Showing posts with label customer experience. Show all posts
Showing posts with label customer experience. Show all posts

19 April 2018

MARKET - Reinventing The Customer Experience

Michael Forhez of Oracle and Michelle Evans of Euromonitor  Identified Nine Key Drivers along the Customer Journey


  Staying relevant is no easy task given the multitude of underlying forces now continuously shaping a new world of commerce. The speed of thought, coupled with its ever more connected consumer means relevancy is a very desirable element of the Customer Satisfaction Strategy. To address this need, Oracle and Euromonitor International partnered to examine key drivers along the customer journey.


30 December 2016

BUSINESS - Emotional Decision-Making in the Digital Marketplace

Humans are emotional creatures.

Emotions, both positive and negative, are naturally occurring responses to situations, and science has even determined why humans have emotions – they act as motivators.

As How Stuff Works puts it, “From an evolutionary standpoint, emotions are the agents of change and reaction.”

Emotions motivate our decision making as well.

Neuroscientist Antonio Damasio found that, “Emotion may well be the support system without which the edifice of reason cannot function properly and may even collapse.” 

What this means is that emotions are as much, if not more, integral to human decision-making as logic and reason.

What does that mean for marketers and businesses in the world of mobile commerce?

According to Forrester, it means that consumers, who have always been emotional and whose emotions have always influenced their purchasing choices, now have “the power, willingness, and ability to take action when provoked by a great or poor experience.”

Their research indicates that among hotel customers, 90% would advocate for the brand if they felt valued, 67% plan to increase spending with the brand, and 87% plan to stay with the brand.

In contrast, TV service customers, who often feel annoyed at their provider, had very different numbers. Only 8% would advocate for the brand, and merely 13% and 15% planned to increase spending or stay with the brand, respectively.

Customers’ emotional experiences with the brand have a significant impact on their willingness to continue spending.

In a market that makes switching easy and frictionless, those emotional experiences can have an immediate impact on a business’s bottom line.

Although emotions drive decision-making, not every consumer will behave the same way given an emotional experience.

Forrester has segmented consumer types into Progressive Pioneers (20%), Savvy Seekers (17%), Convenience Conformers (30%), Settled Survivors (16%), and Reserved Resisters (18%).

These consumer profiles give insight into how likely a customer is to seek out, or resist, change.


It is the 40% of the market that is made up of Progressive Pioneers and Savvy Seekers that marketers really need to worry about losing as a result of an emotionally negative experience.

These consumers are motivated to seek out change and innovation, and they know what they can expect from adaptive, responsive brands.

Convenience Conformers, a full 30% of consumers identified by Forrester, are also likely to switch brands if the emotional experience and convenience are not acceptable.

So, how does a brand maintain positive emotional connections with consumers, especially given the decrease in face-to-face interactions as a result of the digital marketplace?

One suggestion is to move from a transactional model to one of interactions.

Give customers a story-worthy experience of interacting with your brand, and focus on helping customers feel important. The effectiveness of this is evidenced by the hotel customers and their loyalty to the brands that made them feel valued.

Brands and marketers can also learn from video gaming, where monetizing emotional responses has been honed to a fine art.

Game designers know that players want a sense of social interaction, and a feeling of personal empowerment – these strategies can also be incorporated into the marketplace experience.

About Tiffany Sostar
Tiffany is a writer, editor, academic, and animal lover who came late to her appreciation of pets. At 18, a rescue pup named Tasha saved her from a depression and she hasn't looked back. She has worked as the canine behaviour program coordinator for the Calgary Humane Society, and was a dog trainer specializing in working with fearful and reactive dogs for many years. She doesn't have any pets right now, but makes up for it by giving her petsitting clients (and any dogs she comes across on her frequent coffee shop adventures) extra snuggles.


10 November 2016

BUSINESS - Brands That Make Customers Feel Respected

With the customer experience growing in importance for business success, it’s essential to understand how to gain consumers’ trust and respect.

The customer quotient (CQ) study tries to assess what draws customers to certain brands.

It describes and measures five attributes that consumers value in a brand: openness, relevance, empathy, experience, and emotion.

A brand’s performance on these measures predicts loyalty outcomes and correlates to profit (ROA) and growth (revenue).

The creators of the CQ study believe customers respect companies that they believe respect them in return.

The outdoor clothing and gear co-op, REI, ranked at the top of CQ's ‘companies customers feel most respected by’ list this year.

Last year REI encouraged employees and consumers to spend the day outdoors with their friends and family and closed all its stores on Black Friday.

This initiative paid off. At the end of 2015 REI reported a 9.3% increase in revenue and that digital sales were up 23%.

The study also rates a brand’s authenticity, and companies that “mean what they say” had high scores.

While some basic level of quality is essential, consumers surveyed place a premium on brands that they believe to be “direct, forthright about their values, and consistent in acting on them.”

REI also topped the authenticity category and, interestingly, five of the top ten performers were grocery stores.

The CQ ratings are also applied to industries, with household/beauty/grocery, amusement, technology and non-government organizations ranked as most respectful.

Health care insurance, government and telecommunications are perceived as respecting customers the least. 

These rankings can help businesses in the animal industry understand where they fall on the scale and the amount of effort needed to build customer respect and loyalty.

01 October 2016

DIGITAL - Transform Your Digital Marketing

To help businesses create compelling digital experiences across multiple devices, Adobe has created a series of four webinars.

The series is all about the customer experience, which is a priority for business with the growth in mobile and digital interactions with consumers.

Half of your potential clients change devices on their journey with your brand. With more users purchasing more smart devices, device and channel hopping is becoming the norm.

Session One - How to Create a Foundation for Omnichannel Experiences - focuses on understanding the factors influencing this digital trend, and how to build a foundation that connects web to mobile, complex transactions, and online and physical experiences.

The first webinar takes place this Tuesday, October 4th.

Other topics in the series include:
  • Moving Beyond Web and Mobile Experience Silos, Oct. 26
  • Connecting Transactions Across Channels, Nov. 17
  • Connecting Online and In-store Experiences, Dec. 14

06 September 2016

BUSINESS - Optimize Your Customer Journey Through Mobile

(pexels.com)
Customers don’t just enter your business through the front door anymore. There are websites and numerous social media channels that can bring customers in.

And mobile has caused a huge shift in how customers engage with businesses.

Now you have to understand mobile users’ habits and behaviour so you can maximize sales and engagement. A new customer path has to be carved as businesses strive to be continually engaged with consumers.

So, how do you integrate mobile initiatives into your customer experience strategy?

IBM and Forrester Research have joined forces to offer a webinar - Top Ways to Influence and Optimize the Customer Journey Through Mobile Touchpoints - on Tuesday, September 13th.

Guest speaker Julie Ask from Forrester Research will share case studies and discuss how you can influence customers' decision-making and streamline their journeys through seamless mobile experiences.

You will learn:
  • How companies in different industries benefit from mobile moments and mobile touchpoints to improve overall customer journey
  • How mobile impacts customer journeys, online and offline
  • How customer behavior and preferences impacts future decisions
  • What you can do to influence and guide customers to stay on track of their journey with mobile experiences and engagements.

As customers move away from following traditional paths to your company, this webinar could help you avoid missteps in the mobile market.

Register here.

20 August 2016

DIGITAL - Digital Trends You Need to Know About

No doubt you’ve been hearing terms like ‘customer experience is top priority’ ‘mobile is the future’ and ‘data is key’.

Econsultancy and Adobe surveyed 7,000 marketing, digital and ecommerce professionals around the world to examine these trends and see just where businesses are and should be putting their resources.

The results are now available in the free 2016 Digital Trends report.

Read the report to learn:
  • The top digital priorities and investments for marketers in 2016
  • How to overcome the challenges of using customer data
  • Why marketers continue to struggle with their customer-centric transformation
  • How mobile investment and monetization is a growing priority for engaging customers
  • About the remaining challenges for full digital integration in companies

Wikibrands recently tweeted:
“67% of executives believe digital transformation is a matter of survival for their business via @PrecogDigital”

“CEO’s rank technology factors as the biggest influence on their business, ranked 6th in 2004 via @PrecogDigital”

Don’t delay your digital integration - the fast growing use of mobile and social indicate you'll regret being left behind.

18 August 2016

BUSINESS - Jet.com Adds an Edge to Walmart's Online Presence

Walmart’s purchase of one-year-old startup Jet.com is an important acquisition for the company, which has consistently underperformed in the ecommerce market.

The purchase, for over $3 billion USD, gives Walmart access to Jet’s intentional focus on customer experience and their commitment to keeping the customer experience “delightful.”

As Jet’s director of research, Ben Babcock, told Forbes in an interview prior to the acquisition, “The customer experience … must be seamless, consistent, and delightful from end to end.”

Jet has invested significant time and energy into user testing, and staying connected to their customers.

For consumers who may be avoiding Walmart’s current ecommerce offerings because of existing preconceptions about the brand, this refined focus on customer experience may be enough to sway them away from ecommerce giant Amazon and towards something new and exciting.

According to eMarketer, Walmart’s 2016 projected ecommerce growth was only 9.4%, significantly below the projected US retail ecommerce average growth of 16%.

Acquiring Jet gives Walmart access not only to Jet’s customer experience but also to their infrastructure – their warehouses, staff, and shipping operations – but also the brands that Jet has been able to attract and their more youthful, urban profile.

Bringing Walmart and Jet together has the potential to help both businesses.

They’ve each struggled to compete with Amazon, and both have an interest in tackling the online retailer’s market supremacy. Jet has focused on gamified pricing and a fun user experience in their competition with Amazon, while Walmart has relied on their significant brick-and-mortar presence.

By combining forces, it may be possible for the two companies to make a dent in Amazon’s market share.

Despite the hopes for their combined strengths, both brands will remain distinct. Jet’s CEO and co-founder, Marc Lore, will take over Walmart.com in the US and will also continue running Jet.com.
Keeping the brands distinct is one way that both companies can continue to leverage their unique brands while benefiting from each other’s strengths in quieter ways.

Expanding both brands individually and moving more slowly to an integrated public profile will give customers time to adjust, and hopefully provide Walmart with a larger online footprint in the next year.

By Tiffany Sostar
Tiffany is a writer, editor, academic, and animal lover who came late to her appreciation of pets. At 18, a rescue pup named Tasha saved her from a depression and she hasn't looked back. She has worked as the canine behaviour program coordinator for the Calgary Humane Society, and was a dog trainer specializing in working with fearful and reactive dogs for many years. She doesn't have any pets right now, but makes up for it by giving her petsitting clients (and any dogs she comes across on her frequent coffee shop adventures) extra snuggles.

19 April 2012

Making Social Media Work for your Business

In today's day and age, technology and more specifically, social media, can be an effective tool to determine the way consumers buy and bond with brands.

McKinsey and Company have built an educational video that shares the customer experience and provides advice on how to build brand loyalty, as well as managing the organizational challenges to winning in social media.

Watch the video for helpful tips and how to maximize your businesses brand potential through the use of social media.