LEAP Makes Social Recommendations Drive Engagement
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The document discusses LEAP, a social recommendation and discovery platform that uses word-of-mouth marketing and social signals to directly drive engagement and sales. It aims to anticipate individual consumer needs at scale using mass customization. LEAP analyzes social content, purchase history, loyalty programs and other user data to cluster similar customers and match them with relevant products, driving engagement through recommendations on websites, apps, and other channels. The goal is to improve customer lifetime value by delivering more personalized experiences across omni-channels.
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LEAP Makes Social Recommendations Drive Engagement
- 2. Why LEAP Makes Sense in Today’s World Social Recommendation & Discovery Platform that Leverages the Power of Word-of-Mouth Marketing to Directly Drive Engagement and Sales Mass Customization To be successful and competitive, companies will increasingly need to anticipate and cater to the needs of individual consumers and accomplish this at scale Word-of-Mouth Consumers trust recommendations from people they know and reviews from other customers more than any other form of advertising Focus on Retention The online battleground is shifting from customer acquisition to lifetime value Social & Mobile Signals Social signals and mobile location provide a valuable new window into consumers purchase intent and interest Targeting & Recommendation LEAP uses those new signals combined with data sharing to improve customer engagement and lifetime value by delivering more relevant offers and targeted earned media Create a Profit Center Social programs are already a cost center for brand awareness. Why not leverage the work already being done to turn it into a profit center by directly driving onsite engagement and sales? CONFIDENTIAL - DO NOT DISTRIBUTE
- 3. Engagement and Commerce Will Shift to Where Brand Advertising Is Today Over 20% of All Online Time is Social Mobile Data Usage Growing 50% Per Year 17% 6% 77% Facebook Other Social Networks Other 20% of Internet Traffic Data Sources: Nielsen Social Media Report - July 2012 and StatCounter Global Stats, 5/13 CONFIDENTIAL - DO NOT DISTRIBUTE
- 4. CMO Digital Marketing Will Be Larger than IT Spend by 2017 2.5% of Revenue is Already Spent on Digital Marketing* $7B >$1T web influenced retail sales in 2011 Forrester 51.6% of all retail influenced by 2015 Forrester 62% of online buyers have read product related comments on Facebook $1B 2017 Magazine Publisher Association - Social F5 2012 50+% of magazine readers look to social networks for product advice Social Marketing Platform eMarketer & Gartner Magazine Publisher Association - Social F5 * Gartner - Digital Marketing Spend Report 3/13 CONFIDENTIAL - DO NOT DISTRIBUTE
- 5. Social Networks and Marketing Led Commerce Experiences are Key Areas of CMO Focus CONFIDENTIAL - DO NOT DISTRIBUTE
- 6. Leap Matches User-Generated Content with the Right Products and Right Users to Drive Sales Targeting & Segmentation • Social Login • Loyalty Programs • Commerce Actions Applied Social Content to Clusters of Similar Customers • • • • Social Content Earned Product Catalog • • • Posts & Comments Reviews Support LEAP CONFIDENTIAL - DO NOT DISTRIBUTE Landing Page Mobile App Product Detail Checkout
- 7. Executives Optimized for Social and Mobile Amit Chatterjee CEO E&Y VC Entrepreneur of Year Karel Baloun CTO First senior engineer Christian Galindo Avery Lyford Mitch Roider VP Product VP Bus. Dev. Engineering Vice President Analytics CEO of three venture backed firms xNeXT & Apple engineering CONFIDENTIAL - DO NOT DISTRIBUTE Mike Andrews Chief Data Scientist Ph.D. Physics
- 8. Technologists Strong In Social and Mobile Technical Team Technical Team Karel Baloun Mitch Roider CTO Director of Engineering Technical strategy and leadership Full stack development Christian Galindo Ernst Schoen-Rene VP Product Engineer Product strategy and analytics High volume semantic web analysis Zhi Ma Gerardo Rosciano Engineer Engineer Product data feeds and normalization Product search/ recommendation APIs Mike Andrews Alfred Cuellar Chief Data Scientist Engineer Algorithm roadmap Algorithms in Javascript Navin Goel Maria Celia Engineer QA/Test Backend – Java and PHP Scrum Master and Cross platform QA Corie Johnson Cecilia Albornoz UI/UX Designer Front End Developer Creates and designs LEAP’s experience Front end developmentHTML/CSS/Javascript Bobby Cronkite Kent Shoen Mobile Engineer Advisor iOS development CONFIDENTIAL - DO NOT DISTRIBUTE Monetization
- 9. LEAP Closes the Loop on Personalization For Greater Customer Lifetime Value Earned Media / Social Content Distinctive Competence Recommendation & Discovery Social and Mobile First Omni-Channel Delivery Better Customer Experience and Greater LTV CONFIDENTIAL - DO NOT DISTRIBUTE
- 10. Recommendations Based on an Extended Social Graph Will Improve Relevance CONFIDENTIAL - DO NOT DISTRIBUTE
- 11. • Social Login Clustering precision scaled as known users visit site • Pre-Existing User Profiles Clusters calculated during integration Content Targeting With Access to Pre-Existing User Profile Data, Our Content Optimization Platform Can Perform User Clustering Out of the Box • User Generated Social Content Cultivated as need on ongoing basis • Reviews, Support, and Other Item-Based Content Mappable to product catalog CONFIDENTIAL - DO NOT DISTRIBUTE
- 12. This User Profile Data Is Not Limited to Social, But Can Come from a Variety of Sources Loyalty Programs Customer DB LEAP Purchase History Social Reviews CONFIDENTIAL - DO NOT DISTRIBUTE
- 13. Even When Users Are Anonymous, LEAP Can Make Assignments to Predefined Clusters Based on Log Behavior and 3rd Party Cookie Data Common Log characteristics Known Users LEAP Common Log characteristics Common Log characteristics CONFIDENTIAL - DO NOT DISTRIBUTE Anonymous Users LEAP
- 14. Next Steps Move Beyond Retail Personalization for Media, Advertising, Events, Mobile, etc. Access to Additional Data Sources Social, Customer DB, Loyalty, Third-Party Data Expanded Leveraging of Earned Media Publish and incorporate hard-earned user-generated content Algorithm Development and Testing Instrumentation and analytics for product development CONFIDENTIAL - DO NOT DISTRIBUTE
Notas del editor
- Alt title: Commerce Will Shift to Where Brand Advertising Is TodayAlt title: Commerce Is Rapidly Emerging as the Brand Advertising of TodayData Sources: Nielsen Social Media Report - July 2012 and StatCounter Global Stats, 5/13 >20% of all online time is socialMobile data growing at 50% per yearForrester$1T web influenced retail sales in 2011: Forrester51.6% of all retail influenced by 2015Magazine Publishers Association - Social F5 & Harvard Business Review>20% of all online time is social50+% of magazine readers look to social networks for product advice62% of online buyers have read product related comments on Facebook 5-9% revenue increase for every star on Yelp
- Notion that three distinct trendsSocialMobile – sig data on disparate new platforms, keeping a customer always onBig Data problem to help craft better recommendations Taking social signals and marrying with purchase, web data, and creating a better recommendation set. Because we’re getting external dataNot just about Christian commented on something, but that you’ve encouraged comments and then leveraged that on site to drive salesSo much effort is spent on generating social content, or Earned MediaSocial marketing teams build out Facebook fan pages and try to generate buzz on Twitter. But the focus has been on Awareness -- getting people to like or share your contentSocial traffic as a source of acquisition not the highest quality: there's not much of it, and there's little ROI.Just as word-of-mouth is the best form of advertising in the offline world, we think it makes complete sense on your retail site as well.At LEAP, we use social signals to power our recommendations, but we also use social content to provide a humanizing element and assurance that the customer is selecting the right product. That is, earned media is finally brought lower down the purchase funnel: from awareness and consideration, to a personalized experience that directly affects engagement and conversion.And we deliver across all platforms – be it website, tablet, or mobileThereby driving increased customer LTV
- Loyalty ProgramsSocialReviewsPurchase HistoryRetailer’s Customer Database (search/browse history, explicitly stated information, etc)
- Pew Research Center which says 86% of internet users are anonymous. This may help elevate your value-add, compelling story. http://www.pewinternet.org/Reports/2013/Anonymity-online.aspx