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The Winterberry Group's Jonathan Margulies details the current state, key trends and critical strategies required to be successful in today’s complex, cross-channel marketing environment.
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Taking Cues from the Customer:“Omnichannel” and the Drive for Audience EngagementJonathan C. MarguliesManaging Director
October 10, 2013
About Winterberry Group
• Corporate Strategy
• Marketing System Engineering
• M&A Due Diligence Support
• Market Intelligence
• Investment Banking, through
Why?: The Origins of “Omnichannel”What?: Defining a New Approach to Customer Engagement
How?: Building a Roadmap for Enterprise Success
In 1972, Young & Rubicam Introduced“The Whole Egg”
“I rarely saw how this synergistic methodology created something bigger than any of its unilateral parts”
—Peter Himler, Forbes.com (2012)
Over Time, Other Movements Would Emerge, Such as “Integrated Communications”…
“Little has been said, however, about its theoretical robustness... It’s a management fashion”
—Joep Cornelissen and Andrew Lock,
Journal of Advertising Research (2000)
… And, Perhaps Most Prominently, “Multichannel Marketing”
“The greatest distinction I’ve found is that which lies between the various degrees of bull$&!@ that cover this entire topic”
—Wiljo Krechting, Ecompunk.com (2013)
But Three Evolving Dynamics Have Changed Marketer Thinking
The fragmentation of media—making it harder for marketers to
engage valuable audiences
The challenge of retrofitting legacy marketing
infrastructures to manage interactions driven by data and technology (rather than
by media channel)
The growth of “customer-centric” marketing—driven by consumers
who manage information, consideration and purchasing on their
own terms
Not Surprisingly, Interest in New Approaches is Surging
83% of panelists said their company would likely
invest in “omnichannel” approaches in the near
future
92% agree there is “real value” to be gained from pursuing an omnichannel
approach to customer engagement
Why?: The Origins of “Omnichannel”What?: Defining a New Approach to Customer Engagement
How?: Building a Roadmap for Enterprise Success
“Omnichannel” Originated in The Retail World—To Address a Range of Challenges
CustomerExperience
P&LOptimizatio
n
MerchandisingManagement
At Its Core, “Omnichannel” is a Strategy to Empower Mutual Value
But What Really Makes It Different?
Driven by enterprise business
objectives—not tactical marketing
requirements
Made possible only by recent
developments in data, technology
and media
Aimed at driving informed customer
engagement, not “lift,” “response,” “awareness” or
even “ROI”
More Than Anything Else, It’s About Driving Profitable Interactions with the Brand
70% 75% 80% 85% 90% 95%
Which of the following do you believe are the likely benefits of adopting an “omnichannel” customer engagement strategy?
Percentage of panelists who agree
Revenue Growth
HeightenedBrand
Awareness
ImprovedCustomerResponse
Rates
But It’s Not Just About Media—It’s About Transforming Infrastructure
Holistic Marketing Process
Management
Effe
ctiv
e P
eopl
e M
anag
emen
t
The “New 4Ps”of Marketing Operations
People
Recruit, retain and
appropriately compensate
the right talent
Partners
The network of third parties entrusted to
support capacity,
innovation and continuous
improvement
PlatformsTechnologies
and tools that support
customer insight,
decisioning and execution
ProcessesWorkflows
designed to promote the
optimal customer dialogue
Why?: The Origins of “Omnichannel”What?: Defining a New Approach to Customer Engagement
How?: Building a Roadmap for Enterprise Success
Customer Analytics and Multiplatform Attribution
Create a unified data structure leveraging multiple inputs—online and
offline, CRM and prospect, PII and anonymous—to fuel a robust customer
view
Maintain an ongoing data sourcing capability
Deploy best-in-class integration, visualization and segmentation tools
(such as a DMP)
Develop and/or source multiplatform attribution models and supporting
technologies
Understanding the customer is fundamental to
the development of products, brand
messages and offers that promote a meaningful
dialogue
Why?
Rich Content—Optimized for Context and Strategic Intent
Leverage content repositories, libraries and personalization engines geared to
orchestrate the dynamic management and sharing of digital
resources
Automate the execution of targeted content wherever possible—being mindful that the demand to create
variable content that’s credible at an individual level may require deeper human interaction than may seem
necessary
Leverage emerging media formats (such as “native advertising”) to
reinforce the holistic value of a user experience that seamlessly blends
editorial and paid content
Engagement begins with user experiences that drive real value. As consumers
“take control of the dialogue,”
marketers must expand the
breadth, quality and relevance of
their targeted content
Why?
Operational Infrastructure Geared to the Needs of Customer Engagement
Assemble a cross-disciplinary steering committee and design a realistic,
phased implementation plan with “quick wins” to reinforce senior-level buy-
in
Assess existing resources—including data, creative assets, media commitments
& technology tools—to understand gaps and crystallize needs
Outline channel-agnostic use cases that support the organization’s customer
engagement goals
Investigate internal and partner-provided options for addressing those objectives—with the goal of building a
modular solution “stack” which includes technology and service-driven
solutions
An organization’s ability to keep pace with rapid
change will depend on its
internal readiness—and many enterprise
organizations remain structured around outdated legacy systems
Why?
Cross-Platform, Audience-Driven Media Products
Expand the audience-driven media paradigm beyond its current narrow
scope to encompass a range of addressable media including TV, digital video, mobile, direct
mail, etc.
The ability to target and engage specific audience
segments can drive better
engagement (and lifetime customer value). For media companies, this shift refocuses attention to its most lucrative
asset—its audience
Why?
Integration of Deeply Engaging—Yet Effectively “Disconnected”—Media Channels
Regularly assess media mix to identify opportunities to leverage
emerging channels—as well as those that offer interactive engagement—but might be managed disparately now
Apply the same infrastructure—grounded in insight, powered by
continuous data analysis and furthered by automated and/or rules-driven execution—to new
and experimental media
Cast aside legacy distinctions between the value of “digital” and “traditional” media—with
the goal of leveraging a combination of tools to foster a
robust level of engagement
To deliver customer
engagement that’s agnostic of channel requires the development
of a channel portfolio
responsive to customer demand
Why?
Elevation of the “Omnichannel Strategist” As A Senior Role
Determine interdisciplinary stakeholders whose contributions
would best support the expansion of an omnichannel strategy for the enterprise—and task one among them to lead
the effort
Identify a series of clear performance objectives for the
senior strategist to pursue, with the goal of elevating the role to “C-suite”
equivalent
Assign broad organizational oversight to the strategist and her
team, including responsibility for customer strategy and insights, channel
coordination, data management, marketing technology and other
functions
To achieve omnichannel success, the
practice must be backed by the right resources and influencers
within an organization (and led by someone
who is not distracted by
other responsibilities)
Why?
Why Omnichannel? And What’s Next?
Drives content aligned with expectations of a
personalized,“social media society”
Capitalizes on the power of insight, enabling deeper
understanding of the customer and her needs
Sets the stage for the next transformation—to an
automated “programmatic” capability
Elevates marketing (and related functions) to a higher level of insight,
influence and importance
For Further Reading…
Download at:www.winterberrygroup.com/ourinsights
Jonathan C. MarguliesManaging Directorjmargulies@winterberrygroup.com@jcmargulies
www.winterberrygroup.com
@WinterberryGrp
Thanks!
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