How Smart Marketers are Using Data and Marketing Automation to Drive
New and Repeat Sales
www.RightOnInteractive.com
www.RightOnInteractive.com
Welcome!Joel BookExactTarget, Inc.Phone: 317.275.5444Email: [email protected]
@JoelBook
Troy BurkRight On InteractivePhone: 317.225.5870Email: [email protected]
@TroyBurk
www.RightOnInteractive.com
www.RightOnInteractive.com
Why Lifecycle Marketing is Vital for Business Growth
“Selling now takes more time and resources then ever before. The average sales cycle has become 22% longer as buyers are taking longer to consider their decisions.”
Source: Sirius Decisions
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They expect information, offers and invitations that are: Personal Relevant Timely
Customers Expect to be Treated as Individuals
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Why Companies Struggle
1. Have data, but it is not integrated2. Not maximizing use of technology3. Lack of a predictable, repeatable process for:
• Moving suspects to customers• Moving customers to brand advocates
4. Don’t have the right metrics to prove they are truly impacting revenue
www.RightOnInteractive.com
www.RightOnInteractive.com
Lifecycle Marketing Success Factors
1. Aggregate Customer Data
2. Align Marketing and Sales
3. Establish a Scoring Methodology
4. Develop a Lifecycle Marketing Strategy
5. Deliver Personal, Relevant, and Timely Content
Process.Technology.
Data.
Lifecycle Marketing Strategy
Building Blocks
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• Aiding the Buying Process• Use What You Have• Bring It Together• Gain Insight
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Data Aggregation
360°View
Customer Information
Sales (New/Used)
Warranty Data
Credit Status
Industry Segments
eCommerce
Surveys
Social Media
Lead Results
Analytics
All customer data in one central database.
• Enables “one view” of the customer
• Provides better segmentation with marketing programs
• Allows faster response to leads
• Provides better measurement of campaign ROI
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Data You Already Have for Lifecycle Marketing
DemographicGeographic
Behavior Purchasing Opinion
• Country• State• City• Employees• Revenue• Industry• Role• Age• Gender• Income
• Email Marketing• Tradeshows• Webinars• Whitepapers• Website Visits• SEM• Sales• Social• Online Ads• Offline Ads
• Recency• Frequency• Monetary• Latency• Category• SKU• Profit Margin
• Preferences• Customer Satisfaction• Net Promoter Score• Product Suggestions• Ideas
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Sample Data Captured from Solutions
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Program: Data Hygiene and Update
Campaign: “Contact Role Data Capture” – Is initiated when a customer places its first order.
Tactics:
• Landing Page is created to capture name, title, phone, and email address of different roles within an organization.
• Email is sent to current clients that asks for updates/additional names
• Seven days later another email request will be sent asking for the same information
• Those that do not respond will be passed to the support team to call and obtain information.
Measurement: Number of new contacts/roles added. Apply value of email address for contacts in lifecycle stage.
ExactTarget Email Landing Page
Incorporate Data Capture into Processes
ROI
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Score Leads Based on Ideal Customer Profile
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Score Leads Based on Activity and Marketing Response
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• Email• CRM• Lead Scoring• Customer Lifecycle Marketing
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Using Technology to Automate the Process
The Customer Lifecycle
Website Visit
Product Evaluation
Product Purchase
Product Usage
Brand Loyalty
Repurchase/Renewal
CRM
Lead Scoring / Prediction
Email / Text / Voice
Web Analytics
Websites
Data Acquisition
Lead Management
Customer Communication
Campaign Measurement
Content Management
Process Technology
Lead Generation SEO
Measure What Matters!The Customer Lifecycle
Website Visit
Product Evaluation
Product Purchase
Product Usage
Brand Loyalty
Repurchase/Renewal
• Churn Rate• Duration
Don’t Confuse Motion with Commotion!
Critical Metrics You Need for Each life Cycle Stage• Churn Rate• Duration
• Churn Rate• Duration
• Churn Rate• Duration
• Churn Rate• Duration
• Churn Rate• Duration
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Lifecycle Marketing Map
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Basic Marketing Measurement (KPIs)
Website Visitors Email Marketing Response
Cost Per Lead by Source
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Marketing Measurement w/ Lifecycle Marketing
Lifecycle Stage: Website Visitors
Contacts: 1,788
Churn Rate: 8%
Duration: 109 Days
• Know if you are acquiring the right prospects
• Understand cost per “qualified lead”
• See the stage duration over time (increase velocity)
• Know how many individuals you are moving forward
• Visualize where every prospect/customer resides in the
Customer Lifecycle
• Provide Sales with the ability to close business faster
• Apply strategy to decrease Duration and increase Churn Rate
Email Response by Stage
• Know if my email efforts are impacting the right audience
• Realize what content works best for each Lifecycle Stage
• Provides engagement scoring for each individual who respondes
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Trade Shows
Sponsored Events
Print Advertising
Direct Mail
Social Networks
Broadcast Advertising
Public Relations
Webinars
Search Engine Marketing
Word of Mouth
Online Advertising
Corporate Blogs
Website
Websites have become the “Hub” of Marketing
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95% of Website Visitors Do Not Convert
Specific interest in Subject B
15%
No interest
40%
Have price or other concerns
10%
Interested, but want to do more research
15%
Specific interest in Subject A
15%
Converters = 5%
Non-converters = 95%
Source: WebTrends
The Customer Lifecycle
Website Visit
Product Evaluation
Product Purchase
Product Usage
Brand Loyalty
Repurchase/Renewal
Once a person gives you permission . . .
• Email aids the buying process.• Drives repeat usage.• Keeps the customer connected to your company.
Business Getting Business Keeping
Email: The Backbone of Customer Engagement
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When and How to Use Email
Marketing• Introduce new products relevant to needs and interests• Promote events (i.e. Trade Shows, Webcasts, Open Houses)• Drive leads
Sales• Nurture leads (Deliver content that informs and educates)• Cross-sell relevant products and services• Support the selling effort of dealers / resellers
Service• Deliver timely information that reinforces product value• Keep customer informed of useful events and services• Invite feedback regarding product value and benefit
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Marketing
Goal
Objective
Life Cycle
Stage
Attract Engage Convert Serve
• Convert visitor to
email subscriber
• Send Welcome
Email; Provide link
to Preference
Center
• Identify product
needs and
interests
• Provide Information
to aid purchase
decision
• Send invitations to
webinars and live
events
• Offer product
demonstration or
trial
• Promote related
products/services
• Provide
testimonials from
satisfied customers
• Reinforce the value
they will receive
from becoming a
customer
• Send purchase
transaction
confirmation
• Thank customer
for purchase
• Invite feedback
and reviews
• Send product
news and service
updates
• Send triggered
alerts
Reward
• Invite customer
to join discussion
group on website
• Provide links to
product-related
resources on
website
• Provide incentive
to renew or
repurchase
• Send purchase-
triggered cross-
sell offer
Website Visit
Product Evaluation
Product Purchase
ProductUsage
Repurchase/Renewal
BrandLoyalty
Renew
• Ask for referral to
friend or colleague
• Invite customer to
contribute to blog
• Reward customer for
loyalty.
The Customer Life Cycle
“Purpose-Driven” Email Strategy
In 2009, more than 50% of consumers made a purchase due to email.
Source: ExactTarget
“Email X-Factors, 2010”
In 2009, 82% of top marketers reported that email was their channel of choice for retention .
Source: Winterberry Group
Real-Time Triggered Email Communications Produce 10X Greater Conversion than Blast Email Communications
Real-Time TriggeredBehavior DrivenPersona DrivenProfile DrivenBlast Driven
1.1%Conversion Rate
2.8%Conversion Rate
3.9%Conversion Rate
>10%Conversion Rate
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• Aligning Marketing & Sales• Aggregating Data• Technology Integration
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The Customer Life Cycle
Website Visit
Product Evaluation
Product Purchase
Product Usage
Brand Loyalty
Repurchase/Renewal
Objectives:
• Attract Prospective Customers• Nurture Leads• Drives repeat usage
Business Getting Business Keeping
Lifecycle Marketing Process
Lead Management Workflow
Volvo CE leadsExternal leadsCustomer dataMarketing data
Data cleansing
Dynamic eMail
Auto-generated salesman
reports
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Q2 Projected
Leads
MQLs
SQLs
Closed
40%
25%
25%
600
240
60
15
MQL vs SQL – Understanding the Difference
The average close rate for BtoB organizations is less than 25 percent -
Predictable & Repeatable
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Data Acquisition / Database Updating
Automating Lifecycle Marketing
Data
Cap
ture
r / F
ulf
illm
en
t / L
ead
Sco
rin
g
Pro
gra
m P
erf
orm
an
ce
Me
as
ure
me
nt
Execution, Response Tracking and Reporting
Product /ServiceNeeds, Interests
CampaignResponse History
CommunicationHistory
Products Purchased
GeoDemographicCharacteristics
Customers
and Prospects
Database Management
Segmentation and Program Planning
ProspectiveCustomers
Ide
nti
fy
Customers with Specific Needs
Offer
InformationSe
lec
t
Timing
Channels
De
term
ine
Offline
Online
Offline
Email Communications Planning and Production
Pro
gra
m D
eve
lop
me
nt
Cu
sto
miz
ati
on
/ P
ers
on
ali
za
tio
n
Segment A
• Offer/ Message
• Channel
• Timing
Segment C
• Offer/ Message
• Channel
• Timing
Segment B
• Offer/ Message
• Channel
• Timing
Customer Lifecycle Stage
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Lifecycle Marketing Produces Results
Enterprises with best-in-class closed-loop marketing achieved:• 36% average increase in year-over-year revenue• 21% average lift in year-over-year conversion rates• 26% average increase in year-over-year marketing ROI
10 Tips for Effective
Lifecycle Marketing
1. Define the stages and gate criteria for your customer
lifecycle.
2. Consolidate multiple “silos” into a professional
marketing database.
3. Develop a process for marketing to systematically
nurture leads and customers
4. Provide weights and values for profile and
engagement scores.
5. Align marketing programs, campaigns, and tactics
based on “where they are in the relationship.”
10 Tips for Effective Lifecycle Marketing
6. Develop email programs that deliver information,
offers and invitations that are relevant and timely.
7. Pre-Sale. Use email to provide information that aids
the customer’s decision-making process.
8. Post-Sale. Use email to enhance the product usage
experience. Invite customers to share their
knowledge and experience (Testimonials, Video).
9. Leverage social media (YouTube, Blog, Twitter). This
creates more awareness of your product and attracts
website visitors.
10. Go beyond soft metrics and measure ROI, stage
duration, and stage churn rate.
10 Tips for Effective Lifecycle Marketing
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Thank You!Joel BookExactTarget, Inc.Phone: 317.275.5444Email: [email protected]
@JoelBook
Troy BurkRight On InteractivePhone: 317.225.5870Email: [email protected]
@TroyBurk