Customer-centric companies boost profits by 60% — and programmatic CRM has a big role (VB Live) – Business Intelligence Info

WithprogrammaticCRM,marketersarenowabletodeliveronthepromiseoftherightmessageattherighttimetotherightcustomer—meaningashiftintorealcustomer-centricmarketingthatcanmorethandoubleprofits?

AccessthisfreeVBLiveeventondemandrighthere。

Itisbyanorderofseveralmagnitudesmoreexpensetoacquireanewcustomerthanitistosimplyretainthem。

Butthat’swheretoomanymarketersarefocused,saysShannonJohlic,directorofmarketingatBlueshift。

Yougetthemthroughthedoor,havethemmakethatpurchase,orsignonthatdottedline—andthenit’sbacktotheracestochasemorecustomersthroughyourfrontdoor。

“We’reforgettingthatnextpartofthecustomerjourney,”Johlicsays。

“Youhavethem。

Whatareyoudoingtokeepthem?

Whatareyoudoingtorespectthemandgivethemvalueforthisloyaltyandinformationand?

thehard-earneddollarsthey’vegivenyou?



Theperpetuallyconnectedcustomerisjumpingbetweendevicesandondozensofchannels,makingpurchasesnotafterweeksofdecision-making,butdays,sometimeshours,andnotjustexpectinghyperpersonalization,butdemandingit。

Andyetthecurrentmarketerisstillfocusedontalkingatanaudience,insteadoftothem;sendingoutmassmessagesthatareessentiallyyellingattheircustomers,ratherthanopeningupadialog。

Marketersneedtoshiftfromachannel-centricmindsettoacustomer-centricview,puttingthecustomerfirst—notaproductoraprocess—tobuildarelationship。

Infact,DeloitteTouchefoundthatcompaniesthatarecustomer-centricare60percentmoreprofitable。

“Fundamentallyitmeanstreatingcustomerswiththerespecttheydeserve,”saysBrianMonahan,co-founderofNewCo,amediacompanyaboutbusinesstransformation,andformerCMOatWalmart。

“Forus,itcomesdowntofiguringoutwhoisinwhatindustryandwhattypeofjobandwhatlocation,andthenreflectingwhatweknowaboutthemtodeterimewhatwe?

presenttothem。



AtWalmart,thatmeanthelping?

peoplesavemoneyontheireverydayneedsinlife?

byunderstandingwhothatcustomerwas,andwhatshewaslookingforatthatmoment。

“Frankly,inusingdatatopersonalize,wewouldgetfarmorecustomercomplaintsabout‘Whyyoudon’tknowmebetter?

Youguysshouldknowthisaboutme,’asopposedto‘Howdidyouknowthat?

Whyareyoutrackingme?

’”headds。

JeffPash,directorofCRMatTheMuse,anin-depthonlinecareerresource,notesthattheircompanyisfoundedontheideaofdevelopingempathyfortheircustomeronaone-to-onebasis。

“Thebiggestcomplaintwehearfrompeopleouttherejobsearchingisthattheyjustfeellikethey’realone,”Pashsays。

“Everythingwedo,wetrytodoitwithempathyfortheuser。

Sowhatwe’vestartedtodoisjusttrytoidentifyhowwecanfigureoutwherepeopleareintheircareerandthenservethemtherightinformation,whetherit’sajobpostingoranarticleorwhateveritmaybe。



Themoretheirconsumerscanfeellikethey’renotaloneandthattheirsisacommonstruggle,headds,thebetterthey’llfeelaboutthejobsearchandhopefullythefasterthey’llgetajob—orachieveanyofthecareergoalsthey’restrivingfor。

“Fundamentallyit’saboutrespectingthatindividualwho’sstrugglingwithsomethingorwhowantstolearnsomethingorwantstoimprove,”saysPash。

“Andifwedoeverythingwiththatrespect,thoseretentionrateswilljustkeepgoingup。



ProgrammaticCRMcomesinbyofferinganewwaytounifyandprocessandthenexecutingonthemostimportantdatayouhave—gatheringfirst-partydatabybeinginthemomentwiththecustomeracrossallthechannelstheytravel。

“ProgrammaticCRMunifiesasystemofrecord,asystemofintelligence,andasystemofaction,”Johlicexplains。

“ProgrammaticCRMistheheartofallthat—notjustanalysis,it’snotjustdatagathering,it’snotjusthere’ssomeactionableinsights,it’screatingtheabilitytoactionizeonthoseinsights—toactuallypushoutandcommunicatewiththesepeopleatthatlevel,toremaincustomer-centric。



“It’snotforgettingthecoreofwhatwedo;it’sbuildingworkflowsandmessagingandcallstoactionasmarketers,”headds。

StuartRogers,directorofmarketingtechnology,warnsagainstforgettingsomeofthefundamentalsofcustomerconnectionwhenyoudiveintoadata-drawnportraitofyourusers。

“Marketingtechnologyishelpingtoincreasecustomercentricitywithouthavingtogodownthehyperpersonalizationrouteandsegmentsofone,”heexplains。

“It’stransparencyandtwo-wayconversationswithcustomerstocreateacustomer-centricculture。



Hecitesanonlinebespokeclothesretailerthatensuredeachcustomerwasupdatedoneveryaspectoftheirdelivery,frommanufacturingtodelivery。

“That’sanexampleoftransparencyatscale,inordertomaketheindividualfeellikethey’rebeinglovedandlookedafter,”Rogerssays。

“Andit’sthatsortofsurpriseanddelightthatcomesfromenablingtransparencyacrossthebusiness。



Forinsightintowhere,when,andhowtostartleveragingprogrammaticCRMtodramaticallyboostcustomersatisfaction,don’tmissthisVBLiveevent。

Don’tmissout!

AccessthisVBLiveeventondemandrighthere。

InthisVBLiveevent,you’ll:

Targetprecisemessagesandoptimizeuserretentionacrossallofyourmarketingchannels

Learnhowyourfirst-partydata,includinguserbehavior,transactions,andyourcatalogofcontent/productsdrivesscalableindividualizeduserexperiences

Preventoreliminatethepotentialoffraud

Speakers:

BrianMonahan,co-founder,NewCo,formerCMO,Walmart

JeffPash,DirectorofCRM,TheMuse

ShannonJohlic,DirectorofMarketing,Blueshift

Moderator:

WendySchuchart,Moderator,VentureBeat

ThisVBLiveeventissponsoredbyBlueshift。

Letsblockads!

(Why?

)

BigData–VentureBeat


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