Achieving Dialogue In The Age Of The Omni-Channel Customer

#CustomerDialogue

Achieving Dialogue In The Age Of The Omni-Channel Customer

#CustomerDialogue

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Panelists

Jeff Nicholson, VP Global Marketing –

Customer Analytics and Interaction

Pitney Bowes Software

Alicia Fiorletta Associate Editor

Retail TouchPoints

Achieving Dialogue In The Age Of The Omni-Channel Customer

Jeffrey M. Nicholson Vice-President of Global Marketing Customer Data, Analytics and Interaction Pitney Bowes Software

Welcome!

Jeff Nicholson VP of Global Marke.ng Customer Analy.cs and Interac.on Pitney Bowes So-ware

Now lets; review how PBBI capabili5es are synched and matched to the requirements of an organiza5on in helping them build out life5me rela5onships with their customers.

Agenda

Audience Poll

Audience Poll (Select Mul)ple)

10

Which of the following channels does your organiza)on use to conduct 1:1 marke)ng campaigns?

• Store / Call Center • Web Site • Mobile / Social • Direct Mail • Email

Audience Poll (Select One) Does your organiza)on have a current ini)a)ve or outward facing

market message regarding being “customer-‐centric”?

•  Yes •  No

Is THIS How Your Customers Feel?

Top Trends Affec)ng Customer Marke)ng

Increased expectation of relevance

Customer insight now a required core competency

Focus on efficiency & repeatability through automa5on

Increasing importance of

customer centricity

Fundamental need for a 360° view -- customer portrait

Economic pressures,

smaller budgets Mini-capex Need for predictive

analytics to ensure customer relevance

More and more customer data!

Optimization, desire to balance needs of

customer with corporation goals

Efficiency Drivers

Customer Trends

Effec)veness Drivers

Corporate Trends

Increased opt-out

More channels, need for connected conversations

Increased ad-fatigue

Heightened competitive climate

More accountability for results:

test & measure

Less brand loyalty Greater expectation of value

Drive to increase throughput


Agenda

“What customers expect from us” “What we actually have”

Reality

•  Product-‐centric campaigns

•  Opera5onally focused

•  Informa5on & channel silos

•  Independent business units

•  Customer ad fa5gue •  Limited capacity for engagement

Expecta)on

• We understand them

• We value their business

• We deliver on our promises

• We remember them

• We strive for relevancy

• We are connected

The “Customer-centricity Chasm”

“The Customer-centricity Chasm”

Customer Profile

Transaction

Channel

Lines of Business

Customer Preference

DATA CRM TOUCH POINTS

Infuse customer-specific insight into touch points

INCREMENTAL CRM

Understand past behavior Predict future needs

What à Why Next à Change

Right message, right time Dialogue across touch points

Optimize engagement

“Line of sight”

“Hindsight” “Foresight”

Inbound Outbound


Agenda

Marke)ng Strategy is Transforming

Campaign

• Direct •  Product •  Campaign •  Interrup5on •  Loyalty Scheme •  Push •  Channel-‐specific

Dialogue

•  Two-‐way • Value-‐add •  Conversa5on •  Par5cipant •  Trusted Rela5onship •  Customer Access •  Channel-‐agnos5c

Choreographing the Life)me Customer Rela)onship

Acquire > Onboard > Serve > Grow > Retain/ Reconnect

Suspect/ Prospect

Customer Active Customer

Best Customer

Recaptured Customer

Revenu

e

$0

Value

Op)mized Customer Rela)onship

Required Competencies

Data Insights (Analytics) Strategy Relationships/Communications

Typical Customer Lifecycle

20

Please update your preferences

Last day of personalized

offer

Personalized offer

Customer completes preferences

We sent you an email

yesterday – do you have

any ques)ons?

Value reinforcement -‐ you saved $X

Documents generated and mailed

Offer acceptance feedback survey

Thank you for upda)ng your preferences!

Your Business

Customer

The Results •  Improved customer experience •  Increased customer sa5sfac5on and advocacy •  Increased customer value, wallet share •  Improved customer reten5on •  Single source for customer preferences

Optimized Customer Dialogue

Direct Mail

E-‐mail

Social Media

OUTBOUND CHANNELS

Text

Mobile

Contact Centers

Branches/ Stores

Web sites

INBOUND CHANNELS

Social Media

DATA MANAGEMENT

INSIGHT

STRATEGY

COMMUNICATIONS

Cri)cal Components for Achieving Cross-‐channel Dialogue

COMPANY

CUSTOMER

Assembling your Dialogue Strategy

Event Triggers: Choreographing the Customer Rela)onship

•  Customer “life cycle” triggers •  e.g. new customer, cross-sell, contract expiration

•  Customer “life stage” triggers •  e.g. New baby, empty nester, retirement, marriage, birthday, etc

•  Transaction behavioral triggers •  e.g. Abnormal changes in transactional purchase patterns, spending

habits, account deposits, etc

•  Customer-initiated triggers •  e.g. Inbound interactions, online behavior

•  External triggers •  e.g. Socioeconomic & competitive

Effec)vely Orchestra)ng Customer Dialogue

page 25

Seek an Easy-‐to-‐use Interface Designed for Marketers •  Low learning curve

•  Intui5ve opera5on even for complex mul5-‐step, mul5-‐channel scenarios

Choreograph Cross-‐channel Dialogue Across All Customer Touch Points •  Online: Email, web, PURL

•  Social: Twi\er, Facebook

• Mobile: SMS, MMS

•  Offline: Direct mail, telemarke5ng

•  Service Branch, ATM, call ctr, IVR, web

•  Listening: Integrated online surveys, preference management, feedback management

`

` ` `

` `

`

` ` ` `

` ` ` `

`

KNOWN

Trends in Omni-channel Dialogue: Closing the Marketer’s “Blind-spot”

Rules Engine Based!

Big Decisions!

Mobile & Web Channels Social Channels

ANONYMOUS P

RO

FILE

S

DIA

LOG

UE

S

Integrated Traditional Channels

Crowd Driven!

Micro Decisions!

On The Best Next Action!

Trigger and Inject!

Relevant experiences on the right channel!

Continuous Profiling! Append!

Merge! Synchronize!

Identify!

Transfer!

Verify!

Continous Dialogues!

!


Agenda

Business Challenge: Increase customer life5me value and provide ideal customer experience by op5mizing every contact with mass-‐affluent customers Portrait “best-‐next-‐ac>on” was implemented within Merrill Lynch Wealth Management ‘s exis>ng CRM call centers, web site, IVR and branches.

Benefits §  35% increase in revenues ($$ millions weekly) §  55% improvement in client sa5sfac5on §  14% improvement in agent produc5vity §  26% increase in customer reten5on §  16 week implementa5on

& 1to1 Media

Case Study: Op)mized Dialogue

Sales from 1:1 Marketing

0100,000200,000300,000400,000500,000600,000700,000

00/01 01/02 02/03 03/04 04/05 05/06 06/07 07/08

Direct Marketing Prompts

Benefits of Moving from Campaign to Dialogue

Real World Results from an Actual PBS Customer

Tradi5onal Direct Marke5ng Op5mized Inbound Dialogue

Today -‐ 2 Years -‐ 4 Years -‐ 6 Years -‐ 1 Year -‐ 3 Years -‐ 5 Years -‐ 7 Years

Defining Your Omni-‐channel Strategy

1.   Data Capture from day 1 of rela5onship Establish “your” 360° view Validate, enrich, integrate

2.   Insight Move beyond markets/segments Predict future needs at individual level Infuse into every omni-‐channel interac5on

3.   Strategy Orchestrate “best next ac5on” Take stock of true channel use Map goals to customer rela5onship

4.   Communica)on Leverage “engagement” channels Close the “blind spot” Start simple, monitor and refine

Take action. Make quick gains in as little as 16 weeks– without ripping & replacing.

Q&A Contact Us: Jeff Nicholson VP of Global Marke)ng, CAI Pitney Bowes Soiware E: [email protected] T: @jnicholson30 L: hHp://www.linkedin.com/in/jeffnicholson

#CustomerDialogue

Q&A // Submit Your Questions

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Q&A

Jeff Nicholson, VP Global Marketing –

Customer Analytics and Interaction

Pitney Bowes Software

Alicia Fiorletta Associate Editor

Retail TouchPoints

#CustomerDialogue

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#CustomerDialogue

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10 Trends Transforming The Store Wednesday, September 26 12 PM ET / 9 AM PT