W E B I N A R Custora + Borderfree Segmentation success stories: US + abroad C O R E Y P I E R S O N , C O - F O U N D E R , C U S T O R A K Y L E S H E P H E R D , M A R K E T I N G , C U S T O R A M I K E G R I F F I N , C L I E N T S T R AT E G Y A N D O P E R AT I O N S , B O R D E R F R E E C H AT T H E M . 1 1 Q U E S T I O N S ? C U S T O R A
A few reminders 1. Why we’re here 2. Chat your questions 3. Q+A at the end 4. Winners selected 5. Will share deck & recording C H AT T H E M . 2 2 Q U E S T I O N S ? C U S T O R A
Today’s Agenda T 1. Welcome 2. Custora: Putting segmentation into action 3. Borderfree: Customer segmentation in cross-border e-commerce C H AT T H E M . 3 3 Q U E S T I O N S ? C U S T O R A
W E B I N A R Custora Putting segmentation into action C O R E Y P I E R S O N , C O - F O U N D E R , C U S T O R A K Y L E S H E P H E R D , M A R K E T I N G , C U S T O R A C H AT T H E M . 4 4 Q U E S T I O N S ? C U S T O R A
Intro to Custora We’re working with sharp teams. Custora is a predictive marketing platform built for e-commerce teams. We help retailers acquire valuable customers and improve customer retention . Tools This is our sweet spot Teams Data C H AT T H E M . 5 5 Q U E S T I O N S ? C U S T O R A
We work with sharp teams C H AT T H E M . 6 6 Q U E S T I O N S ? C U S T O R A
Custora Agenda T 1. Email + segmentation 2. Balancing demands 3. Testing 4. Bringing it all together C H AT T H E M . 7 7 Q U E S T I O N S ? C U S T O R A
Email drives orders 15% of e-commerce orders in May 3rd behind search and a f liate Data based on The Custora E-Commerce Pulse: Tracks real-time e-commerce transaction data from over 100 US retailers, over 100 million online shoppers, & over $40 billion in e-commerce revenue. C H AT T H E M . 8 8 Q U E S T I O N S ? C U S T O R A
Types of Email Transactional Daily / Calendar Lifecycle C H AT T H E M . 9 9 Q U E S T I O N S ? C U S T O R A
Segmentation dimensions Demographic Behavioral Geography Purchase behavior Age Promotion behavior Gender Site behavior Income Email behavior Marital Status Mobile behavior Life-stage demographics Lifecycle Segmentation Persona Segmentation Acquisition Channel C H AT T H E M . 1 0 1 0 Q U E S T I O N S ? C U S T O R A
W E B I N A R Poll time C H AT T H E M . 1 1 1 1 Q U E S T I O N S ? C U S T O R A
Poll T What is the biggest obstacle to improving your email segmentation? Choose what most closely resembles your situation A. Creative doesn’t have enough bandwidth to create multiple email versions B. We don’t have good insight into the most effective way to segment customers C. We have a strict merchandise calendar that we must incorporate D. Segmentation takes time, we need more automation E. We lack a process for testing current segments and improving them C H AT T H E M . 1 2 1 2 Q U E S T I O N S ? C U S T O R A
Finding a balance Creative Customer Merchandise demands C H AT T H E M . 1 3 1 3 Q U E S T I O N S ? C U S T O R A
Product a f nity segmentation Target customers who are likely to want certain products, despite not having previously purchased. Creative Customer Merchandise demands C H AT T H E M . 1 4 1 4 Q U E S T I O N S ? C U S T O R A
Product a f nity segmentation Finding a balance Target customers who are likely to want certain products, despite not having previously purchased. Creative Customer Merchandise demands C H AT T H E M . 1 5 1 5 Q U E S T I O N S ? C U S T O R A
Product a f nity segmentation Target customers who are likely to want certain products, despite not having previously purchased. Creative Customer Merchandise demands C H AT T H E M . 1 6 1 6 Q U E S T I O N S ? C U S T O R A
Product a f nity segmentation Target customers who are likely to want certain products, despite not having previously purchased. Creative Customer Merchandise demands C H AT T H E M . 1 7 1 7 Q U E S T I O N S ? C U S T O R A
Modular content Static content C H AT T H E M . 1 8 1 8 Q U E S T I O N S ? C U S T O R A
The importance of testing Simple A/B Test A B C H AT T H E M . 1 9 1 9 Q U E S T I O N S ? C U S T O R A
The importance of testing Simple A/B Test Controlled experiment A Control A B B C H AT T H E M . 2 0 2 0 Q U E S T I O N S ? C U S T O R A
The importance of testing Simple A/B Test Controlled experiment Complex experiment A A Control Control A B B B A Control B C H AT T H E M . 2 1 2 1 Q U E S T I O N S ? C U S T O R A
Persona segmentation Identify personas hiding in their database. Leading Properly test the impact of different creative. Fashion Retailer C H AT T H E M . 2 2 2 2 Q U E S T I O N S ? C U S T O R A
Persona segmentation Surfaced an “accessories” persona. Leading Saw substantial li fu vs. the control groups. Fashion Retailer C H AT T H E M . 2 3 2 3 Q U E S T I O N S ? C U S T O R A
Bringing it all together Analyze Data What can we learn from the data? What customers stories emerge? Automate what works Conduct Identify experiments opportunities Let’s try some ideas Who’s “at risk”? and see how they go. What do we send them? When do we send it? C H AT T H E M . 2 4 2 4 Q U E S T I O N S ? C U S T O R A
AOV Segmentation Analyze Data What are the different tiers in my customer base? Automate what works Leading Online Retailer Conduct Identify experiments opportunities C H AT T H E M . 2 5 2 5 Q U E S T I O N S ? C U S T O R A
AOV Segmentation Analyze Data Automate what works Leading Online Retailer Conduct Identify experiments opportunities What is the goal? What can we do right now? C H AT T H E M . 2 6 2 6 Q U E S T I O N S ? C U S T O R A
AOV Segmentation Analyze Data Automate what works Leading Online Retailer Conduct Identify experiments opportunities Lower priced products to lower AOV customers, and vice versa C H AT T H E M . 2 7 2 7 Q U E S T I O N S ? C U S T O R A
AOV Segmentation Silver Gold Platinum C H AT T H E M . 2 8 2 8 Q U E S T I O N S ? C U S T O R A
Add’l resources Custora E-commerce Pulse Custora U Courses Customer-Centric Marketing Customer Lifetime Value Segmentation Lifecycle Marketing Cohort Analysis Predictive Analytics High Growth Fashion Index C H AT T H E M . 2 9 2 9 Q U E S T I O N S ? C U S T O R A
Customer Segment ntat atio ion n in Cross- Bor Border Ecom commerce Mike Griffin, Sr. Director, Client Strategy and Operations June 10 th & 11, 2015
Key Messages Communicating to your international consumer Importance of Segmentation • Recognize the state of your brand across the globe • Recognize your audience • Customize and Segment • Email, Social & Site Setup • Product Assortment, Availability and Sales Profile • Language and Cultural Customs • Holidays and Seasonality • Duty and Tax Treatment • Recognizing when not segmenting is just as important • 2
Importance of Customer Segmentation In an international sphere, our effectiveness and efficiency to reach customers extend to cover global locations and foreign languages. 3
Raise and Drive Brand Awareness 4
Poll Ar Are international customers greeted any differently upon entering yo your site experience? A) Yes B) No 5
Recognize and Speak to Your Audience 6
Poll Ho How are your international emails segmented? A) By country/region B) International vs. Domestic C) My international emails are not segmented 7
Segment Domestic & International Emails Language Translation 8
Segment Domestic & International Emails Cultural Sensitivity 9
Understand What Converts Well in Which Regions Canada UK Apparel and Michael Kors Children’s clothing Middle East Gowns Asia Beauty & Michael Kors Brazil Furniture Australia Apparel 10
Customize Product Assortment Un United Ki Kingdom Au Australia & & & Canada Ar Argentina Avoid promoting winter coats in summer Avoid promoting swimsuits in winter 11
Customize Product Assortment Seasonality 12
Customize Product Assortment Restrictions 13
Recognize the Language Barrier Keep it simple and focus on what to take off rather than what to add 14
Recognize the Language Barrier Be visual by using graphics to bypass translations 15
Recognize the Language Barrier Be wary of translations since nuances exist within the same language between different geographies Fr French Fr French Canadi dian English En Acheter en ligne Magasiner en ligne Buy online Livraison Expédition Shipping Service clientèle Centre d'aide Customer service Solde Chute de prix On sale 16
Poll How would you descri ribe your marketi ting efforts rts in inte tern rnati tional ec ecommerce (as a % of sales)? )? A) More than US B) Same as US C) Significantly less than US D) Little to no marketing internationally 17
Capitalize on Domestic Promotions Leverage and offer existing sales to international consumers 18
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