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10.7.14
The document discusses the increasing importance of analytics in enhancing customer engagement and experience through personalized marketing strategies. It features insights from industry experts and highlights macro trends such as the integration of behavioral data and cross-channel knowledge. The document also illustrates case studies demonstrating the impacts of customer feedback on service improvements and the necessity for companies to adapt their approaches to meet evolving customer expectations.
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10.7.14
- 1. How Marketing CanPower Engagement: Using Analytics to Deepen Customer Relationships #SMTLive
- 2. #SMTLive Thank You toOur Sponsor @SAPCRM
- 3.
- 4. #SMTLive Our Speakers Paul Dunayis an award-winning B2B marketing expert with more than 20 years’ success in generating demand and creating buzz for leading technology, consumer products, financial services and professional services organizations. Paul is the author of five “Dummies” books including Facebook Advertising for Dummies (Wiley 2010), and Facebook Marketing for Dummies 3rd Edition (Wiley 2012). @PaulDunay Swati Sinha is an analytics solution professional, she specializes in sales, marketing and service LoB. She likes to evangelize how business leaders can provide best customer experience with help of innovations in customer analytics. Her love for technology and art-of-possible helps her better understand customers and promote the right solution. Swati serves as Global Director Solutions Marketing at SAP. Her experience spans product development, solution management and solution marketing touching various aspects of CRM solutions. @SNSinha Kevin Poe is a Client Consulting Director working within Experian Decision Analytics’ Global Consulting Practice. He works with clients on a broad spectrum of issues, including customer experience, multi-channel sales and service, analytics, business process, and marketing strategies. He has held senior positions at Capital One, SunTrust Bank, and McKinsey in a wide range of roles in North America and Europe. He has worked extensively for and with banks for over 15 years following roles in engineering and consulting for industrial manufacturers and energy companies. Bob Gilbreath is Co-Founder and President of Ahalogy, a Pinterest & Content marketing company that works with companies such as P&G, Kraft and Abercrombie & Fitch. Previously, Bob was a partner at digital agency, Bridge Worldwide, which was acquired by WPP. Post-acquisition, Bob became Chief Strategy Officer of POSSIBLE. Bob is the author of The Next Evolution of Marketing: Connect with your Customers by Marketing with Meaning (McGraw-Hill). His career started in marketing at Procter & Gamble, where he launched Mr. Clean Magic Eraser and was named an Advertising Age Top 50 Marketer. Bob has an MBA in Marketing from NYU/Stern and a BA in Economics from Duke University. @mktgwithmeaning
- 5. Using Analyticsto DeepenCustomer Relationships October 7th 2014 Swati Sinha Director Analytics Strategic Product Marketing s.sinha@sap.com snsinha www.linkedin.com/in/swatinigamsinha/
- 6. © 6 FewerChannels Limited Feedback BroadcastModel © 6 The Old Way of Doing Things
- 7. © 77 6.5 BILLION MobilePhone Subscribers Worldwide 127 Minutes of Mobile App Usage a Day in the US76% Increasein SocialMedia Usage in One Year New Channels Greater Interactivity
- 8. © 8 Instant GratificationCross- Channel Personalized Social Dimension
- 9. © 9 Real-time Big Data 360-degree GenerateReal-time Consumer Insights
- 10. © 10 BringTogetherBigData aboutConsumers Mobile devices Website Collect Big Data from MultipleSources Sensors Social media3rd-party data Enterprise Systems
- 11. © 11 Future behavior Consumerhistory Current context (e.g., time, location, usage, emotions, intent) (e.g, purchases, engagement across channels) (e.g., prediction of lifetime value) Consumer Identity (e.g., attributes, public data, likes, interests , memberships, ownerships, segments) GenerateaCompletePictureoftheConsumer Generate Consumer Insights in Real-time
- 12. © 12 Deliver EngagingExperiencesPersonalized Any Device Social
- 13. © 13 DeliverEngaging Experiences Createa RicherExperience EngageConsumersona1-to-1Basis ProvideInstantGratification Provide immersive experiences, while creating opportunities for social connection Deliver 1-to-1 personalized offers, content and recommendations in real time Enable consumers to complete transactions, access services and give feedback – anytime, anywhere
- 14. © 14 Create aMore Responsive Enterprise New Business Models Sense and Respond Optimize
- 15. © 15 Create aMore Responsive Enterprise Createandshapedemandin real time Rapidlymatchsupplytoa changing market Develop new productsandbusiness models Adjust marketing campaigns on the fly and dynamically optimize promotions Sense and respond quickly to optimize inventory levels and product assortment Uncover new consumer needs and monetization opportunities
- 16. © 16 Clear Benefits Improved Business Performance GreaterSpend per Customer Stronger Customer Loyalty
- 17. © 17 Feel freeto connect with me at : s.sinha@sap.com snsinha www.linkedin.com/in/swatinigamsinha/ THANK YOU!
- 18. ©2014 Experian InformationSolutions, Inc. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the trademarks of their respective owners. No part of this copyrighted work may be reproduced, modified, or distributed in any form or manner without the prior written permission of Experian. Experian Public. Upgrading to Exceptional Customer Experience through Business Transformation
- 19. 19©2014 Experian InformationSolutions, Inc. All rights reserved. Experian Public. Macro trends in customer experience INTEGRATE customer behavioral data Customer JOURNEY MAPPING is KEY The changing role of the CMO - TECHNOLOGY DRIVEN The rise of EMPATHYPredictive ANALYTICS leading to anticipatory customer service COMBINE customer experience methodologies MOBILE, MOBILE, MOBILE: retail / digital integration The CMO and the CIO must WORK TOGETHERStrong focus on the “OMNI- CHANNEL” ENGAGED employees = GOOD customer experience Marketers will receive DATA & ANALYTICS TRAINING CONTACT CENTERS morph into “relationship hubs” Better utilization of collected CUSTOMER DATA
- 20. 20©2014 Experian InformationSolutions, Inc. All rights reserved. Experian Public. Challenges that prevent a great customer experience Customers expect cross- channel knowledge! LACK OF CHANNEL INTEGRATION TOTAL RELIANCE ON TECHNOLOGY & AUTOMATION Resulting in an inconsistent and uninformed experience Without really understanding customers’ expectations and needs It’s still all about real people! INTERNAL VIEW OF CUSTOMER EXPERIENCE Without getting customer input or understanding their pain points UNCLEAR OWNERSHIP Within the organization Who’s customer experience is it? Who owns it, who supports it, who implements it? “80% of executives believe their company is delivering a superior customer experience, yet in 2013 only 8% of companies surveyed received a top grade from their customers” Forrester analysis (1/14)
- 21. 21©2014 Experian InformationSolutions, Inc. All rights reserved. Experian Public. The journey to optimizing customer experience What do we need? Pilots of enhancements Champion-challenger tests of decision strategies CUSTOMER EXPERIENCE TESTING PROGRAM Predicted impact of various processes and decisions on different segments of customers Expected impact of improved customer satisfaction on retention, costs, profit PREDICTIVE MODELING OF CUSTOMER ENGAGEMENT & SATISFACTION Application, behavioral, third-party and interaction dataCUSTOMER DATA How valuable is a highly satisfied and engaged customer – especially one who becomes a vocal advocate? FINANCIAL IMPACT MEASUREMENT Statistically robust measurement of the experience – for customers and prospects CUSTOMER SATISFACTION SURVEYS (e.g., NPS)
- 22. 22©2014 Experian InformationSolutions, Inc. All rights reserved. Experian Public. Consumer banking case study Getting the customer experience right B U S I N E S S C H A L L E N G E A smart marketing team used the change as a successful marketing campaign Given the considerable cost savings, the bank changed their customer service operations to off-shore call centers. There was an unexpected downturn in CSAT and retention, as customers expressed their unhappiness. S O L U T I O N Listened to customer feedback to realize that customers wanted to speak to someone local who they felt understood them and their needs. The bank responded by reversing their off-shore decision. A large UK bank realized that a cost-effective operational decision had significant negative impact to the customer experience. A B O U T T H E C L I E N T Bounce back in CSAT and NPS Improved retention by 5%
- 23. 23©2014 Experian InformationSolutions, Inc. All rights reserved. Experian Public. Telco case study Building customer engagement Organic growth through loyalty and referrals 4% reduction in churn 7% increase in new referral customers Fewer detractors who can have a negative impact Communicate – through internal communication that customer experience improvement is the key goal in all management initiatives Understand – identify key drivers of NPS, including correlation of NPS with CSAT and engagement Implement action plan – deliver on customer expectations and measure impact through NPS and other feedback S O L U T I O N NPS program with monthly phone and email interviews targeted to customers and competitors’ customers for competitive benchmarking. Then, implemented suggested changes for improved engagement. BU S I N E S S C H A L L E N G E Leveraging the power of NPS has helped a wireless Telco improve customer experience to keep more and get more customers. A B O U T T H E C L I E N T
- 24. 24©2014 Experian InformationSolutions, Inc. All rights reserved. Experian Public.
- 25. Pinterest: A COMPELLING NEWPLATFORM FOR CONTENT MARKETING
- 26. Pinterest (and contentdiscovery) follows 80-for-20
- 27. Optimizing Pinterest copythrough data science
- 28. When you continuouslylearn & optimize, you can get a viral repin rate
- 29. #SMTLive Our Speakers Paul Dunayis an award-winning B2B marketing expert with more than 20 years’ success in generating demand and creating buzz for leading technology, consumer products, financial services and professional services organizations. Paul is the author of five “Dummies” books including Facebook Advertising for Dummies (Wiley 2010), and Facebook Marketing for Dummies 3rd Edition (Wiley 2012). @PaulDunay Swati Sinha is an analytics solution professional, she specializes in sales, marketing and service LoB. She likes to evangelize how business leaders can provide best customer experience with help of innovations in customer analytics. Her love for technology and art-of-possible helps her better understand customers and promote the right solution. Swati serves as Global Director Solutions Marketing at SAP. Her experience spans product development, solution management and solution marketing touching various aspects of CRM solutions. @SNSinha Kevin Poe is a Client Consulting Director working within Experian Decision Analytics’ Global Consulting Practice. He works with clients on a broad spectrum of issues, including customer experience, multi-channel sales and service, analytics, business process, and marketing strategies. He has held senior positions at Capital One, SunTrust Bank, and McKinsey in a wide range of roles in North America and Europe. He has worked extensively for and with banks for over 15 years following roles in engineering and consulting for industrial manufacturers and energy companies. Bob Gilbreath is Co-Founder and President of Ahalogy, a Pinterest & Content marketing company that works with companies such as P&G, Kraft and Abercrombie & Fitch. Previously, Bob was a partner at digital agency, Bridge Worldwide, which was acquired by WPP. Post-acquisition, Bob became Chief Strategy Officer of POSSIBLE. Bob is the author of The Next Evolution of Marketing: Connect with your Customers by Marketing with Meaning (McGraw-Hill). His career started in marketing at Procter & Gamble, where he launched Mr. Clean Magic Eraser and was named an Advertising Age Top 50 Marketer. Bob has an MBA in Marketing from NYU/Stern and a BA in Economics from Duke University. @mktgwithmeaning
- 30. #SMTLive Thank You toOur Sponsor @SAPCRM
- 31. #SMTLive Upcoming Webinar October 14th MarketingAutomation: Keeping Up with the Digital Transformation of Marketing
Editor's Notes
- #7 And we like to start first by talking a little bit about “the old way of doing things”. In the past, most communication to the consumer was exclusively one-way – companies were always broadcasting to a mass audience. There were relatively few channels to reach consumers. And because we were broadcasting, because the communication was one-way – there were limited opportunities to get consumer feedback.
- #8 But if we look at the world today, there are many more channels to reach the consumer. …that allow us to have more of a two-way dialogue with the consumer. They’re channels that span a huge, worldwide potential audience for us... (Statistic: 6.5B mobile phone subscribers worldwide) …they’re channels that consumers are actively engaged with… (Statistic: 127 minutes of mobile app usage daily in the U.S.) …and that are increasingly becoming an important part of consumers’ lives. (Statistic: 76% increase in social media usage in 1 year)
- #9 At the same time, as consumers have started to use these new channels, though, their expectations for how they can engage with you have risen. They expect experiences now that are: Highly-personalized, …with a strong social dimension That provide opportunities for instant gratification And which blend seamlessly across channels. Analytics can help make all of this possible.
- #10 The first step to engaging consumers more deeply is being able to generate deep insights about them in real time. In the past, the common refrain may have been “I need to learn more about consumers. I wish I had more information that I could look at to tell me who they are.” But now with all these new channels, we’re at the point where we actually are starting to have too much information and the key is being able to: (First animation) Analyze massive amounts of data from all these different sources… (Second animation) …to create a 360-degree view of each consumer (Third animation) …and be able to act on these insights in real time.
- #13 And so when you are able to generate the real-time consumer insights that we talked about, that’s always the next question – you’ve generated these insights, now “What do you want to do with them?” One of those things is being able to deliver really amazing, really engaging experiences for consumers. These are experiences that are: (First animation) Highly-personalized… (Second animation) …that create a social connection… (Third animation) …and are available on any device.
- #14 The aim is to: Create a richer experience for the consumer, providing them with immersive experiences that have a strong social dimension Engage with consumers with 1-to-1 personalization, delivering personalized offers, content and recommendations in real time Always provide consumers with opportunities for instant gratification, whether it’s enabling them to complete transactions, access services or give feedback – at anytime and anywhere they are.
- #15 And as you’re delivering these great experiences to the consumer, you’re going to be starting to collect even more information – which is data you can use to start driving key business decisions and ensuring your business is more responsive. It’s data you can use to… (First animation) …help your business sense and respond to changing market conditions… (Second animation) …optimize the business and its processes based on the insights you collect… (Third animation) …and explore opportunities for new products and to pursue new business models.
- #16 With deep consumer insights, you’ll be able to do things like: Create and shape demand in real time – adjusting your marketing campaigns while their in-market to maximize your ROI, instead of waiting till they’ve passed to analyze their effectiveness Rapidly match supply to a changing market – optimizing things like inventory levels and product assortment based on the latest consumer demand data …and develop new products and business models – using consumer insights to refine your existing product offerings, uncover new consumer needs or even create new monetization opportunities.
- #17 And when you are able to engage with consumers more deeply, the benefits are clear: You can enjoy stronger customer loyalty, more easily attracting new customers and building lasting relationships with them... You can increase spend per customer, by doing things like increasing offer conversion rates and building bigger baskets… …and you can improve business performance across a wide range of dimensions that we’ve talked about.
- #20 Customer experience matters more than ever because customers have much more information and control Customer have higher expectations than ever before There is a huge shift to online and mobile channels Customers have more options for where and how to buy Customers can more easily switch to the competition Customers are finding more ways to do business by self-service – sometimes by choice, sometimes not Social media makes it easy and quick to share both good and bad experiences
- #26 Might be good to show this at the start to introduce WHY Pinterest is a high-potential platform for marketing. This is a study we commissioned early in the year to help our clients understand the opportunity.
- #27 But Pinterest has been notoriously difficult for big brands to crack…It takes a high quantity of quality content. Our analysis confirms that the majority of engagement goes to a minority of content…You have to work hard to win on Pinterest with the right content.
- #28 Winning on Pinterest is like SEO – a mix of data science and human understanding. One of the tools we have is a keyword analyzer that looks through all of our data on the pin descriptions on Pinterest and makes recommendations to the person writing pin copy. See the before/after of a “plain” description, recommended keywords, and the improved copy that includes the keywords but is also much “punchier” thanks to good copywriting.
- #29 This is an example of a before/after for an Ahalogy client. We are obsessed with the “repin rate” of individual pins. This is the percentage of people who click the repin button after seeing it. The higher the repin rate, the more earned impressions and traffic you will see. This is where all the little things add up to getting more pins that fall into that 80-for-20 that we looked at earlier.