customer intelligence

8月 012016
 

I think it's probably the most frequently asked question among teenagers who come to our house: "How much data have you got left this month?" And then, if the status of their data limit requires it, they immediately ask for my wi-fi password. They carry on unperturbed watching YouTube videos and using Instagram, Snapchat, or whatever. But what if, as a telco provider, you actually exploited this moment for something other than communicating the current usage? What if you could convince these customers – at the time when they are most susceptible to it – to expand their bundle and pay a bit more?

Moment of truth

I am talking about the moment of truth (MOT). Virtually every marketer dreams of approaching the customer at exactly the right moment (with the right offer). This moment of truth is different for everyone because some people really need to feel the pain before they take action, and others want to act before experiencing smartphonethe pain.

My children receive a message when they have used 80 percent of their data bundle. The message is that they are just a few MBs away from their bandwidth being limited, unless they pay extra. But crazily enough, at that time they never receive an offer for a new bundle that would better suit their usage pattern. I know that my son wouldn't be able to resist that offer. Especially when he is at school in between classes and runs out of data. I know that mainly because I know my son well, of course.

Predict response to offer

That is the big difference. Determining the MOT is not rocket science, but rather a question of knowing your customers and their behaviours. Some providers continually monitor consumers' data consumption. Not just the volume of data, but the speed it is used at, too. If you really know your customer, you can also predict how they will respond to a specific offer. Users who do not want to be confronted with extra costs will use less after they receive a message about reaching their data limit. You can offer these customers something that is in line with their cost-conscious behaviour. You probably don't send offers to users who regularly use more data and simply accept the additional costs, so as not to cannibalise your own revenue, unless of course you recognise indicators for churn. Using your knowledge of the customer, the usage and the real-time analysis of the behaviour, you determine the moment of truth and make the perfect offer.

If you have identified the right moment and the best offer, you have that much more chance of the customer accepting the offer. I have seen successful cases where, by offering the best deal at the right time, the offer take rate was as high as 24 percent. But unfortunately, what I see far more is an offer being made too late, or not made at all. And not just among telco providers.

Proactive

So dare to be proactive and make sure that the customer does not ultimately look for a different provider. Determine the MOT and make it easy from a practical perspective to accept such an offer. This approach makes every customer's life that bit easier. Starting with those teenagers in my house.

Want to know more about how telco companies can successfully approach their customers? Read the white paper Creating Smarter Connections with Customers, Customer Intelligence Analytics for Telco companies.

tags: customer analytics, customer experience, moment of truth, real-time decisioning, telco

Determining the moment of truth is not rocket science was published on Customer Intelligence.

7月 292016
 

There is some debate about the extent to which the internet of things (IoT) is affecting customer intelligence. We have the potential for something new: IoT could mark the end of segmented marketing and the start of “momentary marketing”’. But is this really happening yet? Current deployments give us some idea of how far this could go. Early adopter examples suggest IoT for customer intelligence will be an evolution.

Retailers are using IoT technology to help customers find the right products based on in-store geolocation and the customer’s profile. The French retailer Galeries Lafayette Paris-Haussman has launched a mobile app using geolocation to help customers find their way round the store. The app is free and available in 14 languages. It provides information and directions to in-store boutiques, restaurants and customer services based on the customer’s geolocation and any information they save about their favorite brands. The app also allows customers to share their location with friends on social media, adding extra value for brands.Customer experience matters most for loyalty.

Retailers are also using IoT technology to build customer loyalty in convenience shopping. For example,  a US convenience store chain is aiming to turn convenience shopping on its head with the use of IoT technology. Once considered a "fast in, fast out", impersonal experience, the company is now aiming to change this. It is building brand loyalty through a connected network that allows customers to use their phones to locate stores, and pay, as well as receiving rewards and loyalty points.  This is providing huge insights into customer behavior, and therefore improving both sales and inventory management.

Instead of using standard messaging, in-store smart screens provide shoppers with more nuanced information that influences buying decisions. For example, Nordstrom was an early adopter of Pinterest. It uses information about customer interactions with site content to see what products are popular, and uses that on in-store signage. Pinterest data is also used to influence buying decisions and where merchandise is located, improving sales and inventory management, as well as the customer experience.

Use of IoT technology can help to track customers and improve targeting of customer offers and rewards. Disney’s RFID-enabled MagicBand wristbands is a form of pre-payment used in Disney resorts. It allows access to experiences bought online, so that theme park visitors travel lighter. But it also provides ‘special surprises’ based on location and profile on the Disney site, as part of the Disney magic.

Data provided by smart meters and smart thermostats gives insights into consumer behaviour. Knowing how customers behave can help energy companies to add value for their customers by suggesting ways that they could save energy, and therefore costs. But it can also help companies to manage energy generation at different times of day, month and year to better fit demand. With growing use of renewables in energy generation around the world, this is increasingly important.

Telecoms companies are using IoT to provide targeted roaming offers to phones abroad, based on previous usage and profile. Roamers are a source of significant amounts of revenue to mobile phone operators, but also largely ignored in marketing until fairly recently. There is, therefore, considerable potential to improve targeting of services to roamers based on their previous usage—, which, of course is, trackable by device. Analyzing needs, behaviour and usage offers opportunities to grow this market, and encourage customer loyalty, especially among frequent travelers.

Use of beacons is enabling retailers to target offers and attract customers into retail premises. Regent Street, in London’s West End is one of the busiest and most famous shopping streets in the world. It has adopted beacon technology, which allows mobile apps to detect and respond to information from retail premises. The app user completes a quick survey to provide some basic information on their likes, and brands can then provide extremely tailored content based on customer’s precise location and preferences.

Building on potential

Many of these applications are particularly interesting because they rely on real-time interactions. Data are captured in real time and streaming analytics are used to react immediately, and generate some kind of customer interaction. These examples show what is already possible, and commentators are predicting that many more will emerge. The question for us is how many of those who could benefit know that this is even possible, never mind that it is already happening among their competitors?

To discover all the opportunities IoT data can provide, read the white paper The Internet of Things: Marketing’s Opportunities and Challenges.

tags: beacons, customer experience, customer intelligence, Internet of Things, IoT, retail, RFID, smart devices

How far can IoT take customer intelligence? was published on Customer Intelligence.

7月 272016
 

Back in 2001, when I started working in the enterprise marketing software business, customer relationship management or CRM was seen as the cure all from a sales and marketing perspective.

“If only we could more quickly send direct mailers offering a buy one, get one video rental, we could corner the market” one executive told me. CRM deployments at that time were costly and resource intensive.

My how times have changed.  But one thing hasn’t changed – there remains three critical components to consider when standing up a solid customer intelligence software solution – data, insight and action.

Data meaning a centralized data repository – containing first and third-party data. Insight being intelligence derived from the use of analytics. And action being the ability to orchestrate interactions across sales, service, and marketing touch points.

Recently, SAS partnered with Forbes Insights to look in depth at the first component in this trilogy – data. This report, Data Elevates the Customer Experience, looks at how data insights can be customer experienceused to improve the overall customer experience with brands.

It’s clear that data management and integration are crucial components of delivering customer experiences that are relevant, satisfying and valued. If the foundational component of data is not a source that is trusted, reliable, and of high quality – marketing efforts will be subpar. Period. Some interesting findings from the report:

  • 20 percent report that individuals in their organization are able to take advantage of information and derive actionable insights from data being shared across their enterprises.
  • 14 percent of executives are able to report that their data is structured on a cross-functional, synchronized way.
  • 45 percent of respondents claim their data is “not yet fully integrated”.
  • 41 percent say their data is still siloed by departments.

Primary challenges to greater insight around customer experience management are familiar: siloed business units (34 percent), legacy applications (33 percent) and siloed applications and processes (28 percent).

The recurring message throughout the report was that a centralized and integrated data store, that contains all data sources and types, provides the most benefit to organizations. Siloes are still a huge challenge and integration is still difficult – especially when purchasers of data management, analytics, and marketing applications take a best-of-breed approach – without considering how those components work together. As Mike Flannagan of Cisco stated, “IT systems may take years to integrate, and now we’re seeing it with [Internet of Things] environments.

I interpret that to mean – data and system integration has historically been difficult with backend environments – and that challenge isn't going away any time soon.

Additionally, a previous Forbes Insights report found that predictive analytics and the ability to deliver real-time insights across all channels are top of mind. However, in order to deliver these capabilities sound data management and data integration have to come first.

So what can you do at your organization if you see these same issues and want to tackle them head on? I would offer a few suggestions:

  • Consider a master data management solution. Organizations need the ability to manage multiple data domains, on-board source system data, match at the master data level and enable data governance – both at an analytical and operational level. Keeping data up to date, clean and relevant will drive better insight and action.
  • Use analytics to derive insight. If your data isn’t sound, your analytics won’t be great, but if your data house is in order, then analytics will uncover intelligence about your customers that will send your customer experiences skyrocketing.
  • Use data to inform marketing process orchestration. The better your data foundation is, the more insight you will have when setting up customer journeys and mapping them out across inbound and outbound channels and touchpoints.

These are just a few ways that you can take action to improve the customer experience. I would encourage you to look to a vendor, like SAS, that provides a truly integrated marketing solution – from data to insights to action. This will make your organization more efficient and help you to avoid the issues that our friends at Forbes found.

tags: Advanced Analytics, brand, customer experience, data management, Forbes Insights, marketing operations management, marketing optimization, master data management

Winning the customer experience war begins in the data trenches was published on Customer Intelligence.

7月 062016
 

Privacy is a perennial issue. Whether it is a data breach at the IRS, deliberate leaks such as the Panama Papers or simple non-compliance of data rules, privacy is a regular source of news stories and concern to those responsible for managing personal data of any kind. The Internet of Things (IoT) has potential to make this level of concern look small. IoT data can expose more—and more intimate—information than has ever been shared in the past, and customers are waking up to this.

So how can marketers navigate their way through this minefield?

Marketers need to understand that their customers are anxious. A recent survey by Fortinet revealed that 69 percent of people are either "extremely" or "somewhat" concerned that a household appliance could be involved in a leak of personal information. Around the world, a majority of respondents agreed that their privacy was important, and they did not trust how their data might be used. People do not understand the potential, and they are not prepared to trust without proof.IoT

Marketers should build on their existing opt-in culture to really exploit IoT data. An opt-in culture has been established in marketing for a long time. And while people complain about the lack of consistency about whether you tick a box to opt in or out, they also understand that they can change their preference at any time and, most importantly, their wishes will be respected. Marketers need to emphasize that this will continue.

Putting customers in the driving seat allows them to take control of their own privacy. This is an extension of the opt-in culture: nothing is done without authorization from the customer. For example, London’s Regent Street has a system of beacons that can interact with mobile devices to provide offers and invitations based on precise location and preferences. However, this can only happen if the customer downloads the app, completes a short questionnaire and gives authorization. Thus affecting the amount of IoT data streaming into the companies.

The customer is in control

It is important to provide customers with good reasons to opt in. Think of the earliest loyalty cards. Customers opted in by the thousands because they got something valuable back, usually discounts or offers at first, but later, points that they could use towards rewards. The principle has not changed. Customers understand that it is a business deal: they give data about their habits and behaviors, and they get something back. It’s all about how they rate that ‘something back’.

Customers want personalized experiences that are consistent across channels. Customers are genuinely keen to be seen as a single entity, even if they use multiple channels. They also want an ongoing relationship, and to be treated as an individual, not part of the masses. Many, however, are wary of sharing the very information that could enable this to happen. Marketers need to get better at explaining why sharing information is important for customers, as well as for businesses, and how it could improve customers’ experiences.

Increased sharing should be rewarded. Some customers are prepared to share more information, which of course means a greater return for the organization. To encourage this behavior, these customers should be given additional rewards, and this contract should be made overt, not clandestine. Customers need to understand the contract into which they are entering. With transparency comes trust.

The relationship needs to be supportive not exploitative. Any relationship is two-way. Even though some are unbalanced. A parasitic relationship—all take and no give – is unlikely to be welcome to the person on the receiving end, who is likely to go out of their way to end the relationship. A symbiotic relationship—one of mutual benefit – is much more likely to endure. Think about a supportive manager who gradually overcomes an employee’s fear of being open by responding helpfully to any disclosure, and not using it to exploit the employee.

Building on strong foundations

The good news is that marketing seems to be well placed to take advantage of IoT data, and be able to address data privacy concerns. The rise of content marketing has driven a move towards developing relationships with customers, rather than a transaction-based model. And the opt-in culture is a strong basis for building trust.

Marketers now need to take these advantages and use them. They need to build good, human connections, that provide value to both sides, and make sure that both sides understand the contract that has been drawn up. Embracing transparency is likely to be key to building trust, and generating true value from IoT data.

To truly understand how IoT data can provide new revenue opportunities for a business and increase customers’ satisfaction, read the white paper The Internet of Things: Marketing’s Opportunities and Challenges

tags: content marketing, customer experience, customer loyalty, data privacy, IoT, opt, sensor data

Are marketers ready to navigate IoT privacy concerns? was published on Customer Intelligence.

7月 062016
 

Privacy is a perennial issue. Whether it is a data breach at the IRS, deliberate leaks such as the Panama Papers or simple non-compliance of data rules, privacy is a regular source of news stories and concern to those responsible for managing personal data of any kind. The Internet of Things (IoT) has potential to make this level of concern look small. IoT data can expose more—and more intimate—information than has ever been shared in the past, and customers are waking up to this.

So how can marketers navigate their way through this minefield?

Marketers need to understand that their customers are anxious. A recent survey by Fortinet revealed that 69 percent of people are either "extremely" or "somewhat" concerned that a household appliance could be involved in a leak of personal information. Around the world, a majority of respondents agreed that their privacy was important, and they did not trust how their data might be used. People do not understand the potential, and they are not prepared to trust without proof.IoT

Marketers should build on their existing opt-in culture to really exploit IoT data. An opt-in culture has been established in marketing for a long time. And while people complain about the lack of consistency about whether you tick a box to opt in or out, they also understand that they can change their preference at any time and, most importantly, their wishes will be respected. Marketers need to emphasize that this will continue.

Putting customers in the driving seat allows them to take control of their own privacy. This is an extension of the opt-in culture: nothing is done without authorization from the customer. For example, London’s Regent Street has a system of beacons that can interact with mobile devices to provide offers and invitations based on precise location and preferences. However, this can only happen if the customer downloads the app, completes a short questionnaire and gives authorization. Thus affecting the amount of IoT data streaming into the companies.

The customer is in control

It is important to provide customers with good reasons to opt in. Think of the earliest loyalty cards. Customers opted in by the thousands because they got something valuable back, usually discounts or offers at first, but later, points that they could use towards rewards. The principle has not changed. Customers understand that it is a business deal: they give data about their habits and behaviors, and they get something back. It’s all about how they rate that ‘something back’.

Customers want personalized experiences that are consistent across channels. Customers are genuinely keen to be seen as a single entity, even if they use multiple channels. They also want an ongoing relationship, and to be treated as an individual, not part of the masses. Many, however, are wary of sharing the very information that could enable this to happen. Marketers need to get better at explaining why sharing information is important for customers, as well as for businesses, and how it could improve customers’ experiences.

Increased sharing should be rewarded. Some customers are prepared to share more information, which of course means a greater return for the organization. To encourage this behavior, these customers should be given additional rewards, and this contract should be made overt, not clandestine. Customers need to understand the contract into which they are entering. With transparency comes trust.

The relationship needs to be supportive not exploitative. Any relationship is two-way. Even though some are unbalanced. A parasitic relationship—all take and no give – is unlikely to be welcome to the person on the receiving end, who is likely to go out of their way to end the relationship. A symbiotic relationship—one of mutual benefit – is much more likely to endure. Think about a supportive manager who gradually overcomes an employee’s fear of being open by responding helpfully to any disclosure, and not using it to exploit the employee.

Building on strong foundations

The good news is that marketing seems to be well placed to take advantage of IoT data, and be able to address data privacy concerns. The rise of content marketing has driven a move towards developing relationships with customers, rather than a transaction-based model. And the opt-in culture is a strong basis for building trust.

Marketers now need to take these advantages and use them. They need to build good, human connections, that provide value to both sides, and make sure that both sides understand the contract that has been drawn up. Embracing transparency is likely to be key to building trust, and generating true value from IoT data.

To truly understand how IoT data can provide new revenue opportunities for a business and increase customers’ satisfaction, read the white paper The Internet of Things: Marketing’s Opportunities and Challenges

tags: content marketing, customer experience, customer loyalty, data privacy, IoT, opt, sensor data

Are marketers ready to navigate IoT privacy concerns? was published on Customer Intelligence.

6月 292016
 

Throughout my 10 years at a leading direct marketing and CRM agency, a chief issue we solved for our clients was what we affectionately referred to as a spaghetti junction. It’s a nickname often given to a massively intertwined road traffic interchange that resembles a plate of spaghetti, like this […]

Don’t make your marketers experience a spaghetti junction was published on SAS Voices.

6月 292016
 

In my first post, I discussed the importance of brand equity and its relationship to good customer experience.

Consider this scenario of an organization where brand equity was negatively impacted by a fractured customer experience. In this case the “brand” is the corporate brand.

Internally, employees knew that the company was in trouble because:

  • It did not have a clear, complete picture of customers.
  • Each business area had their own definition of the customer based on their own partial data.
  • The marketing group targeted middle-aged, price-sensitive customers.
  • Advertising bought media that was targeted to younger audiences.
  • Merchandising targeted affluent households.
  • Customer service had no customer information.
  • Stores, catalog and Internet channels had different marketing programs.
  • Digital channels interacted with customers based on their narrow view of the customer.
  • Data was not shared, so no one had a complete picture of customers.
  • Marketing programs were not coordinated.

Needless to say, this negatively impacted customer experience. Customers were showing up in the stores holding two or three 183061092different promotions valid for that week. Confusion reigned as neither customers or employees were sure which promotions were good in which channel, or which could be used in combination.

The customer experience was a negative one, and marketing response rates declined as did sales and perception of the brand. It did not take long for Wall Street to figure out there were deep problems and the stock price sank.

The Turnaround

What saved this brand?

  • A unified view of the customer.
  • Shared customer insights.
  • Transparency of marketing processes.

The impetus was a turnaround CEO with a maniacal focus on customer and transparent coordination of processes around customer.

Actions

  • His first order of business was to accelerate an already in-progress effort to consolidate customer data across the organization.
  • He made data accessible to all business groups and channels for the tactical customer interaction decisions.
  • For strategic decisions, he demanded an analysis to clearly identify and profile the best and next-best customers. He then required every decision be aligned with these customers.
  • Every business area and every channel needed to show how their resources were being allocated to align with the various customer segments.
  • Interactive channels needed to show how they were supporting consistent messaging to various customer segments and using data to personalize the experience.

Results

  • For the first time, there was transparency of advertising and marketing promotions across all channels.
  • For the first time, business groups were aligned and had a coordinated message to communicate brand value to customers.
  • Customers saw the same messaging across all channels.
  • Customers understood what the brand stood for.
  • Over the next few years, market share increased, stock price soared 800 percent.
  • Employees were confident in their decisions and proud to work for the brand.

This scenario is a great learning experience of what can go right with a brand by consolidating enterprise-wide customer data, and providing transparency across business groups and marketing programs.

Management needs visibility into company-wide plans to make sure that budgets, creatives and programs all support the overall business strategy and the customer experience.

SAS has strong marketing resource management capabilities that are completely integrated with marketing execution capabilities as well as performance metrics. For example, SAS Marketing Operations Management provides the ability to plan, manage and share programs across your SAS Customer Intelligence 360 platform gives you the ability to put those plans into action and engage with customers.

Epilog: Turnaround of the turnaround

Unfortunately, for the organization mentioned above, all the good was undone when a new CEO came in and decided that the current customers were not important for the direction he wanted to take the company. He changed pricing and promotions, corporate logo, store layouts and ditched strong product brands that current customers were loyal to. He severely eroded brand equity among current customers. He insisted that his changes would bring in younger, hipper customers. But it did not because the brand was not one those younger customers valued – no brand equity. That CEO did not last long but the damage was done. The company is now trying to recover from a massive debt burden and damage to its brand equity.

Hope for the future

In our scenario, the current CEO grounds every decision in data and information – not intuition and we will be able to tell a good story of recovery in the future.

tags: brand, brand equity, customer data, SAS Customer Intelligence 360, SAS Marketing Operations Management

Data can help revive brand equity was published on Customer Intelligence.

6月 292016
 

In my first post, I discussed the importance of brand equity and its relationship to good customer experience.

Consider this scenario of an organization where brand equity was negatively impacted by a fractured customer experience. In this case the “brand” is the corporate brand.

Internally, employees knew that the company was in trouble because:

  • It did not have a clear, complete picture of customers.
  • Each business area had their own definition of the customer based on their own partial data.
  • The marketing group targeted middle-aged, price-sensitive customers.
  • Advertising bought media that was targeted to younger audiences.
  • Merchandising targeted affluent households.
  • Customer service had no customer information.
  • Stores, catalog and Internet channels had different marketing programs.
  • Digital channels interacted with customers based on their narrow view of the customer.
  • Data was not shared, so no one had a complete picture of customers.
  • Marketing programs were not coordinated.

Needless to say, this negatively impacted customer experience. Customers were showing up in the stores holding two or three 183061092different promotions valid for that week. Confusion reigned as neither customers or employees were sure which promotions were good in which channel, or which could be used in combination.

The customer experience was a negative one, and marketing response rates declined as did sales and perception of the brand. It did not take long for Wall Street to figure out there were deep problems and the stock price sank.

The Turnaround

What saved this brand?

  • A unified view of the customer.
  • Shared customer insights.
  • Transparency of marketing processes.

The impetus was a turnaround CEO with a maniacal focus on customer and transparent coordination of processes around customer.

Actions

  • His first order of business was to accelerate an already in-progress effort to consolidate customer data across the organization.
  • He made data accessible to all business groups and channels for the tactical customer interaction decisions.
  • For strategic decisions, he demanded an analysis to clearly identify and profile the best and next-best customers. He then required every decision be aligned with these customers.
  • Every business area and every channel needed to show how their resources were being allocated to align with the various customer segments.
  • Interactive channels needed to show how they were supporting consistent messaging to various customer segments and using data to personalize the experience.

Results

  • For the first time, there was transparency of advertising and marketing promotions across all channels.
  • For the first time, business groups were aligned and had a coordinated message to communicate brand value to customers.
  • Customers saw the same messaging across all channels.
  • Customers understood what the brand stood for.
  • Over the next few years, market share increased, stock price soared 800 percent.
  • Employees were confident in their decisions and proud to work for the brand.

This scenario is a great learning experience of what can go right with a brand by consolidating enterprise-wide customer data, and providing transparency across business groups and marketing programs.

Management needs visibility into company-wide plans to make sure that budgets, creatives and programs all support the overall business strategy and the customer experience.

SAS has strong marketing resource management capabilities that are completely integrated with marketing execution capabilities as well as performance metrics. For example, SAS Marketing Operations Management provides the ability to plan, manage and share programs across your SAS Customer Intelligence 360 platform gives you the ability to put those plans into action and engage with customers.

Epilog: Turnaround of the turnaround

Unfortunately, for the organization mentioned above, all the good was undone when a new CEO came in and decided that the current customers were not important for the direction he wanted to take the company. He changed pricing and promotions, corporate logo, store layouts and ditched strong product brands that current customers were loyal to. He severely eroded brand equity among current customers. He insisted that his changes would bring in younger, hipper customers. But it did not because the brand was not one those younger customers valued – no brand equity. That CEO did not last long but the damage was done. The company is now trying to recover from a massive debt burden and damage to its brand equity.

Hope for the future

In our scenario, the current CEO grounds every decision in data and information – not intuition and we will be able to tell a good story of recovery in the future.

tags: brand, brand equity, customer data, SAS Customer Intelligence 360, SAS Marketing Operations Management

Data can help revive brand equity was published on Customer Intelligence.

6月 232016
 

When it comes to strong brand equity, everyone in the organization has to have a seat at the table. Brand equity is the result of positive interactions and transactions between the consumer and brand – across all touchpoints and all communication channels. It is built over time by brands being loyal to customers by providing them with the products, services, and interactions that they expect and value.

However, building brand equity is increasingly complicated by the number of touchpoints a brand has with consumers. As consumers, we have all experienced the frustration of being over-communicated to. Our mailboxes and inboxes are flooded, sometimes with conflicting messages. Or we continuously see marketing communications for things we already purchased or do not want. And even though we may be good customers of a brand, sometimes one channel does not recognize us or treat us as a loyal customer.

All of this is due to a breakdown in sharing of data, customer insights, and marketing plans across the enterprise.   The customer experience is not optimized and this negatively affects brand equity.

Brand equity is important to an organization because it means consumers trust and believe in the value of your brand over other Brand Equity bannerbrands.  Brands with strong brand equity have more pricing power. They are top of mind, and are the brands that customers go to first. And they are brands that consumers are willing and happy to receive communications from, resulting in higher response rates to marketing communications. Strong brand equity increases customer retention, marketing ROI, market share, profits, and shareholder value.

And that is why leading companies invest in improvements in customer experience. An organization that desires to increase brand equity, focuses on customer experience and will leverage all available data and analytics, across the enterprise, to create positive customer perception of their brand.

Forbes survey reveals approaches for building a better brand experience

The Forbes Insights, just published a report based on findings of a survey of business leaders.  In that report they state:

“Business leaders grasp the importance of enterprise-level data analytics for supporting brand and customer-focused initiatives.” It goes on to state:  “Data-driven CX (Customer Experience) is key for surpassing the competition in today’s hyper-competitive global economy. It takes a combination of factors…to deliver highly interactive, consistent, and contextual customer experiences which are critical for supporting the brand.  To achieve this, however, there needs to be greater alignment of people, processes and technology across enterprises—involving not only sales and marketing teams, but also other key players behind customer experience, including information technology, purchasing and production.”   SAS Marketing Operations Management

Today’s rapidly shifting consumers, competition and employee turnover make it even more important to have systems and processes in place to manage across the enterprise. Support for the customer experience need to be embedded across the organization, needs to go beyond one-time initiatives, and needs to be integrated with customer interaction channels.

In support of that, , see SAS Marketing Operations Management that provides the ability to plan, manage and visualize programs across your organization, as well as the new SAS Customer Intelligence 360 platform, which gives you the ability to put those plans into action and engage with customers.

Look for part 2 of this post where I discuss my own experience when brand equity suffered because of a fractured customer experience and how SAS can help you avoid this mistake.

tags: brand, brand equity, customer experience, customer insights, SAS Customer Intelligence 360, SAS Marketing Operations Management

Brand equity is built on customer experience was published on Customer Intelligence.