Customer experience oracle by Ajay Kelkar

Return On Customer Not Return On Investment

Numbers That Matter

Ajay Kelkar, May 24th, 2017

Copyright © 2017 Hansa Cequity All rights reserved.



Cequity – Company Overview

75 million customer records

Enabling 10 million

transactions

300 automated campaigns every week

Participating in 5 million customer

conversations

What We Do We build Customer Equity. That’s our vow, that’s our game!

We help businesses ACQUIRE customers intelligently, RETAIN them optimally, MANAGE them profitably and ENGAGE them constantly

How We Do It Using our Customer Engagement Cloud, and years of consult expertise, we marry data, analytics, marketing strategy and customer experience to improve the organization’s profitability

DATA ANALYTICS

MARKETING

STRATEGY

CUSTOMER

EXPERIENCE

CONSULT


Agenda for today

•  The New marketing-how Marketing is changing? •  State of CX in India-Cequity research •  Transforming Marketing into a service

•  Silo busting-how to set your data free? •  How do you embed Analytics inside a company?

•  Why Analytics needs to Story tell? •  Wrap up-lessons learnt


HOW MARKETING IS CHANGING


A simple lesson…

7

v  Alisha Gupta

v  Online Shopper v  Age 3.5 Years

v  Montessori School

v  Favorite Gadget – iPad


We don’t believe in digital marketing. We believe in marketing in a digital world ��

Clive Sirkin, CMO of Kimberly Clark


The New Marketing

•  Marketing will move towards relevancy §  “Marketing that is done so well that it feels like a service”-To service is to Sell

•  “Marketing as a relationship” §  Customers would only respond to “profitable conversations” §  No one wants a relationship, unless it is relevant

•  Mass customisation: segmentation to increase dramatically §  From 3-5 segments that most businesses maintain to lights-out, automatic modelling

that is driven by the data §  Segment of 1


From Outside Your Industry The ‘TECH’ Players are competition


Customer obsessed companies


Marketers can again create long-term sustainable advantage

1950s+ Age of brand

1998+ Age of channel

2008+ Age of customer

Direct-to-consumer business model transformation

Low cost 1:1 targeting and engagement

Creation of national brands

National media and mass marketing

Internet and eCommerce

Social networks & digital media

“Contenders”

(Brand to Consumer)


Age of “Customer obsession”

•  Customers are global. •  They’re powerful. •  Social media has tipped the balance of power in their favour.

•  Consumers now exercise more power over our brands than we do. •  They are “always on”

•  Earlier, consumerism was about what they owned; today it is as much about what they share.


And yet companies are not “Customer obsessed”

•  Comfort with old ways of doing things •  Needs an internal evangelist •  Or a large “external” provocation

§  Online retail is one such provocateur for Brick & mortar in India & globally

•  Also require readiness to change current Operating models


Readiness to change operating models


Data Equity will rival Brand equity!

•  How companies store, transform & use their data will become as potent a marketing tool as Brand equity itself!

•  Companies have petabytes of data now!

•  If used powerfully enough, data about a customer can transform the customer experience!


More Data than ever to get a complete Customer snapshot

17

Her search query

Her past behavior on your site

Her history with your brand online and offline

Her social network and activity

All of her online activity

All of her purchase history,

online and off


And even more data to Append!



Consumer expectations have changed!

1.   Now:Consumerswillwanttointeractanywhereatany3me. 2.CanI:Dotrulynewthingsasdisparatekindsof informa3onaredeployedmoreeffec3velyinwaysthatcreatevalueforthem. 3.Forme:wanttobetargetedpreciselywithapersonalizedexperience. 4.Simply:Theywillexpectallinterac3onstobeeasy.









To service is to sell: Using data to “listen better”

Transforming Marketing into a Service!


60% Data & 100 % Execution

Gartner:Only20%ofenterprisewillusemorethan50%ofthetotaldatatheycollecttogaincompe<<veadvantage.






Leve

l of

dif

fere

nti

atio

n Unique

Low

My company

COMPETITION

Winning companies will differentiate basis Customer Experience

Analysis & Modelling

Campaign Development

Campaign Execution

Campaign Planning

Reporting & Tracking

3. Customer

1. Customer Strategy

2. Acquisition Propositions

2. Sales Propositions

2. Retention Propositions

2. Service Propositions

4. Measurement


DATA SHOULD NOT BE TRAPPED IN SILOS

Silo Busting




A single view of the customer

•  Delighting customers doesn’t build loyalty; reducing their effort—the work they must do to get their problem solved—does!

•  Customers want companies to be easier to do business with-Customer effort score •  Unified view of the customer can help you do this!


Building Blocks for a good Customer Experience strategy

•  Support an institutional memory of the customer: §  Different silos or “lines of business” creating campaigns & running them

independently means that you do not have a centralised contact history or “intelligence” about customer response

•  Enable dialogues not just campaigns: §  Consumer is no longer ready to listen to “push marketing” & the creation of a

“dialogue factory” is one essential element of a strong Customer strategy


HOW DO YOU EMBED ANALYTICS WITHIN A COMPANY?


Get quick wins

•  My experience across both Retail & Retail banking has been that it is best to start small, very small!

•  A lot of analytics can be done on an excel sheet and does not require a PhD in statistics to do.

•  The simpler the analysis the “lesser” is the barrier in implementing the call for action that emanates from it.

•  So use the “KISS principle”(Keep it simple stupid) & get early wins


Choose the area

•  Choose the business area where you want to make an impact. •  Businesses doing very well, have a lot of competing ideas clamouring for a share

of the credit.

•  It’s in the businesses that need help, that you will find maximum support. •  Get the CFO’s support for analytics.


Which source of data represents the most immediate opportunity?

38 % 38 % 16%

4 % 4 %

Existing underutilized “dark data”

More detail from

customer, suppliers

etc.

Social Media

Content

Publicly Available

Data

Commercially Available

Data


ANALYSTS AS STORYTELLERS


Become storytellers


Analytics & the world of Journalism

•  One of the most deadline filled industries in the world is getting it right with what it calls precision journalism!

•  Despite crazy deadlines, I am amazed at the powerful stories journalists write using data.

•  I wish the analytics industry was half way as good!!


NYT-Budget simulator


Analysts as storytellers

•  When presenting ideas to decision makers, realize that it is your responsibility to sell – not their responsibility to buy

•  Stories are the best way to influence!


Phd’s with Personality!

•  Storytelling with Data is becoming much more common today: §  because of vast amounts of data being available in the public space & §  also the emergence of a newer breed of younger, more “social” professionals

who consume such data with far more ease!



Wrap Up


Key Business Ideas

•  Build a core competency in “Data led” marketing §  By 2017 the CMO Will Spend More on IT Than the CIO (Gartner)

•  Let Customer strategy drive investment in Martech stack §  Choose technology aligned to your customer strategy


Key Business Ideas

•  Analytics doesn’t need you to solve only a technical problem but a “social” one

§  Focus on embedding analytics into the fabric of the company §  How do you demystify it & how do you link it to practical stuff-simplify it! §  Analysts should become storytellers! §  Analytics is both left & right brain!


Key Business Ideas

•  Customer behavior changes –spot them as they happen… §  Event based Marketing §  “Market so well that it feels like a service”


Key Business Ideas

•  Link Analytics to “the last mile” §  Analytics should not be expected to deliver a “Aha moment”-instead it is a factory approach to

improve CX §  So analytics is not a planning tool as much as it is a Execution tool

•  Establish a strong Customer management council: §  group of top leaders in the company who are able to mediate to solve the issues that arise out of

taking customer centric action.


Lessons

•  Transformation takes time – phase your approach, lead with a vision

•  Incorporate short-term wins in each phase to show value

•  Technology may be the easiest part: Process, skill sets, operating model, and

organization may be the hardest

•  Get strategic partners involved – learning’s can allow you to accelerate

•  Show ROI but also get acceptance for a wider metric: Return on Customer! Get the

CFO on your side first!

!


Feedback @

•  Email: [email protected] •  Twitter handle: @ajaykelkar •  http://in.linkedin.com/in/ajaykelkar1to1marketing

Date post:	21-Jan-2018
Category:	Marketing
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