The Modern Marketer Understanding data science and the - - PowerPoint PPT Presentation

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The Modern Marketer Understanding data science and the - - PowerPoint PPT Presentation

Jan 08, 2024 498 likes •860 views

The Modern Marketer Understanding data science and the multi-channel, multi-device shopper Ben Glynn Managing Director, Emarsys SEA @Emarsys The challenges all modern retailers face Identifying more contacts, collecting more data

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The Modern Marketer

Understanding data science and the multi-channel, multi-device shopper

Ben Glynn Managing Director, Emarsys SEA

@Emarsys

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The challenges all modern retailers face

  • Identifying more contacts, collecting more data
  • Reaching more contacts
  • Utilizing machine learning and crowd wisdom
  • Blending offline and online into one unified experience
  • Matching experience to the channel
  • Applying automation and decision-making
  • Discovering the most profitable customers
  • Maximizing investment efforts
  • Utilizing intelligence to maximize lifetime value

@Emarsys

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Broken Marketing Experience!

DATA AND CHANNEL SILOS

Activity Focused Marketing

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Email SMS Push Web

REASON? Broken Customer Experience!

Display

Store

Social

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Broken Marketing Experience!

DATA AND CHANNEL CONSOLIDATION

OUTCOME FOCUSED STRATEGY

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Case Example: Singapore Customer Data

Benchmark How to Achieve

Average Open Rate 16.7% Average Click Rate 4.7% Ave order size SGD 120 Profit Margin 20% ( SGD24) Cost of Acquisition SGD 40 Profit on first time purchase SGD -16.00 Website Conversion Rate 1.66% Email Conversion Rate 3.43% Number of repeat vs first time purchasers Unknown Churn Rate Unknown LTV Unknown

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The leaky bucket

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Frequency Results (3 years of data)

71. 04 % 28. 96 %

FREQUENCY

First Time Recurring

22% 78%

REVENUE

First Time Recurring

  • Recurring buyers

spend over 5X more than first time buyers

  • n average
  • Convert first time

buyers to recurring customers to significantly improve revenue

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Recency Analysis (3 years data)

11 % 46 % 43 %

RECENCY

Active Defecting Inactive

18. 3% 50. 52 %

31.1 7%

REVENUE

Active Defecting Inactive

  • Majority of customers

are either lost or starting to lose

  • 81% of the revenue
  • ver last 3 years

contributed from lost/almost lost customers

  • The business must

acquire more than they lose, or drastically change their strategy to a retention focus

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50,000 100,000 150,000 200,000 250,000 300,000 Low Normal Silver Gold Platinum Contacts Revenue

  • Managing customers

by their spending status is essential, particularly for those few high spenders.

  • Customer spend is

varied - a small group (14.93%) of customers contribute over 68%

  • f the total revenue

Monetary Analysis (3 years data)

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11

Emarsys Recommendations

Increasing 1st to 2nd Purchase rate Defecting customer prevention Segment by Spending Status/Loyalty

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Understanding the customer lifecycle

INCREASE CUSTOMER LIFETIME VALUE

REVENUE TIME

Engage & Grow

ACTIVE CUSTOMERS

Convert more leads LEADS FIRST-TIME BUYERS ACTIVE BUYERS DEFECTING CUSTOMERS

1 2 3

Increase retention and win back inactive customers

@Emarsys

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Example – ‘Outcome’ focused Abandoned Shopping Cart Increasing 1st to 2nd Purchase rate

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Select Our First time Buyers Segment

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Engaging Jane

Not responding... Not responding… Finally made a purchase! Jane

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Engaging the first time buyer, Jane

Forget something? Check

  • ut your special offer. Buy

1 get 1 free! slide to view message

Check out your items with the discount before it expires! Check out your items with the discount before it expires!

$15

DISCOUNT

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Engaging Jane when she’s not 1st time

Your Black Dress is running out of stock. Make sure you bring it back home! Check out your items with the discount before it expires!

$50

DISCOUNT

$10 OFF

$10

DISCOUNT

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Engaging Jane with mobile push notification

First time buyer Jane Normal Jane

Forget something! Check

  • ut your welcome special
  • ffer. Buy 1 get 1 free!

slide to view message Don’t forget to checkout your Lovely Black Dress! It’s running out of stock! slide to view message

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Engaging Jane with email

First time buyer Jane Normal Jane

Check out your items with the discount before it expires!

Your Black Dress is running out of stock. Make sure you bring it back home!

$10 OFF

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Engaging Jane on Facebook

First time buyer Jane Normal Jane

Check out your items with the discount before it expires! Black Dress is running

  • ut of stock. Make sure

you bring it back home!

$15

DISCOUNT

$10

DISCOUNT

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Results overtime: Revenue impact by purchase stage (Before)

Close to 80% of all revenues from single purchase customers

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Results overtime: Revenue impact by purchase stage (after)

Now (50%+) revenues generated from repeat customers & increasing

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01

Omnichannel personalization – automate and personalize

@Emarsys #TrustTheMachine

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ACROSS CHANNELS

The Emarsys Approach

Retention Conversion

COLLECT TRANSFORM EXECUTE CAPTURE DATA ANALYZE AUTOMATE PERSONALIZE

Personalization Layer UNIFIED PROFILE

UNIFY DATA SCIENCE BASED ACTIONABLE INTELLIGENCE

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Take action across customer lifecycle

Brand interaction Time

3

EARLY DORMANCY NOTIFICATION

1

INTRODUCTORY OFFERS WELCOME BACK

2

RE-ACTIVATION PROGRAM

3 3

SURVEY / OFFERS WELCOME PROGRAM

1

  • 1. Customer
  • 2. Known active customer
  • 3. Known inactive customer
  • 4. Lost customer

LOST CUSTOMER

4 2

STATEMENTS

2

BIRTHDAY / ANNIVERSARY

2

CROSS SELL / UP SELL

1

SURVEY

1

NEWSLETTERS

1

LOYALTY OFFERS

2

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Post Store Purchase

Purchased offline Send email Include treatment / recs / near

  • ffers

Revenue attribution

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Exit detected Did not purchase Send email Include treatment / near offers Revenue attribution

Abandoned Store

beacon enabled

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Returned goods recovery

Returned goods Send email include treatment / related recs / near offers Revenue attribution

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A personalized customer experience: Decathlon

@Emarsys #TrustTheMachine

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The Solution

Data Integration + Purchase Analysis + Customer Lifecycle execution + Recommendation technology

@Emarsys #TrustTheMachine

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Automated Lifecycle Programs

Abandoned Cart Birthday Welcome Abandoned Browse First Time Buyer Post Purchase Win Back @Emarsys #TrustTheMachine

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How does that look on the lifecycle?

Brand interaction Time

3

EARLY DOMANCY NOTIFICATION

1

INTRODUCTORY OFFERS WELCOME BACK

2

RE-ACTIVATION PROGRAM

3 3

SURVEY / OFFERS WELCOME PROGRAM

1

  • 1. Customer
  • 2. Known active customer
  • 3. Known inactive customer
  • 4. Lost customer

LOST CUSTOMER

4 2

STATEMENTS

2

BIRTHDAY / ANNIVERSARY

2

CROSS SELL / UP SELL

1

SURVEY

1

NEWSLETTERS

1

LOYALTY OFFERS

2

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The result

50%+

Total website revenue Through retention channels

120%+

Increase in revenue from repeat purchases

748%

ROI after five weeks

  • f implementation

@Emarsys #TrustTheMachine

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The Modern Marketer

Understanding data science and the multi-channel, multi-device shopper

Ben Glynn Managing Director, Emarsys SEA

@Emarsys