New research indicates when brands don’t
connect customer data with marketing
efforts, the results are inconsistent
engagement that leads to lost opportunities,
diminished results, eroded margins and
fleeting brand value…engendering a loyalty
divide. Consumers demand better, authentic
connections based on value and brands
must deliver. Savvy marketers blend data
from multiple sources to provide customer
engagement that is authentic, relevant and
consistent to the brand, nurturing comfort,
familiarity, safety and trust – thus increasing
loyalty with their customers.
White paper - Customer Experience TransformationPablo Junco
This white paper highlights the business value of customer experience as a differentiator and explores three critical enablers to guide organizations embarking on the transformation journey.
"Real loyalty isn’t created at the close of the sale. It’s created when the brand & the customer become intimate through multiple interactions before, during & after the purchase." Read more in Aimia's report, 'Rewarding Interactions; Are You Ready for Customer Intimacy'
The Changing Nature of the Customer Relationship by North HighlanddBrooke Novak
Things have changed with the way the customer experience is enacted. Success has less to do with big strategic decisions and more to do with practical, everyday operational decisions – and then getting them implemented. Customers have more control – much more. Product information, peer reviews and ratings, even competitors are all just a click away. This increased transparency puts brand promises to the test. And, whether you are B2C or B2B, your customers have become accustomed to personalized services, relevant and personalized offers, and customizable capabilities. All on demand. How do you meet these demands – let alone exceed them? This paper explores considerations on how to harness the power of digital information on the front line of the customer relationship to power your competitive edge through to your bottom line.
CCF provides near real-time insights into the customer experience and journey that previously could only be obtained through labor-intensive and time-consuming traditional research techniques. By applying predictive technologies to social data, SDL gives companies the means to better understand what customers care about, the reasons behind their actions, their attitudes and triggers for their behaviors, all of which can effectively translate audience experiences into strategic opportunities.
White paper - Customer Experience TransformationPablo Junco
This white paper highlights the business value of customer experience as a differentiator and explores three critical enablers to guide organizations embarking on the transformation journey.
"Real loyalty isn’t created at the close of the sale. It’s created when the brand & the customer become intimate through multiple interactions before, during & after the purchase." Read more in Aimia's report, 'Rewarding Interactions; Are You Ready for Customer Intimacy'
The Changing Nature of the Customer Relationship by North HighlanddBrooke Novak
Things have changed with the way the customer experience is enacted. Success has less to do with big strategic decisions and more to do with practical, everyday operational decisions – and then getting them implemented. Customers have more control – much more. Product information, peer reviews and ratings, even competitors are all just a click away. This increased transparency puts brand promises to the test. And, whether you are B2C or B2B, your customers have become accustomed to personalized services, relevant and personalized offers, and customizable capabilities. All on demand. How do you meet these demands – let alone exceed them? This paper explores considerations on how to harness the power of digital information on the front line of the customer relationship to power your competitive edge through to your bottom line.
CCF provides near real-time insights into the customer experience and journey that previously could only be obtained through labor-intensive and time-consuming traditional research techniques. By applying predictive technologies to social data, SDL gives companies the means to better understand what customers care about, the reasons behind their actions, their attitudes and triggers for their behaviors, all of which can effectively translate audience experiences into strategic opportunities.
Behavioral loyalty is at the core of most loyalty programs today. Customers make a purchase or provide information in exchange for a reward. This is as valuable today as ever, but it’s also no longer enough. In addition to rewarding customers for transactions and information, companies also need to reward customers for interactions—specifically, social interactions that translate to engagement and advocacy. In other words, organizations must find creative ways to use their loyalty programs to foster attitudinal loyalty; to build and capitalize on the emotional connections engaged customers have with their preferred brands.
This presentation discusses the benefits and drawbacks of rewarding customers for such behaviors and transactions and information sharing, as well as the challenges and opportunities of rewarding customers for actions that show genuine engagement and advocacy. It also examines the competitive advantage companies can create by building a loyalty program that rewards customers for all three, as well as how to do so
Moving Beyond Social CRM with the Customer Brand ScoreCognizant
Travel and hospitality organizations can boost customer loyalty by better understanding customer behaviors and attitudes and leveraging social media to create an army of brand advocates.
Get Loyalty Smart - Sectors of Opportunityemmersons1
Brands are starting to rethink what loyalty means for their customers, and this week, we look at a the range of strategies that different sectors are adopting.
Cracking the Code on Insurance Company Customer LoyaltyCalabrio
It’s no longer simply about answering phones. As today’s insurance companies increasingly move toward direct-to-consumer distribution models, smart contact center leaders know the immense value they provide to their organization.
But how can they continually prove the contact center’s value to their company? And how can they use key voice of the customer data to unlock critical insights? More importantly, how can they use these insights to drive business success?
This SlideShare is a must-read for any insurance company focused on solving challenges facing insurers, improving the customer experience and making the contact center count.
Gary Vaynerchuk's advice can be found here: http://www.youtube.com/watch?v=TLZDzFKKwZw
BBC's Monitor Me can be found here: http://www.youtube.com/watch?v=aJlMwBaGcsk
Third Eye Project can be found here: http://www.youtube.com/watch?v=gbTQb1Hdp6U
A Pinpoint Systems Corporation white paper discussing how companies must transform from being about them to being about the customer by:
-Committing to a philosophical and cultural shift
-Centralizing the 360° view of customer information
-Enabling intelligent outreach
-Enabling intelligent dialog
To support organizations in making the transformation from a product- and channel- focused organization to one focused on the customer, Pinpoint Systems has applied their expertise in the customer-centric space to create the Marketing System of Record solution, powered by the efficiency of the IBM Enterprise Marketing Management platform.
The tracking features of the solution allow analysts to complete these tasks:
• Attribute customer actions to specific campaigns and target cells.
• Use campaign and response history for audience selection and segmentation.
• Compute standard campaign performance metrics.
• Automatically report those metrics, as well as emerging sales trends, to product managers and other stakeholders.
1. Connect your CRM data. Don’t just collect it and keep it in silos.
2. Invest more in mobile. Mobile targeting and ROI are looking better than ever.
3. Personalize. It’s the big pay-off of all that data and analysis.
4. Measure, measure, measure. Know what works and double down.
5. Be up front about privacy. Consider the other side of targeting.
Delivering on the one-to-one promise is not a one-time exercise. It's an ongoing pursuit that is continuously measured and refined. Learn the ten critical success factors to cultivating profitable customer relationships. We share these with you as key benchmarks to any successful loyalty marketing program.
More CRM and Loyalty Marketing Resources
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Systematic New Loyalty Program Development: http://www.customerinsightgroup.com/systematic-new-loyalty-program
Pinterest: http://pinterest.com/engagekeepgrow/
Who is Customer Insight Group?
Customer Insight Group, Inc. leads the way in the evolution of how companies engage their customers, positively motivate them and earn their long-term loyalty. Our extensive client work is testimony to our depth of knowledge and ability to apply strategic insight and solutions to a wide variety of business objectives. Our team’s client experience includes: NHFA, Thomasville Furniture, The Maxim Group Carpet Franchise, Ashro, A&P, The Bon Ton, Crate & Barrel, Dick’s Sporting Goods, Edwin Watts Golf, GE Consumer Finance, Monroe and Main, Swiss Colony, Midnight Velvet, MySwingle.com, The Great Indoors, G.H. Bass, Golf Galaxy, Helzberg Diamonds, HSBC, Kohl’s, La-z-boy Furniture Franchise, MCI, Payless ShoeSource, Pier 1 Imports, Petco, Proflowers.com, Regis University, Ruby Tuesday, S&K Menswear, Sierra Trading Post, Stein Mart, Tommy Hilfiger, Ulta, as well as various other leading companies.
The Changing Nature of the Customer Relationshipmichellereape
This paper explores considerations on how to harness the power of the customer relationship on the front lines to power our clients’ competitive edge through to their bottom line
How to Audit Your Loyalty Marketing StrategiesSallie Burnett
Consumers have so many choices in the world and generally edit their possibilities and maintain their own manageable menu of brands they trust. These brands are said to be in the “inner circle”. The inner circle is like your favorites or bookmark list on your computer. In our age of information and global competition, companies are looking to loyalty programs to put themselves in the customer’s inner circle.
So how can you strengthen the customer’s connection with the brand and putt you in the customers inner circle of favorite brands? Find out in this new complimentary white paper by Customer Insight Group, Inc.
Behavioral loyalty is at the core of most loyalty programs today. Customers make a purchase or provide information in exchange for a reward. This is as valuable today as ever, but it’s also no longer enough. In addition to rewarding customers for transactions and information, companies also need to reward customers for interactions—specifically, social interactions that translate to engagement and advocacy. In other words, organizations must find creative ways to use their loyalty programs to foster attitudinal loyalty; to build and capitalize on the emotional connections engaged customers have with their preferred brands.
This presentation discusses the benefits and drawbacks of rewarding customers for such behaviors and transactions and information sharing, as well as the challenges and opportunities of rewarding customers for actions that show genuine engagement and advocacy. It also examines the competitive advantage companies can create by building a loyalty program that rewards customers for all three, as well as how to do so
Moving Beyond Social CRM with the Customer Brand ScoreCognizant
Travel and hospitality organizations can boost customer loyalty by better understanding customer behaviors and attitudes and leveraging social media to create an army of brand advocates.
Get Loyalty Smart - Sectors of Opportunityemmersons1
Brands are starting to rethink what loyalty means for their customers, and this week, we look at a the range of strategies that different sectors are adopting.
Cracking the Code on Insurance Company Customer LoyaltyCalabrio
It’s no longer simply about answering phones. As today’s insurance companies increasingly move toward direct-to-consumer distribution models, smart contact center leaders know the immense value they provide to their organization.
But how can they continually prove the contact center’s value to their company? And how can they use key voice of the customer data to unlock critical insights? More importantly, how can they use these insights to drive business success?
This SlideShare is a must-read for any insurance company focused on solving challenges facing insurers, improving the customer experience and making the contact center count.
Gary Vaynerchuk's advice can be found here: http://www.youtube.com/watch?v=TLZDzFKKwZw
BBC's Monitor Me can be found here: http://www.youtube.com/watch?v=aJlMwBaGcsk
Third Eye Project can be found here: http://www.youtube.com/watch?v=gbTQb1Hdp6U
A Pinpoint Systems Corporation white paper discussing how companies must transform from being about them to being about the customer by:
-Committing to a philosophical and cultural shift
-Centralizing the 360° view of customer information
-Enabling intelligent outreach
-Enabling intelligent dialog
To support organizations in making the transformation from a product- and channel- focused organization to one focused on the customer, Pinpoint Systems has applied their expertise in the customer-centric space to create the Marketing System of Record solution, powered by the efficiency of the IBM Enterprise Marketing Management platform.
The tracking features of the solution allow analysts to complete these tasks:
• Attribute customer actions to specific campaigns and target cells.
• Use campaign and response history for audience selection and segmentation.
• Compute standard campaign performance metrics.
• Automatically report those metrics, as well as emerging sales trends, to product managers and other stakeholders.
1. Connect your CRM data. Don’t just collect it and keep it in silos.
2. Invest more in mobile. Mobile targeting and ROI are looking better than ever.
3. Personalize. It’s the big pay-off of all that data and analysis.
4. Measure, measure, measure. Know what works and double down.
5. Be up front about privacy. Consider the other side of targeting.
Delivering on the one-to-one promise is not a one-time exercise. It's an ongoing pursuit that is continuously measured and refined. Learn the ten critical success factors to cultivating profitable customer relationships. We share these with you as key benchmarks to any successful loyalty marketing program.
More CRM and Loyalty Marketing Resources
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Systematic New Loyalty Program Development: http://www.customerinsightgroup.com/systematic-new-loyalty-program
Pinterest: http://pinterest.com/engagekeepgrow/
Who is Customer Insight Group?
Customer Insight Group, Inc. leads the way in the evolution of how companies engage their customers, positively motivate them and earn their long-term loyalty. Our extensive client work is testimony to our depth of knowledge and ability to apply strategic insight and solutions to a wide variety of business objectives. Our team’s client experience includes: NHFA, Thomasville Furniture, The Maxim Group Carpet Franchise, Ashro, A&P, The Bon Ton, Crate & Barrel, Dick’s Sporting Goods, Edwin Watts Golf, GE Consumer Finance, Monroe and Main, Swiss Colony, Midnight Velvet, MySwingle.com, The Great Indoors, G.H. Bass, Golf Galaxy, Helzberg Diamonds, HSBC, Kohl’s, La-z-boy Furniture Franchise, MCI, Payless ShoeSource, Pier 1 Imports, Petco, Proflowers.com, Regis University, Ruby Tuesday, S&K Menswear, Sierra Trading Post, Stein Mart, Tommy Hilfiger, Ulta, as well as various other leading companies.
The Changing Nature of the Customer Relationshipmichellereape
This paper explores considerations on how to harness the power of the customer relationship on the front lines to power our clients’ competitive edge through to their bottom line
How to Audit Your Loyalty Marketing StrategiesSallie Burnett
Consumers have so many choices in the world and generally edit their possibilities and maintain their own manageable menu of brands they trust. These brands are said to be in the “inner circle”. The inner circle is like your favorites or bookmark list on your computer. In our age of information and global competition, companies are looking to loyalty programs to put themselves in the customer’s inner circle.
So how can you strengthen the customer’s connection with the brand and putt you in the customers inner circle of favorite brands? Find out in this new complimentary white paper by Customer Insight Group, Inc.
The term “inflection point” has multiple definitions. In differential calculus, an inflection point is a point on a curve at which the concavity changes from positive curvature to
negative curvature, or vice versa. In political science, an inflection point is a moment in history that dramatically alters a geopolitical situation, for better or worse. In business, Intel co-founder Andy Grove has described a strategic inflection point as “an event that changes the way we think and act.” Each of these definitions describes a moment at which our fortunes change — and in many cases, we can’t recognize the moment until
after it’s passed.
The Role of Transparency & Authenticity in Building a Trusted Brandahadden
Presented at the Brand Strategy Innovation Summit | Sept 11 | Los Angeles
by Alison Hadden, Head of Brand Strategy at Glassdoor
If a brand is defined by the place it holds in the heart, mind, and wallet of its customers, trust is the currency exchanged at the core of this relationship. Gain trust with your customers and brand loyalty is yours. Lose it and you’re forced into a transactional relationship that turns your brand into yet another commodity.
Now, new digital technologies and the emergence of the sharing economy have brought transparency and authenticity to the forefront of the conversation around brand health and the development of a trusted brand.
Learn how legacy and newcomer brands are quickly establishing trust with consumers and its impact on brand health, awareness, and business performance.
Patient Loyalty: What it Takes to Earn Their Loyalty Sallie Burnett
Patient Loyalty Is Up for Grabs
Recent research showed consumers are just as likely to switch healthcare providers as hotels if they don’t get responsiveness and convenience. In fact, 61% would switch providers to get an appointment quickly. 52% would switch to get an appointment at a convenient location.
Those healthcare providers that develop strategies, capabilities and analytics to enable the key elements of a superior patient experience—speed to access, convenience, information transparency and personalized service— will be best positioned to outperform their peers.
This presentation gives you insight into the current healthcare marketplace and seven best practices for building patient loyalty.
191 Castro Street, 2nd Floor, Mountain View, CA 94041 P 6.docxfelicidaddinwoodie
191 Castro Street, 2nd Floor, Mountain View, CA 94041 | P: 650-532-8155 | E: [email protected] | 1
CUSTOMER INTELLIGENCE:
THE KEY TO KEEPING
SAAS/CLOUD CUSTOMERS
There is good news and bad news for software
companies in the shift to the software subscription
model of the Cloud. The good news is that
revenues have become much more predictable and
stable. The bad news is that you have to keep
reselling the sale in order to retain those customer
income streams over time. The good news is that
there is more available data than ever before about
your customers. The bad news is that the data is
scattered all over the company and is therefore not
easily accessible.
The good news is that adding and supporting
application features and functionality is easier to do
in the Cloud. The bad news is that your
competitors will soon be adding those same
features to their applications too. The meaning is
clear. In the SaaS/Cloud business model, what is
really being sold is a relationship rather than
technological features & functions, and keeping that
relationship profitably going for as long as possible is
the core issue for long-term success as SaaS
company.
1
W
hi
te
pa
pe
r
Why should a SaaS company, especially if they think that they’re in their “land-grab” phase and therefore don’t have time
or resources to worry about churn at this point, invest time and money now in building dedicated customer retention
resources?
SaaS-Capital, a provider of debt-based growth capital for SaaS companies, answers the question. Churn is a cumulative
beast. The income that you lost last quarter continues to be lost next year and the year after. Consider their model of
two SaaS companies. Both sell only software subscriptions; no other income conduit is included. Both sign 10 new
customers per month @ $1,000.00 each. Both spend $120K per month on sales & marketing to acquire those
relationships (CAC). The only difference between them is that one has a customer retention rate of 95%; the other’s
only 80%. At the end of 5 years, the difference in bottom-line company valuation between the two was $15 million
dollars. Along the way, the company with the 95% retention rate also had increased revenues to work with, up to $24K
per month. That’s a lot of money – your money – both now and later.
THE HUGE COST OF CHURN
THE NEED TO KNOW
To make the initial sale, you needed to know quite a
bit about your prospective customer. What were
their business needs and requirements? Who were
the decision makers and influencers? What were
the timetable and the budget factors? All of that
knowledge and more made the signature on the
first contract possible. To get the renewal
signatures, however, you’ll have to keep that data up
to date and to add to it. Customer Intelligence is a
process that can’t have an end. It’s what you don’t
know about your customer relationships that can
cause you to lose them.
If the key ...
Start your journey to personalising the customer experience.
This guide will challenge you to do some housekeeping and reconsider how you think about your current and future loyalty personalisation efforts.
suitecx Thought Leadership: Balancing Customer Needssuitecx
While research has proven that a focus on improving customer experience directly impacts the bottom line, achieving the organizational and cultural change required to become fully customer centric is not an easy process. It is critical to get all key departments aligned on your customer experience strategy.
Similar to Acxiom_LOYALTY IN TODAY’S MARKETPLACE DEMANDS BETTER CONNECTIONS WITH CUSTOMERS (20)
The online advertising industry is currently based on two dominant
business models: the pay-per-impression model and the pay-per-click model.
With the growth of sponsored search during the last few years, there has been a
move toward the pay-per-click model as it decreases the risk to small advertisers.
An alternative model, discussed but not widely used in the advertising industry,
is pay-per-conversion, or more generally, pay-per-action. In this paper, we dis-
cuss various challenges involved in designing mechanisms for the pay-per-action
model, and approaches to tackle some of them.
As digital marketers, you’re faced with a daunting threefold challenge
when it comes to your email program: how to make your emails
more relevant to people exposed to as many as 30,000 commercial
messages a day1, how to drive more revenue, and how to do so while
stretching your precious resources further than ever.
Enter automated (“triggered”) email programs, which are typically
the highest-performing approach for email marketers — and often
the equivalent of printing money, though thankfully without having to
actually enter into the illegal counterfeiting business.
Unlike traditional broadcast campaigns, in which the marketer
decides when to send a message, triggered emails involve setting
up business rules that require a criterion (or multiple criteria) be met
before a message is sent. In other words, the buyer is the driving force
behind the timing of the email, with his or her behaviors, interests or
demographics automatically triggering the message send.
While more than 50% of mobile phone users in the U.S are smartphone
users according to comScore, most phones sporting a 4G antenna are
pricier than their 3G counterparts. Examining smartphone Web usage
across North America, Chitika Insights found that 4G phones contribute
to about 30% of the total traffic from all North American smartphones.
Within the 4G group, users of newer phones, specifically released after
July 2012, generated 53% of continental 4G smartphone traffic.
New research, undertaken by
leading cloud contact centre vendor
NewVoiceMedia, provides a snapshot
of attitudes to customer service in the
UK. Offering a compelling view of the
consequences of poor customer service,
the results reveal that an estimated
£12 billion is lost by UK companies each
year following an inadequate customer
experience.
The environment in which today's
brands connect and build loyalty with
their customers and program Members are
markedly different than the environment that
existed even a few short years ago. In fact, it
is markedly different than it was even just a
year ago. The pace at which today’s marketing
landscape is changing is remarkable – there
is a chronic torrent of macro trends exerting
their influences on the market. Economic,
social, technological, and political factors
are affecting brand loyalty and programs,
Members’ interactions with programs, how
Members perceive programs, as well as
the role that programs play in the lives
of consumers.
Social CEOs are gaining traction. Weber Shandwick’s 2012 audit of the online engagement activities of the world’s top CEOs (Socializing Your CEO II) found that CEO sociability increased from 36% to 66% between 2010 and 2012.
Email is quickly becoming the preferred method of communication for businesses across the
world, regardless of industry. Email is faster and less expensive than traditional mail, and many
customers choose to receive messages from the companies they do business with through the
email channel.
Today, customers move constantly between the online and offline worlds, using a range of devices
— such as smartphones and tablets — that didn’t exist a few short years ago. Thousands of
applications and dozens of social media platforms collect and transmit an unprecedented amount of
structured and unstructured data1, and API changes are a fact of life. The volatility of social data and
the pace of change mean that tried-and-true measurement methods are no longer enough. Social
data is different. The old rules don’t apply.
AMA_Corporate Attitudes and Adoption Trends of Multi-Channel and Omni-Channel...Scott Valentine, MBA, CSPO
Recognizing the need for insights into multi-channel use and OCM adoption,
Platt Retail Institute (PRI), in cooperation with the American Marketing
Association (AMA), and with the generous support of hybris software, decided
to undertake a survey of a portion of the AMA audience in January 2013. In
general, the purpose for conducting this research was:
1. To understand current and future marketing channel usage. As most
firms use various methods to reach their customers, we desire to gain
insights into current and future utilization, budget allocation, and
perceived channel ROI.
2. As organizations are being driven to adopt a more integrated marketing
approach, we desire to learn whether OCM strategies are being
implemented, or if there are plans to implement them within the next
three years. Underlying factors that are driving these plans, as well as
budgets allocated to implement these programs, were also considered.
The study also identifies the most significant business challenges faced
when implementing an OCM strategy, as well as who is primarily
responsible for making the decision to implement an OCM solution.
Businesses face a multitude of challenges in today’s environment. The overall speed of business is constantly increasing. Decisions are made within minutes and channels are diversifying rapidly. Perhaps most importantly, face-to-face interaction has started to become a luxury, rather than a necessity or consequence of everyday behavior.
Consumers continued to become more technologically savvy in 2012. Tablets, smartphones and even traditional computers all worked in tandem to help customers shop. Today’s digital marketers must adapt and evolve their messages to speak to this customer across multiple channels or devices.
The Marketing Strategists from Bronto’s Professional Services team are on the front lines of digital marketing; they help clients drive sales by optimizing and evolving email, mobile and social programs. Each strategist looks into the future and shares his or her predictions for upcoming trends and the tools that will be essential in 2013.
The time for big brands to get strategic about marketing their apps is now. Mobile apps are no longer standalone entities for big brands. What we’re now seeing is brands integrating mobile apps into their business models and their overall marketing strategies -- to build closer customer relationships and drive business.
It’s no longer enough for brands to just have an app (or a suite of apps) and promote it through traditional channels. Now that brands recognize the impact mobile apps are having on business, their focus is shifting to employ a strategic marketing approach to their apps.
All this means that big brands are starting to treat their apps as more than just another channel – they’re treating them as a business. And they’re getting serious about marketing their apps, by putting the marketing resources behind them and incorporating apps as part of their ongoing strategy.
Top-tier brands like Coca Cola®, Sephora®, Wal-Mart®, and many more are all publically talking about the central role apps play in their marketing strategy. Here, we’ll describe what some of those brands are doing, how they’re doing it, and outline 10 strategic moves brands are employing to get more strategic about their mobile apps.
We are entering into a golden age of content and media. Today, media companies are
investing huge sums of money in non-traditional media delivery options, start-ups are
innovating and redefining how the content industry works, and consumers are demanding
and expecting access to virtually any content on any device at any time. This includes media
and entertainment content, but also corporate, social, marketing and personal media. The
tectonic shifts happening in the media and content world are going to irreversibly reshape
how companies and consumers create, display, view and consume content.
A leading global hotelier is using real-time marketing to enhance loyalty and increase the amount of money spent during each hotel visit. A major financial institution is using event-triggered transactional and real-time communications to increase product penetration and turn customer behaviors into profitable product investments. These are just two real-world examples of the impact of real-time marketing.
To Monetize Open Social Networks, Invite Customers to Be More Than Just “Frie...Scott Valentine, MBA, CSPO
New research asserts that consumers want deeper connections with brands — but open social networks are not where they want to build these connections. Instead, marketers need to invite their “friends” into a branded customer community that converts them into buyers, advocates, and long-term customers.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
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Acxiom_LOYALTY IN TODAY’S MARKETPLACE DEMANDS BETTER CONNECTIONS WITH CUSTOMERS
1. The
LOYALTY
DIVIDE
LOYALTY IN TODAY’S MARKETPLACE DEMANDS
BETTER CONNECTIONS WITH CUSTOMERS
2. EXECUTIVE SUMMARY
New research indicates when brands don’t “The Loyalty Divide” is a follow-up to a previous Loyalty 360/ Acxiom
paper titled, “Making Every Interaction Count: How Customer Intelligence
connect customer data with marketing
Drives Customer Loyalty,” which revealed that brands have the ability to
efforts, the results are inconsistent collect a treasure trove of customer preferences, behavioral insights and
engagement that leads to lost opportunities, predictive analytics and can apply this soup of information to all customers,
diminished results, eroded margins and and not just those in their loyalty programs. However, while marketers
fleeting brand value…engendering a loyalty know they need to use data to better retain customers, the reality is most
are not making optimal use of it to improve marketing results or their
divide. Consumers demand better, authentic
customers’ experiences.
connections based on value and brands
The good news is that marketers are making incremental progress by
must deliver. Savvy marketers blend data adopting new marketing technologies and are trying to use customer data
from multiple sources to provide customer to improve results and make each customer interaction important. The
engagement that is authentic, relevant and desire to do great things with customer data was consistent across the
consistent to the brand, nurturing comfort, entire sample. However, desire and ability are not the same. Success is
prevented by lack of sufficient funding to access and use precious customer
familiarity, safety and trust – thus increasing
data.
loyalty with their customers.
IN THIS UPDATE, WE EXPLORE WHAT SEEMS TO BE
A WIDENING DIVIDE BETWEEN MARKETERS AND
CUSTOMERS’ PERCEPTIONS OF LOYALTY. BRANDS
DON’T OFFER LOYALTY. CONSUMERS GRANT IT.
In late 2012, we surveyed 130 marketing executives from a myriad
of industries. Nearly three-quarters of respondents were in audience
analysis and measurement, with the remainder in broader marketing
and sales roles. We inquired how they’re using customer data to
understand what’s working, what’s not working, and to identify and
share best practices. Our sample included 110 survey respondents,
and 20 qualitative interviews with medium and large brands that
are successfully innovating in their loyalty programs by connecting
customer data with customer experiences.
HIGHLIGHTS OF THE RESULTS AND OUR
RECOMMENDATIONS FOLLOW.
2 Loyalty 360 / Acxiom White Paper • LOYALTY360.ORG The Loyalty Divide Loyalty in Today’s Marketplace Demands Better Connections with Customers
3. DESIRE AND ABILITY ARE
NOT THE SAME
OUR RESEARCH FOCUSED DEEPLY ON THE TOPIC OF Based on the survey results, we conclude that a narrow focus
LOYALTY AND THE CONNECTIONS NECESSARY TO NURTURE on one or two customer data points hinders the business. The
LOYAL RELATIONSHIPS. inability to connect and personalize customer experiences—
across channels and partners, and over time is divisive, not
What enables a brand to do “grand” things for people and
nurturing. Not understanding customer motivations and
to delight them? What enables individuals to live better and
experiences remove us from building connections because we
marketers to perform better? Are these things possible without
neither know, engage nor optimize relationships with customers.
knowing your customers through data? Does data—gathered
from all relevant sources and refined—enable brands to better
engage and optimize the relationship for all?
“ AVVY MARKETERS BLEND DATA FROM MULTIPLE SOURCES TO
S
PROVIDE CUSTOMER ENGAGEMENT THAT IS AUTHENTIC, RELEVANT
AND CONSISTENT TO THE BRAND, NURTURING COMFORT,
FAMILIARITY, SAFETY AND TRUST”
The Loyalty Divide Loyalty in Today’s Marketplace Demands Better Connections with Customers Loyalty 360/Acxiom White Paper • LOYALTY360.ORG 3
4. THE LOYALTY DIVIDE
ORIGINATES WITHIN
OUR RESEARCH CLEARLY INDICATED ONE KEY CHALLENGE:
MARKETERS RECOGNIZE THE BUSINESS VALUE OF ENGAGING
WITH CUSTOMERS BASED ON THEIR NEEDS AND EXPECTATIONS,
BUT MOST AREN’T GETTING IT DONE.
Marketers’ efforts are stymied because brands don’t devote the resources, LOYALTY SHOULD
technology or necessary budget. Too often, critically important data is
inaccessible and isolated within systems (e.g., service, finance or sales) that FOCUS ON
are difficult to integrate with marketing systems. This disconnect creates
the divide between loyalty as part of a holistic, customer-centric enterprise BEHAVIOR, AS
strategy, and loyalty as an afterthought. Loyalty should always be focused
LOYALTY MARKETERS
on behavior, as loyalty and engaged brand advocates exhibit a unique
and desired form of it for the brands they are engaged with. Disconnected AND ENGAGED
customer data leads to disconnected customer experiences, damaging
loyalty as a behavior potential. BRAND ADVOCATES
EXHIBIT A UNIQUE
AND DESIRED FORM
ARE HINDERED BY A LACK OF FEEL THE NEED TO ENGAGE
INFORMATION OR ACCESSIBILITY CUSTOMERS BASED ON THEIR OF IT FOR THOSE
TO CUSTOMER DATA NEEDS AND EXPECTATIONS
BRANDS WITH WHICH
56% 66%
THEY ARE ENGAGED.
OF MARKETERS OF MARKETERS
4 Loyalty 360 / Acxiom White Paper • LOYALTY360.ORG The Loyalty Divide Loyalty in Today’s Marketplace Demands Better Connections with Customers
5. SWIMMING IN A
SEA OF DATA
While marketers collect
lots of customer data from
many sources, a lack of
68% OF OUR SURVEY RESPONDENTS COLLECT OUTSIDE
CUSTOMER DATA FOR THEIR MARKETING CAMPAIGNS
coordination and integration
53%
DO NOT APPEND OR INTEGRATE 3RD PARTY DATA INTO
CUSTOMER RELATIONSHIP MANAGEMENT (CRM) EFFORTS;
widens the divide between ISOLATING THOSE RELATIONSHIPS FROM OUTSIDE INDICATORS
the loyalty that companies
want and the potential
loyalty that customers give.
87% DO NOT ACCOUNT FOR THE COST OF SERVICING CUSTOMERS WHEN
MARKETING TO THEM; THROWING A BLANKET SPEND OVER THEIR
CAMPAIGNS INSTEAD OF FOCUSING ON THE MOST VALUABLE CUSTOMERS
MANY MARKETERS ARE MISSING
THE DEEP, MEANINGFUL
UNDERSTANDINGS OF THEIR
72% OF MARKETERS DO NOT RECOGNIZE
AND LEVERAGE REFERRAL VALUE
AUDIENCE—NECESSARY TO
PERSONALIZE CREATIVE THAT
94% IGNORE INFLUENCER SCORES
ENGAGES AND PLEASES. FOR
EXAMPLE, IN OUR RESULTS:
89% DON’T USE NET PROMOTER SCORES FOR SEGMENTATION
AND MEASUREMENT, DISREGARDING SOME OF THE
STRONGEST INDICATORS OF LOYALTY THERE ARE
The reasons for these lost opportunities to increase customer understanding include; lack of easy access to data (85%), an unfulfilled
desire to locate and access all customer data in a single location (57%), and being limited to only using customer data available at
hand to drive engagement (46%). ON THE BRIGHT SIDE, OVER 55% OF MARKETERS ARE COLLECTING SOCIAL DATA. BUT,
THEY CONTINUE TO STUMBLE WHEN TRYING TO OPTIMIZE THIS INFORMATION WHEN SELECTING AUDIENCES AND
MEASURING RESULTS:
HAVE A HARD TIME ARE NOT COLLECTING
DO NOT
INTEGRATING AND SOCIAL DATA
RECOGNIZE THE
ACCESSING SOCIAL DATA REGARDING
REFERRAL VALUE
TO ACTIVATE ALL MEDIA COMPETING BRANDS.
75% 72% 70%
The Loyalty Divide Loyalty in Today’s Marketplace Demands Better Connections with Customers Loyalty 360/Acxiom White Paper • LOYALTY360.ORG 5
6. BRANDS THAT LACK BROAD-BASED, HOLISTIC CUSTOMER UNDERSTANDING ACROSS MULTIPLE
CHANNELS AND VARIOUS TOUCH POINTS, TO UNDERSTAND THEIR NEEDS AND POTENTIAL
LIFETIME VALUE, STRUGGLE TO CULTIVATE BETTER RELATIONSHIPS WITH THEM.
Sending irrelevant, inconsistent and disconnected messaging reinforces customers’ perceptions that “brands don’t know me”
and fosters large customer disloyalty and margin compression issues.
Consider that a majority of our respondents (63%) “always or frequently treat new customers the same when choosing
advertising media.” This reflects the bias toward acquisition versus retention. Are we surprised when customers say or act as
if “we don’t know them?” Consider that 99% of customers’ activities fall outside of your brand’s touch-points. How valuable
would it be to narrow that 99% gap?
Some individuals read the newspaper and watch sports while others listen to traditional radio and others subscribe to
satellite radio. One engages with Facebook and Twitter while another bounces around the Web unpredictably. Generally,
consumers may only engage with 5 to 6 brands in social media channels as they have finite capacities in this arena. Shouldn’t
all brands want to be part of their potential best customers’ consideration sets? Certainly! Yet still, social media is not
often well-blended into the marketing / loyalty mix because it’s hard for marketers to understand ‘social signals’ and use
them appropriately. There needs to be a concerted effort from the brand to converse with consumers vs. just to ‘push’ to
consumers.
DISCOUNTING ≠ LOYALTY
Savvy marketers invest in data analysis “frequently use price discounts” as part of
UNDERSTANDING
that yields the deep segmentation and their promotion mix. This relegates the issue
audience targeting necessary to recognize of trust between the brand and customers as THE WIDE VARIETY OF
valuable behaviors when customers will pay secondary in importance.
a premium for some things and on other AUDIENCE ATTITUDES
Marketers that indiscriminately use price
items, won’t budge on price. Understanding discounts underestimate the negative impact AND PREFERENCES
the wide variety of audience attitudes and to their retention efforts. If consumers
preferences reveals opportunities for brands perceive loyalty as a discount program REVEALS
to understand and act upon differences in only, they will buy only when they receive
price elasticity. discounts. Thus, marketers actually train
OPPORTUNITIES
In the early 1980’s, automobile dealers their customers to promiscuously shop FOR BRANDS TO
discovered that offering rebates increased based on price alone, instantly dumping
automobile sales and changed customer one brand over another, creating a behavior UNDERSTAND
behavior, but not loyalty. Customers that a brand will struggle to change. We
started to expect rebates and would rarely are taught in Marketing 101 to never focus
AND ACT UPON
consider a car without one. Yet, 47% of solely on price as a paradigm; it has the DIFFERENCES IN
our respondents use “everyday low prices” least amount of cache or uniqueness as a
as part of their core brand message, or, differentiator for the brand. PRICE ELASTICITY.
6 Loyalty 360 / Acxiom White Paper • LOYALTY360.ORG The Loyalty Divide Loyalty in Today’s Marketplace Demands Better Connections with Customers
7. CONSIDER THE NUMBER OF DAILY DEALS SITES THAT ENTICE MARKETERS WHO
CUSTOMERS TO BUY FROM A MERCHANT AT A STEEP DISCOUNT. ARE LIMITED TO MASS
MARKETING TACTICS
Many first time customers take advantage of be made much more effective if used wisely
HAVE VERY LOW
the deal, never to return. A 2012 Raymond in concert with targeting the best audience
James survey of more than 100 merchants likely to be a repeat customer.
RATES OF RETURN
found that 39% of merchants were not likely WITH RELATIVELY
Excessive reliance on discounts creates
to run another similar promotion for the expectations and reliance on them, which HIGH COSTS. What
next couple of years due to the low rate of about loyalty? Forget
erodes brand value because it incentivizes
repeat customers. 40% reported this was customers to look for the discount, rather about it. Brands need
less effective than other types of marketing than creating loyalty to the brand. Not all
where if the merchants instead used their to invest in relationships
companies have the necessary infrastructure
data to score and target their best audiences, to be the low-price leader. Any customer
proportional to the
they would likely have a higher success expected or potential
relationship built on low price only lasts until
rate of repeat customers using daily deals. a competitor offers a lower price. return opportunity of
Discounting isn’t necessarily bad, but could
the individual versus
the tried and true mass
media approach of
equal investment into all
potential participants.
CLOSING THE DIVIDE
A sporting goods store might tune its advertising during a down to all of the relevant buying signals. If brands properly
local sports telecast (e.g., Big Ten Network in the Midwest) and coordinate this information, they can get a more holistic, nuanced
through online and social media (e.g., NFL.com). However, view of the customer.
without access to customer information such as sales data, or, For example, take two customers who spend $200 a month at a
advocates following specific advertised promotions, they will big-box, do-it-yourself store. They may look the same in terms of
continue casting too wide a net and investing too much budget the transactional data immediately available from the company’s
for diminishing results. If instead they customized the local systems. One customer spends the same or more at similar stores
circular for their specific audience with the right mix of emails and in the area every month while the second customer has a smaller
display ads, they may see signs of increased customer activity. overall budget and spends only at that store. Which customer
In the digital age of empowered consumers, companies can’t could be more loyal? Armed with this data, a marketer would
afford to not have multidimensional insights into their customers’ know that earning the loyalty of the first customer could produce
habits and buying behaviors. No one signal will ever consistently more lifetime value than the second.
describe or predict consumer behavior, so it’s best to have as
many data elements as possible, then refine that information
The Loyalty Divide Loyalty in Today’s Marketplace Demands Better Connections with Customers Loyalty 360/Acxiom White Paper • LOYALTY360.ORG 7
8. OVERALL, BASED ON THIS MOST RECENT
RESEARCH AND OUR EXPERIENCE WORKING
WITH THOUSANDS OF BRANDS AROUND
THE WORLD, WE RECOMMEND THAT FIRMS
TAKE THE FOLLOWING ACTIONS TO CLOSE
THE LOYALTY DIVIDE:
Utilize all available customer data (finance, marketing, etc.)
1 to create useable information.
Collect data from outside the brand. Use the combined information to
2 optimize media and campaign decisions.
Make sure you can effectively recognize the consumer across all channels
3 and touch points they may have with your brand.
Activate and refine insights such as transactional, customer lifetime
4 value and net influencer scores to recognize your lifetime customers and
prospects who think, look and act like them.
Be aggressive but considerate when gathering customer information.
5 Just because a company can gather information doesn’t mean that it
should. Customers will happily provide certain information (e.g., zip code,
e-mail) as long as they know how it will be used and what type of value
it will provide back to them. But if it is misused, they will quickly distance
themselves from the brand. Remember that marketing should be to do
things for customers, not to customers.
Use data and insights to precisely determine which customers should
6 receive short term rewards (eg. daily deals) while seeking to build long-
term trust – this will make your marketing spend more effective.
Remember that loyalty marketing is a process. Making sure the data your
7 brand collects is accessible, integrated and usable is the key to refining
customer understanding and testing and measuring to get closer to
boosting marketing ROI, customer profitability and pricing power.
8 Loyalty 360 / Acxiom White Paper • LOYALTY360.ORG The Loyalty Divide Loyalty in Today’s Marketplace Demands Better Connections with Customers
9. ABOUT LOYALTY 360 ABOUT ACXIOM
Loyalty 360 is an unbiased, market driven, voice of the Acxiom is an enterprise data, analytics and software as a
customer focused clearinghouse and think tank that is service company that uniquely fuses trust, experience and
committed to bringing loyalty to the forefront as a critical scale to fuel data-driven results. For over 40 years, Acxiom
marketing strategy. A trusted source for cutting edge research, has been an innovator in harnessing every important source
best practices, and networking opportunities, Loyalty 360 and use of data to strengthen connections between people,
gives members the expert insights and guidance they need businesses and their partners. Utilizing a channel and media
to better understand loyalty and develop programs that neutral approach, we leverage cutting-edge, data-oriented
effectively engage their customers and employees and build products and services to maximize customer value. Every
stronger relationships with them. week, Acxiom powers more than a trillion transactions that
enable better living for people and better results for our
7,000+ global clients.
The Loyalty Divide Loyalty in Today’s Marketplace Demands Better Connections with Customers Loyalty 360/Acxiom White Paper • LOYALTY360.ORG 9