Date post: | 05-Jul-2015 |
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Turn your Digital Channel up to 11
a framework for success
in the age of the Connected Customer
We are all technology companies now.
As we in "Generation C" (the Connected generation) reveal our behavior, needs and preferences in our
online journeys, those technologies that offer easier, more transparent and cheaper ways to interpret our needs and help fulfill them are
winning favor, disrupting industries, and transforming world economies.
How is your transformation going?
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The digital channel…
1. Better customer relationships. By helping today’s Connected Customer do their research and prepare to buy before they even talk to us, we improve our reputation by delivering a more satisfying user experience, meeting them at their starting point: online.
2. Reduced cost of sales. Better-informed customers often buy more. Educated customers are more satisfied and loyal. This reduces our cost per sale. We can afford to improve. All of these factors add up to greater Customer Lifetime Value.
3. Better insight. By observing people’s online behavior and journey steps, we can improve our marketing and sales response, prioritizing our responses to each individual based on indications of interest and intent. We can also do our R&D by learning which products and features they seek, and direct our energies to give them more of that.
4. Better treatment. We can awaken inactive but interested leads with periodic opt-in and follow-up touches, so they remember us when they decide to buy.
5. Efficient operation. With the right analytics tools, all that data helps us understand our success factors, reward success more effectively, standardize best practice, and eliminate waste. We run leaner. That gives us more money to improve for customers.
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Year after year, analyst firms publish CXO surveys reporting that their transformation projects - involving CRM, email, sales automation, marketing automation and social technologies - often get derailed, deliver lackluster results, or sometimes even outright fail. This is not a tenable option. Common challenges include:
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Defining a customer experience strategy
Designing with sales, service and support staff as the primary users
integrating social selling and marketing automation
Leveraging dealflow management and sales coaching opportunities
Embedding best practice sales methodology
Applying “record of truth” data quality throughout the customer lifecycle
The digital channel…
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The digital channel…
By contrast, Fan Foundry’s business transformation clients almost uniformly report results that exceed expectations. What do our successful client projects have in common? We consider:
Audiences - users, buyers, customers, partners, prospects, public Channels - web, email, print, event, video, social Teams - marketing, sales, service, commerce, product, payment Workflows - IT, sales, marketing, ecommerce, service, product, R&D Content - Themes, formats, stories, journey stages Data - demographic, firmographic, behavior, purchase, preference
Ask: Whom should you involve, and how? Who cares about what, and why? Every line in this hexagon connects conversations about influences, impacts and outcomes.
Our “Going Digital” Success Framework The people, process and technology considerations
Data demographic • firmographic
behavior • purchase • preference
Workflows IT • sales • marketing
ecommerce service • product • R&D
Content themes • formats • stories
journey stages
Audiences users • buyers • customers
partners • prospects • public
Teams marketing • sales
service • commerce product • payment
Channels web • email • print event • video • social
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Ask: who cares about what,
and why?
Example 1: Each Audience has unique Channel, Team, Content, Data and Workflow requirements.
Data demographic • firmographic
behavior • purchase • preference
Workflows IT • sales • marketing
ecommerce service • product • R&D
Content themes • formats • stories
journey stages
Audiences users • buyers • customers
partners • prospects • public
Teams marketing • sales
service • commerce product • payment
Channels web • email • print event • video • social
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Our “Going Digital” Success Framework The people, process and technology considerations
Channels web • email • print event • video • social
Data demographic • firmographic
behavior • purchase • preference
Workflows IT • sales • marketing
ecommerce service • product • R&D
Content themes • formats • stories
journey stages
Audiences users • buyers • customers
partners • prospects • public
Teams marketing • sales
service • commerce product • payment
Example 1: Each Audience has unique Channel, Team, Content, Data and Workflow requirements.
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Our “Going Digital” Success Framework The people, process and technology considerations
Example 2: Each Channel has unique Team, Content, Data, Workflow and Audience requirements.
Data demographic • firmographic
behavior • purchase • preference
Workflows IT • sales • marketing
ecommerce service • product • R&D
Content themes • formats • stories
journey stages
Audiences users • buyers • customers
partners • prospects • public
Teams marketing • sales
service • commerce product • payment
Channels web • email • print event • video • social
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Our “Going Digital” Success Framework The people, process and technology considerations
When you have finished asking “Who cares about what, and why?” from all 6 perspectives, you have significantly raised your likelihood of transforming your organization to compete effectively and improve customer lifetime value.
Data demographic • firmographic
behavior • purchase • preference
Workflows IT • sales • marketing
ecommerce service • product • R&D
Content themes • formats • stories
journey stages
Audiences users • buyers • customers
partners • prospects • public
Teams marketing • sales
service • commerce product • payment
Ask: who cares about what,
and why?
Channels web • email • print event • video • social
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Our “Going Digital” Success Framework The people, process and technology considerations
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Here are a few more preparatory questions to ask yourself.
Has can “going digital” helped us to … • deliver a seamless customer experience ? • gain visibility and provide support throughout the customer lifecycle ? • build a reliable, single source of truth about customers and revenue?
Here are some potential benefits you can treat as measurable outcomes.
Grow revenues Improve forecasting accuracy
Reduce customer churn Improve revenue predictability
Improve renewals Provide a single datasource of truth
Improve sales execution Achieve a 360 degree view of customers
Create a transparent pipeline Support entire customer lifecycle
Support deal coaching Empower everyone to help clients
More Thought-starter questions
In the age of Generation C, the Connected Customer, it has never been more essential to transform. All you needed was the right partner, and here we are. Accelerate your transformation today.
Ed Alexander Chief Digital Consultant [email protected] +1 (781) 492-7638 USA East
For more information, contact:
BI & Business Development
Email Marketing
Content Marketing
SFA / CRM / Database
Appendix: An Agile Marketing, Sales and Service Governance Platform
Public
Visitor
Lead
Prospect Customer
Lead Scoring – conversion, click-through, multichannel
interaction, form fill, downloads, social interaction
Personalized Journeys – Sales engagement, Opportunity creation,
contact with Buyers, Decision Makers and Influencers
Campaign Attribution
Governance
Revenue Attribution
Community
Qualification Route to Sales
or Nurture Community
Awareness Web, Media, Event, Social, Mobile, App
Acceleration Behavioral Triggers to
engagement
Acquisition Encourage
Leads to talk with Sales
Call to Action Gather data, drive
engagement, retarget
Re-engage Next best
offer
Purchase Close, Upsell,
Support
Forecasts
Client Development – Conversion, Engage with
Sales, Service and Delivery Teams, R&D, Advocacy
Incremental Revenue
Go
als
O
per
atin
g
Pla
ns
Fin
anci
al
Mea
sure
s
Customer Lifetime Value
Value (transaction, relational)
as Competitive Advantage
Branding & Journey Mapping
Development, Activation
Revenue Goals Market Segments
Need
Consider
Evaluate
Journey
ROI
Negotiate Use Promote
Endorse
Mutual Value
Marketing Automation
Syst
ems
of
Enga
gem
ent
Sy
stem
s o
f R
eco
rd
Asset Management
Contact: Ed Alexander, Chief Digital Marketer [email protected] (781) 492-7638 USA East 13