Multichannel Marketing: The Key to Expanding Revenue
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This document discusses the importance of multi-channel marketing for businesses. It notes that mobile search and smartphone usage are driving tens of billions of inbound sales calls annually. Customers now expect and demand interactions across multiple channels. Effective multi-channel marketing requires tools for campaign management, advanced analytics, attribution across channels, and expertise in digital channels like web, email, mobile and video. By using a multi-channel approach, marketers can better meet customer expectations, increase spending from multi-channel customers, and improve conversion rates.
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Multichannel Marketing: The Key to Expanding Revenue
- 1. Mul%channel Marke%ng: The Key to Expanding Revenue Jason Spievak CEO Bruce Cook SVP Corporate Development Marc Porcelli GM
- 2. “By 2015, 80% of companies will use mobile marke%ng in North America.” -‐Kimberly Collins, Gartner Analyst
- 3. Inbound Calls are Sourced Digitally and Offline Most marke%ng tools are s%ll missing the most valuable part of mobile marke%ng: $300 Bd illion + online/offline a spend driving 30 Billion + inbound sales calls to Fortune 5000 adver%sers and SMBs $70 Billion online adver%sing market in 2013 …those tens of billions of inbound calls.
- 4. Mobile Search is Outpacing Desktop Search Mobile Search Is Outpacing Desktop Search Mobile Search Leads to Inbound Call Growth. 120 Mobile Search Queries 100 BILLIONS (US ONLY) 80 Desktop Search Queries 60 Mobile Calls 40 20 0 2011 2012 2013 2014 Sources: BIA/Kelsey, 2013; Google, 2012; CWA Cornell, 2008; Contact Babel Contact Center Report, 2012. 2015 2016 Mobile search and smart phone penetra%on are driving tens of billions of calls a year – and growing. No surprise then that more than 3% of the U.S. workforce works in a call center.
- 5. Inbound Phone Calls Are Significantly More Valuable Inbound Phone Than Clicks Calls Are Significantly More Valuable than Clicks $100+ Educa%on $5-$10 $50-100 Home services $3-$5 $50-75 Insurance $2-$4 $30-50 Financial Svcs $1-$3 Source: Google, 2012; Invoca, 2013 Call Click Calls convert at a much higher rate than clicks and at a higher average order value. 1-‐2% of clicks convert to customers. 30-‐50% of calls convert to customers.
- 6. “90% of consumers begin a task on one device then complete it on another.” –Todd Rowe, Managing Director of SMB Global Sales, Google
- 7. Purchase Immediacy is Key in Mul%channel Marke%ng 55% of consumers using mobile to research want to purchase within an hour. Call now during this panel session and you could win $100! Source: Google Mobile Path to Purchase, Nov. 2013
- 8. You need a mul%channel marke%ng strategy that incorporates both online and offline. But what does that mean?
- 9. Define Mul%channel Marke%ng… Interac%ng with customers or prospects using a combina%on of indirect and direct communica%on channels and enabling customers to take ac%on using the channel of their choice. Mul%channel marke%ng is all about consumer choice.
- 10. Why Does Today’s DR Need Mul%channel? • Mul%channel customers spend three to four %mes more than single-‐channel customers do (EConsultancy, 2013). Consumer Spending Mul%channel 3-‐4X more! Single Channel • Customers today have much more control over the buying process than marketers do -‐ more choices when it comes to how they want to get informa%on. • Consumers USE and EXPECT mul%channel marke%ng!
- 11. Why Does Today’s DR Need Mul%channel? 63% of purchases researched online convert offline.
- 12. What Consumers Want… Of consumers said they would no longer buy from an organiza%on that failed to take account of their preferences, purchasing history and other customer informaQon (Experian Marke:ng Services, 2013) 84% The average household now has 5.7 Internet-‐connected devices – more than double the number from last year. (NPD Group, 2013) = 5.7 As increasing numbers of consumers embrace mul%channel, they are now demanding that businesses and marketers do the same.
- 13. Marke%ng Challenges to Date ü Delivering a consistent and effec%ve marke%ng effort across all consumer paths. ü Being digital generalists, rather than channel specialists. ü Targeted messaging ü Arribu%on: knowing which channels, campaigns or sequence of touch points contributed to qualified conversions and sales. ExpecQng customers to change channel or device preferences is unrealisQc. Marketers must develop campaigns that span mul%ple channels fluidly, in a way that the customer finds meaningful, trustworthy and easy!
- 14. How it’s Done Tools, tools, tools A mul%channel marke%ng campaign & plavorm needs to have the following: • Campaign management (including capabili%es for segmenta%on and campaign execu%on) • Advanced analy%cs and campaign op%miza%on. • Response arribu%on, including the ability to analyze & op%mize based on data. • Digital marke%ng knowledge of newer channels, including the Web, email, mobile, video, etc. The Result? A consistent customer experience across all channels. Your customers experience your brand as a whole, whether their interac%ons with you are online, in-‐office, over the phone, or some combina%on of these. Yes, it is possible!
- 15. MundoMedia Success Story: Dental Pay Per Call: The DR ConnecQon between offline, online & mobile. Unique trackable phone numbers are placed on your marke%ng assets -‐ across all channels -‐ that drive qualified calls.
- 16. MundoMedia Success Story: Dental ü Increased distribu%on opportuni%es by allowing promo%ons across all online and offline media channels, including: mobile, search, display, email, TV, radio, and print. ü Adver%ser works with marke%ng partner to set up campaign and screen inbound calls for poten%al customers. The calls are recorded and tracked with a unique trackable phone number. ü Intel is gathered such as where a new pa%ent is calling from, the dura%on, media source and relevancy. Adver%ser only pays for valid calls that meet a certain criteria. Did you know that call conversions from a mobile device are 57% compared to 7% originaQng from a desktop?
- 17. Success Stories: Mul% Industry Best for service-‐based business such as: ü Legal ü Insurance ü Finance ü Op%cal ü Health & Wellness ü Home Improvement
- 18. Key Items for Launching Complementary Mul%channel Campaigns across Online, Offline & Mobile • Overall online and offline strategy & goals • The “marke%ng mix” that might work best • Ease and efficiency of mul%channel implementa%on • Scale, automa%on and arribu%on (data analysis) • Strong Partners with Proven Track Record
- 19. Case Study: Lending Tree 15 Years In Lending Space $1,000,000,000+ Advertising Dollars Spent 77% Brand Awareness 35,000,000 Consumers Served Highest Quality Leads Highest Conversion Rates
- 20. From Learning to Transac%on Advice & Articles Ask the Tree Mortgage Calculators Look Before You Lock Mortgage Checkup Mortgage Negotiator Multiple Offers
- 21. Meet Lenny…
- 22. Lenny says…
- 27. Email Campaigns
- 29. Social – Twirer @LT_Lenny -‐NEED -‐ A special promo Tweet from Larry's Twiaer account, with a message along these lines "Having a great Qme at the ERA Great Ideas Summit! Call me at 855-‐801-‐2856 before the end of this session to win!"
- 30. Social – YouTube
- 34. Email Campaigns Or call now: 855-801-2856 You could win $100!
- 35. Social – Twirer @LT_Lenny
- 37. Social – YouTube
- 38. Beyond Arribu%on Knowing where high quality calls are coming from is important – but it’s not enough. Calls cost you money – so make sure that you are only driving high intent, good quality callers to your call center.
- 39. ATTRIBUTION: Call tracking and analy%cs Knowing precisely where calls come from – which exact keyword, ad, channel, and content – and knowing who the buyer is in their purchase path. More than call tracking – marke%ng analy%cs.
- 40. One In Five Calls is High-‐Quality. Accidental call 8 Call with basic informa%on request 52 Invoca clients have similar paaern 19 High-‐quality sales call by a new lead 21 Short sales call Adver%sers don’t always know which ones.
- 41. INTELLIGENCE: Programma%c marke%ng automa%on Once a call starts heading into the funnel over Invoca, we derive and apply data, run data-‐dips, score the call, and determine op%mal rou%ng rules. Azer the call, we run re-‐targe%ng online based on the call disposi%on – true mul%-‐channel real-‐%me automa%on.
- 42. Master Mul%channel Marke%ng With a Complete Invoca is for marke%ng teams that want to: Marke%ng Solu%on. Drive quality inbound leads from calls, clicks and more. Close the loop between markeQng, revenue and your markeQng integraQons Tie offline conversions like phone calls to markeQng campaigns, partners, landing pages OpQmize spend and save resources Follow the customer journey through online, offline, and mobile Gain a new level of customer insight CONFIDENTIAL 42
- 43. Ques%ons? Go.Invoca.com/demo ques%ons@invoca.com 888-‐675-‐2007 Bruce Cook SVP Corporate Development bruce.cook@lendingtree.com 704.943.8263 www.mundomedia.com marc@mundomedia.com T: 416.342.5646 ex. 210