Guest Executive Forum With Acxiom:
Insight: The New Vision Of Successful Consumer Engagement Strategy
Learn more: http://bit.ly/acxPWPfcxf12
Tim Suther, Chief Marketing Officer and Senior Vice President, Acxiom
Urcil E. Peters, Vice-President, Demand Generation/Customer Intelligence Solutions, Marriott Vacations Worldwide
Today's empowered consumer has virtually unlimited choice and information, creating new engagement patterns. While industry observers agree new strategies are needed, few define the "what" and "how." In this case-study-based discussion, we'll examine the most fundamental element in successful consumer marketing — multidimensional insight. Beyond the overwhelming flow of big data or the narrow focus of today's targeting options, examine how your brand insights can be the genesis to focus on the consumer, not the channel or campaign.
Youth Involvement in an Innovative Coconut Value Chain by Mwalimu Menza
Winning in the Age of the Empowered Consumer - Tim Suther, Forrester Marketing Leadership / Customer Intelligence Forum 2012 #FMF12
1. WINNING IN THE AGE OF THE
EMPOWERED CONSUMER…
GAMECHANGERS, IMPERATIVES & OPPORTUNITIES
TIM SUTHER
CHIEF MARKETING OFFICER, ACXIOM
URCIL PETERS
VP OF CUSTOMER INTELLIGENCE SOLUTIONS, MCVI
FORRESTER CUSTOMER INTELLIGENCE FORUM
APRIL 2012
®
2. WINNING
IN THE ERA OF THE EMPOWERED CONSUMER
> 2 trends that change
everything.
> 5 prescriptions that
matter.
> 3 big potential payoffs.
2
4. THE ERA OF THE EMPOWERED CONSUMER
Empowered consumers have unlimited choice & information.
> New opportunities for engagement.
> But, disruptive to loyalty, margins and marketing performance.
4
5. THE ERA OF BIG DATA
The world’s most valuable firms use “big data” to drive value.
> But, most value has come at the expense of brands.
> In response, brands need to develop and control insight about their
customers
…or be prepared to be the highest bidder for it.
5
7. IMPERATIVE:
INSIDE OUT
> Most marketers underweight “solving for customer value.”
> Start “inside”: know customer value, then invest proportionally.
> Then “out”: prospect to those who think, look, or act like your best
customers.
7
8. IMPERATIVE:
YOUR MULTIDIMENSIONAL INSIGHT
> No one signal consistently describes or predicts consumer behavior.
> Multidimensional insight: “refining across all relevant signals.”
> Use an enterprise data management platform to activate & evaluate
signals at scale.
9. IMPERATIVE:
OUTSIDE IN
> New consumer experiences & interfaces create new engagement
opportunities...and a wealth of interest & intent data.
> If used only online, digital data reaches a fraction of its potential.
> Also use digital data to optimize traditional CRM and media
weighting & placement.
10. IMPERATIVE:
INTERSECTION OF INSIGHTS
> Media’s big lie – “I can reach your audience.”
> Focus on the intersection of brand customer insight with media
contextual insight.
> Move beyond the popular (and most expensive).
> This, in turn, requires a safe haven and clear data rights.
10
11. IMPERATIVE:
TRUST
> Your most sensitive data is the most valuable…the temptation to go
to the dark side will be great.
> Protect your data. Offer a clear consumer value exchange. Provide
transparency and choice
…or risk the wrath of consumers, regulators, litigators & activists.
13. THE OPPORTUNITY IS LARGE
BEST PRACTICES YOU CAN ADOPT NOW
+15-30% +10-15% +5-7%
Marketing ROI Customer portfolio value Points of margin
> Increase targeting efficiency & > Improve health and breadth of > Increase number of enduringly
better attribute results to spend. insight about customers. loyal customers.
> Better influence & sense > Acquire & extend more profitable > Effectively cultivate word of
consumer behavior. relationships. mouth.
> More effective media > Redirect less profitable > Optimize use of pricing
substitution. Coherently integrate relationships. incentives.
new media. > Establish CLV-oriented KPIs to > De-commoditize intent.
> Improve marketing results with guide decision-making. > Minimize auction risk of your
trusted partners. > Optimize customer segments & consumer insight.
> Recapture value from ad tech multichannel contact strategies.
intermediaries. > Increase number of recognizable
> Improve test & learn consumers.
performance. > Increase ability to recognize
> Integrate & rationalize systems to consumers across channels.
reduce cost.
> Faster time to market.
> Real-time personalized offers.
14. WINNING
IN THE ERA OF THE EMPOWERED CONSUMER
> Big data & empowered
consumers require new
strategies.
> New strategies should be
based in 5 prescriptions.
> 3 big payoffs are achievable,
but require an enterprise
model.
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16. A MARRIOTT VACATION CLUB PERSPECTIVE
> Two Way Street. The Brand Defines Customer Experiences and What the
Customer Experiences Defines the Brand…
> Better Together. Delivering Customer Experiences through other brands.
> Vacation Your Way. Balancing Endless Choices with Meaningful Choices
> Can You See Them Now? Listen to Customers. And speak to them as if they
had a brain, a heart and a purpose
> What’s the Big Idea? Don’t use data just to know more use it to imagine
more.
> “Show Me That You Know Me.”