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Webinar: How social insights are revolutionizing customer experience

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Social media monitoring may have gotten its start as just another weapon in the marketer’s arsenal, but smart organizations around the world have realized that the sky’s the limit when it comes to the benefits that social insights can provide.

That includes the customer life cycle across the brand experience—one of the biggest areas of focus for the modern enterprise.

In these webinar slides, Brandwatch CMO Will McInnes and guest speaker Cory Munchbach from Forrester Research, Inc. discuss how insights & analytics from social media monitoring are acting as a building block to customer experience and business success, including across areas such as:
- Retail
- Call centers
- Digital customer experience
- Product feedback

More info available here: http://bit.ly/1mjESg6

Published in: Social Media, Business
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Webinar: How social insights are revolutionizing customer experience

  1. 1. 1 #brandwatchtips Webinar/ Bigger Than Marketing: How Social Insights Can Revolutionize Customer Experience CMO, Brandwatch will@brandwatch.com Will McInnes Analyst, Forrester cmunchbach@forrester.com Cory Munchbach
  2. 2. 2 #brandwatchtips 2 © 2014 Brandwatch.com Don’t be shy/ We’d love your participation • Ask questions in the session chat • Tweet about out discussion @brandwatch #brandwatchtips A download and recording of the webinar will be made available after the event
  3. 3. © 2014 Forrester Research, Inc. Reproduction Prohibited 3 Source: October 10, 2013, “Competitive Strategy In The Age Of The Customer” Forrester report Michael Porter’s five forces revisited
  4. 4. © 2014 Forrester Research, Inc. Reproduction Prohibited 4 Source: October 10, 2013, “Competitive Strategy In The Age Of The Customer” Forrester report We have entered the age of the customer
  5. 5. © 2014 Forrester Research, Inc. Reproduction Prohibited 5 Customer obsession: A customer-obsessed enterprise focuses its strategy, its energy, and its budget on processes that enhance knowledge of and engagement with customers and prioritizes these over maintaining traditional competitive barriers.
  6. 6. © 2014 Forrester Research, Inc. Reproduction Prohibited 6 Strategic budget imperatives for the customer- obsessed enterprise Spend less on: • Personalization without customer value. • Mass emails. • Inflexible content management systems. Spend more on: • Experience maps for point-in- time relevance. • Touchpoint-specific behavior analysis. Shift spending from general to contextualized customer experiences.
  7. 7. © 2014 Forrester Research, Inc. Reproduction Prohibited 7 The tension that is building between marketing and customer experience will result in a winner — customer experience. Marketing is an important process but will have to take orders from the CX leaders to do the job right in a customer-obsessed world. CMOs who get it will take over the CX role and lead brand and CX together, but those who don’t will have a new boss to answer to. CUSTOMER EXPERIENCE WILL SUBSUME MARKETING.
  8. 8. Marketing is pretending to be customer-obsessed.
  9. 9. © 2014 Forrester Research, Inc. Reproduction Prohibited 9 63% 22% CMOs prioritize acquisition over retention. 69% 36% Segmentation studies are used more than lifetime value. Few marketers use needs-based personas. 8%
  10. 10. Customer experience and marketing need to move in the same direction.
  11. 11. © 2014 Forrester Research, Inc. Reproduction Prohibited 11 CX strategy lacks a grounding Source: January 14, 2014, “The Convergence Of Brand, Customer Experience, And Marketing” Forrester report
  12. 12. © 2014 Forrester Research, Inc. Reproduction Prohibited 12 Responsibility for CX is fragmented
  13. 13. © 2014 Forrester Research, Inc. Reproduction Prohibited 13 Goals and measurement are disconnected Customer experience Marketing Source: November 9, 2012, “Better Customer Experience Correlates To Higher Net Promoter Scores” Forrester report; January 22, 2013, “Embed The Customer Life Cycle Across Marketing” Forrester report
  14. 14. 14 #brandwatchtips © 2014 Brandwatch.com Our customers are experiencing this increasingly loud and confident customer voice
  15. 15. 15 #brandwatchtips © 2014 Brandwatch.com
  16. 16. 16 #brandwatchtips © 2014 Brandwatch.com
  17. 17. 17 #brandwatchtips © 2014 Brandwatch.com How do clients use Brandwatch Use Case Percentage of Total Customers Brand/reputation management 80% Finding influencers/advocates 55% Market research 50% Campaign 45% Crisis management 44% Community management 26% PR 25% Customer services 21% SEO 10% Lead generation 8% Other 4%
  18. 18. 18 #brandwatchtips © 2014 Brandwatch.com 1. “If you’ve got the data, great, let’s look at it, but if we’re going on opinion then let’s go with mine.”
  19. 19. 19 #brandwatchtips © 2014 Brandwatch.com 2. Speed
  20. 20. 20 #brandwatchtips © 2014 Brandwatch.com Faster Cheaper Better
  21. 21. Everyone needs to work with the same definitions in order to align disciplines.
  22. 22. © 2014 Forrester Research, Inc. Reproduction Prohibited 22 Brand definitions Brand [brand] noun: the collection of values, objectives, perceptions, and assets from which the company identity and strategy is built See also brand strategy: a set of guidelines that ensures business decisions and interactions reinforce and convey the brand promise Brand experience: the sum of all the impressions the customer has of and with the brand, including one-way messaging, direct interactions, and peer-to-peer conversations
  23. 23. © 2014 Forrester Research, Inc. Reproduction Prohibited 23 Customer experience definitions Customer experience [kuhs-tuh-mer ik-speer-ee-uhns] noun: the perception your customers have of their interactions with your company See also customer experience strategy: a plan that defines the intended experience and guides the activities and resource allocation needed to deliver an experience that meets or exceeds customer expectations
  24. 24. © 2014 Forrester Research, Inc. Reproduction Prohibited 24 Marketing definition Marketing [mahr-ki-ting] noun: the processes and tactics with which expectations for the customer experience are set and brand messages are distributed
  25. 25. How do they all fit together?
  26. 26. © 2014 Forrester Research, Inc. Reproduction Prohibited 26 The new hierarchy Brand strategy Customer experience strategy Operations: marketing, sales, services Feedback to maintain alignment
  27. 27. © 2014 Forrester Research, Inc. Reproduction Prohibited 27 Customer touchpoints + brand exposures = total brand experience Source: January 14, 2014, “The Convergence Of Brand, Customer Experience, And Marketing” Forrester report
  28. 28. 28 #brandwatchtips © 2014 Brandwatch.com Venn diagram of CX, Social, Marketing CXSocial Marketing
  29. 29. 29 #brandwatchtips © 2014 Brandwatch.com Social insights to CX go across the enterprise Product Development Operations & Distribution Sales & Marketing Customer Service Business Support Demand forecastingCustomer insights Consumer insights Review Data Social selling Consumer insights Marketing campaigns Reputation management Social Customer Care Recruitment Employee issues
  30. 30. 30 #brandwatchtips © 2014 Brandwatch.com Retail example
  31. 31. 31 #brandwatchtips © 2014 Brandwatch.com Retail exampleBanking example
  32. 32. 32 #brandwatchtips © 2014 Brandwatch.com Contact center example
  33. 33. © 2014 Forrester Research, Inc. Reproduction Prohibited 33 Use the customer life cycle to unify marketing and customer experience ENGAGE ASK USE BUY EXPLORE DISCOVER
  34. 34. The enterprise’s view of the phases a customer passes through in the course of an ongoing relationship with a company
  35. 35. ENGAGE ASK USE BUY EXPLORE DISCOVER Customers are exposed to the initial trigger that will lead them to a new need or repeat purchase of an existing need. Customers research your brand and product — and their other options. Customers go through the purchase process and complete the transaction. Customers take possession of their purchase, which includes initial and ongoing impressions of it. Customers reach out to get service or help with a purchase. Customers connect with brands for nonservice reasons across multiple channels.
  36. 36. © 2014 Forrester Research, Inc. Reproduction Prohibited 36 Marketing’s future is building more, and more relevant interactions
  37. 37. © 2014 Forrester Research, Inc. Reproduction Prohibited 37 Marketing’s job in the real time era: spark the cycle MARKETING’S FUTURE IS BUILDING MORE AND MORE RELEVANT INTERACTIONS ENGAGE ASK USE BUY EXPLORE DISCOVER
  38. 38. 38 #brandwatchtips © 2014 Forrester Research, Inc. Reproduction Prohibited 38 Do you have the data you need to sustain the cycle?
  39. 39. 39 #brandwatchtips © 2014 Brandwatch.com Practical Examples
  40. 40. 40 #brandwatchtips © 2014 Brandwatch.com Buy Example
  41. 41. 41 #brandwatchtips © 2014 Brandwatch.com Buy Example Past tense of purchase + synonyms Present to focus on the “now” Get and got next to G2 to avoid irrelevancy Present without “about to” or “going to” will be showcasing purchase intent (“I want to purchase” or “should I get G2 or Nexus”) To avoid: “buy x get x free”
  42. 42. 42 #brandwatchtips © 2014 Brandwatch.com Use Example
  43. 43. 43 #brandwatchtips © 2014 Brandwatch.com Buy Example Positive and negative emotions related to a product or a service Personal pronouns to focus on personal experience Putting the conversation in the context of the G2 product specifically
  44. 44. 44 #brandwatchtips © 2014 Brandwatch.com Ask Example
  45. 45. 45 #brandwatchtips © 2014 Brandwatch.com My LG or my phone in the same sentence as: either mentions like “won’t turn on” OR “hasn’t been functioning properly” OR As: “is sluggish” OR “is dying” OR “can crash any second” Not “how to” to focus on personal questions  “how can I … in my G2”
  46. 46. 46 #brandwatchtips © 2014 Brandwatch.com How do they split out?
  47. 47. 47 #brandwatchtips © 2014 Brandwatch.com ENGAGE ASK USE BUY EXPLORE DISCOVER Customers reach out to get service or help with a purchase. Customers research your brand and product — and their other options. Customers are exposed to the initial trigger that will lead them to a new need or repeat purchase of an existing need. Customers connect with brands for nonservice reasons across multiple channels. Customers take possession of their purchase, which includes initial and ongoing impressions of it. Customers go through the purchase process and complete the transaction.
  48. 48. © 2014 Forrester Research, Inc. Reproduction Prohibited 48 Key Takeaways 1. Brand, marketing, and customer experience are converging – for the customer and the business 2. The Customer Life Cycle is a framework that the whole organization should use to understand the customer 3. Social data can provide critical insights in each phase of the Life Cycle – for marketing and other departments
  49. 49. Thank you Cory Munchbach +1 617.613.6534 cmunchbach@forrester.com Twitter: @corinnejames
  50. 50. 50 #brandwatchtips © 2014 Brandwatch.com Find more content here: brandwatch.com/blog contact@brandwatch.com facebook.com/brandwatch @brandwatch plus.google.com/+brandwatch1

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