Marketing Best Practices for High Tech
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The document discusses best practices for customer engagement in high technology marketing, emphasizing the need for personalized and contextual marketing strategies that adapt to customer behaviors across various channels. It highlights the importance of understanding individual customer journeys, leveraging real-time data, and integrating marketing efforts for improved engagement and conversion rates. Examples from companies like NHL, Luxottica, Samsung, Nikon, and Bose illustrate effective tactics for enhancing customer experience and driving revenue through better data utilization and marketing optimization.
Marketing Best Practices for High Tech
- 1. High Technology: Marketing Best Practices for Hi-Tech SAP HYBRIS SLIDESHARE CUSTOMER ENGAGEMENT
- 2. Customer Engagement: Best Practices in MARKETING Engaging today’s customers means focusing on every area of your business that comes in contact with them. The core pillars of customer engagement include your front office: § Marketing § Commerce § Billing § Sales § Service It’s not just technology that must be up-to-date – it’s also internal business processes and the organization itself.
- 3. Software is everywhere: Smart products are disrupting how products are marketed and sold. Customers expect a consistent and compelling experience at every stage across all channels, including when researching, becoming aware, and deciding to buy. Convenience of subscriptions is replacing ownership of products – customers need to know this is available. Customers expect instant availability of solutions across all channels. Key Trends Shaping the High Technology Industry
- 4. Marketing is Broken MARKETERS ACCEPT A 2% CONVERSION RATE AS ‘GOOD’, IGNORING THE EFFECT ON THE 98% WHO DO NOT CONVERT. THE CUSTOMER IS ONE OF HUNDREDS OF THOUSANDS OF TARGETS, BOMBARDED WITH IRRELEVANT MARKETING.
- 5. The Solution - Make Marketing Contextual THE OLD APPROACH: BOMBARDING WITH GENERIC MESSAGES: DOES NOT WORK. Customers do not like receiving irrelevant ads or pitches. No longer a homogenous audience – every customer is unique and needs to be understood through data and individualized attention. 17% of organizations optimize interactions by applying a 360-degree view of each customer in marketing tactics.
- 6. Contextual Marketing for High-Tech Products How do we delight our customers and grow the relationship? Contextual Marketing is the new “must-have.” Curate your message to match the behaviors of customers as they use: § Social media, like Twitter, Facebook, and the Web § Their smartphones and tablets for mobile shopping and browsing § Their desktops for mobile shopping, browsing and live chat with reps § Their feet to visit stores and shop in-person § Their phones for talking live to customer service § Courier services for receiving their purchases or sending back returns § Traditional postal mail for receiving catalogs and materials Marketing happens at any point in time along the journey. Use the right message for the right media. Keep it personalized, prompt, and interactive.
- 7. Market Contextually Across Channels 54% OF MARKETERS HAVE SUCCESSFULLY INTEGRATED CAMPAIGNS ACROSS CHANNELS. Forrester, 2015 A GREAT MARKETING TECHNOLOGY SHOULD BE ABLE TO RECOGNIZE EACH INDIVIDUAL’S JOURNEY AS UNIQUE AND PROVIDE THE SAME PERSONALIZED EXPERIENCE EXPECTED FROM CUSTOMER SERVICE AGENTS.
- 8. Focus on the Customer A commissioned study conducted by Forrester Consulting on behalf of SAP-Hybris and Accenture, September 2015 / Factoids deck, slide 2 Consolidate customer information and actions across multiple channels and sources. Target and segment through granular customer insights. Personalize the engagement with contextual and relevant commerce-enabled offers. Continuously and relentlessly enrich their profile with explicit and implicit signal data. Bridge the gap between what customers expect and what companies provide. Give them what they have already told you they want: § Transparent prices and product details § Personalized recommendations based on signal data § A wide and relevant selection § Excellent customer service and support
- 9. Focus on the Customer Example: NHL § Real-time engagement with 30 million fans § Consolidate dozens of data sources, from merchandise and tickets to paid subscriptions and fantasy hockey § Target fans based on their favorite teams, players, and sentiment § Increased revenue and loyalty from merchandising, GameCenter subscribers and tickets § Better personalization across different channels § Improved targeting and marketing execution GOALS TECHNIQUES BENEFITS § Improved marketing and predictive analysis
- 10. Focus on the Customer EXAMPLE: Luxottica § End-to-end marketing process § Create 360 golden customer profile § Provide high-speed segmentation § Use real-time data feeds for highest level of accuracy § Engaging with consumers in a smarter way § Better customer experience § Higher return on marketing investment (ROMI) GOALS TECHNIQUES BENEFITS § Improved marketing segmentation and predictive analysis
- 11. Focus on the Customer EXAMPLE: Samsung* § Build Global CRM process based on single platform § Establish global standard loyalty program § Reduce lead time in creating campaign plan and target groups § Integrate with predictive analytics § Recognize the right customers at all of channels § Understand what customer wants § From Pushing to engaging § Real-time data analytics § High-performance customer segmentation § Marketing optimization through predictive analytics § Real-time analytics on campaign performance We have chosen SAP CRM and CEI as global standard CRM application due to high-performance capability in planning and analytics. The result of adopting is that we can spend much more time on knowing customer than just changing SQL statement. Head of CRM, Samsung Electronics GOALS TECHNIQUES MARKETING BENEFITS
- 12. Focus on the Customer EXAMPLE: Nikon* Expand commerce capabilities to the rest of the product lines and the rest of the countries in the Americas § Complete solution globally § Execution of sales programs § Internationalization capabilities § Messaging and support information tailored to specific customers and buying channels § Speed and ease of use for large order processing § Expanded product assortment and regions § Increase in customer satisfaction and loyalty GOALS TECHNIQUES MARKETING BENEFITS
- 13. Focus on the Customer EXAMPLE: BOSE § Gain better understanding and insight into customer requirements § Plan and execute sales visits more effectively § Complete solution instead of spreadsheets and paper notes § Planning of sales activities and visits § Management visibility into sales activities § Regional collaboration with all data in one place § Improved data quality through increased visibility § Visibility into entire presales process § Effective customer visit planning thanks to the right insight § Efficient information collection due to entire sales department using the solution SAP Cloud for Sales simply helps us sell more efficiently. Our European sales force has better insight into both customer needs and sales force operations. They can plan and execute visits more effectively and share results, which helps them operate as one harmonized sales team. Nils Oud, Manager of Business Systems, Europe, Bose Corporation GOALS TECHNIQUES MARKETING BENEFITS
- 14. Generate Insight and Actionable Intelligence through Data DATA HELPS CREATE A TAILORED EXPERIENCE Campaigns become actual engagements and not just one-way communication Targeting customers demonstrates a vendor’s recognition of their individual needs Email or smartphone “push” messages become mobile moments Messages convey valuable information that customers care about Transactions convert to exchanges that have a value greater than the item purchased – it is part of an ongoing relationship Take note of what customers like and integrate it directly into your marketing.
- 15. Generate Insight: Marketing Data Management Pull user-specific clickstream and behavioral information. Analyze the activities of millions of online shoppers in order to market correctly to specific subsets. Place banner/Web page panel ads with increased accuracy. DATA MANAGEMENT HELPS:
- 16. Develop a unified view of the customer through real-time data capture, integration and enrichment capabilities. Use advanced analytics to generate deep customer insights: Ÿ Predictive models Ÿ Text analysis Ÿ Data mining Blend structured and unstructured data. Manage known and unknown customers. Generate Insight (continued)
- 17. Harness the Power of Innovation and Agility Social listening and engagement Dynamic segmentation New pricing models Promotions Dynamic Bundles Subscription plans with flexible entitlements USE BUSINESS USER TOOLS AND AUTOMATION TO TRY NEW STRATEGIES LIKE: Use these to leverage explicit and implicit behavior observations to help determine each customer’s intent.
- 18. Market in Real Time SPEED AND AGILITY ARE VITAL. Target the right prospect to maximize Marketing ROI Identify opportunities Make budget adjustments Manage the marketing calendar Align resources Deploy strategies and tactics that map out customer journeys, and understand the details behind the numbers. IN REAL TIME
- 19. Marketing is Not an Impossible Task THE CONNECTION BETWEEN A MARKETING ACTIVITY AND SALES FIGURES IS NOW CLEARER, MORE TANGIBLE, AND LESS EXPENSIVE TO ESTABLISH.