Marketing in a Multi Channel reality
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I suspect that many of you feel a bit uneasy when thinking about the new digital landscape so today I’d like to start out by looking at traditional marketing from a new perspective. In this presentation I debunk the traditional idea of a linear purchase path, and re-draw it to reflect modern consumers’ behaviors more accurately. Secondly I will inspire you to become better at measuring and quantifying the impact of your marketing efforts.
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Marketing in a Multi Channel reality
- 1. MARKETING IN A MULTICHANNEL REALITY Therese Reuterswärd - @TrulyTherese - www.trulytherese.se
- 2. In this presentation: • We’ll debunk the idea of a linear purchase path • You’ll learn how to measure impact of marketing efforts
- 3. We are facing a shift in perspective when it comes to marketing and advertising.
- 4. OMNICHANNEL = offering seamless experiences across all owned channels. MULTICHANNEL = adapting to a digital reality in which customers move across multiple devices, channels, screens and touchpoints during their path to purchase.
- 5. The AIDA model doesn't cut it anymore. Shoppers no longer follow a predictable journey from discovery to purchase.
- 6. Management Firms have been quick in defining new alternatives: • The purchase loop • The flight map • The spider web • The Intestinal model
- 7. What’s changed? • Many things act as triggers, not just marketing communication • The consumer selects a brand at the moment of purchase. • The point of purchase is not the end step • They prove the importance putting the right message in front of the right audience at the right time
- 9. There are 3 levels of Marketing Channel Attribution: Across Channels Across Multiple Devices Online to Store Understanding how customers move between Multiple Devices, to and from Online to Store is incredibly hard. (so I will skip that for now)
- 10. Across Online Channels Look for channels that are being undervalued: SEO, Niche Affiliate websites or Display banners with seemingly poor conversion rates.
- 11. Across Offline Channels • TV - in your call-to-action, display a voucher code for use online and only use it in this particular TV-spot • Radio - inform listeners that they need to say the word I love <X> when placing an order. • Outdoor advertising - Display a custom landing page URL or use NFC, or QR codes for measuring interactions. • Social Media - Construct a unique offer that can only be locked up by fans via a Facebook-app.
- 12. Multi-Channel Attribution 1. Search + Telephone: Add Click2call extensions in your Google ad 2. Print + TV: Is there a change in observation of print ads when TV ads are not running? 3. Facebook + Email: Cross-reference Followers with your customer database (custom audiences) 4. OOH + Mobile = Use coordinates of the billboard and add geo-data from your App or Adwords.
- 13. Multi-Channel attribution: Get started Track all marketing communication Optimize online channels first, then the online+offline media mix. Find silent periods Group your data Create a hypothesis based on findings Test that hypothesis using 1% of budget Be less wrong over time
- 14. Painting the whole picture Multi channel attribution across digital and traditional channels will provide new perspectives.
- 15. Therese Reuterswärd - @TrulyTherese - www.trulytherese.se THANK YOU
Editor's Notes
- Hello Bonnier! When Elisabeth asked me if I, although completely uneducated in the discipline, could talk about Marketing to you who have been working with Branding and Advertising for 15 years, my first thought was – FINALLY!
- Berätta vad jag ska berätta - 1 minut Firstly I plan to debunk the traditional idea of a linear purchase path, and re-draw it to reflect modern consumers’ behaviors more accurately. Secondly I will inspire you to become better at measuring and quantifying the impact of your marketing efforts. But let's start from the beginning.. I mean really going back in time.
- So Masaccio turned to mathematics, engineering and architecture, and learned that there are principles, models and formulas that can be used to simulate natural lighting, deeper dimensions and more perspectives. BAM! Perfect 3D. Now it is 2015 and we are facing a similar shift in perspective when it comes to marketing and advertising. The sooner we choose to accept this new reality, the sooner it can start affecting what we do - and ultimately the results that we get. Just a small distinction before we begin
- You've probably all heard the word Omnichannel - this is a mindset and a strategy aiming to unify communication, experience and offer seamlessly across owned channels, both offline and online. Omnichannel success for a company is defined by its Customers (i e Net Promoter Score) - how satisfied are you with your experience on Telephone, App, website, postorder services? Today, we will talk about Multichannel - a tactic used by companies to adapt to the new digital reality in which customers move across multiple devices, channels, screens and touchpoints during their path to purchase. Multichannel success can be achieved when the marketer has a complete understanding of the distribution of user value per touchpoint. So, how can this be done?
- Let’s take a look at the AIDA model. This concept of a linear purchase journey is in fact more than a 100 years old. (To avoid vonfusion, the AIDA model is the one to the left. The dogs are just adding cuteness.) This model doesn't cut it anymore because it paints a 2D-picture of the marketplace, of our customers and of their behavior. Due to the growing accessibility forums, reviews, social media, web and mobile information, shoppers no longer follow a predictable journey from discovery to purchase; Instead, they pass through purchase behaviors consisting of a number of “stops” and "mental states" along the way. A purchase can happen at any state-of-mind and at any location thanks to smartphones and tablets. And so the purchase funnel has never been as multi-dimensional as it is right now:
- Naturally, Management Firms across the world have been quick in defining new alternatives, I’d thought I’d mention a few: The purchase loop The flight map The spider web The Intestinal model ..and my favorite the Purchase Pretzel
- What's changed? What's new and what I like about all of these models is: Many things, not just marketing communication act as triggers, especially social conversations. The consumer selects a brand at the moment of purchase. The point of purchase is not the end step; as shoppers share and review their experiences, it can send them into other purchase loops by a renewed openness and interest in the brand and its related products. They prove the importance putting the right message in front of the right audience at the right time, considering the recipient's state of mind, what they have done before and what might do in the future.
- In the light of what I just described above – we have have to think in much broader ways about all these interaction points. We have to paint a 3D-picture in terms of how channels, media and devices work together. We also need to start measuring effect and impact of TV, Print, Digital and Social on our bottom line sales. The American clothing merchant is reputed to have said, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” He understood that, if you can’t measure it, you can’t manage it.
- There are 3 levels of Marketing Channel Attribution: Across Channels, Across Multiple Devices and Online to Store. Because I want you to leave this conference feeling hopeful and inspired - I will not even touch on Across Devices or Online to Store. Getting a holistic view of how customers move between smartphones, laptops and tablets, to and from web and retail stores is incredibly hard. And when I say incredibly hard, I mean almost impossible. And when I say almost impossible, I mean only attempt this after you've faced and fixed all the challenges that come with multi-channel marketing. A lot of your marketing comms probably happen online, so let’s start with that.
- The first question we need to ask is how to allocate credit to our Online marketing channels properly. How do Search engines, Banners, Affiliate websites and Social Media work together to influence, assist or trigger a purchase? Most Web Analytics offer this functionality. If you don't consider attribution you'll end up like Expedia where all the acquisition value was attributed to Email. Because Expedia sends millions of triggered and automated emails every day, these generated a lot of clicks, and so Email always appeared as delivering the most conversions. There will always be specific channels that you are undervaluing. SEO keywords are used for inspiration and information seeking, Niche Affiliate websites driving long-tail visitors and certain Display formats and placements with seemingly poor conversion rates. Tobias Mattsson will cover the uniquness of digital marketing in more detail.
- To quantify offline marketing, it's important to do it like-for-like. One way is to measure TV/PRINT/RADIO contribution to direct sales in a digital-like way. Here you can see an experiment where we measured Print ads using Telephone Nr and QR codes. Some of the smaller editions actually generated twice as many leads. SOME TIPS AND TRICKS Radio - inform listeners that they need to say the word I love coffee when placing an order. TV - in your call-to-action, display a voucher code for use online and only use it in this particular TV-spot Outdoor advertising - Display a custom landing page URL or use NFC, or QR codes for measuring interactions. Social Media - Construct a unique offer that can only be locked up by fans via a Facebook-app. When you have this data, you are ready to move to the next step which is Attribution across channels.
- These exercises aim to teach you how user value should be apropriately distributed across Online and Offline - is where it becomes tricky. Some of the anlaysis I’ve conducted include: Search + Telephone: Add Click2call extensions in your Google ads, and measure the added value generated by Search Engines on incoming calls. Print + TV: Hypothesis tests: Is there a change in observation of print ads when TV ads are running vs not running? You can to see which magazines manage to obtain a high level of brand-attention without the help of TV. Aftonbladet och expressen droppar mest när TV-reklamnärvaro upphör. Facebook + Email: Cross-reference facebook followers with your email database (custom audiences) or through integrating a Facebook app on your website. OOH + Mobile = Use coordinates of billboard+ geo-positioning data from App or Adwords data looking at brand searches from mobile phones in the same area. You will get far, but not all the way to a full overview of the impact of all your marketing channels. As you add more data points to these analysis, complexity increases dramatically.
- I’d like to give you some takeaways – and some personal advice Track all channels like-for-like, in terms of what is a lead, viewer, visitor, conversion, time-span, etc. Optimize for your online channel mix first, then move to optimizing your online+offline media-mix. Find silent period for nollmätning, which is a period when you have no offers, paid media or campaigns. Group your data to isolate important insights. Paid, Earned and Owned. Create a hypothesis based on above analysis for how to better allocate budget across marketing channels. Test that hypothesis using a percent of your budget and measure results. Feel confident that you’ll be less wrong over time. My personal advice - Try to not get stuck in the WHAT-fapjbefore you start making these changes. The biggest work is establishing HOW and enabling execution! To sum up -
- Just like the paintings in the 1500s, traditional marketing has reached the stage when it is time to replace them with new, more three-dimensional experiences. Multi channel attribution across digital and traditional channels can provide these new perspectives. Next time someone asks you about multi-channel analysis, I hope you’ll earn respect for knowing what it is, and that you can proceed to having a rewarding business discussion. Before I go..
- Hello Bonnier! When Elisabeth asked me if I, although completely uneducated in the discipline, could talk about Marketing to you who have been working with Branding and Advertising for 15 years, my first thought was – FINALLY!