Webinar with Forrester senior analyst Fatemeh Khatibloo on The Future of Customer Intelligence. She speaks about customer engagement, customer lifetime value, customer loyalty, customer analytics and customer customer intelligence. She gives examples of brands like Disney, Tesco, Intuit, Nordstrom and Dell.
7. What is Customer Intelligence?
The management and analysis of
customer data from all
sources, used to drive marketing
performance and business strategy.
11. Legacy CI is a foe
Using customer intelligence poorly is
sometimes worse than not using it at all
It affects customer engagement and loyalty
It wastes marketing dollars and impacts profitability
It can materially impact brand perceptions
But! Done well, customer intelligence
can be your organization’s best friend
14. What makes these organizations
different?
They’ve evolved customer intelligence from a
marketing tool to a business planning tool.
They’ve moved beyond measuring marketing
effectiveness to measuring customer value
Their approach to marketing and customer
engagement hinges on being contextually relevant
17. * Source: North American Technographics® Benchmark Survey, 2010 (US, Canada)
**Source: North American Technographics® Online Benchmark Recontact Survey, Q3 2011 (US, Canada)
18. What IS The Mobile Mind Shift?
The expectation that any
desired information or service is
available, on any appropriate
device, in context, at your
moment of need.
24. Intelligence—not data—will
be the difference between
success and failure.
Human beings today
generate 200 exabytes
of information per year
- David Siegel
Entrepreneur, Futurist, Author
“Pull: The Power of the Semantic Web to
Transform Your Business”
26. Function/task
C
ustom
er
intelligence
B
rand
m
arketingInteractive
m
arketing
C
R
M
Product
M
arketingSales
and
service
Security
and
riskD
ata
architecture
Infrastructure
and
EA
Legal
C
ustom
er
experienceC
ustom
er
service
Assess organizational consumer
data requirements
R + A I I I S I C I S C C C
Create consumer data governance
policies
R + A I I I I I R + A I I S + C I I
Enforce consumer data governance
policies
R + A R + A S S C S
Create data provider/data
management vendor requirements
S C S R or S R + A S
Assess data provider/data
management vendor compliance
C I C R + A R or S R + A
Stay abreast of and communicate
regulatory changes
S R I A
Deliver thought leadership around
regulatory and industry best
practices
R + A C S S C S S I
Evaluate privacy policies and TOU
for compliance w/industry best
practices
R I C I I S A
Represent the organization in policy
discussions as necessary
C R or S C R + A
Design processes to comply with
consumer data requests
S C I I C S R + A S S
Track and report against consumer
data request fulfillment
R + A S I S I I R + S I R + S
MARKETING BUSINESS TECHNOLOGY OPERATIONS
Placeholder graphic – need a cleaned up
one
Data stewardship needs to take a front
seat
34. 2. Invest in the right technology
Makes sense of massive quantities of data
& makes them actionable
CDI
Predictive analytics
Web analytics
35. 2. Invest in the right technology
Makes sense of massive quantities of data
& makes them actionable
Enables the use of data to deliver
meaningful, relevant message
Contact optimization
Preference management
Triggered marketing
Site optimization
36. 2. Invest in the right technology
Makes sense of massive quantities of data
& makes them actionable
Enables the use of data to deliver
meaningful, relevant messages
Shifts marketing messaging from
campaigns to continuums
Real-time enablement
Digital deployment
Journey mapping
37. 3. Re-evaluate business partnerships
Deepen the relationships that deliver value
It’s hard to find the marketing scientists to support your
analytics needs – partnerships can help.
Find partners that with well balanced
technology and execution capabilities
Services providers can’t be blind to technology anymore…
…and technology partners need to understand your business
goals and challenges
38. 3. Re-evaluate business partnerships
Deepen the relationships that deliver value
It’s hard to find the marketing scientists to support your
analytics needs – partnerships can help.
Find partners that with well balanced
technology and execution capabilities
Services providers can’t be blind to technology anymore…
…and technology partners need to understand your business
goals and challenges
39. 3. Re-evaluate business partnerships
Deepen the relationships that deliver value
Find partners that with well balanced
technology and execution capabilities
New-school solutions can round out the
technology you already own
The old-school thinking that you need to strip out all your
existing tech, and build a whole new platform is outdated
Abstract: Every company generates data of potentially massive value; data that could be repackaged and analyzed along with IP from other sources to generate significant new discoveries, products, and revenue streams. But making your data discoverable and consumable by third parties is a challenge. This is especially so when you have to weigh the potential revenue opportunity from these actions against the security and compliance mandates we are all under. Layers of IT security, legal review, and data management practices make it nearly impossible to share valuable data in a vibrant marketplace. Or does it?Forrester thinks the time is now for a Data Economy that lets you unlock the hidden value of your corporate data. Emerging marketplaces exist today and are showing the way towards broader market adoption. In this session you will learn:* Who are the market leaders in opening up the Data Economy* What technologies, standards, and methodologies they are leveraging to make this market a reality* What steps BT leaders can take today to assess their opportunities and begin profiting from the Data Economy in 2013
I used to tell this story… about how I was visiting my family in LA and, at one point in the weekend, as we were sitting at the table, I looked around and realized that we were all using some secondary device – an iphone, an ipad, a blackberry – and how this strange world we live in, with device proliferation an communities that we connect to at the same time – was making life REALLY hard for marketers, and how we measured marketing success. And then, one day, I realized I was making entirely the wrong point. My story was about MARKETERS, and how hard our lives had become. But really, the truth is that our CUSTOMERS lives are getting harder, too.
This: this is your customers’ life. They’re bombarded with messages about the products and services they should be interested in, but almost NONE of it is tailored to them! They see posts on facebook – both from friends and from brands – telling them how great this bank or that retailer is. They do some research, but Google give them too many choices, creating a state of “analysis paralysis”. And then, the minute we recognize them? Well, we launch into a series of marketing communications that are rarely targeted to what their real needs and wants are! How frustrating is that?So, I realized, this isn’t about marketing. It’s about customers. It’s about how we treat them, how we nurture them, and whether we foster a culture of strategic customer engagement instead of marketing effectiveness. Because if you nail the first one, the second one will follow.
OK, so that’s a really bad, tragic example. But let me take you to another one, a personal one this time. A few months back, I got an email from Nordstrom – from whom I buy shoes. OK, lots of shoes. I won’t get more specific, except to say that Nordstrom probably has all the information they need about me to make sure that I buy a rather spendy pair of shoes every couple of months. So, when I got this email, I was so excited – look – The Season’s Newest Shoes, IN MY SIZE! Awesome. I opened the email, of course, and thought, “well, ok, not TOTALLY my style of shoes, but not a bad try.” And then I clicked thru to the site.
And here’s where the disappointment set it. Because, yea, Nordstrom led me to believe that I was going to end up on a landing page tailored to me… or at the very least, I mean, bare minimum here, they would send me to their shoe section, already filtered for my very average size 7 feet. Instead? They sent me to a page filtered for extended sizes –for you gentlemen who may not know what that means, it’s for very tall and very lilliputian ladies. And as you can see, I am most certainly neither of those – like I said, quite average. So, yea, I was let down. And that silly but significant disappointment sent me to Twitter…
Where I posted this. And within a couple of hours, I’d gotten almost a dozen responses! I doubt that this is what nordstrom expected, but these are the dangers of bad CI in an era of connected and expectant consumers.In other words,
Now, within Forrester, you’ll hear us talk about “Customer obsession” – and it’s a phrase that Rosetta uses too. But what do we mean by this? Well, think of it as the “pedal to the metal” of customer-centricity. It’s when organizations focus their strategy, energy, and budget on things that enhance their knowledge of and engagement with customers, and actually prioritize these over traditional competitive approaches.So, who does engagement, and customer obsession well?
Intuit is a company that’s customer-obsessed to its core. When Scott Cook started the company, they literally called hundreds of people to try to understand how they managed their finances, and what irked them most about “personal bookkeeping.” Then they designed Quicken to solve for those problems. But the thing with Intuit is that it’s never stopped. It acquired Mint and created a stellar tool for consumers that was lucrative for advertisers because it always puts the customers needs first. Then, it took the tools that consumers were using most within Mint, and baked them into its Quickbooks solution. In other words, Intuit has figured out how to use CI for product innovation that makes customers HAPPY, and keeps them loyal to the brand.
Citi does a nice job using customer intelligence to understand the relationship between online and offline experiences. For example, the highest use of post- site visit calls was due to one thing – any guesses? FORGOTTEN PASSWORDS. They implemented a friendlier password retrieval system on the site, and cut those very expensive calls by 20% -- that’s a win for both the customer AND Citi. Also, they Looked at granular data on behavior of customers who routinely visit the website to manage their accounts and discovered that there was a segment who seemed to be at higher risk of delinquincies. Created special marketing promotions such as automatic payment and enrollment in automatic alerts for specific segments. This customized content helped reduce payment delinquencies by 15% in those visitors
In 2011, we started talking about the AAC – this is someone who goes on line 3x+ per day, from multiple locations, and on the go. Prior to that, the best we could tell you was that of US online adults who owned mobile phones, 17% of them had smartphones. In 2011, the first year we’re even able to look at all the behaviors that define the Always Addressable Customer, 38% of all US online adults fall into the category. In 2012? We had to create a whole new metholodology to measure these behaviors, because the changes were happing so fast. And so we now think of the MMSI
Plenty of you are, at this moment, multitasking while listening to this webinar. You’re making reservations for dinner, or catching up on Facebook, or sending a note to your boss. Heck, you may even be looking up a stat or information about something I’ve mentioned so far. And since it’s likely that you’re watching this webinar on your computer’s screen or monitor, you’re probably doing that other thing… on your mobile device or tablet. And you probably didn’t even think TWICE about how amazing that is.
Three elements of the mobile mind shift.Up to 20 points for all connected devices. The average online consumer scores 9.6.Up to 40 points for frequency of access on those devices. The average online consumer scores 13.2Up to 40 points for diversity of locations from which they access. The average consumer scores 5.1Put those together and the average online consumer has a score of 27.9 out of 100. Clearly, there is a lot of room for growth here.
In a 2007 analysis of several studies, people who used pedometers increased the number of steps taken by an average 2,491 a day and boosted overall physical activity by about 27% from previous levels
We don’t think about utility companies as being innovators. But Pacific Gas & Electric is turning that on its ear. Utilities are unique in that they’re one of the few industries that wants us to use LESS of its product. Smart Meters, of course, are one way to start. And PGE has taken that a step further with its innovative MyEnergy program, which helps users understand their use better. But PGE didn’t stop there. They’ve now opened their dataset to third party developers, and it even sponsored a $100K app contest last year. The winning app lets folks understand, in real ecological terms, what their energy usage COSTS, where it comes from, and how to improve it. Basically, it’s the Mint of energy use.
Data data everywhere… and not a drop to drink
Data data everywhere… and not a drop to drink
And boy, as marketers, are we ever excited. We’re sucking up as much of that data as we can. We hire data scientists, buy tools like Hadoop and sophisticated BI, and invest in decision management software, all in the hopes of discovering something actionable, something that will make us better, smarter, more relevant marketers because,
Amex uses data and analytics to test new reward typesTESCO has just launched a partnership allowing members to redeem their clubcard points across a variety of partners
Amazon leaves an open seat at every marketing and business strategy meeting as a representation of the customer. Sure, it’s just symbolic, but it reminds them of their mandate at every turn. Many go so far as to organize entire business units around a customer segment