Digital and Marketing Strategy

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Personalization is key to relevance

Personalization of customer experiences

Personalization Marketing Forrester Example

With recent changes to the web and mobile experience and the shift in media consumption patterns of our customers, it has become increasingly easy for marketers to obtain data that tells them who gets what content, where they get it and what they do with it. Marketers will be expected to tailor their messaging and experiences to better match what their customers expect – relevance. In 2016, you can expect more personalization of brand experiences.  

Personalization statistics infocom systems

Personalization is the ultimate form of targeted marketing, creating messages for individual consumers – it delivers to a market of one. With the customer data we’re able to collect from multiple points of interaction with our brand – online and offline, we’re able to develop more concise buyer personas that paint a clearer picture of who our customers are, where they go, what they do and what their needs are. Marketers can now develop experiences that are specifically tailored to these customers, like custom landing pages, or features on a website that are in line with what users want to access.

Personalized services have always been an element of small businesses and local stores, where people know their customers by name; now database technologies are equipping larger businesses to personalize as well. The ability to personalize depends on the information available on the customer; therefore, personalized marketing is most effective with consumers who are most comfortable with sharing information.

Fortunately, more people are willing to exchange a degree of privacy for a personalized experience. Compared to the total population, younger people—who have grown up with technology—are more comfortable with sharing information than older customers.

Trend Tip:

  1. Apart from making personalized recommendations, web pages should be designed to display other content based on customer history. You should consider building your landing pages on the same premise; when a customer arrives at the website, the referral source, geographic location, and purchase history can all influence what is presented on the page.
  2. Personalization statistics Janrain Harris interactiveGreeting your customer by first name is more engaging than an impersonal “Dear customer.” Lead data can be integrated into the emails so that specific products or offers are highlighted accordingly. For example, if your mailing list is generated from your customer/lead database, then information on prior purchases or lead activity can be used to suggest future actions.
  3. You should adopt the same personalization approach when responding to customers on social media, answering their questions and engaging them. A personal interaction here (as opposed to automated responses) goes a long way.

RESOURCES:

  1. Case Studies – 5 Incredible Examples of Personalization
  2. Why Marketers Must Think Personalization
  3. 10 Personalization Tips
  4. Personalization Strategies to Attract and Retain Customers

 

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Customer Experience is Customer Service

Customer Service meets Customer Experience

Customers will continue to show their disapproval with inconsistent and unfulfilling brand experiences. In an attempt to raise the bar, Caribbean brands will and must, change their customer approach and start thinking about how to deliver greater value. This will include improving customer service models, investing in customer service solutions that afford better monitoring and management and improving online engagement.

What does Customer Experience mean?

Customer Experience encompasses every opportunity your customer has had to interact with your brand. To fully understand what the term customer experience means, think about it as the sum total of individual customer service moments a consumer has with the folks who represent your brand. This interaction may have initiated with marketing during the early stages of the buyer’s journey, but would certainly have pulled sales, customer service and maintenance and support into the engagement loop.

Why brands need to improve their customer experience

happy customers

In today’s world, brands easily suffer from curtailed customer lifecycles, with leads falling out of the sales funnel after encountering either poor customer service or when faced with inconsistent brand experiences along the way. A 2013 study by J.D Power and Associates recognised that consumer expectations for social interactions vary across industries, however, quality content and responsive service representatives were keys to unlocking higher satisfaction levels. Just as brands have begun engaging in social marketing practices, they must close the customer satisfaction loop by providing social servicing[1]

If you’re not sold on the need to deliver quality experiences that ensure positive brand sentiment and lead to overall brand loyalty, then let’s consider the impact on your business’s bottom line. For those of you who are keen on measuring the ROI of a company’s expenditure on the machinery needed to deliver a blue ribbon brand experience, consider the performance of these companies –

Walt Disney Customer Experience, Customer service

  • Amazon Q4 14, net sales increased by 15% over Q4 13
  • Apple 39.9% profit per product –  (3 months to end Dec 14)
  • Disney Earnings per share up 27% in year to Dec 2014
  • Zappos Annual revenue in excess of 2 billion
  • Starbucks Revenue rose 13% in Q1 FY15
  • BMW 7% increase in vehicle sales – Jan 15 vs Jan 14

Apart from their obvious successes, these companies have 2 things in common – they deliver exceptional customer experiences and they have loyal, happy customers. It’s no coincidence that they’ve been able to obtain this level of success while consistently delighting their customers at every interaction with their brand. Like Tony Hsieh and the folks at Zappos, each of these brands is focused on putting the customer first and supporting this drive with a strong internal company culture. None of these are out of your reach, here’s how you can get there too.

Building a Great Customer Experience Strategy

It’s not too late for brands that are not currently wowing customers with a great experience to make a turn-around. The best place to start is by developing a customer experience strategy, much like the one we’ve found on The Client Heartbeat – 5 customer experience strategies that work.

 1. Define the customer experience and keep it consistent across all touch points

The best companies recognize that customers interact with different parts of the organization and across multiple touch points. They know customers engage with different employees when they make a purchase, when they’re getting service and support, and when they’re talking to billing or accounts.

2. Base the experience on individual customer needs

Customer experience strategy must start with knowing what your customer needs and wants, which will equate to their expectations. Once you know that, you can work backwards to create an experience that exceeds those customer expectations.

3. Leverage technology to enhance the customer experience, not create it

It is recommended that you define a customer experience, and then identify what tools and software you need to assist in making it happen. Do not mold your customer experience strategy around technology. Find technology that you can use within your strategy.

Here are some tools you should look into:

  • CRM tools for relationship management: keep all data and communications between your company and employee in one spot so everyone can see it quickly.
  • Marketing tools to engage with customers:  send trigger emails based on specific actions.
  • Online survey tools and customer satisfaction tools: survey customers, get feedback and measure satisfaction.
  • Web analytics and tracking tools: Measure engagement, number of site visits and page visits. Build out customer profiles full of data to help manage the experiences.

It’s all about integration

To effectively address the needs of our consumer base, brands must evolve their customer strategies into a three-pronged approach that can treat with marketing, sales and service engagements. Brands can no longer ignore the growing social customer demographic. For companies that are interested in fostering positive customer experiences across this audience, they must treat with digital strategy holistically.

Brand Tip

Change your perspective around customer experience. Consider delivering exceptional customer experiences as an economic asset rather than additional company expense. “70% of companies say it’s cheaper to retain a customer than acquire one and 49% say that, pound for pound, they achieve better ROI by investing in relationship marketing over acquisition marketing.”

 

[1] Social Servicing – Social servicing engagements include answering specific consumer questions or resolving problems via social channels.

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How digital solutions can unlock business value

Digital solutions are here to stay.

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It’s not the 90s and the internet is not the new kid on the block. We’ve far progressed from the age of digital astonishment since mankind delivered GPS devices, smartphones, and digital music into our lives. Let’s face it, the question around adopting digital solutions for our business lies not in the innate fear of trying something new, but in the fear of successful implementation. 

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The Sales and Marketing Metrics You Need in 2016

Sales and Marketing Metrics Matter

It’s often a pretty daunting task trying to scour the internet trying to find the right answers to our questions, the best templates, the most reliable sources and relevant data. It helps when you’ve got a great resource that can compile these for you, toss in some great graphics and categorise your much-needed resources into handy, easy to reference sections! That’s exactly what we’ve done for you – check out our curated list of the best tips, tools and templates to get you to your sales and marketing goals.

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How to Win at Sales and Marketing in 2016

 Dim forecast for Caribbean Markets in 2016

Let’s face it, the outlook for the Caribbean in 2016 is dim, with minimal growth for Caribbean businesses expected. Both businesses and customers will be managing their budgets and attempting to get maximum value out of every dollar spent. Not every business survives a recession and few can boast of success. Business, sales and marketing leaders must be smarter about their decision making if they aim to survive and succeed in 2016.

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2016 digital sales and marketing trends for Caribbean businesses

2015 Marketing and Sales Challenges

The New Year (2016) is upon us and like every efficient business leader, marketer and sales manager diligently putting plans in place to meet revised sales and marketing targets, you’re probably scouring the internet for solutions to your 2015 business challenges. Now here’s the problem – you’ve got to sift through the dozens of trends that have been cropping up and identify the ones that take into account our specific market conditions. It’s almost like accepting a prescription for treatment of a medical condition when your symptoms and medical history have not been factored in. You wouldn’t put your health at risk, so why put the future of your business at risk?

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Caribbean Financial Services marketers can get much more from digital Part 1

Caribbean Financial Services sales and marketing leaders are literally leaving bags of money on the table, by not embracing modern, digital-era sales and marketing tactics, and instead using the tired, approaches of old. In this series of posts we explore some of the reasons that this industry in particular should be extracting tons more value from the digital channels, and how industry leaders can reap the immense benefits available to them.  In part 1 here, we explore why the industry is such a good fit for digital-era sales and marketing tactics.

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Value based sales and marketing can improve your profitability

Why Caribbean businesses need value-based sales and marketing strategies

As business leaders with the pressures of growing revenue, we’re all very focused on getting our message out, and ensuring that people understand who we are and why what we do is great and exactly what they need. Unfortunately, that’s a very inside-out view of the world, whereas our customers want us to be outside-in and deliver value to them first.

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