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MultiChannel Data Strategies PowerPoint Presentation
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MultiChannel Data Strategies

MultiChannel Data Strategies

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MultiChannel Data Strategies

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  1. Building a Smarter Databaseto Maximize the Customer Experience MultiChannel Data Strategies

  2. THE MULTICHANNEL CUSTOMER CLIMATE Today’s consumer has three primary desires from a brand: TO BE INFORMED FLEXIBILITY & EASE OF PURCHASE GREAT SERVICE Depending on the customer and their preferencesthey will interact with the brand in several different channels DIRECT MAIL STORE CALL CENTER TV & RADIO DIGITAL AD / MEDIA EMAIL WEBSITE SOCIAL MOBILE The multichannel marketer needs toidentify the channel preferences of their customer baseand then communicate effectively within each channel to meet their needs

  3. THE MARKETING SOPHISTICATION CURVE™ ENGAGING YOUR CUSTOMER Cross Channel Optimization Jos A BankBenchmark Multi Channel Marketing Channel Optimization Recognizing channel preference Triggered and drip campaigns Channel Execution Revenue / outcome causation Scoring, models, and advancedsegmentation Response attribution Single channel, fire & forget Faster cycle times Enabled across multiple platforms Personalized interaction Voice of customer per channel Consolidated view of customer File based list processing Persisting results over time

  4. JOS A BANK’S MULTICHANNEL REALITY GOAL:Operate three channels of selling… as an integrated business… providing the same personalized service… regardless of which channel merchandise is purchased within. THREE CHANNELS CHALLENGES • Sustaining & fueling growth in all channels • Coordinating marketing communications with promotions • Channel-holistic view of marketing productivity • Understanding different buying patterns ofthe Jos A Bank Customer • Increasing productivity of all marketing efforts

  5. A SOLUTION FOR SUCCESS MULTICHANNEL DATA INSIGHTANDCUSTOMER SEGMENTATION 360º VIEW CENTRALIZED DATA WAREHOUSEINGANDCAMPAIGN MANAGEMENT

  6. SEGMENTATION FOR RELEVANT MARKETING CREATE SEGMENTS TO BEACTIONABLE ACROSS THE ENTERPRISE Business Driven Segmentation schemas must incorporate business value – revenue / profit Channel Agnostic Segments must be actionable in all channels – digital or offline Flexible Must quickly adjust to various objectives – acquisition, retention, or upsell Fully-Linked Should easily combine consumer individual or household info withmarket profiles and consumer research

  7. Automotive SurveyResearch Lists Suppression Business Point ofSale Brand Customer ThirdParty CustomerService Marketresearch Partners Research CallCenter Online Demo& lifestyledata Segmentation Email Transactions Syndicated Website MULTICHANNEL CUSTOMER DATA SOURCES MULTIPLE DATA SOURCES MORE INSIGHTFUL PROFILING SMARTER SEGMENTATION MORE ACTIONABLE RESULTS MARKETING ANALYTICS YOUR DATA COMPILED DATA THIRD PARTY DATA CUSTOMER PERSONAS

  8. HOW MULTICHANNEL SEGMENTATION WORKS ENABLING FLEXIBLE MARKETING HIGH VALUETARGET PROFILE MIDDLE OF THE ROAD MetropolitanSingles HIGH CUSTOMER INFORMATION PRIME LIVING YEARS Middle ofthe Road MED CUSTOMER VALUE METROPOLITAN SINGLES PrimeLiving Years LOW LIVING THE DREAM LivingThe Dream DefineObjective Gain Insight Budget& Plan ExecuteProgram

  9. JOS A BANK – MAILING SMARTER AND LEANER FROM RFM TO PREDICTIVE MODELING RFM-BASEDJOS A. BANK CUSTOMER DATA EXPERIAN DATA OVERLAY ALTERNATEVARIABLEIDENTIFICATION PREDICTIVEMODELSCORING NEWLY SCOREDJOS A. BANK CUSTOMER FILE Results • Keeping quantity the same • 19.5% increase in response • 16.7% increase in Sales • Abandoned RFM model for Experian’s predictive modeling • Single-to-multi buyer conversion model

  10. JOS A BANK – CUSTOMER INSIGHT PERSONADEVELOPMENT FOR RELEVENT SEGMENTATION JOS A. BANK CUSTOMER DATA CONSUMERVIEW MOSAIC LIFESTYLE SUMMARIZED CREDIT DATA ATTITUDES & BEHAVIORS Results • Development of six distinct customer personas • Adjusted mailing quantities to align with appropriate marketing communication • Versioning of DM segmentation • Rolling out into email strategy

  11. A SMARTER DATABASE SOLUTION TECHNOLOGY BUILT SPECIFICALLY FORMULTICHANNEL MARKETING Highly Scalable & Flexible Must accommodate business growth & changing needs Front-end Ease Robust campaign management & reporting suites must remain intuitive to users Back-end Strength Quality platform for top-notch data processing, analysis, storage, and security Full Integration Seamless and versatile integration with several systems & data formats

  12. DATA MANAGEMENT FRAMEWORK MORE THAN A TECHNOLOGY PLATFORM: A ROBUST DATA MANAGEMENT SYSTEM MODELING CAMPAIGN DESIGN STORE DIRECTMAIL TV CALLCENTER EMAIL OPTIMIZED OFFERS INTEGRATED PROFILES CONSUMER INSIGHTS WEBSITES TARGETING BEHAVIORAL ANALYSIS SEARCH SOCIALMEDIA CONTACT HISTORY FEEDBACK

  13. JOS A BANK DATA MANAGEMENT SYSTEM A SOLUTION ILLUSTRATED JOS A. BANK CUSTOMER DATABASE DATA HYGIENE CAMPAIGN MANAGEMENT DATA ANALYTICS BUYING BEHAVIOR CUSTOMER INSIGHT Delivered Solution Objectives • Advanced hygiene, duplication, and merge/purge services • Sophisticated multichannel campaign tool • Premier data access for analytics, research, and decisioning • Data warehouse to connect & manageall data points & channels • Coordinated • Clean data…quicker! • More sophisticated ability to target the customer • More accurate evaluation of marketing efforts • Understanding of differentbuying behaviors • All customer data in one view

  14. THE MARKETING SOPHISTICATION CURVE™ ENGAGING YOUR CUSTOMER Jos. A. BankBenchmark Cross Channel Optimization Multi Channel Marketing Channel Optimization Recognizing channel preference Triggered and drip campaigns Channel Execution Revenue / outcome causation Scoring, models, and advancedsegmentation Response attribution Single channel, fire & forget Faster cycle times Enabled across multiple platforms Personalized interaction Voice of customer per channel Consolidated view of customer File based list processing Persisting results over time