Post on 16-Apr-2017
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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