Customers are getting more informed and connected by the hour. In order to upsell them, you need to first know your customer to create highly customized marketing micro moments that are memorable and make the customer not only stay but also come back, share and advocate for your brand. In this article we look at how SAP Hybris Marketing Cloud can help you harness your KYC strategy to create successful marketing campaigns for the connected client in the digital age.
Forrester researched 40 organizations of different types, and SAP Hybris came out on top as a market leader because it helps achieve a ROI of 307% on the SAP Hybris Marketing Solution, as well as $23.5 million benefits and payback in less than a year.
Marketing campaigns using SAP Hybris produce better results, according to Forbes, with six times faster sales inquiries processing times, and 2-3 times faster marketing campaigns preparation times. Experts also cite easy to use and more progressive tools as well as more out-the-box features for the same buck when compared to competition.
Using SAP Hybris Marketing Cloud you can achieve these key marketing campaign objectives:
Let’s look at five examples of SAP Hybris Marketing Cloud tools application areas helping users reach their main KYC goals.
SAP Hybris helps you learn customer behavior and personalize experiences and engagement for long-lasting relationships. With a solution like that you are able to gather data from dozens of systems to have a single view of the 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 about the brand, with data on positive vs. negative reactions. You can choose a specific period to analyze customer sentiments and tweak your actions accordingly. Also you can view an average sentiment score and overall brand appreciation of your target audience.
It’s also very important to target negative interactions and research them properly to provide timely and efficient feedback. You can pinpoint an individual post that generated negative feedback for a particular customer and provide a proper response. This allows brands to interact intelligently and turn unhappy customers into returning brand ambassadors.
Case Study: The NHL is using SAP Hybris to understand and analyze fan behavior, get valuable insights, talk to their fans in a smarter way and personalize engagement every step of the interaction process. By using the suite the NHL launched a new statistics presentation method to provide better experience to fans through relevant filtering, contextualization and history features. Conversion rates and call to action success rates are higher, with visitors to the NHL website increased by 25%, and time spent on the site as well as engagement rates increased by 45%.
Knowing the target audience and crafting personalized messages is very important. Using SAP Hybris Convert helps your customers feel like they enjoy an individual experience every time they interact with the brand. Customer behavior is vital here, just like your reactions and responses.
Using Hybris integration allows you to manage multiwave email campaigns effectively. No more emailing random customers in the dark. It’s easy to create target lists, plan email campaign waves to those who respond and those who don’t with real-time results that are easy to analyze for future campaigns.
Customer profiles allow you to tweak current campaigns, predict campaign outcomes and cancel those that won’t bring the desired results. Also, by harnessing KYC tools, you use channels chosen by the customer, not the other way around.
Case Study: Customers who abandon shopping carts mid-session can be regained and retained. For example, CheapCaribbean.com that sells affordable luxury holiday packages to 1.5 million customers used SAP Hybris Convert to get back customers who abandoned carts. This was done with the help of real-time, multistage intelligent remarketing e-mails that encouraged wanderers to return to their CheapCaribbean.com shopping carts and complete their purchases. This resulted in 8% sales increase and five times more customer conversions with Hybris software when compared to standard e-mail marketing efforts. In the words of CheapCaribbean.com marketing manager Tom Patterson, “SAP Hybris Convert paid for itself after the first week.”
Loyalty programs always work, you might think. Well, not really. In a 2017 McKinsey Quarterly article, we can see proof of customer loyalty becoming increasingly volatile, with 58% of loyalty program participants not even using the programs they are members of. In a 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. A loyalty program that lacks intelligence can destroy reputations and bring company value down. Let’s look at some of the reasons for this.
In the UK alone 46.5 million people, or 92% of all adult population, are signed up for a loyalty program of some sort. Yet 6 billion GDP of rewards are unclaimed because people simply don’t know or care about abstract schemes where point redemption is time-consuming or just unclear. Also, points and bonuses can be totally irrelevant to a particular customer, that’s why knowing you customer is of paramount importance here.
In order for a loyalty program to work you need to first know who you are targeting in a particular micro moment. For example, a frugal customer will gravitate towards these selling points: price, convenience and location. The closer you get to this type of customer, the more you lower the price, the easier you make it to purchase the product or service — the more loyal you make them in the long run. Approach a customer who values social status over everything else with the same offer, and you may lose them forever. In this case, what matters is a higher level of membership, a premium loyalty card, a closed social media group, a better store location to brag about and tag in social media posts.
SAP Hybris helps you integrate loyalty programs with your customized commerce and marketing operations solutions easily. Thanks to Hybris developers, it’s easy to set up rules to reward positive online advocacy in a relevant way, group brand advocates by levels and automatically give points out for ratings, referrals and reviews as well as bringing in new customers. This empowers you with tools to continually engage customers and turn them into brand advocates.
SAP Hybris lead management tools are ready for the digital world where the customer feels rewarded, important and influential in every interaction in return for data that helps you build even more intelligent marketing campaigns. The solution lets sales people use marketing insights to get and nurture, organically transferring them into the hands of sales people.
SAP Hybris brings sales and marketing together to grow customers and accrue more revenue. Sales people can benefit from detailed customer profiles and relevant context by using intuitive lead management dashboards. Tracking benchmarks and KPIs is user-friendly too. The solution also boasts stress-free third-party tools integration and complements SAP Hybris Cloud for Customer with out-of-the-box features.
The solution allows sales representatives to narrow the selection of your leads, filter them, select a lead and display contents like company name, contact name, qualification level, activities listed on the lead, etc. They can choose to gather information on the lead or call the lead switching to a mobile device. While on the call, there is an option to make notes about customer’s needs, requests and expectations in the call log. By getting more details it’s possible to narrow down the most desired products or services for this customer and update the lead. With a clear bird’s eye view of the leads, sales people can generate engagement scores, create lead statuses, convert leads to opportunities and start grooming them.
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 you can gage your marketing efforts easily and build intuitive campaigns in the future.
Hybris development using SAP Hybris Marketing Attribution Software allows you to have a single view of all your channels and touchpoints, discovering what elements allow you to convert your audience into paying customers, and what elements should be discarded since they are not bringing desirable results.
You can finally affectively organize and manage siloed, unstructured, scattered, and inaccurate data. Hybris implementation allows you to measure marketing activities and impact on customers allowing you to respond individually, react intelligently and predict smartly. The solution unites customer, marketing and media data into a single view so you can clearly see how each touchpoint is performing.
All your activities are visualized to capture and enrich data, eliminating discrepancies. Hybris consultants measure marketing activity impact by using machine learning. The tech behind it is founded on collaborative game theory suggesting action outcomes on individual customers before they happen. Predictive dashboards allow you to anticipate how new and existing customers will react to each action, so you can decide where to invest and where to minimize spending. This translates into more precise predictions and higher ROI. Reviewing results and measuring success allows you to optimize already launched campaigns and build smarter ones in the future.
Case study: Jet.com wanted to grow its customer base, maximizing marketing campaign efficiency, increase sales and optimize its 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. Integrating the SAP Hybris Customer Attribution model was much faster and more accurate than that of competition. Multitouch attribution was introduced to Jet.com while all marketing partners were being measured and optimized. As a result, Jet.com saw a 23% increase in new customer activations and 24% drop in cost per new customer activation. Now the company has insight into which aspects of the marketing campaign bring new activations and plans to regroup their marketing actions in accordance with the findings. This allows the company to automate budget decisions and move to a greater scale with its campaigns.
As you can see, everyone benefits from SAP Hybris Marketing Cloud campaigns combined with KYC best practices. The business benefits by streamlining marketing and sales processes to achieve more sales, conversions and returning customers, acquiring genuine brand ambassadors along the way. Customers get a better overall service, benefit from targeted campaigns that don’t waste their time, participate in easy-to-understand reward schemes and feel valued as a result, providing organic positive engagement. Vendors who customize SAP Hybris Marketing Cloud products get to keep solid long-term clients by providing high quality services and building lasting partnerships.