maximize the moment with real-time engagement
DESCRIPTION
It's no secret that the best marketers deliver personalized, dynamic content to their customers in real time. How can your brand start on the real-time path? I delivered this presentation at IBM Connect in Orlando, Florida, in January 2013. It lays out five questions to ask when laying the foundations for a real-time marketing strategy.TRANSCRIPT
© 2014 IBM Corporation
Maximize the Moment with Real-Time Engagement
Erin Jaeger, IBM
Today’s consumer is more connected and more demanding than ever
58%are more price-conscious today
than they were a year ago
70%of a B2B purchase decision is
made before a rep is contacted
19%increase in
mobile sales on Black Friday 2013
vs. 2012
71%of smartphone users compare
prices in stores
5.9B mobile phone subscribers across
the globe in 2013
92%of consumers research online and seek
opinions via earned media before a
purchase
*SOURCES: IBM Institute for Business Value; IBM 2012 Holiday Benchmark Reports; ChiefMarketer.com
Marketers must engage today’s consumer in context, at every point in the lifecycle
Continuous Customer Engagement
Make useful recommendations about products and
services
Give customers a means to share ideas and opinions Intervene when customers are struggling
Provide relevant content that informs the buying
decision
Send offers when customers are most likely to buy
Understand and respect
customers’ preferences
Identify, develop, and reward brand advocates
Rescue at-risk customers before they churn
Match service levels with expectations
Arm workforce with the knowledge customers wantServe and sell to customers in their preferred channels
In a global study of marketers, IBM found 20% outperform the rest
1.8x higher
3-yr gross profit growth
3.4x higher
3-yr net income growth
2.4x higher
3-yr stock price growthAnd achieve:
The top
20% of marketers:
•Adopt cross-channel optimization technologies
*SOURCE: The State of Marketing 2013: IBM’s Global Survey of Marketers, IBM Center for Applied Insights
•Take proactive ownership of the customer
experience
These outperformers employ four specific practices
Get the report:
Break down silos
to better engage customers and deliver exceptional customer experience
Maximize the moment
with real-time and predictive analytics to delight customers in context
Deliver an omni-channel experience
to ensure the right experience is delivered via the right channel every time
Consistently measure results
to improve customer insight, responses, and ROI
1.
2.
3.
4.
*SOURCE: The State of Marketing 2013: IBM’s Global Survey of Marketers, IBM Center for Applied Insights
Leading marketers maximize every moment with their customers – significantly more so than their peers
2.6xmore likely to adjust real-time offers based on context
Leading marketers are:
1.4xmore likely to integrate inbound and outbound efforts
*SOURCE: The State of Marketing 2013: IBM’s Global Survey of Marketers, IBM Center for Applied Insights
So, how can we build a real-time engagement strategy?
1. Who is the customer or prospect? How much do we know about her?
Behavioral data:
Page views, location, reason for call, products in cart
Customer data:
Demographics, psychographics, account details, purchase history
Many approaches to personalization use one type of data
Product recommendation
engines
Online behavioral
advertising
Search engine marketing
(SEM)
Display adsSPAMPre-calculated
offers
Personalized
Less personalized More personalized
Customer data:
Demographics, psychographics, account details, purchase history
Behavioral data:
Page views, location, reason for call, products in cart
But, your customers are multidimensional – and so are successful personalization strategies
Product recommendation
engines
Online behavioral
advertising
SEMDisplay adsSPAM
Pre-calculated
offers
Personalized
Good approach
Behavioral data:
Page views, location, reason for call, products in cart
Customer data:
Demographics, psychographics,
account details, purchase history
WOTC powers insight
beyond just related or
bestselling products
2. What gets personalized?
The look and feel:
• Background/ layout: e.g., season-specific, optimized for certain device
• Images
The message:
• Special offer: 10% off, BOGO
• Recommended products
• Thematic message: “Stay warm this winter”
• Follow-up/ other action – even if it’s not a traditional marketing message!
3. Where does the interaction happen? How connected is it to my other marketing efforts?
Marketer Customer
Can you:
• Reinforce offers and messages across
channels?
• Learn from every interaction?
• Use what you learn to power future
decisions?
You forgot your cash – but it’s
safe and sound.
4. When are the personalization decisions made?
Behavioral data:
Page views, location, reason for call, products in cart
Customer data:
Demographics, psychographics, account details, purchase history
Before the interaction(based on what you already know)
Before the interaction(triggered, but not decided, by context)
Better approach: Decide during the interaction
Product recommendation
engines
Online behavioral
advertising
SEMDisplay adsSPAM
Pre-calculated
offers
Personalized
Good approach
Behavioral data:
Page views, location, reason for call, products in cart
Customer data:
Demographics, psychographics,
account details, purchase history
During the interaction(drawing on history AND context)
Time: a key third dimension of real-time engagement
Changes over time:
Patterns of behavior, account status
change, credit score
Best
approach
Your flight’s been moved to gate C6. Here is an
updated boarding pass:
5. How is the personalized message selected?
Deterministic:
Marketers structure end-to-end logic before deployment
Predictive:
Software uses algorithms to determine the best course of action
Best
approach
What does this look like?
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WEBSITE
http://www.voluptatem.quia
Mary•
35 years old
• Loyalty program member
• Researches via mobile
• Purchases in store
James•
42 years old
• Returning customer
• Researches & purchases online after business
hours
15%
15%
Access Connect Online to complete your session surveys using any:– Web or mobile browser – Connect Online kiosk onsite
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