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Masterclass: Week 1 Acquisition
- 1. Customer Journey: Masterclass Strategies to Acquire, Onboard, Engage & Retain Ryan Bonnici Head of Marketing @ryanbonnici #ETmasterclass
- 2. Meet Ryan • Born & bred in Cronulla • Almond Magnum addict! • Typical marketing guy (just like you maybe!) • Fascinated by the mobile app economy!
- 3. Why Masterclass • Future of Marketing Tour @ Hilton Sydney • Strategy + Software • Learn Today, Execute Tomorrow!
- 4. As a digital marketing pioneer, our mission is to inspire & enable organisations to leverage digital marketing to drive phenomenal business results through innovative customer journey management. customer journey management
- 5. Retail & Consumer Goods Travel & Hospitality Media & Entertainment Internet & Ecommerce Communication & Technology Banking & Insurance Powering Customer Journeys in Every Industry
- 6. 50 Billion by 2020 Connected Devices Web Store CommunityEmailSocial Stadium Highly Connected Customers Truly Connected Experiences Digital & Connected-Product Disruption More Options to Create 1:1 Experiences with Customers MobileProduct
- 7. How It Works • Goal: Reimagine your Customer Journey Strategy • Each class you will map out your current journey & leave with an improved journey • Network and connect with your marketing peers • Attend all sessions to be our first graduation class
- 9. STAGE ACQUIRE ONBOARD ENGAGE ac·quire [uh-kwahyuhr] why: to convert potential and existing customers into CRM / database subscribers, increasing the likelihood that they’ll become regular purchasers. RETAIN Cost Per Click (CPC) / Cost Per Acquisition (CPA) / Revenue Per Subscriber
- 10. Ryan Bonnici Acquisition Strategies Your Strategists Derek Laney Onboarding Strategies
- 11. STAGE ACQUIRE ONBOARD ENGAGE on·board [awn-bohrd] why: to make new members feel like they’re part of the family, getting the inside scoop on each and everything your brand has to offer. RETAIN Open Rate / Click Through Rate / Time on Site / Time to Purchase
- 12. Ryan Bonnici Acquisition Strategies Your Strategists Derek Laney Onboarding Strategies Billy Loizou Engagement Strategies
- 13. STAGE ACQUIRE ONBOARD ENGAGE en·gage [en-geyj] why: to keep your subscribers happy and interested in your brand by providing what they want, when they want it, and via what channel. RETAIN Average Order Value (AOV) / # Engaged Channels / Frequency of Purchase
- 14. Ryan Bonnici Acquisition Strategies Your Strategists Derek Laney Onboarding Strategies Billy Loizou Engagement Strategies Karli Smith Retention Strategies
- 15. STAGE ACQUIRE ONBOARD ENGAGE RETAIN re·tain [ri-teyn] why: to retain existing customers and prevent them from becoming un-engaged, through targeted re-engagement + win-back strategies. Customer Lifetime Value (CLTV) / # Referrals / # Service Enquiries
- 16. 1. Phase One Acquisition 2. Group Activity Current Journey 3. Example Journeys Sally, Ben & Tracey 4. Key Strategies Acquisition 5. Group Activity Future Journey 6. Next Week Onboarding Today’s Agenda
- 17. STAGE ACQUIRE ONBOARD ENGAGE ac·quire [uh-kwahyuhr] RETAIN
- 18. 63% of marketers are focused on acquiring new customers to grow their customer base Source: Marketing Sherpa Benchmark Report, 2013
- 19. Only 17% of marketers believe their customer base is rapidly growing as a result of existing tactics. Source: Marketing Sherpa Benchmark Report, 2013
- 20. 60% of global customers are willing to pay more for a product if the brand delivered a positive customer experience Source: Working Three Report, Mark Cameron
- 21. STAGE ACQUIRE ONBOARD ENGAGE RETAIN Key Acquisition Strategies Social Acquisition : Use fans, followers & ‘look-a-like’ audiences to help grow the size of your database. Mobile Acquisition: Use above-the-line or in-store messaging to source opt-in via via SMS/mobile or in-store text responses. Web Acquisition: Use web visitors and grow your database.
- 22. Tech Tracey - Media Journey with Mashable - (Web Acquisition) Banking Ben - Banking Journey with CommBank - (Mobile Acquisition) Social Sally - Retail Journey with GlueStore - (Social Acquisition)
- 23. Meet Sally • Female, 25 years • Lives in Glebe • Uni student, Art major • Works part time • Loves to buy clothes
- 24. Retail Customer Journey – Social Opt In Twitter conversation Facebook ‘like’ Social retargetting Sponsored post coupon download In-store acquisition Social sharing
- 25. Social Opt-In Tab Best Practices • Have your opt-in easily accessible on your page • Describe what subscribers will receive if they opt-in • Make the signup form easy to find and simple About | Photos | Glue Store Magazine | MoreAbout | Photos | Glue Store Magazine | More Hipster Grunge Chic Punk Preppy Skater First Name Email Address Style
- 26. Social Opt-In Other Acquisition Tactics • Grow fans through an integrated competition
- 27. Social Opt-In Other Acquisition Tactics • Grow fans through an integrated competition • Provide valuable content such as a free report
- 28. Social Opt-In Other Acquisition Tactics • Grow fans through an integrated competition • Provide valuable content such as a free report • Connect customer data to paid social channels & find ‘Look-a-Like’ Audiences Your E-Mail, App User IDs or CRM Database user1@gmail.com user1@gmail.com user1@gmail.com user1@gmail.com user1@gmail.com Include or Exclude
- 29. Tech Tracey - Media Journey with Mashable - (Web Acquisition) Banking Ben - Banking Journey with CommBank - (Mobile Acquisition) Social Sally - Retail Journey with GlueStore - (Social Acquisition) ACQUIRE D
- 30. Meet Ben • Male, mid 20’s • Post Graduate Student • Needs a vacation to de-stress from studying • Has a bank account with his girlfriend at Bankwest • Loves the cricket!
- 31. Banking Customer Journey – Mobile Opt-In Above the line advertising / billboard SMS opt-in Preference capture Email opt-in
- 32. Mobile Opt-In Best Practices • Provide value first, gather data second.
- 33. Mobile Opt-In Best Practices • Provide value first, gather data second. • SMS = Personal Medium so set expectations around what will be communicated. • Cross-promote opt-in channels to boost the stickiness of brand. Messages CommBank Contact Thanks for opt-ing in to our competition - your entry is now complete! As part of the competition, we will send you 1 ‘saving tip’ per week for the next 4 weeks – it’s the little things that count when it comes to saving. You can opt- out at any time by replying STOP. CommBank We hoped you liked your recent saving tip. So you can continue your great work, you can find more tips on our Facebook page here: http://bit.ly/thgy7
- 34. Tech Tracey - Media Journey with Mashable - (Web Acquisition) Banking Ben - Banking Journey with CommBank - (Mobile Acquisition) Social Sally - Retail Journey with GlueStore - (Social Acquisition) ACQUIRE D ACQUIRE D
- 35. Meet Tracey • Female, early 30’s • Very career oriented • Wants a family soon • Loves staying up-to- date on the latest tech
- 36. Media Customer Journey – Website Opt-In Search Marketing Implicit profiling on website Banner advertising post website abandon Personalised homepage Email newsletter opt-in
- 37. Web Opt-In Best Practices Simplicity is Key Make the sign-up form easy to find on your website and minimise the # of fields required Tech Gadgets Software Hardware Apps Social First Name Interests Mobile Tablets Tracey X X X Manage Expectations Describe what subscribers will receive if they choose to opt-in to your communications. Get Personal with Preferences Allow people to select their interests and honour their preferences – no funny business!
- 38. Web Opt-In Other Popular Tactics • Add email to Adwords sally@gmail.com
- 39. Web Opt-In Other Popular Tactics • Add email to Adwords • Optimise the subscription process for conversion • Explicit vs Implicit Progressive Profiling sally@gmail.com Subscribe to newsletter Privacytracey@gmail.com Tech Gadgets Software Hardware Apps Social First Name Interests Mobile Tablets Tracey X X X
- 40. What information are consumers giving you? ‣ Where onsite are they spending time ‣ What ad channel did they come from ‣ What actions do / don’t they take ‣ Email address ‣ Name, address, phone number ‣ Preferences, interests, habits IMPLICIT WHAT USERS ARE DOING EXPLICIT WHAT USERS ARE SAYING
- 41. Tech Tracey - Media Journey with Mashable - (Web Acquisition) Banking Ben - Banking Journey with CommBank - (Mobile Acquisition) Social Sally - Retail Journey with GlueStore - (Social Acquisition) ACQUIRE D ACQUIRE D ACQUIRE D
- 42. Acquisition Takeaways • Provide real value • Don’t be creepy • Respect subscriber preferences • Personalise the experience
- 43. Acquisition Further Reading • “Growth Hacking”
- 44. Acquisition Further Reading • “Growth Hacking” • Funnel Optimisation
- 45. Acquisition Further Reading • “Growth Hacking” • Funnel Optimisation • User Interface Testing
- 46. STAGE ACQUIRE ONBOARD ENGAGE ac·quire [uh-kwahyuhr] why: to convert potential and existing customers into CRM / database subscribers, increasing the likelihood that they’ll become actual purchasers. RETAIN
- 47. STAGE ACQUIRE ONBOARD ENGAGE RETAIN Cost-Per-Click Finance & Insurance: $20 - $40 Retail +& eCommerce: $1 - $5 Travel & Tourism: $2 - $8 Home & Garden: $5 – 9 PCs & Electronics: $10 - $35 Automotive: $2 - $16 Internet & Utilities: $8 - $26 Business & Industrial: $4 - $13 Source: NowSourcing.com & Google
- 48. STAGE ACQUIRE ONBOARD ENGAGE on·board [awn-bohrd] why: to make new members feel like they’re part of the family, getting the inside scoop on each and everything your brand has to offer. RETAIN Open Rate / Click Through Rate / Time on Site / Time to Purchase
- 49. What Next • Exchange contact details with the people from your table • Stick around for a light lunch, or to ask any questions about today • See you next week – same time, day, venue!
Notes de l'éditeur
- Welcome everyone, myself and the entire ExactTarget team are thrilled to have you here for the first installment of our Customer Journey Masterclass! For those of you that I didn’t get the chance to meet during breakfast, my name is Ryan and I run marketing for ETMC within the Asia Pacific region. Now, before we begin – any questions as we go, feel free to tweet me at my handle above. And on that, lets keep the conversation social – so please use the masterclass hashtag (#ETMASTERCLASS) so everyone else in the room can join in. Billy Story about dinner party, real estate agent Thinking too much about selling to you, vs the experience Loyalty to brands – have you ever felt loyal before they were loyal.
- So… a little about me. 1st - Born & bred in Sydney – which unfortunately means, I’m quite a fan of the budgy smuggler (much to my girlfriends dislike) 2nd - Ever since I was little, I’ve been ob-sessed with Almond Magnums (such a quality icecream!) 3rd – I’d say I’m your typical marketing guy (potentially similar to many of you). 4th – And last but not least, I’m obsessed, and have always been, with the mobile app economy – I’m honestly just fascinated how a little square the size of your thumb, like the UBER app for example, can totally disrupt a marketplace (in UBERs case – taxis & hire cars). It’s truly amazing! So… that’s enough about me for now. Why masterclass?
- Q: Can I get a show of hands, who here attended our Future of Marketing Tour event at the Hilton Sydney a few months ago? So, for those of you that don’t know, we took that same event, and delivered it also to Brisbane, Melbourne, Auckland & Singapore – and the feedback was brilliant! However – at each event, there was always a few people that came up to me after and said… “wow, that looks amazing – we have advanced tech… why can’t we do that?!?” And it hit me - having sophisticated digital marketing software does not guarantee digital marketing success…. Right? You also must know HOW to use it to ACQUIRE, ONBOARD, ENGAGE, & RETAIN customers. Q: Now, can I get another show of hands - who here feels like they could be doing more advanced stuff with their digital marketing? Beautiful – that’s what I want to see! And that really is at the crux of what our 4 Week Marketing Masterclass is all about – educating our customers on best-in-class strategies that can be used across all industries, verticals & business to acquire, onboard, engage & retain customers.
- Now, for those of you that didn’t get the chance to attend our FOM event – here’s a little bit about us. The most important thing I want you to focus on here is our mission – which is to inspire and enable organisations of all sizes to leverage digital marketing to drive phenomenal results And, the way that they do that is through incredibly innovative ‘customer journey management’.
- So speaking of customer journeys - as we were building out the content for today, we looked at all the attendees… and across some of the key verticals we service, we noticed there were a lot of people from: Retail Media Banking What’s interesting about all 3 of those industries is that they are all undergone quite a significant disruption over the past few years Retail – disruption of online on traditional bricks & mortar businesses Media - disruption of e-magazines and online content to traditional print publications Banking – disruption of peer-to-peer lending & digital currencies on the traditional banking model. What I find most interesting about all of these disruptions is that digital has really been the driver behind all of them.
- Now, what’s so exciting about this digital disruption is that the options brands have to create 1:1 experiences with customers has increased - dramatically! In fact, over 50 billion things will become connected by 2020, because everything is now in the cloud. However, where many brands are missing out is they’re thinking of each of these channels in separate silos. And when you look at them individually, you don’t get the true benefit – it’s all about integrating them together into a true customer journey. And that leads me nicely onto how the masterclass will work. STADIUM - TENNIS
- As you probablly guessed, I’ll be running the first class on acquisition. So, what is acquisition?
- At ExactTarget – we view acquisition as the act of converting potential and existing customers into CRM / database subscribers, increasing the likelihood that they’ll become actual purchasers. Note, we’ve said potential and existing – reason being, it’s not always net-new consumers. This could mean getting that person that always checks out of your online store using the ‘guest account’ to setup an account… or getting that in-store purchaser that has never opt-ed in to the loyalty program, to do just that.
- Now, week 2 will be ran by Derek Laney, our Director of Product Marketing. You would have heard extensively from Derek if you attended our future of marketing tour.
- Derek will be workshopping the customer onboarding processes… which is all about…
- Now, for our third week we have the pleasure of learning from Billy Loizou – one of our strategic business consultants from the Melbourne office.
- Billy will be workshopping the engagement stage of the customer journey, which is all about…
- And last but not least, the wonderful Karli Smith, our Principal Biz Con will be running our retention masterclass.
- For the last class we’ll deep dive into how to re-engage a customer (that is not speaking with us anymore)… or win them back (if they’ve divorced us) – costs a hell of a lot more.
- So the format for today is as follows…
- There has been lots of research done around acquisition, specifically around the importance of acquiring new customers, as well as the cost involved. Research by one of our partners, Marketing Sherpa, found that…
- Looked at who’s in the room and we chose 3 personas, and 3 brands they were on journeys with Get to know these golks as they’ll become you new best friends over the following 3 weeks. Describe persona… Ask room for a show of hands if this customer fits their target audience? IMPORTANT: each of these strategies are completely applicable to other verticals – so don’t let the industry story confuse what you take away from the strategy
- So the format for today is as follows…
- ANNIMATE SLIDE
- Looked at who’s in the room and we chose 3 personas, and 3 brands they were on journeys with Get to know these golks as they’ll become you new best friends over the following 3 weeks. Describe persona… Ask room for a show of hands if this customer fits their target audience? IMPORTANT: each of these strategies are completely applicable to other verticals – so don’t let the industry story confuse what you take away from the strategy
- - Talk about nike & other mobile opt-in client success?
- Don’t just focus on data capture. Make sure the value is truly there! Then ask for information. Set expectations of what the user is opt-ing into. Do this either in the initial ad, or in the welcome SMS message.
- Don’t just focus on data capture. Make sure the value is truly there! Then ask for information. Set expectations of what the user is opt-ing into. Do this either in the initial ad, or in the welcome SMS message.
- Looked at who’s in the room and we chose 3 personas, and 3 brands they were on journeys with Get to know these golks as they’ll become you new best friends over the following 3 weeks. Describe persona… Ask room for a show of hands if this customer fits their target audience? IMPORTANT: each of these strategies are completely applicable to other verticals – so don’t let the industry story confuse what you take away from the strategy
- Subscription process – start with email, second page has more (gets around barrier to entry / bounce rate)
- Subscription process – start with email, second page has more (gets around barrier to entry / bounce rate)
- INCLUDE PREDICTIVE INTELLIGENCE WE WILL TALK MORE ABOUT HOW YOU USE THIS DATA DURING THE OTHER 3
- Looked at who’s in the room and we chose 3 personas, and 3 brands they were on journeys with Get to know these golks as they’ll become you new best friends over the following 3 weeks. Describe persona… Ask room for a show of hands if this customer fits their target audience? IMPORTANT: each of these strategies are completely applicable to other verticals – so don’t let the industry story confuse what you take away from the strategy
- Masterclass is about giving you strategies you can go away and implement immediately. We looked at 3 customer journeys across the acquisition phase – many which included multiple tactics The three we looked at in depth were:
- That’s a wrap on acquisition.
- There is one thing that we havent touched on today but we’re all very aware of – the CPA is generally the most expensive part in the customer journey. And we all know that retaining a customer is typically easier and more cost effective than acquiring new customers. So, that is where onboarding will come into play.
- Next week, we have the pleasure of hearing from Derek on some onboarding strategies to take Sally, Ben & Tracey further along their customer journey.