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Omnichannel Marketing: What it means and how to accomplish it

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Omnichannel has been buzzing for over a year and still hasn’t lost its ring. Yet, despite the fact that we are surrounded with omnichannel references every day, the concept still seems slightly out of reach. What really is omnichannel? How do we achieve it? What’s holding us back? What about our audiences?

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Omnichannel Marketing: What it means and how to accomplish it

  1. 1. 1 Omnichannel Marketing What It Means + How To Accomplish It. Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. September 2014
  2. 2. 2 Electronic Dance Music (EDM) Producer & DJ Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Age: 26 Brought in a mighty $16m in 2013 Instagram followers: 1.5 million Soundcloud followers: 4.5 million Twitter followers: 3.79 million YouTube subscribers: 8.58 million Facebook fans: 18.5 million #icebucketchallenge: 796,000 First album downloaded 41,000 times in its first week and 6,000 hard copies were sold.
  3. 3. 3 Good Afternoon Chris Paradysz co-founder, co-ceo Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Michael McVeigh VP, Advisory Services
  4. 4. 4 The World Has Changed Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.
  5. 5. 5 Is Anyone Doing It Right? My Macy’s: Stores Are Also Fulfillment Centers Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Sales Associates Think Omnichannel: Products From Stores Or Online Direct To Consumer Apps: Out Of Stocks Ship Advertising Budgets: Omnichannel New Concepts: Test Online
  6. 6. 6 What’s The Role Of Content? It’s Redefining The Market…What A Summer At the end of the day, it’s the consumers’ world, and control has shifted. How far, we’ll have to watch for, but I’m betting that those that create and innovate and the people who crave it will be Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. doing the driving. Netflix paying $2M per episode for James Spader’s ‘BlackList’ and $1.75M for new show, ‘Gotham’ Mr. Murdoch’s almost-deal for cable domination with its $80B rejected offer for TW Cable.
  7. 7. 7 What’s The Role Of Content? It’s Redefining The Market…What A Summer Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. The most popular YouTuber on planet Earth, gamer / commentator , Pewdiepie with 30 million subscribers, pulls in nearly $1.6 million a month. Kim Kardashian The infamous socialite has 23.5 million Twitter followers and 18 million Instagram followers. She released the game “Kim Kardashian: Hollywood “ which generated $1.6 million during its first five days, and is projected to earn Glu Mobile $200 million by the end of the year.
  8. 8. 8 What’s Changed? The “Asks”… Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.
  9. 9. “Omni means “all.” “Channel,” in this context is a “means of communication.”* 9 Fights fragmentation to achieve customer-centric foundations  Builds campaigns from the point of view of the customer  Drives content by unique customer behaviors and histories Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.  Operating in multiple channels or simply measuring all channels  Driven from the perspective of the brand  Specific to “shopping” What Does It Mean? There’s Still Some Confusion What It Is What It Is Not *Source: Winterberry Group, Taking Cues From the Customer, June 2013
  10. 10. 10 Is It Necessary? Yes. Take A Look At How Customers Engage Time on Mobile Devices Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Source: Google 5 hrs & 46mins / day vs. 2.5 4 yrs ago 50% of users are shopping on mobile devices 90% of users reference multiple devices Information Sources Shoppers search on avg 6x before conversion 2013 avg # of sources consulted in a purchase: 12 vs. 2010, avg number of sources consulted in a purchase: 5 Seamlessness 32% of Conversions BEGIN with a mobile device 67% more likely to convert on a mobile optimized site Using More Devices Consulting More Sources Demanding Seamless Experience
  11. 11. 11 Are My Competitor’s Doing It? Yes. Marketers Are Investing Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. *Source: Winterberry Group, Taking Cues From the Customer, June 2013
  12. 12. 12 Is it Hard? The Challenges  Fear of the strategic overhaul that Omnichannel implies  Common practice to separate digital and offline groups  Fractured & isolated capabilities contradict everything Transparency The key to successfully leveraging data across all touch points to create a comprehensive view of how customers behave from channel to channel to understand (and optimize) the experience. Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.
  13. 13. 13 So…What Do You Do? Start With Your Audience To set the stage for long-term success, the conversation must be driven by your Audience Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Who are they? What do they care about? What are their preferences? KNOW YOUR CUSTOMER EXPERIENCE Understand customer profiles to develop a marketing recipe strategy that will drive engagement.
  14. 14. 14 So…What Do You Do? Build The Right Recipe Contact & Engage Across the Right Channels… Segment 1 Segment 2 Segment 3 Segment 4 Marketing Platform Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Contact Strategy A Contact Strategy B Contact Strategy C Data and Behavioral Driven Segmentation Active Lapsed Prospect Personalized Contact Recipe Test Strategies Creative and Copy Personalization Landing Pages Frequency Offers Segmentation Based on Attributes & Activity Existing Contact Strategy D TV Print Radio CC DM Email Display Search Social Mobile Site Retail CRM Database
  15. 15. 15 Quick Start Guide to Omnichannel Data Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.
  16. 16. 16 All I Ask Is A Tall Ship And A DASHBOARD To Steer Her By Dashboards that Navigate Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.
  17. 17. 17 All I Ask Is A Tall Ship And A DASHBOARD To Steer Her By Dashboards that Navigate ‘…---…’Boards Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.
  18. 18. 18 All I Ask Is A Tall Ship And A DASHBOARD To Steer Her By Dashboards that Navigate ‘…---…’ Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Boards  Spreadsheets with 30,000 foot view but no way to peer deeper -- OR – provide granular level detail with no way to view from a higher perspective  To view a different time period or segment, you’ll need a different report  Show only ‘what happened’, not ‘what happened versus plan’ Scale up to executive level and drill down to campaign, channel and customer segmentation  Interactive by time period with filters to answer questions as they occur to you  Displays Key Performance Indicators (KPIs) versus goal and budget
  19. 19. 19 You May Need A New Dashboard, IF…. Weekly report attachments take up over 90% of your inbox storage… …and also amount to more than 90% of your unread messages. Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.
  20. 20. 20 You May Need A New Dashboard, IF…. Weekly report attachments take up over 90% of your inbox storage… …and also amount to more than 90% of your unread messages. The Fortune Cookie Test: Are your dashboards more insightful than a fortune cookie and more likely to be opened? Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.
  21. 21. 21 The Good Ole Days: Benchmarking Against Competitors Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Visits Share
  22. 22. 22 An Omnichannel World Means Competitors Can Grow Quick 18 Month Leader / Lagger Report Email Traffic to Shopping – Sports Websites Decline Growth Consistent (-) Fluctuating Consistent (+) Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.
  23. 23. 23 Fast Movers Often Leverage New Media Better Email Traffic Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. - What tactics do my digital competitors use to grow, engage and retain customers more effectively in this channel? - What should I emulate?
  24. 24. 24 Be Vigilant Across Channels Search Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Social
  25. 25. 25 Multichannel Attribution – Who’s Adopting It? As of November 2013, only 18% of marketers were practicing sophisticated cross-channel Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. attribution. As of September 2013, only 2% of marketers use a combined attribution strategy to achieve omnichannel success. Source: eMarketer, The Omnichannel Challenge, February 2014 Multichannel = Attribution “Pure Play” Vendors
  26. 26. 26 Pure Play Vendor Pixels Observed Automotive Biz/Finance Corporate Presence CPG Education Health/Beauty Manufacturer Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Media Retail Services Travel
  27. 27. 27 Maybe Not All, But Certainly All Kinds Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. $ $$$ Not Transactional Highly Transactional
  28. 28. 28 Omnichannel Data – Takeaways Cross-Channel & Cross-Device Attribution is Real and Someone You Compete with Is Using It  Someone You Don’t Compete with Is Competing With You, and Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Gaining  If Your Omnichannel Dashboard Reporting Does Not Pass The Fortune Cookie Test – Time to Call for Help
  29. 29. 29 The Fortune Is In Your Hands Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited. Thank You.
  30. 30. 30 THANK YOU! Copyright © 2014 Paradysz and PM Digital. All rights reserved. This information is deemed proprietary and confidential. Unauthorized use or disclosure is prohibited.

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