New Consumer Principle A4


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New Consumer Principle A4

  1. 1. White PaperThe NewConsumer Principle
  2. 2. White Paper The New Consumer PrincipleThe New Consumer card or store card? How many frequent flyer programs countConsumers have changed. Their expectations have evolved you as a member? Do you collect reward points for certainand they have become more demanding. hotel chains, car rental agencies, restaurants, coffee shops or cinema outlets?Some are motivated purely by price, while others remainfiercely loyal to certain brands. Others want to understand Let’s look at your buying patterns. How do you make decisions?“green” or “fair trade” or “cruelty free” aspects of various Where do you do your research? Are you likely to trust aproducts to ensure their purchase decisions are politically brand’s advertising? Or, are you more likely to ask a friend forcorrect. For some, the decision will hinge on the “cool factor” an opinion? Would you accept a recommendation even if theof the brand. “friend” is actually just a distant acquaintance from one of your social networks? If you have a positive (or negative) experience,Many consumers will take advantage of digital channels to will you tell others to inform their decision-making?learn about products or services before making a decisionto purchase, with the transaction occurring in a shop. This Turning to some specific items, how and why did you purchaseprocess is known as ROBO – Research Online, Buy Offline. your home computer, laptop or mobile device? What determinedHowever, today this may be more accurately described as your decision for an internet provider or mobile carrier? HaveREBA – Research Everywhere, Buy Anywhere – as consumers you signed long-term contracts, or have you left yourself openlook to every channel for information and expect to purchase to take advantage of short-term deals and promotions?products and services in the manner most convenient to them. Now that you are digitally connected, which of these devicesGiven these challenges, how can marketers keep pace with do you use to interact with your favourite brands? Likely youthese ever-changing demands of the consumer? Do you use all of them, but it depends on which brand, the type ofhave the tools to deliver the right message, to the right interaction, the time of day, etc, as to which one you use forperson, at the right time, across the right channel? Actually, any particular communication. Do you “opt in” so that certainyou’d better make that channels, since multi-channel is no brands can proactively reach out to you via email, SMS orlonger good enough; marketing messages must be mobile voice call? Do you have login accounts for any websites?orchestrated cross-channel as well. Have you become a brand’s Facebook fan or do you follow them on Twitter? Let’s say these three people visit your website or interact with your brand in What does it all mean? some way... Given everything you know about yourself, how would YOU • Do you know which one is an existing market to YOU? You’re quite demanding, aren’t you? And we’ve customer? If so, do you know if he or only covered a few aspects of the massive global spectrum of she is profitable to your brand? products and services. Have you considered how you would• Do you have an up-to-date record of purchase history? expect various brands to engage with you as an individual?• Do you know what he or she is likely to purchase next? Can you think of examples where brands have got it exactly• If none of them is a current customer, how do you right, and cases where others have completely missed the determine which one(s) exhibit the best characteristics mark? What if you had to develop a marketing strategy not to become target prospect(s)? only for yourself, but multiply it by the millions of consumers• How do you follow-up? in the marketplace?• How do you decide the appropriate messaging?• What channel do you use to deliver it? Well, that’s what marketing organisations must do every single day in order to engage and build relationships with theirYou the Consumer customers. Customer engagement is a proven methodologyThese are just some of the myriad of challenges facing the to answer the questions we posed earlier, and build amarketer. Let’s take another viewpoint. Let’s say YOU are the successful, profitable and long-term relationship withconsumer. Do you participate in brand or store loyalty schemes? everyone, on an individual level.Do you take it to the next level and carry a branded credit 1/2
  3. 3. White Paper The New Consumer PrincipleSo how…? CUSTOMER ENGAGEMENT LIFE CYCLEBy following the key customer engagement principles of UNKNOWN AWARE CONVERSATION CUSTOMER ADVOCATEListen, Learn, Understand, Speak, marketers can engage inmass, individual dialogues, which are appealing and relevantto each individual. By storing and analysing each nugget ofknowledge we find out about someone, marketers build uprounded and detailed “Engagement Personas”. Throughthese engagement personas, marketers are able to developand deliver precise, relevant messaging to each person,across multiple channels. This fundamental shift in the way The Customer Engagement lifecyclemarketers communicate their message is at the heart ofAlterian Alchemy™, which takes the landscape from masscommunication to engagement, from information overloadto conversation, from interruption to interaction, and fromtargeting to collaboration.With Alterian Alchemy™, marketers can Listen by monitoringand collecting interaction data with customers and prospectsacross all channels. They can Learn as they merge data fromall sources and apply analytics to derive intelligent insights.The next step is to Understand the appropriate actions byleveraging these insights to develop interactions usingrelevant content and messaging. The end result is the abilityto Speak in an engaging manner when you deploy relevantinteractions across the appropriate channels at the right time.However, this is not a one-time process. Customer engagementis a lifetime commitment and will be repeated throughout thecustomer lifecycle – from creating awareness, to identifying aprospect and initiating a conversation, to orchestrating theconversion to customer, and even further to the ultimate goalof building loyalty and advocacy.Such a comprehensive approach may look complicated, butAlterian Alchemy™ makes it achievable by providing easy-to-usetools that enable all levels of marketers – with different skillsets and varying levels of expertise – to successfully execute To learn more about this radical solution, get our Alterian Alchemy™ Datasheet by visiting our website at orengagement strategies. With Alterian Alchemy™, it is possible emailing us at info@alterian.comto engage with the most demanding customers on an individuallevel – even those with extremely high expectations for brandperformance – like YOU! 2/2
  4. 4. White PaperCorporate Continental Europe North American Asia-PacificHeadquarters Headquarters Headquarters HeadquartersT +44 (0)117 970 3200 T +31 (0) 35 625 7890 T +1 312 704 1700 T +61 (2) 9968 2449Other ContactsWebsite: www.alterian.comEmail: info@alterian.comTwitter: @AlterianBlogs: www.EngagingTimes.comE info@alterian.comW© Alterian 2010. All trademarks belong to their respective owners.