MaximizingMomentsofTruthCreatingMeaningfulReal-TimeCustomerInteractions

Gettingacompleteviewofcustomersatanymomentisanythingbuteasy.

Let’sChangeThat TM

Whoshouldreadthiswhitepaper?

• Marketerswhowanttouseanalyticstomakecustomerinteractionsmoremeaningful

• Analystslookingtobetterunderstandacustomer’scontextualdatainthemomentsoftruth

Whatwillyoufind?

• Examplesofcustomizedofferscalculatedinreal-timefromcontextualdata

• Bestpracticesforcapitalizingyourcustomer’smomentsoftruth

AbouttheAuthorLISALOFTISspecializesincustomerexperiencemanagement(CEM),customerrelationshipmanagement(CRM),businessintelligence(BI)andanalytics,datagovernanceanddatastrategyinitiatives.

Lisaspeaksfrequentlyatnationalandinternationalconferences,hasco-authoredthebookBuildingtheCustomer-CentricEnterprise(JohnWiley&Sons)andpublishesfrequentarticlesacrossavarietyofindustrypublications

“Listenmorethanyoutalk.Nobodylearnedanythingbyhearingthemselvesspeak.”

– RichardBranson

Introduction

Reactingtoourcustomer’s“momentsoftruth”willrequireunique,personalizedresponsesinrealtimethattranscendtraditionalmarketingandspanchannelsanddevices.Thisismorethanmarketingmaturity:it’sthenewmarketingimperative.

TaleofTwoOffers“Itwasthebestoftimes,itwastheworstoftimes.”

– CharlesDickens,ATaleofTwoCities

Jason’sJourney

Jasongoesshopping

Jasongoesshopping

Whilewaitingforsalesman,heusesthemobilebankingapponhissmartphonetocheckinterestratesforanautoloan,thenswipestocheckingaccountforbalance.

Jasongoesshopping

Bank’smobilechannelrecognizesJasonandsendsrequesttoReal-TimeDecisioning Engine(RTD).

requestedoffer

Jasongoesshopping

RTDappliesbusinessrules– eliminatesthetopscoredofferofHELOCbecausethecurrentchannelismobile.Sendsnextbestofferandarelationshipreviewtothemobilechannel.

InformationaboutJasonisretrievedfromthereal-timedatastoreandsenttoRTD.

Jasongoesshopping

Jasonacceptsofferandsetsanappointment.

returnedoffer

Jasongoesshopping

Bankstandardautoloanratedoesnotmatchthedealer’s.Jasongetsloanfromdealership.

Bankmissesopportunityforautoloan.

MomentsofTruth– MomentsofNow“Foreveriscomposedofnows.”

– EmilyDickinson

JasongoesshoppingIncontext

Jasongoestoacardealershiptotestdriveandbuyacar.

Jason’sJourneyinContext

JasongoesshoppingIncontext

Heusesthemobilebankingapponhissmartphonetocheckinterestratesforanautoloan,andthencomparesthemagainstdealerfinancing.

JasongoesshoppingIncontext

BankdetectsJason’swebactionaseventandsendsinfotoRTD.

requestedoffer

JasongoesshoppingIncontext

RTDre-ordersscoredpre-optimizedofferstofitsituationalcontext,offersdiscountedautoloanandsuggestedrelationshipreviewtoJason’sphone.

InformationaboutJasonisretrievedfromreal-timedatastore–includingthefactthatherecentlypaidoffapriorcarloan.

JasongoesshoppingIncontext

Jasonacceptsoffer– getsloanfrombankandsetsappointmentforreviewcall.

returnedoffer

JasongoesshoppingIncontext

Severaldayslater,Jason“likes”thebankonFacebook.

UnravelingtheMysteryAwonderfulfacttoreflectupon,thateveryhumancreatureis

constitutedtobethatprofoundsecretandmysterytoeveryother.”– CharlesDickens,ATaleofTwoCities

Recognizingandreactingtomicro-momentsrequiresaconfluenceofcontextualdata

Jason’sJourneyinContext

CustomerRelationshipContext

Isthesupportofthiscompanyrelevantinthenearfuture?•CustomerLifeCycle•Products/ServicesOwnership•PurchaseHistory•PredictiveAnalytics

PersonalContext

Isthisimportanttomeinlife?•Preferences•Attitudes•SocialConnections•Psychographics•ExpressedNeeds

Real-TimeContext- Situational

IstheresomethingIneedrightnow?•WebSearch•VisittoWebpage•Purchase•CalltoCallCenter•MobileApp•Location

ThePathtoReal-TimeOptimization“Andabeautifulworldwelivein,whenitispossible,andwhenmany

othersuchthingsarepossible,andnotonlypossible,butdone.”– CharlesDickens,ATaleofTwoCities

ParticipantsinarecentForbesInsightsStudyreportedthefollowingimpactsfromusinganalyticstooptimizedata-drivenCXinitiatives:

Fasterdecisionmaking

Betteranalyticsmeanbetterdecisions

62% 51%Betterinsightintoanda

commonviewofenterprisecustomers

49%Managersand

employeesaremoreconfidentabouttheirdecisions

Greaterengagementwithcustomers

Engagedcustomersbuymore

49% 47%Increased

sales/revenues

44%Morerepeatbusiness

fromcustomers

Costsavings/moreeffectiveuseofmarketingbudget

Improvedorganizationaleffectiveness

37% 36%Greatercollaborationbetweendepartments

32%Abilitytoreactmorequicklytomarketchanges

MakeoptimizationiterativeMeasureeffectivenessandrefineprocessesbeforeexpandingtheprogram.

BestPracticesHowtoCapitalizeontheMomentsofTruth

Putdatainthedriver’sseatEstablishingscope,breadthandintegrationofdataforcustomersandinteractionsiscritical.

BestPracticesHowtoCapitalizeontheMomentsofTruth

MapthemomentsoftruthThejourneymapisagoodwaytoidentifythosemomentsoftruththatwillhavesignificantimpactonthecustomerexperience.

BestPracticesHowtoCapitalizeontheMomentsofTruth

InvestinautomationItwouldbevirtuallyimpossibleforalargeormediumsizedcompanytodeliverresultswithoutarobusttechnologyplatform.

BestPracticesHowtoCapitalizeontheMomentsofTruth

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MaximizingMomentsofTruthCreatingMeaningfulReal-TimeCustomerInteractions

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