SlideShare une entreprise Scribd logo
1  sur  4
Télécharger pour lire hors ligne
Five Truths in Building an Effective Digital
Powering Out of the Curve                                      Marketing and e-commerce Strategy


   Business Services          >>         Industrial Products   >>    Healthcare     >>    Technology      >>    Financial Services


                                                   Consumer companies are fighting to grow profitable revenue in fields that are foreign to many
Blue Ridge Partners is the                         of their senior executives. Ever changing customer-facing technologies - web, mobile or social
most experienced, impactful                        based - and an emerging, broadening set of competitors have quickly become mainstream
and respected firm exclusively                     agenda items in the boardroom.
focused on helping companies                       These companies are confronted with the additional challenge of redefining their customer.
improve the performance of                         Are their customers the “Big Box retailers” where they have enjoyed revenue growth and pre-
their “revenue engine”.                            dictability in the past? Are they the up-and-coming “online retailers” with the highest recent
                                                   sales growth rates? Is it the end consumer who chooses to buy direct from the consumer
                                                   website or mobile app? Or is it a complex combination of all three?
Locations:
                                                   How can consumer companies manage the inherent conflict that exists between digital and
   •	 Boston
                                                   e-commerce technologies and more traditional channels? Where should they place their bets
   •	 Chicago                                      and with what mix? What is the optimal pricing strategy across these different channels? There
   •	 Dallas                                       is a lot at stake and the available expense and capital for digital marketing and e-commerce
   •	 Denver                                       has been scarce.
   •	 London




                                                  M
   •	 New York                                     Five Truths
   •	 San Francisco                                In our work with companycompanies we have identified five truths related to digital market-
                                                               ost consumer leadership teams spent the last several years
   •	 Washington, DC                               ing and e-commerce: into the curve”—cutting costs, streamlining
                                                               “braking
                                                               operations, conserving cash and managing their credit
                                                  facilities. The brakefundamentally changedfor this portionpurchase journey and buy-
                                                   1.	 Technology has was the proper pedal the consumer’s of the track.
                                                       ing behavior. At each stage of the Consumer Purchase Journey numerous online and
                                                  But how should leadership teams maneuver how consumers the apex
                                                       offline “touch points” come into play affecting as they reach browse, evaluate, compare
                                                       and buy products online. Technology has enabled rapid and efficient engagement with
                                                  of the curve—the critical point at which braking is no longer the right
                                                       brands like never before.
                                                  technique and gears need to be shifted to increase speed and power out
                                                       •	 Digital touch points can be a brand’s friend or foe. They need to be introduced to
                                                  of the curve?
                                                           consumers as a component of the overall go-to-market strategy and not in isola-
                                                           tion.
                                                  essential. If you let up on the brake too soon, you might still hit the wall.
                                                  If you let up too late, competitors will pass be “valued” and measured for the impact
                                                       •	 Additionally, the touch points need to you.
                                                            each has at each stage of the path to purchase leading to increased online revenue
                                                  But more troubling– brand awareness, customer acquisition, and conversion.
                                                           growth. e.g. than the question of timing is whether your revenue
                                                  engine will respond and stages of the Consumer Purchase Journey can create a significant
                                                       •	 Touch points when you round the corner and try to accelerate.
                                                           competitive advantage as part of an omni-channel strategy across all media types
                                                  If your engine sputters, top-line growth will be sluggish, market
                                                           and points of purchase.
                                                  share will be lost to better prepared competitors and investors will be
                                                  disappointed. Ps” of traditional marketing (people, price, product, promotion, placement,
                                                       •	 The “7
                                                            process, physical environment) are still applicable but digital marketing and e-
                    HEADQUARTERS                            commerce adds a new and broader set of considerations.
          1350 Beverly Road, Suite 115            Companies should begin now to determine how their revenue engine
               McLean, Virginia 22101             may•	 Consumers consider and evaluate productswill require precious
                                                       respond. Improvements and adjustments based on “Likes”, “Tweets”, blog post-
                                                           ings, web advertisements, etc. They then purchase, provide feedback, exhibit
                      INFORMATION                 time to complete. The next pages provide insights to help you
                                                           loyalty, and advocate for a brand through similar channels.
          www.blueridgepartners.com               ensure your revenue engine responds when your time comes for
          info@blueridgepartners.com                  •	 Digital Marketing allows consumer companies to build brand awareness and eq-
                 phone 703-448-1881
                                                  powering out of the curve. of the consumer purchase journey and e-commerce allows
                                                           uity at the early stages
                                                            these companies to acquire customers and earn loyalty at the later stages.
Some Revenue Engines Were Weak Even
                                   Consumer Purchase Journey Worse, Your Customers Have
                                                To Make Things
        Before the “Braking” Began              Likely Changed in the Last 12 Months
        Old weaknesses in your revenue engine didn’t get fixed    It seems reasonable to assumeExhibit customers
                                                                               Provide            that your
        during the slowdown. These weaknesses are hibernatingPurchase differently than they did a year ago. Their Advocate
                              Consider           Evaluate         think       Feedback            Loyalty         world has
        and waiting to become failure points when your revenue    changed dramatically, just like yours. When you try to
                                   Digital Marketing:                               e-Commerce:
        engine starts to rev up again. awareness and equity
                           Build brand
                                       Here are a few examples we power out of the curve, you need to understand what’s
                                                                       Consumer acquisition, conversion, loyalty
        have seen recently:                                       the same and what’s different in your primary customer
         Search            • Keywords • Search rank • Clicks
        u Sales and marketing believe they know why they win/     markets.
               lose but their beliefs are inconsistent with what new           u Are all customers more price sensitive or just certain
             Display         • Impressions • Clicks • Conversion
               customers and lost prospects tell us                                segments?
                           • Likes • Tweets • Blog Posts
        uSocial
          The sales force sells features(name/contact) not business
                            • Prospects
                                         and functions                         u Have buying preferences and decision factors
                                                                                                • Likes • Tweets • Blog Posts
               solutions and business value (ROI)                                  changed? Are customers expecting a different value
         Mobile       • Impressions • Clicks • Conversion
        u Customer segmentation is very rudimentary and                            proposition?Conversion Rate • Messages
                                                                                       • Sales •

               therefore not helpful in optimizing resource allocation
                               • Impressions • Read • Clicks                   u Have buying decisions for your products/services been
             E-Mail                    • Conversion
                                                                                       • Messages
               or making the best pricing decisions                                elevated to a more senior buyer within your customer’s
        u Websales pipeline is full of oldPage views •low probability
          The         • Unique visitors • leads and Time                           organization?
                                                                                       • Sales • Conversion Rate • Messages
               leads—the pipeline is unusable for revenue forecasting          u Has the ROI horizon contracted?
              Print                    • Impressions
               or evaluating the true condition of customer demand             u Do customers have a different willingness to spend or
                                                                                                       Legend:
       u The bottom 25%Impressions •forceolacksathe skill, the
       Direct Mail
                      • of the sales Resp nse r te                                 different investment agenda?
                                        • Conversion
               will or both to be successful                                                      On-line Media
                                                                               u Has the perception of your company • Sample Metrics
                                                                                                                    changed?
        Broadcast partners are not adequately supported with
        u Channel               • Impressions                                      The perception of Traditional Media
                                                                                                     competitors?           • Sample Metrics
               tools and messaging to optimize their performance               u Have competitors changed their messages, tactics,
     Proprietary and Confidential                                                  products, pricing? Is this resonating with customers?          1


2.      Former concepts of customer definition, segmentation, targeting, conversion, a company tell if its revenue longer suf-
                                                                       So, how can customer service and loyalty are no
        ficient. Previous methods of gathering consumer and market data and insights do not provide the factual depth and timing required
        to respond to changing demand and/or shopping behavior.
                                                                       engine is ready to go when the time comes to
                                                                               power out of the curve?
        •      Consumer demographics, personas, price sensitivities and channel preferences need to be understood to effectively target con-
               sumers for specific categories and products.                 Based on our work with nearly 200 companies,
                                                                            Blue Ridge Partners has prepared the following checklist
        •	     Monitoring	and	responding	to	social	conversations	and	postings	is	critical	to	developing,	growing	and	maintaining	brand	equity.
                                                                            for making sure you are ready.
        •	     Forecasting	online	growth	must	be	thought	of	in	terms	of	online	addressable	market	size,	segmentation,	cost	and	time	to	acquire	
               new consumers, trends and competitive threats.
        •	     Consumer	companies	need	to	develop	actionable	insights	about	their	target	market	in	a	rigorous	and	ongoing	way	to	effectively	
               keep their hand on the pulse of changing consumer trends and behavior

3.      Many consumer companies have transformed themselves from straightforward B2B business models to a much more complex
        B2B and B2C combination. This change has also opened up more complex channel relationships requiring different financial and
        incentive arrangements than earlier models.
        •	     Consumer	companies	now	have	the	potential	to	sell	not	only	through	traditional	distributors	but	also	directly	to	consumers,	but	
               they struggle to create online scale and manage channel conflict.
        •	     New	omni-channel	marketing	models	offer	a	huge	opportunity	to	create	an	end-to-end	consumer	experience.	Integrating	invest-
               ments across offline and online media can improve efficiency of spend, conversion rates and consumer loyalty.
        •	     Retailers	are	threatened	by	brands	and	e-tailers	going	direct	to	consumers.	e-tailers	have	significant	on-line	scale	and	an	ability	to	
               leverage analytic capabilities to mine consumer data for better targeting.
        •	     Competition	is	no	longer	limited	by	geography	thereby	creating	margin	pressure.
Digital enables, for the first time, closed loop
               analytics and rapid, the first time, closed loop
                Digital enables, for response-driven adjustments
         Marketers are accelerating the use of marketing analytics to allocate media investments
                analytics and rapid, response-driven adjustments
     Some Revenue Engines Were Weak Even based To Make Things Worse, Your Customers Have
          across traditional and digital channels                upon each channel’s demonstrated ability
     Before the “Braking” Began
       to influence consumer decision-making at each stage Changed in the
                   Marketers are accelerating the use of marketing analytics to allocate mediaLast 12 Months
                                                                Likelyalong the Consumer Purchase Journey.
                                                                                               investments
                        across traditional and digital channels based upon each channelÕ s demonstrated ability to
     Old weaknessesinfluence consumer decision-making at each stage along the Consumer Purchase Journey
                        in your revenue engine didn’t get fixed It seems reasonable to assume that your customers
     during the slowdown. These weaknesses are hibernating      think differentlyConsumers did a year ago. Their world has
                                                                                    than they
                                                                               Target Consumers
                   Analyze Results                                             • Who are my best consumers?
                                                                            Target
     and waiting to become failure points when your revenue
                   •  Closed loop marketing                     changed dramatically,best consumers? When you try to
                                                                            •  Who are my Ijust more yours. like them?
                                                                                                like
                                                                               • Where do nd          consumers
     engine starts to rev uptoagain. Here are a few examples we
                Analyze Results measure
                      analytics                                 power out •  Wherecurve, you need to understand what’s
                                                                            of•the do I Ifind more consumers like them?
                                                                                  How do reach them?
                • Closed loop against
                      performance
     have seen recently: marketing                                          •  How do I reach
                                                                the same and what’s they them? in your primary customer
                                                                                          different
                      objectives                                               • How they respond?
                                                                            •  How do do respond?
                  analytics to measure
                   •  How manyagainst Who?
                                 leads?
     u Sales andperformance believe they know why they win/
                   marketing                                                   • What are the best channels / methods /
                                                                markets. •  What are the best channels / methods /
                      Which channels?
                   objectives                                                                                                  messages to to drive the desired behavior?
                                                                                                                                 messages drive the desired behavior?
                  •  How many are inconsistent with what new ConsumersAre all customers more price sensitive or just certain
       lose but their beliefscustomers?                                   u
                                                               Target Consumers
                                                                Target
              • How many leads? Who?
                     Who? What did they
       customers and lost prospects tell us
                 Which channels? did they
                     purchase? How
                                                                              segments?
                                                                                                   Plan Campaign
                                                                                               Plan Campaign
              • How many customers? Who? functions not business u Have buying preferences and decision factors
                     purchase? How much did
     u The sales force spend?
                           sells features and
                                                     The image cannot be displayed.


                                                                                                   • What my desired,
                                                                                               •  What are are my desired, measurable
                                                     Your computer may not have
                                                     enough memory to open the image,

                     they
                 What did they purchase?
                                                     or the image may have been
                                                     corrupted. Restart your computer,



       solutionsHow didmanypurchase? (ROI)
                  and business value                                          changed? Are customers objectives for thedifferent value
                                                                                                  measurable expecting a
                                                                                                      objectives for the campaign?
                                                     and then open the file again. If the


                  •  How they customers
                                                     red x still appears, you may have to
                                                     delete the image and then insert it
                                                     again.



                     repurchased? Which
                 How much did they spend?      AnalyzeResults
                                              Analyze  Results                                     • How do
                                                                                                  campaign? I best achieve these
                                                                              proposition? •  How do I best achieve these
                                                                               Plan Campaign
     u Customer segmentationmuch did rudimentary and                             Plan Campaign
              • How many customer is very
                     customers? How                                                                   objectives?
                                                                                                  objectives?
                     they spend? How much
       thereforerepurchased? Whichoptimizing resource allocation
                  not helpfulmade from
                     profit have I
                                   in                                     u Have buying decisions for your products/services been
       or making the customer?muchdid
                 customers? How much
                     this best pricing decisions
                 they spend? How
                                                                              elevated to a more senior buyer within your customer’s
                  •  t have I made from on
                 proWhat was my return old leads and low probability
                                        this                                  organization?
                                                                                 Execute Campaign
     u The sales pipeline is full of
                      marketing investment?                                                                       •    Deliver campaign messages / offers to
                   customer?                                                                Execute Campaign
                 • What was my is unusable for revenue forecasting u Has thetargeted consumers
      leads—the pipelinereturn on                          Execute Campaign       the ROI horizon contracted?
      or evaluating the true condition of customer demand Campaign Do customers have a different willingness to spend or
                    marketing investment?                   Execute
                                                                         u
                                                            • Deliver campaign messages / o ers to the
4. FewThe bottom capturethe sales force lacks the skill,the level of detail and frequency toagenda? real-time “campaign level”
    u companies 25% of online performance data at the                        different investment allow near
                                                              targeted consumers
                  Proprietary and Confidential                                                                               2
   course correctionsbe maximize ROI.
      will or both to Confidential
              Proprietary and  to successful                             u Has the perception of your company changed?           2

   •u Channel partners are not adequately supported with to understanding onlineof competitors? profitability. This would
       Capturing the right data at the right frequency is essential          The perception performance and
       include: marketing costs, customer acquisition and conversionu Have competitors changed their messages, tactics, time on
      tools and messaging to optimize their performance                  costs and rates, repeat buy/loyalty, site visits, page views,
       site, purchase frequency, online reviews/consumer sentiment, margin, etc.
                                                                             products, pricing? Is this resonating with customers?
   •	 To	maximize	revenue	growth	and	profitability	consumer	companies	will	need	to	draw	insights	from	performance	data	through	
       best-in-class tools, data capture strategies, and comprehensive analytics at speeds never before attempted.
                                                                                                        So, how can a company tell if its revenue
     •	  Digital	marketing	data	capture	strategy	enables	closed	loop	analytics	and	quick,	response-driven	adjustments	for	the	first	time.	
                                                                         engine is ready to go when the time comes to
         Delivery	of	actionable	insights	to	key	decision	makers	in	a	rapid	and	ongoing	process	can	mean	the	difference	between	efficient	
         online growth and costly stagnation                             power out of the curve?
                                                                         Based on our work with nearly 200 companies,
5.   Dramatically different skills, organizational models and partnerships are essential has prepared the following checklist
                                                                         Blue Ridge Partners to grow profitably in the digital market-
     place.                                                              for making sure you are ready.
     •    Successful e-commerce businesses manage change quickly and make innovation a priority. The profile of team members who can
          thrive in this environment needs to be clearly understood and nurtured.
     •	   Making	good	in-house	versus	outsourcing	decisions	can	significantly	affect	revenue	and	profitability.	Deciding	what	skills	are	
          required in-house, where they can be sourced and how they should be developed is a critical component of any online business
          sourcing strategy.
     •	   Collaboration	with	channel	partners	to	achieve	synergistic	and	risk-mitigated	growth	is	key.	Leveraging	partners	strengths	and	
          resources	can	be	a	cost	effective	way	to	drive	innovation	and	differentiation	for	both	organizations	and	mitigate	risk.	


Our Approach
Each of these interrelated truths represents a challenge to consumer leaders. Our approach to helping clients meet these challenges
                    Digital Growth Roadmap:
involves fact gathering, analysis and insights to answer questions is a series of six steps, each building on answers from previous steps, to
                    How do we help our clients grow online share?
develop new competitive models for digital marketing and e-commerce that drive accelerated revenue growth.


                        Diagnose               Identify                                     Develop      Define Priorities                 Plan            Define Success
                      Performance &           Customer                                       Digital       & Funding                  Implementation        Measures &
                        Benchmark             Segments                                      Strategy         Sources                  & Org. Training       Key Metrics


                    How is my           Who are my                         What strategy should I       How will I fund this      How should I be       How do I measure
                    organization        consumers?                         employ, channels and         path to achieve           organized and what    success?
                    performing in the   •  Demographics?                   tools should I use,          maximum results?          skills do I need to   •  Yearly, quarterly,
Increasing Revenuecritical questions in at Over 150 Hotels (cont.)
We help our clients answer Performance each of the six steps including:

   Diagnose Company Performance and Benchmark Against Competition –
Tools we the company performing in the digital marketplace today?
    How is used to improve their revenue growth
        •	 Relative	to	overall	market	share?                                  •	 Growth?	
u	 Behaviors of High Performing Revenue En-
   100                                                     u Nine Voices of the Market™ to gather data on
        •	 Relative	to	competition?	                                          •	 Profitability?	
   gines™ as the basis for measuring sales perfor-             actual sales personnel performance
        •	 Quantitatively?		                                                  •	 Consumer	experience?	
   mance and identifying gaps between current and
        •	 performance (see below)
             Qualitatively?                                u Comparative•	 Loyalty?	 charts to motivate
                                                                               performance
   desired
        	                                                      improved performance (see below)
u Performance standards and benchmarks to evalu-
   Identify Customer Segments –                           u Periodic reports to track performance trends
   ate absolute and relative performance within and
    Who are the customers and what are their values?           over time
   across properties and brands
        •	 Demographics?	                                                     •	 How	do	they	consume	content?	
        •	 Likes	and	dislikes?	                                               •	 Shopping	vs.	buying?	
        •	 Households?	                                                       •	 Across	brands?	Online	vs.	mobile	vs.	social?	
Brand operator performance report
        •	 Personas?	                                                         •	 Are	they	loyal?	
                                                                              •	 What	is	their	price	sensitivity	
 Develop a Digital Strategy –
    What are the possible scenarios to evaluate – channels and tools to use: partners to arrange; etc.?
                                                                                                Selling the property
                Being available and




        •	 How	can	the	scenarios	be	“pressure	tested”	for	significance,	attainability	and	risk?	




                                                                                                                                         Providing a quality
                                      Handling schedule




                                                                             prospect’s needs
                                                          Handling pricing




                                                                                                                       Making the sale
        •	 How	fast	can,	and	should,	the	company	proceed?	




                                                                                                                                                               on outstanding
                                                                             Undesrtanding
                professionally




                                                                                                                                                               Following up
        •	 How	can	the	company	message	and	address	potential	channel	conflict	and	threats	with	existing	distributors/partners?		
                responding




                                                          objections




                                                                                                                                                               proposals
                                                                                                                                         proposal
                                      conflicts




    How will the strategy change over time as the addressable consumer base grows?

      Determine Priorities and Funding Sources –
    Brand 1will the company fund this path to achieve maximum results?
       How
    Brand 2 Offline	ad	spend?
           •	
    Brand 3 Optimize	Trade	spend?
           •	
    Brand 4 Co-op	dollars	from	partners	to	fund	innovation	that	benefits	both	parties?	
           •	

Brand 5
 Plan for Implementation and Organizational Training –
	  How	should	the	company	be	organized	relative	to	digital	marketing	and	e-commerce	and	what	skills	are	needed	to	maximize	perfor-
   mance?            Below Expectations                  Meets or Exceeds Expectations
      •	 Which	should	be	in-house	and	what	should	be	outsourced?	
      •	 How	relevant	are	the	skills	in	house	today?
      •	 Who	and	how	should	the	company	hold	people/partners	accountable?	
Examples of poor performance we identified
 Only 28% of properties were Model Performers
u	Define Measures of Success and Key Metrics –             u	 Only 50% of the properties developed acceptable
  and 32% Iwere verysuccess? expectations
   How do measure far below                                   proposals
u	 25% ofBy	media,	brand,	division,	category,	path	to	purchase,	campaign?	
  At •	     properties, it was difficult to even make      u	  50% of the properties failed to satisfactorily
       •	 By	customer	acquisition,	traffic,	page	views,	conversion,	loyalty,	consumer	sentiment,	margin,	abandoned	carts,	referral	rates,	cost	
  contact with a Group Sales representative                   follow-up on outstanding proposals - i.e., failed
           of	acquisition,	cost	of	conversion?	
                                                              to make a follow up phone call to the prospective
u	50% of properties did not adequately handle pric-
       •	 When	should	data	be	captured	(annually,	quarterly,	monthly,	daily)	to	facilitate	prompt	action?
                                                              customer
  ing objections
By following our six step approach, we help clients identify pragmatic approaches and plans and then build world-class digital marketing
and e-commerce operations to drive profitable revenue growth.

If you aren’t seeing superior growth inlike assistance in successfully meeting the challenges of this
               Contact us if you would profitable revenue, contact us for an actionable
evaluation of your company’s revenue engine.
                                  dynamic marketing and selling environment.



1350 Beverly Road, Suite 115 • McLean, Virginia 22101 • www.blueridgepartners.com • info@blueridgepartners.com • phone 703-448-1881

Contenu connexe

Tendances

Driving Innovation Through The Private Brand Organization
Driving Innovation Through The Private Brand OrganizationDriving Innovation Through The Private Brand Organization
Driving Innovation Through The Private Brand OrganizationSertus, LLC
 
Integrate Media Kit
Integrate Media KitIntegrate Media Kit
Integrate Media Kitbfultz
 
Web Strategy for Retail
Web Strategy for RetailWeb Strategy for Retail
Web Strategy for RetailIntergen
 
Death of a Brochure
Death of a BrochureDeath of a Brochure
Death of a BrochureMediaSauce
 
Marketing Track at Impact 2011
Marketing Track at Impact 2011Marketing Track at Impact 2011
Marketing Track at Impact 2011Ryan Boyles
 
Why CRM is the new ERP
Why CRM is the new ERPWhy CRM is the new ERP
Why CRM is the new ERPRaymark
 
Mike chuma bma mn 9 august 2012
Mike chuma bma mn 9 august 2012Mike chuma bma mn 9 august 2012
Mike chuma bma mn 9 august 2012Mike Chuma
 
IBM Spotlight Session: Social Selling as a B2B Prospecting Tool
IBM Spotlight Session: Social Selling as a B2B Prospecting ToolIBM Spotlight Session: Social Selling as a B2B Prospecting Tool
IBM Spotlight Session: Social Selling as a B2B Prospecting ToolVivastream
 
IBM Spotlight Session: Social Selling as a B2B Prospecting Tool
IBM Spotlight Session: Social Selling as a B2B Prospecting ToolIBM Spotlight Session: Social Selling as a B2B Prospecting Tool
IBM Spotlight Session: Social Selling as a B2B Prospecting ToolVivastream
 
The Big Questions of 2013
The Big Questions of 2013The Big Questions of 2013
The Big Questions of 2013Vivastream
 
The Big Questions of 2013
The Big Questions of 2013The Big Questions of 2013
The Big Questions of 2013Vivastream
 
Customer-Centric Retailing in Today's Cross-Channel World
Customer-Centric Retailing in Today's Cross-Channel WorldCustomer-Centric Retailing in Today's Cross-Channel World
Customer-Centric Retailing in Today's Cross-Channel WorldRaymark
 
From Social Media to Social CRM, IBM Institute for Business Value
From Social Media to Social CRM, IBM Institute for Business ValueFrom Social Media to Social CRM, IBM Institute for Business Value
From Social Media to Social CRM, IBM Institute for Business ValueIBM Danmark
 
Content Marketing Battle Cry: Let's Declare War on Collateral!
Content Marketing Battle Cry: Let's Declare War on Collateral!Content Marketing Battle Cry: Let's Declare War on Collateral!
Content Marketing Battle Cry: Let's Declare War on Collateral!Yesler
 
Accenture: Multichannel Attribution Dec 2012
Accenture:  Multichannel Attribution Dec 2012Accenture:  Multichannel Attribution Dec 2012
Accenture: Multichannel Attribution Dec 2012Brian Crotty
 
Traffic Intelligence - The Science Of Shopper Conversion
Traffic Intelligence - The Science Of Shopper ConversionTraffic Intelligence - The Science Of Shopper Conversion
Traffic Intelligence - The Science Of Shopper ConversionTyco Retail Solutions
 

Tendances (20)

Ibm social commerce_whitepaper
Ibm social commerce_whitepaperIbm social commerce_whitepaper
Ibm social commerce_whitepaper
 
Driving Innovation Through The Private Brand Organization
Driving Innovation Through The Private Brand OrganizationDriving Innovation Through The Private Brand Organization
Driving Innovation Through The Private Brand Organization
 
Integrate Media Kit
Integrate Media KitIntegrate Media Kit
Integrate Media Kit
 
Web Strategy for Retail
Web Strategy for RetailWeb Strategy for Retail
Web Strategy for Retail
 
Multichannel Customer Journeys
Multichannel Customer JourneysMultichannel Customer Journeys
Multichannel Customer Journeys
 
Death of a Brochure
Death of a BrochureDeath of a Brochure
Death of a Brochure
 
Oracle social crm technology
Oracle social crm technologyOracle social crm technology
Oracle social crm technology
 
Marketing Track at Impact 2011
Marketing Track at Impact 2011Marketing Track at Impact 2011
Marketing Track at Impact 2011
 
Why CRM is the new ERP
Why CRM is the new ERPWhy CRM is the new ERP
Why CRM is the new ERP
 
Mike chuma bma mn 9 august 2012
Mike chuma bma mn 9 august 2012Mike chuma bma mn 9 august 2012
Mike chuma bma mn 9 august 2012
 
IBM Spotlight Session: Social Selling as a B2B Prospecting Tool
IBM Spotlight Session: Social Selling as a B2B Prospecting ToolIBM Spotlight Session: Social Selling as a B2B Prospecting Tool
IBM Spotlight Session: Social Selling as a B2B Prospecting Tool
 
IBM Spotlight Session: Social Selling as a B2B Prospecting Tool
IBM Spotlight Session: Social Selling as a B2B Prospecting ToolIBM Spotlight Session: Social Selling as a B2B Prospecting Tool
IBM Spotlight Session: Social Selling as a B2B Prospecting Tool
 
The Big Questions of 2013
The Big Questions of 2013The Big Questions of 2013
The Big Questions of 2013
 
The Big Questions of 2013
The Big Questions of 2013The Big Questions of 2013
The Big Questions of 2013
 
Executive Summary
Executive SummaryExecutive Summary
Executive Summary
 
Customer-Centric Retailing in Today's Cross-Channel World
Customer-Centric Retailing in Today's Cross-Channel WorldCustomer-Centric Retailing in Today's Cross-Channel World
Customer-Centric Retailing in Today's Cross-Channel World
 
From Social Media to Social CRM, IBM Institute for Business Value
From Social Media to Social CRM, IBM Institute for Business ValueFrom Social Media to Social CRM, IBM Institute for Business Value
From Social Media to Social CRM, IBM Institute for Business Value
 
Content Marketing Battle Cry: Let's Declare War on Collateral!
Content Marketing Battle Cry: Let's Declare War on Collateral!Content Marketing Battle Cry: Let's Declare War on Collateral!
Content Marketing Battle Cry: Let's Declare War on Collateral!
 
Accenture: Multichannel Attribution Dec 2012
Accenture:  Multichannel Attribution Dec 2012Accenture:  Multichannel Attribution Dec 2012
Accenture: Multichannel Attribution Dec 2012
 
Traffic Intelligence - The Science Of Shopper Conversion
Traffic Intelligence - The Science Of Shopper ConversionTraffic Intelligence - The Science Of Shopper Conversion
Traffic Intelligence - The Science Of Shopper Conversion
 

En vedette

Presentación Corporativa Grupo SIFU
Presentación Corporativa Grupo SIFUPresentación Corporativa Grupo SIFU
Presentación Corporativa Grupo SIFUgruposifu
 
Sg conference multiplatform_apps_adam_stanley
Sg conference multiplatform_apps_adam_stanleySg conference multiplatform_apps_adam_stanley
Sg conference multiplatform_apps_adam_stanleyn_adam_stanley
 
The University of Santa Barbara
The University of Santa BarbaraThe University of Santa Barbara
The University of Santa BarbaraLouis Tapia
 
Mv lv catalogue-tnhh kimxuan
Mv lv catalogue-tnhh kimxuanMv lv catalogue-tnhh kimxuan
Mv lv catalogue-tnhh kimxuanNgan TNHH
 
Enterprise resource Planning
Enterprise resource PlanningEnterprise resource Planning
Enterprise resource Planningmansoorgombe
 
04 especialidades actividades misioneras y comunitarias (48) 2013
04 especialidades actividades misioneras y comunitarias (48) 201304 especialidades actividades misioneras y comunitarias (48) 2013
04 especialidades actividades misioneras y comunitarias (48) 2013Morizao
 
Canço de les bananes
Canço de les bananesCanço de les bananes
Canço de les bananesToñy S.
 
Institucion educativa privada andres avelino caseres dorregaray
Institucion educativa  privada andres avelino caseres dorregarayInstitucion educativa  privada andres avelino caseres dorregaray
Institucion educativa privada andres avelino caseres dorregarayMadelyn Alvarez Ñaupa
 
TABB Architecture - Selected Projects - 2013
TABB Architecture - Selected Projects - 2013TABB Architecture - Selected Projects - 2013
TABB Architecture - Selected Projects - 2013Bernardo Bieri
 
Mele Scrum
Mele ScrumMele Scrum
Mele Scrumfcmart
 
TAG Business Launch Suite of Service Provider Directory
TAG Business Launch Suite of Service Provider DirectoryTAG Business Launch Suite of Service Provider Directory
TAG Business Launch Suite of Service Provider Directoryjobo2204
 
Texto final del reglamento modificatorio 2015 pdf
Texto final del reglamento modificatorio 2015 pdfTexto final del reglamento modificatorio 2015 pdf
Texto final del reglamento modificatorio 2015 pdfJohn Barrera
 
Employees as brand advocates in the social media sphere - Social Media Week C...
Employees as brand advocates in the social media sphere - Social Media Week C...Employees as brand advocates in the social media sphere - Social Media Week C...
Employees as brand advocates in the social media sphere - Social Media Week C...Kasper Risbjerg
 
Manual de convivencia sta rita definitivo
Manual de convivencia sta rita definitivoManual de convivencia sta rita definitivo
Manual de convivencia sta rita definitivoSolucion Social
 

En vedette (20)

Guia google docs
Guia google docsGuia google docs
Guia google docs
 
Presentación Corporativa Join Forces 2015
Presentación Corporativa Join Forces 2015Presentación Corporativa Join Forces 2015
Presentación Corporativa Join Forces 2015
 
Presentación Corporativa Grupo SIFU
Presentación Corporativa Grupo SIFUPresentación Corporativa Grupo SIFU
Presentación Corporativa Grupo SIFU
 
Sg conference multiplatform_apps_adam_stanley
Sg conference multiplatform_apps_adam_stanleySg conference multiplatform_apps_adam_stanley
Sg conference multiplatform_apps_adam_stanley
 
The University of Santa Barbara
The University of Santa BarbaraThe University of Santa Barbara
The University of Santa Barbara
 
dkkina104_OK
dkkina104_OKdkkina104_OK
dkkina104_OK
 
Mv lv catalogue-tnhh kimxuan
Mv lv catalogue-tnhh kimxuanMv lv catalogue-tnhh kimxuan
Mv lv catalogue-tnhh kimxuan
 
Enterprise resource Planning
Enterprise resource PlanningEnterprise resource Planning
Enterprise resource Planning
 
04 especialidades actividades misioneras y comunitarias (48) 2013
04 especialidades actividades misioneras y comunitarias (48) 201304 especialidades actividades misioneras y comunitarias (48) 2013
04 especialidades actividades misioneras y comunitarias (48) 2013
 
Canço de les bananes
Canço de les bananesCanço de les bananes
Canço de les bananes
 
Institucion educativa privada andres avelino caseres dorregaray
Institucion educativa  privada andres avelino caseres dorregarayInstitucion educativa  privada andres avelino caseres dorregaray
Institucion educativa privada andres avelino caseres dorregaray
 
TABB Architecture - Selected Projects - 2013
TABB Architecture - Selected Projects - 2013TABB Architecture - Selected Projects - 2013
TABB Architecture - Selected Projects - 2013
 
Mele Scrum
Mele ScrumMele Scrum
Mele Scrum
 
TAG Business Launch Suite of Service Provider Directory
TAG Business Launch Suite of Service Provider DirectoryTAG Business Launch Suite of Service Provider Directory
TAG Business Launch Suite of Service Provider Directory
 
Navarro c 201505_modelacion_climatica_cc_agricultura_upra
Navarro c 201505_modelacion_climatica_cc_agricultura_upraNavarro c 201505_modelacion_climatica_cc_agricultura_upra
Navarro c 201505_modelacion_climatica_cc_agricultura_upra
 
Mpi poland 2012
Mpi poland 2012Mpi poland 2012
Mpi poland 2012
 
Texto final del reglamento modificatorio 2015 pdf
Texto final del reglamento modificatorio 2015 pdfTexto final del reglamento modificatorio 2015 pdf
Texto final del reglamento modificatorio 2015 pdf
 
Employees as brand advocates in the social media sphere - Social Media Week C...
Employees as brand advocates in the social media sphere - Social Media Week C...Employees as brand advocates in the social media sphere - Social Media Week C...
Employees as brand advocates in the social media sphere - Social Media Week C...
 
Manual de convivencia sta rita definitivo
Manual de convivencia sta rita definitivoManual de convivencia sta rita definitivo
Manual de convivencia sta rita definitivo
 
Analysis of Kerrang
Analysis of KerrangAnalysis of Kerrang
Analysis of Kerrang
 

Similaire à Five Truths In Building An Effective Digital Marketing And E Commerce Strategy

Capturing intelligence while managing relationships
Capturing intelligence while managing relationshipsCapturing intelligence while managing relationships
Capturing intelligence while managing relationshipsIntergen
 
Bank 2.0 - The big shift
Bank 2.0 - The big shiftBank 2.0 - The big shift
Bank 2.0 - The big shiftPeter Mũya H
 
Accenture: ACN-interactive-pov-multichannel-attribution Feb 2013
Accenture: ACN-interactive-pov-multichannel-attribution Feb 2013Accenture: ACN-interactive-pov-multichannel-attribution Feb 2013
Accenture: ACN-interactive-pov-multichannel-attribution Feb 2013Brian Crotty
 
XaaSalerator overview for web
XaaSalerator overview for webXaaSalerator overview for web
XaaSalerator overview for webTransformanz
 
The Online Insurance Imperative: Driving Growth by Expanding Your Online Pres...
The Online Insurance Imperative: Driving Growth by Expanding Your Online Pres...The Online Insurance Imperative: Driving Growth by Expanding Your Online Pres...
The Online Insurance Imperative: Driving Growth by Expanding Your Online Pres...David S. Lipien, PMP, MCP
 
Smartare kunder kräver smartare affärer
Smartare kunder kräver smartare affärerSmartare kunder kräver smartare affärer
Smartare kunder kräver smartare affärerIBM Sverige
 
Accenture monetizing-personal-touch
Accenture monetizing-personal-touchAccenture monetizing-personal-touch
Accenture monetizing-personal-touchruttens.com
 
Contextual Commerce: Best Practices for Winning with Customer Experience with...
Contextual Commerce: Best Practices for Winning with Customer Experience with...Contextual Commerce: Best Practices for Winning with Customer Experience with...
Contextual Commerce: Best Practices for Winning with Customer Experience with...edynamic
 
Digital Disruption in Distribution and Manufacturing: How to Be a B2B Leader
Digital Disruption in Distribution and Manufacturing: How to Be a B2B LeaderDigital Disruption in Distribution and Manufacturing: How to Be a B2B Leader
Digital Disruption in Distribution and Manufacturing: How to Be a B2B LeaderPerficient, Inc.
 
The Number One Digital Challenge Facing B2B Today
The Number One Digital Challenge Facing B2B TodayThe Number One Digital Challenge Facing B2B Today
The Number One Digital Challenge Facing B2B TodayImran Choudhary
 
How Technology Influences Marketing
How Technology Influences MarketingHow Technology Influences Marketing
How Technology Influences MarketingAnnusha Sarah
 
ECOMMERCE INTEGRATION - Tips to try and traps to avoid for a successful integ...
ECOMMERCE INTEGRATION - Tips to try and traps to avoid for a successful integ...ECOMMERCE INTEGRATION - Tips to try and traps to avoid for a successful integ...
ECOMMERCE INTEGRATION - Tips to try and traps to avoid for a successful integ...Petrica Dan Ragalie
 
Keynote Microsoft Dynamics CRM | David Brown, Microsoft
Keynote Microsoft Dynamics CRM | David Brown, MicrosoftKeynote Microsoft Dynamics CRM | David Brown, Microsoft
Keynote Microsoft Dynamics CRM | David Brown, MicrosoftExploreDynCRM
 
Managing the Virtual Dealership. Customer Experience is Everything.
Managing the Virtual Dealership. Customer Experience is Everything.Managing the Virtual Dealership. Customer Experience is Everything.
Managing the Virtual Dealership. Customer Experience is Everything.3 Birds Marketing LLC
 
How Men's Wearhouse is Addressing Commerce in the Age of the Informed Consumer
How Men's Wearhouse is Addressing Commerce in the Age of the Informed ConsumerHow Men's Wearhouse is Addressing Commerce in the Age of the Informed Consumer
How Men's Wearhouse is Addressing Commerce in the Age of the Informed ConsumerPerficient, Inc.
 
Ibm smarter commerce announcement industry analyst march 10
Ibm smarter commerce announcement industry analyst  march 10Ibm smarter commerce announcement industry analyst  march 10
Ibm smarter commerce announcement industry analyst march 10Mauricio Godoy
 
Ibm smarter commerce announcement industry analyst march 10
Ibm smarter commerce announcement industry analyst  march 10Ibm smarter commerce announcement industry analyst  march 10
Ibm smarter commerce announcement industry analyst march 10Mauricio Godoy
 
Challenges and Risks for the CIO from Outsourcing in the digital era
Challenges and Risks for the CIO from Outsourcing in the digital eraChallenges and Risks for the CIO from Outsourcing in the digital era
Challenges and Risks for the CIO from Outsourcing in the digital eraAntoine Vigneron
 
SaaS Top 10 Dos and Don'ts
SaaS Top 10 Dos and Don'tsSaaS Top 10 Dos and Don'ts
SaaS Top 10 Dos and Don'tsChaoticFlow
 
Not Your Typical Marketing Campaign: The Next Wave of Technology- Driven Mark...
Not Your Typical Marketing Campaign: The Next Wave of Technology- Driven Mark...Not Your Typical Marketing Campaign: The Next Wave of Technology- Driven Mark...
Not Your Typical Marketing Campaign: The Next Wave of Technology- Driven Mark...Florian Gröne
 

Similaire à Five Truths In Building An Effective Digital Marketing And E Commerce Strategy (20)

Capturing intelligence while managing relationships
Capturing intelligence while managing relationshipsCapturing intelligence while managing relationships
Capturing intelligence while managing relationships
 
Bank 2.0 - The big shift
Bank 2.0 - The big shiftBank 2.0 - The big shift
Bank 2.0 - The big shift
 
Accenture: ACN-interactive-pov-multichannel-attribution Feb 2013
Accenture: ACN-interactive-pov-multichannel-attribution Feb 2013Accenture: ACN-interactive-pov-multichannel-attribution Feb 2013
Accenture: ACN-interactive-pov-multichannel-attribution Feb 2013
 
XaaSalerator overview for web
XaaSalerator overview for webXaaSalerator overview for web
XaaSalerator overview for web
 
The Online Insurance Imperative: Driving Growth by Expanding Your Online Pres...
The Online Insurance Imperative: Driving Growth by Expanding Your Online Pres...The Online Insurance Imperative: Driving Growth by Expanding Your Online Pres...
The Online Insurance Imperative: Driving Growth by Expanding Your Online Pres...
 
Smartare kunder kräver smartare affärer
Smartare kunder kräver smartare affärerSmartare kunder kräver smartare affärer
Smartare kunder kräver smartare affärer
 
Accenture monetizing-personal-touch
Accenture monetizing-personal-touchAccenture monetizing-personal-touch
Accenture monetizing-personal-touch
 
Contextual Commerce: Best Practices for Winning with Customer Experience with...
Contextual Commerce: Best Practices for Winning with Customer Experience with...Contextual Commerce: Best Practices for Winning with Customer Experience with...
Contextual Commerce: Best Practices for Winning with Customer Experience with...
 
Digital Disruption in Distribution and Manufacturing: How to Be a B2B Leader
Digital Disruption in Distribution and Manufacturing: How to Be a B2B LeaderDigital Disruption in Distribution and Manufacturing: How to Be a B2B Leader
Digital Disruption in Distribution and Manufacturing: How to Be a B2B Leader
 
The Number One Digital Challenge Facing B2B Today
The Number One Digital Challenge Facing B2B TodayThe Number One Digital Challenge Facing B2B Today
The Number One Digital Challenge Facing B2B Today
 
How Technology Influences Marketing
How Technology Influences MarketingHow Technology Influences Marketing
How Technology Influences Marketing
 
ECOMMERCE INTEGRATION - Tips to try and traps to avoid for a successful integ...
ECOMMERCE INTEGRATION - Tips to try and traps to avoid for a successful integ...ECOMMERCE INTEGRATION - Tips to try and traps to avoid for a successful integ...
ECOMMERCE INTEGRATION - Tips to try and traps to avoid for a successful integ...
 
Keynote Microsoft Dynamics CRM | David Brown, Microsoft
Keynote Microsoft Dynamics CRM | David Brown, MicrosoftKeynote Microsoft Dynamics CRM | David Brown, Microsoft
Keynote Microsoft Dynamics CRM | David Brown, Microsoft
 
Managing the Virtual Dealership. Customer Experience is Everything.
Managing the Virtual Dealership. Customer Experience is Everything.Managing the Virtual Dealership. Customer Experience is Everything.
Managing the Virtual Dealership. Customer Experience is Everything.
 
How Men's Wearhouse is Addressing Commerce in the Age of the Informed Consumer
How Men's Wearhouse is Addressing Commerce in the Age of the Informed ConsumerHow Men's Wearhouse is Addressing Commerce in the Age of the Informed Consumer
How Men's Wearhouse is Addressing Commerce in the Age of the Informed Consumer
 
Ibm smarter commerce announcement industry analyst march 10
Ibm smarter commerce announcement industry analyst  march 10Ibm smarter commerce announcement industry analyst  march 10
Ibm smarter commerce announcement industry analyst march 10
 
Ibm smarter commerce announcement industry analyst march 10
Ibm smarter commerce announcement industry analyst  march 10Ibm smarter commerce announcement industry analyst  march 10
Ibm smarter commerce announcement industry analyst march 10
 
Challenges and Risks for the CIO from Outsourcing in the digital era
Challenges and Risks for the CIO from Outsourcing in the digital eraChallenges and Risks for the CIO from Outsourcing in the digital era
Challenges and Risks for the CIO from Outsourcing in the digital era
 
SaaS Top 10 Dos and Don'ts
SaaS Top 10 Dos and Don'tsSaaS Top 10 Dos and Don'ts
SaaS Top 10 Dos and Don'ts
 
Not Your Typical Marketing Campaign: The Next Wave of Technology- Driven Mark...
Not Your Typical Marketing Campaign: The Next Wave of Technology- Driven Mark...Not Your Typical Marketing Campaign: The Next Wave of Technology- Driven Mark...
Not Your Typical Marketing Campaign: The Next Wave of Technology- Driven Mark...
 

Five Truths In Building An Effective Digital Marketing And E Commerce Strategy

  • 1. Five Truths in Building an Effective Digital Powering Out of the Curve Marketing and e-commerce Strategy Business Services >> Industrial Products >> Healthcare >> Technology >> Financial Services Consumer companies are fighting to grow profitable revenue in fields that are foreign to many Blue Ridge Partners is the of their senior executives. Ever changing customer-facing technologies - web, mobile or social most experienced, impactful based - and an emerging, broadening set of competitors have quickly become mainstream and respected firm exclusively agenda items in the boardroom. focused on helping companies These companies are confronted with the additional challenge of redefining their customer. improve the performance of Are their customers the “Big Box retailers” where they have enjoyed revenue growth and pre- their “revenue engine”. dictability in the past? Are they the up-and-coming “online retailers” with the highest recent sales growth rates? Is it the end consumer who chooses to buy direct from the consumer website or mobile app? Or is it a complex combination of all three? Locations: How can consumer companies manage the inherent conflict that exists between digital and • Boston e-commerce technologies and more traditional channels? Where should they place their bets • Chicago and with what mix? What is the optimal pricing strategy across these different channels? There • Dallas is a lot at stake and the available expense and capital for digital marketing and e-commerce • Denver has been scarce. • London M • New York Five Truths • San Francisco In our work with companycompanies we have identified five truths related to digital market- ost consumer leadership teams spent the last several years • Washington, DC ing and e-commerce: into the curve”—cutting costs, streamlining “braking operations, conserving cash and managing their credit facilities. The brakefundamentally changedfor this portionpurchase journey and buy- 1. Technology has was the proper pedal the consumer’s of the track. ing behavior. At each stage of the Consumer Purchase Journey numerous online and But how should leadership teams maneuver how consumers the apex offline “touch points” come into play affecting as they reach browse, evaluate, compare and buy products online. Technology has enabled rapid and efficient engagement with of the curve—the critical point at which braking is no longer the right brands like never before. technique and gears need to be shifted to increase speed and power out • Digital touch points can be a brand’s friend or foe. They need to be introduced to of the curve? consumers as a component of the overall go-to-market strategy and not in isola- tion. essential. If you let up on the brake too soon, you might still hit the wall. If you let up too late, competitors will pass be “valued” and measured for the impact • Additionally, the touch points need to you. each has at each stage of the path to purchase leading to increased online revenue But more troubling– brand awareness, customer acquisition, and conversion. growth. e.g. than the question of timing is whether your revenue engine will respond and stages of the Consumer Purchase Journey can create a significant • Touch points when you round the corner and try to accelerate. competitive advantage as part of an omni-channel strategy across all media types If your engine sputters, top-line growth will be sluggish, market and points of purchase. share will be lost to better prepared competitors and investors will be disappointed. Ps” of traditional marketing (people, price, product, promotion, placement, • The “7 process, physical environment) are still applicable but digital marketing and e- HEADQUARTERS commerce adds a new and broader set of considerations. 1350 Beverly Road, Suite 115 Companies should begin now to determine how their revenue engine McLean, Virginia 22101 may• Consumers consider and evaluate productswill require precious respond. Improvements and adjustments based on “Likes”, “Tweets”, blog post- ings, web advertisements, etc. They then purchase, provide feedback, exhibit INFORMATION time to complete. The next pages provide insights to help you loyalty, and advocate for a brand through similar channels. www.blueridgepartners.com ensure your revenue engine responds when your time comes for info@blueridgepartners.com • Digital Marketing allows consumer companies to build brand awareness and eq- phone 703-448-1881 powering out of the curve. of the consumer purchase journey and e-commerce allows uity at the early stages these companies to acquire customers and earn loyalty at the later stages.
  • 2. Some Revenue Engines Were Weak Even Consumer Purchase Journey Worse, Your Customers Have To Make Things Before the “Braking” Began Likely Changed in the Last 12 Months Old weaknesses in your revenue engine didn’t get fixed It seems reasonable to assumeExhibit customers Provide that your during the slowdown. These weaknesses are hibernatingPurchase differently than they did a year ago. Their Advocate Consider Evaluate think Feedback Loyalty world has and waiting to become failure points when your revenue changed dramatically, just like yours. When you try to Digital Marketing: e-Commerce: engine starts to rev up again. awareness and equity Build brand Here are a few examples we power out of the curve, you need to understand what’s Consumer acquisition, conversion, loyalty have seen recently: the same and what’s different in your primary customer Search • Keywords • Search rank • Clicks u Sales and marketing believe they know why they win/ markets. lose but their beliefs are inconsistent with what new u Are all customers more price sensitive or just certain Display • Impressions • Clicks • Conversion customers and lost prospects tell us segments? • Likes • Tweets • Blog Posts uSocial The sales force sells features(name/contact) not business • Prospects and functions u Have buying preferences and decision factors • Likes • Tweets • Blog Posts solutions and business value (ROI) changed? Are customers expecting a different value Mobile • Impressions • Clicks • Conversion u Customer segmentation is very rudimentary and proposition?Conversion Rate • Messages • Sales • therefore not helpful in optimizing resource allocation • Impressions • Read • Clicks u Have buying decisions for your products/services been E-Mail • Conversion • Messages or making the best pricing decisions elevated to a more senior buyer within your customer’s u Websales pipeline is full of oldPage views •low probability The • Unique visitors • leads and Time organization? • Sales • Conversion Rate • Messages leads—the pipeline is unusable for revenue forecasting u Has the ROI horizon contracted? Print • Impressions or evaluating the true condition of customer demand u Do customers have a different willingness to spend or Legend: u The bottom 25%Impressions •forceolacksathe skill, the Direct Mail • of the sales Resp nse r te different investment agenda? • Conversion will or both to be successful On-line Media u Has the perception of your company • Sample Metrics changed? Broadcast partners are not adequately supported with u Channel • Impressions The perception of Traditional Media competitors? • Sample Metrics tools and messaging to optimize their performance u Have competitors changed their messages, tactics, Proprietary and Confidential products, pricing? Is this resonating with customers? 1 2. Former concepts of customer definition, segmentation, targeting, conversion, a company tell if its revenue longer suf- So, how can customer service and loyalty are no ficient. Previous methods of gathering consumer and market data and insights do not provide the factual depth and timing required to respond to changing demand and/or shopping behavior. engine is ready to go when the time comes to power out of the curve? • Consumer demographics, personas, price sensitivities and channel preferences need to be understood to effectively target con- sumers for specific categories and products. Based on our work with nearly 200 companies, Blue Ridge Partners has prepared the following checklist • Monitoring and responding to social conversations and postings is critical to developing, growing and maintaining brand equity. for making sure you are ready. • Forecasting online growth must be thought of in terms of online addressable market size, segmentation, cost and time to acquire new consumers, trends and competitive threats. • Consumer companies need to develop actionable insights about their target market in a rigorous and ongoing way to effectively keep their hand on the pulse of changing consumer trends and behavior 3. Many consumer companies have transformed themselves from straightforward B2B business models to a much more complex B2B and B2C combination. This change has also opened up more complex channel relationships requiring different financial and incentive arrangements than earlier models. • Consumer companies now have the potential to sell not only through traditional distributors but also directly to consumers, but they struggle to create online scale and manage channel conflict. • New omni-channel marketing models offer a huge opportunity to create an end-to-end consumer experience. Integrating invest- ments across offline and online media can improve efficiency of spend, conversion rates and consumer loyalty. • Retailers are threatened by brands and e-tailers going direct to consumers. e-tailers have significant on-line scale and an ability to leverage analytic capabilities to mine consumer data for better targeting. • Competition is no longer limited by geography thereby creating margin pressure.
  • 3. Digital enables, for the first time, closed loop analytics and rapid, the first time, closed loop Digital enables, for response-driven adjustments Marketers are accelerating the use of marketing analytics to allocate media investments analytics and rapid, response-driven adjustments Some Revenue Engines Were Weak Even based To Make Things Worse, Your Customers Have across traditional and digital channels upon each channel’s demonstrated ability Before the “Braking” Began to influence consumer decision-making at each stage Changed in the Marketers are accelerating the use of marketing analytics to allocate mediaLast 12 Months Likelyalong the Consumer Purchase Journey. investments across traditional and digital channels based upon each channelÕ s demonstrated ability to Old weaknessesinfluence consumer decision-making at each stage along the Consumer Purchase Journey in your revenue engine didn’t get fixed It seems reasonable to assume that your customers during the slowdown. These weaknesses are hibernating think differentlyConsumers did a year ago. Their world has than they Target Consumers Analyze Results • Who are my best consumers? Target and waiting to become failure points when your revenue •  Closed loop marketing changed dramatically,best consumers? When you try to •  Who are my Ijust more yours. like them? like • Where do nd consumers engine starts to rev uptoagain. Here are a few examples we Analyze Results measure analytics power out •  Wherecurve, you need to understand what’s of•the do I Ifind more consumers like them? How do reach them? • Closed loop against performance have seen recently: marketing •  How do I reach the same and what’s they them? in your primary customer different objectives • How they respond? •  How do do respond? analytics to measure •  How manyagainst Who? leads? u Sales andperformance believe they know why they win/ marketing • What are the best channels / methods / markets. •  What are the best channels / methods / Which channels? objectives messages to to drive the desired behavior? messages drive the desired behavior? •  How many are inconsistent with what new ConsumersAre all customers more price sensitive or just certain lose but their beliefscustomers? u Target Consumers Target • How many leads? Who? Who? What did they customers and lost prospects tell us Which channels? did they purchase? How segments? Plan Campaign Plan Campaign • How many customers? Who? functions not business u Have buying preferences and decision factors purchase? How much did u The sales force spend? sells features and The image cannot be displayed. • What my desired, •  What are are my desired, measurable Your computer may not have enough memory to open the image, they What did they purchase? or the image may have been corrupted. Restart your computer, solutionsHow didmanypurchase? (ROI) and business value changed? Are customers objectives for thedifferent value measurable expecting a objectives for the campaign? and then open the file again. If the •  How they customers red x still appears, you may have to delete the image and then insert it again. repurchased? Which How much did they spend? AnalyzeResults Analyze Results • How do campaign? I best achieve these proposition? •  How do I best achieve these Plan Campaign u Customer segmentationmuch did rudimentary and Plan Campaign • How many customer is very customers? How objectives? objectives? they spend? How much thereforerepurchased? Whichoptimizing resource allocation not helpfulmade from profit have I in u Have buying decisions for your products/services been or making the customer?muchdid customers? How much this best pricing decisions they spend? How elevated to a more senior buyer within your customer’s •  t have I made from on proWhat was my return old leads and low probability this organization? Execute Campaign u The sales pipeline is full of marketing investment? •  Deliver campaign messages / offers to customer? Execute Campaign • What was my is unusable for revenue forecasting u Has thetargeted consumers leads—the pipelinereturn on Execute Campaign the ROI horizon contracted? or evaluating the true condition of customer demand Campaign Do customers have a different willingness to spend or marketing investment? Execute u • Deliver campaign messages / o ers to the 4. FewThe bottom capturethe sales force lacks the skill,the level of detail and frequency toagenda? real-time “campaign level” u companies 25% of online performance data at the different investment allow near targeted consumers Proprietary and Confidential 2 course correctionsbe maximize ROI. will or both to Confidential Proprietary and to successful u Has the perception of your company changed? 2 •u Channel partners are not adequately supported with to understanding onlineof competitors? profitability. This would Capturing the right data at the right frequency is essential The perception performance and include: marketing costs, customer acquisition and conversionu Have competitors changed their messages, tactics, time on tools and messaging to optimize their performance costs and rates, repeat buy/loyalty, site visits, page views, site, purchase frequency, online reviews/consumer sentiment, margin, etc. products, pricing? Is this resonating with customers? • To maximize revenue growth and profitability consumer companies will need to draw insights from performance data through best-in-class tools, data capture strategies, and comprehensive analytics at speeds never before attempted. So, how can a company tell if its revenue • Digital marketing data capture strategy enables closed loop analytics and quick, response-driven adjustments for the first time. engine is ready to go when the time comes to Delivery of actionable insights to key decision makers in a rapid and ongoing process can mean the difference between efficient online growth and costly stagnation power out of the curve? Based on our work with nearly 200 companies, 5. Dramatically different skills, organizational models and partnerships are essential has prepared the following checklist Blue Ridge Partners to grow profitably in the digital market- place. for making sure you are ready. • Successful e-commerce businesses manage change quickly and make innovation a priority. The profile of team members who can thrive in this environment needs to be clearly understood and nurtured. • Making good in-house versus outsourcing decisions can significantly affect revenue and profitability. Deciding what skills are required in-house, where they can be sourced and how they should be developed is a critical component of any online business sourcing strategy. • Collaboration with channel partners to achieve synergistic and risk-mitigated growth is key. Leveraging partners strengths and resources can be a cost effective way to drive innovation and differentiation for both organizations and mitigate risk. Our Approach Each of these interrelated truths represents a challenge to consumer leaders. Our approach to helping clients meet these challenges Digital Growth Roadmap: involves fact gathering, analysis and insights to answer questions is a series of six steps, each building on answers from previous steps, to How do we help our clients grow online share? develop new competitive models for digital marketing and e-commerce that drive accelerated revenue growth. Diagnose Identify Develop Define Priorities Plan Define Success Performance & Customer Digital & Funding Implementation Measures & Benchmark Segments Strategy Sources & Org. Training Key Metrics How is my Who are my What strategy should I How will I fund this How should I be How do I measure organization consumers? employ, channels and path to achieve organized and what success? performing in the •  Demographics? tools should I use, maximum results? skills do I need to •  Yearly, quarterly,
  • 4. Increasing Revenuecritical questions in at Over 150 Hotels (cont.) We help our clients answer Performance each of the six steps including:  Diagnose Company Performance and Benchmark Against Competition – Tools we the company performing in the digital marketplace today? How is used to improve their revenue growth • Relative to overall market share? • Growth? u Behaviors of High Performing Revenue En- 100 u Nine Voices of the Market™ to gather data on • Relative to competition? • Profitability? gines™ as the basis for measuring sales perfor- actual sales personnel performance • Quantitatively? • Consumer experience? mance and identifying gaps between current and • performance (see below) Qualitatively? u Comparative• Loyalty? charts to motivate performance desired improved performance (see below) u Performance standards and benchmarks to evalu-  Identify Customer Segments – u Periodic reports to track performance trends ate absolute and relative performance within and Who are the customers and what are their values? over time across properties and brands • Demographics? • How do they consume content? • Likes and dislikes? • Shopping vs. buying? • Households? • Across brands? Online vs. mobile vs. social? Brand operator performance report • Personas? • Are they loyal? • What is their price sensitivity  Develop a Digital Strategy – What are the possible scenarios to evaluate – channels and tools to use: partners to arrange; etc.? Selling the property Being available and • How can the scenarios be “pressure tested” for significance, attainability and risk? Providing a quality Handling schedule prospect’s needs Handling pricing Making the sale • How fast can, and should, the company proceed? on outstanding Undesrtanding professionally Following up • How can the company message and address potential channel conflict and threats with existing distributors/partners? responding objections proposals proposal conflicts How will the strategy change over time as the addressable consumer base grows?  Determine Priorities and Funding Sources – Brand 1will the company fund this path to achieve maximum results? How Brand 2 Offline ad spend? • Brand 3 Optimize Trade spend? • Brand 4 Co-op dollars from partners to fund innovation that benefits both parties? • Brand 5  Plan for Implementation and Organizational Training – How should the company be organized relative to digital marketing and e-commerce and what skills are needed to maximize perfor- mance? Below Expectations Meets or Exceeds Expectations • Which should be in-house and what should be outsourced? • How relevant are the skills in house today? • Who and how should the company hold people/partners accountable? Examples of poor performance we identified  Only 28% of properties were Model Performers u Define Measures of Success and Key Metrics – u Only 50% of the properties developed acceptable and 32% Iwere verysuccess? expectations How do measure far below proposals u 25% ofBy media, brand, division, category, path to purchase, campaign? At • properties, it was difficult to even make u 50% of the properties failed to satisfactorily • By customer acquisition, traffic, page views, conversion, loyalty, consumer sentiment, margin, abandoned carts, referral rates, cost contact with a Group Sales representative follow-up on outstanding proposals - i.e., failed of acquisition, cost of conversion? to make a follow up phone call to the prospective u 50% of properties did not adequately handle pric- • When should data be captured (annually, quarterly, monthly, daily) to facilitate prompt action? customer ing objections By following our six step approach, we help clients identify pragmatic approaches and plans and then build world-class digital marketing and e-commerce operations to drive profitable revenue growth. If you aren’t seeing superior growth inlike assistance in successfully meeting the challenges of this Contact us if you would profitable revenue, contact us for an actionable evaluation of your company’s revenue engine. dynamic marketing and selling environment. 1350 Beverly Road, Suite 115 • McLean, Virginia 22101 • www.blueridgepartners.com • info@blueridgepartners.com • phone 703-448-1881