Marketing's New Imperative: Customer Identity Management
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1 Marketing’s New Imperative: Customer Identity Management December 10, 2014 Andrew Jones, Analyst
Transcript of Marketing's New Imperative: Customer Identity Management
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Marketing’s New Imperative: Customer Identity Management!
December 10, 2014!
Andrew Jones, Analyst!
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Today’s Marketers!
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Table of Contents!
1. Increasing Device and Channel Fragmentation!
2. The Dynamic Customer Journey!
3. Marketing is Changing: Challenges & Opportunities!
4. Customers Have more Identities than Ever, Creating Data Silos!
5. The ROI of Customer Identity Management!
6. Getting Started: Questions to Ask!
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1. Increasing Device and Channel Fragmentation!
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More channels, more data!
Select social networks, message apps, and email clients
Sources: Facebook, Google, Instagram, Line, New York Times, TechCrunch, Twitter, Wall Street Journal, WhatsApp
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More devices, more data!
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POLL 1!
How many different customer data sources are you using to derive customer insights at your organization?!
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2. The Dynamic Customer Journey!
10!The Dynamic Customer Journey!
11!The Dynamic Customer Journey!
12!The Dynamic Customer Journey!
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Marketing Sales Customer Service Innovation
The Dynamic Customer Journey!
Loyalty
14!The Dynamic Customer Journey!
Marketing Sales Customer Service Innovation Loyalty
15!The Dynamic Customer Journey!
Awareness Consideration Intent Purchase Support Loyalty Advocacy
Marketing Sales Customer Service Innovation Loyalty
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95%!Of companies say understanding the behavior and impact of the connected customer is a challenge!
Source: Altimeter Group, 2014
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Surprised?"
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3. Marketing is Changing:!New Challenges & Opportunities!
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What is Marketing?!
“Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service.”!! - Wikipedia!
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What is Marketing Today?!
“Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service.”!! - Wikipedia!
Modern Marketing is about building relationships.!
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Relationships!
Customers expect to be known and have a relationship.*!!We can’t send the same message to everyone and expect to have relationships with individuals.!
*”83% of Consumers Want to Be Recognized Across Channels and Mobile Devices” – MyBuys “76% of Businesses Expect Personalized Digital Marketing From B-to-B Brands” – Pardot
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Relationships!
Like in our personal lives, building a relationship is predicated on understanding an individual.!
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88%!Of companies say they are undergoing a digital transformation* in 2014.!!*the re-alignment of, or new investment in, technology and business models to more effectively engage digital customers at every touchpoint in the customer experience lifecycle.!Source: Altimeter Group, 2014
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Data from Interaction
Customer Identity
Relevant Content
Coordinated Distribution
Know
Engage
Customer
Modern Marketing Process:!Know and Engage the Customer!
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4. Customers Have more Identities than Ever, Creating Data Silos!
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Marketers have lots of data, but lack context!
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Big data is important today and will be more important tomorrow. Organizations need to move away from silos of data into one data store with the right capability. That means you can’t have multiple customer records.!! -Blake Cahill, Global Head of Digital at Philips!
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5. The ROI of Customer Identity Management!
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90%!Of companies are committed to delivering an integrated customer experience!
Source: Econsultancy & CACI
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20%!Have a well developed strategy!
Source: Econsultancy & CACI
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Many are investing in personalized engagement — but that’s a partial strategy!
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More Marketing Engagement Tools!
33!And whether for data or engagement, many tools are for specific channels — here are just a few for social!
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POLL 2!
How many marketing technologies does your company use that are generating customer data? !
Case Study: Interscope Records uses Social Identity to increase email open rates nearly 10x!
Connecting identities—like social and email,—can unlock new opportunities!
Interscope Records uses Social Identity to understand customer interests and send more relevant emails!
1. Match social profiles to email through social login!
Interscope Records uses Social Identity to understand customer interests and send more relevant emails!
1. Match social profiles to email through social login!
2. Capture social signals!• Facebook Likes!• Twitter Follows!• Spotify Listens!• Youtube Views!
Interscope Records uses Social Identity to understand customer interests and send more relevant emails!
1. Match social profiles to email through social login!
Social scores
Append to email database!
2. Capture social signals!• Facebook Likes!• Twitter Follows!• Spotify Listens!• Youtube Views!
Social Scores Sync’d to Exact Target!
Non-Targeted Email!Unique Open Rate:!
• “Batch & Blast”!• Content Heavy, 20+ Promoted
Items!
UMG’s Interscope Records customer email!
7%!
Targeted Twitter Followers of !• Will.i.am!• Britney Spears!• Lil Wayne!• Diddy!!!
Interscope sees lift in open rates by targeting with social scores!
Semi-targeted Email!Unique Open Rate:!
Targeted Twitter Followers of !• Will.i.am!• Britney Spears!• Lil Wayne!• Diddy!!!
Interscope sees lift in open rates by targeting with social scores!
Semi-targeted Email!Unique Open Rate:! 16%!
Targeted by:!• “The XX” Social Scores*!• Great Gatsby Social Scores !
Combining social scores for even greater relevance, open rates increase 10x!
Targeted Email!Unique Open Rate:!!
*Note: for those unfamiliar, “The XX” is a band
Targeted by:!• “The XX” Social Scores*!• Great Gatsby Social Scores !
Combining social scores for even greater relevance, open rates increase 10x!
Targeted Email!Unique Open Rate:!!
*Note: for those unfamiliar, “The XX” is a band
66.7%!
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Trust: “Can we” vs. “Should we”!
We don’t need to know everything, but wouldn’t it be nice if customer relationships felt a little more like this again?!
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6. Getting Started: Questions to Ask!
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Take the Quiz 1/2!
· Is your customer data accurate?!· What is your confidence level that the data is accurate?!
· Do you rely primarily on anonymous data for marketing?!· Independent agency accounts suggest that in third-party cookie
data gender can be wrong 30-35% of the time.!
· Do you know which segments your customers are in (vs. probabilistic)?!· “Knowing” being relative, but based on verified or self-
volunteered data, such as forms, profile management pages, or social profiles.!
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Take the Quiz 2/2!
· Do you do progressive profiling?!· Are you able to continuously update customer records when
they leave and come back or engage in different channels?!
· Are you able to act on customer data in real-time?!· Do you have a good customer view that you’re able to act on
immediately, or does it take two to three weeks to consolidate data?!
· No doubt you have a lot of customer data — but is it actionable?!· For example, are you able to use your social listening data to
put prospects into email-nurturing campaigns or personalize the website?!
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Let’s get some light in here!!
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Thank You!
Andrew [email protected]!@andrewjns!altimetergroup.com/blog!
Disclaimer: Although the information and data used in this report have been produced and processed from sources believed to be reliable, no warranty expressed or implied is made regarding the completeness, accuracy, adequacy or use of the information. The authors and contributors of the information and data shall have no liability for errors or omissions contained herein or for interpretations thereof. Reference herein to any specific product or vendor by trade name, trademark or otherwise does not constitute or imply its endorsement, recommendation or favoring by the authors or contributors and shall not be used for advertising or product endorsement purposes. The opinions expressed herein are subject to change without notice.!!
Altimeter Group provides research and advisory for companies challenged by business disruptions, enabling them to pursue new opportunities and business models. !
