Understanding customer experiences and their journey is the key to survive business completion in the ever-changing marketing landscape. The presentation attempts to explain the customer intelligence signs of insights from the standpoint of situation analysis, human thinking & nature complexity and the advent of innovative technologies. Brands should design customer experience in a way that customer insights can be used as a competitive advantage over other businesses and at the same time can save millions of dollars.
3. WHY CUSTOMER
INTELLIGENCE MATTERS??
Brand authenticity
lifecycle
Contextualized
customer data
Continuous
engagement
Because, it is customer intelligence that
improvises the rapidly changing
Customers’ persona using customer
insights. Customer feedback is the truth
serum that links brands & customer
insight.
4. WHERE ARE YOU??
– IN CUSTOMER
INTELLIGENCE MATTERS To find out, ask yourself first:
• Are you Overselling or underselling?
• Are you aware of data literacy that makes
sense to your business?
• Can you predict what your customers are
up to next?
2016 was a year of data explosion and
customer intelligence innovation,
wherein, thousands of start-ups emerged
and revolutionized the way they do
business across the globe.
Human-
machine
interface
Use of
Artificial
Intelligen
ce tools
5. 20%
customers costs
more to serve than
the revenue they
generate
89% of
customers fail to
create a deep
personal brand
connection with the
brands they
purchase from
It costs 5 times
more to acquire a
new customer than
to retain an old one
WHAT’S YOUR
MARKETING MATURITY?
– CUSTOMER
INTELLIGENCE STATS
MATTERS!
6. Your brand is not authentic unless there is transparency, innovation and
knowledge of consumer taste complexity. To simply monetize on consumer
decisions, brands should step up into new methodologies, innovations keeping
consumer insight their pivotal focus.
TAKE THE AUTHENTICITY
CKHALLENGE WITH THESE
5 SIGNS !!!
7. #1 SOCIAL ENGAGEMENT
How many online audiences
are following you?
How is your social brand connection with
your customer?
• If your customer interactions are relevant &
matches with the crowd you want to attract,
you are on the right track.
• Find out what they are talking about to
focus on content curation tools to make
sure that your content is asper your
audience’s interests.
• Discover who influences them and what
drives those brand influencers.
8. #2 CHURN RATES - WATCH
OUT!
Are your churn rates
increasing or decreasing?
For every 5% churn rate each month, you
lose out 50% of customers that needs to be
replaced with new customer
Never calculate your customer churn rates as average
revenues churn rates. Each customer differs from the
other. Instead, check for the diverse versions of
churns that accrues from your customer base. Identify
gross churn rate (upgrades & upsells), net churn rate
(new customers), new churn rates over the time &
then calculate or compare rates of your company with
others.
9. #3 CUSTOMER FEEDBACK-
Are you missing out a critical
CX data? Listen Up…
Smile sheets, feedback forms, ratings,
grades, surveys and suggestions are ways
to find out meaningful information and how
you give weightage to their opinions.
Feedback benefits exploration of data and valuable
insights that you can mine out being realistic in
customers’ expectations and customers’ experience.
Interpreting them will only help you to filter the data
relevant to your business and improve marketing
strategies to deliver more effective results. Using
multiple channels to capture feedback for your brand
can help reaching out some of the unheard customers,
long-term customers & new customers.
10. #4 CHANGING SHOPPING
BEHAVIOUR-
Contradictory preferences,
mobile obsessions, rising
expectations, easy digital
navigations, positive brand
experience – Did you come
across any of these?
4 out of 5 customers will not come back if
they have a bad experience with the brand.
• Customers are going mobile. They expect
product availability at any moment and at any
channel.
• With the intervention of augmented reality (e.g.
Pokemon Go), exploring physical space &
motion accessibility in real time is no longer a
distant dream. Data will be analyzed to make all
digital information attached to the physical world.
• This will apparently result in rising businesses
connectivity to products via mobiles for faster
decision making.
• Businesses will incorporate (IOT) Internet of
things or M2M world of connected devices
11. #5 CUSTOMER EXPERIENCE
- Customers are
communicating their needs,
opinions, complaints etc. –
Are you listening?
Customers’ needs are changing, so are their
expectations. Capturing their voice and
converting them into intelligence by analyzing
& organizing them can translate the
investment on CI into dollars.
DON’T TARGET THE CUSTOMER. LISTEN
TO THE CUSTOMER!
Then Now
12. Well, that’s not all of the signs to
count upon to transform CX. There
are more insights that are powered
by data to explore from each
touchpoint that can help you
compare your business with others.
Stay tuned for more updates and
insights from “Subhakar Rao
Marketing Insights”. Explore a little
more!
Data Courtesy: visioncritical.com
Notes de l'éditeur
Description:
Understanding customer experiences and their journey is the key to survive business completion in the ever-changing marketing landscape. The presentation attempts to explain the customer intelligence signs of insights from the standpoint of situation analysis, human thinking & nature complexity and the advent of innovative technologies. Brands should design customer experience in a way that customer insights can be used as a competitive advantage over other businesses and at the same time can save millions of dollars.
Keywords: Customer intelligence, marketing metrics, Customer feedback, brand authenticity, customer data, engagement, Artificial Intelligence tools, consumer decisions, social brand connection, customer churn rates, customers’ experience, shopping behaviour, brand experience.