Turnkey Personalization Strategies for Localized Marketing
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Personalization remains an elusive challenge for marketers in 2014. But for national brands supported by a corporate marketing department AND a network of local entities/affiliates, challenges with personalization are amplified by fragmented technologies, redundant marketing spend, and issues with brand compliance. While local marketers may be in the best position to personalize the brand for local target audiences, they may not have the tools, skills, or resources to act accordingly. For industries like financial services, insurance, manufacturing, retail, hospitality, and pharma top line growth is heavily dependent on establishing a trusted relationship with customers. But how? Its 2014, but 78% of marketers in these industries support legacy marketing technologies or processes put in place decades ago – and personalization is more of a pipedream than a reality. Maybe it’s time to revisit the concept of personalization. You’ll learn: • How Top Performing organizations support personalization in localized marketing • The role of technology in 2014, and innovations that are literally making personalization turnkey • Trends and emerging tactics to watch out for over the next 1-3 years • Practical advice for improving your marketing personalization efforts
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Turnkey Personalization Strategies for Localized Marketing
- 1. Ian Michiels Principal Analyst Gleanster Research Featured Speakers: WEBINAR COMPLIMENTSOF: Tim Storer President & CEO Distribion
- 2. Ian Michiels Principal & CEO Gleanster Research COMPLIMENTSOF:
- 3. Agenda The Difference between Marketing and Localized Marketing Personalization: Why & How Recommendations and insights to make personalization scalable, realistic, and… TURNKEY!
- 4. TODAY’S STATS PERFORMANCE BASEDALGORITHM All Survey Respondents 2014 Localized Marketing Automation Benchmark Report, n= 240 Top Performers: Respondents that achievedTopQuartile performance in key KPI’s Everyone Else Gleanster Benchmark Stats 2014 Relationship Marketing (Jan. 2014) n= 315 Digital Engagement (Sept. 2013) n= 429 Total survey responses: 984
- 5. Marketing vs. Localized Marketing What do we mean by local marketing? NATIONAL OR GLOBAL BRAND CORPORATE MARKETING TARGETAUDIENCE & CUSTOMERS Challenges: • MultipleChannels • MultipleTechnologies • Multiple Suppliers
- 6. Marketing vs. Localized Marketing What do we mean by local marketing? CORPORATE MARKETING LOCALAFFILIATES TARGETAUDIENCE & CUSTOMERS NATIONAL OR GLOBAL BRAND Challenges: • MultipleChannels • MultipleTechnologies • Multiple Suppliers • Brand Consistency • Local Relationship • LocalTechnologies • Need for Autonomy X
- 7. As if it wasn’t challenging enough? Corporate Relationship Local Relationship What are my preferences? Am I an advocate? How often do I buy? What do I buy? Etc.Etc. Consumer Are these guys working together?
- 8. TheCustomer Experience is NoWalk in the Park 51% 66% 77% 89% 0% 20% 40% 60% 80% Poor data quality Segmentation & Personalization Limitations in marketing tools Fragmented marketing systems Challenges with Managing the Customer Experience for Local Marketers Distributed Marketing Industries * Customer Experience Management Survey, Q1 2014, n=276 * n= 45, Financial Services; Insurance; Retail; Manufacturing
- 9. Challengeswith Local Marketing 36% 43% 51% 65% 94% 0% 20% 40% 60% 80% 100% Orchestration multi-channel campaigns Consistent metrics Getting comfortable with emerging tactics and technologies Lack of local expertise Visibility into campaign performance Barriers to Success for Local Marketers Top Performers * Localized MarketingAutomation, Survey, Q2 2014, n=240
- 10. Why is personalization so important? Consumer to consumer email traffic is expected to decrease over the next 5 years as consumers shift to social media and text messaging. ~Radacati Group 2013 78% of consumers are not loyal to brands. ~ Nielsen There are now ~1B smartphones in the world. 83% of marketers believe personalization and custom content is the future of marketing. ~Gleanster
- 12. Expectations forGrowth and Profitability Are High… with the same budget. 53% 65% 78% 0% 20% 40% 60% 80% Reduce Costs Retain Profitable Customers Increase Revenue Top 3 Priorities for 2014 Top Performers n=69 * Customer Experience Management Survey, Q1 2014, n=276
- 13. You get it, the customer is in control. But what do you do about it? THE DREAM THE REALITY Right message, right time, right offer, right channel • Target your audience as much as possible • Communicate via the customers preferred channel(s) Mantra: Contextual Relevance at Scale “You’re brand is scaring the hell out of me.” “Let me get my wallet.”
- 14. The Real Meat Behind Personalization Average open rates on generic communications have declined 4x over the last 5 years. Personalization in email drives 2-3x higher click- through rates for Top Performers. * Gleanster, Customer Engagement Lifecycle, 2013
- 15. The Real Meat Behind Personalization 74% of local affiliates believe they have a "better level of understanding about local target audiences” than corporate marketing. Local executed mobile marketing campaigns drive 3-9x higher engagement with local target audiences. * StreetFight West Summit, 2013* Gleanster, LMA Survey
- 16. The Real Meat Behind Personalization The digital customer experience is now a source of competitive advantage for Top Performers. 86% of Top Performers rank personalized customer engagement as a top 3 imperative for revenue growth in 2014.
- 17. Personalization is proven to reduce or eliminate marketing fatigue VolumeofCommunications Perception of Fatigue by Consumer Generic Communications SPAMThreshold “I’m done with your brand.” Personalized Communications *Journal of Advertising, 2011, US Low High LowHigh
- 19. In a Distributed Environment Personalization Must Be: Strategic • Linked to Goals • Purposeful • Realistic Scalable • Automated • Must Meet the Needs of All Stakeholders Simple • Low Risk • Low Burden • Low Cost • Minimal Learning Curve
- 20. Strategic: WHAT are we personalizing? MOBILE VIDEO The Customer Experience is whatever your customers expect it to be.
- 21. Recommendations How do you define what to personalize? Ask your customers what channels they prefer to engage in Monitor web behavior – look at times, location, and access on mobile devices Benchmark your competition – what channels are your most successful competitors engaging in Monitor social media for trends in the industry
- 23. Strategic: WHO is personalizing the relationship? MOBILE VIDEO YES CORPORATE YES Sales Owner Agency Marketing Etc.
- 24. Addressing Corporate and Local Needs Can be Challenging CORPORATE LOCAL • Brand Consistency • Visibility • Compliance / Governance • Support and Shared $ • Autonomy • Flexibility • Intimacy • Help from Corporate
- 25. Recommendations Consider some simple requirements gathering: Personalize What? Corporate Marketing Local Marketing Local Sales Reps Collateral Email Microsite Mobile etc First determine who and what, then the how…
- 26. In a Distributed Environment Personalization Must Be: Strategic • Linked to Goals • Purposeful • Realistic Scalable • Automated • Must Meet the Needs of All Stakeholders Simple • Low Risk • Low Burden • Low Cost • Minimal Learning Curve
- 27. Scalable: The average local marketing org manages 5-7 redundant marketing tools MOBILE VIDEO CORPORATE Sales Owner Agency Marketing Etc.
- 28. Scalable: The average local marketing org manages 5-7 redundant marketing tools CORPORATE •Email Service Provider •Customer Datamart •Website •Mobile •Social •Email Service Provider •Social •Email Service Provider •Email Service Provider
- 29. Scalable: Marketers are wedded to legacy systems not built for distributed environments On Premise • Few Core Channels • Traditional Digital Exploded • Social • On-Demand • Mobile Tool Proliferation • Affordable • SaaS • Niche • Local Options Orchestration of a Customer Experience • Centralization • Visibility • Compliance • Brand Consistency Distributed MarketersTechnology Investments Traditional Channels DriveValue Investment in Core Channel Solutions High Degree of Customization Required to Support Local Efforts Local Marketers Invest in their OwnTools Traditional tools built for single function can’t scale…
- 30. What are localized marketing platforms? Localized Marketing Platform Marketing Automation Email Service Provider • Multi-Channel Customization • Autonomy for Regions • Visibility for Corporate • Brand Consistency • Workflow • Compliance • Approvals
- 31. LMAToolsAre Designed to Make Personalization Scalable Multi-Channel Campaigns Email & Landing PageTemplates Workflow and Approval Campaign Reporting Customer Datamart Customer Preference Engine Offer Optimization Engine Integration / API Multi-Channel Campaigns Email & Landing PageTemplates Campaign Reporting Customer Datamart Customer Preference Engine Offer Optimization Engine Integration / API Brand Control / Brand Consistency Workflow &Approval Role Based Security (Corporate & Local) Multi-ChannelTemplates Dynamic CustomizableTemplates Co-Op Fund Management Local Campaign Execution & List Mgmt DigitalAsset Management CORPORATE MARKETING LOCAL MARKETERS Stand-Alone Campaign ManagementTechnology Local Marketing AutomationTechnology Corporate Brand Compliance & Holistic Visibility Local Autonomy
- 32. Recommendations 94% ofTop Performers customize marketing materials at the local level. 79% deploy brand compliant templates (managed by corporate) for local customization. 58% ofTop Performers allow local marketers to execute campaigns independent of corporate.
- 33. In a Distributed Environment Personalization Must Be: Strategic • Linked to Goals • Purposeful • Realistic Scalable • Automated • Must Meet the Needs of All Stakeholders Simple • Low Risk • Low Burden • Low Cost • Minimal Learning Curve
- 34. Simple: WhySimplicity is Key The number one challenge with execution of personalization is expertise. Marketers need trusted data Develop copy and creative Configure the campaign #2 Challenge forTop Performers: Local Expertise
- 35. Recommendations Keeping personalization simple: Limit your dependence on data. Personalizing the salutation of an email or contact information for the dedicated sales rep is very powerful. Depend on local marketers to build the relationship with the target audience. Corporate messaging re-enforces the overall brand Go after the low hanging fruit first – improve core channels that marketers are comfortable with.
- 36. Recommendations Keeping personalization simple: Don’t get to distracted by 1:1 Take little steps to reduce generic communications Segmentation &Targeting is a form of scalable personalization Stay focused by limiting your personalization efforts. Pick 3-5 core customer personas and develop personalized campaigns. Learn the difference between multi-channel and orchestration
- 37. Recommendations Keeping personalization simple: Consider technology options with a rapid time to value. SaaS is a compelling option and it’s affordable Roll-out the solution in phases Give local marketers options on templates, but not so many that the templates become unusable. Pick 2-3 standard metrics to measure personalization efforts. Top Performers use response rates and revenue
- 38. 1. Fragmented technologies are crippling personalization efforts. 2. You can send more communications if they are personalized, without fatiguing customers 3. Customers should dictate which channels you prioritize 4. Top Performers rely on local marketers for personalization 5. Local marketers often lack expertise – simplicity is key, but you must empower them through templates 6. Prioritize by focusing on micro-segmentation for scalable personalization 7. 3 Pillars: Strategic, Scalable, Simple
- 40. Sales & Marketing lifecycle localized, customized & personalized… not National brand advertising.
- 41. Distribion’s Corporate Marketing Campaigns/Programs & Sales Materials Communication Channels Local Producers Local Producers Pre-Packaged Campaigns & Sales Materials Communication Channels Consumers
- 42. Feature
- 44. Ian Michiels Principal & CEO @InsightFanatic Tim Storer President & CEO @Tim_Storer