tag:econsultancy.com,2008:/topics/personalisation Latest Personalisation content from Econsultancy 2016-08-18T15:17:12+01:00 tag:econsultancy.com,2008:BlogPost/68175 2016-08-18T15:17:12+01:00 2016-08-18T15:17:12+01:00 Will Facebook’s artificial image creation solve our stock photo woes? Dr Janet Bastiman <p style="text-align: justify;">Imagine if you could find the image you have in your head, immediately, without having to search through your content library?</p> <p style="text-align: justify;">What if there was a way to search for your image online in real time? Where you could just describe what you wanted and a perfect high-definition image was returned to you within seconds? </p> <p style="text-align: justify;">While we are able to imagine any situation, we currently rely on manual photo manipulation to turn this into an image that we can share.</p> <p style="text-align: justify;">But could we get to a point where we ask our computer: “Show me a picture of me riding a bicycle on Mars,” and a realistic representation is produced?</p> <p style="text-align: justify;">That’s why marketers value creative photographers so highly.</p> <p style="text-align: justify;">And there is no doubting the value a modern genius like Rankin has brought to campaigns as celebrated as Dove’s major worldwide hit campaign ‘Real Women’.  </p> <p><img src="https://assets.econsultancy.com/images/0007/8209/rankin_dove.jpg" alt="" width="700" height="362"></p> <p style="text-align: justify;">Some of the most exciting research I have seen in this area is coming out of the Facebook Artificial Intelligence Team and is based around artificial image creation. </p> <p style="text-align: justify;">Facebook’s team is trying to create 100% computer-generated images that fool humans into thinking that they’re real. </p> <p style="text-align: justify;">In 2015, Facebook published some <a href="http://arxiv.org/pdf/1506.05751v1.pdf">results</a><a title="" name="_ednref1"></a> which indicated that it could create very small images (64x64px) of landscapes from a random 8x8px grid. </p> <p style="text-align: justify;">When those images tested alongside real images downscaled to the same size, the artificial images were judged to be real 40% of the time by the test panel. </p> <p style="text-align: justify;"><img style="vertical-align: middle;" src="http://janjanjan.uk/wp-content/uploads/sites/4/2015/06/Facebook-Deep-Generative-Image-Models.jpg" alt="Facebook artificial images" width="780" height="425"> </p> <p style="text-align: justify;">Earlier <a href="https://arxiv.org/pdf/1511.06434.pdf">this year</a><a title="" name="_ednref2"></a>, the team built on their earlier success by generating more complex scenes, including bedrooms.  </p> <p style="text-align: justify;">While the images were still very small, they do look very realistic as the examples above show and it feels like we are on the edge of a breakthrough in this field.  </p> <p style="text-align: justify;">Personally I expect within the next 6-12 months we’ll start to see images at a larger resolution and slowly there will be the ability to create a realistic image from a text description.</p> <p style="text-align: justify;">There is no doubt that this is a very exciting area of research and, while it is a few years away from practical application, it’s something we should watch closely. </p> <p style="text-align: justify;">Until then I don’t see any immediate move away from human-generated content.</p> <h3 style="text-align: justify;">User-generated content</h3> <p style="text-align: justify;">One of the best ways of currently finding an image for your campaign that resonates with your target audience is by using user-generated content (UGC).</p> <p style="text-align: justify;">UGC is one of the most trusted forms of marketing; from YouTube stars promoting products to companies paying people to push their content on social media, this is a form of marketing that actually drives measurable sales.</p> <p style="text-align: justify;">UGC is more trusted and more effective for a company than traditional advertising and with new methods popping up all the time, it looks set to continue.</p> <p style="text-align: justify;">Using on-open live UGC in email can result in a 43% increase in click-through rates, up to 3x conversion rate improvement, and 86% consumer trust rating as an indicator of product/service quality.</p> <p style="text-align: justify;">Studies show that UGC is 50% more trusted than any other content<a title="" name="_ednref3"></a> and, combined with brand content, can result in a more authentic, personalised and connected <a href="https://econsultancy.com/training/courses/creating-superior-customer-experiences/">customer experience</a>.</p> <p style="text-align: justify;">One large brand already using UGC in their summer email and social campaign <em>#myholidayhabits</em> is Teletext Holidays, the UK’s longest established digital travel agency in the UK, with nearly 300,000 customers last year.</p> <p style="text-align: justify;">Kelly Maher, Head of CRM at Teletext Holidays explains: “Since using UGC, we have seen an unprecedented 2x increase in customer engagement in our campaigns.</p> <p style="text-align: justify;">"My team and I are now able to use up-to-the-second user generated content from all major social channels including Facebook, Instagram, Pinterest and Twitter to populate our emails with truly personalised, highly engaging content for every user on-open.”</p> tag:econsultancy.com,2008:BlogPost/68132 2016-08-16T15:15:10+01:00 2016-08-16T15:15:10+01:00 10 key challenges facing CRM marketers Ben Davis <h3>1. Too much data, not enough action? </h3> <p>In 2015, Econsultancy's <a href="https://econsultancy.com/reports/measurement-and-analytics-report/">Measurement and Analytics report</a> showed that 40% of executives found more than half of their collated analytics data was useful for decision-making.</p> <p>That proportion of marketers dropped to 33% in the recent 2016 survey, due perhaps to an increase in complexity, particularly in advertising, with new technology hitting the market.</p> <p><img src="https://assets.econsultancy.com/images/0007/8066/Screen_Shot_2016-08-16_at_10.48.02.png" alt="how much data do analysts use?" width="615"></p> <p>One other explanation could be that mid-tier organisations are getting more of their data in order, but haven't quite worked out what to do with it yet.</p> <p>This seems to be the story when I speak to Ivan Mazour, CEO and founder of Ometria.</p> <p>The company started out in data and analytics, combining data for clients to create <a href="https://econsultancy.com/blog/65425-what-is-the-single-customer-view-and-why-do-you-need-it/">a single customer view</a> (from ecommerce purchase data, to website data, marketing data, offline data etc.).</p> <p>However, Ometria changed direction a couple of years back, realising that when many of its customers got their data in order, they weren't entirely confident how to act on it.</p> <p>In Ivan's words: "Just getting the data didn't solve any of their problems, they wanted to take the next step."</p> <p>So, Ometria developed a cross-channel platform aiming to create unified customer communication journeys (through email, web, social) based on customer data, with a focus on retention and lifetime value.</p> <p>This data-driven CRM retention strategy is what many brands are currently working towards.</p> <h3>2. Avoiding short termism</h3> <p>As any CRM expert will tell you, some customers are worth more than others, and that's something that has to be borne in mind when creating a contact strategy.</p> <p>Jill Brittlebank, senior director of strategy and analytics at Zeta Interactive (a big data and analytics company) sums up the challenge of short termism:</p> <p>"There can be a lot of focus on day-by-day trading metrics, so if trading's down, marketers might send a message or create a campaign, rather than asking themselves 'are we growing our overall customer value?'</p> <p>"'Are we increasing frequency of purchase, basket size, certain category purchases, etc.?' These are the things that grow sustained performance.</p> <p>"Yes, you have to keep the funnel fed, but understanding your acquisition - what is driving the highest value customers as well as highest volume - is really important.</p> <p>"As attribution becomes more accessible to the mid tier, they understand better the value of each contact"</p> <p>Brittlebank's comment on attribution echoes some findings from our Measurement and Analytics report, which shows the proportion of marketers who state that they are using an attribution model has risen by 16% in 2016.</p> <p><img src="https://assets.econsultancy.com/images/0007/8072/Screen_Shot_2016-08-16_at_11.31.55.png" alt="attribution model usage" width="615"></p> <h3>3. Bridging the gap between acquisition and retention</h3> <p>Acquisition strategies have become more complex, particularly when it comes to programmatic advertising, now available across major social channels.</p> <p>Jill Brittlebank, Zeta Interactive, points out that there's a disconnect between acquisition and retention strategy, which mirrors the disconnect between sales and marketing in many organisations:</p> <p>"Typically customers are most likely to buy when they first engage with your company, and that's when you know least about them.</p> <p>"The challenge is to pull through the data from acquisition (cookie pools etc.) to influence growth and retention.</p> <p>"Many companies are using DMPs and have the ability to be targeted at a prospect level; the next win is to bring that through into your customer marketing. </p> <p>"There's a break - you have really rich targeting, but then the slate is wiped clean once the customer lands." </p> <h3>4. Behaviour-based personalisation</h3> <p>Targeting is becoming a much-debated topic in advertising and marketing.</p> <p>Only recently, <a href="https://econsultancy.com/blog/68182-what-can-p-g-and-facebook-teach-us-about-the-reality-of-targeting-and-the-future-of-tv-ads/">P&amp;G admitted it had gone too broad</a> with its Facebook advertising, and many creatives argue that the big idea trumps poorly created micro-segmented content.</p> <p>There's another consideration when it comes to retail in particular, and that's the <a href="https://econsultancy.com/blog/67250-seven-avoidable-marketing-automation-mistakes/">inadequacy of broad persona-based marketing</a> - assumptions about a particular age or sex of customer are always going to be just that, assumptions.</p> <p>Jill Brittlebank says that much of what companies need to do is "removing dissonance."</p> <p>"As consumers," she continues, "we get less and less tolerant of irrelevant messages. Younger users particularly.</p> <p>"So if I get a 'half term' style message when I've never shopped the kids category, I'm right to ask 'why?'</p> <p>"If I've shopped at Ocado for years, for example, they should know enough about me by now, what I'm buying etc., then talk to me like Arkwright from Open All Hours. The ultimate goal is to recreate that old retailer relationship."</p> <p>This difference between persona- and behaviour-based marketing is something Ivan Mazour, Ometria, sums up succintly:</p> <p>"It doesn't matter if the customer is a 45-year-old woman based in Clapham, we should be making decisions based on the fact that she only ever buys men's clothing with us.</p> <p>"Not random probabalistic hopes about what she wants, but actually knowing what she's looking at, how often she comes to the website, across all devices."</p> <p><em>A Shutterfly email faux pas - <a href="http://www.thehubcomms.com/news/shutterflys-email-faux-pas-when-marketing-automation-goes-wrong/article/347359/">wrongly assuming someone has given birth</a>.</em></p> <p><img src="https://assets.econsultancy.com/images/0005/5265/shutterfly_original_email_grap_594069.jpg" alt="shutterfly" width="553" height="663"></p> <h3>5. Optimising email content</h3> <p>Having decided to target customers based on their behaviours, the next question is what content to target them with and when.</p> <p>Retailers must set rules - how many times does a customer need to look at a category or product before we send an email?</p> <p>Mazour highlights two strategies for the content of these emails, either "templated around a category, which includes a browsed product, so it looks like it has been visually merchandised. Or a mix of categories."</p> <p>This is the type of content optimisation that any company can employ, using "unsubscribe and conversion rates to create an optimisation routine."</p> <p><strong>The 'nudge'</strong></p> <p>The skill in content creation is subtletly, according to Jill Brittlebank.</p> <p>She says its about maintaining "the thrill of discovery, like finding something in the boutique off the high street - the perception of value is higher."</p> <p>"So the challenge," she adds, "is using technology as a predictive tool but also nudging customers towards the next product with subtlety, without saying 'look, you're going to buy this next'."</p> <p>Brittlebank also points out how important content is in modern ecommerce:</p> <p>"[Editorial such as] 'Ways to style', 'one dress three ways', 'daytime to evening', all that sort of stuff, it drives engagement. It doesn't necessarily drive the next purchase, but if the customer isn't in active purchase, you're looking to inspire them."</p> <h3>6. Optimising email frequency</h3> <p><a href="https://econsultancy.com/blog/62997-send-more-email-make-more-money/">More email, more money</a> is an <a href="https://econsultancy.com/blog/63747-why-more-emails-at-christmas-almost-always-means-more-money/">oft-heard mantra</a>, and one <a href="https://econsultancy.com/blog/64165-email-frequency-how-much-is-too-much/">we've discussed plenty</a> on the Econsultancy blog.</p> <p>Ivan Mazour, Ometria, is straightforward on the issue: "We agree with that. All research shows that over one email a day is optimum, assuming they're quality."</p> <p>Of course, that doesn't mean that all retailers do this, and one contact frequency for all customers may not be desirable.</p> <p>Hannah Stacey, marketing manager at Ometria, points at that companies "can segment on top of email - leave out VIPs from basket abandoment for example. Or leave some segments out from incentives."</p> <p>Care is needed, particularly in some sectors. Mazour says that "the fallout for a luxury brand, for example, can be big when sales emails land after somebody has purchased."</p> <p>Frequency is something that can be tied to a number of factors - purchase patterns and engagement.</p> <p>Jill Brittlebank, Zeta Interactive, gives a very practical example:</p> <p>"Look at groups of customers who only buy in the lead up to the holiday period at the end of the year.</p> <p>"You could gently nudge these people to purchase something pre-summer holiday perhaps? But really you want to market to them during the time they traditionally purchase."</p> <p><img src="https://assets.econsultancy.com/images/resized/0004/2084/unsubscribing-blog-full.jpg" alt="email frequency" width="615" height="325"></p> <h3>7. Integrating social into a contact strategy</h3> <p>Mazour discusses the effectivenes of using first-party data to target lookalike audiences on social media.</p> <p>However, email continues to be the main channel that customers want to interact with (more than 70% of consumers prefer email, accoring to an Ometria study).</p> <p>But "if someone is not opening emails and you want to reactivate them, you can target them in social," Hannah Stacey comments, "then as soon as they start opening emails, you can switch that social targeting off."</p> <h3>8. Creating mobile experiences </h3> <p>Mobile user experience is something that most people are now fully aware of when it comes to web and email design.</p> <p>However, Jill Brittlebank points out the potential of mobile for rich customer insight.</p> <p>That's because users are more likely to browse on mobile, and the functionality of the device (e.g. swiping) is something that could be utilised to greater effect, presenting users with experiences that can build out their profile for the retailer.</p> <p>We've already seen retailers like Missguided <a href="https://econsultancy.com/blog/67600-missguided-launches-tinder-inspired-app-experience-review/">integrate Tinder-style experiences</a> into apps, but there's perhaps more to be done here, to engage users on mobile web, particularly those that arrive from email.</p> <h2> <img src="https://assets.econsultancy.com/images/0007/2583/IMG_2661.PNG" alt="swipe to hype" width="300">  <img src="https://assets.econsultancy.com/images/0007/2584/IMG_2663.PNG" alt="swipe to hype" width="300"> </h2> <h3>9. Getting hold of in-store data</h3> <p>This is the holy grail for retailers. Though a select few do have a fantastic <a href="https://econsultancy.com/blog/64758-how-in-store-tech-improves-customer-service-for-schuh/">view of stock across stores</a>, customer data is another thing entirely.</p> <p>Ivan Mazour comments that "most of the challenge is how do you get hold of in-store data. Anything with delivery works well (e.g. furniture) because you need to ask for details, or anything with a warranty (e.g. Jewellery).</p> <p>"But it's difficult for low ticket items, even if it's as simple as asking for an email address for an e-receipt.</p> <p>"It's hard to incentivise the store associate to get that email address. And it's hard to persuade the consumer, because the value exchange of an e-receipt is okay if you're Apple and selling tech, but not for a £15 purchase."</p> <h3>10. Integrating with legacy infrastructure</h3> <p>A last point to consider and another mentioned by Ivan Mazour - lots of existing retail systems update overnight (e.g. store systems).</p> <p>However newer systems like CRM and ecommerce are closer to real-time, making the two harder to integrate.</p> <p>This perhaps isn't a pressing concern but may ultimately affect some parts of <a href="https://econsultancy.com/training/courses/creating-superior-customer-experiences/">customer experience</a> (e.g. the speed at which retailers can offer click and collect).</p> <h3>In conclusion...</h3> <p>Companies are now <a href="https://econsultancy.com/reports/the-role-of-crm-in-data-driven-marketing/">much more data-driven</a>, even fairly traditional retailers. The battle for boardroom approval is largely of the past.</p> <p>But there's still plenty of work that organisations need to do to optimise sophisticated contact strategies, particularly as technology in areas such as retargeting is still advancing.</p> <p>There are likely many more challenges to add to the 10 I have listed above. Please continue the conversation by adding a comment!</p> tag:econsultancy.com,2008:TrainingDate/3030 2016-08-12T12:05:19+01:00 2016-08-12T12:05:19+01:00 Mobile Usability and UX <p>76% of UK adults own a smartphone and these devices are now the UK’s most popular way to get online (Deloitte &amp; Ofcom data, 2015).  Our 1-day training course will help you design a great mobile experience using best practice guidelines and real world examples.  </p> <p>You’ll also have the chance to engage in lots of interactive exercises to make sure that you’re getting the most out of the day!</p> tag:econsultancy.com,2008:BlogPost/68114 2016-08-01T15:36:11+01:00 2016-08-01T15:36:11+01:00 Six tips for loyalty program success Patricio Robles <p>Here are six tips for brands looking to build successful loyalty programs.</p> <h3>Don't overplay the discount card</h3> <p>Discounts are a common part of loyalty programs and probably always will be. But just as discounting outside of loyalty programs isn't always effective, discounting inside loyalty programs isn't always effective either.</p> <p>For example, when a loyalty program provides a discount to a customer already likely to make a purchase, the program really isn't engendering loyalty and moving the needle.</p> <h3>Find ways to make members feel special</h3> <p><a href="https://econsultancy.com/blog/66128-consumers-demand-experiential-rewards-from-loyalty-programs">Consumers are increasingly demanding experiential rewards from loyalty programs</a>.</p> <p>As Director of Search Marketing at 17 Agency and Econsultancy contributor Andrew Broadbent explained, "Simple discounts do not give people an experience that touches their five senses."</p> <p>But emotional, memorable connections <em>can</em> be developed through experiences, such as access to exclusive offers and events.</p> <p>What's more: these experiential rewards are far more likely to be promoted by customers on social media.</p> <p><img src="https://assets.econsultancy.com/images/0006/0129/experiential-rewards-sparks-loyalty-program-engagement.png" alt="" width="470" height="429"></p> <h3>Understand the customer and personalise accordingly</h3> <p><a href="https://econsultancy.com/blog/67070-why-personalisation-is-the-key-to-gaining-customer-loyalty">Personalisation</a> is key to gaining customer loyalty, and savvy brands <a href="https://econsultancy.com/blog/67839-how-l-oreal-uses-personalisation-to-increase-brand-loyalty">like L’Oreal</a> take advantage of this.</p> <p>While personalisation should be employed broadly, brands often have the greatest opportunities to use it in loyalty programs because the data collected through the programs gives brands the ability to understand customer behavior in great detail.</p> <p>With that data, brands can implement effective, personalised discount strategies, as well as experiential rewards that really resonate with specific customer groups. </p> <h3>Avoid unnecessary complexity, but recognize your VIPs</h3> <p>Loyalty programs should offer a clear and compelling value proposition to customers, and that usually means that less complex is better than more complex. But customers aren't created equal and it's important to make sure that the most valuable customers feel valued. </p> <p>Numerous programs have tiers, and as customers establish their loyalty, they can move into tiers that provide greater rewards.</p> <p>For instance, beauty brand Sephora has a three-tiered program and members in the highest tier have access to free two-day shipping, custom makeovers and invitations to private events.</p> <p><img src="https://assets.econsultancy.com/images/resized/0007/7426/sephoratiers-blog-flyer.png" alt="" width="470" height="354"></p> <h3>Be thoughtful and careful about changes</h3> <p>As with any initiative, loyalty programs should be monitored closely and adjustments made when appropriate. Sometimes major changes are required, but it behooves brands to be thoughtful and careful about such changes. </p> <blockquote class="twitter-tweet"> <p lang="en" dir="ltr">Hey <a href="https://twitter.com/Starbucks">@Starbucks</a>, your new <a href="https://twitter.com/hashtag/starbucksrewards?src=hash">#starbucksrewards</a> is NOT about loyalty anymore, but gouging your loyal customers $62.50 for a free coffee. <a href="https://twitter.com/hashtag/GoodBye?src=hash">#GoodBye</a></p> — Jeff Johnston (@jeff_a_johnston) <a href="https://twitter.com/jeff_a_johnston/status/702189442006515712">February 23, 2016</a> </blockquote> <p>Case in point: <a href="https://econsultancy.com/blog/67568-starbucks-shows-perils-of-loyalty-program-changes">when Starbucks updated its rewards program</a> earlier this year, tying rewards to dollars spent instead of visits, it upset many of its customers, creating a backlash that the company had to weather.</p> <h3>Put a time limit on it</h3> <p>In some cases, brands with specific goals can consider implementing short-term loyalty initiatives <a href="https://econsultancy.com/blog/68015-chipotle-launches-a-loyalty-scheme-to-win-customers-back">like the one Chipotle recently announced</a>. </p> <p>Its Chiptopia scheme, which is running for three months only, was launched to help the restaurant chain recover foot traffic after E. coli outbreaks dented its business.</p> <p>Chiptopia offers members free entrées after a certain number of visits, and customers who visit Chipotle 11 times in three consecutive months even receive free catering for a party of 20. Such generous rewards are probably not warranted, or sustainable, over the long term, but if the brand has its way, Chiptopia will help it get customers back into its stores.</p> tag:econsultancy.com,2008:ConferenceEvent/805 2016-08-01T08:38:06+01:00 2016-08-01T08:38:06+01:00 The Rise of Customer Experience & Customer Journey: Optimising Engagement Levels for Greater Customer Acquisition & Loyalty <p style="border: 0px; vertical-align: baseline; text-align: justify;">In collaboration with IBM Marketing Cloud, this <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">Customer Experience (CX) Roundtable Series</strong> is brought to you by Econsultancy.</p> <p style="border: 0px; vertical-align: baseline;">A carefully-designed buyer journey can lead to an excellent customer experience and help you drive value, reduce cost, and build competitive advantage.</p> <p style="border: 0px; vertical-align: baseline;"><em style="border: 0px; font-weight: inherit; vertical-align: baseline; font-variant: inherit;">"The most important thing today is to think about the customer journey mapping and think about it in structures, and in specific areas and architect all those maybe four or five touch points for digital marketing, product and retention."</em> (Dave Walters, Product Evangelist - IBM Marketing Cloud)</p> <p style="border: 0px; vertical-align: baseline;">By attending this <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">roundtable</strong> session, you will not only be able to learn about latest in developments, trends and best practices, but also exchange forward thinking ideas around some of the top-of-mind<strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;"> </strong>issues with like minded peers.</p> <p style="border: 0px; vertical-align: baseline;">Attendance is <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">limited to 30 attendees</strong> to ensure maximum interaction and sharing of insights.</p> <p style="border: 0px; vertical-align: baseline;">As part of the <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">CX Roundtable</strong> series, we are also running sessions in <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;"><a href="https://econsultancy.com/events/cx-rt-series-sydney/" target="_blank">Sydney (6 September)</a> </strong>and <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;"><a href="https://econsultancy.com/events/cx-rt-series-melbourne/" target="_blank">Melbourne (8 September)</a>.</strong></p> <h3 style="border: 0px; vertical-align: baseline; color: #004e70;">The Roundtable Format</h3> <p style="border: 0px; vertical-align: baseline;">The roundtable allows you to discuss a number of related subjects <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">(select 2)</strong> that are most relevant to you and allows you to find out from your peers how they are addressing similar challenges / opportunities.</p> <p style="border: 0px; vertical-align: baseline;"><strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">1. Personalisation</strong></p> <p style="border: 0px; vertical-align: baseline;"><strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">2. Customer Experience Management - Trends, Challenges &amp; Best Practices</strong></p> <p style="border: 0px; vertical-align: baseline;"><strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">3. </strong><strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">Joining Up Online and Offline Channels Data</strong></p> <p style="border: 0px; vertical-align: baseline;">Each roundtable is moderated by Econsultancy and focused on a particular topic with delegates proposing specific questions or challenges they wish to discuss on that topic in the time available.</p> <p style="border: 0px; vertical-align: baseline;">There are 2 roundtable sessions of 60 minutes each, <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">please select 2 most relevant topics when registering.</strong></p> <p style="border: 0px; vertical-align: baseline;">Led by Econsultancy and IBM Marketing Cloud's cross industry subject matter experts, this roundtable session is a 'hands-on' participatory event driven by your priority areas and pain points, enabling you to learn through discussion and debate, gather marketing insights driving effective business decisions, and network with like-minded peers.</p> tag:econsultancy.com,2008:ConferenceEvent/804 2016-08-01T08:37:52+01:00 2016-08-01T08:37:52+01:00 Understanding the Customer Journey: Optimising Engagement Levels for Greater Customer Acquisition & Loyalty <p style="border: 0px; vertical-align: baseline; text-align: justify;">In collaboration with IBM Marketing Cloud, this <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">Customer Experience (CX) Roundtable Series</strong> is brought to you by Econsultancy.</p> <p style="border: 0px; vertical-align: baseline;">A carefully-designed buyer journey can lead to an excellent customer experience and help you drive value, reduce cost, and build competitive advantage.</p> <p style="border: 0px; vertical-align: baseline;"><em style="border: 0px; font-weight: inherit; vertical-align: baseline; font-variant: inherit;">"The most important thing today is to think about the customer journey mapping and think about it in structures, and in specific areas and architect all those maybe four or five touch points for digital marketing, product and retention."</em> (Dave Walters, Product Evangelist - IBM Marketing Cloud)</p> <p style="border: 0px; vertical-align: baseline;">By attending this <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">roundtable</strong> session, you will not only be able to learn about latest in developments, trends and best practices, but also exchange forward thinking ideas around some of the top-of-mind<strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;"> </strong>issues with like minded peers.</p> <p style="border: 0px; vertical-align: baseline;">Attendance is <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">limited to 30 attendees</strong> to ensure maximum interaction and sharing of insights.</p> <p style="border: 0px; vertical-align: baseline;">As part of the <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">CX Roundtable</strong> series, we are also running sessions in <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;"><a href="https://econsultancy.com/events/cx-rt-series-sydney/" target="_blank">Sydney (6 September)</a> </strong>and <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;"><a href="https://econsultancy.com/events/cx-rt-series-melbourne/" target="_blank">Melbourne (8 September)</a>.</strong></p> <h3 style="border: 0px; vertical-align: baseline; color: #004e70;">The Roundtable Format</h3> <p style="border: 0px; vertical-align: baseline;">The roundtable allows you to discuss a number of related subjects <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">(select 2)</strong> that are most relevant to you and allows you to find out from your peers how they are addressing similar challenges / opportunities.</p> <p style="border: 0px; vertical-align: baseline;"><strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">1. Personalisation</strong></p> <p style="border: 0px; vertical-align: baseline;"><strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">2. Customer Experience Management - Trends, Challenges &amp; Best Practices</strong></p> <p style="border: 0px; vertical-align: baseline;"><strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">3. </strong><strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">Joining Up Online and Offline Channels Data</strong></p> <p style="border: 0px; vertical-align: baseline;">Each roundtable is moderated by Econsultancy and focused on a particular topic with delegates proposing specific questions or challenges they wish to discuss on that topic in the time available.</p> <p style="border: 0px; vertical-align: baseline;">There are 2 roundtable sessions of 60 minutes each, <strong style="border: 0px; font-style: inherit; font-variant: inherit; vertical-align: baseline;">please select 2 most relevant topics when registering.</strong></p> <p style="border: 0px; vertical-align: baseline;">Led by Econsultancy and IBM Marketing Cloud's cross industry subject matter experts, this roundtable session is a 'hands-on' participatory event driven by your priority areas and pain points, enabling you to learn through discussion and debate, gather marketing insights driving effective business decisions, and network with like-minded peers.</p> tag:econsultancy.com,2008:BlogPost/68099 2016-07-25T12:57:00+01:00 2016-07-25T12:57:00+01:00 Three ways UK retailers can utilise the post-Brexit GBP drop to target international customers Ido Ariel <p><a href="http://www.barilliance.com/brexit-sales-statistics-one-week-later/">An analysis by Barilliance</a> indicates that:</p> <p><strong>1.</strong> A higher number of consumers were browsing the retailers’ websites, with sessions increasing by 5.9%.</p> <p><strong>2.</strong> More visitors were converting and making purchases, leading to a 30% increase in sales.</p> <p><strong>3.</strong> Fewer consumers were abandoning their shopping carts prior to making a purchase; cart abandonment dropped slightly by 1.3%.</p> <p>In light of these findings, UK retailers should utilise specifically-targeted website personalisation tactics to entice international shoppers browsing UK retail sites, thereby increasing the conversion rates of non-UK leads.</p> <h3>Create a sense of urgency with prompts highlighting current low GBP rate </h3> <p>UK retailers can create prompts, such as banners, messages and pop-ups, highlighting the low GBP rate to non-UK website visitors.</p> <p>Geo-targeting consumers, using methods such as e-mail acquisition and sending out <a href="https://econsultancy.com/blog/67815-why-marketers-are-failing-to-make-the-most-of-automated-emails/">trigger e-mails</a>, can enable UK online retailers to promote post-Brexit currency shifts to their advantage, marketing ostensibly reduced prices to international customers accustomed to making transactions in other currencies.</p> <p>Furthermore, highlighting the current low GBP rate as a “limited-time opportunity,” likely to change at any given moment, UK online retailers can create a sense of urgency among non-UK website browsers, promoting conversion even amongst the most hesitant of shoppers.</p> <h3>Create targeted promotions to international website visitors to enhance personalisation</h3> <p>Creating geographically-targeted promotions to website visitors from foreign countries enhances personalisation and increases conversion.</p> <p>Retailers can create banners and popups targeted at specific countries or regions and segment these promotions by city, thus providing the consumer with a very personalised shopping experience.</p> <p>For example, a retailer could offer German customers a special coupon that is exclusively available to them - or that appears to be exclusive.</p> <p><img src="https://assets.econsultancy.com/images/resized/0007/7284/germany_welcome_image-blog-flyer.jpg" alt="german promotion" width="470" height="311"></p> <p>Additionally, while the current GBP-foreign currency exchange rate may tempt website browsers to purchase from UK retail sites, the mere thought of international shipping and customs fees may be daunting enough to lead customers to abandon their carts and pay a heftier local product price.</p> <p>UK online retailers can create personalised website prompts announcing to international customers that the company provides shipping services to international addresses. Furthermore, they can offer free or reduced-cost international shipping to non-UK customers.</p> <p>Customers who do not have to worry about shipping hassles and costs are more likely to make international purchases, despite longer delivery wait times when compared to items bought locally. </p> <p>If the customer abandons the cart before completing their purchase, retailers can send geo-targeted email that highlight the free or low-cost and makes the purchase worthwhile.</p> <h3>Issue limited-time discounts or coupons to international customers</h3> <p>Presenting non-UK customers with promotional offers valid for a limited time can entice consumers to act immediately and purchase desired items at the reduced price.</p> <p>Internationally-geared limited-time discounts and coupons benefit the company’s overall revenues as well.</p> <p>UK companies feeling the post-Brexit economic pinch can vastly increase individual sales to international customers using promotional offers, despite the company’s profit-per-item rate being lower than originally projected.</p> <p>The discount offer value can be changed according to the cart value, enabling retailers to offer, for example, a 15% discount for carts up to £499 and a 20% discount for carts above £500.</p> <p><img src="https://assets.econsultancy.com/images/resized/0007/7285/cart_content_over_100_pound-blog-flyer.png" alt="personalised voucher" width="300">  <img src="https://assets.econsultancy.com/images/resized/0007/7287/cart_content_over_500_pound-blog-flyer.png" alt="limited time offer" width="300"></p> <h3>In conclusion</h3> <p>UK online retailers should take advantage of the post-Brexit referendum low GBP rate and target non-UK website visitors utilising <a href="https://econsultancy.com/reports/website-personalisation-buyers-guide/">website personalisation</a> tactics.</p> <p>International customers benefit from the strengthening of foreign currencies against the GBP, while the UK retailers gain new customers, increased sales, reduced cart abandonment and a rise in overall revenues. </p> <p><strong><em>More on Brexit and ecommerce:</em></strong></p> <ul> <li> <a href="https://econsultancy.com/blog/68003-ecommerce-in-the-uk-post-brexit-positives-negatives-opportunities/">Ecommerce in the uK post-Brexit: positives, negatives &amp; opportunities</a> </li> </ul> tag:econsultancy.com,2008:BlogPost/67979 2016-06-23T14:27:54+01:00 2016-06-23T14:27:54+01:00 The five steps to an effective and repeatable sales process Shaun Haase <p dir="ltr">The most important thing to remember is to establish clearly defined goals early on to ensure that your sales team is on the same course of action as you.</p> <p dir="ltr">By developing and implementing a strategy that’s consistent across all of your customer segments and touchpoints, your sales team becomes a well-oiled machine that offers the same impeccable service and experience that is in line with your company’s bottom line.</p> <p dir="ltr">Here are five steps to help you get started:</p> <h3 dir="ltr">1. Segment your leads</h3> <p dir="ltr">Organizing your leads is the key to success. Business is done by people, and as such, there is enormous value in noting the unique attributes and preferences of each potential or existing customer.</p> <p dir="ltr">From the industry they’re in, to their communication preferences, remembering the specific needs of each lead helps establish your sales team as more personable, relatable and thoughtful.</p> <p dir="ltr">This level of <a href="https://econsultancy.com/blog/66576-why-make-it-personal-personalisation-vs-contextualisation/">personalization</a> can only be achieved by segmenting your customers, either based on their industry, opportunity or other variables.</p> <p dir="ltr"><img src="https://assets.econsultancy.com/images/0007/6380/segment.jpg" alt="" width="545" height="362"></p> <p dir="ltr">Lead segmentation can also help reduce the number of emails sent, increase the open rate for each message and help your sales team gain valuable insight into what does and doesn’t work.</p> <p dir="ltr">Sales teams will be able to cater to customers in a more personalized way, which can lead to higher conversion rates because they feel like a person is reaching out to them, not Mailchimp.</p> <h3 dir="ltr">2. Start with the full cycle in mind</h3> <p dir="ltr">Initiate the sales cycle with communication that’s warm and inviting.</p> <p dir="ltr">The first point of communication should bring awareness of your product to the customer; it’s certainly not the time for a hard sell, though the time for this will surely come.</p> <p dir="ltr">If you jump too early, you’ll be putting yourself at risk of alienating the potential customer even before they’ve had a chance to learn about what you have to offer. </p> <p dir="ltr">Use the first touchpoint to get to know the customer. When you better understand their desires and pain points, you’ll be able to craft a relevant message that speaks to their exact needs.</p> <p dir="ltr">More importantly, see this first step as part of a larger story that’s weaved together through multiple touchpoints.</p> <p dir="ltr">What is the key message you want to convey to this customer? Be brief, to the point and think carefully about a messaging tactic that will resonate with your target audience. </p> <p dir="ltr">You may also encounter customers who are familiar with your product and have already shortlisted you as a viable solution. Don’t be too pushy but do try to feel customers out.</p> <p dir="ltr">Give every customer the opportunity to take action with a simple call-to-action that empowers them to move forward if so desired. </p> <h3 dir="ltr">3. Utilize feedback to refine your pitch</h3> <p dir="ltr">Customer feedback can dramatically enhance the effectiveness of your messaging and communications.</p> <p dir="ltr">By analyzing email open and response rates from previous campaigns along with a customer sentiment audit, you’ll be able to uncover valuable insights on customer interest or lack thereof.</p> <p dir="ltr">If the messaging you’re using is not hitting your engagement targets, take the time to evaluate the issue and <a href="https://econsultancy.com/blog/64116-a-b-testing-software-recommendations-from-four-ecommerce-experts/">try A/B testing</a> different variations of your core message.</p> <p dir="ltr"><img src="https://assets.econsultancy.com/images/0007/6381/alphabet.jpg" alt="" width="750" height="472"></p> <p dir="ltr">You might even find that you need to expand your predefined customer segments to ensure that all customers are being ushered down the most effective sales path for them. </p> <p dir="ltr">Utilising existing feedback on your outreach is important when optimizing your sales strategy.</p> <p dir="ltr">You’ll quickly learn which types of messages and approaches work best on each group, and you’ll also be able to better identify which customer segments are proving to be the most valuable.</p> <p dir="ltr">By regularly monitoring and adjusting your communications, you’ll create a much more efficient and lucrative sales pipeline.</p> <h3 dir="ltr">4. Connect with your warmest leads</h3> <p dir="ltr">Once you get further along in your conversations, you’ll have a better sense of which leads are the most promising.</p> <p dir="ltr">It’s now time to connect personally with each of your warmest leads. Offer to connect over a phone call or in person.</p> <p dir="ltr">By doing so, you’ll be able to directly address any potential questions/concerns while creating a deeper connection with each lead.</p> <p dir="ltr">If you’re lucky enough to generate many warm leads and haven’t done so already, you need to be <a href="https://econsultancy.com/blog/64545-what-is-crm-and-why-do-you-need-it/">utilizing a CRM</a> to track and manage these relationships.</p> <p dir="ltr">A CRM becomes increasingly important as the sales process progresses so it’s best you implement one early on.</p> <p dir="ltr">The right CRM will ensure that you are maximizing the conversion potential of your warmest leads. </p> <h3 dir="ltr">5. Don’t be afraid to use incentives</h3> <p dir="ltr">Now that you’ve established rapport with potential customers, it’s time to close the deal. Start by sending a follow-up reminder with the key benefits and solutions of your product/service.</p> <p dir="ltr">At this point, your lead should have all pertinent information about your product/service so keep it short, simple and to the point.</p> <p dir="ltr">If they’re still on the fence, try presenting them with a limited-time promotion to give them an immediate incentive to convert right then and there.</p> <p dir="ltr">Rather than dwelling on the lost revenue from the promotion, consider the potential lifetime value that customers can provide.</p> <h3>In conclusion...</h3> <p dir="ltr">Creating a scalable and repeatable sales process is a relatively straightforward endeavor but the true challenge is remembering to continually adapt your processes to the needs of your customers.</p> <p dir="ltr">When you have a clearly defined process in place, it becomes much easier to scale your sales team and keeps them focused on what they do best: close deals.</p> tag:econsultancy.com,2008:Report/4162 2016-06-21T11:05:00+01:00 2016-06-21T11:05:00+01:00 Digital Transformation in the Financial Services Sector <p>The <strong>Digital Transformation in the Financial Services Sector</strong> report looks at the challenges that companies within the sector are facing as they digitally transform themselves to compete in today’s changing market, seeking to understand best practice approaches, techniques and strategies that financial services companies are adopting to increase their chances of success.</p> <p>The report, which is an update on the 2015 research of the same name, aims to explore how marketers' responses to challenges have evolved and provide some updated recommendations on approaches to and opportunities related to digital transformation.</p> <h2>Methodology</h2> <p>We carried out a series of in-depth interviews with senior executives from across the financial services and insurance industries to understand how a range of organisations were responding to different opportunities and challenges.</p> <p>Companies interviewed included: Saga, MORETH&gt;N, RSA Insurance, LV, BlackRock, Alpha Financial Markets Consulting, Direct Line Group, The Co-operative Insurance, Barclays Bank, Lloyds Banking Group, Santander UK, Droplet, Nutmeg, AXA, JP Morgan Asset Management, Bibby Financial Services, Interactive Investor, Hargreaves Lansdown, Betterment and Scalable Capital.</p> <p>We also looked at sector-specific data from our <a href="https://econsultancy.com/reports/quarterly-digital-intelligence-briefing-2016-digital-trends/">Digital Trends 2016</a> and <a href="https://econsultancy.com/reports/digital-trends-in-the-financial-services-and-insurance-sector-2016">Digital Trends in the Financial Services and Insurance Sector</a> reports, both published this year.<br></p> <h2>What you'll learn</h2> <ul> <li>The financial services industry is facing challenges from new business models and new players entering these markets, changing the ecosystem and making these sectors ripe for digital transformation.</li> <li>Companies in the sector see investment in digital and related skills as critical to success.</li> <li>Customer experience is a major focus for marketers.</li> <li>Having the right strategy and culture to deliver digital transformation is seen as essential.</li> <li>Data is perceived as being a huge part of the digital transformation journey.</li> </ul> <h2>You'll discover findings around:</h2> <ul> <li>How companies are looking to differentiate the customer experience and deliver value to their customers.</li> <li>Ways in which companies are putting the customer at the centre of decision-making.</li> <li>Practices companies are adopting to work in a more agile way.</li> <li>Encouraging a digital culture where digital is promoted throughout the organisation and is a part of everyone's job.</li> <li>Importance of re-platforming and moving away from legacy systems to be able to deliver on ambitions. </li> <li>Integrating data to understand customer journeys and behaviour to deliver more personalised and relevant communications.</li> </ul> <p><strong>Download a copy of the report to learn more.</strong></p> <p>A <strong>free sample</strong> is available for those who want more detail about what is in the report.</p> <h2>How we can help you</h2> <h2 style="font-weight: normal; color: #3c3c3c;"><a style="color: #2976b2; text-decoration: none;" href="https://econsultancy.com/training/digital-transformation" target="_self"><img style="font-style: italic; height: auto; float: right;" src="https://assets.econsultancy.com/images/resized/0004/8296/rgb_dt_logo-blog-third.png" alt="Digital Transformation" width="200" height="66"></a></h2> <p><a title="Digital transformation - Econsultancy" href="https://econsultancy.com/training/digital-transformation/">Digital transformation</a> is a journey that's different for every organisation. To enable delivery of your digital vision (or help you shape that vision) we’ve designed a comprehensive approach to tackle your transformation.</p> <p>Covering everything from strategic operational issues, down to specific marketing functions, we will work with you to achieve digital excellence.</p> <p>Talk to us about an initial, no-cost consultation.</p> <p>Contact our Digital Transformation Team on <a href="mailto:transformation@econsultancy.com">transformation@econsultancy.com</a> or call</p> <ul> <li>EMEA: +44 (0)20 7269 1450</li> <li>APAC: +65 6809 2088</li> <li>Americas: +1 212 971-0630</li> </ul> <p style="color: #6b6b6b;"> <iframe src="https://www.youtube.com/embed/2q_lWLm5qtg?wmode=transparent" width="560" height="315"></iframe></p> <p style="color: #6b6b6b;">video by <a href="http://www.londonvideostories.com/" target="_blank">LondonVideoStories</a></p> tag:econsultancy.com,2008:BlogPost/67889 2016-05-31T11:16:00+01:00 2016-05-31T11:16:00+01:00 How Waitrose is using personalisation to increase conversions Nikki Gilliland <p>Waitrose, a supermarket well known for its middle class ‘essentials’, is attempting to change this attitude with a new focus on <a href="https://econsultancy.com/reports/website-personalisation-buyers-guide/">digital personalisation</a>.</p> <h3>Creating incentives</h3> <p>Last year the company delved into patterns of consumer behaviour, discovering that if a customer shops online five times, their loyalty is more likely to be retained long-term.</p> <p>Using this insight, Waitrose <a href="http://www.monetate.com/customers/case-studies/#ufh-i-222542547-waitrose">worked with Monetate</a> to roll out a campaign in order to ensure customers reached the milestone.</p> <p>Sending unique codes every time a new customer placed an order, it offered an £80 discount spread over five separate shops, encouraging shoppers to return time again.</p> <p>The incentive clearly proved too good to resist - Waitrose saw a 24% increase in orders from new and early stage customers thanks to the campaign.</p> <p><em>For more on this topic, read: <a href="https://econsultancy.com/blog/66049-customer-acquisition-among-online-grocers-what-s-on-offer/">Customer acquisition among online grocers: What’s on offer?</a></em></p> <p><img src="https://assets.econsultancy.com/images/0007/5385/waitrose.jpg" alt="" width="780" height="477"></p> <h3>Greater targeting</h3> <p>Money-off motivation has not been the only tactic used by Waitrose of late.  </p> <p>Last year, data from the ‘MyWaitrose’ loyalty cards was utilised to ramp up personalisation.</p> <p>During the run up to the Christmas period, the supermarket discovered which card-holders had purchased a turkey the year before. </p> <p>By offering a 20% discount to those who were yet to make the same purchase in 2015, Waitrose was able to target shoppers in a unique and personalised way.</p> <p>The company subsequently saw a 20% uplift in conversion, proving that this type of tailored message is a big hit with regular shoppers.</p> <p><img src="https://assets.econsultancy.com/images/0007/5384/MyWaitrose.PNG" alt="" width="667" height="706"></p> <h3>Empowering consumers</h3> <p>Another example of Waitrose using personalisation to great effect is last year's 'Pick Your Own Offers' Scheme.</p> <p>Available to MyWaitrose card holders, it allowed them to choose specific items to save money on.</p> <p>In signing up to the scheme, customers were able to pick ten items with 20% off for a limited time.</p> <p>With the double incentive of both savings and greater control, this is an excellent example of how to effectively empower the consumer as well as improve general perception of the brand.</p> <p><img src="https://assets.econsultancy.com/images/0007/5383/Pick_Your_Own_Offers.PNG" alt="" width="780" height="453"></p> <p>As well as building on its online efforts, a similarly personal customer experience is set to be created in-stores.</p> <p>Having recently announced a partnership with point-of-sale specialists Ecrebo, the supermarket plans to complement its MyWaitrose scheme with tailored offers at the checkout.</p> <p>By printing out coupons based on the contents of their basket, the customer will be offered instant and personalised rewards.</p> <p>So, what next for Waitrose?</p> <p>Now enjoying a <a href="http://www.ibtimes.co.uk/aldi-lidl-continue-grow-while-big-four-supermarkets-suffer-sales-downturn-1558180">period of increased growth</a>, for the moment at least, it appears this is one supermarket that customers are more than happy to return to.</p>