Leveraging Marketing Analytics to Improve Customer Experience1. LEVERAGING ANALYTICS TO IMPROVE
CUSTOMER EXPERIENCE
BRIAN VELLMURE - @BRIANVELLMURE
WILSON RAJ - @WILSONRAJ
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8. POLL QUESTION
ANALYTICS MATURITY IN IMPROVING CXP
#1
A. Early: We’re just beginning our journey.
B. Basic: We’re using basic analytics on customer data
How would you e.g. customer interactions/transaction data, and review
rate your reports quarterly/annually.
organization’s
maturity in C. Advanced: We’ve consolidated a near real-time
leveraging dashboard of multiple sources of internal and external
analytics to data, and use it to adjust/respond to customer
improve the preferences on at least a quarterly basis.
customer
experience? D. Cutting edge: We’re leveraging real-time analytics
on unstructured and unstructured data across most
channels to dynamically impact our customer
interactions and offers in near real-time.
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13. POLL QUESTION
MERGING EXISTING DATA WITH NEW SOURCES
#2
A. Social Media
B. Other digital unstructured data
If you could gain
access to and C. External structured data
merge your
existing data with D. Sensor data
just one of the
E. RFID data
following data
sources by the end F. Geo-location data
of the year, which
would you choose? G. Audio data
H. Video data
I. Image data
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31. WAYS TO GET STARTED …
ANALYTICS-POWERED CUSTOMER EXPERIENCE
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32. BUSINESS IMPACT CUSTOMER EXPERIENCE & FINANCIAL IMPACTS
@wilsonraj
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33. CUSTOMER LIFE
NOT THE TRADITIONAL FUNNEL …
CYCLE
Source: McKinsey’s The Consumer Decision Journey @wilsonraj
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34. CUSTOMER LIFE
DIFFERENT CONTEXT FOR CUSTOMER & FIRM
CYCLE
Source: Forrester Research @wilsonraj
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35. CUSTOMER VALUE ALIGNMENT ACROSS THE CUSTOMER JOURNEY
Source: Forrester Research @wilsonraj
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36. POLL QUESTION
YOUR MARKETING PRIORITIES FOR CXP
#3
A. Discover: word of mouth, advertising, distribution,
etc.
What phase of the
B. Explore: content placement, test campaigns,
customer journey
package design, etc.
as you prioritizing
as the focus area
C. Buy: site/store design, pricing/promos, campaigns,
for customer
merchandising, etc.
experience?
D. Engage: Communities, loyalty programs, re-
marketing, support, etc.
@wilsonraj
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37. ANALYTICS & CXP ANALYTICS IN CUSTOMER JOURNEY – DISCOVER
Customer Goal Analytics
Journey Stage
DISCOVER Profile customers Segmentation
Evaluate Lead scoring
prospects
Reach right Acquisition models
prospects
@wilsonraj
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38. ANALYTICS & CXP ANALYTICS THE CUSTOMER JOURNEY – EXPLORE
Customer Goal Analytics
Journey Stage
EXPLORE Analyze customer Offer/contact
response optimization
Optimize Marketing mix
marketing mix modeling
Test marketing A/B, multivariate
testing
@wilsonraj
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39. ANALYTICS & CXP ANALYTICS IN THE CUSTOMER JOURNEY – BUY
Customer Goal Analytics
Journey Stage
BUY Predict future Propensity models
behavior
Target accurately Segmentation,
valuation models
Personalize Next best action
marketing models
@wilsonraj
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40. ANALYTICS & CXP ANALYTICS IN THE CUSTOMER JOURNEY – ENGAGE
Customer Journey Goal Analytics
Stage
ENGAGE Expand breadth of Cross-sell/upsell
customer interactions
Increase depth of Loyalty models
customer interactions
Incorporate customer Voice of customer
feedback analysis
Manage customer Churn/attrition models
attrition/defection
Maximize customer Lifetime value models
value
@wilsonraj
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41. BRAND
4 C’S OF CUSTOMER CENTRIC BRAND
PERFORMANCE
Single “experience
channel” vs. multi-
or cross-channel
@wilsonraj
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42. POLL QUESTION
BIG DATA AND CUSTOMER EXPERIENCE
#4
Are you able to A. All or most of the time
capture structured
and unstructured B. Some of the time
data and integrate
with your C. When we can
marketing
processes? D. Not currently able to do it
@wilsonraj
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43. DATA STRATEGY A CONNECTED STRATEGY FOR CUSTOMER EXPERIENCE
Structured Rational needs
Information,
Transaction, Service
Semi-structured
CxP
Emotional needs
Unstructured Belonging, Identity, Aspiration,
Performance, Knowledge
Sources: Work·Play·Experience I Forrester Blog--Kerry Bodine, April 2, 2012 | SAS
@wilsonraj
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44. INTEGRATION MAKING ANALYTICS “CUSTOMER & MARKETING AWARE”
Strategy & planning Information & analytics Orchestration & interaction Customer experience
Setting the right focus 360 view with deep insights Optimized multi channel execution Relevance, Authenticity
@wilsonraj
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45. ANALYTICS +
CUSTOMER INTELLIGENT MARKETING WITH BUSINESS RESULTS
EXPERIENCE
MEDIA EFFECTIVENESS
“A global retail bank cut its CUSTOMER CUSTOMER EXPERIENCE
online media spend by 10% ENGAGEMENT “You delivered insight in 4 weeks
and increased target that 2 Web Analytics vendors failed
audience numbers by 500%” “We measured a twofold
improvement in customer to give us in 2 years, saving us $Ms
Acquisition on unnecessary infrastructure costs”
engagement in just 3
months.”
Self-service
Loyalty
TARGETED
OFFERS
Actionable event triggers will
deliver a 1-2% reduction in
abandonment that will result
in additional revenue of
€8Million / year
Conversion
@wilsonraj
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46. CONCLUSION KEY TAKEAWAYS
• Customer experience is THE strategic
DIFFERENTIATOR
• Customer experience as ONE STRATEGY across
all media focused on the CUSTOMER and
CONTEXT
• Align customer journey to marketing process
“Future-proof your
• Construct your marketing process for NOT JUST
business”
customer impact, but also operational and financial
impacts
• ENRICH existing data with NEW SOURCES
• Move from REPORTING to PREDICTIVE to
TRANSFORMATIVE Analytics
@wilsonraj
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47. QUESTIONS?
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48. CONTINUE THE
RESOURCES FOR SLIDESHARE VIEWERS
CONVERSATION
• Check out this conclusions paper summarizing the discussion:
Leverage Marketing Analytics to Improve Customer Experience
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Thought Leadership: The Knowledge Exchange
http://www.sas.com/knowledge-exchange/customer-intelligence
Marketing Practitioners’ Views: Customer Analytics Blog
http://blogs.sas.com/content/customeranalytics/
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http://www.brianvellmure.com
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