Transcript: Communications Strategy I need / I want 1. Discovery Strategy Market Research Communications Communications Strategy I need / I want Strategy Market Research Strategy Strategy I need / I want Communications Market Research Communications Communications Market Research 1. Discovery I need / I want I need / I want I need / I want Communications Strategy Market Research Communications Market Research I need / I want I need / I want Market Research Market Research 1. Discovery Market Research 1. Discovery I need / I want Communications Communications 1. Discovery 1. Discovery I need / I want Market Research 1. Discovery Strategy Strategy 1. Discovery Strategy 1. Discovery 1. Discovery
Transcript: execution user voice Creativity experimentation Business Value idea generation monetization iPipe funding & PoCs prioritization projects Diversity is important Challenge the Status Quo Questions are valued as much as answers A good idea is not always instantly recognisable No-one has a monopoly on Innovation Innovation is a process Passion and Perseverance is key We will fail - but let's fail intelligently, and quickly Innovation Guiding Principles
Transcript: Segmentation Methods: RFM(Recency/Frequency/Monetary) Time Being A Member Next Step... Which detailed Life Cycle stage is this customer at? 1. Cleaning up Business Logic 2. Defining Key Metrics Internet Product Users Life Cycle 3. Setting up Definitions for Life Cycle Stages 4-1. Picking the Best User Guiding Path for New Users 4-3. Preventing Inactive Users from Leaving Value vs. Time model 4-2. Optimizing Existing User Experience 4-4. Calling back Lost but Potential Users Contents 1. Traditional Marketing AAARRR and Purchase Funnel model How to Measure Lawson Examples Simplified - Kmeans Cluster for Number of Visits Count for each cluster Mean for each cluster 2. Internet Product Operation Value vs. Time model Segmentation Methods AAARRR and Purchase Funnel Awareness Aquisition Favorable Opinion 3. Lawson Examples Simplified Activation Consideration Note: users who visited 28 or more times in any month have been removed. Retention K-means cluster result RFM result Comparison Revenue Mean for each cluster How To Measure - Brand Tracking Research Awareness/Familiarity Purchase Referral Lawson Example Simplified - Labelling with RFM and Life Cycle Stage Lawson Example Simplified - Kmeans Cluster for Payment Count for each cluster Research Object: users who made at least one purchase in May/June/July 2020. Note: users who visited 90 times or more in three months have been removed. Note: users who visited 28 or more times or spend more than 2000rmb have been removed. Methodology: Quantitative Tracking Study Objective: Continuously monitor key metrics of target brand and competitors Customer Life Cycle Analysis key Metrics include: Awareness Preference Usage & Experience Perception Attitude etc...
Transcript: Social media marketing is a powerful way for businesses of all sizes to reach prospects and customers. Your customers are already interacting with brands through social media, and if you're not speaking directly to your audience through social platforms like Facebook, Instagram, and Pinterest, you're missing out! Social Media Marketing can include: Facebook Competitions; Facebook Posts with new Offers; Boosted Adverts; and Social Media Influencers. The Wow aspect of the customer lifecycle is made up of Experience and Bonding. Each proposed marketing action will go through a period of testing, to analyse the outcome from each activity. Testing is an important stage before starting a full fleged marketing campaign. Up-Selling Process to Homepack Customers (Upselling is a strategy to sell a more expensive version of a product that the customer already has (or is buying), or to add extra features or add-ons to that product.) Social Media Influencers/ Messages E-mails Customer Life Cycle Every new Homepack customer (TV and Fixed Line) gets a mobile phone subscription for FREE for the first 3 months. On- Site Marketing/ Google Ads/ Mass Mail/ Website Google Ads Upon purchase of a service they automatically apply for a Loyalty Card. Google Ads/ Messages On different Special Occasions clients receive messages with different small offers. Messages Marketing message is what grabs your prospects'/current clients' attention, tells them how you can solve their problem, why they should trust you, and why they should choose to do business with you over and above any and all other choices they might have. Low Cost; Easy to Automate; 98% open rate; Personal; and Instant. When to use Marketing Messages: Birthday; and Special Occasions (Christmas, Easter, Valentines and Study Months) All the different marketing channels and promotions aim to increase sales either by up-selling, cross-selling or else to attract new customers. Cards Birthdays are celebrated occasions for almost everyone. Mailing birthday cards from GO is a way to bond with your customers. Each birthday card can be customized with the individual's name and a small standard message. Along with the card a small voucher or discount code can be attached as a small gift, applicable for a month. The Customer Lifecycle describes key milestones that every customer goes through over the course of the relationship with a brand. Customers sign up, they make their first purchase, some turn into repeat buyers and some customers eventually stop purchasing altogether. Upon subscribing to a Homepack service the customer can be given a discount voucher that can be used for purchasing a new mobile phone (2 year contract applies). Social Media Posts and presence must be available all year round because it helps the company remain close to the customers especially via Facebook. Social Media Influencers Within this case study we will be looking mostly at Lifecycle marketing, which, as the name suggests, involves studying the whole customer journey in an integrated way, from first contact to customer relationship management rather than narrowly focusing on a given campaign, channel or metric. Instead of focusing on separate campaigns, you should use an 'always-on' approach to marketing where one looks at the customer's entire journey, across all devices and channels, and optimise your messaging to align with the various touch points along that journey. A current GO customer that has the Star Interactive TV which costs €10 monthly can move to the Silver Interactive Package for €15 monthly (from €22) upon subscribing to a mobile phone contract for 2 years. Google ads/ Social Media and E-mail campaigns will be present along different periods of the year, when introducing special products or else new campaigns. Social Media Each year on their Birthday they receive a Birthday Card with a small message and a discount or offer. GO Malta aims to build a customer lifecycle model that is spread over a long period of time, rather than reducing everything down to a simple conversion of each contact. The customer life cycle can be broken down as shown in the simple illustration provided below: The 500 sample customers presented currently use GO's home services which include Telephone, TV and Internet. At this stage the customers are aware of the service that GO offers in terms of Home, yet may possibly not know about services beyond what they have such as Mobile Phone services. Therefore, the team within GO must find different ways and channels to communicate the different services present. These channels can be: Messages; Loyalty Card; Social Media; Cards; Google Ads; and E-mails. Current customers of GO that encourage a friend to subscribe to a GO service get the same service FREE for a month. All this will go through a process of A/B Testing. Mass Mails Cross-Selling Process To Homepack Customers (Cross-selling, is a strategy to sell products that are different — but possibly related — to the
Transcript: Before Awareness Keyword Rankings - For Example: Wall Protection or Wall Panel or Hospital Wall Cover - Growth of targeted keywords Compare Among Search Engines - Google - Yahoo - Bing Traffic Quality - Organic Bounce Rates - Repeat Visitors - Pageviews Per Visit - Average Visit Duration Traffic Volume - # of visits come from organic search - Growth of organic traffic Conversion Rate - Contact Requests, Appointment Requests, Phone Calls, Video Watches - Distinguish between conversions rates from organic search and other sources Determine ROI Based on # of Visiting Customers After This, People Become AWARE After that, Customers get to KNOW our products. Known Sales Qualified Opportunity Won Lead-to-MQL Conversion Rate MQL-to-Opportunity Conversion Rate Opportunity-to-Customer Conversion Rate Search KPIs What we measure? 1. Track Reach- Impact • Connections, Followers, Likes, Views and Subscribes • Audience Growth Rate 2. Engagement - Interact • Clicks, Retweets, Mentions, Shares, Comments • Average Engagement Rates 3. Conversion – Act • Registration from content downloads • Online Lead Generation • Phone-in Leads 4. Return Visit Rate And One More Thing... E-commerce Search Investment (cost) Social Media KPIs Lead-to-Customer Conversion Rate What we measure? 1. Brand Specific Search - Construction Specialties, Acrovyn, Pedisystems 2. Mentions Per Period - How many times your brand is mentioned during a given time period (Twitter, Facebook, Blogs, News) 3. Brand Recognition - Conduct an informal straw poll on larger social networks, or a more structured survey of a broader audience through something like a market research firm Identifying Winning Marketing Assets UX KPIs Optimize the Stages of Your Sales Funnel 1. Measure Usability (Surveys, Structured Interviews, Heuristic Evaluation, Card Sorting, Data Analytics) - Success Rate (# of participants that successfully completed a task) - Time-on-task (The average amount of time it took for participants to complete a task) - # of Errors (The average number of times an error occurred, per participant, while performing a particular task) - Motion Failure Rate (Establish an ideal or “happy path” and compare participants actual results against it) -Satisfaction (simple three question post-task survey) 2. Measure Usefulness 3. Average length stay in website & Visit frequency 4. Onsite social media click (How many people become followers through our website) 5. Baseline the current experience 6. Measure the new experience Brand KPIs Trace each customer back to the source of their first visit to your website- e.g. paid programs, organic search, social media, or email marketing. Analyze metrics such as Visits per $ spent in each channel Leads per $ spent in each channel Visit-to-lead ratio per channel Lead-to-customer ratio per channel Awareness Identifying Winning Marketing Channels HubSpot Example Investment Advertising Cost Marketing Automation Marketing Qualified Sales Accepted Success / Failure rate of each platform (conversion rate, loss rate) SEO Vendors / Inbound Marketing Service Firms / Web Design Agency Cost of Service & Pricing Models from 600+ Agencies 1. Hourly SEO Costs Vary Across Countries, $76-$200/hour is Most Common 2. By-the-Project Pricing is Popular and Most Commonly $1,000-$7,500 3. Monthly Retainer Pricing Has the Widest Spread, the two most common are $251-$500/month (13.8%) and $2,501-$5,000/month (11.3%). Visitor-to-Lead Conversion Rate Investment (Cost) Social Media Marketing Service 1. Facebook and Twitter Management: $4,500 / month 2. Social Media Strategy: $3,000 - $15,000 / month Marketing Accepted That's Progress So Far Continual Analysis of Key Metrics at each stage of the funnel Customer Life Cycle 1. Create a list of all the activities a lead can generate before becoming a customer, such as requesting a sample of your product, visiting certain pages of your website, or downloading certain pieces of content. 2. Look for items with the highest close rates. Close rates of leads that requests a sample = leads ask for a sample and become customers/ all leads ask for a sample 3. Find out the highest close rates.
Transcript: Customer Life Cycle NOW Strengths Weaknesses Opportunities Threats Customer See's Advertisement CURRENT FINANCES CURRENT FINANCES 72% Q4 2016 79% 775 814 Q4 2017 Q4 2016 Q4 2017 6% 5% Sales Revenue WHY ARE WE THE BEST? WHY ARE WE THE BEST? Attends 2 hr Class (Preview) Purchases 3 day workshop Ticket ($197) - Includes guest Attends 3 day workshop (40% did not attend previews) 94% do not enroll into mastery Enrolls into Mastery * - Inside Admissions Follows up - Enrolls into Mastery, Jumpstart, or Starter Program (Self Study) Log into training center Complete Vision Exerices Join Facebook Community Schedule first coaching call Register Full Immersion Student Onboarding Student Onboarding Team calls to onboard Student * Student has 1st Coaching Call Student Attends Full Immersion Acceleration team calls to offer IQ and Premier LLC NCH Calls for Entity Structuring and Asset Protection Consultation P.I.C Specialist calls to design long term investment strategy Student Continues Curriculum, action plans, and coaching calls Marketing Systems Bootcamp Wholesaling Bootcamp Attends First Bootcamp Student attends first Bootcamp Summit * Rental Property Intensive Rehab Bootcamp Bootcamps Student continues to attend Bootcamp Summits * Student continues online learning, live learning, and coaching
Transcript: Product Oriented? or Market Oriented? Starting a Family? Lifetime CLC is made up of many shorter CLCs Essentially the CLC is a summary of the key stages of a customer's long term relationship with an organization Focus on the needs of your MARKET A warranty is purchased while the maintenance schedule is drawn up It might seem creepy, but it makes for good business 11-15 HSBC Live Cash Account Moving On To College or University? Obvious similarities to the Product Life Cycle Recent Graduate Loans! Trust Funds Retired? The decision is made and the customer sets up financing Eventually the car breaks down or dies and the cycle begins again Think about cars... CLC Defined 16-17 HSBC Right Track Account RRSPs Over the life of the car it is serviced repeatedly and parts are replaced GICs Within each car purchase there will be a CLC with customer touch points Student Loans! Health Insurance Bonds Entering the Workforce? Home Insurance Life Insurance Consumer contemplates the purchase of a car Car Insurance Seniors Accounts Banking Products Books a test drive with a local dealership Stocks Products are designed with markets in mind Buying Property? Researches and Reviews cars Pensions RESPs Saving For Retirement? Lines of Credit! This is therefore a marketing oriented approach rather than a product oriented approach. Mortgages? For Example You may have heard the term "Cradle To Grave" Introduce children to bank accounts when they want to save Mutual Funds Car Loans! Investing? Savings & Investment Accounts CUSTOMER LIFE CYCLE Start 'em young! That is to say, it looks at the range of products or services that customers will NEED throughout their lives T-Bills The CLC is focused on creation and delivery of lifetime value to the customer Can you come up with your own examples? Customer Life Cycle Management Embodies This Principle Reverse Mortgages
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