Optimizing customer value at every interaction
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The document discusses the urgent need for marketing to evolve by optimizing customer value through targeted engagement and personalized campaigns. It emphasizes the importance of understanding consumer behavior and leveraging data to enhance ROI while prioritizing meaningful interactions over traditional broad marketing techniques. The focus is on a capability model for customer engagement, urging marketers to treat customers differently based on their value and preferences.
Optimizing customer value at every interaction
- 1. A NEW ERA FOR MARKETING OPTIMIZING CUSTOMER VALUE AT EVERY INTERACTION Tim Suther Chief Marketing Officer ®
- 2. TOPICS 1. The state of marketing today 2. A capability model for driving customer engagement in a connected world 3. Unlocking value 4. Critical success factors
- 3. THE END IS NEAR… For marketing as we knew it Consumers are boss One night stands Yelling louder Media mix reflects yesterday’s consumption Unsure (or negative) ROI 3
- 4. “Oooh, ahhh, that’s how it always starts. Then later there’s running and screaming.” -Ian Malcolm, -The Lost World: Jurassic Park
- 5. CAPABILITY MODEL FOR A CONNECTED WORLD Target 15-30% of spend to redirect 5
- 6. TAKING FLIGHT… The era of customer engagement driven marketing Connect and project Differentiated value of customers Madmen become mathmen too 6
- 7. EXTRAPRISE…NOT JUST ENTERPRISE Focus on your audience, addressable anywhere, reached with certainty Advertiser Safe Haven Publisher Product Propensities Just Your Audience Online Display TV Channel Preferences Anonymous Match 180mm Profiles 59mm Households Media Preferences Match Mobile Call Center 60mm Users 100 million numbers Anonymize Enhance Advertiser Publisher Audience Audience Social Apps 650mm Profiles Customer Behavior Real Time Data Exchange External Insights Delivery Integration Attitudes / Personas Partnership Ecosystem Email Print 224mm Addresses 292mm Households 7
- 8. THE MASS MARKET IS AN ILLUSION Some customers are worth more than others. Invest & engage accordingly. NARROWCAST, NOT BROADCAST 8
- 9. SPEAKING OF ILLUSIONS… Marketers say… “We generate the branding and strong creative needed to differentiate ourselves in the marketplace.” The CEO/CFO wants to hear… “Our analysis shows our $3 million campaign generated an incremental $22.3 million in revenue. We can continue to generate ROI up to a $4.5 million spend, generating $10.6 million in further revenue, at which point further investment loses money.” 9
- 10. UNLOCKING VALUE Prioritizing marketing initiatives in a connected world 1. Maximize value from existing customers 2. Engage with customers “there” 3. Harvest intent from prospective buyers 4. Generate demand more insightfully 5. Substitute media & channels based upon customer preference
- 11. UH, NOT EXACTLY… 11
- 12. CRITICAL SUCCESS FACTORS Key marketing principles for a connected world Not all customers are created equal. Engage/invest accordingly. Prioritize programs by impact upon customer portfolio value. Target your multi-dimensionally defined audience . Other definitions waste money. Leverage a safe haven to “anonymize & match” proprietary customer data. Demand key partners participate. Remember every interaction & learn. Personalize, coordinate, test & measure Play the data as it lies. Be “in market” in a career relevant timeframe. Harvest “easy money” while pursuing “big money” 12
- 13. ONE FINAL THOUGHT “…in Italy for 30 years under the Borgias they had warfare, terror, murder, and bloodshed, but they produced Michelangelo, Leonardo da Vinci, and the Renaissance. In Switzerland they had brotherly love - they had 500 years of democracy and peace, and what did that produce? The cuckoo clock.” - Harry Lime, The Third Man
- 14. FOR MORE INFORMATION 14
- 15. THANK YOU. QUESTIONS? acxiom.com/FaceBook acxiom.com/LinkedIn acxiom.com/Twitter Discover more at acxiom.com