Post on 29-Nov-2014
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VIENNA • LONDON • MUNICH • ZURICH • BERLIN • PARIS • HONG KONG • MOSCOW • ISTANBUL • BEIJING • SINGAPORE • DUBAI
How to use Insightful Data to Increase Customer Lifetime Value
Alex Timlin: Director of Sales and Client Solutions, Emarsys, Alex.Timlin@emarsys.com
Maximising Customer Engagement
MaximisingCustomer Lifetime Value
Talk with us @Emarsys @ARTimlin#totallyengaged
Before we begin…
Emarsys Seminar Session
How to use Insightful Data to Increase the Customer Lifetime Value
Reaching your customers at multiple touch points throughout their customer journey significantly increases customer engagement and therefore the customer lifetime value. In this presentation Alex will highlight the business benefits of collating and analysing digital data to produce actionable intelligence.
Alex Timlin, Director Sales and Client Solutions, Emarsys
About Emarsys
Todays Agenda
• What is a “Customer Journey”?• What data to collect and how do I analyse it?• Why should I do it?
1 2 3 4
Traditional Customer Journey
Understanding the Journey with Web Analytics
Beginnings of Customer Journey analysis
• Our original analysis of the Customer Journey was to look at this basic process, identify the opportunities to improve that experience and drive conversions
• Our oldest digital channels Search, Email, Website Optimisation, Web Analytics all evolved around making this short process better
So what’s the problem?
Multi-channel customer acquisition
• Over time the number the number of channels we are using to drive purchases has exploded
• Search, Email, Display, Affiliates, Facebook Ads, Pinterest, YouTube, Direct Mail, Catalogues, Direct Mail, Call Centre etc.
• But we measure them all in the same way… conversions
• Customers Don’t Just buy from a single interaction or a single channel.
• But even attribution tools are designed to look at the ‘Purchase Path’ to a single purchase.
• They don’t look at Engagement and they don’t look at Repeat Purchases and Long Term Value
Some important statistics* – after more than 10 years in marketing optimisation
• Most eCommerce websites convert at less than 4%
• Less than 10% of your unique traffic will add something to a Shopping Cart
• 80% of the Purchasing Customers on your database have only ever made 1 purchase
Why you should be worried about these statistics?
Some important statistics* – after more than 10 years in marketing optimisation
• The cost of acquisition is going up.
• The average conversion rate in the US and Europe is going down.
• In a depressed economy the reason people are switching more to online is ‘price’.
We have two options
• Compete on price alone • Compete on Customer Experience
or
Understanding of the Customer Lifecycle and where your Customers are at each stage is an important first step:
Loyalty
Engagement
Discovery
What content fits
the customer?
4 key questions for successful customer experience
Who is the
customer?
When to reach
the customer?
How to reach
the customer?
Who is the
customer?
So what should we measure in terms of Customer Engagement?
• Date of ‘First Engagement’ – Registration/Account Creation/Purchase
• Channel used for first Registration – Lead Source• Website visit behaviour – date, session time, page
views, category views• Email behaviour – open/click• Mobile behaviour – App log-in, SMS click through• Device – mobile/tablet/desktop• Transactional History – RFM • Purchase Channel – Online/Instore/In-App
What happens when we understand the 4 questions:
1
2
3
4
4
Capture Engage
Convert Repeat
Retain
WHY?: treat your customers differently
Leads First-time Buyers
Active Buyers
Churning Customers
Hot & High Potential Lead
& Churning Gold Buyer
Would you treat them the same?
Stages
Revenue
• Male, 25 years old• Browsed website 3x in last 7
days• Interested in expensive suits &
coats HIGH eRFM POTENTIAL
• Female, 35 years old• Avg. Purchase value
£150• Last Purchase >180
days HIGH FM SCORE
Smart Insight - customer intelligence
The customer lifecycle segmentation screen presents a snapshot of all your customers and their importance for your business.
CHURNING GOLD CUSTOMER
Smart Insight - customer intelligence
We can chose and save a segment from this screen – in this case all defecting gold customers.
Smart Insight - customer intelligence
In the Automation Center, blueprints can be created or modified in a drag-and-drop canvas. Here you can see a customer loyalty program.
Smart Insight - customer intelligence
The winback campaign and your website are enhanced by personalised product recommendations
Connect With Us
facebook.com/Emarsys
twitter.com/Emarsys
linkedin.com/company/Emarsys
plus.google.com/+Emarsys
emarsys.com
Win a copy of ‘The New Digital Age’ by Eric Schmidt
Visit us at Stand IW572
Leads First-time Buyers
Active Buyers
StagesDefecting Customers
1
Higher conversion rate & quicker conversion
Revenue Welcome Mail Incentive in case of No Purchase
Conversion: 3.0%
Conversion: 19.1%
5 – WHEN: Case Study
5 – WHEN: Case Study
Leads First-time Buyers
Active Buyers
StagesDefecting Customers
2
Increase revenue per customer & strenghten retention
Revenue
Conversion: 19.1%
First Time Buyer Feedback
5 – WHEN: Case Study
Leads First-time Buyers
Active Buyers
StagesDefecting Customers
3
Winback churning
Revenue
Reactivation (90d without Visit)
Reactivation (180d of Inactivity)
Conversion: 7.9%Conversion: 9.2%
VIENNA • LONDON • MUNICH • ZURICH • BERLIN • PARIS • HONG KONG • MOSCOW • ISTANBUL • BEIJING • SINGAPORE • DUBAI
Thank You
Any Questions?