Watch this Addressable Customer Experience webinar here: http://bit.ly/1A52sqx
Addressable Customer Experience On-Demand Webinar Series - For Financial Services and Insurance Marketing Leaders
Webinar 2: Audience Insight and Strategy
Learn how to segment your audience base and develop a strategy that leverages audience insights to move each customer through his or her lifecycle and ultimately convert. Full of actionable instruction, this webinar will equip marketers to create a thoughtful and thorough strategy.
Addressable Customer Experience - Audience Insights and Strategy
1. Module 1:
Audience Insights and Strategy
Matt Naeger
EVP, Digital Strategy
Leah van Zelm
Principal Consultant
2. Source: Media Bistro Feb 2014
http://www.mediabistro.com/prnewser/what-are-americas-10-most-trusted-brands-and-why_b57512
What do these companies have in common?
3. • Companies are targeting the same audience, providing options
• Customers expect experiences
• Companies must respond across the customer journey
Commodity Product Service Experience
Today’s experience ecosystem is more complex than ever – more
media, more channels, and “always on.”
4. Increasing
shareholder
vaue
The real
opportunity is
to transform the
customer
experience
But the brands that can transform the customer experience
within this complex ecosystem will win.
Most
marketers
are focused
here
ShareholderValue
“Find me” “Amaze me”
Customer Experience Differentiation
“Know me”
5. FN1: The Business Impact Of Customer Experience, 2013by Maxie Schmidt-Subramanian, June 10, 2013
$136
Credit card providers
61 million customers
Insurance providers
15 million customers
Banks
15 million customers
$111
$14
Additional purchases
Churn reduction
Word of mouth
$162
$65
$9
$548
$290
$27
Advancing from a below average to an above average customer
experience is worth millions of dollars.
$866
million/yr
$262
million/yr
$237
million/yr
6. AIDEN
Context around insurance:
“ Flexibility Provides Value”
Context around brand choice:
“Simple Buying Leads to Good Life”
Connected Decision Map
Informs Context
7. Personalization Based on
Anonymous Data
Exposure Consideration
“Build cash value starting
now”
InsureCo Ad
Visits InsureCo.comRetargeted Display
“What age to get life insurance?”
Searches
For Insurance
“Good value from flexibility
for years to come”
Rated # 1 among…for simplicity
and flexibility
Informs
Informs
Captured Search Data
Browsing History
“Young Professionals”
bundle
Segment Specific Media
Buy and Message
8. Consideration
Quote
Save Quote?
Saved Quote is
Emailed & Texted
Recommended Coverage Levels
within the Bundle”
Social
Sign in
Decision Engine Drives
Coverage Recommendation
Cross-Device
Awareness
Retargeted
“Good value from innovative brand. Finally
insurance that’s understandable”
Enters basic information
Value Informs
Bid Amount
Save Quote
History
9. Apply Familiarize
One application for 3 product bundle
Email Reminder
Imagery related to “The Good Life” segment
“We’ll do the work, you go live ‘The
Good Life’”
Save time and hassle with the ‘Young
Professionals’ bundle”
Accepts Insurance
Offer and
determines
beneficiary Receives
Package
Starts Application
Determine
Beneficiaries
2 Days Later
Personalization
Email Content Is
Segment Focused
Electronic delivery for
self and beneficiary
Creative and Message Test
and Learn
10. Engage Follow-up
Visits InsureCo.com
Additional Coverage
Call Center
Reinforcement
Returning Customer Recognized
Social
Display
Remarketed
Shown “Newlywed Package”
Email Content Informed By
Customer History
Decision Engine
Determines New Coverage Recommendation
3 Years Later
Call Center Script Is
Segment Sensitive
Billing Question
11. W E P L A N T H I S : Sees ad Calls in Becomes a customer Loyalty
But how do organizations adapt to experiences in an
omni-channel world?
B U T C U S T O M E R S D O T H I S :
12. Adapting in an omni-channel world requires a disciplined
process.
• Enterprise Segmentation
• Behavioral triggers &
sequencing
• Lifecycle stages
• Value score
• Corporate
• Brand
• Product & service
• Media
• Creative & messaging
• Offer
• Channel
• Customer Strategy
• Audience sizing
• Experience blueprint
• Media plan
• Creative brief
• Targeting &
personalization plan
• Budgeting & forecasting
• Measurement plan
• Online onsite
• Online offsite
• Call Center
• POS
• Offline (print, mail, TV,
outdoor, radio)
• Portfolio
• Experience
• Interaction
• Touch Point
STRATEGY
PLANNING
DEVELOPENT
& LAUNCH
AUDIENCE
INSIGHT
OPTIMIZATION
13. • Enterprise Segmentation
• Behavioral triggers &
sequencing
• Lifecycle stages
• Value score
At the foundation of the process is audience insight.
STRATEGY
PLANNING
DEVELOPENT
& LAUNCH
OPTIMIZATIONAUDIENCE
INSIGHT
20. PERSONAL
VALUES
PERSONAL
CONSEQUENCES
FUNCTIONAL
CONSEQUENCES
ATTRIBUTES
Peace of
Mind
Time with
Family
Good Life Feel Smart
Less Worry
Save Time
and Hassle
Good
Decision
Reliable
Simple
Buying
Process
Understand-
able
Reputation
Recommended
Easy to Follow
Policy
Reviews
By Friend
By Advisor
By Familiy
Consumer
Friendly
Terms
Right
policy
CONNECTED DECISION MAP
Insurance
Do More
with Money
Feel Smart
Stay in
Budget
Good Value
Flexibility
Affordable for
Policy
Good Brand
Longevity
Price
Terms
Coverage
Amount
Do More
with Money
Feel Smart
Stay in
Budget
Good Value
Flexibility
Affordable for
Policy
Good Brand
Longevity
Price
Terms
Coverage
Amount
21. PERSONAL
VALUES
PERSONAL
CONSEQUENCES
FUNCTIONAL
CONSEQUENCES
ATTRIBUTES
Do More
with Money
Feel Smart
Stay in
Budget
Good Value
Flexibility
Affordable for
Policy
Good Brand
Longevity
Price
Terms
Coverage
Amount
Time with
Family
Good Life Feel Smart
Save Time
and Hassle
Good
Decision
Simple
Buying
Process
Understand-
able
Recommended
Easy to Follow
Policy
By Friend
By Advisor
By Familiy
Consumer
Friendly
Terms
Right
policy
CONNECTED DECISION MAP
Insurance
Peace of
Mind
Less Worry
Reliable
Reputation
ReviewsLongevity
Peace of
Mind
Less Worry
Reliable
Reputation
ReviewsLongevity
22. PERSONAL
VALUES
PERSONAL
CONSEQUENCES
FUNCTIONAL
CONSEQUENCES
ATTRIBUTES
Do More
with Money
Feel Smart
Stay in
Budget
Good Value
Flexibility
Affordable for
Policy
Good Brand
Longevity
Price
Terms
Coverage
Amount
Feel Smart
Good
Decision
Peace of
Mind
Less Worry
CONNECTED DECISION MAP
Insurance
Time with
Family
Good Life
Save Time
and Hassle
Simple
Buying
Process
Understand-
able
Recommended
Easy to Follow
Policy
By Friend
By Advisor
By Familiy
Consumer
Friendly
Terms
Right
policy
Reliable
Reputation
ReviewsLongevity
Time with
Family
Good Life
Save Time
and Hassle
Simple
Buying
Process
Understand-
able
Recommended
Easy to Follow
Policy
By Friend
By Advisor
By Familiy
Consumer
Friendly
Terms
Right
policy
Reliable
Reputation
ReviewsLongevity
23. PERSONAL
VALUES
PERSONAL
CONSEQUENCES
FUNCTIONAL
CONSEQUENCES
ATTRIBUTES
Do More
with Money
Feel Smart
Stay in
Budget
Good Value
Flexibility
Affordable for
Policy
Good Brand
Longevity
Price
Terms
Coverage
Amount
Peace of
Mind
Less Worry
Time with
Family
Good Life
Save Time
and Hassle
Simple
Buying
Process
Recommended
By Friend
By Advisor
By Familiy
Reliable
Reputation
Reviews
CONNECTED DECISION MAP
Insurance
Feel Smart
Good
Decision
Understand-
able
Easy to Follow
Policy
Consumer
Friendly
Terms
Right
policy
Feel Smart
Good
Decision
Understand-
able
Easy to Follow
Policy
Consumer
Friendly
Terms
Right
policy
24. It’s important to …
Stay in budget and make
a good decision
It’s important to…
Worry less
It’s important to…
Save time and hassle
I want to…
Get a good value
I want…
reliability
I want …
Simplicity and reliability
Give me…
affordability, flexibility, easy to
follow products
Give me…
Good reputation, longevity
Give me…
Recommended brand
and easy to follow products
Good LifeFeel Smart Peace of Mind
By identifying people with similar motivations, segments
emerge.
25. PERSONAL
VALUES
PERSONAL
CONSEQUENCES
FUNCTIONAL
CONSEQUENCES
ATTRIBUTES
Time with
Family
Good Life
Save Time
and Hassle
Simple
Buying
Process
Understand-
able
Reputation
Recommended
Easy to Follow
Policy
Reviews
By Friend
By Advisor
By Familiy
Consumer
Friendly
Terms
Right
policy
“We’ll do the work, you go
live ‘The Good Life’”
Save time and hassle with the
‘Young Professionals’ bundle”
One application for 3
product bundle Finally insurance that’s
understandable
“Young Professionals”
package
26. Behavioral triggers & sequencing
Age 34 | Income $100K | Male
Aiden
Visits Sports, News, Fashion sites
Owns a smartphone, 10.5” tablet, 7” tablet, laptop
Doesn’t watch TV unless it is online
Travels with friends, discusses experiences online
Doesn’t understand insurance
Has a dog, and drives an SUV
Is about to get married and wants children
Has a PHD in Psychology
Likes to hike, lives in the upper Midwest
DEVICE
DMA
BUYING
BEHAVIOR
ONLINE
COMMENTARY
SITE VISITATION
SOCIAL MEDIA
USE
28. Value score is an important input into contact planning
Segment: Good Life
Individual: Aiden
Expected LTV: $950
Segment: Good Life
Individual: Cookie 12365
Expected LTV: $250 Anonymous
Individual
$4.00
$.45
$.80-$9.50
$.04
$.15
$.03
$.01
Average CostTouch Points
Native Social
Direct Mail
Outbound Call
Email
Search RLSA
Display
Online Video
Level of
investment
high
medium
low
29. How does it work?
Audience Value
Propositions
Customer Experience
Blueprint
Communication
Architecture
Drives core media and
message
Message sequencing
plan Aligned to audience,
exp blueprint and
communication
architecture
30. Discussion
1. How would you rank your organization when it comes to
2. Which of these four areas currently poses the biggest challenge/opportunity/gap?
3. What would it mean to you (monetarily) to advance in these areas?
Lifecycle
stages
Enterprise
segmentation
Behavioral triggers
& sequencing
Value score
31. Thank You!
To watch the full webinar presentation, please head here:
http://bit.ly/1A52sqx
Editor's Notes
Talking points:
What do these companies have in common?
They are the top 10 most trusted brands
What do they have in common? Innovative and differentiated experience; and ability to adapt to the consumer
1. Amazon: It could be the fact that Amazon remains the first and biggest online retailer with a reputation for security and an endless inventory. It could be the brand’s truly innovative recommendation system. Or it could be Amazon’s plan to create its own “virtual” currency–because no dishonest individual would ever make his own money, right?
2. Apple: Of course the public respects a brand that has long dominated the world of innovative technology and customer service. But Apple hasn’t released any “wow” products for a while, and the company’s new semi-desperate PR approach tells us that they probably won’t rank so high next year.
3. The Walt Disney Company: We could be wrong, but we’d like to think people trust Disney because Pixar still somehow manages to make great movies. We also feel like everyone took a cue from the horrible promo campaign and skipped John Carter.
4. Google: The “Don’t be evil” company’s “premature” earnings statement was a big PR fail, but it has maintained a reputation as a great place to work. And we don’t care how many cute videos Microsoft releases–we’re still not going to use Bing.
5. Johnson & Johnson: We find this one surprising in light of all the product recall business. But the PR team did as well as it could with damage control, and any brand known as “the baby company” has already earned some trust from the public. Keep your eye on J&J next year, though.
6. Coca-Cola: While some say that the public loves Coke because it “sells happiness”, we will attribute this position to its bold decision to admit that Americans should probably consume a little less of its product unless they want to end up like this unfortunate lady. It can’t be because our fellow Americans trust Taylor Swift more than Beyoncé–Bey would never write a breakup song that is so obviously about John Mayer.
7. Whole Foods: It’s expensive–and its CEO is very good at placing his foot in his mouth. But Whole Foods does sell top-quality products, and it’s well-known for its CSR and purpose marketing successes. The whole “in-store drinking” experiment was pretty cool too.
8. Sony: “Green” isn’t everything–quality products like the ever-popular Playstation guarantee a good reputation for Sony, which seems to have emerged from a 2011 hacking scandal with an even stronger public image. It also gets great marks for customer service.
9. Procter & Gamble: The other “baby company” has always earned high marks for leadership within its industry. We don’t quite understand why, but we’re going to say “Moms. Moms. Moms.”
10. Costco: It’s simple: people love cheap stuff. People also love underdogs, a tag that could apply to any company competing with Walmart. Costco also doesn’t have too many problems with things like fake PR stunts, terrible labor practices, large-scale employee protests or testy relationships with major media outlets.
Talking Points:
Need to say that the brands on previous slides advanced their product or service to a full on experience, etc. to tie to the points on this page.
We have to say here that the customer now controls how, when and where they experience your brand and that in order to continue to meet those needs companies need to be building on what those experience pathways will be regarless of how the customer chooses to navigate them. The technology needs to enable smarter personalization across media and channels and then be smart enough to react with the appropriate feedback.
We are in the era of customer experience.
Customers do not see interactions with your brand as specific to one particular channel or another, they simply experience your brand in whatever mechanism is activated.
For this reason, the entire ecosystem of digital technology must be leveraged at all times, and the use of those channels must be subtle and effective. We can’t blast anymore.
[Bullets previously on slide removed by samlab]:
Companies are targeting the same audience, giving consumers a lot of options
Customers expect to control how, when and where they experience a brand
Customers expect more than just products or services – they expect experiences
Companies have the onus to adapt/respond real time with appropriate feedback across the customer journey
But, today’s experience ecosystem is more complex than ever – more media, more channels, “always on”
Talking points:
When customers get what they want and feel like a brand understands them they become more loyal and their value increases proportionally.
Moving from a below average to an above experience is worth millions of dollars. (Forrester study)
Talking points:
Forrester looked at value of companies across many industries if they go from below average to above average customer experience scores
A credit card company with 61 million customers could drive additional 866 million / yr from improving customer experience
------
Trust is earned by providing customers with the information that they want and answering the questions that they are asking in a more relevant way and through the lens of the customer and not the organization.
These five areas become the foundation of building on the 3C's and ensuring that the experience serves the customer's purpose.
Aiden, a young professional that views himself as a wise individual. He grew up in a middle class home and though he hasn’t had financial hardships, he sees many of his peers are becoming increasingly responsible, as evidenced by their recent home purchases, increasing frugality and financial planning.
Email Reinforces Aiden’s Required Context. Aiden’s expectation is that going with InsureCo is an easy/simple choice, has a good reputation, nice bundle of products, and great reviews.
Aiden filed an auto claim and there was a small discrepancy in the information that the claims agent provided. An honest mistake and the agents supervisor sent a personal message apologizing for the mistake and explaining next steps to prevent this from happening again. Aiden, using a tablet, goes online to look at adding additional auto coverage and pricing a life policy. Though he doesn’t enter contact information, InsureCo recognizes Aiden. Based on website and search activity, InsureCo infers that Aiden is a newlywed
Companies can conceptualize “the” customer journey but the reality is that no two paths are the same; companies must be adaptive.
Talking Points
We can talk about and show the conceptual nature of a customer journey, but the reality is that no two journey paths are the same. There are just too many points of contact and too many behaviors to account for everything. The best marketers know and understand this and use audience insights about the drivers of need, the tools used to gather the information and how the environment of the audience member will adjust the methodology that they use and the answer that they want.
No two fingerprints are the same, neither are absorptions of content and dialogue.
The best digital marketers understand that no single channel can solve the rubix cube of human experience.
Data and the integration of data analysis in real time allow for every channel in the ecosystem to be leveraged at the appropriate time.
There are just too many points of contact and too many behaviors to account for everything. The best marketers know and understand this and use audience insights about the drivers of need, the tools used to gather the information and how the environment of the audience member will adjust the methodology that they use and the answer that they want.
Four critical pieces of insight must be understood to plan the addressable experience.
Talking points:
Dual process theory – scientists have uncovered 2 types of thinking (reference book thinking fast and slow); provide examples.
We use this as foundation of our research because if we can understand how people make decisions, we can start influencing them
Talking points
This is the CDM for insurance that is driving Aiden’s experience
Decisioning can change based on funnel phase. Found that during uppper funnel decisions, good value and flexibility
Talking points
This is the CDM for insurance that is driving Aiden’s experience
Decisioning can change based on funnel phase. Found that during uppper funnel decisions, good value and flexibility
Talking points
This is the CDM for insurance that is driving Aiden’s experience
Decisioning can change based on funnel phase. Found that during uppper funnel decisions, good value and flexibility
Talking points
This is the CDM for insurance that is driving Aiden’s experience
Decisioning can change based on funnel phase. Found that during uppper funnel decisions, good value and flexibility
Talking points
This is the CDM for insurance that is driving Aiden’s experience
Decisioning can change based on funnel phase. Found that during uppper funnel decisions, good value and flexibility