The Most Important KPIs to Really Drive Your Lifecycle Program
- 1. Lifecycle Marketing Summit How to Innovate, Integrate, and Economize Across Your Messaging Channels DAY 1 | WEDNESDAY, JUNE 7TH Once A Nice To Have, Now A Must-Have: How One Brand is Leveraging Omnichannel Lifecycle Marketing 10 – 10:45am PT | 1 – 1:45pm ET The Most Important KPIs to Really Drive Your Lifecycle Program 11 – 11:45am PT | 2 – 2:45pm ET Lifecycle as an Engine to Power Other Channels: A Panel Discussion 12 – 12:45 pm PT | 3 – 3:45pm ET DAY 2 | WEDNESDAY, JUNE 14TH Lifecycle and AI: Where We’re At and Where We’re Going 10 – 10:45am PT | 1 – 1:45pm ET How to Keep Up Your Creative Testing After Budget Cuts 11 – 11:45am PT | 2 – 2:45pm ET Leveraging Your Tech Stack – Migration Execution: Best Practices for Both 12 – 12:45 pm PT | 3 – 3:45pm ET
- 2. The Most Important KPIs to Really Drive Your Lifecycle Program
- 3. Today’s Logistics Kerry Mallett Content Strategist Recording & slides will be in your inbox tomorrow Download relevant resources Join our chat and submit questions for live Q&A Log back anytime with same link Join our poll questions - including if you want to talk to our teams after!
- 4. WE’VE MASTERED THE MEDIA THAT MATTERS MOST Tinuiti is the largest independent performance marketing firm across Streaming TV and the Triopoly of Google, Facebook, Amazon. Employees Media managed Award-winning culture* $3B #1 1000+
- 5. Some of Our Clients Our Recognition For commerce leaders of today and the future
- 6. Our Speakers KELLY HOSTER - VAN LENTE Senior Manager, Lifecycle Marketing GEORGIA GKOLFINOPOULOU Marketing Strategist
- 7. Agenda ● The Landscape Has Changed – Let’s Dive Into How ● So Where Do We Go From Here? ● Driving Customer Loyalty in the Post-MPP ● Q&A 7
- 8. Have Your Lifecycle KPIs Changed Or Shifted In The Age Of Privacy? ● Yes, they have ● We are in the process of shifting our KPIs ● No, they have not POLL
- 10. 10 One Year Later: iOS 15’s Impact MPP IMPACT ON INDUSTRY OPEN RATES ● Key findings in industry data have reported that, as of October 1, 2022, open rates in the 11 months since the release are 93.6% higher than during the same period the year before* due to more users adapting to the MPP feature. ● Since the update, most brands have seen a steady month over month shift in open rate. Depending on your ESP’s methodology for measurement, this often has resulted led to the large jump in year over year metrics. * Omnisend Report October 2022
- 11. 11 Know Your ESP… Includes anyone who has registered an auto open ever Total opens can include anyone that has a true open + anyone who registered a machine open. Excludes anyone who has registered an auto open in the last 7 days Includes anyone who has opened via Apple Mail Adjusted open rates cannot be used to filter lists Adjusted open rate includes anyone with at least one open event, but excludes anyone with only 1 open event that is attributed to a pre-fetched image Read rates may be deflated due to the pre-load of images Does not include multiple opens or opens from users who have images turned off, but can include pre-fetched and proxied email opens
- 12. So Where Do We Go From Here? 12
- 13. Privacy Rules & Precautions ● Workflows needing open related action before sending a follow-up campaign ● A/B Testing Subject lines and choosing the winner only based on open-rates ● Creating segments based on opens to differentiate between engaged and disengaged ● Unsubscribing customers with a history of low or no opens A few things might be at risk due to Apple’s Privacy changes!
- 14. Other Metrics To Consider ● Click-Through Rate ● Unsubscribes ● Direct Replies/Responses - Purchase, form completion etc. ● Conversion Rate ● Spam/Bounce Rates ● Delivery Rate ● Revenue Per Campaign There’s more to determine a successful campaign than just the Open Rate.
- 15. 15 Clicks are even more important ● Measuring success of the content ● Segmenting and targeting content ● Listening for consumer behavioral cues ● Identifying inactive records ● Driving traffic and conversion actions
- 16. 16 Clicks As Predictor Of Success KPI CLICKERS OPENERS PURCHASERS OR NEW <90 DAYS REMAINING Open Rate 47.09% 57.63% 43.54% 0.98% Click Rate 1.31% 0.15% 0.47% 0.06% Revenue/Delivered $0.0360 $0.0050 $0.0210 $0.0020 Sample data from Tinuiti client testing PURCHASERS/ NEW <90 DAYS CLICKED <120 DAYS ALL ELSE AUDIENCE OPENED <90 DAYS
- 17. 17 Clicks Can Be A Key Clue To Understand Consumer Interests ● Click data can provide significant insight into what a consumer is interested in (or not interested in). ● This provides an opportunity to: ○ Use this data for better targeting content to the consumer in the future ○ Unlock key insights into what consumers are interested in that might not be apparent in other ways.
- 18. Screenshot Cross-Channel Marketing Less time spent on building segmented emails Increase in email list 75% 233% The average industry open rate 2x The women-led media brand expanded into new markets and grew their email list from 30,000 to 100,000 in less than 12 months
- 19. Driving Customer Loyalty in the Post-MPP
- 20. 42% 35% 32% 49% Current Consumer State It’s Time to Truly Personalize Your Messaging Frustrated that messages don’t recognize their shopping or loyalty history.. Annoyed by irrelevant content or offers ...or by messages based on information that hadn’t shared directly with the brand Frustrated that messages don’t reflect their wants or needs
- 21. The Retail Customer Journey “What do my friends suggest?” “I need a new pair of shoes” “Who offers the best value exchange” “Earn points to redeem for just answering questions” “Able to create my own, unique shoes” “Opportunity to be part of a community” “A brand that goes beyond the transaction” “Redeem points for exclusive experiences” Need to Purchase Research Options Sign up Onboard & Educate Engage & Reward Transact & Redeem Repeat Example Of How One of Marigold’s Retail Clients Collect Data Today
- 22. The Importance of Zero-Party Data Observe behaviours Desired change - transactional v non transactional Reveals Wants & Needs What products are important? Captures preferences What and when? Describes Audiences Who are my customers / prospects? Powers insights Evaluation and optimisation Drives Communications Campaign planning Informs targeting Who we need to reach Enables personalisation What they need to hear
- 23. Screenshot Screenshot Create customer insights to further enhance experiences Inform the experiences with omni-channel brand interactions Create authentic, personalised experiences Data Enrichment & Value Exchange Build rich segments that activates the data collected to deepen relationships $5.6M Sales tracked to the campaign 100k Zero-party data records collected
- 24. Nurturing 1:1 Relationships Relationship Building Foster a continuous value exchange with the customer Engage with them at the right time Unify loyalty and marketing Know all that is knowable about the customer
- 25. Screenshot Personalized Experiences: Just-in Time Marketing Just-in-Time Marketing provides the capability to: ● Listen and react to user signals on the web, online store, and mobile app. ● Personalize the customer experience. ● Support online actions via messaging. ● Ensure the right incentives and offers are in place for each user. Implementing Just-in-Time Marketing has a significant positive impact on: ● Customer engagement. ● Expanding opportunities to cross-sell and up-sell. ● Improving triggered interactions' effectiveness and conversion rates. 39% increase in conversion rates after partnering with Sailthru 35% increase in average time spent on-site for Magnolia's email subscribers
- 26. Loyalty & Retention Grow Your Database Build Consumer Profiles Unify Your Datasets Segment & Analyze Cross-Channel Engagement Personalization At Scale Reward Loyalty Foster Advocacy Loyalty Member Retained Customer Known Customer Unknown Consumer The Marigold Consumer Trends Index for 2023 revealed that: ● 59% of consumers are happy to pay more to purchase from their favored brands. ● This number has risen 4% since 2022. Building loyalty is about emotion and connection. To achieve this: ● Lean into recognizing each customer's actions, transactional or other. ● Determine how to incentivize your customers to take easy and trackable actions. ● Offer value above and beyond the purchase. ● Use all of your data streams to understand customer behavior in-depth. If you have built a profile on a customer that includes psychographic data: ● You should have the intelligence needed to make them your best friend. ● This is the state where loyalty kicks in and lifetime value is measurable.
- 27. Key Takeaways 1. Know Your ESP and the Measurement Methodology 2. Be Aware of Potential Changes to Workflows and Segmentation Strategy 3. Collect & Analyze Data That Matters 4. Personalize Your Messaging & Leverage In-Time Marketing 5. Foster Loyalty and Brand Advocacy
- 28. Schedule Your Consultation with a Lifecycle Expert
- 29. Q&A KELLY HOSTER - VAN LENTE Senior Manager, Lifecycle Marketing GEORGIA GKOLFINOPOULOU Marketing Strategist
- 30. 30 The 2023 Privacy Study HOW US CONSUMERS REALLY FEEL ABOUT ONLINE PRIVACY AND MARKETING IN 2023 ACCESS NOW
- 31. Thank you!
- 32. Lifecycle Marketing Summit How to Innovate, Integrate, and Economize Across Your Messaging Channels DAY 1 | WEDNESDAY, JUNE 7TH Once A Nice To Have, Now A Must-Have: How One Brand is Leveraging Omnichannel Lifecycle Marketing 10 – 10:45am PT | 1 – 1:45pm ET The Most Important KPIs to Really Drive Your Lifecycle Program 11 – 11:45am PT | 2 – 2:45pm ET Lifecycle as an Engine to Power Other Channels: A Panel Discussion 12 – 12:45 pm PT | 3 – 3:45pm ET DAY 2 | WEDNESDAY, JUNE 14TH Lifecycle and AI: Where We’re At and Where We’re Going 10 – 10:45am PT | 1 – 1:45pm ET How to Keep Up Your Creative Testing After Budget Cuts 11 – 11:45am PT | 2 – 2:45pm ET Leveraging Your Tech Stack – Migration Execution: Best Practices for Both 12 – 12:45 pm PT | 3 – 3:45pm ET