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Suffering from premachurn? How to fix onboarding, keep customers, and get more from your marketing dollars

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Download the full white paper here: www.premachurn.com

Premachurn—the loss of customers during the onboarding process—is hurting businesses. In this presentation, you'll learn what premachurn is, what causes it, and how to fix it. Keep your customers, and get more from your marketing dollars by identifying and eliminating premachurn.

www.ariad.ca

Publié dans : Marketing
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Suffering from premachurn? How to fix onboarding, keep customers, and get more from your marketing dollars

  1. 1. How to fix onboarding, keep customers, and get more from your marketing dollars Premachurn
  2. 2. pre•ma•churn pre•MA•churn N. The loss of brand-new customers, acquired by successful marketing, before they are even fully onboarded.
  3. 3. pre•ma•churn pre•MA•churn N. When consumer products are sampled or purchased but remain unused by the people who buy them, because they don’t understand how to use them.
  4. 4. pre•ma•churn pre•MA•churn N. When consumers sign up for a financial product, but then don’t use it because they don’t activate their new account.
  5. 5. pre•ma•churn pre•MA•churn N. When apps are downloaded but are then rarely used because the user wasn’t supported in becoming a regular and habitual user of the service.
  6. 6. Premachurn costs businesses $
  7. 7. $1B revenue company 5.5% revenue spent on acquisition marketing 10% acquired customers fail to make it through onboarding $550,000 marketing spend lost annually The lost marketing budget *Source: Focus B2B Marketing Budget Gains On Business Outcomes To Succeed In 2014, Forrester, January 2014 (forrester.com); B2C Marketers Must Turn Fragmented Marketing Budgets Into Business Budgets, Forrester, December 2013 (forrester.com)
  8. 8. The missed opportunity $1B revenue company 80% revenues are post initial sale 10% acquired customers fail to make it through onboarding $90M of potential revenue is lost annually *Source: Focus B2B Marketing Budget Gains On Business Outcomes To Succeed In 2014, Forrester, January 2014 (forrester.com); B2C Marketers Must Turn Fragmented Marketing Budgets Into Business Budgets, Forrester, December 2013 (forrester.com)
  9. 9. Why it’s about marketing The steps to treat premachurn THE CAUSES OF PREMACHURN
  10. 10. • Three specialized roles in creation of customer interactions • Brand experience is responsible for ensuring the brand is distinct and identifiable • Customer experience focuses on creating positive human interactions • User experience creates well designed functional interactions Brand experience Customer experience User experience A lack of integration between key roles
  11. 11. • Onboarding seen as functional • The exclusive preserve of operations and/or user experience teams • Interaction with brand and customer experience teams minimal Onboarding is often siloed User experience Brand experience Customer experience
  12. 12. In the eyes of the customer, brand experience, customer experience and user experience are the same
  13. 13. The causes of premachurn The steps to treat premachurn WHY IT’S ABOUT MARKETING
  14. 14. Where is the premachurn in your company? Are there patients who fail to adopt new treatment regimens or healthcare aids? Are there new products purchased but not used by the consumer? Are clients signing up but failing to fund their account? Are apps and programs being downloaded but not used?
  15. 15. Premachurn hurts marketing It loses the potential lifetime value of customers It costs marketing budget 2 It damages the reputation of marketing 31
  16. 16. Marketers have the skills to fix premachurn Marketers understand the brand Marketers understand the customer journey Marketers take a longer view of acquisition 2 31
  17. 17. The causes of premachurn Why it’s about marketing THE STEPS TO TREAT PREMACHURN
  18. 18. 8 steps organizations can take to treat premachurn 1. Define where onboarding begins and ends 2. Map the journey and current experience 3. Map the ideal experience 4. Plan your content 5. Build internal stakeholder support 6. Prototype, test, refine 7. Implement 8. Measure and adjust
  19. 19. For an enterprise IT sale, this might be where sales takes over responsibility for a prospect For a consumer packaged good, this might be when the product is sampled or in-store at shelf For a discount brokerage, this might be when the customer has made a first transaction For a media organization, this might be when a customer has purchased a subscription The beginning The end 1. Define where onboarding begins and ends
  20. 20. Between the beginning and the end, map every touchpoint: • What channel? • What happens? • What happens when things go well? • What happens when things do not go well? • How does the customer feel? Touchpoint 1 Touchpoint 2 Touchpoint 3 Touchpoint 4 Touchpoint 5 2. Map the journey and current experience
  21. 21. • Focus on the ideal rather than the possible • Create a rallying cry for a better brand and customer experience during onboarding • Co-create the experience with customers 3. Map the ideal experience
  22. 22. • Identify the kind of content required • For each touchpoint consider the customer’s ability to complete the task and their motivation to complete the task • Different content types will be more suited to different customer interactions 4. Plan your content *Source: BJ Fogg, Ph.D., Persuasive Technology Lab, Stanford University (behaviormodel.org)
  23. 23. • The route to fixing premachurn does not require an enterprise-wide transformation initiative • Even so, the project will lead to multiple stakeholder engagements • Be sure to consider those stakeholders’ perspectives, their likely concerns, and potential motivations • Involve stakeholders at every step of the project to build understanding and support 5. Build internal stakeholder support
  24. 24. • Test the new onboarding experience with customers before you implement • Testing doesn’t require a fully built experience • Create a prototype, frame the experience in as much detail as possible • Refine experience based on results 6. Prototype, test, refine
  25. 25. 7. Implement • Prioritize action areas • Focus on the most critical moments of the journey • Outline and schedule resources • Develop a clear, tightly defined brief for each item
  26. 26. 8. Measure and adjust • Track progress of onboarding customers • Once implemented some parts will work well, others less well • New and unexpected barriers may appear • Develop new strategies and approaches to reach those still stuck • Calculate the increased revenues and cost savings of the new onboarding process
  27. 27. Capture the lifetime value of customers Optimize marketing budget efficiency Enhance the reputation of marketing for delivering business value The outcome of treating premachurn? 2 31
  28. 28. Ariad Communications www.ariad.ca P.O. Box 500, Station A Suite 7C100 Toronto, Ontario M5V 3G7 tel 416-971-9294 | fax 416-971-9292 Mark Michaud SVP Strategy & Research, Ariad Communications mmichaud@ariad.ca @michaudmark Download the paper Let’s start the conversation and get on the road to fixing premachurn

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