the retail evolution: aligning your digital...
TRANSCRIPT
T h e R e t a i l E v o l u t i o n : A l i g n i n g Yo u r D i g i t a l S t r a t e g y
Brian Sannicandro
Director of Client Services
Source: Advertising Week
30+ Years Ago Today
C h e a p e r P r i c e s
M o r e P r o d u c t O f f e r i n g s A S e a m l e s s S h o p p i n g
E x p e r i e n c e
E n g a g e m e n t I n T h e i r P r e f e r r e d C h a n n e l s
C o n v e n i e n c e
What Shoppers are Demanding
“ R e t a i l s u c c e s s i n 2 0 1 8 w i l l b e a b o u t h o w w e l l r e t a i l e r s a d a p t t o t h e c h a n g i n g m a r k e t a r o u n d t h e m
a n d t h e e v o l u t i o n o f t h e i r c u s t o m e r s ’ n e e d s . ”
– Rupa Ganatra
Founding Partner, Millennial 20/20
A c t i o n a b l e D a t a
D a t a C o l l e c t i o n
I N S T O R E
S O C I A L
E C O M M E R C E
L O Y A L T Y
W E B
D I R E C T M A I L E V E N T S
Factors Driving CMO Success
Knowing how to use customer data analytics
Marketer Spending
Expected increase in spending in the next 3-5 years
90% SocialMedia 127% Mobile 375% Marketing
Analytics
The Data Challenge
Top organizational capability gaps identified by marketing leaders
Marketing Innovation
Customer Focus
DigitalMarketing
OmnichannelExecution
MarketingAnalytics
1
CustomerDevelopment
and Management
2
3
4
5
6
For each capability listed, more than 10% of survey respondents ranked it as a top three gap out of nine capabilities
“Expectations are very different around personalization, but importantly, an authentic version of it. Not, ‘You abandoned your cart and we’re recognizing that.’ It will be genuinely recognizing who you are as a unique human. The only way to do this at scale is through embracing data science and what you can do through innovation.”
- Katrina Lake, CEO & Founder, Stitch Fix
M a r k e t i n g M a t u r i t y M o d e l
LEVEL 1
BASE EMAILEmail Only
Basic Acquisition
Limited or No Segmentation
No Personalization
LEVEL 2
PERSONALIZATIONAdvanced Segmentation
Intelligent Trigger & Abandonment Campaigns
Multi-Channel
LEVEL 3
ARTIFICIALINTELLIGENCE
Predictive Recommendations
Predictive Content
Propensity Models
Machine Learning
LEVEL 4
CRM ANALYTICS
Unification
Data Visualization
Advanced Analytics
Data Exploration
Advanced Modeling
Maturity Model
Marketers must optimize for customer experience
149,513 emails sent every minute
“I get too many emails”
269 billion emails sent daily
L e v e l i n g U p
LEVEL 1
BASE EMAILEmail Only
Basic Acquisition
Limited or No Segmentation
No Personalization
LEVEL 2
PERSONALIZATIONAdvanced Segmentation
Intelligent Trigger & Abandonment Campaigns
Multi-Channel
LEVEL 3
ARTIFICIALINTELLIGENCE
Predictive Recommendations
Predictive Content
Propensity Models
Machine Learning
LEVEL 4
CRMANALYTICS
Unification
Data Visualization
Advanced Analytics
Data Exploration
Advanced Modeling
Maturity Model Level 1
L E V E L 1 : B A S E E M A I L
Don’t Ignore the Basics!
Technology & Expertise
Acquisition
Broadcast Emails
Transactional Emails
Automation
Testing & Engagement
LEVEL 1
BASE EMAILEmail Only
Basic Acquisition
Limited or No Segmentation
No Personalization
Acquisition: Pop-Up
L E V E L 1 : B A S E E M A I L
On-site acquisition generates
20%average annual list growth
Acquisition: Sweepstakes
L E V E L 1 : B A S E E M A I L
Broadcast Message
L E V E L 1 : B A S E E M A I L
Broadcast Messages generate
50-70%of email channel revenue
L E V E L 1 : B A S E E M A I L
Transactional Email
Welcome Series
L E V E L 1 : B A S E E M A I L
Always Be Learning: Testing is Critical to Your Success
L E V E L 1 : E N G A G E M E N T & T E S T I N G
LEVEL 1
BASE EMAILEmail Only
Basic Acquisition
Limited or No Segmentation
No Personalization
LEVEL 2
PERSONALIZATIONAdvanced Segmentation
Intelligent Trigger & Abandonment Campaigns
Multi-Channel
LEVEL 3
ARTIFICIALINTELLIGENCE
Predictive Recommendations
Predictive Content
Propensity Models
Machine Learning
LEVEL 4
CRMANALYTICS
Unification
Data Visualization
Advanced Analytics
Data Exploration
Advanced Modeling
Maturity Model Level 1
LEVEL 1
BASE EMAILEmail Only
Basic Acquisition
Limited or No Segmentation
No Personalization
LEVEL 2
PERSONALIZATIONAdvanced Segmentation
Intelligent Trigger & Abandonment Campaigns
Multi-Channel
LEVEL 3
ARTIFICIALINTELLIGENCE
Predictive Recommendations
Predictive Content
Propensity Models
Machine Learning
LEVEL 4
CRMANALYTICS
Unification
Data Visualization
Advanced Analytics
Data Exploration
Advanced Modeling
Maturity Model Level 2 & 3: Coming Up Next
Resources
• Cross-Channel Orchestration with Listrak• Tips for Cross-Channel Email and Mobile Acquisition• Email Marketing with Listrak• Welcome Series Research Study• Omnichannel Retail and Future of Stores with Internet Retailer• Baking Brand Awareness into Multi-Channel Communications