51ºÚÁϲ»´òìÈ

Transcript

Good morning. G’day, everyone. I think I know most of the people in this room, but for those of you who I don’t, Mike Lynch, commerce specialist at 51ºÚÁϲ»´òìÈ. I’ve been at 51ºÚÁϲ»´òìÈ for about four years. And as Brett mentioned, Haig, you know, spoke about personalisation and the concept of personalisation, which is really important in today’s consumer. So, I sort of wanted to take you through how 51ºÚÁϲ»´òìÈ sees that today and hopefully get you out the door for a bit of morning tea at around 10.30. In terms of personalisation, hands up in this room who pronounces this word envelope? And who pronounces this word envelope? Bit posher. So… And who sways between the two, depending on the context or who you speak to, because that’s definitely me. You know, another one that we all do is hands up for schedule and hands up for schedule and hands up for a bit of both, because that’s me again. So, today, what I wanted to talk to you about was data and data, because I’m never quite sure, you know, in the context of that. At 51ºÚÁϲ»´òìÈ, we can charge you for either. But I’m joking, joking. This is being recorded. So, I used to work at 51ºÚÁϲ»´òìÈ. See you later. So, you know, what I really wanted to talk about today, though, was, you know, some of the research, the points about people not wanting to make more decisions. So, where personalisation comes in, and not to be ageist on this, you know, as mentioned either, the younger generation have a lot of things going on between TikTok and things like that. But even the older generation, like, you know, me, I’ve got so many things going on, I want somebody to tell me what to buy. I shop at Aldi, not Woolworths, because there’s one type of margarine. You know, you don’t have to have that many choices. But a really interesting piece of research out of 2013, where the average human attention span has gone from 12 seconds to eight seconds, the average goldfish attention span is nine seconds. And, you know, people go, you know, the young generation, everything like that, but as any of you that have spoken to my mum know, she falls very much into the goldfish camp. And so, even, you know, in that older demographic, you do… The concept of personalisation and having that experience really sort of tailored towards you is incredibly important. And that plays out in the numbers. And apologies if you can’t see someone this past the seats, but, you know, we see a 1.5 times improvement in revenue based on personalisation for customers. And things like customer engagement, which is hard to measure, and people returnability, people logging into your site, people, you know, actually going through a full journey on your website, that stuff, you know, is up by two times for sites that are properly personalised. And in terms of, you know, actual value to the business as well, we see a 13% increase in average order value. So, when you tell people… You show them what they want, you put them in a segment, and you actually, you know, show them the things that they’re interested in, not irrelevant things, you’ll see, you know, those revenues really increase. So, you know, everybody speaks about the Google cookie apocalypse and taking third-party cookies out of the market. So, the great thing about commerce information is it is high-intent first-party data. That means that when people… Or data, apologies. That means that when people are logging into the website or when they’re viewing a certain product category, when they’re adding something to a wishlist, even when they’re not logged in, that’s really high-intent data. You know the kinds of things people are interested in. You know, you know, sort of roughly where they’re coming from and that repeatability of the customer coming back and their experience is, you know, really, really important information to be gathering. So, I’m just going to take you through a simple example. So… And based on personalisation, we’re in Envelope University here, which is one of our imaginary customers, and we do work with quite a few of the universities in Australia in commerce for things like course catalogue, short course selling, you know, and other more extensive sort of use cases. So, you know, somebody comes to the website, we don’t know anything about them at this stage, they’re probably going to become a student. We know they’re anonymous and they’re a domestic student based on their IP address. So, we can, you know, sort of see that information. We bring them into what’s called the 51ºÚÁϲ»´òìÈ Experience Cloud. So, even though that student at the moment does not have… They haven’t logged in, they haven’t told us anything about them, we’ve already tagged them with what we call an experience ID, an EC ID. So, I’m able to start tracking information against that as first-party data for my business. So, as the student goes through and starts searching for courses, they’re really interested in cybersecurity. We can tell that from their course searches. They go through to, you know, courses and degrees. They’re actually more interested in the sort of short course side of things. So, still haven’t logged in, we don’t know anything about them, they’re still very blurry to us, but we know this person already has sort of four main attributes and they’ve fallen into some real-time customer segments here. So, what happens when they click through to individual courses and then eight-second attention span, I get a phone call, I walk away from the website and they sort of lost the customer at that stage. But later that week, they come back to the website, whether it be on their mobile or on their desktop, and they come back to the site. And so now I have them tracked against these customer segments, these real-time segments, and what I can do is just place a special offer there to say, if you’re alumni, I want to encourage you to log in, I want to know more about you and everything like that, and I can put in an offer for May that’s coming out of our enterprise offer management platform. This is a university example, but you can see how this would work for a beta-C platform or a beta-B platform as well where you’re selling to consumers. So, what we’ve done is prompted the student to log in and identify themselves in order to get a better deal. So, incredibly imaginatively named Sarah Student logs in and now she becomes way less blurry to us. So, we know she’s Sarah Smith. She is domestic alumni. She’s no longer an anonymous user. She did a Bachelor of IT graduate in the class of 2018. She’s got that cybersecurity intent. She’s got a short course interest. She’s also clicked on the April 2020 for, you know, promotion that we placed in front of her. So, I’m tracking all of that information and she’s fallen into all of those segments. So, I can now action against those segments to message her or to, you know, add an upsell. So, I’m putting an offer in front of people from these course segments to say, instead of paying $495, you get this one for $300 so long as you’re using the May promo. And then, you know, I’m tracking the cybersecurity fundamentals and I’m tracking… You might not see that past the chair, but I’m tracking the course number that she visited and then she gets a phone call again. So, we lose her again, but we’ve captured all of that information and that journey, a little bit like an abandoned cart. You know, you can think of that. So, then, you know, before that promo wants to run out, we want to message Sarah and make sure that, you know, we understand what she’s looking for and we’re able to sort of push information towards us. So, we send out an email using one of our journey management tools, Journey Orchestration. We send out an envelope to University to tell her that she’s got that $300 promo. She’s got to use it by the end of May. We’ve only got two weeks. But, as you see in the messaging, we can also say, like a gym membership, you can use this any time for the next 12 months. So, that high-intent buying, sometimes there is zero cost to fulfil these things because the person, like a gym membership, doesn’t actually use any of your equipment. They don’t show up at gym, but they sign up and pushing them for that promotional sign-up is really important. And then we also have AI-driven product recommendations to sort of say, hey, you’ve got all of these other courses that will be of interest to you based on your customer segment, so we can push that out to you as well. So, Sarah thinks that’s a great deal. She goes through, she registers and she signs up for the course. She may attend, she may not, it’s an online course, but the university’s just made a new student, you know, an alumni student, and then we’re tracking all of that purchase history information against her as well. So, as that… In terms of our example, and we look at what that actually means to happen, the text might be a little bit small for you, but this is sort of the 51ºÚÁϲ»´òìÈ Experience Cloud all across. So, we have data products, content products, obviously commerce as a platform, all driven by our 51ºÚÁϲ»´òìÈ Sensei platform underneath, which is our AI and ML platform. 51ºÚÁϲ»´òìÈ’s one of the biggest employers of AI professionals in the world at the moment, and all of the things like product recommendations and offers, as well as the image manipulation tools that you’d know from a lot of AI tools are available as well. So, what we just saw then was 51ºÚÁϲ»´òìÈ Commerce providing a catalogue list, providing pricing, providing logins and tracking all of that information, and connecting all of that through to our real-time customer data platform, which is where we’re storing that profile, even if it’s anonymised. We’re using 51ºÚÁϲ»´òìÈ Target to put content and offers up in front of that customer, so that can really drive personalisation, A-B testing and things like that. And 51ºÚÁϲ»´òìÈ Journey Optimiser is our graphical email or SMS or other messaging tool where you can sort of say, if a customer comes in and they’re in this profile, then send a message after one hour, do something else, do something else. And all of that is under the experience platform hood, I suppose. So, what we’re capturing there is behavioural events, you know, stuff shoppers do on the website. So, you don’t have to read through them all, but out of the box, we’re capturing all of these, you know, front-end events, viewing pages, clicking on products, completing checkouts, etc. Server-side events are more things like if an order’s status, if an order’s change from fulfilled or shipped or anything like that. Things like order history for the past five years. So, knowing that Sarah was in that graduate program of 2018, we’re able to track all of that information. And then other custom back-office attributes where you can build out your own to say, you know, it might be an inventory change or it might be something happening in the ERP. And then we also capture the commerce profiles, which you definitely can’t read past those chairs, but we’re talking about things like, you know, profile updates. So, I change my address or I change my surname or, you know, change my, you know, birthday selections or anything like that. And then things like email preferences and other account details that you would capture as part of a commerce platform. So, you know, the data that we are taking, we ingest into what we call the 51ºÚÁϲ»´òìÈ Experience Platform Edge and then we can ship it out into those products you saw on the big, wide slide earlier. So, we can push any of that information in real time out to these other parts of the platform with messaging or personalisation. So, the great thing about this solution is it works on any front end. So, you know, talking about native apps, things like 7-11 app or if you’ve built a fancy PWA, a new headless site in the last few years, we can definitely deploy it there. If you’re still running on the Magento or 51ºÚÁϲ»´òìÈ Commerce native PHP application, we can deploy that there. And we’re constantly adding new data types to this and data types to this as well. So, we’re able to, you know, add more and more to those profiles in real time as we go. So, it’s a, you know, it’s a comprehensive platform that we sort of talk about this doing in a round trip where we send data from the commerce platform into the experience cloud and then we push out to commerce. So, things like that real time profile and saying, hey, we’ve got an offer for you today in this hour because you’ve just changed segments. We can push all of that straight back into the front end in real time. We call that audience activation at 51ºÚÁϲ»´òìÈ. That’s great, but that’s got to be a huge project to build all of that out, right? So, I’m glad you asked. It’s actually not. We have two extensions from 51ºÚÁϲ»´òìÈ, similar to the Powerboard extension that was recently launched for CBA. You install two extensions and you configure these things through the UI. So, you’re able to go in and basically enter your API key and tell it where you want your data to go. And then in the audience activation one, you tell it what data you want or the real time segments, and I want to push that back to 51ºÚÁϲ»´òìÈ Commerce. So, some of these projects that we’ve seen customers do custom with other platforms are weeks and months of dev time testing, everything like that. The other great thing about this is it’s all under an 51ºÚÁϲ»´òìÈ SLA. So, it’s all covered by 51ºÚÁϲ»´òìÈ and supported by 51ºÚÁϲ»´òìÈ in one place. So, while you think all of those other components to the platform, they actually become a lot more valuable and less expensive when you can avoid giant projects and be able to do all of these things, get all the updates, and then just have those new data types coming in without developer hours every time. So, the last thing I just wanted to take you with was just what a couple of the things that you can achieve with these. And some of the examples above the line are things like unified profiles, creating those audiences, those segments, based on the real-time interaction with customers. Things like the journey orchestration, where you have simple things like abandoned carts, which seems like a no-brainer these days, but it’s actually quite hard to do, whether it’s through SMS or other messaging. Post-purchase, cross-sells and up-sells, emailing somebody three weeks after they’ve joined a course, or you’ve sold them a product, you know, do you need something else, you’ve fallen into this segment, what else can we send to you? And then things with 51ºÚÁϲ»´òìÈ Target, things like content personalisation. So, I’ve identified that I like the colour blue and I’m shopping in a certain product category, show me images of that. Or my IP address says that I’m coming from Sydney, show me images of that if that’s relevant to my site and my purchase journey. So, it’s a sort of all-in-one package that really lets you personalise for customers a lot and, you know, bring those average order values up and the consumer engagement right up for customers as well. So, with that, I’m going to wind up and hand back over to Brett to get you out to morning tea. Thanks very much, everybody, and come and grab anyone from 51ºÚÁϲ»´òìÈ in the morning tea zone in a couple of minutes. Thank you. APPLAUSE Thanks, mate. Thanks, Mike. Yeah, I definitely feel like it’s getting a lot easier to implement that type of technology. And the CDP space is definitely a lot more complicated. Probably when I first joined 51ºÚÁϲ»´òìÈ, we were talking about the experience platform and what it could do, you know, four or five years ago. But it’s really come a long way. And I feel like, you know, sort of the next generation of commerce experiences, you know, if you’re not sort of looking at a CDP now or maybe you’re implementing one, I’m talking a lot of brands out there now that it’s sort of, you know, top priority is getting that CDP in place, trying to understand, you know, connecting those data sources can be very difficult across applications. So, really interesting from you, Mike, so appreciate that. So, guys, we’re going to kick off just a 15-minute break now for morning tea. We have managed to, thanks to Mike, get back on track for the scheduling. So, thank you, Mike. And look forward to jumping into our next session with the CBA. Cheers.