Patrick McLean: Verizon Interactive: A Case Study for Marketing Transformation
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Verizon is undergoing a business transformation to adapt to a digital-first marketing strategy, driven by changes in consumer behavior and a growth in e-commerce and digital ad spending. The focus is on cross-channel integration, customer-generated content, and personalization to enhance the customer experience and align marketing efforts with digital platforms. Key challenges include accelerating behavioral changes, increasing online productivity, and maintaining low channel costs while ensuring consumer trust through transparency and privacy in data usage.
Patrick McLean: Verizon Interactive: A Case Study for Marketing Transformation
- 1. Patrick McLean Verizon Interactive: A Case Study for Marketing Tr ansformation
- 2. Who is Verizon? 2
- 3. Who is Verizon Telecom? 3
- 4. Who people sometimes think is Verizon Telecom? 4
- 5. What we are doing about it? Business Transformation aligned with Social Transformation
- 6. Consumers are living digitally Ecommerce is growing > 20% per year > 50% of online adults now participate in social media Consumers want content aggregated for them, not concerned with source Consumers expect seamless integration across platforms and devices Mobile rapidly becoming a main channel for video and social content Digital ad spending growing at > 25% globally
- 7. We must transform to a Digital Brand Verizon Digital Brand Strategic Imperatives: Imperatives: Cross-Channel Integration Change our Culture & Incentives Customer Generated Content and Social Media Drive Digital Conversations Targeting and Personalization Evolve Online My Verizon Platforms E-Commerce/ Learn & Small Business Sales Center Market With a Digital Focus – Pricing, CTA, Spend
- 8. Digital must become a part of Verizon’s DNA
- 9. Shifting Marketing & Sales to Online Channel Mix 100% 50% 0% 2009 2010 2011 2012 Online Traditional
- 10. Challenges • Accelerate consumer behavioral changes • Increase online channel productivity • Maintain low channel cost
- 11. “When someone acknowledges us as individuals and personalizes our experience based on our unique characteristics, we feel understood and valued. Our feelings of good will increase. Our confidence grows. Our tolerance broadens. “Personalization casts a powerful spell!” Waiting for Your Cat to Bark? Bryan & Jeffrey Eisenberg
- 12. A New Customer Experience – from “One Size Fits All” to Personalized
- 13. Atomic Targeting Get It Now Sports Consumer Movies Methodical Intent Family Learn Collaborator Technology Opinion Movers Shop Seeker Wheeler FWK/Boomers Switchers Buy FiOS Internet Dealer Anonymous & TV Young Adult Singles and Active Tech “What I Shoppers New FiOS Internet Couples want” Acquisition HSI Default - Anonymous 1st Visit Phone New York Return HSI Upsellr Philadelphia FiOS Upgrade & Renewal Florida Existing HSI Upgrade & Renewal National VASIP … Customer Product Shopping Shopping Shopping Life Stage Passions Geography Status Type Set Intent Stage Persona
- 14. Shopping Personas The The Get It Done The Wheeler The Methodical The Opinion Collaborator Decision Maker /Dealer Shopper Seeker It’s difficult enough to Too much detail I’d hate to make the meet everyone’s I love the feeling of slows me down. I just The more I know, the wrong choice so I needs in the house – gaming the system want to check this off less likely I am to be check with people why does the process and getting a great my to-do list as ripped off. who might know have to be so deal. quickly as possible. more than I do. complex?
- 15. Operating Model Dynamic Site Audience Data Infrastructure Personal Web Consistent & cumulative Clear Business Objectives experiences across moments of truth Robust CMS and Audience Analytics Adaptive Learning – Audience Focused Optimization
- 16. The Issues •Transparency •If you tell me what the info will be used for, I’ll tell you something about myself, as long as I can connect the dots •Privacy •I’m okay with having data about myself used to enhance a service, but less cool with profiling me for targeted advertising •Validity •On most days, I’ll trust the recommendations of my friends over the company’s. Why should I trust what you’re telling me?