Multichannel Marketing:
The New Black
Multichannel Marketing:The New Black
Offline
Mobile
EmailSocial
Web
Acquire
EngageGrow
Retain
• People search before they buy
• People want buying options• Your best customers are
multichannel• Multichannel marketing
delivers better results:– Improved retention– Increase revenue per
purchase– Increase in products sold per
customer
Why Multichannel Marketing?
First,A bit about what’s happening in the
multichannel world.
How Big is Multichannel Marketing?
The New Marketing Mix
Source: SAS 2011
Budget Distribution is Changing
Source: SAS 2011
Media Emphasis is Shifting
Source: SAS 2011
Skills Gap Still Remains in ‘New’ Media
Source: SAS 2011
Multichannel Competence Falls Short
Source: SAS 2011
Measurement is a Challenge
Source: SAS 2011
Reach(Awareness)
Engagement(Interest and
Desire)
Conversion(Action)
Buzz(Satisfaction)
Old Media
New Media
Social Media
40% 10% 1%
New AIDA Continuum
So, what was your last great multichannel
experience?
Was it Something You Bought?
Web Couponing Digital – iPhone App
Search Engine AdsBest Buy Express
Facebook - Ideagiftr
Event - NASCAR Twitter - Twelpforce
Or Someplace You Went?
Interactive WebsiteTwitter
YouTube Product Demonstrations
iPhone App
Interactive Billboard
Was it a Bank?
Web Video
Checkbox Message
Direct Mail
Statement Insert
ATM Screen
Was it Even Product Marketing?
It’s About YOU!What’s Consistent With The
Best Multichannel Experiences?
It’s About YOU!You,
The Customer
Most of what we know about the consumer is driven by data:
Source: SAS 2011
“It ain’t like it used to be…”
New Channels Redefine How We Look at Data
Are you listening?
Tools: Track, Trend, Test . . . Do it again
“Your biggest marketing channel is
your customers.”
Who they areWhat are their needs
Who do they influenceWhat makes them happy
Magazines, SMS, Social Media
Face-to-Face, Call Centers, online
Websites, Radio Television, Radio
Face-to-Face, NO MAIL!
Mail, Social Media
Connect the Tangible and Emotional
Know Your Target . . . And Who Influences Them
So What Can You Do With This Insight?
The Power of Listening and Observing
Louis Vuitton(Integrated Digital Media)
Louis Vuitton(Integrated Digital Media)
Chase Freedom (Social Media)
Chase understands the importance of retention, not just acquisition. They are teasing fans of things to come (884 likes on this post alone).
FI Multichannel Integration
• There’s more to it than most think
• Focus on the basics• Leverage the
opportunities• It’s what you DON’T
see that can hurt you
Campaign Development
• Develop a communications strategy that is steeped into the lives and experience of those you want to reach.
Who is the Target Audience?
But Don’t Get Fooled by ‘Gut Instinct’
Stick to “One Thing”
Aggregate and Build…
but be wary of “Paralysis by Analysis”
• There are no magic silver bullets
• Continue to test combinations over time
• Insight, Interaction, Improve
Test and Learn
Source: SAS, 2010
Total Email Messages Sent ABT CBT NBAZ NSB VBC ZFNB TOTAL % Change
SEP 10
OCT 10
NOV 10
DEC 10
JAN 11 105,889 20 459 649 0 658,715 765,732 100.0%
FEB 11 5,706 5,332 835 344,435 0 446,913 803,221 4.9%
MAR 11 13,945 4,609 39,565 326,404 0 418,030 802,553 -0.1%
APR 11 17,370 7,084 440 338,238 993 728,094 1,092,219 36.1%
MAY 11 43,849 3,325 970 240,877 5,397 332,335 626,753 -42.6%
JUN 11 22,503 6,944 1,409 422,723 5,500 550,123 1,009,202 61.0%
JUL 11 9,725 6,850 79,883 352,364 14,902 631,427 1,095,151 8.5%
AUG 11 13,386 3,304 42,062 517,223 3,153 526,345 1,105,473 0.9%
SEP 11 68,919 4,778 3,787 457,579 9,568 1,007,296 1,551,927 40.4%
13-M CHANGE 68,919 4,778 3,787 457,579 9,568 1,007,296 1,551,927 100.0%
SEP 10
OCT 10
NOV 10
DEC 10
JAN 11
FEB 11
MAR 11
APR 11
MAY 11
JUN 11
JUL 1
1
AUG 11
SEP 11
0
50000
100000
150000
200000
250000
300000
0.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%16.0%18.0%
Opened Email Messages TOTAL Industry Benchmark Open %
Industry Source: Forrester
Track and Analyze• Measure ROI to Develop Strategic Directions
APR 10
MAY 10
JUN 10
JUL 1
0
AUG 10
SEP 10
OCT 10
NOV 10
DEC 10
JAN 11
FEB 11
MAR 11
APR 110
2,000
4,000
6,000
8,000
10,000
12,000
14,000
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Social Media Awareness
Social Page Views Facebook Fans Twitter Followers
APR 10
MAY 10
JUN 10
JUL 1
0
AUG 10
SEP 10
OCT 10
NOV 10
DEC 10
JAN 11
FEB 11
MAR 11
APR 110
50
100
150
200
250
300
350
0
10
20
30
40
50
60
70
80
Social Media Engagement
Interactions Admin Posts
• Measure Engagement to Develop Strategies to Better Interact with Consumers
Stay Focused. Don’t Chase the Shiny
Object
Where We’ve Been
Multi-Touch Program Overview• Integrate both e-mail and offline direct messaging to our
clients• Goal: Increase share of wallet by focusing on the client’s next
most likely product– Once successful (acquisition of a new product), the
program will repeat itself with a systematic up-sell/cross-sell strategy
• The Multi-Touch campaign drove impressive lifts over the non-mailed control group in terms of both account response rate (130%) and average balance (241%).
• About 84% of new accounts and 95% of balance dollars were in deposit-related product lines.
• Onboarding program has reduced attrition by approximately 5%.
• Increase in traffic to PURLs.
Key Program Results
Where We’re Going
• Maintain your brand throughout ALL executions• Live the journey from your customer’s perspective• Don’t forget ‘old’ media• Balance mix – Be great in 1 channel, good in many• Leverage the benefits of each channel• Do it better, or differently, preferably both• Test – Measure - Test
7 Best Multichannel Practices
