ExactTarget – The New eMarketing Essentials

Very useful and informative conference! Thank you ExactTarget 🙂

The main idea that I think went to most of the presentation was: back to the basics.

  • Technology is secondary, strategy is primary.
  • The customer must be in the center; human psychology is essential.
  • However, if the infrastructure is not nailed down, strategy does not matter… (IT-Marketing dialog, stakeholder understanding, budget/resources)

Exact Target presented the Digital Marketing Pyramid, which I think was very insightful.
ExactTarget - The eMarketing Pyramid
The pyramid rests on the basics, and the top of the pyramid is unique for each business. The top can include blogs, landing pages, Facebook initiatives, Twitter, etc. The foundation of the pyramid has the highest long-term ROI.

The pyramid should not be static, the results of the performance of the pyramid components should be constantly measured, analyzed and optimized. This is vital, this is the basic.

Search – to attract
Web site – to engage
E-mail – to serve

Ideas to use:

  • From the perspective of the pyramid…  you don’t have to do everything 100% well; you just need to chose what you can do much better
  • CRM is not just technology. Strategy should be first and success depends on the process.
  • If you are in e-mail marketing, participate in the CRM conversation
  • Only 6% of top marketers said that they have excellent knowledge of their customers…  If your boss does not know, stop feeling guilty!
  • 9 out of 10 site visitors leave without identifying themselves
  • 92% of businesses go online to research products/supplies
  • 51% of consumers research online then complete their purchase off line
  • The sales cycle actually increases 22% because of the Internet…  it is possible to do more research
  • The web site need to engage, help to make decision…
  • Search is temporal (I need to find…)
  • E-mail is relational (communicate with me…)
  • E-mail marketers should be “subscriber-centric”

Case study: Anthem uses e-mail to educate consumers how to use the web site to self-serve – the result is over $2,000,000 savings on the call center

Case study: Jamba Juice. They did not forget the basics – promotion on their own site and allowing existing customers to spread the news about an available discount…  the promotion became viral…  because of the promotion’s success, it had to be stopped.

Case study: Papa Johns listened to what customers needed. Online ordering system allows setting preferences and ordering via cell phone short code. This arrangement made very easy to do business with the company. Also, uses widgets for easy downloads. Before: Friday nights phones were ringing, now more people order online or through mobile. The moral – serve, don’t sell…

Case study: Banana Republic. E-mail coupon can be sent directly to the mobile phone and scanned from the mobile phone in the store. The company listened to their customers.

Recommendation: e-mail welcome series. First 30 days after subscribing is the e-mail “honeymoon” when the subscriber is particularly receptive. Send a “welcome series” that can include a welcome e-mail, an educational info, and a soft sell.

Recommendation: pay attention on the behavioral targeting. Weekend plans are usually investigated after Wednesday. Senior level executives often are more receptive to an e-mails sent over the weekend (this is a time when they catch up on their e-mails). For the behavioral targeting (and in general) – test, test, test…

Recommendation: transactional messages can be used for additional promotions; the promotions can be positioned as a benefit to the consumer.

Recommendation: re-marketing messages – sending a specific e-mail to those who clicked but did not buy…

Recommendation: start with new paradigm of thinking – think about e-mail holistically and consider how it impact the rest of marketing. End the campaign silos!!! 

A few more ideas from the event:

  • PPC landing page: use confirmation page to promote further – expand PPC spend
  • People who buy products marketed through e-mail buy more
  • 2% of people subscribe to RSS, while 99.9% use e-mail
  • E-mail (as PPC) as a market research tool – gives product-development ideas what is interesting for consumers.
  • “If you don’t test, you won’t get better”
  • “Web Analytics is nothing without an action on top of it.”
  • One company: hooking e-mail and analytics together brought over $1,000,000 in additional revenue
  • Any campaigns produced by the organization need to be coordinated with the web site. Very often these silos don’t communicate. Focus on your web site…
  • Often, web sites are built as monologues… but customers demand a dialog
  • Segment-Based targeting can include geo/day part targeting…Wednesday v. Saturday are different product interest
  • How can I target the whole site to a segment/date, etc?  Only 3 top pages need to be targeted.
  • Targeting the log-off page…
  • Average lift from targeting – 71% of revenue increase
  • But… the politics…  ??  When testing and targeting enabled, product managers know that they will get real estate when it makes sense
  • Web test results need to be conveyed to traditional marketers for their benefit…
  • All spend on marketing programs should be split into two parts: 15% of the spend should be used for the optimizing the remaining 85%. This approach gives higher returns.
  • E-mail is not dead…  it is quite well and evolving…  by 2009 60% of e-mail will be read not in the in-box…
  • E-mail is not “one-off”

Customer desire changed

Web 1.0             Web 2.0                   Web 3.0
Access               communicate          co-create

Wonderful conference, wonderful location, and great food!  🙂

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MIMA – Duality Reality: Who Controls Social Media In The Enterprise?

Another great event!!  Interestingly, AMA and MIMA presented two wonderful events about social media in two days – it was such a treat 🙂

MIMA promptly uploads images and podcasts to its Web site; we can review the event any time we like 🙂

Beside wonderful discussion, some ideas were particularly interesting for me personally:

  • Ratings and reviews on the sites of major corporations – helps to engage customers…  Why not? Why hide “the head in the sand?”
  • Recruiting sites are sprouting on Facebook
  • To engage customers/prospects socially – you have to be useful…  provide useful tools…
  • Audience over 40?  Larger font…  The “killer app” for this audience has not been discovered yet…  This audience is not too excited by Superpoke, etc.
  • Social messaging  – party analogy: “what is your brand look like when it is social?”
  • A gem of a thought: experimentation with social media should be pulled out from product development budget, not from the marketing budget…  ROI for social technology is not quite clear…  but contribution to the product development is obvious…
  • As long as the brand is authentic, fans will forgive mistakes…
  • How to start: start with something that allows listening… with some association with the brand…
  • BestBuy is using social technology for its internal communications…
  • Interesting site: http://www.whoshouldifollow.com/ finding who should you follow on Twitter (yes, it is rather difficult… 🙂 ) 

MN AMA – Welcome to the Social Enterprise: A Discussion of Enterprise 2.0 Applications and Concepts

May educational event Welcome to the Social Enterprise: A Discussion of Enterprise 2.0 Applications and Concepts(Chris Dykstra, Founding Partner, Warecorp) was very insightful as expected.  Every AMA event gives me an idea or an approach to ponder.

Interesting points from the presentation:

  • Social networks are part technology and part philosophy…
  • Social networks are the results of human desire to connect and collaborate
  • Web 2.0 users are trusted to create their own experience
  • Web sites lunch empty; users (not the site owners) create the content and organize it
  • What users do: 1. create > 2. organize  > 3. customize

Chris Dykstra is also the owner of http://www.zanby.com/ – a social networking site.  The main differentiation of the site is its ability to “network” groups of people. This functionality can be used by chapters of national organizations, or departments of a company.

  • The purpose of IT is to enable communication…
  • How to create a social networking in the enterprise?  Philosophical shift should come first, the technology will follow

 

The Goal

The Goal by Eliyahu M. Goldratt

Oh, I just fell in love with the theory of constraints! 

The book was written over 20 years ago, but, remarkably, it depicts in vivid details our world…  Just change “robots” to “web sites” and the same assumptions will be correct…  We are trying to make robots/web sites “work” by releasing more materials/ad budget, and…  create inventory of parts/clicks that we are not able to utilize… and the inventory becomes obsolete…  While we are missing the goal: the robots/web sites/anything the company uses should ultimately increase the profit…

Ha!  Nobody smokes in the office anymore, but too many companies make the same errors that were so spectacularly described more than 20 years ago… 

I am looking forward reading more about the theory of constraints.

Primal Leadership: Learning to Lead with Emotional Intelligence

Primal Leadership: Learning to Lead with Emotional Intelligence, by by Daniel Goleman, Richard E. Boyatzis, Annie McKee.

Excellent!  The book combines Emotional Intelligence and Leadership into a theory with examples and recommendations…  Wonderful explanation of leadership styles and a humble note that leadership (and certain styles) can be learned.  It was a pleasure…

MDMA – Conference – It’s a Brave, New Marketing World

MDMA conferencewas enticing enough to attend, and the event did not disappoint my expectations.

I must admit that John Sweeney, the keynote speaker was spectacular. I don’t have much interest in theater as a art form, but this presentation was the most memorable, and I would say one of the most useful. It opened my eyes on value of idea generation… and power of no fear of rejection. If the ideas are criticized before they leave the mouth of their creator…  not much will be shared…  Hm…  Interesting…  I also experienced the “removal of constrains” myslef…  very interesting… 🙂

Other little notes from the conference:

  • Retail: web site can be similar to the layout of the store to help customers fining what they need
  • E-mail (or other channel) – paying attention on opt-outs. Why do they leave?
  • “multi-channel customers” might like to purchase through multiple channels
  • Telemarketing is the method of marketing the most disliked by US adults
  • Segmenting messaging can increase response rate three times
  • Initial customer segmentation may not be based on data…  but rather industry/company structure or tradition… Oh, yes… 🙂