EIA2018Portugal - Pedro Pereira - Marketing Automation
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Pedro Pereira - Marketing Automation
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EIA2018Portugal - Pedro Pereira - Marketing Automation
- 1. Marketing Automation EIA 2018 Head of Marketing Products Farfetch Pedro Pereira
- 2. 2 1. Story of FF as a startup The inception.. The model.. 2. My story with startups.. User discover, Marketing channels 3. Key learnings from working in marketing automation What, When and How… Who I will leave with you
- 3. Available in: Website (Desktop / Mobile / Tablet) App (iOS, Android) WeChat (Store and Mini App) 3 Farfetch Marketplace S T O R Y O N E
- 4. Founded Farfetch Group M I L E S T O N E S Farfetch is an Omni-channel Platform for the luxury industry, connecting customers in over 190 countries with items from over 700 of the world’s best boutiques and brands from over 40 countries. Farfetch ensures a truly unique experience with the ability to shop the most extensive selection of luxury on one platform. Series A Investment Browns Black&White F90 SoF JD.com Style.com Harvey Nichols Chanel Burberry Chalhous Group 2010- 2015 2018 4 2008 2017
- 5. 5 A marketplace provides access to products or services that are not necessarily owned by the provider of the marketplace that controls the transaction. Examples: E-bay, Amazon, Farfetch.com, Etsy, Airbnb, Booking.com, … Marketplace A Platform provides a stage for applications that users actually need. Example: Apple Store, Android, WeChat, Windows, OSX, Chrome, Facebook,GitHub… Platform Farfetch APIs 3rd Party 3rd Party 3rd Party 3rd Party User User User User $$ $$ $$ $$ $$ FF.com User
- 6. 6 SoF S T O R E O F T H E F U T U R E Vast majority of sales still happens in retail stores. Currently online is growing massively, but still accounts for a small % of total. The bricks and mortars world hasn’t yet reaped the complete benefits of digital transformation. Store of the future aims to improve retail efficiency and experience by empowering it with customer data. B L A C K & W H I T E Fully-fledged agency and white-label solution for brands, where we can make use of our platform to build another website and then deploy in a modular way whatever services or infrastructure they want to use. From customer service to payment to online marketing! BW
- 7. 7 1. Story of FF as a startup The inception, the business model, marketing channels.. 2. My story with startups.. User discover, Marketing channels 3. Key learnings from working in marketing automation What, When and How… Who I will leave with you
- 8. 8
- 9. 9 Marketplace Loop C u s t o m e r S h o p p i n g P r o s p e c t L e a d A c c o u n t D a t aD a t a P a i d / E a r n e d / O w n e d M e d i a P o l a r i z a t i o n P a i d / E a r n e d / O w n e d M e d i a P o l a r i z a t i o n
- 10. 10 Marketplace Loop C u s t o m e r S h o p p i n g P r o s p e c t L e a d A c c o u n t D a t aD a t a P a i d / E a r n e d / O w n e d M e d i a P o l a r i z a t i o n P a i d / E a r n e d / O w n e d M e d i a P o l a r i z a t i o n N P S > R e f e r r a l P r o g r a m N P S > R e f e r r a l P r o g r a m
- 15. 15
- 16. 16
- 17. 17 1st Purchase L O O P S Target Create & Optimize Drive Subscription Drive Purchase S M S P u s h P h o n e E m a i l E v e n t s / M e e t i n g s P r o m o F r e e T r i a l A l e r t s P r o s p e c t u s / c a t a l o g u e D o w n l o a d R e m a r k e t i n g D M P s M a r k e t i n g M i x
- 18. 18 Repurchase L O O P S Buy Good Experience (NPS) Up/Cross Sell Replenishment R e t u r n s C a n c e l a t i o n s E x p e c t a t i o n s M e t A n d - O r W o w F a c t o r A d v o c a c y / L o y a l t y l o o p R e c o m m e n d a t i o n s R e f e r r a l P r o g r a m s L o y a l t y P r o g r a m s L o c k - i n F a c t o r s A c t i v a t i o n C a m p a i g n s
- 19. 19 1. Story of FF as a startup The inception, the business model, marketing channels.. 2. My story with startups.. User discover, Marketing channels 3. Key learnings from working in marketing automation What, When and How… Who I will leave with you
- 20. 20 Eng. Capacity Critical / Deeper integration with the business needed Disruptive tech (core business) / Deadline / Tested Before Build vs Buy Well known Machine like decisions that require little adaptation or learning Repetitive tasks / Prone to human error tasks Non social / creative / artistic Human processes in Machine to Machine workflows Automate vs Adhoc How and When to Automate
- 21. 21 What am I then automating? E I A Does not include communications/branding piece New Channels New Devices New Geographies New Revenue Streams New Verticals/Categories --- Feeds Management Data driven content generation User generated content Advertising models PMP/SSP/DMP integration Content translation GMV | Revenue | RPC Avoid Duplicate payments Improve Budgeting --- Campaign Attribution Sales Cancelations / Approvals Promo/Commission/Bidding Optimization Cost of Sale | ROI | ROAS | PAM Repetitive tasks -- Campaign automation (Creation, Optimization)- Diagnosis Analysis Anomaly detection Reporting and Tracking GMV (or similar) per Head
- 22. I M A G E T E X T I M A G E T E X T 22 Landing Page Creation for lead generation Unbounce Easy and dirty integration between different platforms Zapier Enrich your user’s profiles and segment before communication GetVero Become independent of your development team Google Tag Manager Analyze trends, create audiences Google Analytics A/B test your landing pages Google Optimize Analyze your data to squeeze the maximum revenue out of each dollar Google Data Studio Easy to implement Referral Programme MentionMe M A R K E T I N G A U T O M A T I O N 3rd Party Providers
- 23. 23 Marketplace Loop C u s t o m e r S h o p p i n g P r o s p e c t L e a d A c c o u n t D a t aD a t a N P S > R e f e r r a l P r o g r a m P a i d / E a r n e d / O w n e d M e d i a P o l a r i z a t i o n P a i d / E a r n e d / O w n e d M e d i a N P S > R e f e r r a l P r o g r a m P o l a r i z a t i o n
- 24. Thank you
Notas do Editor
- Hi everyone! My name is Pedro and I the Head of marketing products at Farfetch.
- Today I will be telling you 3 stories… the story of FF (as a startup).. And how that can connect with you right now.. Or maybe in the near future.. My story with startups.. Particularly marketplaces… Key learnings from working in marketing automation…
- 1st Story… Farfetch… Farfetch is the global technology platform for the luxury fashion industry It is easy to use.. You go online, look for that amazing jumper that will make you standout or bag that shows your creative personality, and with a couple of clicks you have it delivered … Easy right?
- Not so much… it’s been a arduous work… on the background.. Farfetch didn’t start like it is right now.. Jose Neves (our founder) started by having a shoe design brand.. He worked on it for several years until once he was at Paris Fashion week and the idea of a a virtual boutique marketplace came to mind.. Local businesses were not doing great.. And they didn’t have any experience in etailing… a place where boutiques could sell to the world and keep their identify would be revolutionary… Since launch ..Farfetch grew to to 2M Customers in more than 190 countries…. and for that to happen.. for the past 10 years Farfetch has been changing, evolving, adapting... Like you will surely do during the course of your entrepreneurial life….
- So it didn’t stop here! We started as an online marketplace for stores and independent boutiques … but true to our vision .. became a platform. We envolved .. So that boutiques to keep their own identity .. For them to be able to sustain themselves and grow and keep investing and nurturing new designers..… Lets make a pause and take some key learnings: Adapting is key. Your business will have to change, but that is ok as long as the vision is still there. For those that don’t know I can also highlight the differences between a marketplace and a platform. FF kept reinventing itself and moved to become a fashion tech platform.. (highlight some differences between marketplaces and platforms)
- A Marketplace is a very interesting business.. And don’t forget (if you are building one)… it’s is only really valuable if it ads value to both sides of the market (supply and demand) and is not just acting as an intermediary… Well, FF as a platform it allows partners like the ones here to having their own websites, to use search technology, recommendation or communication services.. connecting the online and offline retail. So if you want to track customers coming to your store using SoF FF technology or build a website you can.. (speak about shop floor app or magic mirror)
- 2. Second story Although my history with fashion is relatively recent, my journey with technology started a couple of decades ago when I was a around 6… I took a part my first toaster … later 11 disassembled my first computer… back then I used keep keyboard shortcuts stuck with paper.. To keep doing the same thing.. I realized that a computer could do everything I was doing but faster.. And wouldn’t have to go to bed and sleep.. Like I had to…
- This led me to engineering school.. And software development for 3 years… After that I went for a career change… from doing (as an engineer) to pushing it to other people to use it (marketing) .. Currently in Product.. I try to worry more in building the right thing to start with (product)..
- Trying to built on what I have learnt I ended up drawing a circular workflow that have applied to most businesses. Many times as a baseline marketing and product automation. Of course this will change depending if you have a B2B, B2C and how big/narrow is your B and C. There is a lot to take in from this single example so stick with me. (explain example)
- Trying to built on what I have learnt I ended up drawing a circular workflow that have applied to most businesses. Many times as a baseline marketing and product automation. Of course this will change depending if you have a B2B, B2C and how big/narrow is your B and C. There is a lot to take in from this single example so stick with me. (explain example)
- Example from farfetch on the demand side.. You go to google searching for some gucci shoes...
- You land at farfetch and you choose the right shoe for you
- You might be targeted through an onboarding journey if we see you are not converting.
- And later on receive specific emails tailored to you
- The idea is that this will bring you back if we didn't for instance had your size, price or model the first time .
- If you do this really well, then you can think about referrals. Referrals are specifically a hard thing. Depending on when you ask for a referral and what do you offer as an upside of doing it. Ask it after a bad experience or no experience and people might not use them… Ask them with too much of an upside people might delay their own purchase just to wait for others to join.. The important thing is that it should create a positive feedback loop... For dropbox.. Extra space.. When to ask? When people are running out of space.. For Airbnb.. When you went through a great experience and want to share it with yours friends and have more of it… discounts for both. Think about the happy moments of your experience. Specifically on referrals, take time to understand the positive and negative impacts on doing them...... When to ask for the referrals and what to offer as an upside and to whom....
- Lets now go deeper.. So.. depending if you are going through this discovery->purchase funnel the first time or tenth time after you have bought…. You will have different objectives. You first need to understand your Target... Who are your customers Why are they using your product. What problem are you solving and to whom are you solving it to... Get to know your audience if you don’t already.. Understand their dreams, hopes, fears and insecurities.. This will help later on defining or scaling marketing channels... Don’t let personas determine your product.. Behaviors or jobs to be done (or problems to be solved) should be the focus... This takes you from having a target to and driving people to your website or app to ...keep in touch with them and nurturing them. This can be done in a number of ways…Last Minute Deals, New Products, Products that go well with other products, ... and different channels Push, SMS Email, etc.. Finally I have included the data piece here represented by a Data Management Platform that can help you slice and dice your customer segments and do this all over again more efficiently.
- Once someone buys something then it is a whole different game.. It is about retention.. You will soon realize that keeping a customer is much cheaper than acquiring a new one.. New markets normally are about acquisition ... Mature markets are about retention, but this will have to be adapted to your business. Being an advocate and loyal customer depends very much on your experience.. And this one on your expectations.. Explain graph
- 3rd story is YOUR story but I will get it started.. At least trying to answer 2 questions that if you don’t have already… you will soon…
- We spoke about loops... but when/how to implement them. (When) should I automate in marketing (or even in general) Machine like decisions and very defined rules Repetitive tasks Use humans for human jobs like creativity and non deterministic behaviour. (HOW) If I decide to automate, should I use a 3rd party or build inhouse Do you have the engineers to do it? Is it critical for your business and do you have specific needs no one can cater for? Have you tested it before and are sure what you should build?
- What is the purpose of automation in marketing... So what does automating the loops I showed you mean? Here are some examples for the 3 main KPIs for a marketing team.
- Now Applying some tools to the examples that I gave before. Because many of you won't have the budget or the resources or the time to develop in house.
- How does this look? Unbounce for landing pages Tag manager