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Leveraging Marketing Analytics to Improve Customer Experience
 

Leveraging Marketing Analytics to Improve Customer Experience

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These slides were presented in a webinar produced by the Customer Experience Professionals Association (CXPA) for SAS. The speakers were noted marketing strategy thought leaders Brian Vellmure and ...

These slides were presented in a webinar produced by the Customer Experience Professionals Association (CXPA) for SAS. The speakers were noted marketing strategy thought leaders Brian Vellmure and Wilson Raj. Brian Vellmure is Principal & Founder of Innovantage / Initium LLC, and Wilson Raj is Global Customer Intelligence Director at SAS.
The content centered on how the benefits of differentiating through Customer Experience are becoming more known and accepted by organizations worldwide. In the midst of this progress, it's getting increasingly complicated to:
• Understand the customer journey,
• Identify the most impactful actions, and
• Orchestrate improved customer experiences with all the channels and digital interactions that are common today.

In order to thrive in today’s challenging environment, organizations have to deliver meaningful experiences to customers that are facing time, resource and process constraints. At the same time, those customers are interacting with your organization on more channels, and interacting with peers, industry analysts, and the mainstream media.

The speakers discussed how organizations can leverage advanced analytics to sort through the noise and surface the most meaningful insights, which are key inputs to understanding customer behavior and developing rich, rewarding, and profitable customer experiences.

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    Leveraging Marketing Analytics to Improve Customer Experience Leveraging Marketing Analytics to Improve Customer Experience Presentation Transcript

    • LEVERAGING ANALYTICS TO IMPROVE CUSTOMER EXPERIENCE BRIAN VELLMURE - @BRIANVELLMURE WILSON RAJ - @WILSONRAJ #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • POLL QUESTION ANALYTICS MATURITY IN IMPROVING CXP #1 A. Early: We’re just beginning our journey. B. Basic: We’re using basic analytics on customer data How would you e.g. customer interactions/transaction data, and review rate your reports quarterly/annually. organization’s maturity in C. Advanced: We’ve consolidated a near real-time leveraging dashboard of multiple sources of internal and external analytics to data, and use it to adjust/respond to customer improve the preferences on at least a quarterly basis. customer experience? D. Cutting edge: We’re leveraging real-time analytics on unstructured and unstructured data across most channels to dynamically impact our customer interactions and offers in near real-time.#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • POLL QUESTION MERGING EXISTING DATA WITH NEW SOURCES #2 A. Social Media B. Other digital unstructured data If you could gain access to and C. External structured data merge your existing data with D. Sensor data just one of the E. RFID data following data sources by the end F. Geo-location data of the year, which would you choose? G. Audio data H. Video data I. Image data#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • #SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • WAYS TO GET STARTED … ANALYTICS-POWERED CUSTOMER EXPERIENCEC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • BUSINESS IMPACT CUSTOMER EXPERIENCE & FINANCIAL IMPACTS @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • CUSTOMER LIFE NOT THE TRADITIONAL FUNNEL … CYCLE Source: McKinsey’s The Consumer Decision Journey @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • CUSTOMER LIFE DIFFERENT CONTEXT FOR CUSTOMER & FIRM CYCLESource: Forrester Research @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • CUSTOMER VALUE ALIGNMENT ACROSS THE CUSTOMER JOURNEY Source: Forrester Research @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • POLL QUESTION YOUR MARKETING PRIORITIES FOR CXP #3 A. Discover: word of mouth, advertising, distribution, etc. What phase of the B. Explore: content placement, test campaigns, customer journey package design, etc. as you prioritizing as the focus area C. Buy: site/store design, pricing/promos, campaigns, for customer merchandising, etc. experience? D. Engage: Communities, loyalty programs, re- marketing, support, etc. @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • ANALYTICS & CXP ANALYTICS IN CUSTOMER JOURNEY – DISCOVER Customer Goal Analytics Journey Stage DISCOVER Profile customers Segmentation Evaluate Lead scoring prospects Reach right Acquisition models prospects @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • ANALYTICS & CXP ANALYTICS THE CUSTOMER JOURNEY – EXPLORE Customer Goal Analytics Journey Stage EXPLORE Analyze customer Offer/contact response optimization Optimize Marketing mix marketing mix modeling Test marketing A/B, multivariate testing @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • ANALYTICS & CXP ANALYTICS IN THE CUSTOMER JOURNEY – BUY Customer Goal Analytics Journey Stage BUY Predict future Propensity models behavior Target accurately Segmentation, valuation models Personalize Next best action marketing models @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • ANALYTICS & CXP ANALYTICS IN THE CUSTOMER JOURNEY – ENGAGE Customer Journey Goal Analytics Stage ENGAGE Expand breadth of Cross-sell/upsell customer interactions Increase depth of Loyalty models customer interactions Incorporate customer Voice of customer feedback analysis Manage customer Churn/attrition models attrition/defection Maximize customer Lifetime value models value @wilsonrajC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • BRAND 4 C’S OF CUSTOMER CENTRIC BRAND PERFORMANCE Single “experience channel” vs. multi- or cross-channel @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • POLL QUESTION BIG DATA AND CUSTOMER EXPERIENCE #4 Are you able to A. All or most of the time capture structured and unstructured B. Some of the time data and integrate with your C. When we can marketing processes? D. Not currently able to do it @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • DATA STRATEGY A CONNECTED STRATEGY FOR CUSTOMER EXPERIENCE 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 @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • INTEGRATION MAKING ANALYTICS “CUSTOMER & MARKETING AWARE” Strategy & planning Information & analytics Orchestration & interaction Customer experience Setting the right focus 360 view with deep insights Optimized multi channel execution Relevance, Authenticity @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • ANALYTICS + CUSTOMER INTELLIGENT MARKETING WITH BUSINESS RESULTS EXPERIENCE MEDIA EFFECTIVENESS “A global retail bank cut its CUSTOMER CUSTOMER EXPERIENCE online media spend by 10% ENGAGEMENT “You delivered insight in 4 weeks and increased target that 2 Web Analytics vendors failed audience numbers by 500%” “We measured a twofold improvement in customer to give us in 2 years, saving us $Ms Acquisition on unnecessary infrastructure costs” engagement in just 3 months.” Self-service Loyalty TARGETED OFFERS Actionable event triggers will deliver a 1-2% reduction in abandonment that will result in additional revenue of €8Million / year Conversion @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • CONCLUSION KEY TAKEAWAYS • Customer experience is THE strategic DIFFERENTIATOR • Customer experience as ONE STRATEGY across all media focused on the CUSTOMER and CONTEXT • Align customer journey to marketing process “Future-proof your • Construct your marketing process for NOT JUST business” customer impact, but also operational and financial impacts • ENRICH existing data with NEW SOURCES • Move from REPORTING to PREDICTIVE to TRANSFORMATIVE Analytics @wilsonraj#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • QUESTIONS? #sasciC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .
    • CONTINUE THE RESOURCES FOR SLIDESHARE VIEWERS CONVERSATION• Check out this conclusions paper summarizing the discussion: Leverage Marketing Analytics to Improve Customer Experience • Register here: http://go.sas.com/62nxjz• 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/ Brian Vellmure: Value Creator http://www.brianvellmure.com• Follow us on Twitter: @SAS_CI http://twitter.com/SAS_CI#SASCIC op yr i g h t © 2 0 1 2 , S A S I n s t i t u t e I n c . A l l r i g h t s r es er v e d .