1. The document provides 10 ways for organizations to monetize customer engagement and experience, including incentivizing members to complete profiles, aligning content strategies with recurring revenue opportunities, creating multi-platform engagement, gamifying activities, monetizing mobile apps, implementing cross-selling and up-selling, fostering product reviews, monetizing communities, rewarding engagement, and selling engaged customer lists.
4. 4
Customer Experience is the perception or
emotional experience customers have of all
their interactions with an organization.
5. 5
"Customers who had the best past
experiences spend 140% more compared to
those who had the poorest past experience."
- Peter Kriss, Customer Experience Research Scientist at Medallia and the
Director of Research for Vision Prize, HBR article
8. 8
83% of customers feel positive about an org
that puts to good use the information and data
they hold on their customers.
- Esteban Kolsky, ThinkJar.
Customers are
responsive to
orgs that
generate value
for them.
11. 11
2. Align your content…
…with new and existing
sources of recurring
revenue.
12. 12
Go beyond marketing
benefits of content
generation like brand
awareness.
Find ways to use content
to sell products…
…or make content the
product itself. Eg.
subscriptions for
premium content.
14. 14
3. Create multi-platform engagement
84% of customers have a positive impression of
orgs that communicate in the channel of their
preference.
- Kolsky
17. 17
4. Stimulate gamification
Taking a website, a web app, an online community, etc. –
and integrating game mechanics into it to motivate
participation, engagement, and loyalty.
18. 18
Example –
Gamify fundraising.
Create a framework so
supporters can:
• Launch their own peer-to-
peer fundraising
campaign.
• Showcase sponsors,
assign teams, organize
events.
• Track their results &
compare to other groups.
19. 19
5. Monetize mobile.
McKinsey analysts estimate that app-related
revenues reached $25 billion in 2013 and will
rise to more than $70 billion by 2017.
20. 20
• Make data available through APIs (web
interfaces) — Consider partnering with other
orgs that will leverage your data.
• Revenue models:
• Pay-per-use.
• Subscription model.
• Revenue-sharing.
21. 21
6. Implement cross & up-selling
Cross-Selling adds to 0.2%
of sales (such as displaying
“people who bought this
item also bought”).
Up-Selling (in which visitors
are shown similar but more
expensive products) drives
over 4% of sales.
- Ash Web Studio.
22. 22
Upselling performs
20x better than
cross-selling when it
comes to product
pages.
Cross-selling is much
more effective when
presented on check
out pages versus
product pages.
23. 23
According to Forrester
research analyst
Sucharita Mulpuru,
product
recommendations are
responsible for an
average of 10-30%
of eCommerce site
revenues.
7. Foster product rating and reviews
29. 29
• Recruiting / Jobs
Classified.
• Advertising – Your
products and
affiliates.
30. 30
"Advertisers worldwide will
spend $23.68 billion on paid
media to reach consumers on
social networks this year, a
33.5% increase from 2014.
By 2017, social network ad
spending will reach $35.98
billion, representing 16.0%
of all digital ad spending
globally.“
- eMarketer
31. 31
Marry web stats with
engagement stats to
build strong case for $$$
ad rates.
33. 33
Give discounts to volunteers or
other high engagers as
measured by your engagement
system.
Give a freebie…add an
opportunity to up-sell or
cross-sell.
34. 34
10. Sell your
most engaged
member list…
…or let other
companies
advertise to your
most engaged
customers.