Date post: | 15-Apr-2017 |
Category: |
Technology |
Upload: | brad-arsenault |
View: | 83 times |
Download: | 2 times |
Crea&ngIndividualisedCustomerExperiencesInTheDigitalAgeWithhosts:Dr.SteveNu1all,HeadofCXResearchatFi=hQuadrant&KrisBMansfield,DirectorofCXandTransformaBonatOracle
Hostedby
Copyright © 2016 Fi1h Quadrant www.Fi1hQuadrant.com.au
Dr.SteveNu1allHeadofCXResearch
Fi=hQuadrant
KrisBMansfield
DirectorofCXandTransformaBonOracle
Contents
1. CustomersaredemandinghigherlevelsofpersonalisaBon2. WhatisindividualisaBon?3. Businessesthatgetitarewinning4. IndividualisaBonisoneofthetopprioriBesforinvestmentfor2016-175. HowtobecomecustomernaBveanddeliverindividualcustomer
experiences6. WhydigitaltransformaBonisakeyenablerofindividualisaBon
Copyright © 2016 Fi1h Quadrant www.Fi1hQuadrant.com.au
1.CustomersaredemandinghigherlevelsofpersonalisaBon
Copyright © 2016 Fi1h Quadrant www.Fi1hQuadrant.com.au
MassProducBonMassCustomizaBonSegmentaBonPersonalizaBon IndividualizaBon
YourcustomersarenowinchargeFromGenZtotheGreatestGen
Millennialsarethenewcustomer!
Sources:E&Y,WealthFront,PewResearch,WorldBank,McCrindle,ABS
Borna=erOftheworldpopulaBon
Oftheglobalworkforceby2025
LivinginAustralia
Millennialhouseholdincome(avg.)
Averagenetworth
30%1980 60%5.15m $113k $268k
8
Empoweredconsumersexpectmore
GivemeaposiBveexperienceandI’m3xmorelikelytobealoyalcustomer
Agreatexperiencemeansyoucouldincreasecross-sellingopportuni&esby5x
IexpectadvicebasedonmylocaBon(59%)
Iexpectreal-BmerecommendaBons(54%)
Source:WorldRetailBankingreport,Capgemini/EFMA,2014
9
Themoderncustomerexperience:fast,digitalandunstructured
60%Ofconsumerpurchasesare
impactedbydigitalinteracBons(Forrester)
12%OfmarketersbelievetheirmarkeBngisreal-Bme
enoughtodriveadequateresults(eConsultancy)
ForyourconsideraBon
DoesyourorganisaBonprovideeitherofthefollowing?
1. Acompleteviewofeachcustomers’historyacrosschannels2. TheabilitytocombineinformaBonfromdifferentinteracBonstoprovidea
seamlessserviceforcustomers
Typical customer pain points
Thecompanynotknowingyourhistoryacrossdifferentchannels
ThecompanynotbeingabletocombineinformaBoncollectedfromdifferentinteracBonstoprovideyouwithaseamlessservice
HavingtorepeatyourqueryeachBme
HavingtorepeatyouraccountandidenBficaBoninformaBoneachBme
InspireEvaluate
ConfirmPurchase
Car Wait
Pick up
Info
Offers
Actions
Pre-Purchase Purchase Post-Purchase
PersonalizaBontoday
CustomerprofilingSegmenta?on
Contenttarge?ngSocialmedialistening
NextbestofferContentmarke?ng
Loca?onbasedmarke?ngCommerce
IndividualizaBonisachievedwhencustomerintenBonisanBcipated,understood&acBoned
84%ofbusinesseshaveexperiencedatrendtowardscustomerswan&nganindividualizedexperience
Only1in5saytheycaneffec&velyofferanindividualizedexperience
IndividualizaBonandagilityarekeytorevenuegrowth.BItools,CXsolu&ons,playavitalrole.
81%believecloud-basedsolu&onsareimportanttodeliveringindividualizedcustomerexperience
Source:OracleIndividualizaBonResearchstudy,April2016
BusinesseswhodeliverreapcompeBBveadvantage
$57–Lessperacquiredcustomer
23%Premiumintermsofshareofwallet,profitability
Awareness&Acquisi&on Reten&onConversion
$55millionto$1.6billion
annualimprovement
Sources:Forrester&Gallup
ManybusinessesandGovernmentorganisaBonsdon’thavetheluxuryof
starBngwithacleanslate;theymustbuildanarchitecturedesignedfortheCustomer-
led,digitalenterpriseonalegacyfoundaBon
ForyourconsideraBon
Lookingahead,whichofthefollowingisyourorganisaBonpuongthehighestinvestmentpriorityonfor2017?1. PersonalisaBon2. Data&analyBcs3. CustomerrelaBonshipmanagement(CRM)
OrganisaBonsareprioriBsingtechnologyinvestmentsondataandanalyBcstoenableimprovedchannelexperiencesandahigherlevelofpersonalisaBon.
Source:Fi=hQuadrant
CXInvestmentPriori&esfor2016
7%
17%
15%
27%
49%
36%
PersonalisaBon
Data&AnalyBcs
CustomerRelaBonshipManagement(CRM)
HighestPriorityforTechnologyInvestment TopPrioriBes
HighinRetail
Base:Allrespondents2016(n=382)Q32.HowimportantispersonalisaBonaspartofyourorganisaBon’scustomerexperiencestrategy?
Importanceofpersonalisa&onincustomerexperiencestrategy
InretailoverahalfofbusinessesconsiderpersonalisaBontobeveryimportanttotheircustomerexperiencestrategy.
2% 13% 33% 52%
Notimportantatall Notveryimportant Quiteimportant Veryimportant
59%
44%
34%
31%
30%
29%
19%
12%
10%
CustomertransacBondata
Customerdemographics
Socialmediadata
Customerresearchdata
Loyaltyprogramdata
In-storecustomerbehaviourdata
Webbrowsingandsmartphoneappdata
Mobiledeviceusergenerateddata
None
Base:2016(n=347)Q35.Whatdatadoyouusetoenableyoutopersonalisecontent/products/services?
Datausedtopersonalisecontent,productsorservices
ThemoreinnovaBveretailersusecustomertransacBon,demographicsandsocialmediadatawhenpersonalisingcontent,productsorservicesforcustomers.
66%ofthosewithloyaltyprogramsuse
thedataforpersonalisaBon
• Offermeaningfuldeals
• Customiseproducts
• Providecustomerswithcontrolofpersonaldata
• Perceivedlackofcareinhandlingdata
• Intrusiveloyaltyprograms
• Lackofclarityondatapolicies
• Irrelevantoffers
• Spamming
• Perceivedabuseofpersonaldata
• Breakingcustomertrust
Source:CapGemini–PrivacyPlease:WhyRetailersNeedtoRethinkPersonalisaBon
TheLaggards
TheFavourites
TheAspirants
I’mlikelytospendmoreinastorewhenIfeellikeavaluedcustomer.
Ifeelvaluedwhenastoreremembersmyname/order/previouspurchases.
I’mmorelikelytoreturntoastorethatremembersmyname/order/previouspurchases.
Iwillstayloyaltoabusinessthatpersonalisesmyexperience.
82% 75% 68% 74%
Customersvalueanindividualisedretailcustomerexperience
Australianretailbusinessesshoulddomoretopersonalisemyshoppingexperience.
58%
…andaredemandingmorefromAustralianbusinesses
LinkdisparateIDstotherightcustomers
Targe&ngImprovemediaspendefficiencyandincreaseconversionrates
ConnectOnlineandOfflineTapintoofflinepurchaseinterac?ons
MaximizeExis&ngMarke&ngAssetsLeverageyourmarke?ngandCRMtoolstoexpandpoolofIDs
CookieIDs
SocialIDs
PurchaseIDs
MobileIDs
PostalIDs
EmailIDs
Adap&veOrchestrateexperiencesrapidlybasedonbehavior,preferenceora1ributes
AccurateUnderstandingthecustomeracrossall
touchpoints
IntelligentOpBmizecontentand
experiencesthatareself-learningandpredicBve
OpenIntegratesintotheCXenablingtechnologiesacrossthebusiness
Data-DrivenConnectfragmenteddata
sourcestodeliverpersonalizedexperiences
Thecomponentsforanindividualizedcustomerexperience
FourfactorsunderpinasuccessfulindividualisaBonprogram
Knowandunderstandthecustomerjourney&customerexperience
Crossfunc&onalsupport&collabora&on
Pillarsofsuccess
Leveragingbigdataandcloudtechnologytoenableindividualisa&on
CreateaSeamlessindividualandintegratedexperienceacrosschannels
SmartOffers&AcBons
Best-FitCandidates
Best-ValueFreight
CXCloud HCMCloud SCMCloud
Web-ScaleData
Outcomes
DecisionScience
OpBmizedPaymentTerms
ERPCloud
MachineLearning
A.I.–MachinelearningandtheevoluBonanddevelopmentofapplicaBons
Photo Credit: Rog01 – Flickr.com