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A Customer Centricity Paradox - Tim Suther at Digiday Brand Conference #digiday
 

A Customer Centricity Paradox - Tim Suther at Digiday Brand Conference #digiday

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Read the full state of the industry report: http://bit.ly/ACXMdigiwp12 ...

Read the full state of the industry report: http://bit.ly/ACXMdigiwp12

Digital marketers think they’re on the cutting edge of what empowered consumers are doing, but in fact, they can’t see the forest for the trees. While mostly focused on deploying new channels and creating better ROI metrics, most lack a customer centric strategy that creates long term value. Based on new joint Digiday/Acxiom survey results with hundreds of digital marketers, this presentation will reveal the insights from that survey while providing some ideas and strategies that digital marketers can employ to help their organizations extend their brand’s success by leveraging their data assets in this digitally-connected world.

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  • 5 consistently mentioned brands have common themes…Leverage digital mediaCreate enthusiastic brand advocatesFor incredible retentionWhere engagement feels naturalWith fluidity in marketing across channelsAMAZONAmazon, good data tracking and reco engineAmazon - integration of data to provide customer-centric offers across multiple screensAmazon- they recognize customers and meet customer needs wellAmazon. They have loyal customers who keep returning purchase after purchase.amazon - excellent in knowing what their consumers wantAPPLEApple-- built amazing consumer-centric organizations leveraging PR and digital media; enthusiastic brand advocates, incredible retentionApple - they marry product and service seamlessly and add value without ever appearing disruptive or selling.Apple, ability to get across "magic" of products in campaignsZapposZappos is most interesting b/c in addition to performance marketing efforts they relentlessly measure their brand attributes in "delivering happiness" so it all flows from the core brand strategy.Zappos - amazing customer loyalty and retentionZappos. Engagement feels natural; excellent listeners; truly understand audience segments.Starbucksstarbucks--fluidity they show in mktg across channelsStarbucks, their gold card program. Viacom, their focus on data (sell and buy) to drive their businessStarbucks. Personal experience with their top notch CRM/loyalty efforts.Southwest airlines -- regular touches, value customer tools, good reward program for loyalty
  • 70% - LACK OF COORDINATION AMONG ONLINE, OFFLINE AND CHANNELS

A Customer Centricity Paradox - Tim Suther at Digiday Brand Conference #digiday A Customer Centricity Paradox - Tim Suther at Digiday Brand Conference #digiday Presentation Transcript

  • A CUSTOMER CENTRICITYPARADOXState of the Industry Survey Tim Suther, Acxiom Chief Marketing & Strategy Officer September 19, 2012 Digiday Brand Conference, September 2012 © 2012 Acxiom Corporation. All Rights Reserved.
  • 2
  • SURVEY RESPONDER PROFILEA balanced distribution of buy & sell A diverse set of industry marketingside…& job roles: experience is represented: Retail 36% Travel & Entertainment 33% Advertiser & Media & Communications 32% Agency 48% 52% Technology 31% Media, Tech & Other CPG 31% Health Care 24% Automotive 22% Telecom 20% Finance / Retail Banking 18% Insurance 18% Finance / Credit Cards 15% 28% Marketing & Sales Restaurant 15% Finance / Investments 14% Analysis & Audience Mgt Education 12% 72% Government 9% 259 surveyed in August 2012 3
  • CONCERNS & CHALLENGES Marketers top concerns are customer Marketer top challenges are centricity, new media & ROI: consistency, integration & inefficiency…but not privacy: Understanding customers and 51% 37% Providing consistent and relevant engaging them with 6% engagement for customers 7% personal, relevant experiences Adopting new media technology 23% Integrating multiple back-end 26% such as social, mobile and video 17% customer databases 19% 21% Reducing waste and inefficiency 20% Rationalizing budgets with more when targeting and serving the effective ROI metrics 6% 8% right customers and prospectsCollaborating with direct marketing 3% Coordinating the timing and 10% to understand what’s working for cadence of multi-channelthem and how digital can improve 39% 13% communications and feedback results Ensuring privacy and providingAccess to and integrating back-end 1% sufficient notice, choice and 8% customer databases 37% transparency in gathering and 54% using data Most Important Not Important Most Important Not Important 4
  • A CUSTOMER CENTRICITY PARADOX Most highly self-assess their own Yet, few can measure value at customer customer-centric capabilities… level: We have a relentless focus on building customer insights to 48%better understand and recognize high value customer segments We invest and focuse more on 21% 19% acquisition than retentionBoth direct response and digitalmarketers collaborate on timing 14%and creative to more efficiently reach customers across all… 79% We invest and focus more on 14% retention than acquisition Were integrating back-end systems to reduce waste and 5% Have or will have value score for each inefficiency while coordinating multichannel campaigns and… customer 5
  • POOR DATA INTEGRATION ABOUNDSMost poorly integrate data from online Most poorly recognize customers in& offline sources real-time 30% 26% 70% 74% Advanced No/Suboptimal Have channels connected or have a central repository No or outbound or social only 6
  • SILOS ARE RAMPANT…AND IMPEDE CUSTOMER CENTRICITYHow many customer databases need to Biggest barriers to integrated customer-be accessed to integrate marketing? centric marketing: 10+ databases 9% 7-10 databases 6% 24% 4-6 databases 28% 54% 1-3 databases 33% 22%We have everything we need 13% or is already integrated We dont have a customer Data or Technology 11% Resources database Measures & Incentives 7
  • MARKETERS ARE JUST BEGINNING THEINTEGRATION JOURNEYMost marketers blend or borrow A variety of online targeting is beingcreative from online & offline used. Behavioral leads the way:campaigns: Yes, we leverage behavioral 41% and other ad targeting 16% No, we dont do any targeting 19% online Yes, we extend the full capabilities of our database 16% into our online campaigns 84% Yes, we match marketing to 14% site visitors via cookies Yes, we match marketing to Yes No site visitors via cookies, and 11% name and other addressable data 8
  • CUSTOMER CENTRICITYREMAINS AN ATTRACTIVE GOAL Acxiom client experience 9
  • MARKETERS SEEK TO MOVE FORWARDEmphasis shifting to customer marketing Targeting & attribution are top data& branding priorities 25% Addressable data to betterInteracting with our customers understand and reach our 30% where they spend their time 26% audience Loyalty and retention/giving 20% A way to borrow creative to customers more options to 5% coordinate more personalized 2% connect with the brand offers Branding/extending our 21% To better understand results regular branding efforts 17% from campaigns to know 28% whats working 25% Acquisition/direct response 26% All of the above 40% More options to expand 8% targeting beyond acquisition 27% None of the above 12% Most Important Least Important 10
  • SOME BRANDS ARE SEEN AS ROLE MODELSCommon themes… > Engagement feels authentic to brand > Institutional memory enables personalized & integrated experiences. Brands do for, not to, customers > Sustaining loyalty/preference…brands create more value than they capture 11
  • SUMMARYCustomer centricity is an aspirational goal…not yet reality…formost marketers > 70% have no or suboptimal online/offline integration > 80% don’t have or won’t have customer value scores > 74% can’t recognize customers in real-timeMarketers may be underestimating privacy issues/impactTo capture large payoffs, marketers are increasingly focusedupon… > Customer marketing & branding > Targeting & attribution as top data priorities 12
  • THANK YOU. .com/acxiomcorp .com/acxiom .com/company/acxiom Read the full report at: acxiom.com/digidaywp2012© 2012 Acxiom Corporation. All Rights Reserved.