the life of a customer - mike stocker
DESCRIPTION
Mike Stocker, Sr. Consumer Marketing Strategist at Marketo, speaks about the customer lifecycle and how to continually engage consumers through personalized messaging.TRANSCRIPT
© 2014 Marketo, Inc. Marketo Proprietary and Confidential© 2014 Marketo, Inc.
The Life of a Customer
Mike StockerSr Consumer Marketing Strategist Twitter: @michaelstocker
Page 2© 2014 Marketo, Inc. @michaelstocker
About Me: Mike Stocker• Founded and sold 3 companies.
Kenzei email services and shopping cart abandonment
• Major acquisition media buyer spending $5MM/mo. in Display ads.
• Have worked w/major brands such as Amazon, Google, Nordstrom, Williams Sonoma, URBN, Crate and Barrel etc.
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High level topics
• Marketing is Converging • Think continuous discussions • Lifecycle marketing is key- It’s easier to keep and grow
a customer than to always acquire new customers!• Understand Behaviors and Context • Make Every Channel Personalized
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Business Marketer
Consumer Marketer
Leads,Opportunities,
Customers, Demand Generation, Funnel,
Revenue, Sales Cycle, MQLs, SQLs
Brand, Loyalty, Audience, Engagement,
Reach, Frequency, Monetization,
ROAS, CLTV
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How does my marketing team… … build deep, enduring relationships with our customers …… at an individual, personalized level …… through engaging experiences …… tied together across channels and time …… at scale …… to drive conversions I care about ...… and get insight into spend and effectiveness?
Consumer Marketer
Business Marketer
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Campaigns Continuous Conversations
THEN NOW
Demographic Targeting Behaviors and Context
One Size Fits All Every Interaction Personalized
Arts and Crafts Marketing Marketing as Driver of Sales
Guess and Test Smart Acquisition
Page 7© 2014 Marketo, Inc. @michaelstocker Source: Adbusters, 2011
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© 2014 Marketo, Inc. Marketo Proprietary and Confidential
Continuous Conversations
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Hi, are you ready to buy?Hi, now are you ready to buy?Hi, how about now?Hi, you must be ready to buy?Hi again, are you ready to buy?What about now?Seriously, not ready yet?Hi, are you ready to buy?
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Are we there yet? Are we there yet?
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Marketing is NOT a gumball machine!
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What is an engaging conversation?• Listens and responds• Communications
flow one to the next
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Welcome! Here’s what to expectCheck out this articleHere’s a cool videoSee our latest offeringShare this with friendsHere’s what others like!Download our new bookHappy birthdayHi, are you ready to buy?More cool contentJoin us at our eventYou like X, check out YFun ways to learn moreTake this surveyYou haven’t bought yet, here’s a 10% discount
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A Good example of an ongoing conversation:
I purchased pants called “Jet Blues” on Bonobos.com and they sent me an email referencing that prior purchase and suggesting a matching shirt.
Lifecycle Marketing
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It’s not just about acquisition – It’s about the Customer Journey
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50% 30% 20%Individual
Personal
Durable
Directed
Focus on Engagement
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Individual
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Personal
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Durable
Mobile Phone Internet Service Framily Plan
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BUYEVALUATELEARNENGAGE
Directed
TRUSTENJOYBUY ADVOCATE
RENEWVALUEUSEOWN
How to do it
This #%@& is way too complicated.
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© 2014 Marketo, Inc. Marketo Proprietary and Confidential
Behaviors and Context
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Converse Across Channels
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Over the Entire Customer Lifecycle
Awareness
Leads
Prospects
Opportunities
CustomersRetain
Grow
Leverage
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More Targeted Emails are More Relevant
100 1000 10000 1000000
50
100
150
200
250
300
350
400
Email Send Size
Enga
gem
ent S
core
Source: 100s of Marketo campaigns
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The Key to Relevance is Behavioral TargetingTop Tactics to Increase Email Engagement
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Example: Topic of Interest Triggers
• Attends event• Downloads content• Click email• Fills out form• Score is changed
Social
Content
Technology
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Standard Nurture Triggered Interests Lift
Open % 21.7% Open % 34.0% 57%
Click to Open % 23.4% Click to Open % 37.1% 59%
Click % 5.1% Click % 12.6% 147%
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Dynamic Content
Industry, Geography, Company Size, Customer
vs. Prospect, etc.
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The Bottom Line: Market Like Amazon
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Behavioral targeting can increase engagement by 50% or more @michaelstocker
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ESPs Only Track Email Behaviors
For sophisticated targeting, ESPs rely on technical databases and complex queries
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But I’m a Marketer, not a Programmer!
I can do this myself! No trips to
see IT – yay!
© 2014 Marketo, Inc. Marketo Proprietary and Confidential
Every Channel Personalized
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Marketer Challenges
Issue 2 Marketers get leads without enough background information & interests to effectively segment them, leading to ineffective lead nurturing and messaging
Issue 1Marketers lose up to 98% of website browsers without self-identification, and without sufficient insight to be able to optimize their web experience sufficiently to trigger form-completion
Issue 3Marketers have up to 90% of customer leads dormant and non-responsive, and need creative reactivation solutions
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Selective Amnesia
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We’ve gotten good at personalizing EMAILS
…but what about other channels?
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Marketo Real-Time Personalization
• Personalize known visitors using rich marketing automation information• Coordinate outbound and inbound experiences
• Predictive analytics• Machine learning, auto-tuning, collaborative filtering recommendations
• Easy and integrated• Hands Free, any CMS and zero IT
Make web and mobile channels as personal as email• Auto-engage anonymous visitors with
personalized content or calls-to-action to drive a 30% increase in conversion rates• Behavior, location, firmographics (industry,
technology, etc.), DMP data
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Clicks on site
Number of visits
Pages viewed
Referral
Search terms
Browser
Device
Visitor Information
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Location
• Personalize the experience based on the visitor’s physical location
• Contact us details
• Currency
• Weather
• Store locator
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Account / Industry
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Persona• Map existing content with defined personas• Customize your site like your nurture tracks• Integrate with marketing automation
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1:1 Conversation
• Relationship• Stage in buying process• Score• Title• Last offer / email
(continue conversation)
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Customized messaging for visitors who use other marketing automation
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For visitors in B2C industries
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Real-Time Personalization (B2C Behavioral)
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Real-Time Personalization (B2C Behavioral)
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What it doesStep 1: Choose your audience in Acxiom based on demographics/propensities
30-40 year old women who recently gave birth and have a propensity to join a gym
Step 2: Set up your ads. Acxiom will target the right people
Free Daycare
If you join today…
Step 3: Set up Marketo RTP
Step 4: Incorporate the same messaging into outbound campaigns from Marketo MA
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To Recap:
• Marketing is Converging • Think continuous discussions • Lifecycle marketing is key- It’s easier to keep and grow
a customer than to always acquire new customers!• Understand Behaviors and Context • Make Every Channel Personalized
© 2014 Marketo, Inc. Marketo Proprietary and Confidential© 2014 Marketo, Inc.
Thank You!
Mike Stocker, Sr. Consumer Marketing Solution StrategistTwitter: @michaelstocker