future is now webinar series recap & strategic planning for 2015
TRANSCRIPT
The Future is NOW!
Joel Book
Principal, Marketing Insights
Salesforce Marketing Cloud
@joelbook
How Smart Brands are Using the Salesforce Marketing Cloud to Acquire, Onboard, Serve and Retain Customers
Safe Harbor
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First Visit Hand-Raise Purchase
Buying Cycle
Sales Cycle
• Online Research
• Exploring Brands and Products
• Narrowing of Options
• Making the decision
• Justifying Decision
• Ordering
The B2C Buying Process has Changed!
Online Research
“Before ever entering a store, 62% of shoppers already know what they want to buy through prior online research.”Bazaarvoice: "Social Trends Report 2013"
Buying Cycle
Sales Cycle
The B2B Buying Process has Changed!
Online Research
“70% of the B2B buying cycle is complete before the buyer engages with Sales”Source: Sirius Decisions
First Visit Hand-Raise Purchase
• Online Research
• Exploring Brands and Products
• Narrowing of Options
• Making the decision
• Justifying Decision
• Ordering
Source: Google – “Zero Moment of Truth”, 2012
The average consumer consults 10.2 sources of information before making a purchase.
{In 2010, it was 5.3}
of all shoppers use the Internet to research and purchase products and servicesSource: Cisco Internet Business Solutions Group
"Catch and Keep Digital Shoppers" 2013
By 2018, 58% of the US population will access the Internet via a connected TV.
Source: eMarketer, June 2014
of consumers rely on social networks to guide their purchase decision.Source: SproutSocial, 2014
73% of US mobile phone users are smartphone owners. Source: comScore MobileLens, October 2014
Consumers are Mobile First
of consumers use their mobile phone to research products in store.Source: Cisco Internet Business Solutions Group study: "Catch and Keep Digital Shoppers“ January 2013
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The Connected Consumer
More Informed.
More Empowered.
More Demanding.
1
Customers expect a
across channels!
The Customer Life Cycle
Business Getting Business Keeping
Brands Must Deliver Relevant Content through Every Channel at Every Stage of the Customer Life Cycle
78% of consumers are more likely to be a repeat customer if a brand provides them personalized offers.Source: Infosys
The Good News
54% of consumers would consider ending their relationship with a brand if they are not given tailor-made, relevant content & offers.Source: CMO Council
The Bad News
+
Channels Applications
Email Email Marketing
Retail Store
Website
Print Advertising
Social Media
Dealer/Agent
Broadcast
Mobile
Mobile Messaging
CRM
E-Commerce
Call Center
Billing
Service
Warranty
Product Needs, Interests, Preferences
CampaignResponse History
Analytics and Engagement Score
Product /ServicePurchase History
CustomerDemographics
Email AddressPhysical Address
Customer Data
Event Attendance History
Data is The Money Ball of 1:1 Marketing
Explicit Data (Reported) + Implicit Data (Observed)
2
“Data-driven companies are 5% more productive and 6% more profitable”
Source: Gartner, Inc., “Forecast Analysis: Enterprise Application Software, Worldwide, 1Q14 Update”, April 29, 2014
Brands Must Have a Multi-Channel Strategy for Observing,
Acquiring and Storing Customer Behavioral DataMelissa Smith Email: [email protected]
Age 32 Twitter: @MelissaSmith01
Chicago, IL Facebook Friend & Email Subscriber
Twitter Interaction
Triggered by
Published
Content
Email Signup
via Facebook
Welcome Email /
Request for
Needs & Interests
Site Browsing &
Guided Exposure
to Content
Email 1
Triggering
Mobile App
Download
Email 2 & Invitation
for Mobile Push
Sign up
Progressive Profiling Enables Brands to Learn about the Customer’s Interests and Predict what Offers, Information and Service are Relevant and Timely
Pro
gre
ss
ive
Pro
fili
ng
Twitter:
@MelissaSmith01
Melissa Smith
Postal Address
Email:
Preferred Retailer
Birth year
Mobile Phone Number
Personal Profile Data
Browsing Behavior
Product Interests
Promotion Participation
Mobile App Downloaded
Product Purchase History
Requested Push Notifications
Customer Service History
When customer data is used to predict and deliver relevant content, Conversion Rates increase 6 – 9%!
Personalized Content Drives Higher Conversion
Source: 2014 Salesforce Marketing Cloud
Benchmark Report
Mobile
Online
Journey Management
3
Customer Experience
is the key to delivering a great
Source: McKinsey & Company
The buyer considers an initial set of brands, based on brand perceptions and exposure to recent touch points.
1
The buyer adds or subtracts brands as he evaluates what he wants.
2
Ultimately, the buyer selects a brand at the moment of purchase.
3
After purchasing a product or service, the buyer builds expectations based on experience to inform the next decision journey.
4
The Customer
Decision Journey
Source: McKinsey & Company, 2013
Customer Journeys span all stages of the Customer
Experience, from buying the product to actually using it
Increases revenue by up to 15%
Improves customer satisfaction 20%
Lowers the cost to serve by up to 20%
Source: McKinsey & Company, 2013
Automating and Optimizing Customer Journeys Produces Impressive Results
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Acquire Onboard Engage Retain
1:1 Digital MarketingBest Practices for Building Profitable Customer Relationships
Acquire Onboard Retain
1:1 Digital MarketingBest Practices for Building Profitable Customer Relationships
Engage
AUDIENCES ARE YOUR ASSETS
HABIT #1: THINK LIKE AN ASSET MANAGER
Academy Sports is adding 15K+
email subscribers per week
($450K value/wk)
Pei Wei Uses In-Store Signage to Promote Special Offers and
Acquire New Email Subscribers
Pei Wei uses in-store signage to invite guests to text and receive a buy-one, get-one free coupon each time a new entrée is introduced.
Bar-Coded Email Coupons Drive
Consumers to StoresCampaign Results:
• In two weeks, Pei Wei generated 18,000 new email subscribers!
• Produced coupon redemption rates of 20%!
Acquire Onboard Retain
1:1 Digital MarketingBest Practices for Building Profitable Customer Relationships
Engage
Source: Live / Work Intelligence: “The Critical First 3 Months of Being a Customer” September 2014
Engaging New Customers in the First 3 Months is Critical
One-third of customers who defect to another brand do so after
encountering a situation in the early stage of the customer life cycle.
No Single Channel is More Effective than Email for Welcoming New Customers
The Customer Life Cycle
Business Getting Business Keeping
Email is #1 for Onboarding
Why this Works:
Set expectations for new
Mint.com users. Reinforces
value of using Mint.com
Effectively introduces newly
registered users to the Mint.com
site and the services it provides
Provides five clear steps on how
to proceed
Mint.com onboards new users with a series of four emails.
Subsequent Mint.com onboarding messages are delivered at +7 days, +14 days, and +35 days after the initial Welcome.
Acquire Onboard Retain
1:1 Digital MarketingBest Practices for Building Profitable Customer Relationships
Engage
of B2C marketing professionals rank eNewsletters Most Effective.2015 Content Marketing Trends – North America
Content Marketing Institute / MarketingProfs
Email is the Backbone of Dreamfields Growth and Success
Dreamfields is a client of HyperDrive Interactive
In 7 years, Dreamfields has . . .
- Grown its consumer email subscriber base to 614,000+
- Grown its healthcare professionals email subscriber base to 48,000+
- Increased sales 7X from 3M pounds/year to 22M pounds/year
Dreamfields’ “Brand Fans” are its Best Marketers!
Dreamfields’ “Brand Fans” are its Best Marketers!
Each year, Dreamfields
“brand fans” invite
130,000+ friends to try
Dreamfields
That’s 130,000+ trial
coupons in the hands of
potential customers
These coupons have a
30% Redemption Rate!!
"At RBC, the future is digital. When you combine the passion of our 80,000 employees with the strength of our digital channels, that is what will make us win in the future."
Mark Atkinson
Vice President, Digital Marketing & Sales
Royal Bank of Canada
RBC is Using Mobile to Improve the Quality
and Timeliness of Customer Service
RBC Email Alert
RBC Text Alert
RBC customers set up email alerts, text alerts, and push notifications.
Acquire Onboard Serve Retain
1:1 Digital MarketingBest Practices for Building Profitable Customer Relationships
Beyond The Rack is a Leading
eCommerce Flash Sale Retailer
• Members-only access• Unique sales every day (9am & 5pm)• Limited Time (48 to 72 hours)• Limited Inventory• Deep Discounts (up to 85% off retail)
of online shoppers are willing personal preferences to receive more relevant email.Source: Harris Interactive, 2014
BTR sends over 2.5 million unique email versions daily!
Personalization attributes include:
• Individual shopping behaviour
• What brands the shopper prefers
• What products the shopper likes
• What offers they don’t respond to
Personalization of email content delivers a 12-18% revenue lift!
Email is Responsible for Driving 66% of Revenues for Beyond The Rack
of Beyond The Rack Emails are Opened on a Mobile Device!
Beyond The Rack uses MobilePush to send daily push notifications to members notifying them of the special sales for the day.
Results• 60% of Beyond The Rack mobile app
downloaders have opted-in to receive push notifications.
• 75% of Beyond The Rack mobile app downloaders have signed into their account in the mobile app, allowing Beyond The Rack to learn more about individual customer preferences.
Jessica Alba
Actress and Founder of The Honest Company
CONFIDENTIAL 62
Metric Lifecycle Average Overall Average
Opens 39% 17%
Clicks 5% 3%
Conversions* 6x Overall Average
*Any click that ends up on the Order Confirmation page is considered a conversion
Lifecycle (Winback) Marketing Campaigns are
triggered by member purchase behavior. These
campaigns are the best performing of all email
campaigns for The Honest Company.
Lifecycle Marketing Campaigns
12/4/2014 CONFIDENTIAL 63
Lifecycle Marketing Campaigns – Lapsed Shoppers
Day 75 since last purchase Day 89 since last purchase
34% Open Rate
5% CTR
12/4/2014 CONFIDENTIAL 64
Lifecycle Marketing Campaigns – Canceled Members
7 Days After Trial Cancel 14 Days After Trial Cancel
31% Open Rate
5% CTR
12/4/2014 CONFIDENTIAL 65
Lifecycle Marketing Campaigns – Cart Abandoned
Email #1Sent 1 day after cart abandon
Email #2Sent 3 days after abandon if no
purchase since Email #1
36% Open Rate
3% CTR
Triggered Abandoned Cart Emails Capture Sales that Would Otherwise Be Lost
of online shoppers DO NOT complete purchase after placing item(s) in their shopping cart.Source: SeeWhy, 2014
of all abandoned cart emails are opened.
of clicks lead to purchases back on site.Source: SaleCycle, 2014
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The New Email Marketing Paradigm
Understand the needs, interests and behavior of individual customers and use this insight to predict and deliver
personalized content that aids the acquisition, onboarding, serving and
retention of customers.
The New Email Marketing Paradigm
Understand the needs, interests and behavior of individual customers and use this insight to predict and deliver
personalized content that aids the acquisition, onboarding, serving and
retention of customers.
The New Email Marketing Paradigm
Understand the needs, interests and behavior of individual customers and use this insight to predict and deliver
personalized content that aids the acquisition, onboarding, serving and
retention of customers.
Power the Customer Journey Text “JOURNEY” to 56237
Tips | Strategies | Trends
*Msg&Data Rates Apply. Get 1msg/week. HELP for help. STOPto Stop. T&Cs avail at http://pages.exacttarget.com/etsmshelp/
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Joel BookPrincipal, Marketing Insights
Salesforce Marketing Cloud
@JoelBook
Thanks!
www.linkedin.com/in/joelbook/