Visions in Marketing: Finding the signal through the noise

19
Visions in marketing Finding the signal through the noise A report by the Economist Intelligence Unit Sponsored by

Transcript of Visions in Marketing: Finding the signal through the noise

Page 1: Visions in Marketing: Finding the signal through the noise

Visions in marketing

Finding the signal through the noiseA report by the Economist Intelligence Unit

Sponsored by

Page 2: Visions in Marketing: Finding the signal through the noise

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Contents

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Executive

summary

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z New ways of engaging with customers

through multiple channels are changing

the customer experience in the B2B space. )RU�H[DPSOH��VRFLDO�PHGLD�UHPDLQV�LQ�DQ�H[SHULPHQWDO�VWDJH�IRU�PRVW�%�%�FRPSDQLHV��DOWKRXJK�LW�LV�H[SHFWHG�WR�JURZ�LQ�UHOHYDQFH��,Q�SDUDOOHO��RQOLQH�YLGHR�LV�H[SHFWHG�WR�EHFRPH�PRUH�SUHYDOHQW�DV�D�FKDQQHO��DQG�PDUNHWHUV�DUH�FXVWRPLVLQJ�WKHLU�PHVVDJHV�IRU�PRELOH�SODWIRUPV��7KLV�PDNHV�WKH�GHVLJQ�DQG�XVHU�H[SHULHQFH�PRUH�LPSRUWDQW�IRU�PDUNHWHUV�WR�UHDFK�FXVWRPHUV�WKURXJK�LQVWDQW��KLJKO\�YLVXDO�PHGLXPV���

z Improving customer engagement is building

customer lifetime value.�7KLV�LV�SDUWLFXODUO\�LPSRUWDQW�LQ�RUGHU�WR�LQFUHDVH�UHWHQWLRQ��WR�

DFKLHYH�WKLV��GHOLYHULQJ�D�FRKHUHQW�FXVWRPHU�H[SHULHQFH�LV�FUXFLDO��7KLV�LV�D�SDUWLFXODU�FKDOOHQJH�IRU�FRPSDQLHV�ZLWK�FRPSOH[�SURGXFWV�RU�D�PXOWLWXGH�RI�RSWLRQV�DYDLODEOH�IRU�FXVWRPHUV�DFURVV�VHYHUDO�GHOLYHU\�SODWIRUPV��6XFK�FRPSDQLHV�DUH�LQFUHDVLQJO\�ORRNLQJ�WR�XVH�WKHLU�FXVWRPHUV·�H[SHULHQFH�DV�D�ZD\�RI�GLIIHUHQWLDWLQJ�WKHPVHOYHV�IURP�WKHLU�FRPSHWLWRUV��$W�WKH�VDPH�WLPH��PLQLQJ�FXVWRPHU�LQVLJKWV�LV�FUXFLDO�WR�GHWHUPLQLQJ�WUHQGV�DQG�HQJDJHPHQW�SDWWHUQV�DORQJ�WKH�EX\LQJ�F\FOH��DOORZLQJ�FRPSDQLHV�WR�WDLORU�PHVVDJHV�WR�HYHU�QDUURZHU�FXVWRPHU�VHJPHQWV���

z Customer feedback, combined with the

new insights gleaned through analytic tools,

DUH�LQÁXHQFLQJ�SURGXFW�GHYHORSPHQW�DQG�design, as well as increasing speed to market. 0DUNHWLQJ�LQIRUPDWLRQ�LV�EHFRPLQJ�PRUH�LPSRUWDQW�DV�D�FRPSHWLWLYH�IDFWRU�LQ�LQGXVWU\��GULYLQJ�D�JUHDWHU�UROH�IRU�WKH�PDUNHWLQJ�IXQFWLRQ�DFURVV�WKH�RUJDQLVDWLRQ��7R�OHYHUDJH�WKH�QHZ�UROH�RI�PDUNHWLQJ�UHTXLUHV�D�FKDQJH�LQ�SURFHVV�RU�RSHUDWLQJ�VWUXFWXUH��HQDEOLQJ�PDUNHWHUV�WR�VKDUH�LQVLJKWV�TXLFNO\��7KLV�PHDQV�ERWK�WHFKQRORJ\�VROXWLRQV�DQG�WKH�FUHDWLRQ�RI�FURVV�IXQFWLRQDO�WHDPV��7KHVH�W\SLFDOO\�EULGJH�UHVHDUFK�DQG�GHYHORSPHQW��5'��RU�SURGXFW�GHYHORSPHQW�GHSDUWPHQWV�DQG�GHPDQG�FORVHU�FR�RUGLQDWLRQ�EHWZHHQ�WKH�PDUNHWLQJ��ÀQDQFH�DQG�LQIRUPDWLRQ�WHFKQRORJ\��,7��IXQFWLRQV����

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z Metrics for valuing marketing’s new value

are not uniform: many are company- or even

SURGXFW�VSHFLÀF��7UDGLWLRQDO�PHDVXUHV�RI�FXVWRPHU�DZDUHQHVV��DWWUDFWLRQ�DQG�UHWHQWLRQ�DUH�VWLOO�FRPPRQSODFH��EXW�FRPSDQLHV�DUH�WUDFNLQJ�WKHVH�PRUH�ÁXLGO\�DFURVV�FKDQQHOV�DORQJ�WKH�FXVWRPHU�OLIHF\FOH��2WKHUV�ORRN�WR�WKH�NH\�PHWULFV�VXUURXQGLQJ�LQYHVWPHQW�LQ�PDUNHWLQJ�WHFKQRORJLHV�RU�QHZ�FDPSDLJQ�VWUDWHJLHV�WKDW�DUH�GLUHFWO\�WLHG�WR�FRVW�VDYLQJV�DQG�UHYHQXH�JHQHUDWLRQ��6RPH�DUH�KDUQHVVLQJ�WKHVH�PHWULFV�WR�UHDOLVH�IXUWKHU�HIÀFLHQFLHV�JDLQHG�YLD�VKDULQJ�FXVWRPHU�LQVLJKWV�DFURVV�WKH�HQWLUH�FRPSDQ\��

z Marketing’s remit is expanding beyond

traditional lines, interweaving internally with

other company functions and externally with a

wider variety of customer touch-points.�$V�WKH�LPSRUWDQFH�RI�QHZ�SODWIRUPV�DQG�WHFKQRORJLHV�FRQWLQXHV�WR�JURZ��VHQLRU�PDUNHWHUV�QHHG�NH\�

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z &KLHI�PDUNHWLQJ�RIÀFHUV��&02V��QHHG�WR�recognise the capabilities and limitations

of the tools available to access their clients,

deliver their message and glean customer

insights.�$OWKRXJK�VWLOO�LPSHUIHFW��WKHVH�WHFKQRORJLHV�DUH�UHVKDSLQJ�WKH�IXQFWLRQ�RI�PDUNHWLQJ�DQG�RSHQLQJ�XS�D�UDQJH�RI�QHZ�RSSRUWXQLWLHV��&02V�PXVW�HDUQ�JUHDWHU�UHOHYDQFH�LQ�WKH�ERDUGURRP�ZLWK�PRUH�FURVV�IXQFWLRQDO�XQGHUVWDQGLQJ�DQG�WKH�GHYHORSPHQW�RI�FORVHU�UHODWLRQVKLSV�ZLWK�RWKHU�PHPEHUV�RI�WKH�&�VXLWH��

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Introduction

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Freescale Semiconductor is competing

online through user experience

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Multiple new channels are changing

the customer experience in the B2B

space 1

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Henri Richard, former chief VDOHV�DQG�PDUNHWLQJ�RIÀFHU�DW�Freescale Semiconductor

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Sonus Networks are building B2B

connections through new media

channels

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Wes Durow, vice-president of global marketing at Sonus Networks

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Hitachi Data Systems

New marketing agility

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Customer insights to build customer

loyalty

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Case Study: Hitachi

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Asim Zaheer, senior vice-president of worldwide marketing at HDS

Page 9: Visions in Marketing: Finding the signal through the noise

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Customers drive product innovations at

FXI Inc

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Customer feedback and new customer

insights are driving product and

service development2

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Customer feedback improves

convenience at TD Bank

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Diane Adams, CMO at FXI Limited

Page 10: Visions in Marketing: Finding the signal through the noise

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At Bell Canada, customer insights led to

Mobile TV

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Sonus Networks redesigned to deliver

an “out-of-the-box” experience

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Dominic Mercuri, TD Bank’s CMO

Page 11: Visions in Marketing: Finding the signal through the noise

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Wes Durow, vice-president of global marketing at Sonus Networks

Page 12: Visions in Marketing: Finding the signal through the noise

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Information drives cost management

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- Thomas Bissels, head of sales and marketing for parcels and logistics at Austrian Post

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Expanding the role of marketing

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Dominic Mercuri, CMO at TD Bank

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Freescale Semiconductor is marketing

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Page 17: Visions in Marketing: Finding the signal through the noise

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Page 18: Visions in Marketing: Finding the signal through the noise

While every effort has been taken to verify the accuracy of this information, neither The Economist Intelligence Unit Ltd. nor the sponsor of this report can accept any responsibility or liability for reliance by any person on this article or any of the information, opinions or conclusions set out in this article.

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Page 19: Visions in Marketing: Finding the signal through the noise

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