Customer Identity is the New Currency: Signal featuring Forrester Research
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Learn a breakdown of the different types of customer data and identity, plus how leading organizations are leveraging data and identity to create powerful customer experiences. This presentation features Fatemeh Khatibloo, Principal Analyst at Forrester Research, Inc. Fatemeh serves Customer Insights Professionals and her research has been featured in the New York Times, Wall Street Journal, AdAge and more. She's a frequently highly-rated speaker at industry events.
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Customer Identity is the New Currency: Signal featuring Forrester Research
- 1. Identity Is the New Currency Using Data & Identity to Power Customer Experiences in 2015 Signal Webinar March 31, 2015
- 2. Joe Stanhope SVP, Marketing Signal Fatemeh Khatibloo Principal Analyst Forrester Research Today’s Speakers
- 3. Data is Foundational for Identity Preparing for Cross Channel Success: Solving the Identity Puzzle Fireside Chat with Fatemeh Audience Q&A Today’s Agenda
- 4. We deliver the data + identity foundation for cross-channel marketing. > We’re a SaaS marketing technology company founded in 2009. > We’ve got 150+ people on our global team. > We’ve raised $50 million from leading investors. > More than 15,000 brands and agencies rely on our patented, real-time solution.
- 5. © 2015 Forrester Research, Inc. Reproduction Prohibited 5
- 6. © 2015 Forrester Research, Inc. Reproduction Prohibited 6
- 7. © 2015 Forrester Research, Inc. Reproduction Prohibited 7
- 8. © 2015 Forrester Research, Inc. Reproduction Prohibited 8 Data is foundational for identity
- 11. © 2015 Forrester Research, Inc. Reproduction Prohibited 11 Three types of data to consider First Party • “Owned” by your firm • Generated by interactions with your own audience and/or customers • Governed by your own privacy policies Second Party • May be co-owned • Shared co-operatively by or between business partners • Includes data shared by your own customers • Often anonymized or shared in aggregate • Governed by a shared set of policies Third Party • “Owned” by a vendor • Usually acquired on a CPM-type basis for specific purposes • Governed by a purchase agreement • Can be aggregated or at the individual level
- 12. © 2015 Forrester Research, Inc. Reproduction Prohibited 12 First-party data can tell you… › Who an individual is: name, address › How she interacts with your business › How she feels about your brand
- 13. © 2015 Forrester Research, Inc. Reproduction Prohibited 13 Second-party data can tell you… › What her intentions are, and how her needs are changing › How to reach her when she’s not on your site, and what content is most relevant to her › The identity she manifests with your business partners
- 14. © 2015 Forrester Research, Inc. Reproduction Prohibited 14 Third-party data can tell you… › What demographic and psychographic segments she falls into › Inferences about her interests and intentions
- 15. © 2015 Forrester Research, Inc. Reproduction Prohibited 15 Different types of data create different identities
- 16. © 2015 Forrester Research, Inc. Reproduction Prohibited 16 Identifying customers is complicated
- 17. © 2015 Forrester Research, Inc. Reproduction Prohibited 17 Getting identity right is a powerful enabler of contextual marketing
- 18. © 2015 Forrester Research, Inc. Reproduction Prohibited 18 Sephora lets customer help create identity
- 19. © 2015 Forrester Research, Inc. Reproduction Prohibited 19 Kaiser enables better journeys with identity
- 20. © 2015 Forrester Research, Inc. Reproduction Prohibited 20 Panera uses identity to improve experiences
- 21. © 2015 Forrester Research, Inc. Reproduction Prohibited 21 ESPN & Foursquare leverage identity in micro-mobile moments
- 22. © 2015 Forrester Research, Inc. Reproduction Prohibited 22 Insurance Box creates more engaged customers with shared identity
- 23. © 2015 Forrester Research, Inc. Reproduction Prohibited 23 Disney invent analog experiences with identity
- 25. © 2015 Forrester Research, Inc. Reproduction Prohibited 25 Next steps 1. Identify moments in your customer journey that could be improved with better identity 2. Identify the data sources that would enable better identity across your channels and business lines 3. Leverage partners to build out your identity platform
- 26. The Power of Identity Signal Special Global Report A comprehensive look at the state of identity in 2015 About the Survey Coverage in US, Canada, Europe, Latin America, Asia, and the Middle East Brand and agency marketers 171 respondents 16 industries
- 27. Insight 1 A unified customer view remains out of reach, keeping marketers stuck at the cross-channel starting line.
- 28. Less than half of marketers are satisfied with their cross-channel progress Q. How satisfied are you with the progress your brand has made in integrating marketing campaigns across multiple channels, including online and offline touch points?
- 29. An adequate single customer view is the exception, not the rule Q. Do you have a single view of your customers and prospects across devices and touch-points?
- 30. Insight #2 Current approaches to a unified customer view are complex to implement and fail to plug the gaps.
- 31. Marketers prefer managing single customer view efforts in- house but take a variety of hybrid approaches Q. What is the current or preferred approach to building a single view of your customers?
- 32. Despite significant effort, data coverage skews towards digital sources and major gaps still exist Q. From which channels are you currently able to collect and integrate data?
- 33. Insight #3 Gathering and merging data as customers interact across touchpoints remains a significant hurdle.
- 34. Few solutions are providing a complete set of capabilities to build an effective single customer view Q. How well are your current tools and technologies helping you build a single view of the customer?
- 35. Satisfaction is lackluster across all aspects of single customer view solution capabilities Q. How satisfied are you with the following aspects of your current single customer view solution?
- 36. Building profiles and collecting data are top challenges Q. What have been the biggest challenges to building a single view of the customer?
- 37. Insight #4 Marketers are focused on mastering data collection and cross-channel measurement before graduating to more advanced use cases.
- 38. Lack of a single customer view primarily inhibits measurement and personalization today Q. To what extent does fragmented data or fragmented profiles hinder your marketing efforts?
- 39. Data collection challenges span channel and data coverage Q. Are you able to capture data from every customer channel that’s important to you?
- 40. Insight #5 Marketers’ eyes are on the cross-channel identity prize.
- 41. The vast majority of marketers say a single customer view is important or essential to meeting their objectives Q. How important is a single view of the customer across touchpoints and devices to achieving your marketing goals?
- 42. A single customer view is worth the effort Q. What are the business benefits to having a single view of the customer?
- 43. Take steps towards a single view Take a strategic approach to identity Start with a data assessment Be ready to integrate on the tech side Benchmark and monitor customer visibility over time Recommendations
- 44. Fireside Chat
- 45. Audience Q&A
Notes de l'éditeur
- 1. Introduction - About Signal, today's topic, intro FK 2. FK - Data as a basis for innovation, to be lead by CMOs, types of identity, and examples of companies doing it well today (collecting data, creating identity, taking action) 3. JS - Discuss Signal Signal Customer View industry research findings 4. FK+JS - Fireside Chat, Joe and Fatemeh discuss 3-5 interesting questions/topics, to be reviewed and agreed prior to webinar 5. Audience Q&A - as time allows
- Think about the last time you bought a car. You probably did a few searches online, and you probably asked friends or family – maybe on Facebook – what cars they drive and love. And soon after, you probably started to see display ads on some of your favorites sites for cars and different car sales sites. Then maybe you went to a dealership for a test drive before settling on a make, model, and all the bells and whistles.
- You might have sat down at the dealership, applied for financing and gotten your registration taken care of all at once. Then, you probably went home and bought an insurance policy for you new car – where you had to provide your DL # and the car’s VIN
- The, over the years, you probably had the car serviced on a regular basis, often at the dealership where you bought the car. And that dealership (and maybe the manufacturer), if it did a good job, sent you relevant and contextually appropriate communications about your vehicle, financing offers, etc. The ability to service your customers this way – to anticipate their needs and to create opportunities – is tremendously dependent under having a keen understanding of who they are. This gets to the very heart of what we want to talk about today: identity and your ability to use data appropriately to stitch together a rich
- Every industry is being disrupted by data-driven strategic changes Education is changing because of what we can measure. Teachers, parents are consumers here. Data enables Ask, Discover, Buy
- Every industry is being disrupted by data-driven strategic changes Even the oldest industry –agriculture – has massively changed. -> John Deere is using data literally throughout the whole cycle with its Future Farm vision. In each of these cases, the solution doesn’t work if the industry doesn’t know who the individual using their product and services are. To create that identity, you have to consider the various types of available data.
- For example, if you can stitch together a social ID by getting a customer to log in via social sign on, that can be quite persistent (eg, multisession) and quite individual. Meanwhile, an IP address, while individual, isn’t truly identifiable at the individual level, so it typically gets bucketed into a segment. And these data are changing ALL the time. For example, a year ago, when we published this graphic, mobile MAC addresses were pretty persistent. Now, Apple randomizes the MAC ID every time a devices registers on a network, rendering the multisession quality of that data point obsolete.
- In other words, identifying your customers persisitently and across channels is HARD. Not only do you have the types of DATA I mentioned before, youalso have the myriad TOUCHPOINTS to deal with. In some cases, like your call center or store, you can get pretty good about knowing who hthey are. But on external sites or even on your ownd igital properties? Unless you put in the work and effort to create a holistic ID, you’re sort of reyling on someone ELSE’S perception of who your customer is.
- Data’s creating new ways of engaging with customers, too. Kaiser Permanente (9.1 million people to their health care teams, and over 4 million patients use their patient portal My Health Manager to view clinical information and lab results) The Pebble – and soon the Apple Watch – create new “micromoments” that deliver powerful, contextually relevant interactions in the blink of an eye.
- After observing potential customers leaving without ordering because employees were too busy to serve them, Panera decided to upend the existing in-store customer journey in favor of a streamlined digital solution. iPad kiosks will supplement standard counter service, and customers will also be able to order and pay from their iPhones, entering their table number into the app so employees know where to bring the food.
- In Australia, two companies with two completely unique DATA SETS created a JV leveraging both to meet market demand for true UBI. Joint venture between Intellitrac (a telematics device makers) and QBE (one of the largest insurance underwriters in Australia) Consumers install the device which tracks GPS, speeds, distances, times of day the car is driven Insurance rates are based on traditional actuarial tables PLUS a series of scores – which are transparent to the customer, and which they can improve by changing their behavior
- The appropriate channel is whichever one a guest chooses, regardless of our internal structure. No single team 'owns' a guest, but someone must own the moment in real time, for each interaction
- Identity – and the data that power it – are the key to the 360 degree customer view we’re all so passionate about.