Persona™

Seeing Customer Segmentation in a New Light

© 2015 Blueocean Market Intelligence

About us


Global analytics and insights leader with 1,000 analysts providing decision support for sales, marketing and product planning

We Are

Enable businesses to make sound, data-driven decisions through a multi-disciplinary approach and 360 view of customers, competitors and markets

Vision

Exciting, Innovative, Creative, Data-Driven

Culture

Deloitte list of Fastest Growing Companies (5 years)

Fortune Magazine/IAOP Top 100 Outsourcing Companies in the World (5 years)

Recognition

1


Data and analytics are the new source of competitive advantage

Cost/Process Technology Data/Analytics

Until 1990s 2010 Onwards

2


Are Data / Analytics practices new?

2004 2005 2006 2006 2007 2008 2009 2010 2011 2012 2013 2014

Big Data Analytics

Source: trends.google.com

3

Agenda: rethinking our customer definitions

• Reality check: today versus yesterday

• Seeing the light: what organizations are missing

• Introducing Blueocean Market Intelligence’s Persona™ platform

© 2015 Blueocean Market Intelligence 4

CUSTOMERS TODAY ARE “HYPERCONNECTED”

Always on, always available and multi-platform


Total U.S. Internet Usage in Minutes by Platform (Figures in Billions)

Dec 2010 401

131

11

Dec 2013 429

442

124

Jul 2014

+1040%

+237%

+7%

521

143

495

+16%

+17%

1,159

995

543 +83%

Tablet

Smart phone

Desktop

Device Adoption Does Not Cannibalize: It Compounds

+15%

+17%

Insatiable appetite for more


The internet of things brings a unimaginable world of consumption

The 1990’s fixed Internet wave connected 1 billion users, while the 2000’s mobile wave connected another 2 billion. The IoT has the potential to connect 10 times as many.

Progression of Connectivity: People and Things

“Fixed” computing (you go to the device)

Mobility/BYOD (the device goes with you)

Internet of Things (age of devices)

Internet of Everything (people, process, data, things)

1995 2000 2013 2020

200M 10B

50B

7


However, customers remain human

System 1 System 2

Two modes of thinking and decisions are often made, using emotional rather than rational thinking

8

Customers are leaving behind important information

Customers leave behind identity imprints, needs, and wants as digital “crumbs” as they traverse through different platforms and devices


Organizations are ill-prepared for the new world


1 Data explosion

2 Social media

3 Growth of channel and device choices

4 Shifting consumer demographics

5 Financial constraints

6 Decreasing brand loyalty

7 Growth market opportunities

8 ROI accountability

9 Customer collaboration and influence

10 Privacy considerations

11 Global outsourcing

12 Regulatory considerations

13 Corporate transparency

Mean

The biggest headaches The four most prominent challenges for CMOs are the data explosion, social media, proliferation of channels and devices, and shifting consumer demographics.

“The most effective CMOs focus on getting to know individuals, not just markets. They mine new digital information sources. And they use customer analytics to turn data into insights on which their organizations can act.”

1

2 3

4

5

7 10

11

13

12

6

8 9

0 20 40 60

40

50

60

70

Under preparedness Percent of CMOs reporting under preparedness

Factors impacting Marketing Percent of CMOs selecting as “Top five factors”

IBM CMO Study 2015

10


Most fall into a traditional traps

So why do organizations decide to cluster them leveraging inside out behavioral and

attitudinal data?

Humans are unique

11

Dissecting traditional customer segmentation exercises

• More time-based, whether quarterly, semi-annual or annual; handful are

monthly

• Highly oriented towards behavioral data and commonly leveraging

interaction and transaction information

• Frequently based on “RFM” models

• Do not take into account current and future needs of the customer



Customer lifetime value: challenging the one-dimensional view

Loyalty Advocacy

Loyalty Advocacy

Loyalty Advocacy

13

It is not rocket science


Leverage 0 and 1 to know the “one”

14

It all starts with them…

What do they want?

What preferences do they have?

What are their social circles?

How do they want to interact with you?

?


Get to know your customers and prospects

15

Introducing Blueocean Market Intelligence’s Persona™ Solution


Overview

• Near to real-time insights from the individual’s digital channels as defined by business priorities

• Ability to integrate organizational customer segments and other behavioural data

• Maps conversations with the context to organizational priorities and focus areas

• Identifies power users and separates the potential advocates from the noise

• Sorts and filters by different measurable criteria to obtain relevant results


Organizational users: use cases


• Convert customer segments into different buyer personas

• Enhance better target strategies for Prospects / Leads

• Drive innovation for MARCOM

• Drive competitive tactics and strategy plans

• Enhance scoring engines

Marketing

• Create more enriched prospect / customer strategy

• Drive better communication engines

• Prospect scoring: high vs. low

• Augment the prospect / customer details and insights

Sales

• Create customized web user experience for different personas and segments

• Improve web user experience by identifying customer pain points during their digital journey

User Experience

• Fuel market research opportunities by

• Product innovation • Consumer insights • Market white spaces

Market Research

18

Recap of today’s discussion

1. Setup a right strategy to exploit power of data, technology and process

2. Understand customers at an individual level rather than segments

3. Advocacy a new dimension in measuring customer life time value



Thank You

For more information: Anees Merchant, Senior Vice President – Digital Email: [email protected] Twitter: @aneesmerchant LinkedIn: www.linkedin.com/aneesmerchant

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Persona™