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IT’S NOT THE PRODUCT –
THE CUSTOMER IS KING




                      Michael Lummus
                      Product Manager
     Acxiom Marketing Database Services
                                          ®
Just 8%
                of their customers agree




Source - Bain
It's Not the Product - The Customer is King (ProductCamp Nashville 2011)
INTERBRAND FINDINGS

> TODAY’S BRANDS CAN’T HIDE ANYTHING FROM
  CONSUMERS
> NOW CUSTOMERS CAN LET THE WORLD KNOW HOW
  THEY FEEL
> TRUST AND CUSTOMER LOYALTY: IN TODAY’S
  MARKETPLACE, THESE ARE THE WORDS THAT MATTER
  MOST
COCA-COLA: A 124-YEAR-OLD
BRAND STAYS RELEVANT

   “Now information flows in many
   directions, consumer touch points have
   multiplied, and the old, one-size-fits-all approach
   has given way to precision marketing and one-to-
   one communications.”
   Joe Tripodi
   Chief Marketing and Commercial Officer
   Coca-Cola Company
FORD: USING CUSTOMER
FEEDBACK TO MAKE A
BRAND COMEBACK
“As a best-case model for how to use social
media effectively, Ford isn’t just soliciting
customer feedback, it is responding to it.”
Interbrand’s Best Global Brands
KEY TRENDS

The rise of the consumer
The demise of the mass market
The loyalty paradox
KEY CONCEPTS

Customer Segmentation


    The Customer
      Lifecycle

   Personalization
       of the
     Experience
SEGMENTATION
IDENTIFYING SEGMENTS:
                    CLOTHING RETAILER
                                                                        •Female
                                                                        •Ages 45-64
          $500
•Male     $450
•Holiday Shopper
          $400                 Friends
    Avg. Spend per Visit




          $350                   and                           Loyal
          $300                 Family                        Shoppers
          $250
          $200
          $150
          $100                 Up and
           $50                 Coming
            $-
                                         •Female
                           0      2         4
                                         •Ages 25-44
                                                         6              8             10
                                         Visits last 12 months
CUSTOMER SEGMENTS:
CLOTHING RETAILER
                  Product Offers:
                    • New seasonal launches
 Loyal Shoppers     • Gift with purchase offers
                  Preferred Channels: All


                  Talking Points:
                    • Financial Incentives (percent or dollar off)
 Up and Coming      • Lower priced, entry level product line
                  Preferred Channels: Online



                  Talking points:
     Friends &      • Holidays reminder campaigns
                    • Online gift selector tool
         Family     • Gift packaging offers
                                                                     11
CUSTOMER LIFECYCLE
THE CUSTOMER LIFECYCLE

>Describes an ongoing relationship
>Forces us to shift to the customer’s point of
 view
>Matches consumer activities with relevant
 products and communications
>Addresses the bias toward new customer
 acquisition activities
OPPORTUNITIES ACROSS THE CUSTOMER
    LIFECYCLE:

                 New Customer       Incliner      Maturity       Decliner      Inactive         Reactivate
Customer Value




                                                                                              Customer Life

                  High-Potential   Driving New   Migrate 80/20   Managing    Outgrowing the
                                                                                                  Winback
                   Prospecting      Occasions    Performance     Attrition      Segment
PERSONALIZED EXPERIENCE
PERSONALIZED SHOPPING EXPERIENCE
EXTREME CONFIGURATION
USER GENERATED CONTENT
MASS CUSTOMIZATION
PREFERENCE CENTERS
THANK YOU.


                    Questions?




Linkedin.com/in/mlummus   Twitter.com/lummusm

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It's Not the Product - The Customer is King (ProductCamp Nashville 2011)

  • 1. IT’S NOT THE PRODUCT – THE CUSTOMER IS KING Michael Lummus Product Manager Acxiom Marketing Database Services ®
  • 2. Just 8% of their customers agree Source - Bain
  • 4. INTERBRAND FINDINGS > TODAY’S BRANDS CAN’T HIDE ANYTHING FROM CONSUMERS > NOW CUSTOMERS CAN LET THE WORLD KNOW HOW THEY FEEL > TRUST AND CUSTOMER LOYALTY: IN TODAY’S MARKETPLACE, THESE ARE THE WORDS THAT MATTER MOST
  • 5. COCA-COLA: A 124-YEAR-OLD BRAND STAYS RELEVANT “Now information flows in many directions, consumer touch points have multiplied, and the old, one-size-fits-all approach has given way to precision marketing and one-to- one communications.” Joe Tripodi Chief Marketing and Commercial Officer Coca-Cola Company
  • 6. FORD: USING CUSTOMER FEEDBACK TO MAKE A BRAND COMEBACK “As a best-case model for how to use social media effectively, Ford isn’t just soliciting customer feedback, it is responding to it.” Interbrand’s Best Global Brands
  • 7. KEY TRENDS The rise of the consumer The demise of the mass market The loyalty paradox
  • 8. KEY CONCEPTS Customer Segmentation The Customer Lifecycle Personalization of the Experience
  • 10. IDENTIFYING SEGMENTS: CLOTHING RETAILER •Female •Ages 45-64 $500 •Male $450 •Holiday Shopper $400 Friends Avg. Spend per Visit $350 and Loyal $300 Family Shoppers $250 $200 $150 $100 Up and $50 Coming $- •Female 0 2 4 •Ages 25-44 6 8 10 Visits last 12 months
  • 11. CUSTOMER SEGMENTS: CLOTHING RETAILER Product Offers: • New seasonal launches Loyal Shoppers • Gift with purchase offers Preferred Channels: All Talking Points: • Financial Incentives (percent or dollar off) Up and Coming • Lower priced, entry level product line Preferred Channels: Online Talking points: Friends & • Holidays reminder campaigns • Online gift selector tool Family • Gift packaging offers 11
  • 13. THE CUSTOMER LIFECYCLE >Describes an ongoing relationship >Forces us to shift to the customer’s point of view >Matches consumer activities with relevant products and communications >Addresses the bias toward new customer acquisition activities
  • 14. OPPORTUNITIES ACROSS THE CUSTOMER LIFECYCLE: New Customer Incliner Maturity Decliner Inactive Reactivate Customer Value Customer Life High-Potential Driving New Migrate 80/20 Managing Outgrowing the Winback Prospecting Occasions Performance Attrition Segment
  • 21. THANK YOU. Questions? Linkedin.com/in/mlummus Twitter.com/lummusm