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Winning in the Age of the Empowered Consumer - Tim Suther, Forrester Marketing Leadership / Customer Intelligence Forum 2012 #FMF12
 

Winning in the Age of the Empowered Consumer - Tim Suther, Forrester Marketing Leadership / Customer Intelligence Forum 2012 #FMF12

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Guest Executive Forum With Acxiom: ...

Guest Executive Forum With Acxiom:
Insight: The New Vision Of Successful Consumer Engagement Strategy

Learn more: http://bit.ly/acxPWPfcxf12

Tim Suther, Chief Marketing Officer and Senior Vice President, Acxiom

Urcil E. Peters, Vice-President, Demand Generation/Customer Intelligence Solutions, Marriott Vacations Worldwide

Today's empowered consumer has virtually unlimited choice and information, creating new engagement patterns. While industry observers agree new strategies are needed, few define the "what" and "how." In this case-study-based discussion, we'll examine the most fundamental element in successful consumer marketing — multidimensional insight. Beyond the overwhelming flow of big data or the narrow focus of today's targeting options, examine how your brand insights can be the genesis to focus on the consumer, not the channel or campaign.

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    Winning in the Age of the Empowered Consumer - Tim Suther, Forrester Marketing Leadership / Customer Intelligence Forum 2012 #FMF12 Winning in the Age of the Empowered Consumer - Tim Suther, Forrester Marketing Leadership / Customer Intelligence Forum 2012 #FMF12 Presentation Transcript

    • WINNING IN THE AGE OF THEEMPOWERED CONSUMER…GAMECHANGERS, IMPERATIVES & OPPORTUNITIESTIM SUTHERCHIEF MARKETING OFFICER, ACXIOMURCIL PETERSVP OF CUSTOMER INTELLIGENCE SOLUTIONS, MCVIFORRESTER CUSTOMER INTELLIGENCE FORUMAPRIL 2012 ®
    • WINNINGIN THE ERA OF THE EMPOWERED CONSUMER > 2 trends that change everything. > 5 prescriptions that matter. > 3 big potential payoffs. 2
    • WINNINGIN THE ERA OF THE EMPOWERED CONSUMER 3
    • THE ERA OF THE EMPOWERED CONSUMEREmpowered consumers have unlimited choice & information.> New opportunities for engagement.> But, disruptive to loyalty, margins and marketing performance. 4
    • THE ERA OF BIG DATAThe world’s most valuable firms use “big data” to drive value.> But, most value has come at the expense of brands.> In response, brands need to develop and control insight about their customers …or be prepared to be the highest bidder for it. 5
    • WINNINGIN THE ERA OF THE EMPOWERED CONSUMER 6
    • IMPERATIVE: INSIDE OUT> Most marketers underweight “solving for customer value.”> Start “inside”: know customer value, then invest proportionally.> Then “out”: prospect to those who think, look, or act like your best customers. 7
    • IMPERATIVE: YOUR MULTIDIMENSIONAL INSIGHT> No one signal consistently describes or predicts consumer behavior.> Multidimensional insight: “refining across all relevant signals.”> Use an enterprise data management platform to activate & evaluate signals at scale.
    • IMPERATIVE: OUTSIDE IN> New consumer experiences & interfaces create new engagement opportunities...and a wealth of interest & intent data.> If used only online, digital data reaches a fraction of its potential.> Also use digital data to optimize traditional CRM and media weighting & placement.
    • IMPERATIVE: INTERSECTION OF INSIGHTS> Media’s big lie – “I can reach your audience.”> Focus on the intersection of brand customer insight with media contextual insight.> Move beyond the popular (and most expensive).> This, in turn, requires a safe haven and clear data rights. 10
    • IMPERATIVE: TRUST> Your most sensitive data is the most valuable…the temptation to go to the dark side will be great.> Protect your data. Offer a clear consumer value exchange. Provide transparency and choice …or risk the wrath of consumers, regulators, litigators & activists.
    • WINNINGIN THE ERA OF THE EMPOWERED CONSUMER 12
    • THE OPPORTUNITY IS LARGE BEST PRACTICES YOU CAN ADOPT NOW +15-30% +10-15% +5-7% Marketing ROI Customer portfolio value Points of margin> Increase targeting efficiency & > Improve health and breadth of > Increase number of enduringly better attribute results to spend. insight about customers. loyal customers.> Better influence & sense > Acquire & extend more profitable > Effectively cultivate word of consumer behavior. relationships. mouth.> More effective media > Redirect less profitable > Optimize use of pricing substitution. Coherently integrate relationships. incentives. new media. > Establish CLV-oriented KPIs to > De-commoditize intent.> Improve marketing results with guide decision-making. > Minimize auction risk of your trusted partners. > Optimize customer segments & consumer insight.> Recapture value from ad tech multichannel contact strategies. intermediaries. > Increase number of recognizable> Improve test & learn consumers. performance. > Increase ability to recognize> Integrate & rationalize systems to consumers across channels. reduce cost.> Faster time to market.> Real-time personalized offers.
    • WINNINGIN THE ERA OF THE EMPOWERED CONSUMER > Big data & empowered consumers require new strategies. > New strategies should be based in 5 prescriptions. > 3 big payoffs are achievable, but require an enterprise model. 14
    • Introducing….Urcil PetersVP of Customer Intelligence Solutions, MCVI
    • A MARRIOTT VACATION CLUB PERSPECTIVE> Two Way Street. The Brand Defines Customer Experiences and What the Customer Experiences Defines the Brand…> Better Together. Delivering Customer Experiences through other brands.> Vacation Your Way. Balancing Endless Choices with Meaningful Choices> Can You See Them Now? Listen to Customers. And speak to them as if they had a brain, a heart and a purpose> What’s the Big Idea? Don’t use data just to know more use it to imagine more.> “Show Me That You Know Me.”
    • THANK YOU. Questions?© 2011 Acxiom Corporation. All Rights Reserved.