Becoming A Customer-Driven Organization
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Transcript of Becoming A Customer-Driven Organization
Secrets to Top Performers’ Success in
Customer-centric Marketing Strategies
www.gostrata.com
Leveraging Data to Build Brand Affinity,
Increase Loyalty and Drive Revenue
According to the Consumers
2020 Report, customer
experience is expected to
become the number one
brand differentiator,
overtaking both price and
product by the year 2020.
Source: http://www.walkerinfo.com/customers2020
The Customer Experience Revolution
A recent IBM C-suite study
reveals that:
• 60 percent of CEOs expect
customer influence to go beyond
developing products to shaping
business strategy.
• More than 60 percent of CIOs
will focus on improving the
customer experience and getting
closer to customers.
The Customer Experience Revolution
According to Nielsen’s November 2013
customer loyalty survey, 60% of global
respondents say loyalty programs are
available where they shop, and 84% say
that they are more likely to shop at a store with
a loyalty program.
The Customer Experience Revolution
Using Customer Analytics to Drive Strategies
and Create Measurable Business Impact
According to the International Institute for Analytics
report Keeping Customers: Successful Loyalty Through
Analytics, there is a strong correlation between loyalty
program effectiveness and the use of data and analytics
to develop and measure loyalty program strategy.
The report indicates that highly effective programs are
driven from the customer’s perspective. They focus their
efforts first on the customer experience—building brand
affinity and ensuring customer satisfaction—before
expecting customer loyalty. Source: http://info.iianalytics.com/CustomerLoyalty
The New Competitive Differentiator
Is your company ready to
rally around your customer
initiatives to attract and
engage loyal buyers across
marketing, sales and service?
How Do You Leverage Your Marketing Data to
Create Measurable Business Impact?
Making Data Relevant to Your Business
When it comes to data, it’s not just about
measuring everything.
It’s about:
How data impacts your business
How it is applicable to the future
Making Data Relevant to Your Business
Your data should provide clear
answers to a few key questions:
How can we increase revenue?
How can we bring in more shoppers?
How can we turn shoppers into loyal
customers?
Making Data Relevant to Your Business
When it comes to turning data into valuable
insights, marketers must be equipped to:
Evaluate their business processes from a customer mindset
Align the appropriate data points for actionable insights
Integrate insights into activities that allow you to speak to
each customer as an individual—at every touch point
What They Do. How They Do It. Why It Works.
Jane Smith
Tim Smith
3 B2C Leaders Who Are Doing It Right
DSW Makes Big Strides
with Marketing Data
With more than 22 million members in its
loyalty program, shoe giant DSW leverages
customer-driven strategies to successfully
drive revenue and optimize its retention efforts.
DSW Loyalty Program
How it works
Customers earn points for each purchase
Points accumulate to become $10 rewards
certificates
They get 10 points per dollar on full-priced
merchandise and half of that on clearance items
At 1,500 points the customer is awarded a $10
rewards certificate
DSW Loyalty Program
They leverage program data to:
Tailor the shopping experience to existing
customer behaviors and trends
Optimize personalized offers based on a
customer’s channel/buying preferences (e.g., in-
store, catalog and online)
Drive unplanned purchases by promoting double-
points events
Increase customer response rates by 400%
Why is the DSW Loyalty
Program Successful?
It’s straightforward and earning points is easy.
But the real value exists in that 90% of DSW
purchases come from members of their rewards
program, so the company has relevant
information on practically all customers.
Why is the DSW Loyalty
Program Successful?
DSW data revealed that customers were twice
as profitable when they purchased from different
channels (e.g., in-store, catalog and online).
In response, the company implemented a cross-
channel marketing campaign strategy featuring
a mobile application where customers can shop
and manage their account online from their
mobile devices.
Nissan: Driving Customer Loyalty
Nissan One To One Rewards Program
With every service visit vehicle owners earn
valuable reward points
Customers can use their points for factory-
recommended Genuine Nissan Service and Parts – including oil change, brake service, battery service, wiper
replacement, tire service and replacement, and more.
Plus, they can use their points
toward their next vehicle purchase
Nissan: Moving from Transactional to
Emotional Loyalty
Loyalty Program Evolution
2008-2011
Built the loyalty program around two umbrella
segments [engaged vs. non-engaged]
Evolved creative strategy
Grew dealer participation
Service Retention focus
Owner sweepstakes introduced integration of social
Evolving segmentation
Nissan: Moving from Transactional to
Emotional Loyalty
Loyalty Program Evolution
2012-2013
New creative platform
Enhanced segmentation strategy
Experience map
Marketing automation platform
Gamification
Nissan: Moving from Transactional to
Emotional Loyalty
Loyalty Program Evolution
Today and Beyond
Engagement
Telematics integration
Holistic program integration
Nissan: Leveraging
Engagement-based Segmentation
Increase customer retention
and loyalty
Drive higher customer profitability
and lifetime value for the brand
Create value and relevancy for
the customer
Tailor communications to
customer needs and preferences
Nissan Loyalty: Key Success Criteria
Service Retention = Brand Loyalty
Increase customer retention and loyalty
Understand and align stakeholder needs
Create a viable financial model
Architect the platform with scale in mind
Identify and focus on key objectives
Kroger Company: Data is “In the Bag”
When it comes to driving
customer loyalty, offering
discounts and creating relevant
experiences are leading factors.
This is why U.S.-based Kroger
Company, one of the largest
grocers in the world, has one of
the highest loyalty ratings in the
industry.
Kroger Company: Data is “In the Bag”
Kroger uses its loyalty card data to create an
enhanced shopping experience and build relevant,
personal connections with each customer by: • Knowing what customers are likely to buy
• Recognizing shopper behavior over time
• Aligning customer promotions with their buying
preferences
• Understanding the store’s relevance to customers by
identifying repeat/identical sales
Kroger Company: Data is “In the Bag”
Kroger also leverages its data to continually
improve on its ability to deliver the right products
at the right price with great service and an
enhanced shopping experience.
Data provides Kroger meaningful insights that
can benefit their entire value chain while
creating significant competitive advantage.
Embracing a Data-Driven Future
Data is changing how marketers shape their customer experience journeys and brand interactions.
As you develop your marketing strategies, remember it’s not just about numerical data; it’s about the insights you derive from the data.
The future of marketing is about your ability to leverage these insights to connect with customers and deepen your relationships with them over the long term.
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www.gostrata.com
For more ideas on data-driven marketing…
© 2016 Strata Company