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Customer Retention Through Digital Media

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This presentation was delivered to a digital marketing class at Arizona State University on April 12, 2010. This particular class session focused on retention tactics through digital media.

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Customer Retention Through Digital Media

  1. 1. Customer Retention Through Digital Media Chris Sietsema Teach to Fish Digital
  2. 2.
  3. 3. The Marketing Process <ul><li>Attraction </li></ul><ul><li>Conversion </li></ul><ul><li>Retention </li></ul>
  4. 4. The Marketing Process
  5. 7. Ongoing Conversation Here’s More Info Come Back Welcome Purchase You Might Also Like
  6. 8. <ul><li>Acquiring new customers can cost five times more than satisfying and retaining current customers. </li></ul>5
  7. 9. <ul><li>A 2% increase in customer retention has the same effect on profits as cutting costs by 10% </li></ul>1/50
  8. 10. <ul><li>The average company loses 10% of its customers each year </li></ul>10%
  9. 11. <ul><li>The customer profitability rate tends to increase over the life of a retained customer </li></ul>$ $ $ $
  10. 14. Pushing & Pulling PUSH “ Need?” Promotion Advertising Sales Active Engagement PULL Demand Search Word of Mouth Public Relations High Visibility
  11. 15. Store & Organize Records
  12. 16. Tools & Processes <ul><li>Simple Lists & Fish Bowls </li></ul><ul><li>Contact Management </li></ul><ul><li>Customer Relationship Management (CRM) </li></ul><ul><li>Sales Force Automation (SFA) </li></ul>Place Customer Records Here
  13. 18. Anatomy of an Email From Name Subject Line Pre-Header Body Link Tracking Unsubscribe Physical Address Header
  14. 19. Using a Template
  15. 20. Using a Template
  16. 21. Using a Template
  17. 22. Using a Template
  18. 23. Deliverability <ul><li>CAN SPAM Clearly Defined </li></ul><ul><ul><li>Physical Address </li></ul></ul><ul><ul><li>Unsubscribe Option </li></ul></ul><ul><ul><li>No Deception </li></ul></ul><ul><ul><ul><li>Your From Name </li></ul></ul></ul><ul><ul><ul><li>No Funny Subject Lines </li></ul></ul></ul>
  19. 24. SPAM Filters <ul><ul><li>FREE! </li></ul></ul><ul><ul><li>Eliminate Debt </li></ul></ul><ul><ul><li>Satisfaction Guaranteed </li></ul></ul><ul><ul><li>Cash Bonus </li></ul></ul><ul><ul><li>Information You Requested </li></ul></ul><ul><ul><li>Meet Singles </li></ul></ul><ul><ul><li>Join Millions </li></ul></ul><ul><ul><li>While Supplies Last </li></ul></ul>
  20. 25. For Every Client, A Filter <ul><li>Top Email Clients in 2009 </li></ul>
  21. 26. Reasons People Opt Out <ul><li>No Relevance </li></ul><ul><li>Too Much from You </li></ul><ul><li>Too Much from Everybody </li></ul><ul><ul><li>Source: Marketing Sherpa Survey </li></ul></ul>
  22. 27. Email Malpractice <ul><li>Image-Based Email Messages </li></ul>
  23. 28. Email Malpractice <ul><li>Image-Based Email Messages </li></ul>
  24. 29. Email Malpractice <ul><li>Dead Images </li></ul>
  25. 30. If you cannot measure it, you cannot improve it. - Lord Kelvin
  26. 31. Testing Procedures <ul><li>Split Your List </li></ul>A B
  27. 33. Testing Procedures <ul><li>From Name </li></ul><ul><li>Subject Line </li></ul><ul><li>Content </li></ul><ul><ul><li>Headlines </li></ul></ul><ul><ul><li>Copy </li></ul></ul><ul><ul><li>Graphics </li></ul></ul><ul><li>Promotion </li></ul><ul><li>Layout </li></ul>
  28. 34. <ul><li>Multivariate Testing </li></ul>Testing Procedures Subject Line From Line Promotion
  29. 35. Testing Procedures Promotion 1 From Line 1 Subject Line 1 Promotion 2 From Line 2 Subject Line 1 Promotion 2 From Line 1 Subject Line 2 Promotion 1 From Line 2 Subject Line 2
  30. 36. Lifecycle Marketing
  31. 37. Lifecycle Marketing <ul><li>Short Series of Messages </li></ul><ul><li>Example: </li></ul><ul><ul><li>Thanks & Welcome </li></ul></ul><ul><ul><li>Features, Benefits, Case Studies, News </li></ul></ul><ul><ul><li>Strong Call to Action, Promotion </li></ul></ul><ul><li>Works Well for: Big Ticket Items </li></ul><ul><ul><li>Motor Vehicles, Real Estate, $ervices </li></ul></ul>
  32. 38. Lifecycle Marketing <ul><li>If This , Then That </li></ul><ul><li>Example: </li></ul><ul><ul><li>If Trial , Then Purchase </li></ul></ul><ul><ul><li>If Purchase , Then You Might Also Like </li></ul></ul><ul><ul><li>If Visit , Then Come Back </li></ul></ul><ul><ul><li>If Expire, Then Renew </li></ul></ul><ul><li>Works Well for: Ecommerce, Brick & Mortar, Subscriptions </li></ul>
  33. 39. Lifecycle Marketing <ul><li>Ongoing Provision of Value </li></ul><ul><li>Example: </li></ul><ul><ul><li>Here’s What Is New </li></ul></ul><ul><ul><li>Attend Our Event </li></ul></ul><ul><ul><li>Specials, Coupons, Promotions </li></ul></ul><ul><li>Works Well for: All Who Can Consistently Provide Value, Relevance </li></ul>
  34. 40. Measurement <ul><li>Delivery Rate </li></ul><ul><ul><li>How Many Made It? </li></ul></ul><ul><li>Open Rate </li></ul><ul><ul><li>How Many Were Opened? </li></ul></ul><ul><li>Click Rate </li></ul><ul><ul><li>How Many Clicked In Total? </li></ul></ul><ul><ul><li>As a % of Opens? </li></ul></ul><ul><li>Unsubscribe Rate </li></ul><ul><ul><li>How Many Opted Out </li></ul></ul>Click Revenue
  35. 41. Measurement <ul><li>Industry Averages </li></ul><ul><li>Delivery Rate – 94% </li></ul><ul><li>Open Rate – 22% </li></ul><ul><ul><li>24% for Consumer Products </li></ul></ul><ul><li>Click Rate – 6% </li></ul><ul><ul><li>7.5% for Consumer Products </li></ul></ul><ul><li>Unsubscribe Rate – 27% </li></ul>Source: Epsilon.com
  36. 43. Mobile Basics <ul><li>Keywords & Shortcodes </li></ul><ul><li>TEXT “WINNER” to 454545 </li></ul>
  37. 44. Campaign Types
  38. 45. Norm the Gnome Text NORM to 411247
  39. 46. Some Ground Rules <ul><li>Incorporate Into Customer Experience </li></ul><ul><li>Integrate with Other Programs/Systems </li></ul><ul><li>Provide Value Always </li></ul><ul><li>Give a Sense of Exclusivity </li></ul><ul><li>Respect Privacy </li></ul><ul><li>Measure </li></ul><ul><ul><ul><li>Overall & Current Subscribers </li></ul></ul></ul><ul><ul><ul><li>Coupon Redemption </li></ul></ul></ul><ul><ul><ul><li>Peaks & Valleys </li></ul></ul></ul>
  40. 48. Social Media Objectives
  41. 49. List = Fan Base
  42. 50. Invitations
  43. 51. Eliciting Feedback
  44. 52. Shopping & Coupons
  45. 53. Listening
  46. 55. Viral Viral is a thing that happens, not a thing that is.
  47. 56. List Segmentation <ul><li>Behavior, Personas, Interests </li></ul>Never Purchased Single Purchase Repeat Purchase Raving Fans
  48. 57. List Segmentation
  49. 58. Integration
  50. 59. <ul><li>Chris Sietsema </li></ul><ul><ul><li>[email_address] </li></ul></ul><ul><ul><li>480.389.5435 </li></ul></ul><ul><ul><li>Twitter: @sietsema </li></ul></ul><ul><ul><li>LinkedIn: http://linkedin.com/in/sietsema </li></ul></ul>Questions?
  51. 60. Slide-ography <ul><li>“ Come Back Soon” from Omar Omar on Flickr Creative Commons </li></ul><ul><li>Stats on Slides 8-11 from Leading on the Edge of Chaos , by Emmett C. Murphy and Mark A. Murphy </li></ul><ul><li>“ Cheers Boston 2005” from MECU on Flickr Creative Commons </li></ul><ul><li>“ File Cabinets” from redjar on Flickr Creative Commons </li></ul><ul><li>“ Yield Sign” from Eddie~S on Flickr Creative Commons </li></ul><ul><li>Top Email Clients Chart from Campaign Monitor </li></ul><ul><li>“ Tyrrhenian Sea and Solstice Sky ” from Danilo Pivato, NASA Astronomy Image of the Day </li></ul><ul><li>“ Measuring Tape Sphere” from Nick Sayers on Flickr Creative Commons </li></ul><ul><li>“ Smoke on the Water” from Marcin Chylinski on Flickr Creative Commons </li></ul>

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