Becoming a Customer-Driven Organization

 Marketing

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*** Leveraging Data to Build Brand Affinity, Increase Loyalty and Drive Revenue *** * Get Secrets to Top Performers’ Success in Customer-centric Marketing Strategies * In this SlideShare presentation, you’ll learn how business leaders in a variety of different industries are leveraging their own data to become a more customer-driven organization. Learn how they are: - Using customer analytics to drive marketing strategies - Improving transactional and emotional loyalty with customized offers - Increasing revenue via a more targeted marketing approach - Staying top of mind with customers and prospects alike Is your company ready to take full advantage of customer data to attract and engage loyal buyers across marketing, sales and service? Take some tips from top performers and model your own data driven marketing efforts to theirs for your own success.
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  • 1. Secrets to Top Performers’ Success in Customer-centric Marketing Strategies www.gostrata.com Leveraging Data to Build Brand Affinity, Increase Loyalty and Drive Revenue
  • 2. According to the Consumers 2020 Report, customer experience is expected to become the number one brand differentiator, overtaking both price and product by the year 2020. Source: http://www.walkerinfo.com/customers2020 The Customer Experience Revolution
  • 3. A recent IBM C-suite study reveals that: • 60 percent of CEOs expect customer influence to go beyond developing products to shaping business strategy. • More than 60 percent of CIOs will focus on improving the customer experience and getting closer to customers. The Customer Experience Revolution
  • 4. According to Nielsen’s November 2013 customer loyalty survey, 60% of global respondents say loyalty programs are available where they shop, and 84% say that they are more likely to shop at a store with a loyalty program. The Customer Experience Revolution
  • 5. Using Customer Analytics to Drive Strategies and Create Measurable Business Impact According to the International Institute for Analytics report Keeping Customers: Successful Loyalty Through Analytics, there is a strong correlation between loyalty program effectiveness and the use of data and analytics to develop and measure loyalty program strategy. The report indicates that highly effective programs are driven from the customer’s perspective. They focus their efforts first on the customer experience—building brand affinity and ensuring customer satisfaction—before expecting customer loyalty. Source: http://info.iianalytics.com/CustomerLoyalty
  • 6. The New Competitive Differentiator Is your company ready to rally around your customer initiatives to attract and engage loyal buyers across marketing, sales and service?
  • 7. How Do You Leverage Your Marketing Data to Create Measurable Business Impact?
  • 8. Making Data Relevant to Your Business When it comes to data, it’s not just about measuring everything. It’s about: How data impacts your business How it is applicable to the future
  • 9. Making Data Relevant to Your Business Your data should provide clear answers to a few key questions: How can we increase revenue? How can we bring in more shoppers? How can we turn shoppers into loyal customers?
  • 10. Making Data Relevant to Your Business When it comes to turning data into valuable insights, marketers must be equipped to: Evaluate their business processes from a customer mindset Align the appropriate data points for actionable insights Integrate insights into activities that allow you to speak to each customer as an individual—at every touch point
  • 11. What They Do. How They Do It. Why It Works. Jane Smith Tim Smith 3 B2C Leaders Who Are Doing It Right
  • 12. DSW Makes Big Strides with Marketing Data With more than 22 million members in its loyalty program, shoe giant DSW leverages customer-driven strategies to successfully drive revenue and optimize its retention efforts.
  • 13. DSW Loyalty Program How it works Customers earn points for each purchase Points accumulate to become $10 rewards certificates They get 10 points per dollar on full-priced merchandise and half of that on clearance items At 1,500 points the customer is awarded a $10 rewards certificate
  • 14. DSW Loyalty Program They leverage program data to: Tailor the shopping experience to existing customer behaviors and trends Optimize personalized offers based on a customer’s channel/buying preferences (e.g., in- store, catalog and online) Drive unplanned purchases by promoting double- points events Increase customer response rates by 400%
  • 15. Why is the DSW Loyalty Program Successful? It’s straightforward and earning points is easy. But the real value exists in that 90% of DSW purchases come from members of their rewards program, so the company has relevant information on practically all customers.
  • 16. Why is the DSW Loyalty Program Successful? DSW data revealed that customers were twice as profitable when they purchased from different channels (e.g., in-store, catalog and online). In response, the company implemented a cross- channel marketing campaign strategy featuring a mobile application where customers can shop and manage their account online from their mobile devices.
  • 17. Nissan: Driving Customer Loyalty Nissan One To One Rewards Program With every service visit vehicle owners earn valuable reward points Customers can use their points for factory- recommended Genuine Nissan Service and Parts – including oil change, brake service, battery service, wiper replacement, tire service and replacement, and more. Plus, they can use their points toward their next vehicle purchase
  • 18. Nissan: Moving from Transactional to Emotional Loyalty Loyalty Program Evolution 2008-2011 Built the loyalty program around two umbrella segments [engaged vs. non-engaged] Evolved creative strategy Grew dealer participation Service Retention focus Owner sweepstakes introduced integration of social Evolving segmentation
  • 19. Nissan: Moving from Transactional to Emotional Loyalty Loyalty Program Evolution 2012-2013 New creative platform Enhanced segmentation strategy Experience map Marketing automation platform Gamification
  • 20. Nissan: Moving from Transactional to Emotional Loyalty Loyalty Program Evolution Today and Beyond Engagement Telematics integration Holistic program integration
  • 21. Nissan: Leveraging Engagement-based Segmentation Increase customer retention and loyalty Drive higher customer profitability and lifetime value for the brand Create value and relevancy for the customer Tailor communications to customer needs and preferences
  • 22. Nissan Loyalty: Key Success Criteria Service Retention = Brand Loyalty Increase customer retention and loyalty Understand and align stakeholder needs Create a viable financial model Architect the platform with scale in mind Identify and focus on key objectives
  • 23. Kroger Company: Data is “In the Bag” When it comes to driving customer loyalty, offering discounts and creating relevant experiences are leading factors. This is why U.S.-based Kroger Company, one of the largest grocers in the world, has one of the highest loyalty ratings in the industry.
  • 24. Kroger Company: Data is “In the Bag” Kroger uses its loyalty card data to create an enhanced shopping experience and build relevant, personal connections with each customer by: • Knowing what customers are likely to buy • Recognizing shopper behavior over time • Aligning customer promotions with their buying preferences • Understanding the store’s relevance to customers by identifying repeat/identical sales
  • 25. Kroger Company: Data is “In the Bag” Kroger also leverages its data to continually improve on its ability to deliver the right products at the right price with great service and an enhanced shopping experience. Data provides Kroger meaningful insights that can benefit their entire value chain while creating significant competitive advantage.
  • 26. Embracing a Data-Driven Future Data is changing how marketers shape their customer experience journeys and brand interactions. As you develop your marketing strategies, remember it’s not just about numerical data; it’s about the insights you derive from the data. The future of marketing is about your ability to leverage these insights to connect with customers and deepen your relationships with them over the long term.
  • 27. 610 941 6100 5166 Campus Drive Plymouth Meeting PA 19462 Visit us at www.gostrata.com For more ideas on data-driven marketing… © 2016 Strata Company
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