Real-Time Personalization in Action (Alvin Glay)
Post on 01-Nov-2014
DESCRIPTIONFocusing on targeting customers in a near instantaneous manner and using specific data points to personalize messages and product offerings across all channels and devices is crucial to success. The pace of technological change is shifting customer expectations, both consciously and subconsciously, and marketing in real time not only creates a truly relevant customer experience, but also differentiates your company from the rest. Here Verizons Alvin Glay explains how the telecom giant has used real-time marketing to make its customer experience more personalized, relevant, and ultimately, more profitable.
1. #monetatesummit Real-Time PersonalizationinAction AlvinGlay, VerizonWireless 2. Agenda Personalization overview Why it matters Biggest barriers Our approach to personalization Personalization in action 3. Defining Personalization Personalization is: The right content for the right person at the right time Personalization is not: A/B testing UX fixes 4. Consumers Want to be Accommodated Source: Econsultancy / Monetate Real-Time Marketing Report 5. Consumers Want to be Accommodated Consumers are now used to having everything they want, when they want it. There is no margin for error anymore for the wrong message, the wrong time, the wrong audience or the wrong product. Source: Econsultancy / Monetate Real-Time Marketing Report 6. Benefits of Personalization Source: Econsultancy / Monetate Real-Time Marketing Report Perceived Benefits: 7. Benefits of Personalization Source: Econsultancy / Monetate Real-Time Marketing Report Companies reported a 26% uplift in conversion rate coming from real-time marketing activities Perceived Benefits: 8. Its Everywhere 9. Its Everywhere Source:'Amazon.comSource:'Google.com' 10. Source: Econsultancy / Monetate Real-Time Marketing Report 11. but its not the easiest thing to start doing Barriers to effective real-time marketing Source: Econsultancy / Monetate Real-Time Marketing Report 12. Personalization on VerizonWireless.com 13. The Verizon Wireless Customer Example Customers Prospects Techies Fitness experts Innovators Early adopters Brand loyalists Comparison shoppers There are many unique customers, all shopping multiple products and categories: Buying... Network Device Home services Accessories 14. Making the Choice: Partnering with Monetate A Winning Product Make multiple site-wide changes for multiple segments without requiring any IT involvement Speed to market, we can start right now, no development deployments Run multiple experiences at the same time for different segments Full-Service Digital Optimization and Personalization Team Strategic services Innovative recommendations/guidance Great collaboration and partnership 15. Monetate, eCRM, BlueKai, Neustar Approaching Personalization Tools we use to approach personalization: Our people/corporate strategy Monetate Agencies Partners Multiple team members Who we use to implement personalization across the site: 16. ! Verizon initially focused on high-volume, and then shifted to high-value segments. ! Through this, we learned that it is okay to start out with simple campaigns. Figuring Out Where to Start 17. Phases of Personalization 18. Phase 1 Macro Segments New/Returning Geo-location Mobile/Desktop Phases of Personalization 19. Phase 1 Macro Segments New/Returning Geo-location Mobile/Desktop Phase 2 Key Segments Marketing Channel Product Affinity Loyalty Phases of Personalization 20. Phase 1 Macro Segments New/Returning Geo-location Mobile/Desktop Phase 2 Key Segments Marketing Channel Product Affinity Loyalty Phase 3 Personas Life-Cycle Multiple Attributes Driven by Phase 1 & 2 Phases of Personalization 21. Phase 1: Start Using Macrosegmentation, High Volume Start off looking at consumer segments at a high level (i.e. new vs. returning) 22. Start combining segments with each other to move toward a more personalized site experience. Phase 2: Moving From Macrosegments to Key Segments Additional target options: iPhone vs Android Urban vs Suburban High-purchase frequency Affiliate network shopper New visitors coming from key search terms Previously purchased X product May Like Y Examples of key segments: 23. Phase 2 Example: Affiliate Segment 24. Phase 2 Example: Galaxy Gear 25. Use data from Phase 1 and Phase 2 to build and drive persona-based examples Phase 3: Driving Persona-Based Experiences This is the ultimate goal of personalization: to have your customers feel as if their website experience is totally unique 26. ! High penetration and high LTV Highest rate of connected tablet ownership Most tech-savvy group First to buy new technology and fashion Heavy travelers and users of public transit Likes a good deal but will also pay more for quality Online activity includes fantasy sports, shopping, travel Verizon Wireless Personas Big city couples Customers close to deactivation On-site behavior showing that they may be close to closing their accounts 3rd party data indicating in-market for competitive providers 27. Challenge: To successfully motivate users to complete transactions within the online channel instead of going to Verizon store locations ! Hypothesis: Users who seek physical Verizon Wireless store locations via search engines and the store locator page can successfully be pulled back into the online channel when the value propositions of online options are reinforced Phases of Personalization in Play 28. Added a banner and dynamic text offering free shipping on the store locator page, reinforcing the value proposition to entice shoppers to buy online Phases of Personalization in Play Phase 1 29. Added a banner and dynamic text offering free shipping on the store locator page, reinforcing the value proposition to entice shoppers to buy online Phases of Personalization in Play Phase 1 30. Updated banner and dynamic text to read Free Next Day/ Overnight/Weekend Shipping based on time of visit Phases of Personalization in Play Phase 2 31. Updated banner and dynamic text to read Free Next Day/ Overnight/Weekend Shipping based on time of visit Phases of Personalization in Play Phase 2 32. Updated banner and dynamic text Stay off the roads & order online on store locator page to visitors in areas where its currently snowing (paired with shipping promo) Phases of Personalization in Play Phase 3 33. Updated banner and dynamic text Stay off the roads & order online on store locator page to visitors in areas where its currently snowing (paired with shipping promo) Phases of Personalization in Play Phase 3 34. 1. Focus on core personas remember high value, high volume 2. Partner with the right tools 3. Start simple 4. Use your data to drive your decisions Key Steps to Implementing Personalization
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