Webinar: How social insights are revolutionizing customer experience

Webinar/Bigger Than Marketing: How Social Insights Can Revolutionize Customer Experience

CMO, Brandwatch

will@brandwatch.com

Will McInnesAnalyst, Forrester

cmunchbach@forrester.com

Cory Munchbach

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

Source: October 10, 2013, “Competitive Strategy In The Age Of The Customer” Forrester report

Michael Porter’s five forces revisited

Source: October 10, 2013, “Competitive Strategy In The Age Of The Customer” Forrester report

We have entered the age of the customer

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.

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.

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.

CMOs prioritize acquisition over retention.

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.

CX strategy lacks a grounding

Source: January 14, 2014, “The Convergence Of Brand, Customer Experience, And Marketing” Forrester report

Responsibility for CX is fragmented

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

Our customers are experiencing this increasingly loud and confident customer voice

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%

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.”

2. Speed

FasterCheaper Better

Everyone needs to work with the same definitions in order to align disciplines.

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

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

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?

The new hierarchy

Brand strategy

Customer experience strategy

Operations: marketing, sales, services

Feedback to maintain

alignment

Customer touchpoints + brand exposures = total brand experience

Source: January 14, 2014, “The Convergence Of Brand, Customer Experience, And Marketing” Forrester report

Venn diagram of CX, Social, Marketing

CXSocial

Marketing

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

Retail example

Retail exampleBanking example

Contact center example

Use the customer life cycle to unify marketing and customer experience

ENGAGE

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

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.

Marketing’s future is building more, and more relevant interactions

Marketing’s job in the real time era: spark the cycle

MARKETING’S FUTURE IS BUILDING MORE AND MORE RELEVANT INTERACTIONS

ENGAGE

USE BUY

EXPLORE

DISCOVER

Do you have the data you need to sustain the cycle?

Practical Examples

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”

Use Example

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

Ask Example

My LG or my phone in the same sentence as:

either mentions like “won’t turn on” OR “hasn’t been functioning properly”

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”

How do they split out?

ENGAGE

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.

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

Thank youCory Munchbach

+1 617.613.6534

cmunchbach@forrester.com

Twitter: @corinnejames

Find more content here:brandwatch.com/blog

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