At Dreamforce 2015, Joel Book (@joelbook), Principal, Marketing Insights – Salesforce Marketing Cloud, presented on how to use digital marketing to acquire, engage, and retain customers. The session abstract:
Today’s consumers are hyper-connected, better informed, and more empowered than ever. And they expect brands to deliver personalized offers, information, and service at every stage of the customer life cycle. To acquire and retain the new consumer, customer-centric brands are rapidly replacing ineffective, fragmented, one-size-fits-all mass advertising campaigns with data-driven, one-to-one communications that are tailored to the needs, interests, and location of the consumer. As a result, these companies are converting more shoppers to buyers, producing higher revenues, and improving customer retention. Join us as Joel Book of Salesforce Marketing Cloud discusses the major trends that are driving the convergence of marketing, sales, and customer service, and shares examples of companies using 1:1 omni-channel digital marketing strategies powered by Email, Mobile, Social Media, and Web Personalization to acquire, onboard, and retain customers.
What’s Happening
A seismic shift is occurring in Marketing.
Statistic: 82% of U.S. consumers research online before buying. (UP, comScore, and The e-tailing group)
Statistics: 62% of consumers know what product they want to buy before ever entering a store.
Statistic: 85% of shoppers expect self-service access to digital content
Best practice: Job one is to make your site optimized for mobile
Best Practice: Provide useful content on your site.
Statistic: 57% of the B2B purchase decision making process is complete before the buyer contact a supplier (CEB and Google 2013)
Statistic: 67% of B2B buyers view 3 to 7 pieces of content before they talk with a salesperson (DemandGen Report)
SERVING HAS BECOME THE NEW SELLING!
Statistic: in 2014 smartphones and tablets surpassed desktops and laptops as the leading devices consumers use
Statistic: 93% of people use a mobile device for research go on to make a purchase.
Statistic: 78% of US mobile device users prefer mobile push notification
Statistic 53% of all emails are opened on a mobile device
Statistic: 90% of US internet users are email subscribers
Statistic: 69% of US adults have made purchases after receiving an email
Statistic: 74% of consumers rely on social networks for decisions.
Statistic: 72% of customers who post a complaint on Twitter expect a response within one hour
What this means
It’s all about the customer experience. Customer experience has become the new marketing.
- Understanding the cjstomers needs and expectation
- Data is digital fuel for customer engagement
- First party data (provided by the customer)
- Implicit or observed data
- Progressive profiling enable brands to personalize
- Personalized content drives higher conversion
- It’s an increase of 6-9% on conversion rates
- Recommendation: take a hard look at predictive intelligence
Room & Board probably does digital marketing the best.
- Delivers personalized recommendations via email, and the website
- They increased their average order value by 16%
- Direct conversion from customer who engage with predictive content is 150% higher than the site average
All marketing is now cross-channel. It could be social, mobile, in-store. Every channel matters.
Volvo
This is your B2B example B2B maketers. They have one of the most elegant strategies for cross channel marketing. Everything is focused on the customer. They have multiple channels:
- Three social channels
- Website chock full of great content
- 130 dealers
- Tradeshows
- Email: the lynchpin
- Monthly email newsletter
- Bi-monthly remarketing email
- Personalized to your industry
- SEO and Social drive site traffic
- It’s designed to attract browsers for specific solutions
- Twitter, Facebook, and Youtube drive traffic to the website
- Facebook has been their most effective social tool to generate leads
- They leverage custom audiences from facebook. It works.
- Custom audience
- Take Volvo db and deliver email addresses to facebook to find matches
- Facebook finds look alike people
- Sending ads to them
- Anyone who visits the site is invited to receive the Volvo email newsletter
- Email is the single best channel for generating leads
- Monthly Newsletter
- Specific to industry like road construction
- Remarketing Newsletter generates leads that help dealers sell pre-owned machines
- All interactions tracked in the system
- Leads passed to dealers
Results: it has generated leads to help dealers sell $100 million dollars worth of new and used equipment each year.
Marketing, Sales, and Customer Service Functions are Converging
Brands have to get serious about delivering relevant content to the buyer / customer at every phase of a customer lifecycle. This is why Journey Management has become invaluable. Joel talked up the Journey Bulider
Brands that use Journey management
- +36% custom sat
- +15% revenue growth
- etc
L’Oreal
Have an award winning app called Makeup Genius. It’s a virtual tool to let you see how a L’Oreal product will look on a person. Download of the app starts the journey.
You have to do what L’Oreal and others are doing because Amazon, Uber, and others are taking the customers time. You are competing for their time.
CUSTOMER EXPERIENCE DRIVES BRAND ADVOCACY
Prediction: By 2019, CMOs predict Digital Marketing will account for 75% of the marketing budget.
Right now, only 25% of the budget is in digital marketing. That’s a huge swing in the next five years.
This is great data and synopsis. Thanks a ton Michael!