Understand Your Customers of be Left Behind
-
Upload
sameer-khan -
Category
Marketing
-
view
140 -
download
1
description
Transcript of Understand Your Customers of be Left Behind
Understand Your
Customers or be Left Behind
@IBMExpOne | #smartercommerce
Best practices to influence your customers buying
cycles using analytics.
Sameer Khan Senior Product Marketing Manager
IBM Customer Analytics
@sameerkhan
Blog: Smartercommerblog.com
Blog: Keywebmetrics.com
3
Availability. References in this presentation to IBM products, programs, or services do not imply that they will be available in all countries in which IBM operates.
The workshops, sessions and materials have been prepared by IBM or the session speakers and reflect their own views. They are provided for informational purposes only, and are neither intended to, nor shall have the effect of being, legal or other guidance or advice to any participant. While efforts were made to verify the completeness and accuracy of the information contained in this presentation, it is provided AS-IS without warranty of any kind, express or implied. IBM shall not be responsible for any damages arising out of the use of, or otherwise related to, this presentation or any other materials. Nothing contained in this presentation is intended to, nor shall have the effect of, creating any warranties or representations from IBM or its suppliers or licensors, or altering the terms and conditions of the applicable license agreement governing the use of IBM software.
All customer examples described are presented as illustrations of how those customers have used IBM products and the results they may have achieved. Actual environmental costs and performance characteristics may vary by customer. Nothing contained in these materials is intended to, nor shall have the effect of, stating or implying that any activities undertaken by you will result in any specific sales, revenue growth or other results.
Acknowledgements & Disclaimers:
UNDERSTAND:
@IBMExpOne | #smartercommerce
To know the meaning of (something, such
as the words that someone is saying or
a language)
To know how (something) works or happens
To know how (someone) thinks, feels,
or behaves
UNDERSTAND:
@IBMExpOne | #smartercommerce
To know the meaning of (something, such
as the words that someone is saying or
a language)
To know how (something) works or happens
To know how (someone) thinks, feels,
or behaves
@IBMExpOne | #smartercommerce
To know how (someone) thinks, feels,
or behaves
Your
customer
Digital
activity
Purchase
decisions
:/ ;p Feedback
@IBMExpOne | #smartercommerce Source: https://flic.kr/p/anHyXn
What channels
your customers
interact with?
@IBMExpOne | #smartercommerce Source: https://flic.kr/p/anHyXn
@IBMExpOne | #smartercommerce Source: https://flic.kr/p/anHyXn
How do you
customers access
your digital
properties?
this?
this?
OR all of
these
devices?? this?
@IBMExpOne | #smartercommerce Source: https://flic.kr/p/anHyXn
Who are your
customers?
Mark – The
Innovator : Risk
taker & affluent
buyer
Pete – The Early
adopter- quick
decision maker
who needs less
info about products
Jack – The Early
Majority – needs
social references
from friends and
family
Mary – Late
Majority – does
tons of research
on and off site
@IBMExpOne | #smartercommerce
There is not “one
view” to who your
customers are and
how they are
going to behave
@IBMExpOne | #smartercommerce
This makes it
difficult to
measure your
customer’s true
digital journey
@IBMExpOne | #smartercommerce
Let’s look at the
problem with a
different angle…
@IBMExpOne | #smartercommerce
.
We are experts
at Nano
Analytics
@IBMExpOne | #smartercommerce
.
But we forget the
macro measurements
@IBMExpOne | #smartercommerce Source: https://flic.kr/p/anHyXn
We also tend to
find insights that
don't exist
If you torture the data long enough, it will confess – Ronald Harry Coase
@IBMExpOne | #smartercommerce https://flic.kr/p/5cMBti
Marketing Analytics UX
Then… Organizational Silos
Social Sales Product IT BI
@IBMExpOne | #smartercommerce
Actions Taken After Having a ‘Poor’ or ‘Very Poor’
Experience Using a Web Site or Mobile App on
their Smartphone
50%
29%
8%
8%
7%
36%
1%
Left the web site or app
Decided to use another web site or app that offeredsimilar products/services/content
Contacted the company directly (e.g. using contactform, email, chat or telephone)
Shared my experience on social media (e.g. Facebook,blog, Twitter, review sites, etc.)
Posted a comment on the company's website
None of the above
Don't use a Smartphone
Q6. Which of the following actions have you taken after having a “poor” or “very poor” experience using a
web site or mobile app on your Smartphone? (Select all that apply) Base: Smartphone Users r (n=1,114)
@IBMExpOne | #smartercommerce
And yet…our customers are becoming increasingly
digital savvy
* Econsultancy - 2013
92% of consumers research online and seek opinions via earned
media before a purchase
They are always connected…. have easy access to information…
high expectations…
70% of consumers have stopped doing business with a brand following a poor customer
experience
and are fickle.
5 minutes the response time users
expect from a company once they have contacted it via
social media
84% of smartphone users check an app as soon as they wake up
Lots of Data, Not Enough Answers The Departmental Analytic Approaches of the Past are Insufficient
Only 26% of
companies have a well-
developed strategy in
place for improving
customer experience.*
58% of companies
have limited or no
understanding of which
usability issues affect
conversion*
91% of companies
have limited or no
understanding of why
people leave their site
without converting*
* Econsultancy - 2013
@IBMExpOne | #smartercommerce
What should
we do?
1. Customer at the front and
center of analysis
The discipline of marketing is changing
TIMELESS
Marketers have always
been responsible for knowing
the customer.
Marketers have always been
responsible for defining what to
market, and how to market.
Marketers have always
protected the brand promise.
2012
Understanding each customer
as an individual.
Creating a system of engagement
that maximizes value creation
at every touch.
Designing your culture and brand
so they are authentically one.
2014
Know each customer in context.
Innovate and scale personally
relevant and rewarding experiences.
Co-create with customers,
employees and partners.
@IBMExpOne | #smartercommerce
Empowers marketing,
merchandising, commerce and
service leaders to engage customers
in context at scale
Provides solutions by business
outcomes based on proven patterns
of outperformers
Ignites innovation with expertise
from IBM and our extensive
ecosystem of partners
@IBMExpOne | #smartercommerce
Understanding your customers holistically requires
putting the customer ahead of the analysis
Future Buying Insight
‒ Predicts outcomes and behavior
using all data
‒ Integrates predictive intelligence at
the point of impact to drive optimized
interactions
‒ Reduces churn, improves CLTV
Anticipating Customer Actions
Social Media Insights
‒ Prevailing sentiments
‒ Affinities and correlations
‒ Share of voice
‒ Relevant relationships
‒ Potential risks
Mapping Attitudes & Opinions
Quantitative Insight
‒ Web site and mobile traffic data
‒ Customers in purchase funnel
‒ Completed transactions
‒ Conversion metrics
Measuring Results Understanding Behavior
Qualitative Insight
‒ Surface customer struggle on digital
channels
‒ Session replays to understand actual
customer journey
‒ Identify impacted customers
@IBMExpOne | #smartercommerce
@IBMExpOne | #smartercommerce
What should
we do?
1. Customer at the front and
center of analysis
2. Integrate tools
Web Analytics & Customer Experience Analytics
complement each other
Quantitative insight by
capturing website and mobile
interaction data showing:
• Purchase funnels
• Real-time sales data
• Traffic flow through site
• Conversion benchmarks
Capture, replay and analyze
individual web and mobile
interactions:
• In-page context (including
dynamic, personalized
experiences)
• Error messages displayed
• Identify affected visitors
Digital Analytics
WHAT IS HAPPENING?
Behavioral Analytics
WHY IT IS HAPPENING?
360 CUSTOMER EXPERIENCE ANALYTICS SOLUTION
Improve customer experience Increase lifetime value Reduce operational cost
Increase loyalty and profitability
@IBMExpOne | #smartercommerce
Understanding Your Customer is a key component
to IBM’s ExperienceOne portfolio
@IBMExpOne | #smartercommerce
@IBMExpOne | #smartercommerce
What should
we do?
1. Customer at the front and
center of analysis
2. Integrate tools
3. Cross-functional SMEs
@IBMExpOne | #smartercommerce
Cross-Functional SMEs
Skills
Business
Analytics +
UX
UX + Web
Analytics
Designer +
Analytics
Developer +
Analytics Social Media +
Analytics
Web
Analytics +
UX
Qualitative
Quantitative
Hard Things
Possible
Complex Things
Easier
Simple Things
Quickly
@IBMExpOne | #smartercommerce
The industry’s most comprehensive portfolio
@IBMExpOne | #smartercommerce
Customer Case
Study
@IBMExpOne | #smartercommerce
Wehkamp.nl
98% brand awareness
72% female buyers
51% new customers < 35 years
>129 M visits
17.2M products sold
7.1 <M packages delivered
590M sales - RFS Holding
>180.000 different articles
150.000 reviews
@IBMExpOne | #smartercommerce
Wehkamp.nl
1. Improve Customer Experience
2. Recover Lost Revenue
3. Solve Technical Problems
4. Reduce Fraud
Search for all
customers that
struggled from the
home page
IBM Digital Analytics
IBM Tealeaf
2
Identify impact on
conversion rates
or discover trends
& anomalies
Enables rich new ad-hoc analysis: segment by
any attribute of the experience without tags Drill down to understand why
Why are there low
conversions from
the home page?
IBM Digital Analytics 1
View Individual Customer
Experiences to understand why
IBM Tealeaf 2
IBM Digital Analytics – Tealeaf Integration:
1
@IBMExpOne | #smartercommerce
@IBMExpOne | #smartercommerce
Wehkamp.nl
1. Improve Customer Experience
10% improvement in conversion for specific segment
2. Recover Lost Revenue
40K in recovered sales
3. Solve Technical Problems
Technical fix saved millions in cart revenue
4. Reduce Fraud
Twice as much fraud detected and prevented
Questions?
@IBMExpOne | #smartercommerce
Next Steps & Resources Resources:
IBM ExperienceOne:
http://ibm.com/experienceone
IBM Customer Analytics (CA):
http://ibm.com/customer-analytics/
IBM Tealeaf (TL) product details:
https://ibm.biz/CEM-Tealaef
IBM Digital Analytics (DA) product details:
https://ibm.com/digitalmarketing
IBM Social Media Analytics (SMA) product details:
https://ibm.biz/socialanalytics
IBM Predictive Customer Intelligence (PCI) product details:
https://ibm.biz/predictiveintelligence
@IBMExpOne | #smartercommerce
@IBMExpOne | #smartercommerce
© IBM Corporation 2014. All Rights Reserved.
IBM, the IBM logo, ibm.com are trademarks or registered trademarks of
International Business Machines Corp., registered in many jurisdictions worldwide.
Other product and service names might be trademarks of IBM or other companies.
A current list of IBM trademarks is available on the Web at “Copyright and
trademark information” at www.ibm.com/legal/copytrade.shtml.
Copyright and Trademarks
@IBMExpOne | #smartercommerce