Forrester Marketing Forum 2013 - Acxiom and Macy's presentation
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Solving for the customer, it's in fashion! This presentation was delivered at the Forrester Marketing Forum 2013 and describes the key enablers to truly customer centric marketing.
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Forrester Marketing Forum 2013 - Acxiom and Macy's presentation
- 1. Solving for the Customer It’s in fashion Tim Suther, Chief Marketing & Strategy Officer, Acxiom Darren Stoll, Group VP, Interactive Marketing & Analytics, macys.com Forrester Marketing Forum, April 19, 2013 © 2013 Acxiom Corporation. All Rights Reserved.
- 2. Unlimited Possibilities Unfulfilled Potential In 2006 37% advertising was wasted Now, it’s 40%
- 3. NO SINGLENO SINGLE VIEW OFVIEW OF CUSTOMERSCUSTOMERS NO DISTILLEDNO DISTILLED INSIGHTSINSIGHTS NO SHAREDNO SHARED INSIGHTS BETWEENINSIGHTS BETWEEN MARKETERS &MARKETERS & PARTNERSPARTNERS 11 DATADATA 33 CONNECTIONCONNECTION SS 22 INSIGHTSINSIGHTS Why?
- 4. NO SINGLENO SINGLE VIEW OFVIEW OF CUSTOMERSCUSTOMERS NO DISTILLEDNO DISTILLED INSIGHTSINSIGHTS NO SHAREDNO SHARED INSIGHTS BETWEENINSIGHTS BETWEEN MARKETERS &MARKETERS & PARTNERSPARTNERS 11 DATADATA 33 CONNECTIONCONNECTION SS 22 INSIGHTSINSIGHTS Why? MarketingMarketing isis disconnectedisconnecte dd
- 5. Breaking through Better ConnectionsBetter Connections Connected dataConnected data Connected partnersConnected partners Connected experiencesConnected experiences Better ResultsBetter Results More precise audience selectionMore precise audience selection More accountable marketingMore accountable marketing Reimagined customer experienceReimagined customer experience
- 6. Solving for the customer Television ad placement analysis optimized buy: cost to reach 1000 buyers: $14 mass buy: cost to reach 1000 buyers: $170 92% improvement in reaching buyers apply CRM data to all media decisions
- 7. Solving for the customer connects all relevant customer data
- 8. BEST CONTEXTUAL BEST DEMOGRAPHIC BEST BEHAVIORAL 550% 1,235% CONVERSION PERFORMANCE: LIFT VS. UNTARGETED MEDIA BEST MULTI-VARIATE 132% 5,450% Connect your data to yield better results:
- 9. Connect advertiser & media partner data to drive better performance
- 10. FINANCIAL SERVICES CASE STUDY •Transition from 100% zip+4 level to 73% individual level asset insights •24% reduction in marketing costs •62% expansion of high value targets •Addressed CFPBand Reg-B Don’t just measure.Don’t just measure. Predict.Predict. ATTITUDE & BEHAVIOR PROPENSITIES Economic Stability Under Banked Penny Pinchers Likely Investors Self Directed / Advice Seekers Low Card Usage more… IN-MARKET PROPENSITIES Mortgage Mortgage Refinance more… ASSET PROPENSITIES Liquid Assets Checking Balances Savings Balances Annuity Balances Securities Values Net Worth Home Values Income Disposable Income Discretionary Spending more… PRODUCT PROPENSITIES Mortgage Second Mortgage Mortgage Refinancing HELOC Auto Loans Student Loans Savings Account Checking Accounts Personal Lines of Credit Overdraft Protection Mutual Funds Annuities 529-Plans Certificates of Deposit Club Accounts Credit Card Debit Card Pre-Paid Card more… BRAND PROPENSITIES (CARDS) American Express American Express Green American Express Blue American Express Gold American Express Platinum American Express Black American Express OPEN Visa Visa Gold Visa Platinum Visa Signatures Visa Small Business Visa Check Card Visa Business Mastercard Mastercard Gold Mastercand Platinum Mastercard World-Elite Mastercard Check Card Discover Diners Capital One more… BRAND PROPENSITIES (BANKS) US Bank TD Bank Wachovia HSBC Chase Capital One Citi Bank Citizens Bank PNC Bank Fifth Third Bank ING Bank Suntrust Bank Wells Fargo Bank of America more… PRODUCT PROPENSITIES Mortgage Second Mortgage Mortgage Refinancing HELOC Auto Loans Student Loans Savings Account Checking Accounts Personal Lines of Credit Overdraft Protection Mutual Funds Annuities 529-Plans Certificates of Deposit Club Accounts Credit Card Debit Card Pre-Paid Card more… BRAND PROPENSITIES (CARDS) American Express American Express Green American Express Blue American Express Gold American Express Platinum American Express Black American Express OPEN Visa Visa Gold Visa Platinum Visa Signatures Visa Small Business Visa Check Card Visa Business Mastercard Mastercard Gold Mastercand Platinum Mastercard World-Elite Mastercard Check Card Discover Diners Capital One more… BRAND PROPENSITIES (BANKS) US Bank TD Bank Wachovia HSBC Chase Capital One Citi Bank Citizens Bank PNC Bank Fifth Third Bank ING Bank Suntrust Bank Wells Fargo Bank of America more… ATTITUDE & BEHAVIOR PROPENSITIES Economic Stability Under Banked Penny Pinchers Likely Investors Self Directed / Advice Seekers Low Card Usage more… IN-MARKET PROPENSITIES Mortgage Mortgage Refinance more… ASSET PROPENSITIES Liquid Assets Checking Balances Savings Balances Annuity Balances Securities Values Net Worth Home Values Income Disposable Income Discretionary Spending more… PRODUCT PROPENSITIES Mortgage Second Mortgage Mortgage Refinancing HELOC Auto Loans Student Loans Savings Account Checking Accounts Personal Lines of Credit Overdraft Protection Mutual Funds Annuities 529-Plans Certificates of Deposit Club Accounts Credit Card Debit Card Pre-Paid Card more… BRAND PROPENSITIES (CARDS) American Express American Express Green American Express Blue American Express Gold American Express Platinum American Express Black American Express OPEN Visa Visa Gold Visa Platinum Visa Signatures Visa Small Business Visa Check Card Visa Business Mastercard Mastercard Gold Mastercand Platinum Mastercard World-Elite Mastercard Check Card Discover Diners Capital One more… BRAND PROPENSITIES (BANKS) US Bank TD Bank Wachovia HSBC Chase Capital One Citi Bank Citizens Bank PNC Bank Fifth Third Bank ING Bank Suntrust Bank Wells Fargo Bank of America more… PRODUCT PROPENSITIES Mortgage Second Mortgage Mortgage Refinancing HELOC Auto Loans Student Loans Savings Account Checking Accounts Personal Lines of Credit Overdraft Protection Mutual Funds Annuities 529-Plans Certificates of Deposit Club Accounts Credit Card Debit Card Pre-Paid Card more… BRAND PROPENSITIES (CARDS) American Express American Express Green American Express Blue American Express Gold American Express Platinum American Express Black American Express OPEN Visa Visa Gold Visa Platinum Visa Signatures Visa Small Business Visa Check Card Visa Business Mastercard Mastercard Gold Mastercand Platinum Mastercard World-Elite Mastercard Check Card Discover Diners Capital One more… BRAND PROPENSITIES (BANKS) US Bank TD Bank Wachovia HSBC Chase Capital One Citi Bank Citizens Bank PNC Bank Fifth Third Bank ING Bank Suntrust Bank Wells Fargo Bank of America more…
- 11. 11 Connect & cultivate your CRM asset Use CRM data to inform every important decision Focus on “what’s likely to be”
- 12. Darren Stoll Group VP of Interactive Marketing Operations and Analytics, macys.com
- 15. PUT THE CUSTOMER AT THE CENTER OF ALL DECISIONS My Macy’s Omnichannel Magic Selling
- 16. RELATIONSHIPACROSS CHANNELS ANDTOUCHPOINTS 16 In Store Circular Catalog Call Center Website Mobile Desktop Email SMS Display Ads Offline OnlineOmnichannel
- 17. WHAT? SO WHAT? NOWWHAT? 17 Service Value EnvironmentSelection
- 18. KEY CUSTOMERDATA POINTS 18 Authoritative view of the customer Direct Mail Promotion Response Style Interests Web Site User Reviews Implicit Interests Category Preferences Mobile Location Apps In Stores Transactions Travel Preferences
- 20. EMOTION /UTILITY /VALUE – PUTTING IT ALL TOGETHER • Macys is unique because we blend and manage the emotion/ utility/ value equation • Provides strong competitive advantage plus guidance for the company 20 Emotion Value Utility
- 21. OMNICHANNEL IN ACTION 21 1. Customer on the website – checking out what’s available 2. Customer on a mobile device – finding a nearby store 3. In the store – making a purchase 4. Signing up for E-receipt by providing her email address at POS 5. Receiving receipt with offers 6. Receiving follow-up emails with special offers
- 22. BUILDING BLOCKS • Customer centricity = Organization, Data and Insights – Organization – The competition is outside Macy’s – Data – Think about the customer – not the channel – Insights – Rich analytics tell the customer story and help you manage the customer experience 22
- 23. THANKYOU 23 Tim Suther Chief Marketing & Strategy Officer, Acxiom @timsuther tim.suther@acxiom.com www.linkedin.com/in/timsuther Darren Stoll Group VP of Interactive Marketing Operations and Analytics, Macys.com dstoll@macys.com www.linkedin.com/pub/darren-stoll/2/91/aa5 Request a copy of this presentation: http://bit.ly/AcxiomFMF13 Download our ‘2012 State of the Industry Report’: http://bit.ly/AcxiomFML13_WP Want more? See how your marketing prowess compares to that of your peers - Visit Acxiom Booth # 304 and take the Interactive Assessment.
Notas do Editor
- section # 2 – Customer Centricity Dem MACY ’S KNOWS HOW TO DO TREAT CUSTOMERS IN THE OMNICHANNEL WORLD – & HOW TO MEASURE IT Macy ’s has lots of ways of serving customers – and connects them all ands Omni-channel orientation “ Omnichannel” leverages key cross-channel assets 1 - Inventory – if we own it, she can buy it – leverage the strength of Macy ’s assortment and inventory across all channels 2 - Digital content & technology – create an integrated shopping experience; bring the strengths and innovation of the online world into our stores Macy ’s has lots of ways of serving customers – and connects them all -- puts them all together – and puts the customer at the center Aspiration to be customer centric and put the customer at the center of all decisions Realities of customer is their relationship with a brand is not within a channel but across – to know what we shoulod be doing to best serve the customer at every point of interaction requires understanding of context and what customer doing in other channels Everyone ’s talking about omnichannel and reinventing the marketing funnel; Macy’s isn’t just talking about it Macy ’s knows how to do business and treat customers in the omnichannel world – and how to measure it Customer centricitiy forces a horizontally focused orientation and an omni-channel approach Consistent experience BUT Context is key offers that are relative to a specific consumer determined by purchase patterns, website visits, loyalty programs, and other data mining techniques. more knowledgeable consumer