MULTI-CHANNEL CUSTOMER ENGAGEMENT - Merkle Inc. PDF Free Download

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MULTI-CHANNELMULTICHANNELCUSTOMERENGAGEMENT

AgendaWhat is Multi-Channel Engagement? Definitions of Engagement Merkle’s DefinitionMulti-Channel Engagementg gin Our Industryy Examples of Engagement Why We Believe It’s Still EvolvingUnderstanding Consumer Engagement: Defining engagement as a new marketing disciplineExamples of Good MultiMulti-ChannelChannel Engagement Programs Case Study: Universal Orlando Case Study: BlackRock Investments 2011 Merkle Inc. All Rights Reserved. Confidential2

What is Multi-Channel Engagement?Definition of Engagement:An Appointment or ArrangementA Pledge,Pl dObliObligationti or AAgreementtAn EncounterA Betrothal!As funny as it sounds, engagement does involve all of these 2011 Merkle Inc. All Rights Reserved. Confidential4

Our Definition of Multi-Channel EngagementEngagement is an ongoingconversation with a customer,centered around the specificmedia that they consume on aregular basis.DMIts purpose is to consistently offerup content of interest in places andat points in time that are relevantto the customer, based on dataderived from their behavior, toincent them to perform a desiredaction. 2011 Merkle Inc. All Rights Reserved. Confidential6DisplayEMWebSocialMobile

What are the “Desired” ActionsThe goal of an Engagement strategy can vary based on a marketer’sultimate purpose, but typically involve:Con SellpLoyalty /RetentionRenewals 2011 Merkle Inc. All Rights Reserved. Confidential7

Coordinated Follow-up: Structured InteractionsMore structured interactive programs are evolving, including quicklead gen and follow-up emails to maximize recent engagement 2011 Merkle Inc. All Rights Reserved. Confidential10

Coordinated Follow-up: E-mail AcquisitionInsurers, especially,Insurersespecially are migrating to more online follow-up ofinquirers to increase engagement and conversion 2011 Merkle Inc. All Rights Reserved. Confidential11

Life EventsAnniversary’s, birthdays,and timed events such asscheduled premiumiincreasesor policylirenewals have beencreated to supplementother retention efforts. 2011 Merkle Inc. All Rights Reserved. Confidential12

PartnershipsPartnerships incorporatingsweepstakes and prizesassociated with policies orservicesihhave emerged.dThis one by Farmer’spromotes the integrationpgofthe agent location andentering a sweepstakes. 2011 Merkle Inc. All Rights Reserved. Confidential13

Integrated CampaignsOthers have beenable to accomplishthis as well bygenerating onecampaigng relatedtheme and carryingit through multipleoutreach channels. 2011 Merkle Inc. All Rights Reserved. Confidential15

Apps, Apps & More AppsInsurers and WealthManagers have embracednew technology andchannels such as phoneand iPad apps to adapt tocustomer’s need aroundreal-time access 2011 Merkle Inc. All Rights Reserved. Confidential17

Coordinated EngagementDespitep all the examples,p , there are not manyy coordinated,, multi-channelengagements: Most tend to be solo channel initiatives or campaign related initiatives Few are truly customer experience and ongoing engagement tacticsWhy don’tdon t we see more Coordinated Engagement?Because it’s HARD 2011 Merkle Inc. All Rights Reserved. Confidential18

Do We Really Understand Our Customers?Social: instantaccess tofriends, brandsMobile: alwayson gatewaydevicedisplayemailsearchmobilesitesocial DM/EM:preferredchannelfor brandengagement 2011 Merkle Inc. All Rights Reserved. Confidential 20Website: go-toresource forconsumerdecisions

Engagement as a New Marketing gageConvertExpand CRMmarketing reachActivateconsumeraudience;sustained dialogMonetizecustomer base Direct Mail Search Display Social Email Mobile Site Email CPA Audience Size EngagementIndex Cross-channelAdoption Campaign ROI CustomerValueCRM ROI 2011 Merkle Inc. All Rights Reserved. Confidential22

Consumer Engage Across Media / ChannelsConsumers are actively engaged across a combination of digitalchannels and mediaBlogEmail87% use email1 times perday27%27%activelyreadblogsMobile87%51%Social63% useFacebookweekly 2011 Merkle Inc. All Rights Reserved. Confidential51% are activetextersIM33% use IMregularly63%33%23

Connected Consumers Tend to be More Engaged Online Social networkers are 61%more likelylik l to bbe regularlemailersMobile engagers are 46%more likely to be activeemail users 78% of mobile emailusers are regular users ofsocial networking sites 2011 Merkle Inc. All Rights Reserved. Confidential24

Adapting CRM to the Connected ConsumerCurrent Strategy1 Typical Engagement StrategyEmail Mobile Impact on the Customer 2 email messages 5 Facebook posts1 mobile messageSocial1 direct mail message Direct MailMediaConnectedd Strategy29 customer contactsMessageAudience1 ConnectingCti tot theth CustomerC t P tting the CustomerC stomer First2 Putting Email ct Mailsocial 2011 Merkle Inc. All Rights Reserved. ConfidentialAudience25MessageMedia

Learning from the Consumer: Types of EngagementReactiveBrandConsumer responds to an outbound message from a brandExample: Consumer responds to a brand’s Facebook postProactiveBrandConsumer initiates the engagement with a brandExample:p Facebook ppost created byy a FB Fan,, visits a websiteConnectedConsumer socializes with his/her social network on behalf of a brandExample: Consumer re-posts a brand’s FB content to his FB network 2011 Merkle Inc. All Rights Reserved. Confidential26

Integrating Engagement: Start With Customer Footprintun-mappedTargeted display targetsegmentmappeddata overlayengagementdisplayEmail subscriber; activeopener and clickeremailsearchmobilesiteitFrequentt websiteFb it visitor;i itoccasional purchaserUn mapped search userUn-mappedserNew mobile opt-inopt insocialMerkle customer dataaccess Purchase history Demo/psychographicsegmentstExtensive social network;active Facebook Fan 2011 Merkle Inc. All Rights Reserved. Confidential27

Understanding Engagement to Drive CRM InitiativesCustomer Value CurveUnderstandUd t d engagementt bbehaviorsh iththatt occurbetween customer value inflection pointsHigh value pathLow value pathInflection pointW SE EmailW WebsiteS SocialM MobileSEM EM SSWSMSELowValueW EEWSSSWEEWDigital Interactions over Time 2011 Merkle Inc. All Rights Reserved. Confidential28E MEHighValue

Definition of Engagement Definition: a non-monetary activity between a brand and a consumer Goal: integrate engagement to better understand customer engagementand identify new marketing opportunities Marketing Benefits:– Sustain customer engagement: Identify marketing initiatives that encourageboth Reactive and Proactive engagement– Mitigate customer churn: Identify predictive behaviors that indicate highpropensity for customers to become unengaged– Drive higher value, loyal customers: Identify high-value behaviors thatcorrelate with high value, longer term customers 2011 Merkle Inc. All Rights Reserved. Confidential29

Example: Leveraging Engagement to Discover NewMarketing OpportunitiesWhat WeKnow:KSocial influencer,email activeConnection StrengthVertical Influence High level of fashioninfluence Strong JCrew brandconnectionChannel IntegrationContent Targetinggg Engaged with JCrew emailprogram “Likes” shoes & denimNewStrategy:Leverage viralengagement First to Know. Send early-awareness, targeted email messageand Facebook post with new shoe, denim announcements Encourage & reward network social reviews, sharing In the Know. Create friend-oriented referral program. Send targeted email message, FB post to leverage customerinfluence and activate their networks 2011 Merkle Inc. All Rights Reserved. Confidential30

Background Where It All Began:– UO’s CMO wanted to build out their CRM program – saw this as key way todevelop relationships with Guests– Sense of urgency needed to help support the launch of their new Harry Potterattraction Starting Point of CRM Program:– UO Newsletter sent 1x per monthmonth, untargeted– No targeting on website, no site optimization– No existingg social strategygy– No mobile initiatives in place– Direct mail efforts focused on FL residents 2011 Merkle Inc. All Rights Reserved. Confidential32

UO CRM Program OverviewWorking together, we implemented a targeted CRM program. Triggered Lifecycle Email Messaging: targeting email messages basedon email and site behavior Optimized and Targeted Website Content: customized site contentdriven by site segmentation Integrated Social CRM Strategy: targeted Facebook messaging basedon Facebook and site behavior Onsite Mobile Messaging: on-site, in-experience mobile messaging 2011 Merkle Inc. All Rights Reserved. Confidential33

Targeted UO Lifecycle Messaging StrategyPre-Arrival Campaign FlowTouch 1 (T1):Triggered Conf irmationOLTS parkticketpurchaseTouch 3 (T3):Prepare f or tripTouch 2 (T2):Up Sell MessageConfirmation/ Thank youfor purchase– setexpectationsTouch 4 (T4):Send-of f letterParkFacilities,FAQs, map,relevant upsellUp sellbased onpurchasehistoryWe hope yyouenjoy yourvisit!Up sellSent f rom Gateway withoptimized creativeIncludes the f ollowingticket purchases: 1 day 2 day 3 dayPurchaseConfirmation/ Thank youNewsletter/ Ac-hocIntegrated testing toimprove messagecontent, cadence,sequencePurchaseConfirmation/ Thank youPurchaseC fiConfirmationti/ Thank youSent from Gateway, same as touch 1 template12 2011 Merkle Inc. All Rights Reserved. Confidential3344

UO Website Targeting and Optimization12Persistent Navigation: Top Activitiesto PurchasePersistent Navigation: Top Activitiesto PurchaseVBVBWidgetVBWidgetWWHPMicrositeCity WalkTheme Park DiningTargeted website content driven by: predictive modeling site segmentation path optimization analysis 2011 Merkle Inc. All Rights Reserved. Confidential35

UO CRM Program Results 65% increase in direct revenue driven by targeted lifecycle messagingstreams4 5% increase in conversion rate driven by onsite process optimization 4.5% 37% increase in revenue driven by ecommerce and email testing program Targeted social messaging is in process of being measured for ROI Initial goal is to drive Guest engagement 2011 Merkle Inc. All Rights Reserved. Confidential37

Thank YouThomas BeginVice PresidentInsurance and Wealth Management Solutions Grouptbegin@merkleinc comtbegin@merkleinc.com610-212-3839Rich FleckVice PresidentMerkle Connectrfleck@merkleinc.com720-836-2024 2011 Merkle Inc. All Rights Reserved. Confidential39

and identify new marketing opportunities Marketing Benefits: - Sustain customer engagement: Identify marketing initiatives that encourage both Reactive and Proactive engagement - Mitigate customer churn: Identify predictive behaviors that indicate high propensity for customers to become unengaged