A Guide to KYC with SAP Hybris Marketing Cloud

24.04.2018
8 min.
title

Customers are getting more informed and connected by the hour. In order to upsell to them, first, you need to create highly customized and memorable micro-moments. They can make the customer not only stay but also come back, share, and advocate for your brand.

In this article, we’ll look at how SAP Hybris Marketing Cloud can help you harness a know-your-customer strategy to create successful marketing campaigns.

A Leading Suite

Forrester researched 40 organizations of different types, and SAP Hybris came out on top as a market leader. According to the study, the suite helps achieve an ROI of 307%, as well as can bring $23.5 million in benefits and payback in less than a year.

Marketing campaigns managed with SAP Hybris produce better results, according to Forbes, with 6 times faster sales inquiries processing, and 2–3 times faster marketing campaign preparation. The experts also cite the platform’s easy-to-use and more progressive tools as well as more out-the-box features for the same buck when compared to rivals.

Using SAP Hybris Marketing Cloud, you can bring on more efficiency to these key marketing domains:

  • Dynamic customer profiling
  • Segmentation and campaign management
  • Customer loyalty and advocacy
  • Planning and performance monitoring
  • Insightful analytics
  • Lead management
  • Customer attribution

Let’s look at the following five applications of the SAP Hybris Marketing Cloud tools helping users reach their main KYC goals.

#1. Sentiment-based Customer Profiling

SAP Hybris was designed to help businesses analyze customer behavior in order to level up their customer experience management through deeply personalized relationships. This platform brings together data from dozens of interconnected enterprise systems and helps get a single view of each customer and their journey.

With SAP Hybris Marketing Cloud, you can track sentiment and study individual insights into your customers’ behavior and social engagement. Using filters is easy, and you can drill down into a detailed view of each customer interaction. You can see the totality of posts mentioning your brand, with the stats on positive versus negative mentions. You can analyze customer sentiments over a specific period and tweak your actions accordingly. In addition, you can view the average sentiment score and overall brand appreciation of your target audience.

With this solution, responding to negative feedback timely becomes easier. You can pinpoint an individual post that generated negative feedback for a particular customer and come up with appropriate corrective actions. This helps brands to win back their unhappy customers and turn them into brand ambassadors.

A Case Study:

The NHL is using SAP Hybris to understand and analyze fan behavior, get valuable insights, set up smarter communication, and personalize engagement at every step of the interaction process. By using the suite, the NHL launched a new statistics presentation method to provide better experiences to fans through relevant filtering, contextualization, and history search features.

According to the published results, the conversion and call-to-action success rates got higher, with 25% more visitors to the NHL website and 45% more engagement in terms of the time spent on the website.

#2. Segment-specific Campaign Management

To create personalized messages, you must know your target audience very well. One of the tools in the suite, SAP Hybris Marketing Convert, was developed specifically to enable highly personalized email marketing campaigns that are triggered by certain customer actions.

The tool allows managing multi-wave email campaigns effectively, so no more emailing to random customers in the dark. The features of SAP Hybris Marketing Convert include creating target lists and planning email campaign waves to those who respond and those who don’t, with real-time results that are easy to analyze and use for future campaigns.

Deeply rooted in customer profiling, this tool allows tweaking active campaigns, predicting their outcomes, and canceling those that are unlikely to bring the desired results. Also, by harnessing such KYC tools, you can identify the most effective channels for each customer and use them over the others to encourage better engagement.

A Case Study:

SAP Hybris Marketing Convert helps regain and retain customers who abandon shopping carts mid-session. For example, CheapCaribbean.com that sells affordable luxury holiday packages to 1.5 million customers used the tool exactly toward this goal.

This was done with the help of multistage intelligent remarketing emails that encouraged wanderers to return to their CheapCaribbean.com shopping carts and complete their purchases. This resulted in 8% sales increase and 5 times more customer conversions when compared to the brand’s standard email marketing efforts. In the words of CheapCaribbean.com marketing manager Tom Patterson, “SAP Hybris Convert paid for itself after the first week of implementation.”

#3. Building Loyalty

You may think loyalty programs are a no-miss strategy. Well, not really. In a 2017 McKinsey Quarterly article, there’s a proof that customer loyalty is becoming increasingly volatile, with 58% of loyalty program participants not even using the programs they are subscribed to. In the McKinsey survey covering 125K+ consumers engaging with 350+ brands, 13% of consumers were driven by loyalty, coming back to the brand consistently, and 87% shopped around switching brands all the time. With such fickle audiences, a poorly executed loyalty program can destroy reputations and bring a brand’s value down. Let’s look at some of the reasons for this.

Back in 2015, 46.5 million people in the UK, or 92% of all the adult population, were signed up for a loyalty program of some sort. Yet £6 billion of rewards were left unclaimed because people simply didn’t know or care about abstract schemes where point redemption was time-consuming or unclear. General irrelevance of certain points and bonuses for particular customers may add to the churn. All factors combined, in 2017, the number of unclaimed loyalty rewards hit $100 billion in North America alone, according to Bond Brand Loyalty.

In order for a loyalty program to work out, it’s necessary to create micro-moments targeting particular customers. For example, a frugal customer will gravitate toward such selling points as price, convenience, and location. The closer you want to get to this type of customers, the more you lower the price and the easier you make it to purchase the product or service. Eventually, this drives loyalty up.

On the other hand, approaching a customer who values their social status over everything else with the same offer as you extended to the frugal group, and you may lose them forever. In this case, what matters more is a higher level of the membership, a premium loyalty card, a closed social media group, or a better local store location.

SAP Hybris Loyalty helps integrate loyalty programs into other ecommerce and marketing automation tools easily. The platform makes it easy to set up rules to reward positive online advocacy in a relevant way, to group brand advocates together by their membership levels, and automatically award points in exchange for ratings, referrals, and reviews. Such a toolset becomes integral if we talk about continually engaging customers and turning them into brand advocates.

#4. Lead Management

The lead management tools provide marketing and sales teams with every marketing insight necessary to generate and nurture leads. The solution is ready for the digital world where the customer feels rewarded, important, and influential in every interaction. This is made possible by the intelligent use of data that helps build even more precise marketing campaigns. SAP Hybris brings sales and marketing together to grow customers and generate more revenue. Salespeople can benefit from intuitive lead management dashboards to navigate through detailed customer profiles and relevant context. Tracking benchmarks and KPIs is user-friendly, too. The solution also facilitates third-party tools integration and complements the SAP Cloud for Customer with its out-of-the-box features.

The solution allows sales representatives to narrow the selection of leads by filtering them, to look up a lead’s details such as the company name, contact name, qualification level, activities listed, and more. While on the call with a lead, a sales rep can make notes about the lead’s needs, requests, and expectations in the call log. By getting more details, it’s possible to narrow down the choice of most suitable products or services and update the lead’s profile accordingly for future references.

With such a clear view of the leads, salespeople can easily generate their engagement scores, update lead statuses, convert leads into opportunities, and nurture through the sales funnel.

#5. Customer Attribution

According to the 2017 State of Marketing Attribution report, 81% of organizations use marketing attribution, but 70% of businesses struggle to plan appropriate action based on the insights derived from attribution. With the SAP Hybris Customer Attribution tool, it’s possible to gage marketing efforts easily and build intuitive campaigns.

The solution creates a single view of a brand’s channels and customer touchpoints, as well as monitors their performance in each particular case. This helps discover what marketing techniques do convert audiences into paying customers, and which should be discarded since they are not bringing desirable results.

This way, you can effectively organize and manage data that would be siloed, unstructured, scattered, and inaccurate otherwise. SAP Hybris Marketing is precisely designed for measuring marketing activities and impact on customers. This way, each brand response can become personalized, intelligent, and well-planned. Predictive algorithms are a big part of this functionality. All of a brand’s activities get visualized with the captured data and cleared of any discrepancies. Then machine learning comes into play, based on the collaborative game theory that suggests individual customers’ action outcomes before they take place.

The dedicated predictive dashboards can outline how new and existing customers will react to a certain trigger. Eventually, this translates into a higher marketing ROI as every other campaign will get more precise over time.

A Case Study:

Jet.com wanted to grow its customer base, maximizing their marketing campaign efficiency, increasing sales, and optimizing their media budget by reducing cost per customer activation.

The company turned to the SAP Hybris Customer Attribution tool that combined different marketing channels and campaigns into a single view, allowing decision makers to see the true value of each marketing effort.

As a result, Jet.com saw a 23% increase in new customer activations and a 24% drop in cost per new customer activation. Now the company has the insight into which aspects of their marketing campaigns bring new activations and can regroup their marketing actions in line with that insight. This allows the company to automate their budget decisions and expand their campaigns.

Multiple Facets of KYC Strategies with SAP Hybris Marketing Cloud

As you can see, SAP Hybris Marketing Cloud comes as one of the most powerful tools for KYC campaigns out there. Brands can benefit by streamlining their marketing and sales operations to achieve more conversions, sales, and returning customers, many of whom become genuine brand ambassadors along the way.

In their turn, customers can get a better experience overall, benefit from targeted and relevant campaigns, enjoy straightforward reward schemes, and feel valued on the whole, which stimulates organic engagement.