How CMOs Can Unlock 'Power of One' Marketing

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McKinsey partner Dave Edelman spoke at the June 4, 2014, DMA conference about how companies can be agile in the digital age. He focuses particularly on the organizational and operational implications. Learn more at the McKinsey on Marketing & Sales site [http://McKinseyonMarketingandSales.com]

Marketing Negócios Carreiras

0
There is a difference between offering
digital services and being
a digital
competitor.
@DavidEdelman
Any use of this material without specific permission of McKinsey & Company is strictly prohibited
DMA conference, June 4, 2014
McKinsey on Marketing & Sales

1
1
Shape the Customer Decision Journey
Advocate
Buy
Experience
Consider
Evaluate
Bond
@DavidEdelman

2
Move upstream in the journey: A new house buying model
Matt takes a picture of the house from
his mobile app that instantly shows…
With ability
to schedule
appointment
With latest rates and
approved loan
amount. Flows into
mortgage process
@DavidEdelman

3
Propel the customer through personalization:
“Before-time” credit scoring
How they enter
the site (e.g.,
search,
banner)
Surfing history
(e.g., cookies)
Internet
specific data
(e.g., location,
social media
data)
RISK
MODELS
Segment-specific
websites
@DavidEdelman

5
Optimize for the best interaction at every contact
Model finds best
channels that
match customer’s
choice
Relevant content
pushed to
channels
Incentive to use
digital channel
or download an
app
More customized
script for cross-sell
of cards,
investment,
or other pdts
Highly
personalized
encouragement
to build
balances
Product view Customer preferences Up-sell/Cross-
sell proposition
+ +
Content management
system segregates and
assigns the
information
Credit card
Mortgage
Mutual fund
Insurance
Mutual fund
Underlying model
churns propensity
to buy or to take
another action
@DavidEdelman

6
Non-stop test and learn playbook. On a weekly basis, design
campaigns testing critical drivers of response
Hypothesis
generation
Opportunity
sizing
Customer
insights
Design
Launch &
measure
tests
Design
Targeting
Timing
Merchan-
dising
Offer
Creative
Landing
page
@DavidEdelman

7
Process: Example of agile ‘Test and learn’ approach
Daily
Huddle
Daily
Huddle
WHO  Project Manager
 Marketing Mgr
 Audience/Targeting
WHAT
For 15 min
 Development
 Analytics
 Creative
 Synchronize between “Test and Learn” teams
 Define clear accountability on tasks
 Build cross-functional problem solving & collaboration
 Quality Control
 Marketing Ops
WHERE: War Room
@DavidEdelman

8
A Real-time Engagement Delivery (RED) program
Analytics
Customer data
tracking &
enrichment
Analytical
engine
Specific
customer
recommen-
dations
Cross-channel
micro-
messaging via
rapid test &
learn
Web
enhancement
Mobile
(re)design
Experience
Decision-
making
processes and
tools
Cross-functional
agile teams
Learning
mindset
Organization
@DavidEdelman

9
How will you become an agile, digital competitor?
• What is the upside potential of a new prioritization?
• Where are you in the journey? What stands in way?
• How could you begin to scale personalization and
optimization?
@DavidEdelman

10
David Edelman
Partner and Global Co-Leader,
McKinsey Digital, Marketing & Sales
David_Edelman@mckinsey.com
@DavidEdelman
@McK_MktgSales
McKinsey on Marketing & Sales
Marketing & Sales Videos
Influencer Page
@DavidEdelman

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