As merchants we are often too focused on engaging customers at the moment of purchase. This leads us to overly rely on expensive outbound acquisition activities that are often ineffective. Join Danny Essner, Head of Merchant and Partner Marketing at Magento, and Sam Mallikarjunan, Head of eCommerce Marketing, to learn how to map customer buying journeys and leverage Inbound Commerce to engage and win customers before they’re ready to buy. In this webinar we’ll show you how to build long-term customer relationships that optimize for customer lifetime value.
10. Reality is more complicated:
The inbound relationship lifecycle
11. Reality is more complicated:
The inbound relationship lifecycle
– Missing key phases of
the buying cycle and
marketing process
– Considers “Influencers”
an end-state
– Considers “Buyers” and
end-state
15. eCommerce
marketers are late to
the game – always
focused on the sale. If
you’re waiting until the
customer is ready to
buy to engage
them, you’ve already
lost them.
23. #InboundCommerce is about creating an end-to-end
user experience that people love.
#Smarketing is aligning sales (e.g. @Magento) with
marketing (e.g. @HubSpot) so you can make decisions
based on the whole picture.
Lazy Tweets
28. How many personas should a company have?
Short answer: As many as needed and
as few as possible.
Multiple Persona Disorder
29. Buyer Personas tell us who
our customer is:
What makes an
experience they’ll love
What influences their
behaviors
30. Customer Example
Could you write a
blog article after
looking at this?
Could you craft a
persuasive email
with this info?
Could you define a
qualifying question to
identify Sam
amongst the crowd?
32. • Age: 25
• Gender: Male
• Income: $77,000
• Sites he visits: BostInno, NY
Times, Gizmodo
• Social Accounts:
Twitter, LinkedIn, Facebook
• Likes: Marketing, Star Wars, tech,
gadgets, etc.
Computerized Buyer Profile
33. Narrative Buyer Persona
Narrative
Backstory:
Choosy Charlie is a 29 year old
marketing manager for a software
company in Cambridge Mass.
Charlie has an MBA from Sloan
at MIT. His favorite hangout is
Courtside Karaoke bar. Charlie is
an Android guy – Google
basically owns his life. He’ll be
first in line to buy Glass. He was
raised from birth to be a Green
Bay Packers fan. He’s technically
savvy as a user but doesn’t know
the jargon (though he won’t admit
it).
Psychographic
Dimensions:
• What he’s looking for:
• HDTV (product)
• Better experience (emotion)
• Pain Points:
• Uninformed about specs
• Short on time
• Communication Preferences:
• E-mail (short, no graphics)
• Twitter @replies
• Decision influencers:
• Friends, “expert” advice
• Responsiveness to humor:
• Very receptive
• Responsiveness to urgency:
• Not receptive
34. Anonymous, generic transactions
In gray we’ll talk about what the
marketer’s engagement with
Charlie looks like in each Phase.
We’ll include
tools, tactics, channels, metrics, an
d more.
In white we’ll narrate Charlie’s
Journey on his way to purchasing
his HDTV.
We’ll talk about what factors of the
buyer persona affect each phase.
35. This is the big
weakness for
sellers focusing on
marketplaces – the
relationship you’re
building is with the
marketplace – not
your company.
36. A lasting, valuable relationship
Hi! I’m Charlie! I have
things I love and hate. I
have vague personal
goals.
Hi! I’m Corey, head of
HDTV Product Marketing
for Fakasonic. I have
clear business goals.
37. You’ve already lost
the battle for the
one-night-stand
customer to
discount and long-
tail inventory sites.
But they wouldn’t
have been loyal to
you anyways. You
deserve to be
loved.
38. At this point, Corey knows Corey pretty
well:
Primary marketing goal: Audience
building
Content types: Blogs, share-bait
Key Metrics: Reach, Net-New Contacts
Corey only know Charlie as a friend of a
friend:
General Interests
“Talking About”
Relevance Phase
The largest bucket, the Relevance
Phase includes anyone who could be
interested in or affected by your
product.
39. Corey’s job is to create content that will
attract Charlie, either through organic
search results social referrals.
General topic blog articles
Visual content
Social interaction/monitoring
Leveraging promoters
Relevance Phase
I like
sports!
The largest bucket, the Relevance
Phase includes anyone who could be
interested in or affected by your
product.
40. Corey’s job is to create content that will
attract Charlie, either through organic
search results social referrals.
General topic blog articles
Visual content
Social interaction/monitoring
Leveraging promoters
Relevance Phase
I like
sports!
The largest bucket, the Relevance
Phase includes anyone who could be
interested in or affected by your
product.
41. Moving between phases
To move Charlie from the Relevance Phase to the Awareness Phase, Corey needs to
create and share an aspirational content experience that helps Charlie realize what his
life as a sports enthusiast could be like.
I like
sports!
I wish I could
see the game
better.
42. Moving between phases
To move Charlie from the Relevance Phase to the Awareness Phase, Corey needs to
create and share an aspirational content experience that helps Charlie realize what his
life as a sports enthusiast could be like.
I like
sports!
I wish I could
see the game
better.
43. Awareness Phase
The Awareness Phase of the buying cycle
starts when Charlie has identified –
become aware – that he has a pain point
to begin with. In this case, Charlie hates
that his old, tiny, yet somehow still bulky
TV “sucks”.
Primary Marketing Goal: Attract problem-
sensitive traffic, and/or build problem
awareness
Content Types: Blogs, visual
content, early-stage downloadable
content
Key Metrics: Website Traffic, Net
Promoter Score, Product/Feature
Awareness Surveys, Pre-Transactional
Conversions
44. Moving between phases
To help Charlie move from the Awareness Phase to the Research Phase of his buying
cycle, we need to help educate Charlie so he can articulate his desires and know what
factors or features are relevant to them.
I wish I could
see the game
better.
45. Moving between phases
To help Charlie move from the Awareness Phase to the Research Phase of his buying
cycle, we need to help educate Charlie so he can articulate his desires and know what
factors or features are relevant to them.
I wish I could
see the game
better.
I wish my TV had a
better contrast ratio
and definition.
46. Research Phase
We’ve been told since we were kids to
“look before we leap”. Every product, no
matter how small or large, involves some
level of research.
Primary Marketing Goal: Position specific
Fakasonic HDTV’s as solutions
Content Types: Blogs, visual
content, buyer’s guides, feature
guides, etc.
Key Metrics: Website Traffic, Net
Promoter Score, Product/Feature
Awareness Surveys, Pre-Transactional
Conversions
47. Research Phase
Thanks to the exposure I’ve had to
Fakasonic’s inbound marketing, I’m
familiar with them. They’ve also given me
something valuable without asking much
in return through their “Football Fan’s
Guide To Find Fellow Fans”.
Primary Marketing Goal: Position specific
Fakasonic HDTV’s as solutions
Content Types: Blogs, visual
content, buyer’s guides, feature
guides, etc.
Key Metrics: Website Traffic, Net
Promoter Score, Product/Feature
Awareness Surveys, Pre-Transactional
Conversions
48. Ethos: The Appeal
of classical rhetoric
that states that the
authority or
credibility of the
speaker has a direct
impact on the
willingness of the
audience to be
influenced by the
message.
49. Research Phase
Corey’s not just building her contact
list, she’s generating predictable future
sales revenue that she can analyze and
optimize:
50. Moving between phases
To move Charlie from the Research Phase to the Comparison Phase, Corey needs to
create content that helps Charlie define and articulate his wants and needs.
I wish my TV had a
better contrast ratio
and definition.
51. Moving between phases
To move Charlie from the Research Phase to the Comparison Phase, Corey needs to
create content that helps Charlie define and articulate his wants and needs.
I’m trying to decide
between a
Fakasonic VT30
and a Fony
Braavos TV…
I wish my TV had a
better contrast ratio
and definition.
52. Corey knows a fair bit about Charlie’s
behaviors on her site as well as the persona
segmentation questions she asked when he
downloaded his eBook.
She can send him content that helps him
make decisions.
Comparison Phase
Once Charlie has a fair grasp on the his
wants and needs, he can start to compare
options. He might be comparing your
product to a competitor’s, or even just
comparing product options that you sell.
53. Comparison Phase
“What is simple and obvious to you may be mind
blowingly amazing to your customers.” – Tom Schwab
(@TMSChwab)
54. This is typically the earliest that many
eCommerce marketers engage
relationships with blogs like “Why You
Should Buy a Fakasonic VT30” or bidding
on competitor’s product keywords in PPC
Comparison Phase
55. Note that Buyer’s Guides and other late-
stage content will have a different value of
pipeline revenue than earlier stage content.
Analyze it separately to measure your
marketing team’s effectiveness in this
phase.
Comparison Phase
56. Moving between phases
To move Charlie from the Comparison Phase to the Intent Phase, Corey has to help and
empower Charlie to make decisions between his multiple options.
I’m trying to decide
between a
Fakasonic VT30
and a Fony
Braavos TV..
57. Moving between phases
To move Charlie from the Comparison Phase to the Intent Phase, Corey has to help and
empower Charlie to make decisions between his multiple options.
I’m trying to decide
between a
Fakasonic VT30
and a Fony
Braavos TV..
I want to buy a
Fakasonic
VT30
58. In the Comparison Phase, Corey
captured information about what really
matters to Charlie and when he’s
planning to make a move. Now she can
leverage that.
Intent Phase
In the intent phase, Charlie knows what
he wants to buy. Now he just has to
decide when and from whom.
59. Moving between phases
For Charlie to take that final leap from the Intent Phase to the Purchase Phase, Corey
has to make sure that trust, logical, and emotional considerations have all been
addressed.
I want to buy a
Fakasonic
VT30
60. Moving between phases
For Charlie to take that final leap from the Intent Phase to the Purchase Phase, Corey
has to make sure that trust, logical, and emotional considerations have all been
addressed.
Awesome! I
own a
Fakasonic
VT30!
I want to buy a
Fakasonic
VT30
61. Logos: The appeal
of rhetoric that
addresses logical
concerns, such as
functionality and
price.
62. Logos: The appeal
of rhetoric that
addresses logical
concerns, such as
functionality and
price.
Ah, but what of
Pathos – those
emotional concerns
that guide our
actions so strongly.
63. A sale is not the result
of a magical closing
marketing tactic, it’s
the inevitable result of
a well-designed and
properly executed
buyer education
process.
64. The purchase process contains within it all
the normal concerns that eCommerce has
focused on – trust seals, easy checkout
process, shipping costs, fulfillment, etc.
Purchase Phase
That magical moment when Charlie goes
from being a Pre-Transactional Contact to
being a customer.
65. The transaction is just
the first kiss – it’s the
start of the long and
sometimes rocky road
that lasting relationships
are built on.
66. All of Corey’s activities and tools to this point
add up to the Cost Of Customer Acquisition
67. Now her focus shifts to increasing Charlie’s
Life Time Value
68. eCommerce
marketers are going
to have to stop
thinking in terms of
COCA:ASP and start
thinking like SaaS
companies –
COCA:LTV. That
second half being the
most important.
-Matt Lauzon, former CEO @Gemvara
70. Moving between phases
To move Charlie from being a one-night-stand to having a long term relationship where
Charlie purchases again and again, Corey needs to build ongoing value by getting to
know him better and providing even more highly targeted content around more of his
desires.
.
Awesome! I
own a
Fakasonic
VT30!
71. Moving between phases
To move Charlie from being a one-night-stand to having a long term relationship where
Charlie purchases again and again, Corey needs to build ongoing value by getting to
know him better and providing even more highly targeted content around more of his
desires.
I wish I could
hear the game
better…
Awesome! I
own a
Fakasonic
VT30!
72. Re-Purchase Phase
It’s an infinite loop - a never ending cycle. Starting a
relationship is easy, growing and maintaining it is hard.
73. Moving between phases
For Charlie to go from being a customer to being a promoter, he has to be delighted.
Proactive customer service, solving problems proactively, and creating content that’s
useful to Charlie and makes his life easier will encourage him to recommend you.
I’ve purchased
from Fakasonic
once or twice.
74. Moving between phases
For Charlie to go from being a customer to being a promoter, he has to be delighted.
Proactive customer service, solving problems proactively, and creating content that’s
useful to Charlie and makes his life easier will encourage him to recommend you.
I’ve purchased
from Fakasonic
once or twice.
I actively recommend
Fakasonic when I
can.
75. Corey needs to help Charlie has a
personified relationship with Fakasonic and
actively remain engaged in his life as a
brand.
Promotion Phase
Charlie “loves” you – and he’s willing to
help you grow as a business.
76. “But I get my business through
word-of-mouth…”
…there’s a math for that!
On a scale of 1 to 10 (one being very unlikely and 10 being very
likely), how likely are you to recommend the Fakasonic VT30 to a friend
looking to purchase a new TV?
78. I'm convinced that in price-
competitive
industries, eCommerce
companies need to position
themselves in their customer's
minds as the group of people
who can help them with their
needs and questions (not just
about the company's products
but about the industry as a
whole – perhaps even helping
them with competitors'
products) and that if
successful, sales will follow. But
I think I'm in the minority at our
company in that conviction.
<grin>
80. Define your buyer personas using a narrative
Define what characteristics or data identifies your
customers in different phases
Target the right content, engagement, and experience to
people in each phase
Be sure you’re tracking the right metrics in each phase
Calculate and track your LTV:COCA and segment by
buyer persona
What can you do?
81. You can request a free eCommerce Marketing Assessment by going to
www.HubSpot.com/eCommerce
Confused? Excited? Ready to go?
And don’t forget to download Magento’s Ebook:
http://bit.ly/MagentoEbook
Danny: Our friends at Forrester Research have an visualization that I really love, but it’s missing some key concepts.
Danny
Danny
There’s no reason to think that our jobs are going to continue to be this easy. Some of the greatest minds of our time are working on creating an online user experience that people love and converting that into units of value.
Danny
There’s no reason to think that our jobs are going to continue to be this easy. Some of the greatest minds of our time are working on creating an online user experience that people love and converting that into units of value.
There’s no reason to think that our jobs are going to continue to be this easy. Some of the greatest minds of our time are working on creating an online user experience that people love and converting that into units of value.
There’s no reason to think that our jobs are going to continue to be this easy. Some of the greatest minds of our time are working on creating an online user experience that people love and converting that into units of value.
There’s no reason to think that our jobs are going to continue to be this easy. Some of the greatest minds of our time are working on creating an online user experience that people love and converting that into units of value.
Danny
Danny
Danny:Keep in mind that each macro-persona is essentially an entirely different business – you can and should track the entire lifecycle of your business’s unit economics by persona so that you know what kinds of customers you’re attracting with what types of content, how valuable they are, and adjust your inbound marketing accordingly.
Danny
Danny
Don't focus on the transaction focus on the relationship
Danny
Danny
Danny
Danny
Danny
DannyWhat Corey wants here is for Charlie’s pain points to align with something her product solves for. He may not know or have yet defined exactly what his pain points are.She needs to educate Charlie so he can define & articulate his desires, as well as make sure Charlie can find her and identify her as a potential solution.We hear a lot that “my TV sucks” or “my phone sucks” – we need to help consumers articulate why they feel it sucks and what they really want. They don’t know what they don’t know – if Fakasonics LT30 has an awesome feature that separates our product from another company using tiny elves inside the TV that render the picture with precise color matching using Elf-o-vision, but Charlie can’t articulate that it’s his colors that look weird, he’s not going to consider Elf-o-vision to be a competitive advantage and it’s not going to influence his buying process.
Danny
Danny
DannyI’ll give you a HubSpot - Magento example here. We stay at the cutting edge of marketing theory and teach people what kind of marketing methodologies are effective in an ever-changing world through webinars like this. Because we’re at the cutting edge of theory, we build our software around what we think is going to make people effective. It’s a self-perpetuating cycle of finding out what’s going to help your customers, building your product to be the best solution, then educating your customers on those pains even if they didn’t know they had them yet. Google Glass is another great example of this. Most consumers aren’t really familiar with the concept of wearable computers except in the science fiction context nor are they familiar with how integrated information systems can help them solve actual real-world problems – like where’s the closest place to buy beer. Google has had to invent a market for that and educate consumers about it. The iPhone is another great example – coming around in an era with phones were literally just phones with a few additives such as simple games like Snake, the iPhone identified a need for an integrated consumer electronics platform and educated people about why they needed it by promoting their use cases.
DannyTalk about how powerful an influence reciprocity has on building trust.
DannyWhat should you accomplish while providing a relevant user experience to Charlie during his Awareness Phase? Building credibility. Think about people that have had credibility with you in the past – odds are it’s because they taught you something. School teachers, business mentors, even really great bosses – they’ve all been able to influence and persuade you because they’ve been able to teach you something.It’s a legitimate function of marketing to work on building the reputation of the marketing engine – whether it’s branded or personified – so that recipients are more receptive to persuasive messages.
Sam (for the personal story)The guide is particularly useful to me because I’m allergic to most metals except stainless steel – no idea why – but I didn’t know that they white gold for wedding rings was an option so she could match my silver color.
Sam
Sam
Funny enough, when I was buying a new HDTV I couldn’t really find any retailers with great content – only review websites. The retailers were letting the review websites control the entire conversation. As you can see, this result is more than 8 months old – and age impacts rankings - with a few hundred social interactions – and social shares also strongly impact rankings. It’s impressive, but not insurmountable.
Funny enough, when I was buying a new HDTV I couldn’t really find any retailers with great content – only review websites. The retailers were letting the review websites control the entire conversation. As you can see, this result is more than 8 months old – and age impacts rankings - with a few hundred social interactions – and social shares also strongly impact rankings. It’s impressive, but not insurmountable.
As often as coupons are used, this is really the only phase where they belong. They’re not useful for attracting new contacts, because you’ll attract the wrong kinds of one-night-stand customers. It’s also not useful for blasting your past customer base with, because you can take people who weren’t highly price sensitive before and make them that way by framing the conversation entirely from the perspective of price. Coupons should be used only to accelerate the path through and prevent drop off from the intent phase.
What should you accomplish while providing a relevant user experience to Charlie during his Awareness Phase? Building credibility. Think about people that have had credibility with you in the past – odds are it’s because they taught you something. School teachers, business mentors, even really great bosses – they’ve all been able to influence and persuade you because they’ve been able to teach you something.It’s a legitimate function of marketing to work on building the reputation of the marketing engine – whether it’s branded or personified – so that recipients are more receptive to persuasive messages.
People aren’t going to buy from you until you’ve addressed these three appeals. If they don’t trust what you’re saying or trust you know what you’re talking about, they won’t buy from you. If they aren’t convinced that pricing or features & functionality don’t make sense for them, they won’t buy from you. And if buying from you doesn’t make them feel positive emotions that reinforce their decision, they’re not going to buy from you.
Many marketers call it a day here and put a victory on the board.
DannyWe have to start considering customers acquired as a unit of economic investment
DannyWe have to start considering customers acquired as a unit of economic investment