Changes in consumer behavior, fueled by technology, require new marketing capabilities. Each year, $112 billion in advertising is wasted1. A new capability model, to optimize customer value at every interaction, is required. Progressive marketers that embrace this capability model have already realized hundreds of millions annually
for their firms.
This paper explores the fundamental changes in the business of marketing, then introduces a capability model for driving customer engagement in a connected world. This capability model enables robust optimization at “the moment
of truth,” when customers engage directly with brands.
CMOs now have access to vast amounts of consumer data through social media, which is shifting the marketing landscape. This data provides insights into customer characteristics beyond just demographics, allowing for highly personalized and predictive marketing. The convergence of marketing and advertising technologies (MadTech) further empowers CMOs by automating processes and providing insights driven by predictive analytics. This new environment has elevated the role of the CMO to make strategic business decisions across the company using customer insights.
In a world where consumers have infinite access to information and choices, brands must embrace "the power of now" and focus on small, immediate interactions rather than large marketing campaigns. The author proposes a strategic growth model for retailers centered around five experiential elements: harmonized channels, personalized experiences, localized context, social influences, and amplified relevance. To succeed, brands must own the "micro-moments" that occur when consumer needs arise by being present in a compelling and relevant way.
This document summarizes key points from the book "Results-Driven Marketing: A Guide to Growth and Profits" which advocates for a more rigorous, data-driven approach to marketing. It notes that traditional marketing approaches are often inefficient and do not reliably generate returns. The document argues that marketing must embrace quantitative analysis and metrics like ROI to optimize spending and prove its value. It provides several examples of industries like CPG, automotive and financial services that would benefit from making marketing more disciplined and focused on measurable outcomes.
This document provides an agenda for the 2012 CRMC conference taking place May 29-30 at the Hyatt Regency Chicago. Day one includes workshops on data analytics, mobile marketing strategies, and loyalty programs. The general session will feature presentations on innovation, customer value, and case studies from retailers Michaels Stores and GameStop. Day two includes a welcome, keynotes on customer connectivity and marketing in challenging times, and case studies from retailers GNC, Gilt Groupe, and hhgregg on using customer data and personalized engagement across channels to increase sales and loyalty.
The marketing world’s intense focus on analytics, of late, hasn’t always led to better performance — because, while it’s easy to collect data, it’s difficult to turn it into deep insight. This Insight Center covered content that included a leading practitioner company’s reinvention of market research, a framework for measuring what your customers actually value and will pay for, and a toolkit approach to defining the customer’s “job to be done.”
https://runfrictionless.com/b2b-white-paper-service/
Hansa cequity creating power customers (global)Ajay Kelkar
The document discusses creating power customers rather than power brands by focusing on building deeper relationships with individual customers. It discusses managing customer migration rather than just attrition by focusing on changes in customer value over time. It also discusses creating experience brands by focusing on staging memorable experiences for customers rather than just advertising to build brands. The document provides an overview of Hansa Cequity's trip segmentation framework which analyzes customer trips at the store and product level to provide insights to improve business transformations.
Shopper Marketing is a core B2C (business to consumer) marketing strategy used to activate your brand in the online and offline retail world. From omnichannel marketing, to analyzing shopper insights, this guide distills a best practice approach to Shopper Marketing that will superpower your strategy and lead you in the direction of success.
With input by experts in the shopper marketing world, this guide will take you from the basics and into the challeneges, tactics and metrics you need to follow. After all of the best practices are shared, there is a stage by stage, step by step action plan with tools and templates designed to immediately help your organization leverage best practices.
Table of Contents
Introduction: The Evolution of Shopper Marketing
The Essence of Shopper Marketing
What Shopper Really Is, What it isn’t, and Who’s Profiting
The Key Differences Between Consumers and Shoppers
The Incredible Importance of Shopper Insights/Analytics
The Non-Linear Omni-Channel Shopper Journey
Powerful Statistics that Make the Business Case
Case Study: Scotch Tape
The Nuts and Bolts of Shopper Marketing
Processes and Best Practices
Know Your Shopper(s) Before You Begin
Channels, Trends, Seasonal Events and Tactics
Common Challenges in the Shopper Marketing World
Watching Your Competition Closely for Insights
Case Study: Allegra
What You Need to Succeed
Digital & Social Acumen
Partnership With All Levels (Retailer, Brand, and Agency)
Retailer Led Marketing
Brand Led marketing
Case Study: Alcon
Exploring the Future of Shopper Marketing
Neuromarketing and Behavioral Insights
Tracking, Testing and Simulations
Seamless Shopping Experiences
Final Thoughts
Acknowledgements
Bibliography
Shopper Marketing action plan & toolkit
Shopper marketing for retail net group feb 17, 2011Jim Holbrook
The document discusses how digital technology is revolutionizing shopper marketing. Some key points:
- Shoppers now do extensive online research before shopping and make purchase decisions before entering stores.
- Brand loyalty has declined as shoppers focus more on deals, offers, and price. Collaboration between marketers and retailers is challenging in this new environment.
- Localized and personalized marketing that engages shoppers through experiences and online communities across multiple touchpoints is more effective than traditional campaigns. Digital tools allow reaching shoppers throughout the entire decision journey.
CMOs now have access to vast amounts of consumer data through social media, which is shifting the marketing landscape. This data provides insights into customer characteristics beyond just demographics, allowing for highly personalized and predictive marketing. The convergence of marketing and advertising technologies (MadTech) further empowers CMOs by automating processes and providing insights driven by predictive analytics. This new environment has elevated the role of the CMO to make strategic business decisions across the company using customer insights.
In a world where consumers have infinite access to information and choices, brands must embrace "the power of now" and focus on small, immediate interactions rather than large marketing campaigns. The author proposes a strategic growth model for retailers centered around five experiential elements: harmonized channels, personalized experiences, localized context, social influences, and amplified relevance. To succeed, brands must own the "micro-moments" that occur when consumer needs arise by being present in a compelling and relevant way.
This document summarizes key points from the book "Results-Driven Marketing: A Guide to Growth and Profits" which advocates for a more rigorous, data-driven approach to marketing. It notes that traditional marketing approaches are often inefficient and do not reliably generate returns. The document argues that marketing must embrace quantitative analysis and metrics like ROI to optimize spending and prove its value. It provides several examples of industries like CPG, automotive and financial services that would benefit from making marketing more disciplined and focused on measurable outcomes.
This document provides an agenda for the 2012 CRMC conference taking place May 29-30 at the Hyatt Regency Chicago. Day one includes workshops on data analytics, mobile marketing strategies, and loyalty programs. The general session will feature presentations on innovation, customer value, and case studies from retailers Michaels Stores and GameStop. Day two includes a welcome, keynotes on customer connectivity and marketing in challenging times, and case studies from retailers GNC, Gilt Groupe, and hhgregg on using customer data and personalized engagement across channels to increase sales and loyalty.
The marketing world’s intense focus on analytics, of late, hasn’t always led to better performance — because, while it’s easy to collect data, it’s difficult to turn it into deep insight. This Insight Center covered content that included a leading practitioner company’s reinvention of market research, a framework for measuring what your customers actually value and will pay for, and a toolkit approach to defining the customer’s “job to be done.”
https://runfrictionless.com/b2b-white-paper-service/
Hansa cequity creating power customers (global)Ajay Kelkar
The document discusses creating power customers rather than power brands by focusing on building deeper relationships with individual customers. It discusses managing customer migration rather than just attrition by focusing on changes in customer value over time. It also discusses creating experience brands by focusing on staging memorable experiences for customers rather than just advertising to build brands. The document provides an overview of Hansa Cequity's trip segmentation framework which analyzes customer trips at the store and product level to provide insights to improve business transformations.
Shopper Marketing is a core B2C (business to consumer) marketing strategy used to activate your brand in the online and offline retail world. From omnichannel marketing, to analyzing shopper insights, this guide distills a best practice approach to Shopper Marketing that will superpower your strategy and lead you in the direction of success.
With input by experts in the shopper marketing world, this guide will take you from the basics and into the challeneges, tactics and metrics you need to follow. After all of the best practices are shared, there is a stage by stage, step by step action plan with tools and templates designed to immediately help your organization leverage best practices.
Table of Contents
Introduction: The Evolution of Shopper Marketing
The Essence of Shopper Marketing
What Shopper Really Is, What it isn’t, and Who’s Profiting
The Key Differences Between Consumers and Shoppers
The Incredible Importance of Shopper Insights/Analytics
The Non-Linear Omni-Channel Shopper Journey
Powerful Statistics that Make the Business Case
Case Study: Scotch Tape
The Nuts and Bolts of Shopper Marketing
Processes and Best Practices
Know Your Shopper(s) Before You Begin
Channels, Trends, Seasonal Events and Tactics
Common Challenges in the Shopper Marketing World
Watching Your Competition Closely for Insights
Case Study: Allegra
What You Need to Succeed
Digital & Social Acumen
Partnership With All Levels (Retailer, Brand, and Agency)
Retailer Led Marketing
Brand Led marketing
Case Study: Alcon
Exploring the Future of Shopper Marketing
Neuromarketing and Behavioral Insights
Tracking, Testing and Simulations
Seamless Shopping Experiences
Final Thoughts
Acknowledgements
Bibliography
Shopper Marketing action plan & toolkit
Shopper marketing for retail net group feb 17, 2011Jim Holbrook
The document discusses how digital technology is revolutionizing shopper marketing. Some key points:
- Shoppers now do extensive online research before shopping and make purchase decisions before entering stores.
- Brand loyalty has declined as shoppers focus more on deals, offers, and price. Collaboration between marketers and retailers is challenging in this new environment.
- Localized and personalized marketing that engages shoppers through experiences and online communities across multiple touchpoints is more effective than traditional campaigns. Digital tools allow reaching shoppers throughout the entire decision journey.
Success at retail is about creating great experiences. Just like dating.
Sources:
1. 2011 Rightnow Customer Experience Impact Report
2. Harbor Industries: Industry Trends and Insights
3. Kissmetrics - The Price of Bad Customer Service
4. Forrester / The Business Impact of Customer Experience, 2012
5. Dr4ward / What is Social Currency and How Does it Effect Social Commerce? Infographic
Transforming from a campaign-based approach to a more customer-centric one spans the considerations
needed to effi ciently manage all aspects of the Connected Journey. In 2016, multi-channel marketing (MCM)
enters a new and exciting phase that merges time-tested best practices with the trends that are driving digital
performance today
THE SECRET TO BETTER CUSTOMER ENGAGEMENTMark Robinson
The document discusses improving customer engagement and retention. It notes that focusing on retaining existing customers can be more profitable than acquiring new ones, as 20% of customers account for 80% of profits. However, many companies still prioritize new customer acquisition over retention. Effective customer loyalty programs use analytics to personalize the customer experience, incentivize interactions, and turn loyal customers into brand advocates who bring in new business through word-of-mouth recommendations.
While Uncle Sam props up the markets and maintains record low interest rates, brands’ greater engagement with consumers, along with a readiness to respond to emergencies, forms a central role. In a new era of cash-flow constraints, brand rationalization and no-risk methods to regain trust, what are the best methods for protecting it?
Continued over-reliance on traditional printed flyers to do the heavy marketing lifting is misplaced. This white paper explains how the effectiveness of printed media can now be vastly improved by supplementing flyer campaigns with digital media that exploits mobile ID tracking to hyper-target individual, ideal customers with actionable offers.
Online Marketing - eCommerce - InnovationLeanne Ross
Innovation paper for bringing Products to Market - the rise of eCommerce, it's benefits and challenges, impact on the economy and how it is fuelling innovation in the retail industry.
This document discusses how Accenture has developed proprietary econometric modeling techniques to determine the incremental sales impact of each component of an automaker's marketing mix. By analyzing over 150 companies, Accenture has found on average 14% of marketing budgets are ineffectively spent. Accenture piloted this approach with an automaker in South America and was able to determine which factors like advertising, pricing incentives, and product innovations most directly drove sales. This allows automakers to optimize their marketing spending. Accenture argues their approach provides a scientific, data-driven method to improve marketing ROI compared to traditional subjective methods.
Point of Sale Industry Report - An Executive SummaryAnil Noorani
Point of sale is ’more influential’ than tv, radio and press advertising, a new TKM consultants report finds.
The retail environment remains challenging and TKM Consultant’s 2017 POS survey, sponsored by Creo, aims to better understand how marketers responsible for POS, are adapting to the changing market landscape and their consumers’ needs.
The report helps us understand marketers’ opinions on how well they are executing campaigns across territories, building shopper insight and strategy into their campaigns, measuring ROI and using technology to help manage campaigns.
Further information can also be seen on the retail times website at: http://www.retailtimes.co.uk/point-sale-influential-tv-radio-press-advertising-new-report-finds/
Brands that invest in building their brand equity through long-term brand-building activities see significantly greater returns than those who focus only on short-term activations. Strong brands generate substantially higher sales volumes, command price premiums, and are more likely to grow their market share than weaker brands. Studies show that 60% of a company's marketing budget should be dedicated to brand-building and 40% to activations, and that brand-building investments have financial returns over periods of 6 months or more.
Extensive research from TNS proves that social media and search data can accurately predict the results of brand tracker surveys months in advance. The implications for market research are enormous.
Out of the box ideas ambush marketing techniquesHpm India
This document discusses ambush marketing techniques. It defines ambush marketing as hijacking another company's advertising campaign to gain exposure for one's own brand without having officially sponsored the event. It provides examples of direct ambush marketing like predatory ambushing and coattail ambushing. Indirect ambush marketing aims to indirectly associate a brand with another campaign through distraction or using similar values. Famous examples of ambush marketing discussed are Pepsi capitalizing on Coca-Cola's cricket sponsorship and Rona painting collecting Apple's iPod color leftovers.
This document discusses metrics that are important for B2B marketers to measure. It notes that many B2B marketers struggle to measure marketing's impact on business outcomes and instead focus on easier metrics like outputs and activities. The document recommends that marketers measure metrics that connect marketing to revenue, profit, and customer growth. It also suggests managing marketing performance across the entire customer lifecycle rather than just focusing on the early funnel. Marketers need to show how their activities drive sustainable business development in order to gain credibility and secure budgets.
The document discusses how marketers can better engage customers in today's fragmented media landscape. It notes that most advertising fails to reach its intended audience and that superior customer experiences are needed. The summary describes how a white paper details four "connected capabilities" - narrowcasting, multidimensional insight, networked intelligence, and personalized engagement - that marketers can use to more efficiently reach customers with tailored messages at optimal times. This increases ROI through a new approach to customer engagement.
Banks are focusing on building brand loyalty among youth through targeted social media campaigns and personalized mobile banking experiences. Some strategies that have been successful include HSBC's student-focused music campaign on social media in the UK, TEB BNP Paribas' branded Snapchat lens to promote a tennis tournament, and EGBank's social media storytelling series that increased brand awareness among Egyptian youth. Artificial intelligence is also being used to deliver contextually relevant messages to the right audiences at the right time, as demonstrated by Alfa-Bank's use of AI to connect customers to a football star brand ambassador.
"The Future of Selling" white paper by Brian Fetherstonhaugh, Chairman & CEO of OgilvyOne Worldwide, provides recommendations on how marketers can maximize sales using social media and features best-in-class examples from companies that are winning in the Social Selling space. It is based on a a four month research project conducted in the US, UK, Brazil and China and has been informed by interviews with over 30 sales experts.
The document introduces a new measurement standard called Engagement Mapping. Engagement Mapping counts every customer touchpoint, rather than just the last one as the current "last click" model does. This enables advertisers to more effectively reach customers across multiple channels and touchpoints. Research shows customers who interact with multiple advertising channels like search and display have higher conversion rates. However, the "last click" model only credits the last interaction and fails to account for the full customer journey. Engagement Mapping addresses this by mapping the entire customer path and attributing appropriate credit to all touchpoints, allowing advertisers to optimize campaigns and understand true return on investment.
Sam Sebastian, Director, Local & B2B Markets, Google Inc. Audiences initiate connections with a brand long before they make a purchase decision. These connections, which include search queries, reviews,
site visits, video views and many more interactions with content, influence whether users eventually select a brand or a competitor’s brand. Google’s Sam Sebastian will discuss research and examples about what Google calls the Zero Moment of Truth and share fresh strategies of how Brands are winning and optimizing the Zero Moment of Truth.
The Zero Moment of Truth (ZMOT) refers to the research consumers do online before making a purchase. With more information available on the internet, consumers know more about products than salespeople. To succeed at ZMOT, companies should: 1) appoint a leader to oversee ZMOT efforts, 2) identify key research moments, 3) answer common questions, 4) optimize websites for mobile and ZMOT, 5) quickly adapt to new information, 6) include helpful video content, and 7) start taking ZMOT action now.
Trends'11 analysen perspektiveret af Anders Uttrup, CreunaAnders Uttrup
Trends-analysen gennemføres af Huset Markedsføring, Dagligvareleverandørerne (DLF), Dansk Annoncørforening (DAF) og Danske Reklame- og Relationsbureauers Brancheforening (DRRB) og MEGAFON, der i 12 år er dokumenteret som Danmarks mest præcise analysebureau.
The document discusses the concept of "moments of truth" (MOT) in customer service. An MOT is any time a customer interacts with or comes into contact with a company, even remotely, and forms an impression. These interactions can either create a "moment of magic" or "moment of misery" depending on how they are handled. To improve MOTs for customers, companies should focus on processes, people, and products. The document also provides examples of what can create negative MOTs and outlines an exercise where employees act as mystery shoppers to evaluate customer experiences and identify ways to enhance positive MOTs.
Quick Guide - Customer Journey Mapping
Her får du indblik i principperne bag Customer Journey Mapping samt et eksempel på hvordan du selv kunne bruge værktøjerne i praksis.
Success at retail is about creating great experiences. Just like dating.
Sources:
1. 2011 Rightnow Customer Experience Impact Report
2. Harbor Industries: Industry Trends and Insights
3. Kissmetrics - The Price of Bad Customer Service
4. Forrester / The Business Impact of Customer Experience, 2012
5. Dr4ward / What is Social Currency and How Does it Effect Social Commerce? Infographic
Transforming from a campaign-based approach to a more customer-centric one spans the considerations
needed to effi ciently manage all aspects of the Connected Journey. In 2016, multi-channel marketing (MCM)
enters a new and exciting phase that merges time-tested best practices with the trends that are driving digital
performance today
THE SECRET TO BETTER CUSTOMER ENGAGEMENTMark Robinson
The document discusses improving customer engagement and retention. It notes that focusing on retaining existing customers can be more profitable than acquiring new ones, as 20% of customers account for 80% of profits. However, many companies still prioritize new customer acquisition over retention. Effective customer loyalty programs use analytics to personalize the customer experience, incentivize interactions, and turn loyal customers into brand advocates who bring in new business through word-of-mouth recommendations.
While Uncle Sam props up the markets and maintains record low interest rates, brands’ greater engagement with consumers, along with a readiness to respond to emergencies, forms a central role. In a new era of cash-flow constraints, brand rationalization and no-risk methods to regain trust, what are the best methods for protecting it?
Continued over-reliance on traditional printed flyers to do the heavy marketing lifting is misplaced. This white paper explains how the effectiveness of printed media can now be vastly improved by supplementing flyer campaigns with digital media that exploits mobile ID tracking to hyper-target individual, ideal customers with actionable offers.
Online Marketing - eCommerce - InnovationLeanne Ross
Innovation paper for bringing Products to Market - the rise of eCommerce, it's benefits and challenges, impact on the economy and how it is fuelling innovation in the retail industry.
This document discusses how Accenture has developed proprietary econometric modeling techniques to determine the incremental sales impact of each component of an automaker's marketing mix. By analyzing over 150 companies, Accenture has found on average 14% of marketing budgets are ineffectively spent. Accenture piloted this approach with an automaker in South America and was able to determine which factors like advertising, pricing incentives, and product innovations most directly drove sales. This allows automakers to optimize their marketing spending. Accenture argues their approach provides a scientific, data-driven method to improve marketing ROI compared to traditional subjective methods.
Point of Sale Industry Report - An Executive SummaryAnil Noorani
Point of sale is ’more influential’ than tv, radio and press advertising, a new TKM consultants report finds.
The retail environment remains challenging and TKM Consultant’s 2017 POS survey, sponsored by Creo, aims to better understand how marketers responsible for POS, are adapting to the changing market landscape and their consumers’ needs.
The report helps us understand marketers’ opinions on how well they are executing campaigns across territories, building shopper insight and strategy into their campaigns, measuring ROI and using technology to help manage campaigns.
Further information can also be seen on the retail times website at: http://www.retailtimes.co.uk/point-sale-influential-tv-radio-press-advertising-new-report-finds/
Brands that invest in building their brand equity through long-term brand-building activities see significantly greater returns than those who focus only on short-term activations. Strong brands generate substantially higher sales volumes, command price premiums, and are more likely to grow their market share than weaker brands. Studies show that 60% of a company's marketing budget should be dedicated to brand-building and 40% to activations, and that brand-building investments have financial returns over periods of 6 months or more.
Extensive research from TNS proves that social media and search data can accurately predict the results of brand tracker surveys months in advance. The implications for market research are enormous.
Out of the box ideas ambush marketing techniquesHpm India
This document discusses ambush marketing techniques. It defines ambush marketing as hijacking another company's advertising campaign to gain exposure for one's own brand without having officially sponsored the event. It provides examples of direct ambush marketing like predatory ambushing and coattail ambushing. Indirect ambush marketing aims to indirectly associate a brand with another campaign through distraction or using similar values. Famous examples of ambush marketing discussed are Pepsi capitalizing on Coca-Cola's cricket sponsorship and Rona painting collecting Apple's iPod color leftovers.
This document discusses metrics that are important for B2B marketers to measure. It notes that many B2B marketers struggle to measure marketing's impact on business outcomes and instead focus on easier metrics like outputs and activities. The document recommends that marketers measure metrics that connect marketing to revenue, profit, and customer growth. It also suggests managing marketing performance across the entire customer lifecycle rather than just focusing on the early funnel. Marketers need to show how their activities drive sustainable business development in order to gain credibility and secure budgets.
The document discusses how marketers can better engage customers in today's fragmented media landscape. It notes that most advertising fails to reach its intended audience and that superior customer experiences are needed. The summary describes how a white paper details four "connected capabilities" - narrowcasting, multidimensional insight, networked intelligence, and personalized engagement - that marketers can use to more efficiently reach customers with tailored messages at optimal times. This increases ROI through a new approach to customer engagement.
Banks are focusing on building brand loyalty among youth through targeted social media campaigns and personalized mobile banking experiences. Some strategies that have been successful include HSBC's student-focused music campaign on social media in the UK, TEB BNP Paribas' branded Snapchat lens to promote a tennis tournament, and EGBank's social media storytelling series that increased brand awareness among Egyptian youth. Artificial intelligence is also being used to deliver contextually relevant messages to the right audiences at the right time, as demonstrated by Alfa-Bank's use of AI to connect customers to a football star brand ambassador.
"The Future of Selling" white paper by Brian Fetherstonhaugh, Chairman & CEO of OgilvyOne Worldwide, provides recommendations on how marketers can maximize sales using social media and features best-in-class examples from companies that are winning in the Social Selling space. It is based on a a four month research project conducted in the US, UK, Brazil and China and has been informed by interviews with over 30 sales experts.
The document introduces a new measurement standard called Engagement Mapping. Engagement Mapping counts every customer touchpoint, rather than just the last one as the current "last click" model does. This enables advertisers to more effectively reach customers across multiple channels and touchpoints. Research shows customers who interact with multiple advertising channels like search and display have higher conversion rates. However, the "last click" model only credits the last interaction and fails to account for the full customer journey. Engagement Mapping addresses this by mapping the entire customer path and attributing appropriate credit to all touchpoints, allowing advertisers to optimize campaigns and understand true return on investment.
Sam Sebastian, Director, Local & B2B Markets, Google Inc. Audiences initiate connections with a brand long before they make a purchase decision. These connections, which include search queries, reviews,
site visits, video views and many more interactions with content, influence whether users eventually select a brand or a competitor’s brand. Google’s Sam Sebastian will discuss research and examples about what Google calls the Zero Moment of Truth and share fresh strategies of how Brands are winning and optimizing the Zero Moment of Truth.
The Zero Moment of Truth (ZMOT) refers to the research consumers do online before making a purchase. With more information available on the internet, consumers know more about products than salespeople. To succeed at ZMOT, companies should: 1) appoint a leader to oversee ZMOT efforts, 2) identify key research moments, 3) answer common questions, 4) optimize websites for mobile and ZMOT, 5) quickly adapt to new information, 6) include helpful video content, and 7) start taking ZMOT action now.
Trends'11 analysen perspektiveret af Anders Uttrup, CreunaAnders Uttrup
Trends-analysen gennemføres af Huset Markedsføring, Dagligvareleverandørerne (DLF), Dansk Annoncørforening (DAF) og Danske Reklame- og Relationsbureauers Brancheforening (DRRB) og MEGAFON, der i 12 år er dokumenteret som Danmarks mest præcise analysebureau.
The document discusses the concept of "moments of truth" (MOT) in customer service. An MOT is any time a customer interacts with or comes into contact with a company, even remotely, and forms an impression. These interactions can either create a "moment of magic" or "moment of misery" depending on how they are handled. To improve MOTs for customers, companies should focus on processes, people, and products. The document also provides examples of what can create negative MOTs and outlines an exercise where employees act as mystery shoppers to evaluate customer experiences and identify ways to enhance positive MOTs.
Quick Guide - Customer Journey Mapping
Her får du indblik i principperne bag Customer Journey Mapping samt et eksempel på hvordan du selv kunne bruge værktøjerne i praksis.
The document discusses the service encounter, which is defined as the period of time when a consumer directly interacts with a service. These moments of truth can occur during multiple stages of service and represent opportunities for organizations to build trust, reinforce quality, build their brand identity, and increase customer loyalty. The document also examines critical incidents, which are specific satisfying or dissatisfying interactions that are especially important to customers and go to the heart of the service benefit. Examples of critical incidents in airlines are provided.
This presentation goes through the various moments of truth, including Zero Moment of Truth coined by Google, to the First, Second, and the Ultimate Moment of Truth. This presentation discuss what it takes to win each of these important moments.
This presentation is part of the course "Influencing Consumers' Decisions: How to Make Them Pick You". Learn more about this class and other resources at http://CuriousMarketeer.com
For a limited time / quantity: Get this full course for $7 only (over 75% off). Use the following link for this special offer: http://bit.ly/1w7rmGN
This document outlines key moments of truth for Toastmasters clubs that can impact a member or guest's impression. It identifies six areas that successful clubs focus on: [1] first impressions when guests arrive, [2] formal membership orientation, [3] fellowship and communication within the club and broader Toastmasters community, [4] advance program planning and on-time meeting organization, [5] maintaining a membership of 20 or more members through retention and recruitment, and [6] recognizing member achievements through awards and celebrations. The document provides best practices under each area that clubs can follow to meet high standards.
This document discusses service focus and encounters. It defines four types of service focuses: 1) service focused, 2) market focused, 3) service and market focused, and 4) unfocused. It also discusses how unfocused service operations can achieve benefits of focus through business focus and operational focus. Service encounters are defined as moments of truth where customers interact with the service. Characteristics, types, and variables complicating encounters are described. Four elements of service encounters - customer, service provider, delivery system, and physical evidence - are outlined. Scripts are discussed as outlines for expected customer experiences. Functions and problems of scripting are also summarized.
Internettet og mobilen er blevet helt uundværlige værktøjer på vores indkøbstur - før, under og efter. Online og offline. Oplevelser af virksomheders digitale dimension påvirker derfor vores holdning til produkter og brands som aldrig før. Hør hvordan du får styr på dine (for)brugeres adfærd og deres behov for interaktion alle steder, hvor de møder dine produkter og services – og ikke mindst hvordan du beriger deres oplevelser og forbrugsmuligheder med digitale virkemidler.
Præsenteret af Stine Engemand, User Experience konsulent og Simon Kibsgård, Mobile Concept Manager
This document discusses key concepts in service quality including the five dimensions of service quality (reliability, responsiveness, assurance, empathy, tangibles), service quality gaps, quality service design techniques like Taguchi methods and poka-yoke, service quality function deployment, service failure classification, and approaches to service recovery. It also covers topics like moments of truth in customer service, measuring customer expectations and perceptions, using control charts for service processes, offering unconditional service guarantees, and performing walk-through audits to evaluate the customer experience.
Engagement Is The Future Of Branding - Brian Solis (Social Fresh WEST 2013)Social Fresh Conference
This document discusses how marketing must adapt to Generation C consumers who are always connected and share their experiences online and through social media. It notes that creative content must engage audiences and trigger social effects. Personas can help understand different consumer behaviors by studying social data. The customer experience is influenced by many touchpoints across devices, and shared experiences online affect every stage of the purchasing process. Brands must deliver consistent, seamless experiences across all screens to align with how Generation C consumers interact with products and services.
1) The document outlines various touchpoints and metrics for customers at different stages of the customer lifecycle from pre-sales to support.
2) It identifies frustration sources for customers such as only receiving calls near renewal time and slow ticket responses.
3) Recommendations are provided to address the opportunities including hiring a customer marketing manager, improving the free trial experience, and creating a deployment playbook.
Digital Marketing: Are You Ready to Go Agile?" Mohamed Mahdy
Digital marketing requires an agile approach that allows companies to listen to customers, respond quickly, and adapt strategies based on measurement. An agile strategy encompasses the ability to listen to social media, respond to customer needs in real time, measure the effectiveness of campaigns, adapt quickly to failures or market changes, and anticipate future customer wants. Companies must change their culture to prioritize experimentation and rapid testing in order to successfully execute an agile digital strategy.
Digital Marketing: Are You Ready to Go Agile?Mohamed Mahdy
Digital marketing requires an agile approach that allows companies to listen to customers, respond quickly, and adapt strategies based on measurement. An agile strategy encompasses the ability to listen to social media, respond to customer needs in real time, measure the effectiveness of campaigns, adapt quickly to failures or market changes, and anticipate future customer wants. Companies must change their culture to prioritize experimentation and rapid testing in order to successfully execute an agile digital strategy.
This document provides an overview of how to effectively use user-generated content (UGC) for automotive marketing. It discusses how UGC can be used at different stages of the car buying journey, including generating interest, closing the sale, and supporting customers after the purchase. The document also provides examples from other industries on how to encourage and utilize UGC, and emphasizes the importance of providing the right type of content at each stage to guide customers along their journey. Overall, the document advocates for harnessing UGC to create a continuous marketing conversation with customers.
New Trends in Advertising & MarketingNavin Pamnani
The document discusses new trends in advertising and marketing. It outlines several hot new trends, including going online with targeted digital advertising, courting the baby boomer demographic, using RSS feeds and social media networks to engage customers, advertising in unconventional places, premiumizing brands, blogging to build customer relationships, using CRM to improve loyalty, and mobile marketing. The trends reflect businesses shifting marketing tactics to new media in order to more effectively reach audiences and maximize advertising dollars.
Mass marketing yields less and less from more and more as the number of marketing channels for communication and distribution increase in numbers. Predictive analytics finds the patterns that help to identify the clusters of customers more likely to respond to specific messages and offers.
The document discusses the need for companies to master four capabilities to effectively engage with today's hyper-connected consumers: 1) reaching the right audience in larger numbers, 2) gaining multidimensional insight into audiences, 3) using networked intelligence across technological infrastructure, and 4) personalized engagement. It promotes Acxiom's products and services that can help companies achieve these capabilities and improve marketing ROI through more effective consumer targeting and engagement.
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Predictive analytics reaps the value from CRM databases aided by customer segmentation, competitive intelligence, and learning from marketing campaigns.
Loyalty Economics for Retailers - WhitepaperAmy Stephan
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Numa era de mudanças organizacionais e perturbações globais sem precedentes, o relatório Global Marketing Trends 2022 apresenta as principais tendências de marketing, fruto dos desafios de negócio que enfrentamos
Hansa Cequity Creating Power Customers (Global)Ajay Kelkar
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From Web Traffic to Foot Traffic: How Brands & Retailers Can Leverage Digital...Rebecca Lieb
My latest research report highlights how brands can harness the power of digital content and media to reach consumers and influence their in-store buying decisions. We surveyed 500 brand and agency marketers, including interviews with marketing leaders from PepsiCo, McDonalds, The Home Depot and Staples,
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Our Chief Digital Officer, Avi Brown, weighs in on the future of programmatic advertising and the importance of automating the direct buy.
The document summarizes a discussion between Tim Suther, CMO of Acxiom, and Emily Cavalier of Argyle Executive Forum on May 5, 2011 about the shifting balance of power between brands and consumers. Suther argues that for marketers to succeed, they need to 1) leverage proprietary customer insights to engage audiences, 2) develop multidimensional insights into customers, 3) create a marketing "central nervous system" to sense and respond to customer actions, and 4) coordinate personalized experiences for customers. Suther estimates that applying these capabilities could increase returns by 15-30% for most brands.
The document discusses the declining value of brands and increasing customer expectations in today's digital landscape. It notes that customer trust in brands has dropped 50% since 1993, while choices have proliferated online. This makes it harder for brands to connect with customers, despite more ways to reach them. The document advocates for a new customer-centric approach focused on owned media, direct marketing, detailed customer segmentation, and building trust through privacy and transparency.
Rep consumer experience_in_the_retail_renaissance_en_28_mar18_final_dm_CMR WORLD TECH
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The document discusses key topics in marketing including why marketing is important, changes in marketing trends over time, and future trends in marketing. Some of the main points covered include:
- Marketing is crucial for business success as it introduces products/services to potential customers and drives sales. Without marketing, customers would not know about a business's offerings.
- Marketing trends have evolved with changes like population growth, expanded media channels, and increased global competition forcing brands to market across borders.
- The traditional 4Ps marketing model of product, place, price, and promotion has been replaced by a new 4Es model focusing on experience, everywhere, exchange, and evangelism.
- Future marketing trends discussed include transparency marketing
51 Types of Marketing Strategies in Use TodayPeter vinosh
An organization's strategy combines all of its marketing goals into one comprehensive plan. A good marketing strategy should be drawn from market research and focus on the product mix in order to achieve the maximum profit and sustain the business. The marketing strategy is the foundation of a marketing plan.
Content strategy and earned media have huge potential to help brands better serve their customers, but many struggle to change old habits and ways of working. This book shares many of the things that we in the Brilliant Noise team have learned in recent years about developing and scaling a branded content organisation.
Marketing, Consumers and The Rise of Big Data AnalyticsLouis Fernandes
A look at today's increasingly complex marketing environment where:
1. The consumer is "master of the universe"
2. Big Data plays an ever more important role in shaping and creating experiences and interactions that drive profitable growth
3. Being able to analyse and act upon the Big Data collected is more important than the Big Data itself
4. Context trumps content, but only just
SAS Big Data Forum - Transforming Big Data into Corporate GoldLouis Fernandes
Synopsis: How SAS believes organisations can turn Big Data in to competitive advantage through the use of High Performance Analytics.
In this presentations, we look at how SAS is seeing organisations take the outputs from big data analysis and turn them into tangible business outcomes through real-time decision-making.
In it, we explore:
- Why we believe organisations need to exploit their data assets to create the insights that build competitive advantage
- How to develop infrastructures required to support multi-dimentsional insight
- What SAS is doing to make this a reality
Key topics include:
- Data governance
- Big data infrastructure
- High performance analytics
- Data visualisation
About SAS:
- World’s largest, privately held software company,
- 35 years old
- Focus on advanced and predictive analytics right from the word go
- Big data has been in our DNA before it became mainstream
Multi-Channel Customer Experience Management in RetailLouis Fernandes
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A general overview of Acxiom Corporation
Acxiom does four things:
1. We manage client data assets
2. We create data insights to drive our clients' revenues and realise their business objectives
3. We operationalise clients' data through effective marketing campaign execution
4. We advise organisations on how to use their data effectively and efficiently to maximise their revenues and profits and control thier costs
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This presentation provides a high-level outline of the Financial Services Authority (FSA) requirements for UK deposit takers to comply with Policy Statement 09-18 issued in November 2009, This includes creating a Single Customer View (SCV) for Fast Payout under the Financial Services Compensation Scheme (FSCS) to be implemented by 31 December 2010.
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Read on to find out more.
The document provides an overview of Acxiom Corporation and its services in online marketing. It discusses Acxiom's data collection and analysis capabilities to help clients better understand customers. It also covers various digital marketing channels and how an integrated approach can optimize the customer experience across multiple touchpoints.
The information age has changed the way the business world operates. No longer is intuition the driving force behind strategic development and tactics are advanced. While value may be derived from “gut feelings”, when backed up by data, they become much more effective.
Read on to find out more.
Acxiom’s Retail Consumer Dynamics Study provides a consumer-centric snapshot of the UK retail market based on current consumer thinking and behaviour underpinned by a wealth of demography and lifestyle intelligence.
Read on to find out more.
The Next Generation Of Information White PaperLouis Fernandes
Life events affect consumers dynamically – they buy new cars, get married, have children and try to keep pace with a busy and complex world. Unfortunately, companies trying to keep pace must often wait for days and sometimes weeks for static information that reflects nothing about the actions, behaviour and preferences of the consumers they want to reach.
Read on to find out more.
Effective Marketing To Maximise Customer Lifetime ValueLouis Fernandes
Competition in the telecoms industry is building daily, putting excessive pressure on marketing departments to entice, maintain, and up-sell customers. The savvy consumer market is driving price wars and diminishing the effectiveness of existing promotional techniques.
Read on to find out more.
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2. ACXIOM WHITE PAPER: THE MOMENT OF TRUTH 2
EXECUTIVE SUMMARY
Changes in consumer behavior, fueled by technology, require new marketing
capabilities. Each year, $112 billion in advertising is wasted1
. A new capability model, to
optimize customer value at every interaction, is required. Progressive marketers that
embrace this capability model have already realized hundreds of millions annually
for their firms. This paper explores the fundamental changes in the business of
marketing, then introduces a capability model for driving customer engagement in a
connected world. This capability model enables robust optimization at “the moment
of truth,” when customers engage directly with brands.
Digital innovation has fundamentally shifted power from brands to consumers.
Consumers have access to vast information about products, prices, customer
satisfaction, and availability. Meanwhile, new media and new business models
undermine traditional strategies while creating bewildering options for marketers.
“Tried and true” simply is no longer true.
This white paper outlines a capability
model to optimize customer and
shareholder value. Its goal is to enable
firms to redirect 15%–30% of media
spend to higher-performing alternatives.
Already, three leading brands have seen
benefits exceeding $100 million per year
from the capability model.
THE MOMENT
OF TRUTH
3. ACXIOM WHITE PAPER: THE MOMENT OF TRUTH 3
BOLD SOLUTIONS ARE NEEDED
Soon, all media will be digital, enabling marketers
to specifically measure effectiveness at each point
in the customer life cycle, no matter the media used.
Direct marketers already profit from this power,
adjusting spending by segment in response to specific
customer behavior. On average, direct marketers
drive $12 for every dollar invested. The digitization of
media enables a sea change in a marketer’s ability to
rapidly and precisely recalibrate media in response to
consumer behavior.
These dynamics also create strategic opportunities
for marketers, providing the ability to:
Reach and engage your desired audience, and
just them, with the best media, at precisely the
right time.
Leverage deep consumer insights to personalize,
then coordinate, experiences over time.
Personalized and coordinated experiences are
the essence of true customer engagement.
Prioritize investment to the most profitable
opportunities; in fact, to know precisely where
your next dollar should be invested… if at all.
Create a virtuous learning cycle about brand
affinity, price sensitivity, preferences, in-market
timing, and much more. This is the essence of
maximizing brand and shareholder value.
THE MOMENT
OF TRUTH
MARKETING IS BROKEN
Multichannel buyers spend four to five times more
than average,2
yet fewer than 35% of marketers
track customer behavior across channels.3
It’s not
surprising, then, that while 80% of CEOs believe they
provide a superior customer experience, just 8% of
their customers agree.4
Mass “broadcast” strategies inherently generate waste
in the name of reach – $112 billion is wasted every year
on advertising in the United States. Online advertising
is even worse – 80% of “targeted” online advertising
fails to even reach its intended audience.5
Given that
$14 billion is spent online, over $11 billion fails even
the basic test of reaching a desired customer.
On average, 80% of customers are not profitable, yet
most marketing campaigns focus on acquisition
volume, not on generating customer lifetime value.
What good are 100,000 new accounts if 80% of them
don’t contribute profit?
In the last year, U.S. consumers generated 500 billion
online comments about products and services. A link
forwarded by a friend performs 2–4 times better than
any other link. Yet, only 7% of executives track the
results of this “earned media” in real time.6
In a 2009 survey, 30% of participants said they would
rather give up sex for a year than give up their mobile
phones.7
Yet, marketers continue to talk about, but
not implement, mobile programs.8
80% OF CEOS BELIEVE
THEY PROVIDE A SUPERIOR
CUSTOMER EXPERIENCE,
JUST 8% OF THEIR
CUSTOMERS AGREE
4. ACXIOM WHITE PAPER: THE MOMENT OF TRUTH 4
THE MOMENT
OF TRUTH
BEWARE OF FALSE PROPHETS
The great forces of the time sentenced Galileo to house
arrest for his contrarian belief that the Earth revolved
around the sun. Similarly, marketers cling to illusory
beliefs that fail to truly maximize financial return.
Many marketers overly favor the bottom of the funnel,
missing significant brand-building opportunities. Of
course, marketers must convert consumer intent to
sales. However, intent doesn’t happen by accident
– it must first be generated via effective branding
and demand-generation programs. Without these
steps, revenue is suboptimized and brands are
commoditized. Yet, many firms resort to yelling
louder, when a narrowcasting strategy would be far
more effective.
Numbers do lie – not in calculation, but in
assumptions. Many firms mistakenly grant all credit
for a sale to the last ad seen (e.g., measuring online
success by whether a visitor clicks through). No one
attributes a sale at the cash register to the neon sign
on the window (the last ad seen), so why measure
online success that way? Whether online or not, a
sale is overwhelmingly caused by the cumulative
effect of marketing prior to the moment of purchase.
Understanding the contribution of these impressions
is key to rooting out ineffective media.
MOST ORGANIZATIONS HAVE
AN OPPORTUNITY TO REDIRECT
15%-30% OF THEIR MARKETING
SPEND TO HIGHER-PERFORMING
ALTERNATIVES.
NO ONE ATTRIBUTES
A SALE AT THE
CASH REGISTER
TO THE NEON SIGN
ON THE WINDOW
(THE LAST AD SEEN),
SO WHY MEASURE
ONLINE SUCCESS
THAT WAY?
Many marketers have insight about their customers,
but lack the capacity to engage meaningfully based
on this insight. Great insight, without the ability to
execute in a timely fashion, is frustrating. Moreover,
advanced audience selection, without scalable
personalization of the offer and creative, is like trying
to applaud with one hand – impossible to generate
the desired outcome.
Meanwhile, many firms’ marketing tactics are the
equivalent of a home theater system, designed
for surround sound, but in reality producing
different sounds from each speaker. The cacophony
of disjointed and often conflicting experiences
undermines many a brand-building strategy. No
wonder brand loyalty is at an all-time low.
Most organizations have an opportunity to redirect
15%–30% of their marketing spend to higher-
performing alternatives. But these results won’t
be achievable via traditional approaches. A new
capability model for driving customer engagement
in a connected world is needed.
5. Let’s explore each of these concepts
more fully, and highlight key
requirements to maximize success.
ACXIOM WHITE PAPER: THE MOMENT OF TRUTH 5
A CAPABILITY MODEL
FOR DRIVING CUSTOMER
ENGAGEMENT
NEW CHALLENGES REQUIRE NEW CAPABILITIES.
Through our experience with thousands of brands and billions of consumer
interactions, Acxiom has cultivated a capability model targeted at optimizing
customer value at every interaction.
This capability model is grounded in four interrelated concepts:
1 BROADCASTING TRANSITIONS
TO NARROWCASTING.
In this model, advertising reaches desired
audiences, and just them, across media.
For the first time, advertisers marry their
own extensive consumer insights with
those of their media/publishing partners
in a privacy-assured manner. This enables
marketers to focus on the most valuable
relationships while reducing investment
in less-desirable options.
2 MULTIDIMENSIONAL INSIGHT
FILTERS OUT FALSE SIGNALS
No one single perspective into consumer
behavior is “the answer” – not online
activity-alone, nor purchase behavior
alone, nor attitudes alone. Reliance on
a single dimension inevitably provides
false signals about consumer behavior
that waste advertising, or worse, harm the
brand. Multidimensional insight filters
out these false signals.
3 MARKETING CENTRAL
NERVOUS SYSTEM
To narrowcast against multidimensional
consumer insight requires a marketing
central nervous system, a synapse that
sends and receives signals about consumer
behavior, then automatically recalibrates
on actual consumer behavior. A marketing
central nervous system transforms
campaigns into conversations.
4 PERSONALIZED AND
COORDINATED ENGAGEMENT
This final concept focuses on the moment
of truth, when consumers engage with
brands. Proper audience selection is only
part of the answer. Leaders fuse insight
into the experience to drive a higher
probability of achieving a service or
marketing objective.
6. ACXIOM WHITE PAPER: THE MOMENT OF TRUTH 6
A CAPABILITY MODEL
FOR DRIVING CUSTOMER
ENGAGEMENT
REACH AND ENGAGE YOUR AUDIENCE
Reaching and engaging your audience, and just them, reflects the needed transition from
broadcasting to narrowcasting.
TOP 20% OF CUSTOMERS MAKE 500% OF PROFIT.
BOTTOM 30% CONSUMES 400%.
KNOW THE DIFFERENCE.
REACH YOUR AUDIENCE ACROSS MEDIA.
LEVERAGE A SAFE HAVEN IN CONCERT
WITH PREFERRED MEDIA PARTNERS.
A key underlying principle is recognizing the differentiated
value of customer relationships so that investment may be
prioritized. Some customers cost less to acquire, buy more, stay
longer, have lower service costs, and provide recommendations
to their friends. Research indicates that, on average, just 20%
of customers are profitable, with the bottom 30% consuming
four times annual profit. Progressive marketers will narrowcast
predominantly to those relationships that drive the highest
customer lifetime value. That way, the inherent waste in
broadcasting is dramatically reduced.
However, how an audience is defined matters greatly. Most
advertisers cultivate deep insights about their preferred audience
– their customers’ value, transaction history, price sensitivity,
brand affinity, in-market timing, preferences, and much more.
These insights are unique to the advertiser, the result of millions
invested in research and information systems, and a frequent
source of competitive advantage. While media properties or
networks offer audiences of their own, these are a poor substitute
for the advertiser’s own insights.
Most advertisers want to narrowcast based upon their own
insights. However, until recently, advertising was a broadcast
world – it simply wasn’t possible to reach just their audience.
Now, with the advent of “safe haven” models like Acxiom’s
Audience Management System, advertisers and publishers can
responsibly match and “anonymize” sensitive information across
addressable media. Rather than buying audiences defined by
someone else, narrowcasting relies on recognizing that a valuable
customer is on your media partner’s property now. The advertiser’s
choice is simple: do you want to make a buy, and if so, what do
you want to say? A major retailer, in concert with Yahoo!, saw an
11 to 1 return on ad spend, using this approach.9
A safe haven is critical. Advertisers and publishers alike, having
invested millions in consumer insight, need to limit distribution
of proprietary information for both risk and privacy reasons.
The inadvertent disclosure of proprietary insight could have
catastrophic impact. Moreover, advertisers and publishers can
diversify compliance responsibility in concert with the safe haven
provider. Finally, a safe haven can dramatically reduce cost and
accelerate cycle time if one works with a partner that has already
cultivated an expansive partnership ecosystem.
7. ACXIOM WHITE PAPER: THE MOMENT OF TRUTH 7
A CAPABILITY MODEL
FOR DRIVING CUSTOMER
ENGAGEMENT
MULTIDIMENSIONAL INSIGHT
Multidimensional insight filters out the false
signals of single-dimensional views.
Some say that only online behavior matters, like search or social
conversations. Others say that what customers actually do matters
most; for example, the recency, frequency, and value of their
purchases. Yet others say that customer attitudes and personas are
most important. It can be confusing for marketers to prioritize
among these conflicting views.
Each of these perspectives, while individually helpful, is in truth
incomplete. Searching online for plasma TVs ranks just 24th most
predictive for an actual purchase. Knowing all of your consumer
purchase behavior gives insight into 2% (or less) of the time even
your best customer spends with your brand – what about the other
98%? (And nearly 90% of consumers believe they are above average
looking or intelligent, a mathematical impossibility.) Sorry, there
are no silver bullets.
Multidimensional insight spans buyers’ online and offline
activity and attitudes to provide a complete perspective into
consumer behavior.
Leaders understand multidimensional insight variances across
media, channels, and time. In our experience, progressive
marketers focus on nine subcategories of multidimensional
insight:
• Relationship profile – customer segment history, product
ownership history, current and lifetime value, share of wallet,
and marketing budget by customer
• Interaction history – service, promotion, and response history
across channels
• Brand advocacy – net promoter score, degree of social
influence, brand metrics at a customer level
• Product propensities – propensities across the conversion
funnel, next-best product to sell, likelihood to recommend
• Media preferences – media consumption, explicit and implicit
preferences, context preferences, contact cadence strategy
• Channel preferences – shopping pathway, preferred buying
channel, preferred research channel, partner service channels
• Geodemographics – age, occupation, gender, location,
ethnicity, family/size of household, life stage, and
life event information
• Interests/attitudes – purchase intent by category, recreational
interests, social causes
• Monetary indicators – income, discretionary income, wealth,
real property indicators
A multidimensional view requires your strategy, analytics, and
creative resources to act differently. Marketing metrics, processes,
and skills all need to be updated.
Finally, multidimensional insight requires a scalable matching
and analytics engine to cost-effectively create these insights. It’s
not unusual to receive data from hundreds of sources inside and
outside your firm, each conceivably with its own formatting rules.
Moreover, nuggets of insight are often hidden in mountains
of noise. Best-practice matching not only checks to see if input
data is really about the same customer, but also compares it to a
knowledge base of previous customer behavior. The addition of a
knowledge base can increase the population of matched customer
information by 30%–35%.
COMBINE OFFLINE, ONLINE AND ATTITUDES
TO CREATE MULTIDIMENSIONAL CONSUMER INSIGHT.
RETOOL STRATEGY, CREATIVE AND ANALYTIC RESOURCES
TO THINK MULTIDIMENSIONALLY.
A HIGH-PERFORMANCE MATCHING ENGINE,
IDEALLY KNOWLEDGE-BASED AND
SUPPORTING ALL DIGITAL FORMATS IN REAL TIME,
IS ESSENTIAL.
8. ACXIOM WHITE PAPER: THE MOMENT OF TRUTH 8
A CAPABILITY MODEL
FOR DRIVING CUSTOMER
ENGAGEMENT
MARKETING CENTRAL
NERVOUS SYSTEM
The marketing central nervous system is the synapse that sends
and receives signals about customer behavior, then intelligently
recalibrates based upon what they do (or don’t do). The goal is to
remember every interaction and learn.
The concept of a single view of the customer is not new. So why
haven’t more firms achieved it? Of course, organizational design is
a major culprit – a unified customer goal is frequently undermined
by conflicting channel or product objectives. Moreover, the
dramatic increase in channels and media options, particularly
social and mobile, has simply overrun most organizations.
The marketing central nervous system also has broad ambitions –
to not only send signals that influence customers, but also to
sense behavior and intelligently respond. This has significant
technology implications. When customer behavior is influenced
or sensed, leaders deploy automated decision technology to
optimize the outcome.
A key strategy trade-off must be considered. Creating a single
physical customer data warehouse is unquestionably IT-efficient.
Unfortunately, it is also a multiyear undertaking, outside the
typical CMO tenure. A better strategy is to “play the data as it lies.”
By placing persistent customer identifiers on existing customer
data, marketers can have a logically integrated view of customers
in less than 9 months. The results of being “in-market” 1–2 years
faster dwarf the small premium in IT expense.
PERSONALIZED AND
COORDINATED ENGAGEMENT
Personalized and coordinated engagement addresses the moment
of truth, when customers are directly engaged with your brand.
Without the right experience, all that digital audience selection
is for naught. A personalized offer and/or creative, on the other
hand, can drive fourfold improvements in conversion. Leaders
will redirect funding from unproductive reach to fund these
personalization efforts. Coordination across channels and product
relationships is an essential, closely related concept. Surround-
sound marketing is the goal.
Effective listening to customers is an important by-product
of a personalized experience. Confirming or adjusting insight
about customers promotes a virtuous learning cycle. Listening
can be implicit, by observing customer behavior, or explicit, by
creating a preference center where customers directly share their
communication choices.
A high-performance personalization engine, integrated with the
marketing central nervous system, is the key systems requirement
to achieve personalized and coordinated engagement.
CORRELATE CONSUMER BEHAVIOR
WITH MARKETING
ACROSS CHANNELS OVER TIME.
SEND AND RECEIVE SIGNALS
THAT INFLUENCE
CUSTOMER BEHAVIOR.
PLAY THE DATA AS IT LIES.
CONDUCT CONVERSATIONS,
NOT JUST CAMPAIGNS.
FUSE INSIGHT
INTO THE “MOMENT OF TRUTH.”
A HIGH-PERFORMANCE
PERSONALIZATION AND
DECISION ENGINE
IS KEY.
HIGHLY ACCURATE
AUDIENCE RECOGNITION
IS ESSENTIAL.
9. ACXIOM WHITE PAPER: THE MOMENT OF TRUTH 9
A CAPABILITY MODEL
FOR DRIVING CUSTOMER
ENGAGEMENT
RESULTS
Embracing the capability model is a strategic decision, with potentially significant investment and resource implications. By leveraging
this model, some firms have already demonstrated in excess of $100 million in annual benefit. Importantly, each firm redirected existing
spend to fund the capability model.
CONCLUSIONS
The business of marketing and advertising has irrevocably changed, in large part due to technology-
fueled innovation. Consumers act differently, and with more power, in their relationships with brands. As a
result, tried and true marketing maxims simply are no longer true.
New conditions demand new approaches. A capability model for driving customer engagement in a connected
world harvests experience across thousands of brands and billions of consumer interactions.
By focusing on four interrelated concepts, marketers can redirect 15%–30% of spend to higher-performing
alternatives. Reaching and engaging your audience maximizes customer lifetime value and roots out
unproductive relationships. Multidimensional insight filters out false signals that waste advertising and harm
brands. A marketing central nervous system recalibrates programs based on actual customer behavior. Finally,
personalized and coordinated engagement ensures your brand is optimized at the moment of truth, when
customers interact- with your brand. Together, these four concepts comprise a capability model proven to
optimize customer value at every interaction
To learn how Acxiom’s Capability Model can increase your ROI
and reduce wasted media spend, call 1.888.3ACXIOM (1.888.322.9466)
or visit www.acxiom.com.
ABOUT ACXIOM
Acxiom is a marketing services and technology firm focused on customer and audience engagement. It serves 8,800 customers in 40 countries
around the world. Acxiom is the #1 agency in the U.S. (AdAge), the #3 innovative user of technology in business services and consulting category
(Information Week 500), and #1 in client satisfaction (leading market research firm).
(1) Briggs, Rex and Stuart, Greg. What Sticks: Why Most Advertising Fails and How to Guarantee Yours Succeeds, Kaplan Business, September 1, 2006 . (2) Forrester Research, Profiling The Multichannel Consumer,
July 29, 2010. (3) Forrester Consulting, “2009 Channel Preferences Survey”, September 24, 2009. (4) Bain & Company, Closing the Delivery Gap, 2005. (5)ComScore, March 2009: Research from eight U.S. brand
campaigns with budgets between $400,000 and $2 million. (6) Sapient Interactive, Smart Agency Survey, 2009. (7) Samsung Electronics, Local Market Survey, October 2009. (8) Forrester – Midyear Planning: Predictions
For 2011, July 29th, 2010. (9) Yahoo! 2009.
Technology Firm – $200 million incremental
revenue/year, $4.5 million operating expense savings.
Keyinsight:frequentlyaskedquestionsandsmallordersprovide
fodderforaneffectivelifecyclemessagingprogram.
Retail Bank – $100 million pre-tax profit impact
per year. Keyinsight:Multidimensionalinsightuncovers
previouslyoverlookedopportunities.
Consumer Goods Firm – $500 million gross
profit impact per year. Keyinsight:creatinganenterprise
marketingcentralnervoussystemtoprioritizemarketingspend
reducesunproductivespend,whileincreasingsales.