Get What You Need: How to Build a #IRCE17 Winning …...(high bounce rates, cart abandonment) • Increased email unsubscribes • Significant custom development hours • How does

#IRCE17

ECOMMERCE TECHNOLOGY WORKSHOPJune 6, 2017

Get What You Need: How to Build a Winning Business Case and Budget for Technology & Innovation

#IRCE17Get What You Need: How to Build a Winning Business Case and Budget for Technology & Innovation

IRCE 2017 Tech Workshop 2

Brian ThompsonDirector of eCommerce

Marta DaltonDirector of eCommerce

#IRCE17What is Needed to Make a Case for Technology Investments?

30%

64%

6%

A Well‐Defined Problem that Management Recognizees

Proof that a Solution Will Address the Issue, Deliver Results

We Don't Create Structured Business Cases for Investments

Answers

Answers

Building a strong business case for technology investments is key to overcoming many of the obstacles retailers are facing.

48.2%

4IRCE 2017 Tech Workshop How to Build a Winning Business Case and Budget for Technology & Innovation

Companies are seeing the merge of these two once distinctly different marketing paths.

Fundamentals and Best Practices in Building a Business Case

IRCE 2017 Tech Workshop How to Build a Winning Business Case and Budget for Technology & Innovation 6

“COMPANIES ARE SPENDING MORE ON MARKETING TECHNOLOGY (MARTECH) THAN ON ADVERTISING”

source: chiefmartec.com


Digital Marketing Infrastructure

33%of marketing budgets go

to technology

28%of that isspent on

infrastructure

It’s not just about marketing programs any more….

Servers Networks Storage CloudHosting

source: gartner.com/digitalmarketing

IRCE 2017 Tech Workshop IRCE 2017 Tech Workshop How to Build a Winning Business Case and Budget for Technology & Innovation 8

Marketing is Not a Cost

Center but a Profit Center

• Not all leadership teams are convinced

• Accountable for every dollar spent

• Projected return on spend is required

…in comes the business case


A Marketing Technology business case can be confusing and hard to sell to executive leadership.


Goals to consider

• Make it thought‐provoking

• Keep it brief, share only what’s needed

• Don’t use jargon, assume they know nothing

• Clearly lay out vision

• Provide business value

Five Key Sections

Options2

Implementation3

Recommendations4

ROI5

The Problem1


…let’s review each one individually


…We’ll start with “The Problem”


1 The Problem

• Wasted time on tasks(compiling customer information)

• Website KPI’s under performing(high bounce rates, cart abandonment)

• Increased email unsubscribes

• Significant custom development hours

Source: https://www.snapapp.com/


…There has to be supported “Options”


1 The Problem Options2• Wasted time on tasks

(compiling customer information)




• What happens if we do nothing

• Are there multiple solutions

• Always provide a recommendation and justification



… “Implementation” can lead to many questions


1 The Problem 3 ImplementationOptions2• Wasted time on tasks





• How does it fit with my current stack

• Do we have the people to implement

• Onboarding / Training

• Long term support






…Recommendations


1 The Problem

4 Recommendation

3 ImplementationOptions2• Wasted time on tasks





• Describe what marketing could be with the new technology

• Talk about the efficiencies this could deliver

• Describe any long term cost savings

• Include all relevant details










…Finally, what is my “ROI”


1 The Problem

4 Recommendation

3 Implementation

5 ROI

Options2• Wasted time on tasks





• Describe what marketing could be with the new technology

• Talk about the efficiencies this could deliver

• Describe any long term cost savings

• Include all relevant details








• Time savings

• Lead Generation

• Site Conversion

• Most technology vendors have an ROI breakdown to share



…without a strong ROI, you’re doomed


So what has worked?

• Lay out a timeline of anticipated milestones

• Commit to your financial deliverables

• Setting an ROI projection

• Calculate the efficiencies

• Demonstrate multi‐channel metric improvement

Remember, it’s OK to “share metrics” across your marketing technology.

…Close out strong


Present the hard sell, next

steps and questions

• Remind them what they will get when approving this business case• Cost Savings• Revenue Generation• Increased MQLs

• Present clearly defined next steps• Let them know when you will get back to them

• Ask for buy in• Are we prepared to move forward?• It’s your idea, if you believe strongly, don’t be afraid to ask for the money

Average Order Value

Unique Visitors

Conversion RateCost to Serve

THE REVENUE RECIPE


BUILD YOUR CASE

Your own data Industry Data


EXAMPLE #1

Enhancement

Dynamic cross‐sell & up‐sell

Primary Metric

Average Order Value

Data Source

Industry ORA/B

Industry Data• Cross‐sell lift 0.2% to 1.5%• Up‐sell lift 2% to 4%

A/B• No cross‐sell/up‐sell• Manual cross‐sell/upsell


EXAMPLE #2

Enhancement

Creating a mobile app

Primary Metric

Conversion Rate

Data Source

Proof of Concept & Voice of the Customer

Proof of Concept• Responsive website• Include same features as full

site• Track most used features in GA

Voice of the Customer• Surveys via email• Use of mobile at location• Most needed features


EXAMPLE #3

Enhancement

Additional website languages

Primary Metric

Unique Visitors

Data Source

Web Analytics

Web Analytics• Create country users as advanced segment• Track negative metrics such as exit %, abandoned searches, non‐

converting products, zero results internal search, etc• Provide feedback boxes on site or post checkout


PRIORITIZING

MUST COULD NOPESHOULD


1. Business critical2. Next in line3. Pretty important4. Strong contender5. Proposed by the Boss’s son

TWO DATA SOURCES

A) STRATEGIC PRIORITIESB) REVENUE & EFFICIENCY


BUILDING YOUR BUDGET


BEST ROI TECHNOLOGIES


Marta Dalton

MyCoke.com

madalton@coca‐cola.com

Brian Thompson

Winston Brands

For additional questions:

[email protected]


Documents

Get What You Need: How to Build a #IRCE17 Winning …...(high bounce rates, cart abandonment) • Increased email unsubscribes • Significant custom development hours • How does