CRM Continuous Optimization
Imagine this: a perfect storm of new Verizon leadership, challenging Wall Street numbers, re-organisations, aggressive goals and more — all equating to extreme pressure to produce results. To remain competitive, Verizon had to drive more online sales than ever, which meant its marketing partners needed to drive customers to Verizon’s website to convert.
But in the digital CRM world, it is a fine balance determining how often (and with what messaging) to email customers without inciting an opt-out and ultimately losing them forever. So when the business required more email to be sent to get more website traffic, Moxie had to get creative to achieve the needed results without requiring large increases in the number of emails a customer receives.
So Moxie created the Continuous Optimization framework — a way of doing business for Verizon that allowed us to test 6.4 times faster, implement tests more efficiently and drive engagement rates up more than 40%. This framework has cemented Moxie as Verizon CRM’s testing partner.
Verizon has a best-in-class, sophisticated digital CRM program. It has a very refined approach to messaging customers — ensuring each touchpoint is valuable to maintain the targetable base, minimise opt-out and drive the highest reach possible.
However, in the competitive wireless landscape, Verizon demanded the email channel to drive an unprecedented level of traffic to its .com site — an objective that is traditionally solved by sending more emails.
However, doing this can drive opt-out and decrease reach. To meet this challenge, Verizon partnered with Moxie to reach its business goals while also optimizing efficiency and minimising the number of extra emails sent.
Moxie has hundreds of automated, always-on email campaigns running on behalf of Verizon. By implementing an evergreen framework for testing and optimising our existing automated programs against open and click, we can effectively drive more .com traffic — faster, easier and without diluting our base.
This required a change in the BAU CRM practices. We not only created an enhanced operational and strategic testing framework, but we also developed a custom technical solution to allow for constant optimization of our automated programs. We call this the Continuous Optimization strategic framework.
The Continuous Optimization framework consists of a set of tools and processes.
Optimization Analysis: Moxie developed a testing framework/guidebook for 1) prioritizing campaigns that will net highest returns, 2) setting performance goals and 3) road mapping test plans. This enabled us to:
Implementation Process: Detailed processes were created and documented to efficiently manage test implementation at all points in the test lifecycle.
Technical Solution: Moxie created a “test valve” that allows the testing of as many variables as needed — while also enabling change management — without automated campaign interruption.
Testing Management Platforms: Moxie developed a series of tools to help manage the program enhancements, including a testing performance dashboard.
With the culmination of all these tools and processes, the framework allows the program to operate much like a factory.
Moxie developed a framework that is:
Scalable – Can be executed across hundreds of campaigns
Flexible – Leverages current creative assets and resources and pivots toward business needs
Transparent – Performance data, statistical analysis, outputs and plans are available in the dashboards
Strategic – Executed on campaigns that have the most significant business impact
Effective – Delivers meaningful performance lift
In the first six months of implementing Continuous Optimization (CO), we have transformed the way Moxie does business with Verizon, leveraging the framework to efficiently optimize programs at scale. We have conducted more than 60 test cycles and over 200 creative variables. From this, we have exceeded the yearly goal for two of the three lifecycles in just six months, tested 6.4 times faster than previously and driving more than a 40% lift in engagement rates.
This program has been so successful in 2016 that Moxie is now expanding the concept to other Verizon lines of business, working with the .com team to further enhance open/click testing to optimize the customer conversion rate on-site.