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DIGITAL TRANSFORMATIONDRIVING CUSTOMER CENTRICITY IN MULTIFAMILY MARKETINGNAPA CA
- OSCAR WILDE
CUSTOMER CENTRICITYTRULY UNDERSTANDING YOUR CUSTOMERS
“Nowadays people know the
price of everything and the value of nothing.”
I ALWAYS WANTED TO BECOME A ROCKSTAR
INSTEAD I BECAME A MOLECULARBIOLOGIST
CHIEF DIGITALOFFICER?
WHAT IS THE ROLE OF
CHIEF DIGITAL & OMNI OFFICER?WHAT IS THE ROLE OF
ACQUISITION DIGITAL EXPERIENCE RETENTION
TECHNOLOGY
DATA SCIENCE
1. Scientific method2. Measurement 3. Multitouch
attribution 4. Customer centricity5. Mobile & video first 6. Automation/AI/ML
DIGITAL EXCELLENCE & CORE VALUES
DATA MATURATION CURVE
COLLECTING
THE RIGHT DATA
PREDICTIVE ANALYSIS
REPORTING &
INSIGHTS
HYPOTHESIS TESTING
TOP CHALLENGES FACING MARKETERS7 OF 8 ARE DATA OR TECHNOLOGY PROBLEMS
PROBLEM #9?
CHOICE
Chiefmartec.com handy infographic
ACQUISITION DIGITAL EXPERIENCE RETENTION
TECHNOLOGY
DATA SCIENCE
RETAIL IS UNDERGOING A
DIGITAL TRANSFORMATION
?
Migrating Online Strategy To Offline
CLIENTELING IS TRANSFORMING
STORE ASSOCIATES INTO
CUSTOMER SERVICE REPS
CONSUMER USER STATES
PROGRESSIVE PROFILINGFOR SEGMENTATION & CRM
UNKNOWN USER
CUSTOMER CENTRICITYUNDERSTANDING THE UNKNOWN USER VALUE
Unknown User
CUSTOMER CENTRICITYUNDERSTANDING THE UNKNOWN USER VALUE
CUSTOMER CENTRICITYUNDERSTANDING THE ANONYMOUS USER VALUE
ANONYMOUS USER
CUSTOMER CENTRICITYCONVERSION EVENTS / CONVERTING TO KNOWN USERS
CUSTOMER CENTRICITYUNDERSTANDING KNOWN USER VALUE
KNOWN USER
CUSTOMER CENTRICITYUNDERSTANDING KNOWN USER VALUE
USER LEVEL RECORDS
WHAT IS CUSTOMER CENTRICITY?
PETER FADER PROFESSOR OF MARKETING WHARTON
WHAT IS CUSTOMER CENTRICITY?
“Customer centricity is a strategy that aligns a company’s development
and delivery of its product and services with the current and future needs of a select set of customers in order to maximize their long-term
financial value to the firm.”
WHAT IS CUSTOMER CENTRICITY?RCV {REALIZED CUSTOMER VALUE} RLV {REMAINING LIFETIME VALUE}CLV {CUSTOMER LIFETIME VALUE} NPS {NET PROMOTER SCORE}
WHAT IS REALIZED CUSTOMER VALUE?
RCVREVENUE PROFIT MARGINx - =CUSTOMER
ACQUISITION COSTS
REALIZED CUSTOMER VALUE
THE DARLING OF SILICON BEACHCASE STUDY
10M MEMBERS
MILLIONS OF CUSTOMERS
2M+FACEBOOK
FOLLOWERS
THE DARLING OF SILICON BEACHCASE STUDY
-$10K USERS NEGATIVE
VALUE
WHAT IS CUSTOMER LIFETIME VALUE?
RETENTION RATEx TIME
DISCOUNTx CLV=RLV
STARBUCKSCLVCASE STUDY
ASSUMPTIONS INCLUDE: 21% MARGIN 20 YEAR LIFESPAN
STARBUCKSCUSTOMER CLV:
SOURCE – KISSMETRICS BLOG 2014
CUSTOMER LIFETIME VALUE
ASSUMPTIONS INCLUDE: 21% MARGIN 20 YEAR LIFESPAN
STARBUCKSCUSTOMER CLV:
SOURCE – KISSMETRICS BLOG 2014
CUSTOMER LIFETIME VALUE
$14K
DRIVING CUSTOMER LIFETIME VALUE
THE MULTICHANNEL JOURNEY
THE MULTICHANNEL JOURNEY
THE MULTICHANNEL JOURNEY
THE MULTICHANNEL JOURNEY
DIGITAL MEDIA GROWTH OPPORTUNITIES
1. Search (Paid and Organic)2. Social (Native and Paid)3. Email Automation4. Display (Programmatic and
Video)5. Local listings and reviews
MULTITOUCH ATTRIBUTION
VIDEO NETWORKS & LIVE STREAMING
• Programmatic display ads• Adroll/Google Display Network• Retargeting/Segmentation• Optimized to sales
• Native video• Content driven storytelling• Youtube presence (Ad based
and vlogger)
EMAIL MARKETING AUTOMATION
• Implement marketing automation lead generation & nurturing platform
IMPLEMENT A TEST AND LEARN APPROACH
• Institute a control based testing process
• A/B/C• Multivariate• Data drives the creative
• Segment audience based on behavior
• Serve customized experiences• Purchase history• Media channel segmentation
Audience Development
AUDIENCE DEVELOPMENT
Match customer data (Email, Phone, Device, Cookie) to social profiles on Facebook, Instagram and Twitter
JANE DOE
CUSTOM AUDIENCE DEVELOPMENT
CUSTOM AUDIENCE SEGMENTSDATA SOURCES
CUSTOM AUDIENCE DEVELOPMENT
SOCIAL SHOPPING CART ABANDONMENTDYNAMIC PRODUCT RETARGETING
CHATBOTS ARE DISRUPTING
NATIVE MOBILE APPS
• EVALUATE ORGANIZATIONAL DATA MATURATION
• DRIVE THE BUSINESS TOWARDS CUSTOMER CENTRICITY
• SEGMENT AND TARGET HIGH CLV CONSUMERS• TEST AND LEARN
KEY TAKEAWAYS
- ALBERT EINSTEIN
“Strive not to be a success,
but rather to be of value.”
