presentación antony mcgregor dey - eretail day méxico 2015

PowerPoint Presentation

Personalizing Commerce: TURNING BIG DATA INTO INTIMATE MOMENTS

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WelcomeAntony McGregor Dey15+ years in Digital MarketingDirector of Marketing at EmarsysSent my first email campaign in 1996!

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10,000+automated programs250,000 campaigns per month390 million personalrecommendations served in a month6 billion+messages a month

Global offices20,000+ active users more than 1,300 customersCollect, store, manage, analyze, 1.6 billioncontacts on behalf of our customersHow Much Data Does Emarsys Deal With?

@antonymdCORE MESSAGE: Introducing the companyVISUAL: Boilerplate slide on Emarsys. Year founded. Map with Global statics to show our experience: emails sent monthly, 1300+ clients, countries we're in around the world. 1.6million people in our database (1/5 worlds population), etc

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The amount of data is growing daily.

@antonymdCORE MESSAGE: Highlight the overwhelming volume of data points marketers have access to now - literally hundreds of variables- credit rating, location, time of year, purchase history, age, origin, etc.

VISUAL: Something showing a lot of data points

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Mobile

Web

Email

SocialNetworks

Event

Video

Location

StoreIncreasing Touchpoints

Customer

@antonymdNetwork power is increasing with multiple mediums (Metcalfes Law)



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No human could compute it all



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B2C customers are irrational actors. Often their preferences are built up over years for unknown reasons.

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The only way to engage with B2C at scale is by using past data married with real-time analytics to predict future behavior.

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There is almost no value in the first purchase its done at a loss. The sale is the beginning of a process not the end of a process.

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The B2C problem is abouthow do I convert leads into recurring customers.

@antonymdSource: Emarsys, August 2015.Average Conversion Rate Per Lifecycle

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Source: Emarsys, August 2015, in Euro.Average Order Value Per Lifecycle

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Personalisation Across Channels40%of consumers buy more from retailers who personalize across all channels 41%of consumers buy more from retailers who send them personalized emails

@antonymdWe Want to be Treated as Individuals84%of consumers would no longer buy from an organization that didnt treat them as an individual.

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Combine multichannel data with real-time customer analytics.

Then use predictions to increase engagement with your customers

@antonymdWhat's the Reality?Automation based on behaviorUse of targeted email

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19%Lapsed customers Selling complementary productsSubscription due for renewalAbandoned basketUp-sellContent viewed on site

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18%

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9%ActivationPost-purchaseUp-/cross-sell promotionalDate triggeredTriggered based on website behaviorEvent countdownWin-back/re-engagementShopping cart abandonment

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Product & Category AffinitiesLifecycle SegmentsPersonalized RecommendationsCustomer Lifetime ValueValue Segments SegmentationThe Data Points That Make Personalization PossibleData from 3rd Party SoftwarePurchaseBehaviourEmail BehaviourAdditionalOffline DataWebsiteBehaviourContact DataCollection

Transformation

ScoringPredictiveAnalyticsSegmen-tationSmartAlgorithmsMachineLearningAlgorithmsDataProfiling

unification

@antonymdThe problem marketers have is that we have lots of different types of behaviour email, website, contact (CRM systems) 2nd/3rd party data sources etc. What are we going to do about all this data, not just warehouse it together, what are you going to do with it to make the first steps to delivering a more personalised experience for your customers.

Think about the end product before you transform your data. What do you want to do? Are we looking to create segments? Personalised content? Where are customers are in their lifecycle?

It doesnt have to complex, recognising a lead from a customer and identifying a high value customers can help us send more relevant marketing messages. ________________________________

Boost engagement with emailWhen to use other channels

One of marketers biggest challenges what channel to use, when to send, what content19

Working Across the LifecycleShopping CartAbandonmentFirst PurchaseWelcomeBrowser BehaviorRefer-a FriendSocialSign-UpEmail Sign-UpPurchaseSocial Ads via Lookalike AudienceNewsletterPreference CenterAnniversaryApologyBirthdayInactive ClientWin-BackSubscriberReactivationDefecting ClientWin-BackSocial AdsSMSUp/Cross-SellIn TransactionalLoyalty ProgramsDedicated Cross-SellFirst Time to ActiveRepurchaseStock Clearance

ACQUIRESuspects

GROWCustomers

RETAINActiveCustomers

CONVERTProspects

WIN-BACKInactive Customers

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Knowing Your Product Vs. Knowing Your CustomerJeansSize:12 Women'sMaterial:Cotton, SpandexColor:Cobalt BlueT-shirtSize:M MensMaterial:SilkColor:OrangeBootsSize:42 MensMaterial:Leather, RubberColor:Tan & Black

@antonymdCORE MESSAGE: Merchandisers know product, but they can't know the customers. You can at-a-glace know everything about a pair of jeans, color, material, size, manufactureProducts are static, but people are constantly changing.

VISUAL: A typical retail store full of clothing

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Girl Age:14 Speaks EnglishWears Size 7 Orange ShoesWoman Age: 56 Speaks SpanishLoves Mermaids$37k IncomeMan Age:38 Speak Germans Loves My Little Ponies$80k Income

@antonymdCORE MESSAGE: It's easy to know a few hundred thousand products intimately at-a-glace, But it's impossible to know even 1 person at-a-glace let a lone at scaleMarketers need to be able to match what merchandisers are good at with what customers need.

VISUAL: Street in New York full of people with personal data points above their heads

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Youve Got to Know Your Customers

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Big Data can createintimate moments whenhumans & machines collaborate.

@antonymdCORE MESSAGE: Marketers still play an important role, humans and machines can work together

VISUAL: Handshake between a human hand and a robot

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#1Deserting Diana.Browses the Cash Cow. Radio Silence.

@antonymdDESERTING DIANA.

When a customer browses a product, displaying purchase intent, it makes sense to store information about the product and category affinity. Regardless of whether they buy.

But where a product was considered but no purchase was made, you can trigger a multi channel revenue recovery programme across social, email and mobile designed to re-engage them. Its time to bounce back.

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Use product recommendations from browsing history

@antonymdThis client uses several tactics to make this email recover abandoned browses:

Firstly, they show the product browsed but theyve also included predictive recommendations specifically, the products that people who browsed that product, then went on to buy. With recommendations, youre far more likely to convert from the email.

Secondly, Discount Supplements also include Click-and-Collect info.

Third: this email is integrated with other channels. Even if Deserting Diana never opens that email when she next visits the Discount Supplements website, she will see those recommended products.

Other clients doing this include:

A luxury retailer, who send a 10% off code 3 days later, including the products and a still not tempted? offer. (Amara)

Australias #1 shopping deals retailer who send a similar email, including in a prime position their 3 USPs around returns, shipping and loyalty rewards. (CrazySales)

Turkeys leading DIY retailer also use this strategy with product recommendations, and theres a whole case study on what they did and how it worked on our website if youd like a take-away example. (Tekzen)

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Step 3: Automate Responses

What if you dont havetheir email?

@antonymdIn the case that you dont have the email address of the person browsing the best move you can make when they indicate theyre leaving your website, is to capture their email address before they go. For example, by using a behavioural overlay that offers an incentive for subscribing. That way you capture an address for life, but can also remarket immediately based on their browsing behaviour.

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#2Hesitant Henrietta.Loads up the Cart.No Follow Through.

@antonymdNext up, we have Hesitant Henrietta. She represents 70% of people that actually make it to the cart. She was so close, but now shes gone: never to be seen again. Unless you do something.

If you are not responding to the strongest possible signal that someone wants to buy, start now.

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Cart Abandonment Recommendations

@antonymd13% of abandoned carts are recovered (not converted), through these emails sent by one of our clients. They focus on inviting customers back to browse the category not just the product.

By including predictive recommendations particularly designed for this purpose you have a far stronger chance of converting. And for customers who dont open the email, it makes sense to re-send, and include recommendations in future emails and on the website for their next visit.

Those sending SECOND abandoned cart emails generate about a 50% increase in abandoned carts recovered compared to just their first abandoned cart mailing.

http://www.experian.com/assets/marketing-services/reports/ccm-abandoned-cart-ebook.pdf

http://link.evmambo.com/u/gm.php?prm=7t7vymTB3Q_292480744_102163_5567

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Personalized productrecommendations

Differentiate contentbased on lifecycle stage

Abandoned Shopping Cart

Facebook ads

Integrated on a multi-step multi-channel recovery

A/B testingof timing

Capture moreabandoned carts,based on UnifiedProfile identification

@antonymdBut theres more that you can do. A recovery campaign should be one part of a multichannel programme. You have a sophisticated email: with recommendations, and the content targeted at that specific customers' lifecycle stage, or category affinity, for example. This email can be split-tested, to optimise it (since its so important). And you can combine it with Facebook Ads, and SMS: if the email goes unopened, you still have a strong chance of reaching that customer on another channel30

#3Fickle Fiona.Bought Once.Disappears.

@antonymdIf your visitor has finally become a customer, congratulations: theyre likely to be far easier to convert again.

But that still takes work. Yes, they should probably receive the promotions you send to your active customers (if theyre opted-in) but when theyre just not engaging with you, need a reactivation campaign.

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Fickle Fiona Reactivation Email

@antonymdAnimal Planet Pet Food do just that. By sending a campaign that promotes their direct debit subscription model they converted 9% more first time buyers into active customers. Thats a huge increase in subscription revenue.

Another retailer we know, also use a 15% voucher followed by a reminder email when that 15% off expires. If theyre just not buying, you dont have much to lose with a reasonable incentive.

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#4Golden Gordon. Best Customer.Stops Buying.

@antonymdWith 8% of customers generating 41% of revenue, any loss is a concern. But when your highest spending customers stop buying, its time to givie it your best shot. Its winback time.

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Golden Gordon Reactivation

@antonymdFor one of our clients, a luxury goods retailer, they take this very seriously. They send their best customers a beautiful etched silver loyalty card in the post. After an unusual period of inactivity, theyll ship their customers a luxury Candle Gift to rekindle the relationship. Its retention done well. You can use a similar approach: if there are 30 people critical to your revenue that are leaving: call them.

Animal Planet Pet Food also use an incentivised reengagement campaign for high-spending but defecting customers. This allows them to re-engage and convert 11% of those which actually resulted in an 89% increase in revenue from that segment.

No matter who youre talking to: Fickle Fiona, Deserting Diana, Hesistant Henrieta or Golden Gordon, whats going to make the biggest difference to your campaigns is coverage: Let me explain.

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Email isnt free

Because its so personal its one of the most expensive channels.Quality vs. Quantity

@antonymdCORE MESSAGE: The number of opportunities with customers is limited, you can't send an e-mail every day to everybody. Quality, not quantity- the cost of sending e-mails is not free, the cost is your relationship with your customers. Emails are actually the most expensive channel you have.

Beauty without data is a waste of time - i.e. You can have the most beautiful email ever, but if you send it to the wrong people, it will not be appreciated.

VISUAL: A full inbox, crowded with hundreds of e-mails

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The #1 Factor in Personalization at Scale

ONE UNIFIEDPROFILE

Spent 20min on the site last week,browsing dresses and bags

Opened,clickedin last15 daysBought anexpensivejacket 90days ago

Female Age 29Lives in NYCShoes size 7.5

@antonymdWith most marketing tech, youre limited to the ability to capture customer data after the customer has signed up. But things have moved on and now, with the right tech in place, you dont have to wait for the email address to start capturing data. Emarsys can append a customer's entire history to a record once a customer signs up.

In addition, that history is aggregated from all the devices and channels theyve interacted with you on that means their mobile browsing history is appended even if they sign up using say, a tablet in a different country.

This unified customer profile enables you to reach around 5 times more customers with personalised content and thats informed by more of their behaviour data. As a result, revenue is more likely to be recovered.

We call this Unified Profile and are happy to talk more about the detail of it offline if youre interested in how this can be achieved: but because it makes your customer intelligence so much richer, and because it means you can send more campaigns, it is the #1 factor in revenue recovery.

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ContactTwitter: @Emarsys

Antony McGregor DeyEmail: [email protected]@AntonyMD

www.emarsys.comThe B2C Marketing Cloud

@antonymdCORE MESSAGE: Twitter, E-mail, URL

VISUAL: Twitter, etc. icons

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Youve Got to Know Your Customers

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