The vision of advertising driven by savvy “experts” and their big ideas appears as a romantic memory. Increased consumer expectations, forged in yesterday’s mass media world, eclipse the capacity to artfully deliver results. The digitally connected world we find ourselves in brings new media, communications channels, and technology . . . to embrace, not to fear.
Join this engaging conversation to examine how trends in consumer expectations are increasingly matched to trends in media and technology innovation. Culminating in a case study presented by Nick Primola, SVP Citizens Bank, we examine how mathematics and technology are leveraged to define situational success as customers experience the brand, rather than situation comedy.
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Mad Men or Math Men - @timsuther presentation, #cxp11
1. MAD MEN OR MATH MEN
redefining CUSTOMER EXPERIENCE IN a connected world
Tim Suther
Chief Marketing Officer, ACXIOM
FORRESTER CUSTOMER EXPERIENCE FORUM JUNE 2011
®
2. CONSUMERS ARE BOSS
Choosing when, where, how and if they engage with your brand
687M 500B
Facebook users 1 C2C conversations/yr 2
253M 45B
Twitter unique visitors 3 Indexed Web pages 4
5.3B 14B
Mobile handsets/tablets 5 Mobile apps downloaded 6
Sources – 1 Mary Meeker, KPBC, Feb 2011 – 2 Forrester 2010 – 3 Mary Meeker, KPBC, Feb 2011 – 4 worldwidewebsize.com
– 5 mobiThinking, June 2011 – 6 mobiThinking, June 2011 2
3. THE END IS NEAR
NEAR…
For mad men
$112 billion
advertising wasted
Sources – What Sticks
3
4. THE END IS NEAR
NEAR…
For mad men
-21% NPS
21%
4
5. THE END IS NEAR
NEAR…
For mad men
27% feel more valued
44% had negative experience
Sources – Wakefield Research / ACI Worldwide
5
6. THE END IS NEAR
NEAR…
For mad men
Most commonly associated
word with advertising
advertising….
FALSE
Sources – Nielsen
6
10. THE RISE OF MATH MEN
What capabilities are needed?
15-30% improvement opportunity f most companies
% for
10
11. THE RISE OF MATH MEN
Sample results
3.5x
3 5x improved acquisition performance
2x website conversion
$4 5
4.5 million/yr
illi / call center savings
10% revenue increase
12. THE RISE OF MATH MEN
Takeaways for a connected world
Your insight…EVERYWHERE.
BEWARE false signals.
signals
“PIL” EXPERIENCES personalized
personalized,
integrated & longitudinal.
4 INTERRELATED CAPABILITIES
drive high performance
performance.
12
13. THE RISE OF MATH MEN
The right customer experience strategy
Nick Primola
Senior Vice President,
Director of Direct Marketing at
Citizens Financial Group
13
14. About Citizens Financial Group
• Operate as Citizens Bank and Charter One Bank
• Owned by Royal Bank of Scotland Group
• 1,480 branches
• 30 acquisitions in 20 years
• 23,000 employees
• 12 state retail footprint
14
32. Our Value Proposition is Customer-Centric
Marketing must deliver on this promise.
g p
Transparent and
relevant dialog
I trust the
Bank
Insight-driven
personalized The Bank The The Bank puts Engage in channel of
communications knows me Customer me in control their choice
The Bank
values me
Demonstrates knowledge
of the relationship in every contact
f th l ti hi i t t
32
35. Basic Value Segmentation
Migrate to
“Primary” Top Growth
Relationships Opportunity
tential Value
Pot e
Contact Focus on
Opportunistically Retention
CurrentValue
35
36. Attitudinal View (Segmentation)
Need for help from others
Uncertain Segment 4 Segment 5 Accomplished
XYZ’s XYZ
Segment need
Anxious
segment My segment Segment
Segment need need
Yesterday Tomorrow
Segment Hopeful Next
need segment segment Ambitious
Experts
Segment need
Segment 12
Cautious
Segment
g Conservative
Segment need
S t d
Don’t
D ’t want h l
t help
36
42. Our view of the customer continues to become more clear
Data repositories in silos “Technically” a complete Data-alignment across
view of the customer. delivery points
All data points are there, A whole view but not very A clear view that is actionable
but not the connections. clear, may be inaccurate.
42
Images from ASU’s “Ask a Biologist” website: Insect vision
43. Stakeholder alignment is key
Even when all stakeholders
are aligned toward one goal
it s
it’s still an incredibly
complicated effort.
Remember each
piece is uniquely
aligned to another
43
45. In Summary
Get to know what’s inside your black box: Where
can you listen for a need and respond with a
solution?
l ti ?
Demonstrate “Know Me”: Use your data to make
y
each interaction relevant.
Leverage your brand: Align data, systems and
technology with your brand’s values
45