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Implementing Trigger-based
   Marketing to Drive
   Customer Loyalty



                         Adam Ramshaw
                         Director
                         aramshaw@genroe.com
                         Genroe (Australia) Pty Ltd



                                                                                                          Contact Us
                                                                                                  T: +61 2 8821 6800
This information is for the exclusive use of the meeting attendees. Use of this information for      info@genroe.com
any other purpose must have written consent from Genroe.                                             www.genroe.com
© Genroe (Australia) Pty Ltd. All Rights Reserved                                                           @Genroe
Customer Loyalty Management




      INITIATE               LISTEN         UNDERSTAND                DESIGN             ACT

    • Assess current     • Understand       • Analyse the        • Plan the         • Implement
      approaches           what your          data to identify     required
      and capabilities     customers want     Customer             initiatives
                                              Loyalty Drivers      • Holistic; or
    • Engage the         • Measure how                             • Specific
      organisation         well are you     • Calculate the
                           delivering         Incremental        • Target the
                                              Value of             highest value
                                              Opportunities        changes to the
                                                                   business




                     We help our clients to generate more value from
                                their existing customers.
2
First some context
• What we’re talking about today
   – Trigger based marketing
   – Event driven marketing
   – Event based marketing



• Context
   – Pre-sale
      • Acquisition and Inbound marketing
          – Lead nurturing


   – Post-Sale
      • Customer management
          – Retention
          – Up-sell
          – Cross-sell
Today
    • Value Proposition
       – The value can you expect to drive within your organisation by
         implementing trigger-based marketing


    • Getting Started
       – The tools, processes, skills and approaches you need to be
         successful
       – The first steps you need to take to start making change in your
         business


    • Critical Success Factors
       – The factors that will drive your long term success


    • Roadblocks
       – The roadblocks (real and perceived) to overcome in order to be
         successful


4
Event based marketing is more effective




    EBM programs are typically 2 to 12
    times more effective than traditional
    direct marketing programs.




5
    Source: http://www.customerthink.com/article/event_based_marketing_banks_changes_behavior
How much more effective…
    • OCBC Bank
           – Customer acquisition
                  • EBM campaigns have achieved conversion rates of up to 45%.
           – Customer Satisfaction
                  • One service event with SMS support increased customer satisfaction by
                    20% over the control




    • FBTO (Dutch insurance company)
           – Website visitors that calculated premiums but did not purchase
             were outbound contacted and converted at 33%




    Source: http://www.1to1media.com/View.aspx?DocID=29738
6
    http://www.magiq.com/media/news/fbtoseemagiq.aspx
How much more effective…
    • Nab
            – Identified more than 3m sales opportunities that have led to about
              500,000 customer conversations: 16%


    • Large Regional US Bank
            – Within the first week of a recent EBM deployment
                   • Identified more than 3,000 trigger events with a better than 40%
                     success rate
                   • 5,000 "on-boarding" triggers, of which 1,500 generated incremental
                     business




    Source: http://www.americanbanker.com/btn_issues/19_6/-280136-1.html
7
    http://www.customerthink.com/article/event_based_marketing_banks_changes_behavior
How much more effective…
    • ING
            – Response Rates
                   • Average rates considerably higher than traditional direct marketing.
                   • For savings accounts
                       – Response rates are as high as 60%.
                       – €20 million p.a. earnings increase from direct marketing
                          effectiveness.
            – Lower direct marketing costs
                   • Reduction in direct marketing costs of 35% per year.


    • Onlineshoes.com
            – Launched trigger based abandoned cart emails at 3 day mark
                   •   400% increase in open rate
                   •   1,000% increase in click-throughs
                   •   1,200% increase in conversions
                   •   1,000% increase in revenue per email




    Source: “ING Delivers Personalized Product Offers Across Channels In Real Time”, Forrester Research Inc 2009
8
    http://www.retailonlineintegration.com/article/trigger-based-emails-help-onlineshoescom-grow-its-revenues-416386/1
How much more effective…




9
    Source: “Trigger Marketing: Timing is Everything”, Aberdeen Group, 2008
EBM delivers results
     • Increased conversion rate
     • Lower costs




     • But is only a part of an integrated approach
        – Lifecycle
        – EBM
        – Segmentation



10
Getting Started requires a change in approach
                                        • The old approach
                                           – “We have a campaign
       Campaign   Campaign   Campaign        now who can we send it
          2          3          4            to?”


                                        • The campaign a
       Campaign              Campaign
                                          customer receives,
          1                     5         depends on
                                           – Which campaign is being
                                             run
                                           – When it is run
                                           – How long since the last
                                             campaign contact
                                           – etc.


                                        • Customers are targeted
                                          with sales messages.

11
Event Based Marketing Approach
                                       • The approach is
                                          – “We react to the
                                            customer’s actions and
                                            contact them when their
                                            actions indicate we
                                            should.”


                                       • The campaign a customer
                                         receives depends on
                                          – What they have done
      Campaign
         1
                            Campaign
                               5
                                          – What products they hold
                                          – etc.


                                       • Customers are engaged in
                                         a conversation relevant to
      Campaign   Campaign   Campaign     what they have purchased
         2          3          4
                                         and how they are
                                         interacting with us.
12
Prerequisites
     • Minimum practical requirements
             – Ability to monitor customer behaviour
                    • Customer database
             – Ability to decide what to do
                    • Real time, rules based decisioning engine
             – Ability to execute in a timely fashion
                    • Campaign management software
                    • Email marketing automation software
                    • Ability to input to face to face / contact centre channel
             – Ability to report on what happened

     • Nice to haves
             –   Centralised customer database
             –   Data integration and hygiene software
             –   Cross-channel integration infrastructure
             –   Data mining software
             –   Predictive analysis expertise
             –   Centralised product/services database
13
     Source: Adapted from “Trigger Marketing: Timing is Everything”, Aberdeen Group, 2008
Developing your first campaigns


                          Identify
                          Triggers




                                           Create
             Optimise
                                         Responses




                                        Test /
              Operationalise
                                       Evaluate

14
Triggers
     • Brain storming
        – Easier
        – Place to start
        – Make a big list!
        – What treatments
          are possible?
        – Discard what
          cannot be actioned


     • Data analysis
        – Harder
        – Needs more skills
        – Longer term
          insights




15
Types of triggers
     • Customer initiated
        –   Purchases
        –   Deliveries
        –   Services contacts
        –   Account openings/closures
        –   Web hits

     • Reactionary
        – Things a customer does in reaction to what you have done
             • Clicking through to links in your email newsletter


     • Analytic
        – Non-obvious insights that you glean from the data
             • Scoring, statistical or other models
        – As simple as RFM or as complex as you like




16
Some really useful new approaches….
     For more information:

     “Calculating Retail
     Sales Forecasts,
     Customer Life Time
     Value, and other
     customer variables”

     http://bit.ly/oSg0Xy




17
     Source: “Probability Models for Customer-Base Analysis”, Peter Fader, Bruce Hardie, 2009
Create the response

     • What will be done?




18
It is not always clear what to do?
     • Customer deposits $21,564 in their transaction account?

        – Have they just been made redundant?

        – Sold their car?

        – Sold some shares?

        – Moved money from another bank?

        – Received an insurance payout?




19
Create the response

     • What will be done?

     • Can it be done?

     • How will it
       be done?
        – Inbound
        – Outbound


     • Who will
       do it?
        – How will they
          know to do it?

20
Evaluate Success
     • Set up measurement process early
        – Identify goals early
        – Create a dashboard


     • Point in Time Campaign Vs Event Campaign Measurement




21
Operationalise
     • Automate
        – The number of simultaneous
          campaigns will explode
        – Many more, much smaller
          campaigns
        – You will need to automate.




     • Customer Contact Framework
        – The complexity of customer contact
          will explode
        – You need to set yourself up for
          success.




22
The Customer Contact Framework prioritises and control
     customer contact
                                                 A comprehensive, set of
                                                 rules to define when and
                                                 how a customer can be
                                      Contact
                                                 contacted by the
                                       Rules     organisation.




                                      Customer
                                       Contact
                                     Framework
     A segment by                                                 A comprehensive
     segment, cell by                                             history of every
     cell, plan for the                                           attempted,
     campaign
                          Contact                   Contact       unsuccessful and
     contacts that a      Calendar                  History       successful contact
     customer will                                                that the
     receive over their                                           organization has
     lifecycle.                                                   with a customer.



23
Optimising
     • Only after you get the basics done

     • Question to answer:
        – If I have more than one treatment
          that I can execute for this customer
          which should I choose?




24
Getting started, in summary
     • Start simple

                                                 Identify
     • Use what you already have                 Triggers
       available
        – Data wise
        – Communication wise
                                                                Create
                                   Optimise
                                                              Responses

     • Prepare for long term
       requirements

                                    Operationalise      Test / Evaluate
     • Dedicate some marketing
       resources to making it
       happen




25
Critical Success Factors
     • Pick the right channel for the right
       trigger
             – Black box triggers are better
               implemented via automated systems



      • Inbound Channels
            Pre-think the actions



     • Speed / Timing
             – “The shelf-life of an EBM trigger is
               approximately three days, and
               success rates fall sharply during that
               period”
             – You must be able to react quickly.



26
     Source: “Event-Based Marketing Helps Banks Pinpoint and Benefit From Changes in Customer Behaviour”, Dan Smith, 2008
How important is speed? It can be very important!




27
     Source: The Lead Response Management Study, 2009
Critical Success Factors
     • Technology requirements
             – Ability to monitor customer behaviour
                    • Customer database
             – Ability to decide what to do
                    • Real-time, rules based, decisioning
                      engine
             – Ability to execute in a timely fashion
                    • Campaign management software
                    • Email marketing automation software
                    • Ability to input to face to face / contact
                      centre channel
             – Ability to report on what happened




28
     Source: Adapted from “Trigger Marketing: Timing is Everything”, Aberdeen Group, 2008
Measurement is critical to long term success




29
     Source: “How Interactive Marketers Should Rethink Traditional Approaches To Campaign Management”, Forrester, June 2011
What should you report on?




30
     Source: “Trigger Marketing: Timing is Everything”, Aberdeen Group, 2008
Summary of Critical Success Factors
     • Pick the right channel for the right
       trigger

      • Inbound Channels:
            Pre-think the actions

     • Speed / Timing

     • Have the right tools

     • Measure success




31
     Source: “Event-Based Marketing Helps Banks Pinpoint and Benefit From Changes in Customer Behaviour”, Dan Smith, 2008
Roadblocks (that aren’t really there)
     • “Determining what treatment to perform can
       be really hard!”
        – But once it’s done you can reap the benefits
          for the long term.



     • “Our data is not good enough”
        – It is never perfect but it is always good
          enough to do something



     • “How do we pull all of the data into one
       place so we can get a whole of customer
       view?”
        – This one is tough, no doubt, but start with
          what you have and build.



32
Roadblocks (that aren’t really there)
     • “I’m already implementing a new acquisition
       campaign every quarter/month/week and
       that’s really tough how am I going to build
       400!”
        – The incremental approach means that you
          just keep adding to the pile.
        – You need to focus on repeatable,
          automatable, higher volume, triggers.
        – Don’t try to “boil the ocean” – focus your
          efforts




33
Roadblocks (that aren’t really there)
     • “Won’t my customers be unhappy if they
       think we’re looking over their shoulder all
       the time?”
        – It all depends on how you deliver the
          treatment.



     • “We really can’t afford all of the new
       systems required”
       “We can’t get on the IT roadmap for 12
       months.”
        – Most systems are deliverable as Software as a
          Service so costs are operational and IT does
          not need to get as involved.
        – Think incremental




34
Today
     • Value Proposition
        – EBM programs are typically 2 to 12 times more effective than
          traditional direct marketing programs.


     • Getting Started
        –   Start simple
        –   Use what you already have available
        –   Prepare for long term requirements
        –   Dedicate some marketing resources to making it happen


     • Critical Success Factors
        – Report, report, report
        – Speed/Timing


     • Roadblocks
        – Are not nearly as large as they may seem

35
Implementing Trigger-based
Marketing to Drive
Customer Loyalty




Questions

(I will email a copy of this presentation to
everyone that registered.)
                                                       Contact Us
                                               T: +61 2 8821 6800
                                                  info@genroe.com
                                                  www.genroe.com
                                                         @Genroe

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Implementing trigger-based-marketing-to-drive-customer-loyalty

  • 1. Implementing Trigger-based Marketing to Drive Customer Loyalty Adam Ramshaw Director aramshaw@genroe.com Genroe (Australia) Pty Ltd Contact Us T: +61 2 8821 6800 This information is for the exclusive use of the meeting attendees. Use of this information for info@genroe.com any other purpose must have written consent from Genroe. www.genroe.com © Genroe (Australia) Pty Ltd. All Rights Reserved @Genroe
  • 2. Customer Loyalty Management INITIATE LISTEN UNDERSTAND DESIGN ACT • Assess current • Understand • Analyse the • Plan the • Implement approaches what your data to identify required and capabilities customers want Customer initiatives Loyalty Drivers • Holistic; or • Engage the • Measure how • Specific organisation well are you • Calculate the delivering Incremental • Target the Value of highest value Opportunities changes to the business We help our clients to generate more value from their existing customers. 2
  • 3. First some context • What we’re talking about today – Trigger based marketing – Event driven marketing – Event based marketing • Context – Pre-sale • Acquisition and Inbound marketing – Lead nurturing – Post-Sale • Customer management – Retention – Up-sell – Cross-sell
  • 4. Today • Value Proposition – The value can you expect to drive within your organisation by implementing trigger-based marketing • Getting Started – The tools, processes, skills and approaches you need to be successful – The first steps you need to take to start making change in your business • Critical Success Factors – The factors that will drive your long term success • Roadblocks – The roadblocks (real and perceived) to overcome in order to be successful 4
  • 5. Event based marketing is more effective EBM programs are typically 2 to 12 times more effective than traditional direct marketing programs. 5 Source: http://www.customerthink.com/article/event_based_marketing_banks_changes_behavior
  • 6. How much more effective… • OCBC Bank – Customer acquisition • EBM campaigns have achieved conversion rates of up to 45%. – Customer Satisfaction • One service event with SMS support increased customer satisfaction by 20% over the control • FBTO (Dutch insurance company) – Website visitors that calculated premiums but did not purchase were outbound contacted and converted at 33% Source: http://www.1to1media.com/View.aspx?DocID=29738 6 http://www.magiq.com/media/news/fbtoseemagiq.aspx
  • 7. How much more effective… • Nab – Identified more than 3m sales opportunities that have led to about 500,000 customer conversations: 16% • Large Regional US Bank – Within the first week of a recent EBM deployment • Identified more than 3,000 trigger events with a better than 40% success rate • 5,000 "on-boarding" triggers, of which 1,500 generated incremental business Source: http://www.americanbanker.com/btn_issues/19_6/-280136-1.html 7 http://www.customerthink.com/article/event_based_marketing_banks_changes_behavior
  • 8. How much more effective… • ING – Response Rates • Average rates considerably higher than traditional direct marketing. • For savings accounts – Response rates are as high as 60%. – €20 million p.a. earnings increase from direct marketing effectiveness. – Lower direct marketing costs • Reduction in direct marketing costs of 35% per year. • Onlineshoes.com – Launched trigger based abandoned cart emails at 3 day mark • 400% increase in open rate • 1,000% increase in click-throughs • 1,200% increase in conversions • 1,000% increase in revenue per email Source: “ING Delivers Personalized Product Offers Across Channels In Real Time”, Forrester Research Inc 2009 8 http://www.retailonlineintegration.com/article/trigger-based-emails-help-onlineshoescom-grow-its-revenues-416386/1
  • 9. How much more effective… 9 Source: “Trigger Marketing: Timing is Everything”, Aberdeen Group, 2008
  • 10. EBM delivers results • Increased conversion rate • Lower costs • But is only a part of an integrated approach – Lifecycle – EBM – Segmentation 10
  • 11. Getting Started requires a change in approach • The old approach – “We have a campaign Campaign Campaign Campaign now who can we send it 2 3 4 to?” • The campaign a Campaign Campaign customer receives, 1 5 depends on – Which campaign is being run – When it is run – How long since the last campaign contact – etc. • Customers are targeted with sales messages. 11
  • 12. Event Based Marketing Approach • The approach is – “We react to the customer’s actions and contact them when their actions indicate we should.” • The campaign a customer receives depends on – What they have done Campaign 1 Campaign 5 – What products they hold – etc. • Customers are engaged in a conversation relevant to Campaign Campaign Campaign what they have purchased 2 3 4 and how they are interacting with us. 12
  • 13. Prerequisites • Minimum practical requirements – Ability to monitor customer behaviour • Customer database – Ability to decide what to do • Real time, rules based decisioning engine – Ability to execute in a timely fashion • Campaign management software • Email marketing automation software • Ability to input to face to face / contact centre channel – Ability to report on what happened • Nice to haves – Centralised customer database – Data integration and hygiene software – Cross-channel integration infrastructure – Data mining software – Predictive analysis expertise – Centralised product/services database 13 Source: Adapted from “Trigger Marketing: Timing is Everything”, Aberdeen Group, 2008
  • 14. Developing your first campaigns Identify Triggers Create Optimise Responses Test / Operationalise Evaluate 14
  • 15. Triggers • Brain storming – Easier – Place to start – Make a big list! – What treatments are possible? – Discard what cannot be actioned • Data analysis – Harder – Needs more skills – Longer term insights 15
  • 16. Types of triggers • Customer initiated – Purchases – Deliveries – Services contacts – Account openings/closures – Web hits • Reactionary – Things a customer does in reaction to what you have done • Clicking through to links in your email newsletter • Analytic – Non-obvious insights that you glean from the data • Scoring, statistical or other models – As simple as RFM or as complex as you like 16
  • 17. Some really useful new approaches…. For more information: “Calculating Retail Sales Forecasts, Customer Life Time Value, and other customer variables” http://bit.ly/oSg0Xy 17 Source: “Probability Models for Customer-Base Analysis”, Peter Fader, Bruce Hardie, 2009
  • 18. Create the response • What will be done? 18
  • 19. It is not always clear what to do? • Customer deposits $21,564 in their transaction account? – Have they just been made redundant? – Sold their car? – Sold some shares? – Moved money from another bank? – Received an insurance payout? 19
  • 20. Create the response • What will be done? • Can it be done? • How will it be done? – Inbound – Outbound • Who will do it? – How will they know to do it? 20
  • 21. Evaluate Success • Set up measurement process early – Identify goals early – Create a dashboard • Point in Time Campaign Vs Event Campaign Measurement 21
  • 22. Operationalise • Automate – The number of simultaneous campaigns will explode – Many more, much smaller campaigns – You will need to automate. • Customer Contact Framework – The complexity of customer contact will explode – You need to set yourself up for success. 22
  • 23. The Customer Contact Framework prioritises and control customer contact A comprehensive, set of rules to define when and how a customer can be Contact contacted by the Rules organisation. Customer Contact Framework A segment by A comprehensive segment, cell by history of every cell, plan for the attempted, campaign Contact Contact unsuccessful and contacts that a Calendar History successful contact customer will that the receive over their organization has lifecycle. with a customer. 23
  • 24. Optimising • Only after you get the basics done • Question to answer: – If I have more than one treatment that I can execute for this customer which should I choose? 24
  • 25. Getting started, in summary • Start simple Identify • Use what you already have Triggers available – Data wise – Communication wise Create Optimise Responses • Prepare for long term requirements Operationalise Test / Evaluate • Dedicate some marketing resources to making it happen 25
  • 26. Critical Success Factors • Pick the right channel for the right trigger – Black box triggers are better implemented via automated systems • Inbound Channels Pre-think the actions • Speed / Timing – “The shelf-life of an EBM trigger is approximately three days, and success rates fall sharply during that period” – You must be able to react quickly. 26 Source: “Event-Based Marketing Helps Banks Pinpoint and Benefit From Changes in Customer Behaviour”, Dan Smith, 2008
  • 27. How important is speed? It can be very important! 27 Source: The Lead Response Management Study, 2009
  • 28. Critical Success Factors • Technology requirements – Ability to monitor customer behaviour • Customer database – Ability to decide what to do • Real-time, rules based, decisioning engine – Ability to execute in a timely fashion • Campaign management software • Email marketing automation software • Ability to input to face to face / contact centre channel – Ability to report on what happened 28 Source: Adapted from “Trigger Marketing: Timing is Everything”, Aberdeen Group, 2008
  • 29. Measurement is critical to long term success 29 Source: “How Interactive Marketers Should Rethink Traditional Approaches To Campaign Management”, Forrester, June 2011
  • 30. What should you report on? 30 Source: “Trigger Marketing: Timing is Everything”, Aberdeen Group, 2008
  • 31. Summary of Critical Success Factors • Pick the right channel for the right trigger • Inbound Channels: Pre-think the actions • Speed / Timing • Have the right tools • Measure success 31 Source: “Event-Based Marketing Helps Banks Pinpoint and Benefit From Changes in Customer Behaviour”, Dan Smith, 2008
  • 32. Roadblocks (that aren’t really there) • “Determining what treatment to perform can be really hard!” – But once it’s done you can reap the benefits for the long term. • “Our data is not good enough” – It is never perfect but it is always good enough to do something • “How do we pull all of the data into one place so we can get a whole of customer view?” – This one is tough, no doubt, but start with what you have and build. 32
  • 33. Roadblocks (that aren’t really there) • “I’m already implementing a new acquisition campaign every quarter/month/week and that’s really tough how am I going to build 400!” – The incremental approach means that you just keep adding to the pile. – You need to focus on repeatable, automatable, higher volume, triggers. – Don’t try to “boil the ocean” – focus your efforts 33
  • 34. Roadblocks (that aren’t really there) • “Won’t my customers be unhappy if they think we’re looking over their shoulder all the time?” – It all depends on how you deliver the treatment. • “We really can’t afford all of the new systems required” “We can’t get on the IT roadmap for 12 months.” – Most systems are deliverable as Software as a Service so costs are operational and IT does not need to get as involved. – Think incremental 34
  • 35. Today • Value Proposition – EBM programs are typically 2 to 12 times more effective than traditional direct marketing programs. • Getting Started – Start simple – Use what you already have available – Prepare for long term requirements – Dedicate some marketing resources to making it happen • Critical Success Factors – Report, report, report – Speed/Timing • Roadblocks – Are not nearly as large as they may seem 35
  • 36. Implementing Trigger-based Marketing to Drive Customer Loyalty Questions (I will email a copy of this presentation to everyone that registered.) Contact Us T: +61 2 8821 6800 info@genroe.com www.genroe.com @Genroe