Accelarating Customer Relationships

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Every Marketer’s Imperatives! • Relevancy and readiness • Customer understanding • Customer experience and relationship • Be ready when the customer is ready • Master especially the internet & mobile channel
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Accelarating Customer Relationships

  1. 1. Accelerating Customer Insights “Marketing so insight-led that it feels like a service” Ajay Kelkar,Cequity
  2. 2. Marketing trends!
  3. 3. The big picture • Three technology trends are disrupting marketing • Media fragmentation • Addressability • Interactivity & Customer control
  4. 4. Trend #3: Interactivity • Permits marketer to engage with audience in two way dialogues • Customer wants to manage her relationship with the brand! Brings in a huge amount of Customer data !
  5. 5. Marketing Imperatives!
  6. 6. Every Marketer’s Imperatives! • Relevancy and readiness • Customer understanding • Customer experience and relationship • Be ready when the customer is ready • Master especially the internet & mobile channel
  7. 7. Every Marketer’s Imperatives!
  8. 8. The Data rich economy! • Almost 60% of GDP is from Services sector – Customer interaction with companies increase! • Growth of “Addressable media” – large customer databases in Banks, Retail &Telecom etc • Availability of rich transactional data – data leading to a “customer conversation” Almost 400 million customers and growing!
  9. 9. 60% Data & 100 % Execution Gartner: Only 20% of enterprise will use more than 50% of the total data they collect to gain competitive advantage.
  10. 10. Why customer marketing • Availability of technology to understand customer behavior – Analytical and Marketing automation tools available – Analytical resources:large talent pool Marketing to a segment of one -now possible!
  11. 11. Why customer marketing • IT environment maturing-customer data integrated in Datawarehouse • Data size multiplying rapidly-a large Retail bank has over 5-7 terabytes of data One view of customer is now possible
  12. 12. Key Business Ideas • Build a core competency in “Data led” marketing • Move towards Web Analytics – Internet is a training ground for “customer pull” channels • Customer behavior changes –spot them as they happen… – Event based IT architecture – “Market so well that it feels like a service”
  13. 13. Start small,use Excel! Move from data to insight to action and close the loop!
  14. 14. Customer marketing simplified! • Keep it simple • Be more Relevant to the customer • Go one step at a time-Shoppers’ Stop started by collecting visiting cards • Don’t led technology overwhelm you-keep investments within limits
  15. 15. Customer marketing simplified! • The most essential resources in any Customer marketing program are – a wealth of hypotheses about the customer! – and a variety of offers to test these hypotheses.
  16. 16. Customer marketing simplified! • Use 4 simple stages to build a Customer marketing program – Stage 1:Establish the “Gold” standard – Stage 2:Create “trip wires” – Stage 3:Manage customer migration not retention – Stage 4:Measure and create a feedback loop
  17. 17. Stage 1:Establish the Gold standard • Define “good” customer behavior – Frequency: walk in twice into my store each month – Value: > Rs x of shopping per month – Width of purchase: ever bought in at least 2 departments over last 3 months – Heavy Credit revolver – Frequent ATM user Do it for the entire Customer lifecycle:Acquisition,activation,Usage etc
  18. 18. Stage 2: Establish “Trip wires” • Trip wires are alarms to signify good behavior changing to bad • Act on customers below your threshold- don’t waste money on customers showing good behavior • Listen to customer data and create marketing programs around it
  19. 19. Stage 3:Manage Customer Migration, Not Retention • Directly tied to customer value • Can represent 2-4 times more value than attrition • Leading indicator of defection
  20. 20. Stage 4:Measure • Constantly measure ROI-use simple “test” and “control” • Active course correction,in a feedback loop
  21. 21. Automating Campaign Management Creating Business impact using Technology!
  22. 22. Technology can spot Event triggers…. Traditional Campaign Management “ Let me find a group of people to talk about it.” “ I have an offer …” offer EBM Campaigns “I have a person with a “ Let me find the best offer change in behaviour that to fit this person ’ s need. ” suggests a need…” offer offer offer offer Source: SAS
  23. 23. Marketing automation 1 2 3 4 5 6 7 8 Integrate Define Define Design Predictive Optimize Execute Monitor w/Channel Objectives Programs Strategies Analysis Contacts Campaigns Results s Global Strategy – Targeted campaigns and right periodic offer Delivery General output files & Responses Target Metrics Electronic offers & Responses Proposed offers for contacts eMessage Rules & Constraints applied Plan Campaign Model Optimize Campaign Customer Value Propensities Optimized Behavior Segments contacts Call Center Contact Preliminary counts events Adapted offers Responses SFA Source: Unica
  24. 24. Best practices for Enterprise Marketing Here’s my take!
  25. 25. Best practice #1 Plan for Change Management • Do not underestimate change management – Get in experienced consultants,who understand • business & technology • Drive changes in structure and incentives • Business and Campaign target alignment Can cost 3 to 4 times the technology investment
  26. 26. Best practice #2 Get top management buy-in • Obtain top management buy in for Customer segmentation – a profitability based framework to plan campaigns
  27. 27. Best practice #3 Get your CFO on your side • Getting top management support for Funding – Selling to the CFO by establishing clear ROI framework
  28. 28. Best practice #4 Don’t forget the power of data quality • Evangelize the data quality movement – good data is the bedrock – P&L heads need to be sensitized
  29. 29. Best practice #5 Think Process efficiency • Rigorous Campaign process – Planning,development,execution(six sigma) – Environment will change-build “privacy views” into your process
  30. 30. Best practice #6 Believe in the power of marketing automation • Automate the Marketing process – use technology to access multiple databases,do the statistical modeling and launch campaigns
  31. 31. Best practice #7 Get your team to understand technology • Technology will enable customer centricity – understanding the language of IT folk • Use Technology to help you to make the “data talk”
  32. 32. Best practice #8 Change talent mix in your marketing team • A mix of Left & Right brain skills – understanding customer behavior needs analytical skills(audience knowledge more than media) – Taking action needs a mix of technology and creative skills
  33. 33. The bottom line • Technology is making marketing a left-brain discipline • And CEO’s are demanding accountability from Marketing & IT spend!
  34. 34. Partnering enterprises to optimize marketing performance
  35. 35. Our Mission To combine data, technology and build actionable analytical marketing services to accelerate ROI-driven, real-time customer-engaged marketing. www.cequitysolutions.com
  36. 36. The Age of Reason is here Keep the faith Thank you

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