CRM remains a fundamental business process……which must openly address customer goals via social channels.
A fundamental goal of customer strategy is switch prospects into customers efficiently, minimising attrition From a mass audience who might not be in-market at the time, but might have an interest in brand stories
Valuable content (useful, entertaining etc.) drives positive engagement, conversation and sharing across a mass audiencePositive sentiment helps to translate consideration into serious consideration and conversion amongst prospectsCustomers will feel validated in their own purchase and brand decisions
Understanding what drives your particular audience to create, contribute or spectate in social mediashould inspire every strategy Unlocking the value exchange means creating and distributing content that fulfils these five criteria
Creating a compelling customer experience ‘closes the loop’Delivering on promises is a platform for lasting relationships across repurchase, loyalty and advocacyEnabling customers to share their experiences has a tangible impact on the perception of prospects and audiences within the mass market
Customer Strategy organises a multitude of challenges against 5 core objectivesExamples if needed…1Attract customers - Lead generation;Recruitment;Data capture;Memberships;Product trial;Promotions / Couponing2 Improve the customer’s experience – Registrations; Assisted sale;Inbox-delivery;Open & click-rates;Conversion-rates;Reduce bounce-rate / unsubscribes3Keep current customers, reduce churn – Repurchase; Retention / churn reduction ;Loyalty / programmes;Promoters / recommendations;Advocacy / agents4 Offer new products and services - Cross-sell & upsell;Keep Warm;Welcome;Win back;Product bundling / service extension;Customer co-creation strategies5 Improve customer profitability - Sales conversion;Direct To Customer;E-commerce / f-commerce / m-commerce;Reduce marketing costs;Reduce cost-to-serve;Reduce Call Centre volumes
It is up to 8 times cheaper to retain an existing customer than acquire a new one…and now your existing customers are you most efficient means to entice new customers
The information age has transformed the way in which brands seek to strengthen their customer relationshipsWe have already detailed the role of community, peer-to-peer and content in the mass market
Traditional lead management approaches have adapted due to the ‘socially-infused’ purchase funnelBusinesses are increasingly able to embed new functions into their digital platforms to make them reactive, in real-time, to customer behavior in whichever digital platform or device they use
Control of the conversation has shifted in favor of the customerSmart brands have enabled these conversations to happen and coalesce from recommendations through to collaborative research and development
And “the internet of things” means all these interactions can become connected
CRM has had to evolve because of three driving trendsScreens and pervasive media (that connect on and offline experiences)Social media and earned reachBig data and storage in the cloud
Bringing it all together…What we want is positive influence and advocacy at every step, not as a separate step or as an endgame
The changing media landscape means changing customer dataEmploying ‘big data’ effectively helps brands to address their communities of influence as oneThe top journey illustrates a customer’s journey, the bottom the journey from mass market to brand advocate. We want to identify ways to bring them together.To facilitate this ideal means building and consolidating customer data over time, unlocking customer value in three phases.
Our role is to help clients pivot around their customers in the Information Age – from promise to proof.This doesn’t necessarily mean new thinking for new channels, because old promises of outstanding service and value remain as compelling to customers as ever.
1 It’s tempting for brands to be everything to everyone and always-on – relevance through value exchange is imperative2 People will give permission to share more of their data via more touch points if there is a clear reason-to-believe
3 Businesses need proof in order to grow and embed customer strategies4 Identifying a portfolio of triggers from ‘easy’ to ‘hard’ improves responsiveness of customer behaviour. It builds consistency around a ‘single customer view’
5 Companies don’t need state of the art tools and huge volumes of customer data to start building better relationships6 Harnessing habitual behaviour as a true measure of loyalty
7 Delivering best practise through one channel be it desktop, mobile, email or social8 Integration across the right blend of channels to match customer behaviours and routines
“In this age, companies that thrive are those that tilt their budgets toward customer knowledge and relationships.” Forrester, 2011
Results for RBS:A CRM strategy was fully developed that centralised all RBS investor interactions from multiple data sources, gave a single view of the investor and allowed a structured approach to communicationsThis enhanced the relevancy and proactivity of all communications across multiple channels and Departments
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Whilst vendor-neutral, we have developed partnershipswith industry-leading CRM & Social CRM companiesWe offer our clients a comprehensive suite of SaaS andon premise solutions, including:We have experience with a variety of ESPs, including:
Client case studiesClick to edit Master text styles
HISTORY YEAR-ON-YEAR GROWTH WHAT’S NEXT2008 saw LBi formalise its CRM offering CRM ascended most clients’ agendas in 2011 saw CRM continued growthin response to a growing demand from 2009, with the recession reminding globally: driving broader clientboth existing and new clients to create companies that understanding and penetration across our key markets. Newmore effective ways to manage and managing profitable customer clients included Volvo in Sweden (Myfacilitate conversations and profitable relationships is a business priority. Volvo), Sony Ericsson Xperia (Social CRMrelationships between consumers and programme), Coca-Cola (customer “CRM offers a level of accountabilitytheir brands. engagement platform), Americans Elect favoured by clients when marketing and Bayer Crop Science (full service CRM2009 saw our CRM capability go from budgets are squeezed and greater focus programmes), Lloyds Bank 2012strength to strength; winning new is placed on accountability and return on Trackside (eCRM programme).clients such as BT Tradespace and Barratt investment. “Developments, developing existing client We saw our first CRM award wins for 2010 saw continued, rapid growth of ouraccounts like Electrolux, bringing new Hendrick’s Gin social CRM programme, CRM capability globally: trebling thetalent into the team, and developing a continued interest from clients in team, developing our IP and workingsignificant pipeline of opportunities outsourcing operational management of with new clients such as Invescogoing into 2010. their CRM programmes as well as Perpetual, Royal Bank of Scotland, Lloyds providing CRM and Social CRM solutions. Banking Group, Bristol Meyers Squibb, Johnson & Johnson, Zwistal, Coca Cola, 2012 has seen CRM reach a new level of William Grant & Sons, SABMiller and maturity in the UK – no longer a “service Aldar Properties. extension” but a key part of our strategic capability. The benefits of blended Typical business challenges and briefs Customer Strategy demonstrated on included developing customer retention client accounts like Virgin Atlantic, and engagement strategies, optimising Barclays, Logica and Coca-Cola. existing lifecycle programmes, creating loyalty programmes (brand loyalty vs. reward point schemes) and deploying social CRM programmes focused on building and mobilising brand advocates. Pipa Unsworth Global Head of CRM LBi London 146 Brick Lane London E1 6RU
Oliver.Spalding@LBi.comUK Head of Customer StrategyPipa.Unsworth@LBi.comGlobal Head of CRM
About LBi CRMClick UnsworthPipa to edit Master text stylesGlobal Head of CRMPipa.Unsworth@LBi.com@Peepa
Type Service Description Retaining a customer is on average 8x cheaper than acquiring one.Deliverable Retention Strategy Retention strategy devises ways to motivate repeat purchase. Loyalty programs are structured marketing efforts that reward, andDeliverable Loyalty Strategy therefore encourage, loyal buying behaviour. CRM, evolved. Business functions enabled by a systems andDeliverable Social CRM technology, designed to improve customer responsiveness. CRM technology Identifying the right technology solution to maximise ROI tailoredDeliverable strategy to fit different business models and departmental organisation Multi-channel Evaluating the customer experience to map out touch points andDeliverable strategy define the right channels to affect customer behaviour. A series of coordinated activities designed to enhance the level ofDeliverable Customer service customer satisfaction with a company, product or service.Deliverable Email Effective design of direct communications, technologies andDeliverable Mobile messaging automation to deliver against a variety of business objectives in making the customer’s experience more seamless. Social directDeliverable messaging
Type Service Description Integrating social Helping clients define the business case for extending customerPlug-in customer care care into social media, platforms, governance and stakeholders. What’s Next? Helping clients define the commercial case for more innovativePlug-in Customer workshop customer comms through brand immersion and workshop CustomerPlug-in A process to audit, implement and optimise email communications experience email that improve ROI and customer satisfaction optimisation Defining the role for CRM and high level strategic roadmap throughIP CRM Discovery analysis of intelligence gathering and stakeholder interviews. Capabilities A diagnostic tool that defines the business’s CRM maturity model –IP Assessment Strategy; Customer data; Technology; Marketing; Sales; Services A technology vendor selection process that addresses differentIP Technology Audit types and scales of customer management implementation. A multi-disciplinary workshop process to help explore, refine andIP Visioning Workshop define the CRM vision under one umbrella platform Customer A comms planning tool to help design the desired customerIP Experience Map experience across relevant customer touch points in their lifecycle Roadmap & Project Frameworks and documentation to guide the project fromIP charters definition through to implementation and version control.
Type Service Description Data Quality An audit process to help businesses understand and improve theDeliverable (Audit & Advisory) robustness of their data practices and storage Data Capture The desired state of data capture, form design, data planning andDeliverable Strategy management, data analysis to derive data quality Customer Journey Analysis of platforms, communications, interactions and messagesDeliverable analysis to identify gaps, breaks and opportunities for improved efficiency Customer Analysis of research and big data to develop multipurposeDeliverable Segmentation segmentation that identify distinct target customer groups Multi-channel A three step process to help businesses comply with the latest EUPlug-in Data Compliance legislation across cookies, contact and data collection permissions. Dovetails with the Customer Experience Map to designIP Touchpoint plan interactions, decisions, timings, frequencies and key messages. CRM scenarios &IP Visualising the touchpoint plan from a customer’s point-of-view storyboards Business & contact Defining the business, customer and contact criteria / constraintsIP rules that underpin the CRM or direct communications architecture Creative & action What’s next briefs are informed by the touch point plan or individualIP briefs comms and campaign briefs to create the compelling propositions Key Messages A framework to organise and review multiple key messages,IP matrix propositions and calls-to-action / response handling
Type Service Description Data Cleansing Process to ensure data is accurate, consistent and withoutDeliverable (Enrichment) duplicate copies for purpose of customer intelligence. Communications and data initiatives to effectively convertDeliverable Lead Generation customer interest into a prospect pool for direct communication Programme Focusing on the quality of inputs/outputs alongside the technologyDeliverable Management platform to optimise customer responsiveness across channels Community Ongoing management and mediation of the customer serviceDeliverable Management experience through social media platforms and networks Branded platform A mobile optimised solution for recruiting and engaging customersPlug-in Mobile sampling to trial a new product or service Automated A process to audit, implement and optimise email communicationsPlug-in Ecommerce that drive relevant x-sell and upsell opportunities Repurchase triggersIP KPI framework A bespoke measurement frameworkIP Mechanics design Programme governance, response and redemption handling Test & learn A comprehensive suite of effectiveness test parameters based onIP framework appropriate proving or disproving quantifiable hypotheses Measurement solutions that are able to aggregate and analyseIP Dashboard analytics multiple data streams to inform effectiveness and optimisation Optimisation can be achieved through pre-testing (Beta), live-IP Optimisation tactics testing (in-flight) and post (sunset) e.g. A/B and Multivariate tests
Type Service Description This service is available as consultancy only solution through to fullDeliverable Vendor evaluation pitch support including the management of a full RFP, shortlisting and selection Database Gathering and specifying business and technical requirements toDeliverable development inform the development and implementation of bespoke databases Campaign An end-to-end solution, providing users with a database platformDeliverable management and suite of software tools to enable ongoing campaign provision Software platforms designed to assist departments andDeliverable Automation organizations in simplifying processes by automating repetitive tasks or where there are a significant number of variants Whilst vendor-neutral, we have developed partnerships withIP Partnerships industry-leading CRM & Social CRM companies and experience with most leading ESPs