cultivating loyalty with data-driven messaging · marketing analyst jay greenberg fitforcommerce...
TRANSCRIPT
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CULTIVATING LOYALTY WITH
DATA-DRIVEN MESSAGINGAccelerate Your Messaging Strategy
SEPTEMBER 14, 2017
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2
Bernardine Wu
FitForCommerceFounder & CEO
Greg Zakowicz
Oracle + BrontoSenior Commerce Marketing Analyst
Jay Greenberg
FitForCommerceSr. Consultant
MEET TODAY’S SPEAKERS
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WHAT WE’LL COVER
Introduction
Instilling Loyalty to Retain Customers
Using Data to Meet Customer Expectations
Welcome Strategies that Cultivate Loyalty
Retention Strategies: Post-Purchase Messaging
Q & A
1
2
3
4
6
5
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FitForCommerce A specialized consultancy founded to help online businesses accelerate growth. Trusted advisor to hundreds of global companies.
Digital Diligence™ A philosophy and our methodology based on an investment and due diligence mindset for decision-making and execution to ensure success.
Recruiting For strategic and senior talent that aligns with digital strategy.
eCommerceKnowHow.com The first ecommerce knowledge base: Best practices, expert advice and info on 100s of features, functions and topics, 100s of provider and solution comparative info.
NRF Omnichannel Retail Index & FFC BenchmarkingStructured detailed benchmark studies.
The Innovation OfficeFiltering, curating, peer sharing, applied advisory on retail innovations.
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Copyright © 2017, Oracle and/or its affiliates. All rights reserved.
Oracle + Bronto Overview
BUILT FOR
COMMERCEDESIGNED FOR
ROIAWARD-WINNING
SUPPORT
PROFESSIONAL
SERVICES
• Segmentation
• Personalization
• Automation
• Sophisticated marketing
tools with drag-and-drop
simplicity
• Implementation
• Strategic services
• Full-service execution
• Developer services
• Deliverability services
• An in-house team offering
around-the-clock, award-
winning service across
the globe
• 9 time Stevie Award
winning Customer
Support Teams
• Integrates with virtually
all ecommerce
platforms, including:
• NetSuite
• Magento
• Shopify Plus
• And more
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Prospect Customer
Source: InvespCRO
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QUICK POLL
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Customer Retention Ranked 7.3%
More Important than Acquisition
60.9
51.8
51.6
50
48.4
12.6
28.7
43
45.3
33.3
42.2
44
10.4
5.2
3.1
16.7
9.4
43.5
0 10 20 30 40 50 60 70
Increase Sales
Increase Customer Engagement
Increase Brand Awareness
Lead Generation
Customer Retention
Upselling
Percentage
Mark
etin
g O
bje
ctives
Least Important Important Most Important
Source: TrackMaven, “Marketing Leadership Survey: Strategy, Technology
and Data-Driven Management 2017, April 13, 2017”
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“Our customers are loyal to us right up
until the second someone offers them
a better service… and I love that.
It’s super-motivating for us.”
– Jeff Bezos
Amazon
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1111
DATA is like a Rock Star.
If not managed well,
it will trash the place.
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Instilling Loyalty to
Retain Customers
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“Millennials and Generation Z are currently
estimated to be over 144 million strong, and
wield tremendous buying power. In fact,
Millennials (a/k/a Generation Y) whose oldest
members just turned 35, are estimated to
spend $600 billion each year in the U.S.”
– Entrepreneur.com
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65%
62%
60%
58%
57%
52% 54% 56% 58% 60% 62% 64% 66%
Dynamic Content in Email Marketing
Website Content Based on Real-Time Data
Personalized Email Content Based on Real-Time Data
Personalized Email Content Based Software/MachineLearning
Website Content Based on Software/Machine Learning
Personalization Tactics that Effectively Drive Relevancy
Source: OneSpot, “The Return on Email Personalization,” The Relevancy
Group, June 21, 2017
Dynamic Email Content Most Effective Personalization Tactic
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“Any business with delighted customers
has a sales force they won’t have to pay;
you don’t see them, but they are
talking to people all the time.”
– Warren Buffet
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While Many Loyalty Programs Exist, Few Do It Right
10.9
13.3 13.414.3
7.8
6.7 6.7 6.7
0
2
4
6
8
10
12
14
16
2014 2015 2016 2017
Loyalty Program Participation
Belong Actively Participate
Source: Bond Brand Loyalty, “The Loyalty Report 2017” in collaboration with
Visa, May 23, 2017
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Structured Loyalty Programs
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22
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“We’re heading toward an age
of assistance where, for marketers,
friction will mean failure, and mass
messages will increasingly
mean ‘move on’.”
– Sridhar Ramaswarmy
VP of Ads & Commerce
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How to Cultivate Loyalty with
Data-Driven Messaging
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Relevance
Expectations of
Personalization
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Relevance
How often do you find marketing emails from companies useful?
• Consistently not: ~60% of the
time.
• Consistently useful: 15% of
the time.
7% 8%
29%33%
24%
AlwaysOften
SometimesRarely
Never
Source: “The Inbox Report 2016: Consumer Perceptions of Email,” Nov.
2016
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Why Personalization Matters
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Enhance The Experience
Consider
the
source
Consider
the
behavior
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Subscriber Source
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Subscriber Source
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Subscriber Behavior
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Subscriber Behavior
Personalized message lift:
• Open Rate: +134%
• Click Rate: +254%
• Conv Rate: +267%
• RPE: +7,980
• 3% of email sends
• +140% in revenue
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Welcome Series Relevance
• Personalization is expected!
• User behavior tells a story:
▪ Acquisition source shows interest.
▪ Click behavior shows intent.
• Knowing how users engage allows you to personalize their experience.
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Using Data to Meet
Customer Expectations
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Let Me Ask You
How is
everything?
Want to
buy
something?
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Post-Purchase Messaging
• Enhances the customer experience
• Nurtures the customer
• Offers a customer service vehicle
• Engages
• Differentiates your brand
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Post-Purchase
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Post-Purchase
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Post-Purchase
First Purchase
Subsequent Purchase
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Continue Engagement
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Real People, Real Stories
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Sample Messages Menu
• Checkout Welcome.
• Thank You bounce back.
• Product care/tips.
• Customer service reinforcement.
• Cross-sell/recommendations.
• Loyalty club signup.
• Product rating & review.
• Site resources.
• Reorder reminder.
• Manage preferences.
• Offer reminder.
• Gift giving message.
• Refer-a-friend.
• Gift reminder services.
Social Messages:
• Crowdsourcing.
• Social intro.
• Partnerships.
• Social previews/teasers.
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Post-Purchase Experience
Email Sent
Order Confirmation Immediately
Custom Welcome 0 – 2 Hours
Shipping Confirmation Day 3
Bounce back/Thank You Day 5
Product Care Day 7-8
Crowdsourcing/Social Engagement Day 10
Manage Preference/Birthday Invite Day 13
Cross-Sell Email Day 16
Product Review Day 21
Coupon Reminder/Offer Day 26
Transactional
Customer Service/
Engagement
Data/Content
Promotional
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What’s It Worth?
Clothing/lifestyle brand retailer
What: 15% off Thank YouWhen: 7 days after purchase
Lift over promo messages:• Open Rate: +372%
• Click Rate: +123%
• Conv Rate: +662%
• RPE: +8,220%
Message has generated 5% of email revenue while accounting
for only 0.6% of email sends
Seasonal sporting goods retailer
What: Customer Service Thank YouWhen: 4 days after purchase
Lift over promo messages:• Open Rate: +158%
• Click Rate: +41%
• Conv Rate: +327%
• RPE: +1,755%
Message accounts for 1% of revenue while accounting for only 0.03% of email
sends
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What’s It Worth?
Men’s clothing retailerWhat: 3 message series
Messages: CS thank you w/ offer, Product care for item purchased w/ offer
reminder, Style guide w/ offer reminder
Lift over promo messages:•Open Rate: +185%
•Click Rate: +47%
•Conv Rate: +183%
•RPE: +884%
Series has generated 4.3% of email revenue while accounting for only 0.45%
of email sends
Auto parts retailerWhat: 3 message series
Messages: CS thank you, Website resources, Club invitation/Blog resources
Lift over promo messages:• Open Rate: +152%
• Conv Rate: +126%
• RPE: +489%
Series has generated 4.6% of email revenue while accounting for only 0.8% of
email sends
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Post-Purchase Messaging
• Continue the engagement.
• Provide value to purchasers.
• Show an interest in your customers.
• Differentiate your brand.
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FitForCommerce | [email protected]
Bronto | bronto.com
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