Marketing Beyond Acquisition: Retention and Adoption in Tech

 Auto-transcribed on Wednesday, September 18, 2024.media and text playback available on this page: https://aliceapp.ai/recordings/D6XzOQ5ZY4TiKaFrVLgUyIb7nd8EB9xH

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Speakers:

 Speaker A - 52.77%

 Speaker B - 47.23%

Notes:

- Natasha Janek is a product marketer working on the tech industry here at Salesforce. Make all of your purchasing decisions based on products and services available today. Thank you to everyone joining us here today.- Data cloud unlocks that product adoption data so that you can personalize customer journeys every step of the way. Studies show that free trials boost conversions by 25% to 50%. Here at Salesforce, we love gamifying our onboarding. Post sales is the most important part of the journey when it comes to driving long term customer lifetime value.- Nisha: Nvidia has many product offerings across your gaming business. Can you tell us a little bit about them and your role and maybe some of the objectives that are top of mind for you? Nisha: I lead the lifecycle marketing practice at Nvidia.- Ng: The biggest challenge for us as marketers is providing that differentiated value. We look to educate our free users. What is the perceived value that you will get if you go into a higher tier? We use data on our customers to derive personalized offers.- How are you leveraging journeys and personalization to improve retention and customer experiences? At Nvidia, we've done a lot of work to get to that unified customer profile. For us, sending that message at the right time becomes really critical.- Campaign agents help you save time by being able to scale that one to one personalization. You can learn more about agent force on the campground through demos and ask the expert sessions. Be sure to scan this QR code to check out sessions that are available the rest of the week here at Dreamforce.

[00:00:00]  Speaker A 
Hi everyone, welcome to marketing. Beyond acquisition, retention and adoption in Hitech. My name is Natasha Janek and I'm a product marketer working on the tech industry here at Salesforce. Before we get started, just a quick reminder to please make all of your purchasing decisions based on products and services available today. Thank you to everyone joining us here today. I know there's a lot to see at Dreamforce, so I'm thankful that you're spending some of that time with me. And thank you to everyone who is tuning in online as well. So in our conversations with tech leaders around the world and in our research, many of them are cautiously optimistic about the industry, with about half saying that they rate the industry as healthy. In turn, it's driving a focus on cost efficient growth. And product adoption is a key to getting there. Leaders are also looking to AI to help power productivity across the organization, including marketing. Now, 71% of marketers plan to use predictive or generative AI to automate things like interactions, generate content and measure attribution. Leaders are also not losing sight of your customers. And customers know that you're collecting a lot of data, but uh, they realize that with that, companies aren't quite using their data in a way that benefits them. So how do we keep our customers happy and drive cost efficient growth? Now, many marketers in the room probably spend most of your budget on these first two stages, right? Engagement and acquisition, through advertising and campaigns and webinars and events. But it's important in these phases to be able to hand off that data to your sales teams. So as your leads go to opportunities to customers, everyone has full visibility into your activity. But where we can really drive cost efficient growth is in these next two phases, across product adoption and expansion. Now, everyone's adoption journey and trial journey is going to be different. And so marketers are challenged to deliver an onboarding journey at scale across these different adoption journeys. And, uh, without adoption, we can't even think about expansion and advocacy. So what's stopping marketers? Well, marketers lack unified data. Only 17% of tech companies have fully integrated their data. So your marketers are missing a key insights into product adoption that would allow them to personalize those journeys. And on top of that, almost 40% of marketers can't set up their own campaigns and segments. They have to get technical assistance to do so. So that's just slowing everyone down. And as such, the top challenges for tech marketers include building and retaining trust. Without those insights, how do you deliver personalization in a way that builds relationships with your customers. And in that same vein, how do you measure ROI? Those measurements are inaccurate at best. And finally, we're all facing budgetary constraints. I mean, who here wouldn't want more marketing budget, right? But in lieu of that, if we can make better use of the budget that we are given, we can help drive more growth for the business. So, m today we're going to talk about how marketers can take more ownership of your data and marketing execution. And it all starts with unified data and profiles. So bringing in your telemetry data, your third party apps, your marketing engagement tools to create a full view of every customer that you can actually take action on and deliver that personalized engagement as they're adopting your products at any channel at scale. And on top of that, unlock data is what allows you to power AI across your business so that maybe AI agents can build segments on your behalf. And finally, ensuring that all of that data is shared across sales, customer success, and customer service. Because it takes all of you to work together to drive adoption and retention, we can help build customer trust and boost ROI across every stage of the customer lifecycle, from acquisition to advocacy. Delivering better personalization through unlock telemetry data with data cloud, taking in your data from third party apps and your products to build and retain trust, and then boosting efficiency for every marketer with a platform that's user friendly. And it includes automation and AI to make their jobs more effective. And finally, being able to actually measure all of the great work that you're doing and ensuring that you can get insights into pipeline acv net revenue retention, and hopefully that turns into more budget next year. So let's talk a little bit about how unlocked adoption data can really help you drive retention across every lifecycle stage. So as your customers are browsing your website, being able to tell are they a customer? Are they in a trial, are they a prospect? And deliver those personalized incentives to engage in things like a free trial, which is a great way to drive conversions. Some studies show that free trials boost conversions by 25% to 50%. Now, we could probably have an entire session on a free trial strategy, but we'll talk about a couple of things quickly. The first is, what kind of trial are you offering? Is it gamified, is it a freemium upgrade? And then how complex is your product that's going to help you determine the length of your trial and the types of features that are included? And then finally, leveraging agent force to help segment those customers as they engage in the trial, to put them on an adoption journey and as customers interact with all of your content and your ads and your webinars, you want to be able to bring all of this together and hand it off to your sales teams. So with data cloud we can bring that to your sellers to give them engagement scores so they know when to reach out to customers. And we can all collaborate together with the new Salesforce channels, bringing your CRM data into Slack where customer conversations are already happening. And finally, for those of you who are offering base products that may not require complex implementations, allowing customers to self service in this journey, whether that's on your website or in app. Now arguably, post sales is the most important part of the journey when it comes to driving long term customer lifetime value. Data cloud unlocks that product adoption data so that you can personalize customer journeys every step of the way, depending on which features and products they may or may not have adopted. And it's important to deliver all types of resources to your customers across knowledge base articles, webinars, how to guides and more. And here at Salesforce, we love gamifying our onboarding. How many of you have taken a module on trailhead? We have millions of customers every day engaging in trailhead to onboard themselves and get up to speed on new Salesforce features. Now as customers continue to adopt your products, it's important to nurture those accounts for upsells and cross sells. So luckily, with unlock data, you as marketers have access to open service cases and sales opportunities so you can better target customers. And as they engage with you, those teams have access to your engagement data and you can even leverage AI to assist you in content creation and give your marketers some time back. And finally, this can all be surfaced for sellers as account scores and engagement scores so they can better prioritize their leads and you can help them drive more revenue. Now finally, customer advocacy is so important and this is really where us as marketers need to work with customer success and sales teams to ensure that we are generating case studies and referral programs because some of our products are complex and we need to build trust with our prospects in order to bring them on board. And here at Salesforce we have communities for customers and partners where they can interact with one another and it provides marketers yet another channel through which to engage those customers. Now I know that was a rapid fire, um, onslaught of examples of different ways that product adoption, um, can drive more retention at every lifecycle stage. But we have customers who are already doing that today and we're going to hear from one of them and I'd like to welcome to the stage director of lifecycle marketing at Nvidia, Nisha Ramachandrana.

[00:09:18]  Speaker B 
Thank you, Natasha.

[00:09:19]  Speaker A 
Hi, Nisha. I'm so glad that you could join us today.

[00:09:21]  Speaker B 
Thank you. I'm glad to be here.

[00:09:23]  Speaker A 
Amazing. So, Nvidia has many product offerings across your gaming business. Can you tell us a little bit about them and your role and maybe some of the objectives that are top of mind for you?

[00:09:35]  Speaker B 
For sure. Um, let me start with, uh, the gaming business. We have a lot of product offerings. Let me start with the GeForce, uh, graphic cards, and pretty much everybody here has heard of them, which powers a lot of the gaming laptops, uh, the desktops, RTX, AI PCs. We have gaming tech leading from dlss, um, RTX. We have the G sync monitors, leading to a lot of, um, enablement for creators, for leading from the broadcast app. Uh, there's a lot more that I'm not covering, but definitely gaming is a huge part of what we do at Nvidia, switching, um, to my role at Nvidia. I lead the lifecycle marketing practice at Nvidia, and, um, a lot of what you said just resonated. So my team, uh, leads the adoption and engagement part of the journey that you discussed there. So from the moment somebody enters our, uh, Nvidia ecosystem, uh, we look to ensure that we have the right onboarding journey set up. We are nurturing them. We are providing them with the right offers, ensuring that they are engaged, primarily leading to giving them the best experience that they have at Nvidia, but at the same time, also ensuring, uh, the customer lifetime value is maximized. Uh, so that's kind of a mix of both. Yeah.

[00:10:49]  Speaker A 
Amazing. Well, you're the perfect person to join us for this session today. Um, so many of the attendees here today also have freemium offerings. Can you tell us what tactics you're using to increase your paid subscriptions?

[00:11:02]  Speaker B 
For sure. Um, what I'm going to say is not going to go out of these vaults. I have a love hate relationship with premium offerings. I love them because it gets more and more folks into the ecosystem, gets them to experience us. But then about one, two months down into it, my team gets questions. How many people are upgrading? What's our upgrade percentage? Right? And then that's when it gets you thinking, because freemium offerings are. It's very easy for everybody to get into that. And as customers ourselves, I sign up for a lot of free offers. But the moment they asked me to give me my. Ask me for my credit card, and then I'm thinking, okay, is there value in it for me? So, as marketers for freemium, when it comes to freemium offerings, the biggest challenge for us as marketers is providing that differentiated value. What is that value that we will be able to offer our customers the moment they give us their credit card. Right. Um, we've had a lot of success at Nvidia with the freemium offerings that we have. GeForce now is our primary cloud game, freemium offering. We have games, um, that are loaded onto it every Thursday. We call it GFN Thursday. Uh, and at last count, probably about 1500 plus games on it. So, avid gamers, please go and try it out. Um. Um, um. That's something that you can play anywhere. Um, but going back to your question on where have we had success with, uh, the first thing I would say is we try to kind of. We look to educate our free users. What is the perceived value that you will get if you go into a higher tier? Um, longer session lengths. You have better gpu's that power, the higher sessions. So ensuring that that messaging is crystal clear and upfront, that's the first thing that we do. Uh, the second thing is we allow users, our free users, to give them short time trials on the premium offerings. There's day passes that they can buy. They don't have to invest a lot. It's a small amount of money that they're given. Get into a day pass, experience the higher tiers for shorter durations. So, uh, that's the second thing that we use, and we've seen a lot of success with the data passes. Uh, last but not the least, goes back to your fundamental, um, the concept of data. So we have a lot of data on our customers in terms of what kind of games that they play, what rigs they are on, which games would benefit from actually having a premium tier. So we use all of that to kind of derive personalized offers to ensure that, hey, these are people that we need to kind of sell them. So, um, the freemium offering is, um, is axx vote for all of us marketers. And I think, um, it's a case of continued experimentation, and I think Salesforce has a lot of tools that we leverage for the same.

[00:13:40]  Speaker A 
Absolutely. And it's important to remember how we would react as consumers as well when we're faced with free trials. Um, because I definitely exit sometimes when anyone asks for my credit card. Um, so this session is all about going beyond acquisition, right? So how are you leveraging journeys and personalization, improve retention and customer experiences and maybe what success have you seen for sure?

[00:14:03]  Speaker B 
Yeah, um, many years before when I started the marketing journey, um, one of the profs gave me this thing. Right message, right person, right message, right time. I think that still stands true today. And all of us, uh, pretty much all of you in this room have heard about it. It's been a holy grail for all of us because we've never had the tech to kind of power that to get us to that place. But with all of the advancements, be it AI and, uh, the compute power that we have, we're pretty much close to kind of getting there, I would say salesforce, marketing cloud, the journeys and personalization, that's just been something that's been helping us get to that, uh, to meeting that trinity, I should say. Uh, let's start with the right person. At Nvidia, we've done a lot of work to get to that unified customer profile, merging data, be it digital, your, uh, digital footprint, in product usage. How many, what drivers have you downloaded? What games have you played? Which part of the country are you in? Do you use g sync monitors for the games that you use? So we've done a lot of work to build that unified customer profile. And so that's kind of, uh, a key part of what's helping us derive that right person now going to the right message now we know who the person is, what the profile is, we look to kind of deliver that right message to that person. Journeys and personalization is definitely helping us a lot to get to that delivery at scale because we service a lot of gamers across the world in so many different countries. So that's part two coming to part three, the right time. Um, since, uh, retrading, we service gamers in so many different countries, we service them in different languages. So for us, sending that message at the right time becomes really critical. And that's kind of where sometime optimization comes into play. So sen time optimization becomes critical when you're delivering, want to deliver the message to a person in Singapore at the time he's awake and not at us time, late in the midnight. And also based on maybe a historical action that that person has taken. Does this person, uh, come in, come to our website, did something, and we kind of taken action, but hasn't followed up. So between journeys, personalization and sentiment optimization, we've had, we have seen successes, and I think that's something that we're going to continue to iterate on. I love what Benioff said on the stage where journey builder is going to get merged with flow. So that's going to be the next kind of, uh, iteration for us to see where we can kind of see go with flow builder.

[00:16:23]  Speaker A 
Yes, absolutely. We are all very excited about that. Now, we have all watched Nvidia's success and teams, um, across the business for all of us are being asked to do more with less, um, and marketing is no different. So how are you reporting on your KPI's?

[00:16:41]  Speaker B 
Nvidia is not very different, I should say. We are still being asked to do a lot more with a lot less. Um, for me, it's a mixture of it's trinity, it's three different things. First is ensure your goals are you're aware of what the goals of your marketing campaigns are. If you're setting up a marketing campaign for a upsell or a cross sell, ensure that you have that entire journey being set up from the time the email goes out to tracking where that billing cross sell payment is done. So, um, I've seen instances where we've set up setup campaigns and we go all the time. No, we don't have that particular pixel setup. Right. So ensuring that you're setting up your metrics to kind of measure end to end, be it awareness, be it cross sell upsell, ensure that those are all aligned. The second thing for me is to contextualize the data so you have to understand who your audience is before you can present the metrics to them. Uh, as email marketers, we look at, hey, did that particular graphic in that email actually resonate with the person that we sent? Uh, but when I'm presenting it to a product marketing manager who wants to know, hey, is that my product selling or not? The metrics that are present is going to be completely different. Um, be aware of micro and macro trends within your industry. So contextualize within industry. We see spikes when we send rewards, gaming rewards, and then one year down the line, we are like, there was such a spike in our metrics, what happened at that time? Right. And so going, being able to go back and remember those macro and micro trends and kind of track it over time, that becomes critically important. Last but not the least, ensure that data is always available for everybody to consume. Um, I love intelligence reports because that's what helps us kind of like go back in time, ensure that everybody across has democratic access to data and so they can kind of go in and kind of think about what needs to be done. So for me, it's a mix of all the three. And these are the three things that we have to continuously kind of leverage.

[00:18:37]  Speaker A 
And work on amazing. Um, I hope that everyone here leaves with a little bit, little nuggets of great insights from you, but I want to thank you, Nisha, for joining us today.

[00:18:47]  Speaker B 
Thank you. Thank you for having me.

[00:18:54]  Speaker A 
Now, we couldn't end this session without talking about agent force, right? So, generally available now are campaign agents that will help you save time by being able to scale that one to one personalization and optimize your campaigns on your behalf. That means that your marketers can focus their time on other strategies and capitalize on the campaigns that are working and ditch the ones that aren't. Now, you can learn more about agent force on the campground through demos and ask the expert sessions. And for those of you who want to continue your high tech learning journey here at Dreamforce, uh, be sure to visit our tech demo booth in the industries area and the campground and, um, scan this QR code to check out sessions that are available the rest of the week here at Dreamforce and sessions that will be available on Salesforce plus, thank you all so much for spending some time with me today. I hope you enjoy the rest of Dreamforce.