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Social media monitoring may have gotten its start as just another weapon in the marketer’s arsenal, but smart organizations around the world have realized that the sky’s the limit when it comes to the benefits that social insights can provide. That includes the customer life cycle across the brand experience—one of the biggest areas of focus for the modern enterprise. In these webinar slides, Brandwatch CMO Will McInnes and guest speaker Cory Munchbach from Forrester Research, Inc. discuss how insights & analytics from social media monitoring are acting as a building block to customer experience and business success, including across areas such as: - Retail - Call centers - Digital customer experience - Product feedback More info available here: http://bit.ly/1mjESg6
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Webinar/Bigger Than Marketing: How Social Insights Can Revolutionize Customer Experience
CMO, Brandwatch
Will McInnesAnalyst, Forrester
Cory Munchbach
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Don’t be shy/We’d love your participation
• Ask questions in the session chat
• Tweet about out discussion
@brandwatch
#brandwatchtips
A download and recording of the webinar will be made available after the event
© 2014 Forrester Research, Inc. Reproduction Prohibited 3
Source: October 10, 2013, “Competitive Strategy In The Age Of The Customer” Forrester report
Michael Porter’s five forces revisited
© 2014 Forrester Research, Inc. Reproduction Prohibited 4
Source: October 10, 2013, “Competitive Strategy In The Age Of The Customer” Forrester report
We have entered the age of the customer
© 2014 Forrester Research, Inc. Reproduction Prohibited 5
Customer obsession:
A customer-obsessed enterprise focuses its strategy, its energy, and its budget on processes that enhance knowledge of and engagement with customers and prioritizes these over maintaining traditional competitive barriers.
© 2014 Forrester Research, Inc. Reproduction Prohibited 6
Strategic budget imperatives for the customer-obsessed enterprise
Spend less on:
• Personalization without customer value.
• Mass emails.• Inflexible content management
systems.
Spend more on:
• Experience maps for point-in-time relevance.
• Touchpoint-specific behavior analysis.
Shift spending from general to contextualized customer experiences.
© 2014 Forrester Research, Inc. Reproduction Prohibited 7
The tension that is building between marketing and customer experience will result in a winner — customer experience.
Marketing is an important process but will have to take orders from the CX leaders to do the job right in a customer-obsessed world.
CMOs who get it will take over the CX role and lead brand and CX together, but those who don’t will have a new boss to answer to.
CUSTOMER EXPERIENCE WILL SUBSUME MARKETING.
Marketing is pretending to be customer-obsessed.
© 2014 Forrester Research, Inc. Reproduction Prohibited 9
63%
22%
CMOs prioritize acquisition over retention.
69%
36%
Segmentation studies are used more than lifetime value.
Few marketers use needs-based personas.8%
Customer experience and marketing need to move in the same direction.
© 2014 Forrester Research, Inc. Reproduction Prohibited 11
CX strategy lacks a grounding
Source: January 14, 2014, “The Convergence Of Brand, Customer Experience, And Marketing” Forrester report
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Responsibility for CX is fragmented
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Goals and measurement are disconnected
Customer experience Marketing
Source: November 9, 2012, “Better Customer Experience Correlates To Higher Net Promoter Scores” Forrester report; January 22, 2013, “Embed The Customer Life Cycle Across Marketing” Forrester report
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Our customers are experiencing this increasingly loud and confident customer voice
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How do clients use Brandwatch
Use Case Percentage of Total CustomersBrand/reputation management 80%
Finding influencers/advocates 55%
Market research 50%
Campaign 45%
Crisis management 44%
Community management 26%
PR 25%
Customer services 21%
SEO 10%
Lead generation 8%
Other 4%
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1. “If you’ve got the data, great, let’s look at it, but if we’re going on opinion then let’s go with mine.”
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2. Speed
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FasterCheaper Better
Everyone needs to work with the same definitions in order to align disciplines.
© 2014 Forrester Research, Inc. Reproduction Prohibited 22
Brand definitions
Brand [brand] noun: the collection of values, objectives, perceptions, and assets from which the company identity and strategy is built
See also brand strategy: a set of guidelines that ensures business decisions and interactions reinforce and convey the brand promise
Brand experience: the sum of all the impressions the customer has of and with the brand, including one-way messaging, direct interactions, and peer-to-peer conversations
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Customer experience definitions
Customer experience [kuhs-tuh-mer ik-speer-ee-uhns] noun: the perception your customers have of their interactions with your company
See also customer experience strategy: a plan that defines the intended experience and guides the activities and resource allocation needed to deliver an experience that meets or exceeds customer expectations
© 2014 Forrester Research, Inc. Reproduction Prohibited 24
Marketing definition
Marketing [mahr-ki-ting] noun: the processes and tactics with which expectations for the customer experience are set and brand messages are distributed
How do they all fit together?
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The new hierarchy
Brand strategy
Customer experience strategy
Operations: marketing, sales, services
Feedback to maintain
alignment
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Customer touchpoints + brand exposures = total brand experience
Source: January 14, 2014, “The Convergence Of Brand, Customer Experience, And Marketing” Forrester report
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Venn diagram of CX, Social, Marketing
CXSocial
Marketing
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Social insights to CX go across the enterprise
Product Development
Operations & Distribution
Sales & Marketing
Customer Service
Business Support
Demand forecastingCustomer insights
Consumer insights
Review Data
Social sellingConsumer insights
Marketing campaignsReputation management
Social Customer Care Recruitment Employee issues
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Retail example
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Retail exampleBanking example
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Contact center example
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Use the customer life cycle to unify marketing and customer experience
ENGAGE
ASK
USE BUY
EXPLORE
DISCOVER
The enterprise’s view of the phases a customer passes through in the
course of an ongoing relationship with a company
ENGAGE
ASK
USE BUY
EXPLORE
DISCOVER
Customers are exposed to the initial trigger that will lead them to a new need or repeat
purchase of an existing need.
Customers research your brand and product — and their other
options.
Customers go through the purchase process and complete the transaction.
Customers take possession of their purchase, which includes initial and ongoing
impressions of it.
Customers reach out to get service or help with a purchase.
Customers connect with brands for nonservice reasons across multiple
channels.
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Marketing’s future is building more, and more relevant interactions
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Marketing’s job in the real time era: spark the cycle
MARKETING’S FUTURE IS BUILDING MORE AND MORE RELEVANT INTERACTIONS
ENGAGE
ASK
USE BUY
EXPLORE
DISCOVER
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Do you have the data you need to sustain the cycle?
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Practical Examples
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Buy Example
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Buy Example
Past tense of purchase + synonymsPresent to focus on the “now”
Get and got next to G2 to avoidirrelevancy Present without “about to” or “going to” will be showcasing purchase intent (“I want topurchase” or “should I get G2 or Nexus”)
To avoid: “buy x get x free”
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Use Example
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Buy Example
Positive and negative emotions related to a product or a service
Personal pronouns to focus on personal experience
Putting the conversation in the context of the G2 product specifically
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Ask Example
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My LG or my phone in the same sentence as:
either mentions like “won’t turn on” OR “hasn’t been functioning properly”
OR
As:“is sluggish” OR “is dying” OR “can crash any second”
Not “how to” to focus on personal questions “how can I … in my G2”
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How do they split out?
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ENGAGE
ASK
USE BUY
EXPLORE
DISCOVER
Customers reach out to get service or help with a
purchase.
Customers research your brand and product — and their
other options.
Customers are exposed to the initial trigger that will lead
them to a new need or repeat purchase of an existing need.
Customers connect with brands for nonservice reasons
across multiple channels.
Customers take possession of their purchase, which includes initial and ongoing impressions
of it.
Customers go through the purchase process and
complete the transaction.
© 2014 Forrester Research, Inc. Reproduction Prohibited 48
Key Takeaways
1. Brand, marketing, and customer experience are converging – for the customer and the business
2. The Customer Life Cycle is a framework that the whole organization should use to understand the customer
3. Social data can provide critical insights in each phase of the Life Cycle – for marketing and other departments
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