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digital-marketing

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analyses c an be done b y oper ationalizing these v ariables dif ferently, let’s assume her e tha t recency refers to the r ecency of the last purchase in da ys, fr equenc y to the fr equenc y of pur chases o ver three mon ths (or a quar ter), and mone tary value to the total amoun t spen t during this period. Firms will o ften star t by indic ating the e xact number associa ted with e ach v ariable and mo ve to cr eate c ategories f or e ach. For example: Recency Frequency Monetar y value 1 Very recent Very frequen t High value 2 Recent Frequen t Medium value 3 Not recent Infrequen t Low value They will perf orm their anal ysis wi th these c ategories. We can then cr eate segmen ts by combining these toge ther. The following table sho ws e xamples o f such segmen ts, wher e “x” stands for an y number (i.e., i ts value is not impor tant for def ining tha t segmen t). Segmen t Recency Frequency Monetar y value Best customers 1 1 1 Loyal customers x 1 x Big spenders x x 1 Lost or almost lost customers 3 1 1 Thrif ters 3 3 1 224 | Engage: B uilding Lo yalty and Co-Cr eating Wi th Customers

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Then, e ach customer will be c oded base d on the c ategories cr eated above, as sho wn in the f ollowing table. Customer Recency Frequency Monetar y value Jack 3 3 1 Jill 1 1 1 Bill 3 1 2 Sean 3 1 3 Raymond 2 2 2 Tom 1 1 1 Tina 3 3 1 Mariah 2 3 2 Sanjit 1 3 3 Todd 1 2 3 Becky 1 1 1 Seth 2 3 2 Caroline 3 2 1 This allo ws f irms to c ategoriz e customers in to the c ategories just created (e.g., best customers, lo yal customers, e tc.). These categories o f customers c an help de cide which segmen ts to concentrate on and wha t kind o f str ategy to use to engage customers. Examples c ould include perf orming r etention campaigns wi th big spenders, r ecuper ating almost lost customers, or mo ving lo yal customers to incr ease their mone tary value o ver time. A f irm c ould also tar get its best customer segmen t: send an appr eciation le tter, anal yze their personal pr eferences for mor e personaliz ed offers, or gener ally de velop str ategies to k eep this segmen t hig hly satisfied. Althoug h simple, RFM anal ysis is a useful tool to f oster engagemen t. A mor e thor ough anal ysis c ould c ombine RFM wi th personas and e valuate whe ther personas also shar e commonali ties Engage: B uilding Lo yalty and Co-Cr eating Wi th Customers | 225

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or dif ferences in their pur chasing beha viors, le ading to the cr eation of even mor e personaliz ed campaigns. Net P romoter Sc ore Another appr oach to me asuring customer sa tisfac tion and engagemen t tha t is widel y used is the net pr omoter scor e (NPS). Describe d by the Harvard Business R eview as “the one number y ou need to gr ow,” NPS is associa ted wi th a sing le, one question sur vey base d on customer engagemen t tha t has sho wn o ver time to be a great predictor o f firm suc cess. To calcula te the NPS, a f irm f irst asks the f ollowing question to its customers: “H ow lik ely is i t tha t you w ould r ecommend our compan y/produc t/ser vice to a friend or c olleague ?” (N ote: NPS has also be en use d in the past wi th other t ypes o f responden ts, such as emplo yees or r esellers, depending on which popula tion a c ompan y wants to me asur e). Responden ts ar e ask ed to answ er using a 0 to 10 sc ale, wi th 10 being “ extremel y lik ely” and 0 being “ not a t all likely.” The NPS is then c alcula ted by subtr acting the per centage of detractors fr om the per centage o f promoters. The r esult r anges from − 100% ( all de tractors) to 100% ( all pr omoters ) (Figur e 9.1). Figur e 9.1 Net Pr omoter Scor e Promoter s are those who answ er 9 and 10 . The y are satisfied, lo yal 226 | Engage: B uilding Lo yalty and Co-Cr eating Wi th Customers

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customers tha t will def initely recommend a br and to others. The y are consider ed to e xhibi t value-cr eating beha viors, such as r epeat buying, hig her a verage bask et, and longer r etention time. The y account for most r eferrals for a br and. Firms ar e ad vised to le arn from pr omoters: W hat mak es them so sa tisfied and engage d? Do they belong to a spe cific persona ? How w ere the y ac quired? Promoters c an be use d to iden tify a winning f ormula tha t can poten tially be r eplic ated with other customers. Passives are those who answ er 7 and 8. The y ar e sa tisfied customers who mostl y neutr al about their e xperienc e with a br and. Firms ar e advised to w ork toward converting passiv es to pr omoters. Detr actor s are those who answ er 6 or less. The y are gener ally unhapp y customers tha t will not r ecommend a br and to others. They mig ht engage in v alue destruc tive beha viors, such as nega tive word of mouth. The y ha ve a hig h churn r ate. Firms ar e ad vised to recover de tractors. The y can also ask themsel ves questions similar to those f or pr omoters: W hat mak es them unsa tisfied wi th the brand? Do the y belong to a spe cific persona ? How w ere the y acquired? For e xample, if a f irm le arne d tha t spe cific a persona was responsible f or most de tractors, tha t should af fect its futur e strategy in terms o f wher e to de dicate customer ac quisi tion ef forts. Engaging Customers in Co-Cr eation Activities Co-cr eation refers to the join t creation o f value b y a c ompan y and its customers ( Prahalad and Ramasw any 2004 ). Nowadays, most marketing ac tivities c an be c o-cr

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any 2004 ). Nowadays, most marketing ac tivities c an be c o-cr eated wi th c onsumers, whe ther those ac tivities be mar ket research, pr oduc t inno vation, ad vertising campaigns, or customer suppor t. We can c ategoriz e consumers in to two br oad c ategories o f co- creators. The f irst c ategor y is c ompose d of user inno vators or lead Engage: B uilding Lo yalty and Co-Cr eating Wi th Customers | 227

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user s, hig hly in volved and hig hly compe tent consumers who participa te in c o-cr eation ac tivities to answ er their o wn ne eds or desir es. This is the kind o f co-cr eator tha t MIT pr ofessor Eric V on Hippel has be en stud ying sinc e the mid- 1980s. Le ad users ha ve been found to c o-cr eate value wi th firms in div erse mar kets, such as 3M and sur geons in the me dical industr y, ama teur and pr ofessional athletes in spor ts as v aried as windsurf ing, r ollerblading, snowboar ding, and r odeo ka yaking ( e.g., Shah 2003 ), or c omputer geeks and open sour ce software in IT ( Von H ippel 2005 ). The se cond c ategor y of co-cr eators is everyday consumer s. These c o-cr eators ar e pe ople who ar e not par ticular ly involved in a produc t categor y or par ticular ly compe tent. The y will pr obabl y not benef it from their c o-cr eation ac tivities. The y par ticipa te in c o- creation ac tivities be cause i t ser ves their ne eds (e.g., taking on the role o f a cler k when using an A TM or self -che ckout), be cause i t is part of their ac tivities wi th a c ompan y (e.g., c o-cr eating c ontent when w e post social me dia c ontent), or be cause i t is fun ( e.g., participa ting in a c ontest wher e we can choose the name o f a produc t or r edesign an ad). A useful tool f or thinking about ho w consumers c an par ticipa te in co-cr eation ac tivities is the v alue chain. The value chain is a tool that helps c onceptualiz e wher e value is cr eated in f irm ac tivities. For e xample, the mar keting func tion c an be thoug ht

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For e xample, the mar keting func tion c an be thoug ht of as the se t of activities sho wn in Figur e 9.2 (text version here), thr ough which a firm cr eates v alue f or itself and i ts customers. Figur e 9.2 Value Chain / Text Description 228 | Engage: B uilding Lo yalty and Co-Cr eating Wi th Customers

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Each o f these ac tivities c an cr eate v alue. For e xample, mar ket research cr eates v alue b y leading to a be tter understanding o f consumers and their ne eds. I nnovation helps cr eate pr oduc ts tha t addr ess those ne eds. Pr oduc tion cr eates v alue b y turning a c oncept into r eality. Mar keting cr eates v alue b y attracting sales and customers, and sales cr eate value b y making these sales happen and distributing pr oduc ts to c onsumers. Customer suppor t creates value b y maximizing r etention and sa tisfac tion. The v alue chain helps us understand ho w to c o-cr eate value wi th consumers b y emphasizing wher e the y can cr eate value. Le t’s see how value c an be c o-cr eated during e ach o f these ac tivities. For mar ket research, one o f the most ob vious w ays tha t consumers c o-cr eate value is b y sharing their opinions wi th firms. For some c ompanies, this me chanism has be en formaliz ed outside of ad hoc r esearch ef forts. For e xample, De Walt se t up an “I nsight Communi ty,” which the y use to send se veral sur veys per w eek to interact wi th c onsumers. B y using this c ommuni ty rather than traditional mar ket research firms, the y estima te the y saved about $5 million in mar ket research costs in 2016 alone . Another e xample of value c o-cr eation in mar ket research is cr owdsour ced mar ket research f irms such as T rendwatching. T rendwatching publishes regular r epor ts on emer ging tr ends in dif ferent mar kets. T o create these r epor ts, the y rely on an in terna tional c ommuni ty of trend watchers tha t are par t of its TrendWatching Global I nsight Network (tw:in) who ar e task ed wi th spot ting emer ging tr ends and sharing them wi th

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who ar e task ed wi th spot ting emer ging tr ends and sharing them wi th the c ompan y. For design and inno vation, ther e are man y examples o f companies who ha ve task ed consumers wi th coming up wi th inno vative ide as. Examples include ini tiatives wher e everyday consumers discuss new pr oduc t ide as wi th firms, such as Lego I deas and BMW Co- Creation L ab. Other ini tiatives pi tch le ad users in c ompe tition against one another , such as the Heinek en Open Design and the Anheuser -Busch “King o f Beers.” At the pr oduc tion stage, e xamples v ary. In our e veryday lives, w e all contribute to c o-pr oducing social me dia c ontent, which w e then Engage: B uilding Lo yalty and Co-Cr eating Wi th Customers | 229

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consume fr om one another . Social me dia is mostl y a c o-cr eated activity. Althoug h we all f ollow celebri ties wi th audienc es of varying sizes, c ontent produc ers ar e often other c onsumers lik e you and me. The business model o f social me dia f irms aims to pr ovide a platform f or co-cr eation ( and mone tize this pla tform wi th ads ), but users ar e those who pr oduc e wha t is c onsume d. For ma terial produc ts, ther e is some hope tha t the rise o f 3D prin ting will le ad to consumers being able to c o-pr oduc e produc ts at home. Ev en toda y, designs c an be do wnloade d online, and c onsumers ar e responsible for manufac turing the pr oduc t at home. This e choes other “ maker” activities, such as se wing or kni tting, wher e making some thing is the c onsumption ac tivity (e.g., making a shir t from a pa ttern). Produc t customiza tion, such as NikeID, is also an e xample o f the co-pr oduc tion o f produc ts sinc e consumers ar e task ed with making design de cisions. For mar keting, an y mar keting c ampaign base d on w ord of mouth, such as vir al mar keting, is a co-cr eated mar keting acti vity. In such campaigns, c onsumers be come c o-cr eators o f the c ampaign b y participa ting in i ts dif fusion. Shar eable c ontent, such as S potif y yearly “Wrappe d” or mor e traditional en tertaining ad vertisemen ts such as Dietz & W atson Die tz Nuts recruit consumers who be come channels thr ough which ads ar e dif fused. In other c ampaigns, such as hash tag c ampaigns , consumers’ r ole as c o-cr eator is heig htene d as the y also c o-pr oduc e content.

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is heig htene d as the y also c o-pr oduc e content. Similar ly, sales c an c o-cr eated by consumers when the y shar e produc t links or pr omo c odes or when the y contribute to companies’ sales pi tches b y wri ting testimonials or posi tive reviews. Lastly, consumers r egular ly co-cr eate customer suppor t. Forums wher e consumers answ er e ach other questions, such as Apple Suppor t Communi ties or Tesla Forums , co-cr eate customer suppor t. Consumers similar ly answ er one another’ s questions in different ways, such as in c ommuni ties not dir ectly owned by brands. The y also cr eate content on blogs and social me dia channels such as Y ouTube to e xplain ho w the y addr ess some issues the y might have fac ed. 230 | Engage: B uilding Lo yalty and Co-Cr eating Wi th Customers

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Exer cises You ar e Spikeball (see the f ollowing vide o): A video element has been e xcluded fr om this version of the te xt. You can watch it online here: https:/ /opente xtbooks. concor dia.ca/ digitalmar keting/?p=406 We want to cr eate co-cr eation ac tivities along the v alue chain. Lead U sers 1. Who c ould be le ad users? 2. Find t wo co-cr eation ac tivities tha t lead users c an participa te in. Engage: B uilding Lo yalty and Co-Cr eating Wi th Customers | 231

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The R emaining F our Co-cr eation Activities 1. Find a w ay to iden tify everyday customers who ar e most lik ely to par ticipa te wi th you in c o-cr eation activities. 2. Find ac tivities to in tegrate those e veryday consumers. Note: These six ac tivities ( two for le ad users and f our f or everyday consumers ) should tar get the six mar keting activities o f the v alue chain independen tly, i.e., one ac tivity for mar ket research, one f or design and inno vation, and so on. 232 | Engage: B uilding Lo yalty and Co-Cr eating Wi th Customers

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About the Author PIERRE- YANN DOLBEC Pierr e-Yann Dol bec is an assistan t pr ofessor o f mar keting and Conc ordia Univ ersity Research Chair in Comple xity and Mar kets at the J ohn M olson School o f Business, Conc ordia Univ ersity. His research tackles big questions to understand the c omple xity of markets and ho w pe ople and or ganiza tions manage c omple xity. It has be en publishe d in the Journal o f Retailing , the Journal o f Consumer R esearch, the Journal o f Mar keting R esearch, and Marketing The ory, wher e it has r eceived distinc tions such as most cited and most do wnloade d ar ticles. Recent me dia c overage includes the N ational P ost, Channel N ews Asia, CT V News, Global News, CBC, J ournal de M ontreal, Les Af faires, and Le De voir. He has r eceived mor e than $ 700,000 in funding fr om v aried funding sour ces, such as the Social Scienc e and H umani ties Research Council and the Fonds Socié té et Cultur e, is an e ditorial review boar d member o f the J ournal o f Consumer R esearch and an instruc tor a t the J ohn M olson School o f Business, wher e he is responsible f or the dig ital mar keting under gradua te course. About the Author | 233

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Versioning History PIERRE- YANN DOLBEC This page pr ovides a r ecord of changes made to this open te xtbook since its ini tial public ation. I f the change is minor , the v ersion number incr eases b y 0.1. If the change in volves substan tial upda tes, the v ersion number incr eases to the ne xt full number . Version Date Detail 1.0 Fall 2020 Pilot v ersion r eleased 2.0 Sep 20 21 • Overall book struc ture is r eorganiz ed (e.g. Parts, Chapters, H eadings ) • List o f Figur es is adde d • Addi tional r esour ces and e xercises ar e adde d 234 | Versioning H istor y

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Appendix: T ext D escriptions of Figur es Figur e 2.2 T ypes of Segmentation ? By Beha vior • benef its soug ht from the pr oduc t • how often the pr oduc t is use d (usage r ate) • usage si tuation ( daily use, holida y use, e tc.) • buyer’s sta tus and lo yalty to pr oduc t (non-user , poten tial user , first-time user , regular user ) By D emogr aphics • age/gener ation • income • gender • famil y life cycle • ethnici ty • famil y siz e • occupa tion • education • nationali ty • religion • social class Appendix: T ext Descriptions o f Figur es | 235

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By Ge ography • region ( continen t, country, state, neig hbor hood) • size of city or to wn • popula tion densi ty • clima te By Psychogr aphics • activities • interests • opinions • values • attitudes • lifestyles Figur e 2.3 R V Betty ? Betty liv es in the suburb o f a lar ge Canadian ci ty. She and her husband ha ve both r ecently retired. One o f their lif e dr eams is to tr avel acr oss N orth Americ a during their r etiremen t. W hile she doesn ’t consider herself w ealthy, she and her husband ha ve saved enoug h during their lif etime to mak e their dr eam a r eality and en joy their r etiremen t. Betty is w orrie d about ho w to tr avel in an R V: how to f ind utili ty hookups, wher e to sta y when y ou ha ve an R V, wha t happens if you blo w a tir e, ho w to plan her r outes… She w ants an R V wi th certain char acteristics. S ince she is r etiring ( and older ), it has to be comfortable. She plans to spend most o f her time in i t! She also has a great network of friends, and she w ould lik e her friends to spend 236 | Appendix: T ext Descriptions o f Figur es

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time wi th her in the R V, so she is looking a t addi tional sle eping spac e and plen ty of room. Ma ybe she ’d lik e to host dinner time! All in all, she’d like an R V tha t mak es her e xperienc e easy when tr aveling. Figur e 4.2 KPIs Example ? The obje ctive is pr oduc t awareness, which le ads to the goals: to have users subscribe to upda tes and to ha ve users engage wi th produc t types and f eatures. Each o f these goals is associa ted wi th two KP Is. For the goal o f having users subscribe to upda tes, the KP Is are ha ving c ontact forms be submi tted and ha ving email subscribe forms be submi tted. For the user engagemen t goal, the KP Is are virtual mirr or use and pr oduc t content populari ty. Figur e 4.3 AARRR ? Acquisi tion: How do y our customers f ind y ou? Activation: How quickl y can y ou ge t to y our customer’ s “Aha momen t”? Reten tion: How man y of your customers ar e you r etaining, and why are you losing the others? Referral: How can you turn y our customers in to ad vocates? Revenue: How can you incr ease r evenue ? Figur e 4.4 RA CE Goals ? 1. Reach: Cr eate awareness; driv e visi ts; cr eate posi tive Appendix: T ext Descriptions o f Figur es | 237

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interactions. 2. Act: Gener ate le ads. 3. Convert: Con vert lead to pa ying customer; cr eate lo yalty. 4. Engage: Cr eate ad vocates. Figur e 4.8 Conversion P ath – 2nd Example ? Path 1 1. Reach ◦ sponsor ed Instagr am ad ◦ outbound 1 2. Act ◦ giveaway on I nstagr am ◦ inbound 1 3. Convert ◦ retargeting email c ampaign ◦ outbound 2 4. Engage ◦ create en tertaining c ontent ◦ inbound 2 238 | Appendix: T ext Descriptions o f Figur es

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Path 2 1. Reach ◦ SEO k eywords ◦ inbound 3 2. Act ◦ blog post wi th opt-in ◦ inbound 4 3. Convert ◦ retargeted Fac ebook ad ◦ outbound 3 4. Engage ◦ create inf orma tive content ◦ inbound 5 Figur e 4.9 RA CE? 1. Plan: Def ine y our goals and str ategy. 2. Reach: Gr ow your a udienc e using paid, o wned and e arne d media. 3. Act: Prompt in teractions, subscribers, and le ads. 4. Convert: Achie ve sales online or o ffline. 5. Engage: Enc ourage r epeat business. Re-automa te: Con tinue to c ycle thr ough the stages. Appendix: T ext Descriptions o f Figur es | 239

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Figur e 5.18 Longtail K eywords and Conversion Rate ? A gr aph sho wing se arch v olume vs. c onversion r ate. In the upper left, the se arch “toma to plan t,” with an a verage o f 22, 000 mon thly searches, has a v ery hig h search volume and a v ery low conversion rate. “ When to plan t toma toes, ” with 3, 600 mon thly se arches on average, falls mor e toward the middle o f the gr aph. The long tail, wher e conversion r ate is hig h and se arch v olume is lo w, is f orme d by the se arch “wh y are my toma to plan ts turning y ellow,” which has only 390 a verage mon thly searches. Figur e 5.19 F acebook Ad Obje ctives ? Awareness Consider ation Conversion Brand a wareness Traffic Conversions Reach Engagemen t Catalog sales App installs Vide o vie ws Lead gener ation Messages 240 | Appendix: T ext Descriptions o f Figur es

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Figur e 6.13 Content Calendar ? week netw ork time content type topic copy link week 1 week 1: M onda y, date xx /xx/xx Facebook 07:00 New blog post silen t video Are you optimizing y our video for vie wing wi thout sound? Y ou should be. http://ow.ly 10:00 Curated content new features Infinite snaps, loops, and a mag ic er aser? W oah http://ow.ly 12:00 Vide o music resour ces Don’t risk y our vide o being r emo ved or y our account kille d. Here’s the full list o f free resour ces: http://ow.ly.tNx530b KlqN (inser t vide 15:00 Promotion produc t launch Liftmetrix – H otsui te impac t – N ew name and offerings to help y ou measur e and maximiz e ROI: http://ow.ly/ zkjS530b KlqN http://ow.ly tNx530b Klq 17:00 Live news news upda te A lot o f social me dia upda tes happene d this mon th. Le t us kno w your reaction to these ones. (include CT Figur e 7.10 Email Automation ? Week 1: Send email. P ossible ac tions and their c onse quenc es: • An Unsub triggers no fur ther ac tion. • A Non-Open ma y optionall y trigger r esending the email. • Open, Click, S ubscribe mo ves on to Email 4 (lo yalty). • Open, Click or Abandone d Subscribe will mo ve on to Email 2. Appendix: T ext Descriptions o f Figur es | 241

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Week 2: Email 2 ( extra inc entive) • An Unsub triggers no fur ther ac tion. • Open, Click, S ubscribe mo ves on to Email 4 (lo yalty). • Open, Click or Abandone d Subscribe will mo ve on to Email 3 (extra inc entive offer ending) and also r eceive Email 5 ( survey). • Non Open ma y trigger telesales or a D M Week 3: Email 3 ( extra inc entive offer ending) • Open, Click, S ubscribe mo ves on to Email 4 (lo yalty). Figur e 8.2 Funnel ? Goals: • new customer r evenue: $5M • average sales pric e: $75, 000 • close d won c ontracts: 67 Inquiries and W eb Visits Leads MQLs SQLs Opportuni ties Close d Won Target 9550 9550 1910 382 191 67 Conversion Rate 10% 20% 20% 50% 35% 242 | Appendix: T ext Descriptions o f Figur es

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Figur e 8.20 Landing P age Evaluation ? Page Elemen t Elemen t Con tent Scor e Headline “Ocean of data instan tly becomes security intelligenc e” 0 Subhe ad Whitepaper do wnload (“ The ne xt gener ation f irewall is her e”) 2 Hero shoot Photo o f a man holding some paper which is par tially obscur ed 1 Intro “WatchGuar d XTM is the N ext Gener ation Fir ewall of choic e for businesses and en terprises alik e, providing best-in-class ne twork security at affordable pric es” 0 Bullets “Blazing fast thr oughput” “Best-in-class se curity solutions” “Advanced ne tworking f eatures” 0 Form he ader “Download y our whi tepaper! Comple te the r equired fields” 1 Form f ields Coun try, province/sta te, phone number 0 Testimonial “I began using W atchGuar d produc ts more than eig ht years ago…” 0 Learn mor e “Learn mor e about W atchGuar d Dimension ” 0 Why “Best-in-class se curity” “Easy-to-manage solutions” “Take advantage o f data for se curity” 0 Privacy sta temen t “We will ne ver sell y our email to an y 3rd party or send y ou nast y spam. ” 0 Call to ac tion Get my offer 0 Total 4 Appendix: T ext Descriptions o f Figur es | 243

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Figur e 9.2 V alue Chain ? Activity Co-cr eated v alue Market search Online c ommuni ties Design and inno vation Lead user inno vation Produc tion User-gener ated content and funding Marketing Seeding on blogs Sales eWOM Customer suppor t User te ch suppor t 244 | Appendix: T ext Descriptions o f Figur es

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Table for Exer cises in Chapters 4 ?, 5?, and 6 ? Stage of Journe y Awareness Active Evalua tion Purchase Loyalty Concr ete actions • check loc al influenc ers • search on Goog le for informa tion about working out • compar e atmospher e and interiors o f different gyms base d on pic tures • check online reviews • get mor e informa tion about programs • check for promotions • go online and comple te transac tion • shar e referral code wi th friends • post pictures from workouts online Touch poin ts • Instagr am • Goog le search • Instagr am • Goog le • Yelp • direct visi ts • coupon websites • direct visi ts • Facebook • Instagr am Opportuni ties Appendix: T ext Descriptions o f Figur es | 245

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