The Four Essential Truths of Real-Time Customer Engagememt
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The document discusses the four essential truths of real-time customer engagement. The first truth is that if marketers don't know who they are talking to, it is almost impossible to be relevant. The second truth is that if marketers are not managing the customer journey, someone else will. The third truth is that if a marketer cannot decide which offers are most important, they cannot expect customers to do it for them. The fourth truth is that if a marketer cannot deliver their message at the right time, it does not matter how good the message is.
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The Four Essential Truths of Real-Time Customer Engagememt
- 1. WE POWER MARKETING The four essential truths of real-time customer engagement
- 2. WE POWER MARKETING • Global Marketing Evangelist • Teradata Marketing Applications • 25 years in the industry • Has personally consulted with hundreds of enterprise marketing organizations in 54 countries (in all regions of the global economy) Today’s speaker: John Timmerman
- 3. WE POWER MARKETING The omni-channel challenge Traditional Some people write, mail & read Transitional Others video, upload & tweet
- 4. WE POWER MARKETING Today’s digital landscape 247 Billion Emails sent worldwide each day 5 Billion Smartphones by 2017 4.5 Billion Social users worldwide 50 Billion Connected products
- 5. WE POWER MARKETING The goal, more than ever, is to enable the dialogue • Omni-channel marketing remembers a customer across channels and acts accordingly • Omni-channel marketing enables the brand to deliver a consistent and value- rich experience
- 6. WE POWER MARKETING Choreographing individual customer experiences Planned Marketer plans messages customer should receive Customer Value-Driven Insight-Driven Real-time customer insights determine the next best message Customer Need-Driven Interactive Customer interactions with brand trigger real-time messages Experiential Interaction
- 7. WE POWER MARKETING CUSTOMER SERVICE Report History MARKETING Potential Value SALES Loyalty DIGITAL Identity OPERATIONS Registrant DEPARTMENT SILOS PERCEIVED CUSTOMER Contact Center Account Managers Loyalty Cards Retail Online Email Mobile Mail POINTS OF INTERACTION Social BRAND ORGANIZATION CUSTOMER Technology ≠ integration The only sure route to value is becoming one with customers and their experience, regardless of channels or platforms
- 8. WE POWER MARKETING You need a very clear picture HOLY GRAIL Individual insights hidden in the data
- 9. WE POWER MARKETING The First Truth If you don’t know who you’re talking to, it’s almost impossible to be relevant.
- 10. WE POWER MARKETING • Integrated customer data to unify +400 data points • Increased customer acquisition by 28% • Improved retention by 20% • Elevated response rates by 15% • 50% increase in customer profit across targets International Financial Leader
- 11. WE POWER MARKETING A series of repeated steps
- 12. WE POWER MARKETING The Second Truth If you’re not managing the journey the customer is on, someone else is.
- 13. WE POWER MARKETING Understanding the lifecycle • Visualize the experience • How can you grow the relationship • How can you improve the path for your customer
- 14. WE POWER MARKETING When a fan calls, he or she will have a consistent experience Became a “relationship marketer” Connected online data with offline data to understand the value of a customer Increased campaign volume 5X without adding additional resources Created a personalized experience for each of its 1 million fans International sports marketing organization
- 15. WE POWER MARKETING WEBSITE RETAIL CALL CENTER WEB CHAT KIOSK EMAIL DYNAMIC PROFILING BUSINESS RULES MULTI-DIMENSIONAL ANALYTICS MESSAGE STRATEGIES • Demographics • Offline data • Contextual data • Contact history • Channel interaction points • Campaign eligibility • Governance • Contact history • Message prioritization • Likelihood estimation • Response prediction • Align customer interests and business objectives • Balances channel and marketing Customer interacts with the channel The channel requests a message Response captured & analytics “self-learn” Prioritized best set of messages delivered The need for real-time offer decisioning
- 16. WE POWER MARKETING The Third Truth If you can’t decide which of your offers are most important, you can’t expect your customers to do it for you.
- 17. WE POWER MARKETING Established a loyalty program, a real-time offer decisioning mechanism and a mobile application Allows them to more proactively and individually engage with customers Delivering a highly personalized and location- specific experience Ability to create, deploy, and track offers through multiple customer engagement and interaction channels International retailer
- 18. WE POWER MARKETING “ The Fourth Truth If you can’t get your message delivered at the right time, it doesn’t really matter how good it is.
- 19. WE POWER MARKETING If you can’t decide which of your offers are most appropriate, you can’t expect your customer to do it for you. If you don’t know who you are talking to, it is almost impossible to be relevant. If you are not managing the journey your customer is on, someone else is. If you can’t get your message delivered at the right time, it doesn’t really matter how good it is.
- 20. WE POWER MARKETING • Why are there floating metal kangaroos on this slide? • Where can I get more information on the Teradata Integrated Marketing Cloud? • Wow…JT sure sounded smart. Are you sure he’s from South Carolina? Q&A?
- 21. WE POWER MARKETING Thank you!
Editor's Notes
- As you know, we live in a digital world. With digital channels and customer expectations both growing, we want to take a look at the top challenges that marketers face today. Consumers are now interacting with products and brands in ways that were never before possible. Every one of those billions and trillions of interactions across Email, Mobile, Social and the Web represents an opportunity to not just reach customers, but to engage them. An opportunity to strengthen existing relationships and build new ones. Meeting the expectations of the always-connected customer is one of the top challenges that digital marketers face today. *Source for stats: eMarketer digital reports, 2014 **Source for expectations statement from B2B Marketing Insider (Michael Brenner)
- No matter the channel…no matter the offer…no matter the incentive
- Teradata is the only company that truly integrates and future-proofs the entire Marketing function for our customers, no matter what technology innovations come next. And Teradata Integrated Marketing Cloud is the only offering that brings together data quality and availability, analytics, marketing applications, and operations. It’s not only about technology – keeping up with new channels, or new ways that Marketers learn about customers. Channels and other data-inputs will always proliferate. It’s about vaporizing silos…integrating…analyzing…extracting the gold of actionable individual insights hiding in the data…and then using those insights to execute the best strategy to create a mind-meld between Brand and customers. Here’s an example of why it’s almost hopeless to focus only on technology: China is the world’s largest mobile market, where 527 million people use smartphones, and where spending on digital advertising will soon pass spending on TV for the first time anywhere. Unlike the U.S., where “social network” equals Facebook, China has seen three dominant social networks in just four years – first Renren, then Weibo, and now WeChat. Pity the poor Marketer basing strategy on staying ahead of change like that. Sure, Marketers must connect everywhere that consumers connect. And they should expect their Marketing Cloud to integrate with today’s technology and anything they buy down the road. But overall, the key to discovering and leveraging the individual insights that lead to winning customer experiences is an agile, open, integrated Marketing Cloud that uses change and technology innovation as fuel for your company’s Marketing strategy.
- Everything you need to know about your customer … those invaluable Individual Insights … is locked away in the depths of your data … stuck amidst the silos. But the data center floor doesn’t have to be orange for us to provide strategic value. Our marketing and customer insight experts will work with the brand to understand where the data currently resides – wherever it resides – and how to bring it closer to the customer. We’ll provide best practices on integrating with and leveraging all customer touchpoints to provide the best possible customer experience. Only Teradata can harnesses the unmatched combination of horsepower and expertise to give Marketers the power to unlock the full potential of their data … to discover those individual insights that let Marketers achieve their strategic goals.
- From an actionable analytics perspective: We‘ve integrated digital channel response reports. We‘ve introduced embedded predictive analytics designed for marketers...not statisticians. We‘ve introduced visualizations of customer journeys (paths).