Stephanie Horton, Senior Director of Global Consumer Marketing, Commerce at Google
Welcome to Spectrm’s new newsletter, One to One Consumer Marketing.
Every week, we interview a senior CRM or retention marketer at an enterprise consumer brand then write up a summary of the top actionable lessons you can learn from them.
In this edition, we dive into our interview with Stephanie Horton, Senior Director of Global Consumer Marketing, Commerce at Google. Here are the top takeaways from the interview.
1. With so much competition today, retention is key, especially for maturing brands.
Retaining your customers is important — but why? Competition, for one. If you continue to provide them value and solve their problems, you keep them from going somewhere else.
"You have to actually look at how people are using your product, how often they're using your product, how often do they come back, and really start to look at and set measures to make sure that you're retaining them — or at least measuring where there's fall off or where people aren't doing it.
“Like any other company that sells a product or service, retention is really important, especially because now it's not the only game in town. There's other places to do all of these things. So making sure that we're maintaining the best product and making sure that we are understanding what people like, don't like, and trying to fix those pain points and that we're solving pain points is important."
2. Just because your budget is restricted doesn’t mean that your creativity has to be.
Marketers today are all trying to do more with less. But as Stephanie explains, viewing that as an opportunity is when the creativity really begins.
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"As budgets tighten and macroeconomic headwinds happen, your budget is smaller, so you have to do more with less. It's always an opportunity to see how we can work smarter, but it's a challenge when the expectation is to deliver X, but maybe there's less budget to do it.
“If you look at it as an opportunity, you can find ways to break through. That is where you need to be really scrappy and unconventional and look at alternate routes and look at alternate ways to market and not be so traditional in the approach of like, okay, these are the only three ways we can reach people. That is when it's fun to be creative."
?? Tactical advice:
"It is important to meet customers where they are. They shouldn't have to find you. Trying new things and trying out new channels is really important. But you do have to measure efficacy. It's not worth throwing money at something that obviously is not doing anything for you.
“Sometimes it didn't work the first time, but we're like, okay, maybe if we use this approach and then suddenly we're getting a return. Test and learn is the way."
When trying new approaches with your channel mix, look at the efficacy of the channel and if it's right for you. Test and learn, try new things, or try a new approach to methods you thought didn't work.