ICEW 2013  Amanda Cromhout - Big Data: the key to making customer-centric changes
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ICEW 2013 Amanda Cromhout - Big Data: the key to making customer-centric changes

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Regardless of the type of organisation, you need to mine your data to provide a truly customer-centric offering. Your data should be at the heart of your product strategy. Amanda encourages ...

Regardless of the type of organisation, you need to mine your data to provide a truly customer-centric offering. Your data should be at the heart of your product strategy. Amanda encourages organisations to explore under the tip of the iceberg, diving deep into the data you hold on them to maximise your sales and profits.

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ICEW 2013  Amanda Cromhout - Big Data: the key to making customer-centric changes ICEW 2013 Amanda Cromhout - Big Data: the key to making customer-centric changes Presentation Transcript

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  • Interna'onal  Customer  Experience   World     12th  –  13th  March,  Maslow  Hotel  ,  Sandton   Amanda  Cromhout   Proprietary  and  Confiden?al.       All  rights  reserved.   Big  Data:    The  key  to  making  customer-­‐centric   changes  
  • Lord  MacLaurin,  former  Tescos   chairman,    famously  told   Dunnhumby     “What  scares  me  about  this  is  that   you  know  more  about  my  customers   a6er  3  months  than  I  know  a6er  30   years!”     Proprietary and Confidential. All rights reserved.
  • Proprietary  and  Confiden?al.       All  rights  reserved.   “This  isn’t  just  about  increasing  response   rates…its  about  rallying  the  en7re   organisa7on  to  be  customer  centric.”  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   “Leverage  data  to  grow   wallet  share  and  purchase   frequency,  shiJ  behaviour   to  higher-­‐margin  products”   “Daily deals can create loyal customers within the correct framework of rewards.” “A great loyalty strategy is also a great company strategy. A best-in-class loyalty program requires deep customer insights and technology” “Leveraging key data insights strengthens multi- dimensional customer relationships” Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Customer  Centricity   The  ul?mate  prize  from  loyalty   Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Iceberg  effect   Proprietary and Confidential. All rights reserved. The  Iceberg     Effect   Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Iceberg  effect   Loyalty  Programmes:   Pick  n  Pay  smart  shopper   BA  Execu?ve  Club   Edcon  Thank  U     Woolworths  W    Rewards   Proprietary and Confidential. All rights reserved. The  Iceberg     Effect   Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Iceberg  effect   Proprietary and Confidential. All rights reserved. Real  Customer     Value       &       Long  Term   Customer  Loyalty   The  Iceberg     Effect   Loyalty  Programmes:   Pick  n  Pay  smart  shopper   BA  Execu?ve  Club   Edcon  Thank  U     Woolworths  W    Rewards   Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Iceberg  effect   Proprietary and Confidential. All rights reserved. covert   The  Iceberg     Effect   overt   Proprietary  and  Confiden?al.       All  rights  reserved.  
  • “Loyalty  programs  are  no  longer  solely  focused   on  points.    Loyalty  is  a  des7na7on  created   through  data-­‐centric  marke7ng   communicaBons  that  lead  to  sustainable  and   measureable  change  in  customer  behaviour.”     Colloquy:  USA  Today  25  March  2011   Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Tradi?onal  Loyalty  Model   Loyalty   Programme   Customer   Loyalty  &   increased   sales   Reason  to   swipe  my   loyalty  card   more   Drives Incentivises + 4-6 %
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Customer   Data   Customer   Insights   Beer  Direct   &  Loyalty   Marke?ng   Produces…. Drives…. Delivers…. Loyalty   Programme   Results in…. Customer   Loyalty  &   increased   sales   + 6 % Tradi?onal  CRM  Model  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   “How  Target  Figured  Out  A  Teen  Girl  Was   Pregnant  Before  Her  Father  Did’  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Target’s  press  statement:     “Like  many  companies,  we  use  research   tools  that  help  us  understand  customer   shopping  trends  &  preferences  so  that   we  can  give  our  guests  offers  and   promo?ons  that  relevant  to  them… Customers  are  always  welcome  to  opt  out   of  our  marke?ng  programmes”                                          Fox  News  Feb  24,  2012  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Customer   Data   Customer   Insights   Beer  Direct   &  Loyalty   Marke?ng   Produces…. Drives…. Delivers…. Loyalty   Programme   Results in…. Product   Strategy   Pricing   Strategy   Distribu?on   Strategy   Customer   Loyalty  &   increased   sales   Customer   Service   Full  Customer  Strategy  Model  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Customer   Data   Customer   Insights   Beer  Direct   &  Loyalty   Marke?ng   Produces…. Drives…. Delivers…. Loyalty   Programme   Results in…. Product   Strategy   Customer   Loyalty  &   increased   sales   Full  Customer  Strategy  Model  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Do  you  want  sales  data   on  baby  carrots  or   customer  data  on  who   buys  baby  carrots?  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Customer   Data   Customer   Insights   Beer  Direct   &  Loyalty   Marke?ng   Produces…. Drives…. Delivers…. Loyalty   Programme   Results in…. Pricing   Strategy   Customer   Loyalty  &   increased   sales   Full  Customer  Strategy  Model  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Customer   Data   Customer   Insights   Beer  Direct   &  Loyalty   Marke?ng   Produces…. Drives…. Delivers…. Loyalty   Programme   Results in…. Distribu?on   Strategy   Customer   Loyalty  &   increased   sales   Full  Customer  Strategy  Model  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Customer   Data   Customer   Insights   Beer  Direct   &  Loyalty   Marke?ng   Produces…. Drives…. Delivers…. Loyalty   Programme   Results in…. Customer   Loyalty  &   increased   sales   Customer   Service   Full  Customer  Strategy  Model  
  • Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Data   Insights   Value   Segmenta?on   Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Global  Retail:    20%  of  revenues  come  from  3%  of  customers     Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Gaming:    58%  of  revenues  come  from  4%  of  customers    
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Love  your  most   profitable  customers  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Inoculate  your  customers   against  the  inevitable   seduc?on   of  a  compe?tor  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Retail:  even  your  best  customers  are  s?ll   spending  at  least  30%  elsewhere     “We  saw  we  don’t  need  more  customers  –   we  need  the  customers  we  have  to  spend   more  Bme  with  us….therein  lies  the  whole   idea  of  loyalty”      
  • No     of   Customers   YOY    change     %    of   customers   %     of     revenue   Average   Customer   Value   Average    No  of     trips   %     Cross   Shopping   AMBASSADORS     205K   6%   35%   $2,526   56   88%   FRIENDS     417k   15%   25%   $897   30   60%   SUPPORTERS     487k   21%   16%   $514   17   42%   POTENTIALS     319k   11%   8%   $362   9   26%   INDIFFERENT     410k   18%   5%   $159   4   8%   ONE-­‐OFF     578k   24%   2%   $50   2   1%   CUSTOMER  VALUE   This  is  for  illustra?on  only  –  not  real  data   Indicates  where  to  allocate  your  marke?ng  budget  based  on  value     poten?al  to  the  business   Easiest  ?pping  point  for  further  incremental  sales     Tradi'onal  Recency,  Frequency  &  Value    
  • Ranking  Order   RFV   NPS   Segment   1   +   +   Advocates   2   -­‐   +   Ambassadors   3   +   -­‐   Func?onal   Repeaters     4   -­‐   -­‐   Detractors   Neutralise  nega?ve  Word  Of  Mouth       U?lise  posi?ve  word  of  mouth   through  social  media  strategy   Overlaying  Net  Promoter  Score     Enables  budget  alloca?on  based  on  both  Value  and  Affinity      
  • People  who  engage  with  brands  via  social  media  demonstrate  a  deeper   emo?onal  commitment  to  those  brands,  and  they  spend   between  20%  and  40%  more  than  other  customers  on  the  products   and  services  offered  by  the  brands,  according  to  a  report  by  Bain  &  Company   Proprietary  and  Confiden?al.       All  rights  reserved.  
  • Proprietary  and  Confiden?al.       All  rights  reserved.   Source:  Social  Media  Consumer  Survey,  (January  2011)  supplied  by  Marke?ngProfs.com  
  • Taking  Customer  Experience  to  the   next  level     ….using  customer  insights  
  • “…  by  using  Clubcard,  we  can  look  at   what  customers  buy  from  us,  what   things  they  like,  and  then  make  an   effort  to  target  adverts  that  are   more  relevant  to  them…..  it  means   we  can  know  our  customers  beer   than  anyone.”  Sco  Deutrom,  MD,  Clubcard  TV  
  • “We’ll  use  Clubcard  data  to  tell  us  what   might  be  relevant  for  our  customers  and   therefore  help  us  deliver  a  more   personalised  service…beer  s?ll  we  can   target  adverts  based  on  what  customers   bought  yesterday,  we  can  show  that  we  are   listening  to  out  customers  in  ‘real’  ?me”     Sco  Deutrom,  MD,  Clubcard  TV  
  • 39  Proprietary  and  Confiden?al.       All  rights  reserved.  
  • What  differen?ates  gilt.com     from  the  rest  is  the     experience       40  
  • “Most  online  shopping  mirrors  brick  &  mortar   stores.     They  are  not  taking  advantage  of  what’s  uniquely   possible  online,  the  heightened  sense  of   entertainment  and  compeBBon.     A  big  part  of  the  Gilt  brand  promise  is  discovery:   You  come  every  day  &  it’s  new  every  day.”     41  
  • How  GILT  uses  VoC     …..everyday   ….in  everything  they  do   42  
  • 1.  Personaliza?on   2.  Merchandising   3.  Segmenta?on   4.  Policies   5.  Loyalty   6.  Social  Engagement   7.  Customer  Service   8.  Launch  of  New  Businesses   43  
  • Thank you email amanda@truth.co.za cell 082 797 7441 website www.truth.co.za @tweetstruth   44