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CI Top Trends Deck

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    CI Top Trends Deck CI Top Trends Deck Presentation Transcript

    • Top Trends In Customer IntelligenceNew Dynamics, New Opportunities February 28, 2012
    • AgendaMeeting Overview Guest Speaker: Fatemeh Khatibloo Key Discussion Topics Senior Analyst Forrester Research Inc. New Trends in Customer Intelligence New Needs for CI Professionals Michelle Boockoff-Bajdek New Breed of Agency - CEA Vice President Client Acquisition & Marketing Key Takeaways 2 Quaero, a CSG Solution
    • New Trends in Customer Intelligence  What challenges do organizations – and specifically CI professionals – face in this new ecosystem?  What trends are driving those challenges?  What do CI professionals need to deliver for their organizations?3 Quaero, a CSG Solution
    • Customer intelligence faces massive challenges Post-recession, budgets are barely holding tight4 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • CMOs are cautious about recovery5 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • And more cautious about spending as a result6 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Customer intelligence faces massive challenges Post-recession, budgets are barely holding tight Emerging media continues to entice7 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Leaders will innovate and expand in digital8 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Customer intelligence faces massive challenges Post-recession, budgets are barely holding tight Emerging media continues to entice The Splinternet just keeps on going9 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • The Internet is entering a new era10 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Consumers access “their” data from everywhere11 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Customer intelligence faces massive challenges  Post-recession, budgets are barely holding tight  Emerging media continues to entice  The Splinternet just keeps on going  Data. Data. Data.12 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • The rules have changed…Data & More Data Customer Touchpoints  Outbound Communications  Interaction Channels  Customer Service  Fulfillment Customer Activities  Research  Purchase / Acquisition  Loyalty Behaviors Data &  Product Reviews More Data  Advocacy  Inquiries  Attrition Social Media Insights  Voice of the Customer  Advocacy / Viral Marketing  Product Insights  New Ideas and Innovations  Customer Service Feedback  Public Relations 13 Quaero, a CSG Solution
    • Intelligence—not data—willbe the difference betweensuccess and failure. Human beings today generate 200 exabytes of information per year - David Siegel Entrepreneur, Futurist, Author “Pull: The Power of the Semantic Web to Transform Your Business”14 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Customer intelligence faces massive challenges  Post-recession, budgets are barely holding tight  Emerging media continues to entice  The Splinternet just keeps on going  Data. Data. Data.  We’ve entered the Age of the Customer15 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • We have entered the “Age of the Customer”16 © 2012 Forrester Research, Inc. Reproduction Prohibited June 2011 ―Competitive Strategy In The Age Of The Customer‖
    • The rules of engagement are changing17 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • The rules of engagement are changing18 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • The rules of engagement are changing19 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • The rules of engagement are changing20 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • The rules of engagement are changing21 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • New Needs for CI Professionals  With this new business imperative, what are your key strategic drivers, needs and pain points?  What areas do CI professionals need help with?  Do you understand the key opportunities and challenges associated with CI?22 Quaero, a CSG Solution
    • What we hear from our clients…Key Needs & Pain Points “How do I manage channel and product “My team is tasked with delivering preferences across media to maximize insight to inform all parts of my business relevance & loyalty?” – product development, sales, service...” “How do I create a 360 view across all “How can I better target customers for channels to determine who my most up-sell/cross sell opportunities…” valuable customers are?” “What strategies do I need to increase “How do I ensure that every customer repeat purchase rates in single and interaction informs the next?” across multiple channels?” Strategy & Analytics Data & Technology Organization & Process 23 Quaero, a CSG Solution
    • CI Professionals need help…  Capture data beyond traditional sources – Unstructured data – Online data – Mobile data  Integrating all of this new data  Making sense of the new data – What’s relevant? – What’s actionable?  Governing the data – Privacy policies – Data stewardship best practices24 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • They also want to talk about…  Turning data into intelligence – In real time (and often need help defining “real time”) – Testing velocity continues to accelerate – Analytics resources are increasingly valuable, and scarce – Cross-channel attribution is no longer a “nice to have” – but they don’t know where to turn, or how to apply it to marketing mix optimization  Applying CI throughout the business – At every interaction point – Advanced advertising – Superior experience – Social intelligence – Beyond marketing… think product development, creative testing, logistics25 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • But too often, their agencies struggle to adapt  Why? Because they are built for yesterday: – Focus on campaigns rather than experiences – Can talk, but aren’t very good at listening or conversing – Are built for waterfall vs. iteration – Treat customers as audience rather than participants – Are mostly “unbundled” – creating disparate skill sets – Have trouble mastering many new specialties at once – Moved down the value chain and rarely distinguish themselves from each other – Can only move as fast as their clients26 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Is Customer Intelligence used throughout the organization – beyond marketing – to drive business decisions?Poll 1. CI is not used in strategic and business planning processes 2. CI plays a role in customer strategy, but is limited to marketing functions 3. CI is systematically used as part of strategic and business planning 4. CI services as the driver of business strategy and planning, championed at the C-level
    • New Breed of Agency – Customer Engagement Agency (CEA)  What is a Customer Engagement Agency?  What capabilities are required?  What is driving the need for this type of partner?28 Quaero, a CSG Solution
    • Customer Engagement Agencies Agencies that focus on defining customer- oriented business strategies, and mapping them to tactics and execution. They help clients maximize customer profitability and optimize customer experiences by applying data and analytics to every interaction.29 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • What Makes a Customer Engagement Agency?  CEA’s will evolve from MSPs, digital agencies & direct marketing agencies  They will move beyond campaign-centric models of marketing, and embrace continuous cycles of customer engagement – They measure performance on the basis of customer value, not just marketing and campaign performance – They recognize that every customer touchpoint is an opportunity to engage, and find ways – through process and technology – to ensure each communication is informed by CI  CEAs are truly channel-agnostic – While not all CEAs will have execution abilities in every channel, they will support each one with insight – They will focus on understanding the interplay between channels, and their engagement strategies will reflect this – They will embrace customer-controlled channels: blogs, reviews, social media, and beyond30 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • What Makes a Customer Engagement Agency?  CEA’s will drive business strategy like their predecessors never could – They will function as “change management” agents, helping clients organize around customer-centricity and channel agnosticism – They will have a seat at the most senior planning table – Their strategies and solutions will inform product development, merchandising, creative testing, customer management, operations, and more  They will earn these rewards by putting skin in the game – Some CEAs will front the investment for new strategy recommendations in exchange for managing the entire program -- messaging, targeting, execution, and analysis – and a sizable cut of the profits – Other CEAs will reduce retainers in exchange for bonuses paid out for business performance – As a result, these agencies will be extremely selective in their willingness to pitch for client work that isn’t a good cultural fit31 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • What Makes a Customer Engagement Agency?  CEAs will reorganize their own firms around the notion of “client-centricity” – They will build integrated teams with deep vertical AND horizontal knowledge – Teams will work collaboratively to ensure accountability – Functionally, teams will work in localized pods or groups – Frequent briefings and meetings ensure that every discipline on the account is aware of new client transitions, changes, goals, and project timelines – Teams will often have an account manager on-site with clients part- or full-time – Compensation will be aligned with client business needs, satisfaction and retention in addition to account profitability – Technology investments will be driven by client needs – CEAs will combine proprietary technology with off-the-shelf solutions as appropriate – They won’t typically compete on the power of their “technology stack,” focusing instead on the results they deliver with their chosen combination of tools32 © 2012 Forrester Research, Inc. Reproduction Prohibited
    • Quaero’s ViewThe Customer Engagement Agency Firms that provide customer intelligence-based solutions that help clients maximize the value of their customer relationships. Focuses on business challenges Customer Intelligence is core Infuses customer intelligence Throughout the entire organization Helps clients engage with customers Over time and across channels/media Acts as the Customer Steward Complementing the Brand Steward Hires and retains top, A-level talent As data scientists and marketing strategists 33 Quaero, a CSG Solution
    • Quaero’s ViewThe Customer Engagement Agency 34 Quaero, a CSG Solution
    • A Framework for CI Professionals The Six Dimensions  CI not widely used to drive strategic planning  CI focused on near-term and opportunistic in nature  Fragmented and widely varying CI processes  Weak operating model – no Fragmented approaches to Strategy basis for prioritizing requests measuring marketing performance and managing scarce resources No closed loop – organization  Reactive CI stance – not providing not tracking and learning from proactive consultative value investments Measurement Process CI Data Organization  Data quality a key issue but often  Many business people don’t no clear accountability have skills to understand and  Disconnected sources requiring manual Technology effectively leverage CI effort to integrate  Hard to find appropriately  Not enough use being made of online skilled CI resources data – significant opportunity  Entrenched legacy culture of  Some good tools in use but  Overall data strategy unclear no standards decision-making  IT / CI operating model still a work in progress 35 Quaero, a CSG Solution
    • Is your organization ready to leverage the strengths of a Customer Engagement Agency? 1. Our firm will be ready to work with aPoll CEA within 1 – 3 years 2. Our firm will be ready to work with a CEA within 12 months 3. Our firm is already working towards building a CEA relationship with an agency partner 4. Our firm isn’t likely to work with a CEA
    • Key Takeaways  If we leave you with nothing else…37 Quaero, a CSG Solution
    • Key TakeawaysIf we leave you with nothing else…Successful Customer Intelligence… Which requires…Permeates an organization from its immediate Strong support at the executive and C-level, aligned metricsefforts to its long-term strategic plans and goals as well as designated CI professionals with clear roles and responsibilitiesIs at the core of successful customer interactions Unified understanding of the customer across the organizationto deliver and derive maximum value as well as a clear strategy that outlines what is expected during and as an outcome of each interactionIs central to strategic planning and drives core Going beyond outmoded operational metrics and pulling databusiness and financial decisions from multiple sources to plan around the customer lifecycleIs supported by the data & technology necessary Centralized customer database that captures all transactionalto generate strategic customer insights and behavioral data to create a singular, comprehensive view of the customerProfessionals need a new kind of help The Customer Engagement Agency – a firm that focuses on defining customer-oriented business strategies and maps them to tactics and execution 38 Quaero, a CSG Solution
    • Thank YouQuestions?