Digital Marketing Channel - Choosing the Right Mix
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Transcript of Digital Marketing Channel - Choosing the Right Mix
Using the Appropriate Channel
By Fahmi Mohammed
Confidential
The Customer of the Future
• Connecting to the insurance customer is becoming
more difficult
• Customers prefer interaction point choices
• Consumers don’t want information to be channelled;
they want to interact with their providers
The Customer of the Future is Diverse and Multimodal
How Customers Explore & Purchase
• Slightly more than 20% of consumers use only a single point of interaction for
searching and purchase insurance products.
• Proves that a ‘channel strategy’ (Eg. Agent Network Based only) is less fruitful
Source: Institute for Business Value (IBM)
Mix & Match Interactions
• Takaful providers should segment their customers – based on psychographics and
not just demographics in order to get closer
• By knowing the psychographics of customers, adopt marketing approach that
matches customers’ preference.
Security-oriented
Individualist
I don’t need personal advice
Informed Optimizer
Demanding Support-
seeker
I need personal advice
Support-seeking Skeptio
Loyal Quality-seeker
I trust my insurer & remain a loyal customer
Price-oriented
Minimalist
Need advice but prefer
distance from my insurer
I’m price sensitive & don’t want
to pay for unneeded support
I take time to research to
find the best
Customer Profile Types
Source: Institute of Business Value
Confidential
The Digital Marketing Mix
WEB
Search
Display
Social
Mobile
Affiliates
The Sales Funnel – A User’s Journey
Display / Social
Search
(Paid & Natural)
Affiliates
(Cash back/Voucher Codes)
Brand Search (‘Direct Travel’)
Conversion
Retention
Email &
Social
• High Volume
• High Brand Visibility
• Low Direct Conversion %
• High Click Cost
• Low Click Cost
• Volume influenced by visibility at
start of funnel
• Very High Conversion %
Display and Social Channels
• Disruptive
• High reach & visibility
• Suitable for Branding & Engagement
• Google Display Network, Real Time Bidding, Ad Networks
Brand engaging with
its Fans
Search Channel
• Paid Search
• Instant first page placement
• You only advertise to people who are actively searching for your product/service
• You only pay when they respond – when they click through to your site
• Pricing is determined by an on-going, real-time auction based on true market values
Paid Search
determined by
auction model
Natural Search
determined by relevance
and authority
Confidential
Affiliates Channel
• Cost-effective Customer
Acquisition – seller only pays on
performance/sale.
• Fixed cost due to a CPA model.
• Affiliates can secure high ranking on
search engines giving additional free
brand visibility.
• Affiliate marketing gives
transparency on the return on
investment ROI
Email Marketing Channel
• Allows targeting (Retention)
• Data driven
• Drives direct sales
• Builds relationships, loyalty and trust
• Supports sales through other channels
Tracking Your User’s Journey
Display, Social & Generic Search
• Key Success Metric: Assisted Conversions
Search, RTB & Affiliates
• Key Success Metric: Last Click Conversions
Efficient ROI
• These channels
contribute to sales but
get no recognition for
their role
• Typically this results in
under spending on
these channels
• These channels get all
the glory
• Spend is pumped into
these channels but
volume plateaus are hit
very quickly as Villain
channels are ignored and
no traffic is coming in at
the top of the funnel
Hero Channels Villain Channels
• Key is to track
and report on
the influence
Villain Channels
are playing in
your users
journey
Confidential
Growing Visibility
Channel Best Practice
Maximise Conversion
Maximise Retention
Operate at Higher CPA
CRM Strategy
Channel
Optimisations
PPC, Display & SEO best practice
Confidential
Mobile’s Growing Faster than Anyone Expected
• Search behaviour and motivations differ on Mobile &
Tablets compared to Desktop
• Potential Return is Medium to High
• Mobile traffic will reach 20% to Desktop by End of
2012. (Source: Google)
Confidential
Any Questions?
Fahmi Mohammed
Absorb Digital Ltd
Tel: +44 (0)207 193 3755
Email: [email protected]
www.absorb-digital.com
Twitter: @Absorb_Digital