Turning Execution Into Impact - Five Mistakes You Can Prevent

Turning Execution Into Impact
Five Mistakes You Can Prevent
Presented by Peter Vandre, SVP, Digital Analytics Practice Leader at Merkle, Inc.
Kristin Mollerus, VP Digital Marketing, Citizens Bank

Five Mistakes You Can
Prevent
1. Outdated measurement
2. Focusing on the wrong stuff
3. Wrong team with wrong incentives
4. Learning too slowly
5. Failure to keep investing
Watch this presentation in Merkle’s Performance
Marketing for Financial Services video series.

1) Failure to Update the
Measurement Approach

1) Failure to Update the
Measurement Approach
Symptoms
• All the non-cross-channel programs look the best
• Digital marketing programs are all lower funnel
• Mobile and paid social “don’t work”
• Be patient yet pragmatic with cross-device & mobile measurement
• Don’t forget to measure offline impact from digital programs
• You may need new KPIs to measure mid to upper funnel
• You need a measurement roadmap

2) Focusing on the wrong
stuff
• Keep focus after the glitz of the big launch
• Focus on scaling what works
• It is your job to make it work
Symptoms
• Lots of testing and pilots but % of budget spent in
addressable digital is relatively flat
• Perpetually in beta

3) Wrong Team with the
Wrong Incentives

3) Wrong Team with the
Wrong Incentives
• Everything is “harder than it should be”
• Still optimizing toward old metrics
• Alignment to vision but not execution plan
• Right metrics only matter if people care about them
• You may need a different funding model
• Detractors take up a disproportionate amount of time
• It is everyone’s responsibility to evolve
Symptoms

4) Learning Too Slowly Watch this presentation in Merkle’s Performance

• Takes a long time to get internal alignment to test something new
• Constant analysis before decisions are made
• Investments that are not used
• Beware of perfection
• Don’t launch a program without a solid learning agenda
• If you aren’t failing, you aren’t learning fast enough
Symptoms
4) Learning Too Slowly

5) Failure to Keep Investing
Just set it and
forget it!
• Analytics team is spending most of their time tracking down
data issues
• Database or marts keep “breaking”
• Incremental solution updates take forever
• Budget for ongoing improvement
• Ensure properly resourced to keep up with change
Symptoms

Summary
Fix measurement issues
Track progress toward scaling addressable marketing
Don’t wait to address team or incentive issues
Develop a culture of learning
Keep investing

Does your org have any
of these symptoms?
Problem Symptoms
Need to update measurement
approach
• All the non-cross-channel programs look the best
• Digital marketing programs are all lower funnel
• Mobile and paid social “don’t work”
Focusing on the wrong stuff • Lots of testing and pilots but % of budget spent in
addressable digital is relatively flat
• Perpetually in beta
Wrong team with wrong incentives • Everything is “harder than it should be”
• Still optimizing toward old metrics
• Alignment to vision but not execution plan
Learning too slowly • Takes a long time to get internal alignment to test
something new
• Constant analysis before decisions are made
• Investments that are not used
Failure to keep investing • Analytics team is spending most of their time tracking
down data issues
• Database or marts keep “breaking”
• Incremental solution updates take forever

Citizens Case Study
Presented by Kristin Mollerus, VP, Digital Marketing, Citizens Bank

Our Vision- Simple,
Clear, Personal
Existing
Bank
Customer
Ideal
Prospect
Digital
Person
Age 25-34
Boston
Buying home
Checking
Savings
Credit
Card
Most Relevant
Message
Mortgage
Wealth
HELOC
LOB Focused Marketing Consumer Centric Marketing
Develop marketing programs that support our brand platform –
“Simple, Clear, Personal”

Citizens’ Customer-
Centric Roadmap
Fully Integrated
Customer-Centric
Experience
Foundational
Marketing Platform &
Insights Platform
DMP Solution
Phase
2
Phase
3
Goal
Phase
1
2015Jan 2015 2016
Connected Customer
Platform Full Channel
and Media Integration
Centralized and Optimized Strategic Targeting Framework
Centralized Customer View
Centralized Program Measurement and Reporting
Integrated Customer Experience Cross-Channel
Full Attribution and Optimization
Channel Optimization

Defining a DMP & Its
Application
Citizens invested in the implementation of a DMP to improve the efficacy and ROI of
digital initiatives.
The DMP serves as a warehouse for audience data and an analytics platform which
provides insights to make a user’s CFG digital interactions more relevant through:
Citizens selected RocketFuel as the technology platform with analytic, targeting &
execution capabilities and partnered with Merkle to manage the services
“Always-on”
optimizations
Prospect
vs..
Customer
1. Enhanced Audience Targeting Personalized Media & .Com

Aligning Technology
Capabilities with Business
Goals
Citizens Marketing Goals The DMP Enables
• Determine a path to optimize marketing
investment across online and offline channels
without losing short-term business momentum
• Scaling display as a percent of acquisition
budget, as ROI proves positive
• Increase the effectiveness of digital media
both for acquisition and cross-sell
• Using offline CRM data to deliver relevant
cross/up-sell offers and messaging
• Building lookalike models based on 1st /3rd
party data to enhance reach and targeting
efficiency
• Drive better economies of scale and lower
CPA of digital media investment
• A centralized platform focused on managing
audiences across agencies, campaigns and
lines of business and delivering optimized
experiences across media and channel
• Improve next-best decision recommendations
cross channel to improve customer experience
• Design and execution of individual/segment
level experiences (ex. cross-sell) across
media and channel based on 360-degree view
of the customer

Success to Date Stems from
Six Key Factors
Executive-level advocacy
A clear, prioritized roadmap
Socializing concepts with internal stakeholders
A process for collaborating across teams
Rigorous maintenance of data
Tolerance for testing new tactics & approaches

Organizational Challenges
With the support of a strong executive sponsor, we were able to overcome
hurdles like:
• Funding: Budgets set by Line of Business, and less frequently at the Enterprise
Level
• Security & Privacy Concerns
• Organizational Prioritization Across Internal Functions: Support needed
from IT, Compliance, Web Content Publishing and Analytics teams to establish
robust DMP caused reprioritizations
• Intersection with Existing Technical Workstreams: Projects in motion
intersected with the DMP’s capabilities and required re-evaluation
• Education & Expectation Setting: Not all internal or external partners
understood the capabilities of the DMP or were aligned on the baselines for
“returns”

Meeting with Internal
Stakeholders Drove
Alignment & Partnership
By educating internal stakeholders on the technology’s features, as well as the
business & marketing vision that drove it, Citizens kept focus on priorities that
were important to the organization
Stakeholders DMP Will Provide… To Enable…
Digital Marketing
• Collaboration & guidance on plans
• Access to marketing vendors/partners/agencies
• Consistent outbound & inbound digital marketing
communication, cross-product
Strategy & Analytics • Advisement on CRM data categorization
• Digital audience perspective on digital marketing
campaigns
Technology
Services
• Collaboration on site decisioning, tagging
requirements
• Reliable site personalization in support of media
programs
Web Account
Opening
• Collaboration on tagging requirements
• Insight to conversion process (incl. upgrades) &
consumer behavior
• Increased site conversion rates;
• Offsite execution (ex. remarketing, email win-
back)
Product Marketing • Product, marketplace & consumer context
• Efficient media campaigns, managed at an
audience level
Brand
• Clear Vision of marketing plan across upper
funnel and acquisition tactics; multiple agencies
• Audience insights
• Media modeling and optimization
Direct Marketing
• Collaboration on targeting, including data
sources & audiences
• Addressable, scalable, digital media campaigns
• Support of offline campaigns

Roadmap Prioritized One
Line of Business Before
Expanding
The approach focuses on each line of business- with the eventual goal
of including all lines of business to provide a customer centric view
Scope
Design
Implement
Launch
Optimize &
Expand
Determine the
business goals
and
technology
relevant to the
first line of
business
Partner with
Merkle to
create a
configuration
plan that
integrates with
existing
technology &
data
Collaborate
with IT
Organization,
Media &
Website
vendors to
deploy
necessary
technology
Begin data
collection-
following
rigorous QA-
to inform
analyses &
decisioning
Based on
audience analyses
& successful
implementation of
the first LOB,
expand features &
coverage to
additional lines of
business

Media Audience Buying
Proved Efficient &
Expansive
Goal: Build lookalike audience segments
that outperform campaign average cost
per application
Initial Result: By testing three segments
built based on similarity to online
applicants, we saw:
 Efficient Media: Cost Per Applications
27% more efficient vs. overall ODA
 More committed audiences: Users via the
DMP had an Application Complete Rate
that was 13% higher
 Unique Audience: Audiences selected
within the DMP were 80% net new reach
$-
$50
$100
$150
$200
$250
$300
$350
Campaign Total ODA Prospecting DMP Audiences
CostPerApplication
YTD CPA AUDIENCE PERFORMANCE
-
17%
-
27%

.Com Personalization via
DMP Demonstrated Positive
Results
Goal: Leverage CRM data
to improve customer
engagement by delivering a
new product message on
the HP while reducing the
message fatigue
Initial Result: By
personalizing the
homepage leaderboard for
audiences who were
customers or exposed to
media, there was an uptick
in CTR on the leaderboard
& in conversion rates vs.
BAU
July CTR
0.04%
0.25%
0.20%
HPTraffic
Student Lending
ODA Exposure OR
Checking/Deposit
Customer
STUDENT- Loan
Options
STUDENT- Savings
Options
All Other Visitors
Checking BAU
AAC
HP/.Com Audience: A/B Message

To Continue the Push
Toward “Simple, Clear,
Personal”…
Citizens has priorities for the remainder of 2015 & into 2016, including:
 Expanding personalization (incl. creative development)
 Increasing lines of business to achieve customer-centricity
 Extended syndication partners to include paid social and paid search
 Increasing Information Ingested
 Partnering with Internal marketing technology

Marketing for Financial Services video series
Get up to speed on how the industry's top-
performing financial services brands are
using addressable audience platforms to see
great results with Real World Success with
Performance Marketing. There are five
presentations, each taking an in-depth look
at how one brand celebrated huge wins:
• Video 1: Disruptive Marketing Trends in
Financial Services
• Video 2: Transforming to Compete in the
Age of the “Always Addressable
Customer”—From vision to reality
• Video 3: Go Your Own Way: The many
paths to addressable marketing
• Video 4: Turning Execution into Impact
• Video 5: Institutionalizing the Addressable
Advantage

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