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Harness the Power of Unstructured Data to Enhance Customer Experience
 

Harness the Power of Unstructured Data to Enhance Customer Experience

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Harness the power of unstructured data to enhance customer experience ...

Harness the power of unstructured data to enhance customer experience

The prevalence of online processes for just about everything a company does, along with the advent of social media have created both challenges and opportunities for companies to manage the customer experience. Customers interact with your organization across multiple channels, and the best clues to those experiences can often be locked in unstructured data, such as in internal comment fields, call center transcripts, and even social media posts/tweets.

Using smart analytics, such as text analysis and sentiment analytics, companies can harness this rich store of unstructured data and combine it with traditional data sources for valuable insights. Leading companies like national clothing retailer Chico’s use that data to understand online and in-store behavior, along with many other insights to improve the many ways their customers experience the Chico’s brands. Join Wilson Raj from SAS and Barb Buettin from Chico’s in an engaging discussion of best practices and real-world examples that show the power of unstructured data in enhancing the customer experience.

Speakers:
- Barb Buettin, Director of CRM – Enterprise Information Management for Chico’s FAS
- Wilson Raj, Customer Intelligence Marketing Director, SAS

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    Harness the Power of Unstructured Data to Enhance Customer Experience Harness the Power of Unstructured Data to Enhance Customer Experience Presentation Transcript

    • CxPA WebinarHarness the power of unstructured data to enhance customer experienceBarb Buettin, Director, CRM-Enterprise Information Management, Chico’s Wilson Raj, Global Customer Intelligence Director, SAS #sasci
    • ContentsContext for Unstructured DataData Strategy for Customer ExperienceAbout Chico’s FASIt’s All About the DataA Study of CustomersQ&A
    • Organizations’ Use of Data3
    • POLL QUESTION # 1 Which of the following are you currently collecting as “unstructured” / “Big” data and/or using with analytics today ? A. Structured data (tables, records) B. Semi-structured data (XML and similar standards) C. Complex data (hierarchical or legacy sources D. Unstructured data (text, audio, video) E. Social media data (tweets, blogs, social platforms)4
    • Customer-Centricity: Value, but Barriers • 7 percent felt their organizations do “very well” at bringing together useful customer, product and project data from all sources and sharing it among product development, marketing and customer service staffs • 98 percent say “immediacy” within their organizations is either a “somewhat-critical” or “mission-critical” priority • 87 percent consider it “very important” to share near real- time integrated data — if they had it — between product management, customer service and sales in their organizations. • 66 percent say their organizations either can’t bring together customer, product and project data from all sources and share it or are trying to share but are facing challenges.Coveo Survey: 100+ execs in Argyle Executive Forum 2011 - Customer Care Leadership 5
    • Unstructured Data: A Perspective • All data is “born” unstructured • Adding structure can cause loss of valuable information along the way • Think in terms of “haggling data” • Value of “haggling data in terms of customer insight6
    • Types of Data in Your Business Structured Semi-Structured UnStructured • Relational & • XML • Web Legacy dB • EDI documents • Wikis • Spreadsheets • Documents • Flat files w/defined • Email/Messages record formats • Log files • RSS feeds • Multimedia Static Dynamic/Real-time Corporate • Internal docs • Customer call logs • Marketing • Customer service content notes • Sales reports • Meeting notes • Transcripts • • Internet Analyst Reports Social media • Journals • Chat • Corporate filings • Ratings/Reviews • Press mentions • Breaking news7
    • POLL QUESTION # 2 Are you able to capture unstructured data and integrate with your marketing processes? A. All or most of the time B. Some of the time C. When we can D. Not currently able to do it8
    • Value of Unstructured Data (… or any Data)9
    • Connected Data Strategy for CxP Structured Rational needs Information, Transaction, Service Semi-structured CxP Emotional needs Unstructured Belonging, Identity, Aspiration, Performance, KnowledgeSources: Work·Play·Experience I Forrester Blog--Kerry Bodine, April 2, 2012 | SAS 10
    • POLL QUESTION # 3 Which of the following is NOT a Chico’s FAS Brand? A. Chico’s B. White House | Black Market C. White House D. Soma Intimates E. Boston Proper11
    • Who is Chico’s FAS12
    • 13
    • How we use marketing automation Highlights Segment Catalog Mailings and Differentiate Promotion Efforts for Maximum Impact Make Midpoint Corrections Bring Lapsed Customers Back to Chico’s at Triple the Success Rate of Previous Campaigns Cross-sell Across Brands14
    • Why Implement a New Solution? 10 year old technology on top of an extremely rich set of data – Huge missed opportunity! “Locked” data model – Inability to provide agile marketing or grow with the business Lack of data integration – Marketing is fluid, dynamic, and reactive with sometimes unexpected unstructured data from unexpected sources – Analytics was impossible15
    • POLL QUESTION # 4 What is the biggest challenge you’re facing in your marketing and customer experience efforts? A. Extracting actionable insights from your data B. Driving relevant personalized customer interactions C. Measuring customer experience performance D. Other16
    • What are we looking for? Closing the loop on Direct Marketing Customer Insight -How do we better understand our customers and their behaviors? Marketing Performance Customer Interaction - How can we drive - How can we measure personalized marketing efforts and communications to our immediately act on the customers? results?17
    • Strategic Support - Marketing Customers – Who is she? Competitive Landscape Demographic Online Behavior Overlay Local Markets Trade Area18
    • Strategic Support – Marketing Cross Brand View of our Customers Chicos’ FAS Customer Cross Brand Pollination Give her the extras! Chico’s, SOMA, WHBM, and Boston Proper as Independent Brands19
    • Our Data Systems and Vendor Environment Campaign Customer Response – Internal Customer Enhanced Loyalty Customer Preferences Data Loyalty management Events Campaign management – External Customer Data (Abacus) – Planning & Allocation The future is in relating all of the pieces to each other – Workforce Scheduling in ways that are actionable – Online and Store Shopping Behavior20
    • Strategic Support – Marketing Results Data Integration – Fluid, Dynamic, Reactive FAST – Enable enhanced loyalty programs (CRM ODS + SAS) Analytics – Analytical modeling for more precise communications (allows better targeting) – Predictive! What is likely to be her next purchase? – Internal Cross-brand Prospecting Targeting! – Customer Intelligence • What is relevant to me? • Who DOESN’T need an offer to respond? – Item Brand Distinction – store versus Item Personalization – Location Callouts on specific collateral – Thank You’s! from associate of most recent purchase21
    • The World Is Changing Rapidly World Population 8 7 6 Billions of People 5 4 3 2 1 0 0 200 400 600 800 1000 1200 1400 1600 1800 2000 Year22
    • The Apparel Industry and Communication Technologies Are No Exceptions6000-3000 BC 1000’s -1100’s 1200’s 1300’s 1400’s 1500’s 1600’s 1700’s 1800’s 1900’s 2000’s Weaving Woodblock Buttons Spinning Stocking Flying Jacquard Zipper Nano-Tex printing wheel frame shuttle loom Wheel Sunglasses Salmon- Spinning Power loom skin leather Polyester Writing Paper Jenny Sewing Luminex Nylon Abacus Arabic Printing Water frame machine stockings Speedo LZR numerals press Mechanical Safety pin Bikini Spider-web loom Synthetic silk Spandex Cotton gin dye Coat hanger Home Blue jeans broadband Shopping Ready- bag Commercial made Is there still a place Adding machine clothing Ready- Mall Automobile VoIP WiFi made shoes Mobile 3G for brick and mortar Department store Radio Television WiMAX Web 2.0 Computer stores in this Telegraph YouTube Braille Integrated circuit Facebook Typewriter increasingly digital Calculator Twitter QWERTY Micro- Blackberry keyboard processor HDTV Telephone environment? Light bulb Ethernet Internet Multi-core processing Mobile iPod/iTunes phone iPhone WWW iPad23
    • Supply Chain Actions Start With Customers Traditional view of the supply chain – Merchandise planning – Store clustering and assortment planning – Logistics and distribution capabilities Chico’s FAS view of supply chain – Put the right merchandise in the right store at the right time – Be there when she is there “CUSTOMERS FIRST”
    • We’re Working to Better Understand Our Customers AGE RANGE INCOME NET WORTH Vast majority of 78% of customers 76% of customers customers are baby are above U.S. are above U.S. boomers median income median net worth Customers are a 78% of customers 53% of customers mix of Gen X, Y, are above U.S. are above U.S. and Boomers median income median net worth 60% of customers 80% of customers 71% of customers also shop Chico’s; are above U.S. are above U.S. 40% are Soma only median income median net worth25
    • We’re Working to Better Understand Our Customers Top customers shop and spend several times more than an average customer Retention and reactivation of these customers is paramount Customers are shopping across multiple channels differently Identifying new customer shopping trends to target high-potential future loyalists
    • Customer Behavior Clustering • Clustering of customers into groups based on their shopping behaviors Book Worms – Customer spend – Categories of products Bronze Comfort Seekers – Lifestyle indicators Southern Value Hunters Senior Development • Match back what we know internally about these customers Value Families – Total Chico’s spend – Silver Loyalty and retention Chico’s Loyalist – Outfitting vs. non-outfitting Town & Country – Geography – Income West Coasters – Net worth Gold Urban Chic’s – Age Affluentials27
    • Chico’s Cluster Comparison Affluentials Book Worms Tend to live in the Northeast Tend to live in the South More direct and multi-channel More outlet only Above average customer income Below average customer income Shops and spends more than the Shops and spends less than the average customer average customer Spend proportionately more at Spend proportionately more at Chico’s in these categories: Chico’s in these categories: – Collections – Travelers – Shorts – Jewelry – Sweaters – Accessories28
    • Business Implications • Which new customers have the greatest potential to become our best customers in the future? • Along which lines should we be stratifying our product customizations for the greatest in-store benefit? • What forms of individualized clienteling do our customers want to experience when shopping with us? • How do our customers want their marketing communications from us to be customized?29
    • Other Opportunities
    • POLL QUESTION # 5 Would you characterize the relationship between your business units and IT as a strong, collaborative partnership? A. Strongly Agree B. Agree C. Somewhat agree D. Disagree31
    • Business and Technology Partnership Key to Our Success • Physical proximity to each other • Alignment on strategic discussions and decisions • Prioritization of work is for the greater good Technology Marketing Support32
    • Continue the Conversation Resources for Slideshare Viewers: Check out this conclusions paper summarizing the discussion: Ten Ways to a Customer-Centric, Data-Driven Business Strategy • Register here: http://go.sas.com/bvza68 Engage on our blogs: Thought Leadership: The Knowledge Exchange http://www.sas.com/knowledge-exchange/customer-intelligence Marketing Practitioners’ Views: Customer Analytics Blog http://blogs.sas.com/content/customeranalytics/ Follow us on Twitter: @SAS_CI http://twitter.com/SAS_CI33