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Institutionalizing the Addressable AdvantageHow to Create Long-Term Competitive Advantage
Presented by Ed Forman, SVP, Digital Analytic Innovation at Merkle, Inc.
There are plenty of examples of one-off solutions or manual processes showing organizations a glimpse of the possibilities that
addressable marketing offers.
The real trick to long-term competitive advantage is creating a scalable infrastructure and processes that can be repeated and
optimized over time.
In this presentation, we cover key enablers for performance marketing and discuss the opportunity that exists in rationalizing your current and future investments in your marketing technology
stack to create addressable experiences.
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Introduction
Define and leverage an enterprise measurement
strategy
1
Key Enablers
Resolve data gaps and use insights to drive
execution
2
Implement a modern marketing technology
stack to manage addressable experiences in a scalable environment
3
Institutionalizing the Addressable Advantage to Achieve Performance Marketing Success
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.
Define and leverage an enterprise measurement
strategy
1
Key Enablers
Resolve data gaps and use insights to drive
execution
2
Implement a modern marketing technology
stack to manage addressable experiences in a scalable environment
3
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Institutionalizing the Addressable Advantage to Achieve Performance Marketing Success
• Enables you to measure engagement, identify addressable audiences, and track on-going performance of your addressable marketing initiatives
- Gets you focused on outcomes
- Determine what’s working / what’s not working
- Answer what value marketing and sales efforts drive within the business
• Allows you to establish a baseline of performance by which to further optimize performance and be accountable to goals
• Serves as a guiding strategic blueprint for your data strategy (holistic customer view) and the build out of your enabling technology solution
- Fact is you can’t do performance marketing at scale without technology
- You get the most out of technology by embedding the measurement strategy
Key Enabler 1: Define and Leverage an Enterprise Measurement Strategy
Why?
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.
Measurement is an enterprise-wide currency that should consistently measure the value of consumer interactions with the brand therefore it should be broad in scope.
Driving insights at the senior executive level for the Business
Measurement insights that drive Program enhancements
Operational metrics to provide timely Campaign Metrics by Media & Channel
Measure the effectiveness of specific marketing tactics
• Fact Based• Longitudinal View - YOY/QOQ• Quality of accounts
Analyze the drivers of performance and customer engagement:
• Program Performance Deep Dives• Consumer/customer profiles and
behaviors• Competitive environments
Provide insights into portfolio and program strategies which would drive business impact (revenue and return on investment).
Baseline
Descriptive
Insights
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Key Enabler 1: Define and Leverage an Enterprise Measurement Strategy
Banking Example: Align the Measurement Framework to the Business
KPIs and Metrics defined across all levelsAbility to drill up or down to get to desired level of insight
Refreshed frequently to provide timely support to optimization efforts
Baseline
Descriptive
Insights
Consumer Business
Customer Segments Portfolio
Customer Marketing Programs Acquisition Programs
Media/Channels
Channels (Inbound) Media (Outbound)
Existing Customer Management Portfolio Management
High Value Mid Value Low Value Cards Lending Checking
Cards X-sell TriggersCustomer Prospect Private
Banking
ITA PS Customer PS Pros Small Bus.
Web Call Center Branch DM EM TM Digital
1
2
3
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.
• Track for known and anonymous audiences• Calculated at the individual level (customer ID or cookie level/device)• Stored over time for longitudinal tracking (i.e., rolling 3 months)• Ability to slice by campaign, geography, time• Lead with measurement strategy; sets the stage for data and tech enablement
Accounts in Force
FinancialsSize of Book
Portfolio Acquisition Cost
QualityIndex
Quality of Book
KPI Examples
Products per HH
Deposits / Spend
ROICost per Account
Share of wallet
Program Impact
Program Effectiveness
Retention Programs
Acquisition Programs
Incremental response / booked
Cost per AccountMonth to payback
Channel Ops. Metrics Media Ops. Metrics
Web
Call Center
Branch
Mobile Mass MediaEmail
Direct Mail Paid SearchDisplay
Natural SearchSocial
Video
Site visits (web)Contact rates (CC)
Monthly Active Users (mobile)
Click through (display)Open rates (email)Play rates (video)
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Banking Example: Align the Measurement Framework to the Business
Define and leverage an enterprise measurement
strategy
1
Key Enablers
Implement a modern marketing technology
stack to manage addressable experiences in a scalable environment
3
Resolve data gaps and use insights to drive
execution
2
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Institutionalizing the Addressable Advantage to Achieve Performance Marketing Success
Key Enabler 2: Resolve data gaps and use insights to drive execution
…there is a mass of complexity required to bring those data assets together to see the entire customer experience.
The depth of challenge is often not realized until you look below the surface.
Brand, media and channel data can be obtained but…
While addressability is the new driver of competitive advantage, it extremely important to understand how consumers engage with your
brand across all media and channels
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.
The goal is to operationalize this complexity
The reality: Optimizing behavior through addressable experiences has become increasingly complicated as channels and media options grow.
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Key Enabler 2: Resolve data gaps and use insights to drive execution
Drive toward data frameworks that leverage your measurement strategy and insights generation. Once in place, leverage analytics to generate insight to drive execution (e.g., cross-channel attribution).
Day 8-30 Day 1-7 Day 0-1
Actual Experience
New Customer
Direct or Rules Based
Credit over applied to bottom of funnel
touches. Other touches often ‘invisible’
Creates flawed financial
view of performance
Model-adjusted interaction
Most accurate and actionable
100%
3% 14% 3% 5% 5% 5% 15% 5% 5% 30%5% 5%Modeled
TV
Mass and Offline Digital
Direct Mail Alt. Media Display Email Web Paid Search Click
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Key Enabler 2: Resolve data gaps and use insights to drive execution
Client Example: Live Event Stream & Attribution Example
One Event Pattern: Direct Mail > Magazine > Bulletin > Direct Mail > Paid Search
Modeled Attribution Allocation %
Rules Bases AttributionAllocation %
Direct Mail 59% 0%
Magazine 6% 2%
Bulletin 7% 1%
Paid Search 28% 97%
• Resolve data gaps to enable more actionable analytic frameworks (attribution in this example)• In the case, the client was able to make a significant shift in media allocation• Further pattern analysis found they were under-spending in TV and over spending in Paid
Search; course correction resulted in significant incremental conversions
3/11: Searched a paid search term and responded / converted
3/9: Received a Direct Mail
3/5: Received a Bulletin
2/8: Received an Branded Magazine
2/2: Received a Direct Mail
1/19: Received a Direct Mail
~30k households experienced this pattern before they clicked on a paid search ad and responded
in MarchFor example: Household 00000012345678
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.
The result…• Consolidated view of the consumer
across all touchpoints
• Allows you to analyze your programs in context of the whole picture
• Valuable insights on consumer behavior, attitudes, and behaviors
• Attribution – provides foundation for effective measurement
• Multi-media, multi-channel optimization based on facts
Social
Direct Mail
Display
Search TV/Video
Mobile
Site
Product
LTV Segment
Demographics
Life Events
Call center
Meetings
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Key Enabler 2: Resolve data gaps and use insights to drive execution
Resolve data gaps and use insights to drive
execution
2
Define and leverage an enterprise measurement
strategy
1
Key Enablers
Implement a modern marketing technology
stack to manage addressable experiences in a scalable environment
3
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Institutionalizing the Addressable Advantage to Achieve Performance Marketing Success
Key Enabler 3: Modern marketing technology stack
Goal is to create a fully integrated suite of people-based marketing services
DatabaseID Management
AnalyticsCMSDMP
CampaignLoyalty
Program & Campaign Planning
Measurement
Content
Media Activation• Search• Display• Paid Social• Email• Direct Mail
• Website• Mobile• Native App• Social• Call Center• In Store
• Measurement Strategy• Attribution• Marketing Mix• Forecasting & Simulation• Testing
• Creative Development• Content Development• User Experience
Channel Activation
• Lifecycle Strategy• Offer & Value Prop Development• Audience Plan• Experience Plan• Media Plan• Test Plan
Operating Strategy• Engagement Model• Change Management• Technology Blueprint• Supply Chain Management• Governance
Customer Strategy• Market Sizing• Segmentation• Portfolio Strategy• Journey Mapping & Capability
Strategy
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.
An addressable marketing operating system that
integrates capabilities and competencies to deliver
value
PeopleProcess
Technology
Or stated another way: Platforms + Services
WO
RK
FL
OW
Measurement of programs and development of insights
Content personalization and orchestration of people-based audiences
across channels and media
Aggregation of valuable CRM data sources into audiences and
development of people-based campaigns
Execution of people-based campaigns across performance media…
Dat
a M
anag
emen
t C
loud
Insi
ghts
Orc
hest
ratio
nA
ctiv
atio
n
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Key Enabler 3: Modern marketing technology stack
Services
• Attribution • Site Analytics• Media Mix Modeling• Forecasting & Scenario Planning• Cross-channel Reporting
• SEM/SEO• Programmatic Display• Paid Social• Retargeting• Email/Direct Mail• Lead Nurture Services• User Experience• Performance Content/Creative
• Audience Planning• Experience/Content Planning• Media Planning• Content/Ads Creation• Addressable Targeting
Decisioning• Content Personalization
Decisioning• Testing Strategy
• Marketing Database• DataSource• Data Eval & Sourcing• Systems Integration• Connected Recognition• Data Hygiene/Processing
Reporting & Insights
Attribution Analytic Tools
Planning
Tag Management
Dynamic Creative Content Management
Mobile Apps
Retail/StorePremium Pubs
Onboarding
DMP
Data Enhancement Data Sourcing
Identity Management
Marketing Database
Decision Management
Direct Mail
Other
LinkedInAddressable TV
WO
RK
FL
OW
PERSONPLATFORMS
DSP
SSP
RSLA
Ad Server
COOKIE PLATFORMS
Platform
Call Center
Mobile Apps
Site
Retail/Store
CHANNELS
Campaign Management
Dat
a M
anag
emen
t Clo
udIn
sigh
tsO
rche
stra
tion
Act
ivat
ion
Leverage current investments and layer in the missing components
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Key Enabler 3: Modern marketing technology stack
WO
RK
FL
OW
Platform
D a t a M a n a g e m e n t C l o u d
O r c h e s t r a t i o n
A c t i v a t i o n
I n s i g h t s
Real-time Media and Content Delivery Platforms
Key Themes:
• Coordinated services activities
• Enabled by a modern solution stack
• Embedded insights for informing execution and tuning for on-going, improved performance
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Key Enabler 3: Modern marketing technology stack
Thank You!Ed Forman
SVP, Merkle Marketing [email protected]
443-542-4599
Define and leverage an enterprise measurement strategy1
Implement a modern marketing technology stack to manage addressable experiences in a scalable environment
3
Resolve data gaps and use insights to drive execution 2
Watch this presentation in Merkle’s Performance Marketing for Financial Services
video series.Institutionalizing the Addressable Advantage to Achieve Performance Marketing Success
Watch this presentation in Merkle’s Performance Marketing for Financial Services video series
Get up to speed on how the industry's top-performing financial services brands are using addressable audience platforms to see great results with Real World Success with Performance Marketing. There are five presentations, each taking an in-depth look at how one brand celebrated huge wins:
• Video 1: Disruptive Marketing Trends in Financial Services
• Video 2: Transforming to Compete in the Age of the “Always Addressable Customer”—From vision to reality
• Video 3: Go Your Own Way: The many paths to addressable marketing
• Video 4: Turning Execution into Impact• Video 5: Institutionalizing the Addressable
Advantage