Multichannel Marketing E-Book

Akin Arikan

• Herausgeber: John Wiley & Sons
• Kategorie: Wissenschaft und neue Technologien
• Sprache: Englisch

Seitenzahl: 539

Veröffentlichungsjahr: 2011

Beschreibung

No longer can the offline remain separate from the online. Integrated, customer-centric, cross-channel marketing campaigns persuade customers to act, provide greater ROI, and ultimately improve your organization's bottom line. This must-have guide synthesizes the successful methods and metrics that online, direct, and brand marketers have employed for years so that you can develop, implement, and measure successful cross-channel campaigns. Multichannel marketing expert Akin Arikan takes you from customer acquisition to customer relationship management with strategic advice, effective case studies, and proven metrics.

Leseprobe

Table of Contents

Cover

Advance Praise

Title Page

Credits

Copyright

Publisher's Note

Dedication

Acknowledgments

About the Author

Foreword

Introduction

Who Should Read This Book

What Is Covered in This Book

About the Screenshots

How to Contact the Author

Part I: Building Blocks for Multichannel Metrics

Chapter 1: With Great Opportunity Come Great Challenges

Multichannel, Schmultichannel!

Just What Kind of Trouble Are Marketers In?

Chicken Soup for the Troubled Marketer

The Missing Puzzle Piece, Multichannel Metrics

Chapter 2: The Web Analyst Tackles Multichannel Metrics Online

A Day Without a Web Analyst?

Web Analytics Primer for Multichannel Marketers

Attribute Responses to the Right Online Marketing Efforts

Success Metrics for Online Marketing

Chapter 3: The Offline Marketer’s Bag of Tricks

Blame Evolution, Not Ignorance!

Different Starting Points Rocketed Marketers to Separate Orbits

Differences Between Online and Offline Marketing Are Shrinking

Chapter 4: The Direct Marketer Digs into Multichannel Analytics

The Direct Marketer’s Goal

Set a Strategic Communications Plan

Predict Individual Response and Value

Execute Campaigns

Measure and Attribute Responses

Success Metrics for Direct Marketing

Chapter 5: The Brand Marketer’s Take on Multichannel Analytics

The Brand Marketer’s Goals and Challenges

Analyze and Predict Advertising Opportunities

Measure

Success Metrics for Brand Advertising

Part II: Measurement and Metrics

Chapter 6: Measure Lift Between Online and Offline

Why Bother? I Am Busy Enough!

Measure Online Lift from Offline Activity

Measure Offline Lift from Online Activity

Success Metrics for Lift Between Online and Offline Channels

Chapter 7: Measure 1:1 Interactions Between Online and Offline

Why Bother with the One-to-One Level?

Measure 1:1 Online Interactions Following Offline Activity

Measure 1:1 Offline Interactions Following Online Activity

Create a Multichannel Marketing Customer Profile

Chapter 8: Measure Multi-Touch Conversions

Put It into Perspective!

Study It!

Rule It!

Conclusions

Part III: Multichannel Marketing Methods

Chapter 9: Attract and Acquire

Sense Demand

Allocate Advertising Dollars

Integrate Multichannel Acquisition Campaigns

Chapter 10: Engage and Convert

Funnel Reporting

Remarketing

Cross-Sales Offers

Chapter 11: Grow Lifetime Value

Why Focus on Lifetime Value?

On-Boarding New Customers

Right-Channeling Customers

Automating Customer Relevancy

Attrition Risk Detection

Save and Win-Back

Over to You Now

Index

Advance Praise for Multichannel Marketing

If the past decade has been marked by widespread adoption of online marketing channels, the future must surely witness better integration of online and offline interactions. Customers want complete flexibility to use the channels that suit them best. Multichannel Marketing provides excellent down-to-earth insights on how to move from theory to practice, enabling customer-centric engagement while delivering a solid marketing ROI.

—Bob Thompson, Founder and CEO, CustomerThink Corp.

In your pursuit to measure and manage the TRUE impact of marketing, you must read Multichannel Marketing and put its good advice to practice. Akin Arikan provides excellent insight into the terminology, measurement techniques, and best practices necessary to get online and offline marketing managers aligned and working collaboratively toward improving marketing profitability.

—Jim Lenskold, President of Lenskold Group and author of Marketing ROI

With multichannel marketing emerging as the next big challenge for today’s enterprise, Multichannel Marketing: Metrics and Methods for On and Offline Success provides the in-depth knowledge needed for building a successful multichannel marketing program. Akin’s straightforward approach to a complex topic will bring many actionable insights to the student of multichannel marketing.

—Josh Manion, CEO, web analytics consultancy Stratigent

“Integrated marketing” has become a buzz phrase that marketers set as an ideal but struggle to act upon beyond a single campaign with multiple components. This book seeks to change that by introducing marketers from disparate disciplines to one another, making a clear and compelling case around why it makes sense for them to pool their efforts, and providing realistic approaches and practical tools to help them get beyond campaign and channel-centric approaches and move towards multichannel and customer-centric approaches. Way to go, Akin!

—Elana Anderson, Marketing Strategy Consultant, NxtERA Marketing

If you operate your company online (web, e-mail, etc.), you are multichannel. If your company has both on- and off-line touchpoints (store, website, catalog, call center, etc.), you are a multichannel company. If you are a multichannel company, you need to read this book. Whether you are just starting to create and analyze multichannel metrics, or have been doing it for years, this book codifies best practices in multichannel analytics.

—Jack Aaronson, Multichannel Marketing Expert and CEO of The Aaronson Group

As my good friend David Hughes says, we live in a “nonline” world—move over offline and online!! There is little you do with your offline efforts that won’t impact your online presence—vice versa, anything you do online will have an offline impact. We have all struggled to measure the holistic impact of our marketing efforts in this nonline world. But we are lucky to have someone of Akin’s intellect and experience to show us how. This book will erase a lot of your headaches!

—Avinash Kaushik, author of Web Analytics: An Hour A Day and the Occam’s Razor blog

Acquisitions Editor: Willem Knibbe

Development Editor: Pete Gaughan

Production Editor: Elizabeth Ginns Britten

Copy Editor: Kathy Grider Carlyle

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Cover Image: ©Tom Nulens/iStockphoto

Copyright © 2008 by Wiley Publishing, Inc., Indianapolis, Indiana

Published simultaneously in Canada

ISBN-13: 978-0-470-23959-9ISBN-10: 0-470-23959-X

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Library of Congress Cataloging-in-Publication Data: Arikan, Akin, 1969- Multichannel marketing : metrics and methods for on and offline success / Akin Arikan. — 1st ed. p. cm. ISBN 978-0-470-23959-9 (paper/website) 1. Internet marketing. 2. Multilevel marketing. I. Title. HF5415.1265.A75 2008 658.8’72—dc22 2008008356

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May the better marketer win

Acknowledgments

When you stand at the rim of the Grand Canyon in Arizona, it merely looks somewhat grand at first. Only after you have had a chance to make the pilgrimage down into the canyon and back out do you realize just how grand it really is. Well, it has been a similar experience working with the many editors and contributors to the book in your hands. I have come to appreciate marketers’ brilliance so much more in the process of learning from these folks. I wish I could build them a Mount Rushmore–sized “thank you!” for their mentoring, hand holding, and tutoring.

The first thank-you must go to our customers at Unica Corporation who have worked with us over the years and many of whom have shared their experiences for this book. Without them I would know nothing useful to report.

Judah Philips, director of Web Analytics at Reed Business, has been one of the technical editors for this project. Many in the industry know Judah as one of the nation’s sharpest web analysts. He also is an ardent blogger (judah.webanalyticsdemystified.com) and writes a column on the MediaPost. We expect many more great things to come from his pen in future years. For this book, he deserves the Oscar for attention to detail and for calling me back to the carpet many times over.

Entrepreneur Frank Faubert has been the second technical editor. He is best known for his decade-long work as co-founder of web analytics software company Sane Solutions. I received my Internet-marketing education while working at his company. Anyone who has worked with Frank cannot help but be amazed at the amount of productivity coming out of this one person. When Frank is in high gear he radiates so much energy that I am convinced the Earth’s gravitational field bends around him. For this book, Frank deserves the Golden Eagle for his precision edits during the technical-editing process.

Kevin Cavanaugh is a colleague at Unica and a veteran in the marketing industry. He has one leg firmly in the online space and another in the relationship marketing world. That is why I think of Kevin as the Mr. Multichannel—i.e., a prototype for multichannel marketers of the future. He has been my teacher and mentor in all things regarding direct and relationship marketing.

Pat LaPointe is the author of Marketing by the Dashboard Light and managing partner at MarketingNPV, a specialist firm focused on determining the financial returns from marketing investments for their clients. Their website MarketingNPV.com is an amazing resource for insights into marketing measurement. Thank you, Pat, specifically for your guidance on brand marketing measurement. The same thank-you also goes to two more of my colleagues at Unica, Jay Henderson and Bill Phelan. I am amazed at their multidisciplinary resourcefulness. Without their tutoring I would not even have known what I did not know.

Many more colleagues at Unica have volunteered their time to help during various stages of the project, especially Amartya Bhattacharjya, Andrew Hally, BJ Morgan, Brian Perry, Karen Hudgins, and Kerry Reilly. In fact I owe the entire idea for this book to the fertile grounds that I found working among the marketing enthusiasts who are my colleagues.

The Wiley book team deserves the greatest appreciation for turning what used to be a vague dream into a real book fit for human consumption. Most notably, thanks go to Willem Knibbe, Pete Gaughan, Liz Britten, and their many behind-the-scenes helpers.

Finally, I did not come here alone but was propelled by the support of my wife and family throughout the years. Thank you for bearing with the inevitable toll on family life during the six months of writing. I love you very much!

About the Author

Akin Arikan lives in San Francisco and is a fan of multichannel metrics and an evangelist for the use of intelligent software solutions for creating more successful businesses with more satisfied customers. Currently, Akin is senior segment manager for internet marketing at Unica, a provider of Enterprise Marketing Management software. He is responsible for ensuring customer satisfaction with Unica’s web analytics and internet marketing solutions.

Akin has been working with web analytics practitioners since 1999, serving clients across insurance, banking, retail, telecommunications, and travel industries. Akin also frequently writes magazine articles and is a highly praised speaker and panelist at such trade shows as Search Engine Strategies, eMetrics Marketing Optimization Summit, net.finance, and Web 2.0 Expo.

Previously, Akin developed analytical enterprise applications at business intelligence software vendor MicroStrategy. It was through the great people of MicroStrategy that Akin received his professional introduction to business intelligence and data warehousing practices. Akin has a degree in computer science and business administration from the University of Hamburg, Germany.

Foreword

By Don Peppers and Martha Rogers, Ph.D.

The single most important step in becoming a more customer-centric firm—with a stronger brand franchise, a more loyal and valuable customer base, more resilient and innovative policies, and better prospects for future growth—is to put yourself in the customer’s own shoes and try to experience doing business with your company the way the customer does. In other words, rather than seeing your business from the inside-out perspective of the products and services you sell, you need to see it from the outside-in perspective of the customers whose needs you’re trying to meet.

This axiomatic principle, that success requires taking the customer’s point of view, underlies nearly every best practice in modern marketing.

Customers are the source of all value for a business. No business can create shareholder value without a customer being involved, in one form or another. Customers are an indispensable element of the very definition of the word “business.” And leading-edge companies realize that customers are not as plentiful as they may once have been thought to be. When you lose a customer, or an opportunity to acquire a customer, you can’t simply replace that customer with the next one. There is no secondary market for customers. You can’t go to a bank, borrow some customers, and then pay them back with interest. Whatever value your business creates, you have to create it by using the customers and prospective customers available to you. So a smart company will try to create as much value as possible from each customer.

There are two ways that customers can create value for a business. The most obvious and immediately measurable way a customer creates value is by buying things in the current period. This is how sales and earnings are tabulated and reported.

But in addition, a customer can change his intent or likelihood to buy in the future, based on his current experience. This is a value-creating event that many firms simply overlook. Suppose, for example, that a customer calls your firm to complain, but for some reason the complaint isn’t resolved, and the customer hangs up the phone angry. In that event, the customer’s lifetime value will decline immediately, because the amount of future cash flow you predicted from that customer, prior to the call, must now be adjusted downward. You won’t see the cash effect of that decline in value until some time in the future, but the actual value destruction occurred with the customer’s phone call.

Initiatives designed to generate current-period earnings from a customer can often conflict with increasing the long-term business that the customer might also generate—including not only repeat purchases, but additional product lines, reduced service costs, and (more important than ever these days) referrals of other customers. Market too aggressively, in order to pump your current sales up and you may cannibalize future business, or—even worse—you may irritate your customers into not wanting to listen to any more of your solicitations. On the other hand, if you invest too heavily in providing great service today, in order to improve your customer’s loyalty (and lifetime value), how do you know whether you’ll be able to recover these costs fully with future business?

As a result, if you want your business to be successful over the long term, then you have to balance your marketing and sales efforts carefully, always seeking to “optimize” the mix of immediate sales and future value.

Because customers are scarce, the most critical productive resource any business has is its base of customers and prospects. The most direct way for a firm to maximize the overall value it creates for shareholders is to optimize the short-term and long-term value each customer creates for the business.

Of course, customers make their own decisions with respect to whether and how much to buy from you. The value any individual customer creates for your business will be determined by the overall experience the customer has with your brand, including all the various marketing messages received, offers considered, interactions undertaken, and purchases made. And if you stop and think about how each customer experiences your brand, along with all the marketing efforts you engage in to affect this experience, you’ll realize that the customer doesn’t categorize the various marketing channels you use into different brand experiences. Rather, each individual customer will categorize these messages and interactions into the same experience, the customer’s individual, overall experience of your brand.

In other words, it makes no difference to your customer whether you are an effective multichannel marketer or not. The customer—every customer—is still going to be a multichannel consumer.

For this reason, if you just consider what it takes to manage your business rationally, the case for coordinating, measuring, and managing all the various channels through which you touch and interact with an individual customer is as obvious as the nose on your CMO’s face. There simply is no more direct way for your business to generate profit and create shareholder value, than by managing each customer’s individual experience of your brand, across all the various channels of interaction.

But this isn’t a book about the what, when, or why of multichannel marketing. This is a how to book. And what a “how to” it is, too. There’s more “how to” in this book than you may realize you need. But if you work in any kind of modern marketing environment today, then within these pages are the answers to a great many of the questions you’ve probably asked yourself within just the last few weeks, as you’ve tried to allocate resources and make rational choices with respect to your own company’s marketing efforts:

How should you reconcile the costs and benefits of both a keyword search initiative and a comparison-shopping engine? How can you best use a website to capture responses to a print ad or a television commercial?How do you calculate the amount of spot television spending you should reallocate to fund your online initiatives? Or should you perhaps slim down your online budget to beef up your spot TV purchases?How can you determine which print, radio, or television promotion stimulated a customer to visit your website? And what’s the best method for determining where your online visitor is coming from, geographically? What tried and true methods of batch-processed direct marketing should (or should not) be applied to the interactive or e-mail marketing program you’re trying to launch? How can you use e-mail marketing, or any other channel, to boost the retention rate for visitors to your website?How should you ensure that your direct mail campaign and your online marketing initiative reinforce each other?

Face it: Multichannel marketing is steadily becoming more and more “multi.” Every day, it seems, someone invents a new way to communicate or interact with customers, whether it’s location-specific mobile phone messaging, or one-to-one messaging based on the flight reservations you just made, or variable point-of-sale offers, or viral messaging within social networks, or video monitors in bars, airports, gas stations, taxi cabs, and even restrooms.

The marketing task is getting steadily more complex. If you want to continue with a career in marketing, you’re just going to have to deal with it. And you can start by reading the rest of this book to learn how to deal with it.

Don Peppers and Martha Rogers founded Peppers & Rogers Group, and have written eight books on customer strategy that have collectively sold more than 1 million copies in 17 languages. Their most recent book is Rules to Break and Laws to Follow: How Your Business Can Beat the Crisis of Short-Termism (Wiley, 2008).

Introduction

My aim with Multichannel Marketing is to provide a missing key for unlocking the most anticipated marketing strategies of our days. Namely, the rise of “customer-centric marketing” (where the customer, not the product or marketing campaign, is the focus) places a premium on marketers having a deep understanding of their customers. Yet, just as companies were beginning to figure out how to turn “customer-centricity” into reality, the goal posts for achieving it have been moved further away. For crying out loud! As if it had been easy earlier! What is to blame for the new hurdle? It is the multichannel revolution—i.e., the constant birth of new avenues for interacting with companies and their marketing messages, especially online.

While many marketers are still stunned with the plethora of new channels that have sprung up in recent years, customers have long since integrated them into their relationships. Therefore, customer-centricity now asks marketers to understand customer relationships that span online and offline channels. However, weaving together disparate customer insights and marketing metrics from multiple channels is something that few marketers have tried and even fewer mastered. Worse than that, most marketing organizations continue to be split across online and offline channels as if their customers were still from the 1990s.

Without overcoming the chasm between multiple channels, marketers cannot understand true ROI of their marketing initiatives, will miss opportunities for improving their results, and will certainly fail to achieve customer-centricity. This book aims to provide the key for overcoming the chasm, namely practical methods for integrating marketing metrics and actions across online and offline channels.

Who Should Read This Book

The book is intended for marketers who are down in the trenches, responsible for creating marketing programs and assessing their outcomes. It is especially for marketers who have had enough of the artificial divide between online and offline channels and who seek practical advice for bringing together what belongs together.

For some of these marketers, the goal will simply be to better understand the outcomes of marketing programs by measuring results across all channels. For others, the goal will be to contribute to a better customer experience by basing marketing communications on a more complete understanding of customers. The marketers may be from any of the disciplines within marketing teams, namely:

Online marketers who realize that many of the visitors to their websites come there because of impulses from offline interactions with their companies. The same online marketers may also recognize that the fruits of their work will often only be harvested in the form of purchases that customers complete offline following their online research.Direct marketers who comprehend that the response to their campaigns increasingly often occurs online through the website. The success of direct marketing efforts directly hinges on these customers’ experiences while online. The same direct marketers will also appreciate that analytics on customers’ behavior on the website provides a rich lather of behavioral data for targeting marketing efforts.Brand marketers who see that their target audiences are spending an increasing amount of their time on online channels. For them, it would be a crime not to translate that observation into advertising campaigns that are integrated across online and offline channels. These brand marketers may also observe that advertising online is different from traditional advertising channels. Namely, the direct response nature and better measurability of the medium bears hope for refining advertising programs by drawing on online and direct marketing principles.

What You Will Learn

Readers coming from any of these corners within their marketing teams can extend their knowledge as to:

How online, direct, and brand marketers have been practicing multichannel marketing analytics each within their own disciplines.How the multiple multichannel methods from these three marketing disciplines can be amalgamated for an integrated view of marketing success and customer insights across on and offline channels.How integrated multichannel metrics and customer insights can then be employed for greater marketing success across on and offline channels.

The metric that will tell whether this book has been successful in achieving its purpose will be the number of earmarks that you may make for recipes that you wish to apply to your own marketing campaigns. If I can have the pleasure of meeting you one day, I very much hope to find your book full of page markers, flags, arrows, and with torn-out pages that you may have pinned up by the water cooler.

What Is Covered in This Book

Multichannel Marketing: Metrics and Methods for On and OfflineSuccess is organized in three parts to address exactly the three learning goals stated above.

Part I: Building Blocks for Multichannel Metrics will look over the shoulders of web analysts, direct marketers, and brand advertisers as they solve multichannel measurements and metrics problems within their own confines. But first, we will begin by exploring today’s marketing landscape to discuss the role and importance of multichannel metrics.

Chapter 1: With Great Opportunity Come Great Challenges will describe the opportunities for the marketer who can master multichannel marketing metrics and methods.

Chapter 2: The Web Analyst Tackles Multichannel Metrics Online provides an overview of web analytics methods for connecting the dots from online marketing channels of all kinds to the website and over multiple site sessions all the way to the sales events that ultimately ensue.

Chapter 3: The Offline Marketer’s Bag of Tricks compares the viewpoints of online and offline marketers to highlight how they differ from each other and why that may be.

Chapter 4: The Direct Marketer Digs into Multichannel Analytics studies the direct marketer’s approach to multichannel metrics that was originally developed for offline channels.

Chapter 5: The Brand Marketer’s Take on Multichannel Analytics reviews how traditional brand marketers have gone about measurement so that we can borrow suitable methods to apply across online and offline.

Part II: Measurement and Metrics is the heart of the book. It provides methods for fusing the multiple multichannel analytics methods from Part I into a bridge across channels. This is the section of the book where I hope to see the most page markers flagged by readers.

Chapter 6: Measure Lift Between Online and Offline provides recipes for measuring the outcomes of marketing initiatives across channels. The methods in this chapter are for measurement at the aggregate level which is in many cases sufficient for assessing marketing ROI (return on investment).

Chapter 7: Measure 1:1 Interactions Between Online and Offline takes measurement a level deeper down to the individual customer level. These are the multichannel methods that customer-centric marketers want to put in place for providing a better experience thanks to a more complete understanding of individuals.

Chapter 8: Measure Multi-Touch Conversions addresses what is probably the most difficult problem in marketing measurement, namely multi-touch conversions. This refers to methods for sharing the credit for customers’ business between multiple preceding marketing touch points.

Part III: Multichannel Marketing Methods reaps the rewards of the work that we have done in Part II. Namely, the three final chapters showcase how to conduct integrated marketing across online and offline channels with the help of the metrics that we have developed.

Chapter 9: Attract and Acquire explores several ways in which integrated marketing goes to work for raising awareness and acquiring new customers.

Chapter 10: Engage and Convert provides hints for upgrading many staple marketing methods, such as funnel reporting and cross-selling, to today’s multichannel world.

Chapter 11: Grow Lifetime Value completes our journey with recipes for extending typical customer-centric marketing endeavors across online and offline channels by drawing on every marketing discipline and metric in the book.

About the Screenshots

Throughout the book, screenshots have been used for illustration purposes. Following the precedence set by other recent books on analytics, the screenshots were created using the applications that were most-easily accessible and familiar to me. Therefore, unless marked otherwise, the screenshots are from Unica’s Affinium NetInsight, Affinium Campaign, and Affinium Model solutions. In no way, however, was this to suggest that similar reports could not be created with other, comparable solutions.

How to Contact the Author

I welcome feedback from you about this book or about books you’d like to see in the future. You can reach me by writing to [email protected] or [email protected]. For more information about multichannel metrics and to join ongoing discussions, please visit the accompanying website at www.MultiChannelMetrics.com.

Sybex strives to keep you supplied with the latest tools and information you need for your work. Please check their website at www.sybex.com, where we’ll post additional content and updates that supplement this book if the need arises. Enter multichannel in the Search box (or type the book’s ISBN: 9780470239599), and click Go to get to the book’s update page.

Part I

Building Blocks for Multichannel Metrics

Online, direct, and brand marketers have been facing multichannel measurement challenges and crafting solutions for years. Unfortunately, many of these solutions haven’t been shared across marketing disciplines. The online has remained separate from the offline.

Let the sharing begin now! In Part I, we will explore today’s marketing landscape and discuss the importance of multichannel metrics. Then we’ll look over the shoulders of web analysts, direct marketers, and brand advertisers as they solve multichannel measurements and metrics problems within their own confines to discover many building blocks for bridging marketing metrics across online and offline.

Chapter 1: With Great Opportunity Come Great Challenges

Chapter 2: The Web Analyst Tackles Multichannel Metrics Online

Chapter 3: The Offline Marketer’s Bag of Tricks

Chapter 4: The Direct Marketer Digs Into Multichannel Analytics

Chapter 5: The Brand Advertiser’s Take on Multichannel Analytics

Chapter 1

With Great Opportunity Come Great Challenges

Has marketing become more challenging today or is it easier than ever? Both! On the one hand, there is formidable competition for the attention of today’s over-messaged, out-of-time, and in-control buyers. On the other hand, new channels for connecting with buyers are springing up left and right. The marketer who is able to ride on the coattails of the multichannel revolution has the opportunity to connect with always-on consumers anywhere, any time. Doing so, however, requires a new set of know-how. Let’s picture the opportunities for the marketer who can acknowledge and overcome the challenges ahead.

Chapter Contents

Multichannel, Schmultichannel!Just What Kind of Trouble Are Marketers In?