel reservations)
Research and information gathering
(product research, news, health and religious information searches)
The vast majority of online
adults from all generations
uses email and search
engines.
Email and search
Source: PEW Research. Generations Online in 2009
6
Who is Online & What Are They Doing?
Rank
Gen Y
Younger
Boomers
Gen X
Older
Boomers
Silent
Generation
G.I.
Generation
1
Email
Email
Email
Email
Email
Email
2
Search
Search
Search
Search
Search
Search
3
Research product
Research product
Research product
Get health info
Research product
Get health info
4
Get news
Get health info
Get health info
Research product
Get health info
Make travel
reservations
Research product
5
Watch video
Buy something
Get news
Buy something
Make travel
reservations
Get news
Visit gov’t site
Buy something
Above this line, over
50% of internet users
in the given
generation engage in
this online activity
6
Buy something
Get news
Make travel
reservations
7
Get health info
Make travel
reservations
Buy something
Make travel
reservations
Buy something
Get news
8
Visit SNS
Bank
Visit gov’t site
Visit gov’t site
Get news
Visit gov’t site
9
Make travel
reservations
Visit gov’t site
Research for job
Bank
Bank
Get religious info
10
Get job info
Research for job
Bank
Research for job
Research for job
Bank
11
Create SNS profile
Watch video
Watch video
Get job info
Get religious info
IM
12
IM
Get job info
Get job info
Watch video
Rate product
Play games
13
Download music
Download music
Get religious info
Rate product
Play games
Rate product
14
Bank
IM
Rate product
Get religious info
IM
Read blog
15
Visit gov’t site
Get religious info
IM
Play games
Watch video
Watch video
16
Research for job
Play games
Auction
Auction
Read blog
Download video
17
Play games
Visit SNS
Read blog
Read blog
Auction
Get job info
18
Read blog
Rate product
Play games
IM
Download music
Podcast
80-89%
19
Download video
Read blog
Download music
Download music
Download video
Research for job
70-79%
20
Rate product
Download video
Download video
Download video
Get job info
Auction
60-69%
21
Get religious info
Auction
Visit SNS
Podcast
Visit SNS
Create blog
22
Auction
Create SNS profile
Podcast
Visit SNS
Podcast
Download music
23
Podcast
Podcast
Create SNS profile
Create SNS profile
Create blog
Visit SNS
20-29%
24
Create blog
Create blog
Create blog
Create blog
Create SNS profile
Create SNS profile
10-19%
25
Visit virtual world
Visit virtual world
Visit virtual world
Visit virtual world
Visit virtual world
Visit virtual world
Source: PEW Research. Generations online in 2009
Key: % of internet users in
each generation who engages
in this online activity
90-100%
50-59%
40-49%
30-39%
0-9%
7
Consumers Don’t Buy Like They Used To
Awareness
Familiarity
Source: Adapted from McKinsey Global Consulting – Customer Decision
Journey - 2009
Consideration
Purchase
Loyalty
Consumers Don’t Buy Like They Used To
print
call center
store
web
mobile
@
email
Awareness
Familiarity
Source: Adapted from McKinsey Global Consulting – Customer Decision
Journey - 2009
social
Consideration
Purchase
Loyalty
Business Challenge
@
email
mobile
call center
web
Awareness
Familiarity
Consideration
print
social
Purchase
Likelihood of Behavior
Moving Toward Action (time M to Y)
Moving Away from Action (time M to Y)
Loyalty
Business Challenge Continued
Awareness
Familiarity
Consideration
Purchase
Loyalty
Likelihood of Behavior
Moving Toward Action (time M to Y)
print
print
print
Moving Away from Action (time M to Y)
print
Re-Introducing Value in Play
Value in Play – Those critical triggering events and phases during a customer’s decision journey
when value is either created, preserved, or degraded. There are practical and complex examples:
Some Examples:
a. The weeks and months leading up to “Retirement” (major investment company)
b. Captive onsite guest (MGM Grand in Las Vegas)
c. Vehicle lease expiration in poor supply/demand environment (leasing arm of one of
the largest financial institutions in the nation)
d. Other major life events (birth of child, residential move, etc.)
Awareness
Familiarity
Consideration
Purchase
Likelihood of Behavior
Moving Toward Action (time M to Y)
Moving Away from Action (time M to Y)
Loyalty
Re-Introducing Value in Play (cont.)
Core Value in Play Characteristics
a. Always seem obvious in retrospect
b. Incredibly high ROI (dollars and client value)
c. Initial ViP idea seems to be generated by those closest to
the customer decision journey
d. More business logic based vs. analytically based
e. Require creative thinking on how to get access to
validation data
f. Are typically sponsored by a business owner and not
marketing
Where Does Value in Play Fit in the Scheme of Things?
objective
strategy
Company Strategy #1
Develop more
compelling and relevant
marketing programs
Acquire, Retain
and Grow
Company Objective:
Increase the Relationships
value we
with
New and
provide to our policy
Existing
holder and the
valuePolicy
Holders
that they provide
to us
tactic
ViP pilot
Activate social media
Print to Online
Company Strategy #2
Build a world class
Database Marketing
infrastructure
Tactic 1
Company Strategy #3
Re-tool the Agent sales
force with web-based
technologies
Tactic 1
Tactic 2
Tactic 3
Tactic 2
Tactic 3
ViP Example 1 – What Does “Retiring” Look Like?
If a high-value customer, with increasing account
balances, and recent trading activity, suddenly misses a
bi-weekly payroll deposit contribution to his 401k, then
trigger a Value in Play event called Retiring.
Source
Systems
Events
Monthly
Statements
Account
Balance
Increasing
over 12
months
Brokerage
Feed
Trade
More than 10
trades this
month
Account
Feed
Skipped 401k
Contribution
Patterns
Sequence of
All Three
Attribute Action
ViP
Filters
Triggers
High Value
Customer
Retiring
Marketing
System
Agent Call
15
ViP Example 2 – “Captive Audience”
When guests check in to the MGM Grand for a conference
they typically spend some but not all of the conference
down time at the facility. The Grand wanted to provide an
incentive for this “captive audience” to remain onsite for
food and entertainment.
Pre-Paid Legal Services
Convention
September, 2008
* MMA Global Case Study October 2008
ViP Example 2 cont. – “Captive Audience”
Received
Sent
GOBIG to MGMGRAND
MGMGRAND: Show this
text to your hostess at
Craftsteak and receive 2
for 1 Martinis anytime
between 5-7pm tonight.
Visit us at
www.7024236361.com for
more deals.
• Outcome:
– 208 offer replies (69%) out of 300 guests
– 547 offers redeemed
– Viral program component attracted new guests
Theme adapted from MMA Global Case Study
October 2008
17
Step 1 – Identify the Value in Play in Your Business
Likelihood of Behavior
Moving Toward Action (time M to Y)
Moving Away from Action (time M to Y)
What does the
buyer decision
journey look like
in your business
Communicate with
your customers in
ways that reflect
their journey
Medical
Awareness
Familiarity
Consideration
Purchase
Emotional
Loyalty
Economic
Medical
Capture Interest
Arm with Info
Stress Value
On-Boarding
Emotional
Loyalty
Economic
Step 2: Map the ViP to Programs, Tactics and Touches
Level 1:
Solution
Solutions attempt to define
for your business the
components in the buyer
decision journey
Cap. Interest
Arm with Info
Emp. Value
OnBoarding
Loyalty
Level 2:
Program
Many Programs can be
found within a Solution.
Here we see a high level
design for an On
Boarding Program.
Level 3:
Tactic
A Program is typically
made up of many
Tactics. This is a high
level design for the
Entrench Tactic.
Level 4:
Touch
The components of a single communication (email, mail, phone, web page). Touches can (and should)
have many versions
Step 3: Use Simple Visual Tools to Build the Tactic Level Waterfall
Business
Condition
Client
Condition
Complete
Yes or No?
@
@
@
@
Remove
from
Program
Business
Condition
Client
Condition
Complete
Yes or No?
@
@
@
@
Remove
from
Program
Business
Condition
Client
Condition
Complete
Yes or No?
@
@
@
@
Remove
from
Program
Move to
New
Stream
Step 4: Map Your ViP Concepts to Corporate Goals – Pick Your Winners
Acquire
Convert
Grow
Retain
Objective
Grow Opt In DB
Applied but not Bound
Cross-sell, build brand
credibility
Measure
# of Records
Increase in Closures
Riders closing and opt-in DB
Customer involvement / revenue impact potential
8
7
4
3
Policy Renewal
Active dialogues with old
policyholders
ViP Concept #8
10
ViP Concept #10
ViP Concept #7
9
ViP Concept #5
6
Reactive on old renewal
dates
LTV
ViP Concept #4
5
Reacquire
ViP Concept #9
ViP Concept #11
ViP Concept #6
11
ViP Concept #3
ViP Concept #12
1
2
Suspects
12
ViP Concept #1
ViP Concept #2
Prospects
Considered critical elements of any CMS email elements
Customers
Active Customers
Best Customers
Recapture
One Day Workshop Approach
Step #1: Map the Selling Process to the Buying
Decision Journey
Step #2: Identify the “Value in Play” Event
Likelihood of Behavior
Moving Toward Action (time M to Y)
Moving Away from Action (time M to Y)
Step #3: Build 1 Program to Protect the “Value in
Play”
Step #4: Forecast the Expected ROI
2009: Conventional Wisdom Watch for Marketers
Marketing in 2009 requires nothing short of a dazzling display of competence and creativity, and plan to build
on early successes that lay a foundation for a multi-channel future. Here’s what’s in and what’s not:
Accountability
Bigger than simple ROI, this is a sub-set of a broader cultural shift that even your
customers are aware of, and expect of you. Waste, in case you haven’t noticed,
is very much out of style.
Search
Someone should tell these guys that we’re in a recession, because their forecasts
seem like they live in a different economy.
Email Acquisition
(Blast)
Rest assured that ISPs are working day and night to find a way to NOT deliver
your unsolicited email to your recipients In-Box.
Opt-In Email
Alive and well (thank you very much) and despite its growing pains commercial
email done right is maturing and proving an effective and efficient channel.
Channel
Integration
As marketing budgets shrink, emphasis will continue to be placed on the
migration to lower cost channels, and without integration and coordination the
customer will never follow the path.
Social Media for
Direct Marketing
Take a look at some of the best known brands in marketing. Jcrew has 627
facebook followers. The Kogi Korean barbecue truck has 3000. Go figure. Social
is about intimacy and not brand.