ADMA July 2010 - Tim Suther - Hope Is Not A Strategy
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The document discusses the need for companies to improve customer engagement through personalized multi-channel marketing. It presents a capability model for achieving this that includes 4 key parts: 1) reaching and engaging the right audiences through narrowcasting rather than broadcasting, 2) gaining multidimensional customer insights, 3) personalized and coordinated engagement across channels, and 4) delivering ROI through targeting 15-30% of marketing spend on these initiatives. The model is presented as essential for companies to effectively engage valuable customers, connect disparate customer data and interactions across channels, and increase marketing returns.
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ADMA July 2010 - Tim Suther - Hope Is Not A Strategy
- 1. Hope is not a Strategy Driving customer engagement through multi-channel personalised marketing Tim Suther, CMO ADMA Forum 2010 27 July 2010 1
- 3. About Acxiom • Global marketing services and technology company. Focused on audience and customer engagement • #2 worldwide CRM agency • Ad Age 2010 ranking. • Global Facts: • 5,700 clients in 40 countries • 300,000 campaigns/year • 5 billion consumers engaged/year • 1 trillion customer recognition events/year
- 5. A crisis in customer engagement Just 8% of their customers agree Source - Bain
- 6. A crisis in insight & focus… 2Forrester Research
- 7. 3comScore
- 9. Capability model for a connected world Target 15-30% of spend to redirect
- 10. Capability model for a connected world
- 11. 1. Reach/engage your audience Customer value varies greatly + 500% Contribution to Overall Profit 0 Customer Value Segment Top 30% Next 50% Bottom 20% Contribution to Overall Profit - 400%
- 12. 1. Reach/engage your audience Most firms are not getting their fair share of valuable buyers Retailer 1 Retailer 2 UV Index UV Index PersonicX Consumer Segments PersonicX Consumer Segments Cookware/Kitchen Clothing/Apparel Buyer Accessories Buyer UV Index UV Index PersonicX Consumer Segments PersonicX Consumer Segments Acxiom, comScore
- 13. 1. Reach/engage your audience Valuable buyers are hard to recognise Portal 1 Portal 2 UV Index UV Index PersonicX Consumer Segments PersonicX Consumer Segments Portal 3 Portal 4 UV Index UV Index PersonicX Consumer Segments PersonicX Consumer Segments 13 Acxiom, comScore
- 14. 1. Reach/engage your audience Valuable buyers are hard to recognise TV Network 1 TV Network 2 UV Index UV Index PersonicX Consumer Segments PersonicX Consumer Segments TV Network 3 TV Network 4 UV Index UV Index PersonicX Consumer Segments PersonicX Consumer Segments
- 15. Therefore, Most Firms… Under-invest in high value relationships Over-invest in low value relationships
- 16. 1. Reach/engage your audience Narrowcast. Not Broadcast.
- 17. Capability model for a connected world
- 18. 2. Multidimensional Insight What do you see?
- 19. 2. Multidimensional Insight Sorry, there are no silver bullets
- 20. 2. Multidimensional Insight Just about online context/behavior?
- 21. 2. Multidimensional Insight Just about online context/behavior?
- 22. Capability model for a connected world
- 24. Capability model for a connected world
- 25. 4. Personalised & coordinated engagement In the Marketing Democracy
- 26. 4. Personalised & coordinated engagement Illustration When Sue visits a site, audience Meet Sue insights are leveraged to personalise the engagement WE KNOW who she is WE PREDICTED how she may behave WE NOTICED a trigger behavior Create this experience across media / channels
- 27. 4. Personalised & coordinated engagement Illustration When Sue watches TV, Meet Sue audience insights are leveraged to personalise the engagement WE KNOW who she is WE PREDICTED how she may behave WE NOTICED a trigger behavior Create this experience across media / channels
- 28. 4. Personalised & coordinated engagement Illustration When Sue uses her iPhone, Meet Sue audience insights are leveraged to personalise the engagement WE KNOW who she is WE PREDICTED how she may behave WE NOTICED a trigger behavior Create this experience across media / channels
- 29. Summarising the capability model Hidden in plain sight These are the lessons of direct marketing They work across all channels
- 30. Sound Obvious? “… too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us.“ Western Union memo on potential for the telephone, 1876
- 31. Sound Obvious? "We don't like their sound, and guitar music is on the way out.“ Decca Recording Co. rejecting the Beatles, 1962
- 32. Sound Obvious? “Needs a stronger supporting cast.“ “Almost totally free from humor.” Audience testing for Seinfeld, 1989
- 33. Capability model for a connected world Key requirements Differentiated value of customers Partnership ecosystem High performance matching engine Strategy, analytics & creative skills “Logical” central nervous system Personalisation engine
- 34. Capability model for a connected world Delivering ROI Tech Firm $200 million revenue/yr $4.5 million OpEx/yr Retail Bank $100 million EBIT/yr Consumer Packaged Goods Firm $500 million revenue/yr Target 15-30% of spend to redirect
- 35. Capability model for a connected world Delivering ROI Personalised experiences…...4-5X ROI Concentrate ad spend………..3-5X ROI Connect web footprints & outbound messaging….….....2X ROI Connect print & digital…….......4X ROI Connect call center & digital………………………...3-5X ROI Connect mobile & email….….7.5X ROI Connect TV/offline…………….17X ROI Target 15-30% of spend to redirect
- 36. What could have been owned but couldn’t become
- 37. What could have been owned but couldn’t become
- 38. What could have been owned but couldn’t become
- 39. What could have been It’s not enough… A great customer base A great product A great strategy A great team Darwin always wins. Will you?