istrategy melbourne - redefining commerce in the age of the empowered consumer - steve wilkins, ibm
DESCRIPTION
This session will examine how today's hyper-aware consumer will continue to change the engagement approach of today's organisations. It will focus on the importance of meeting the needs of today's consumer and look at the key imperatives required by marketers to succeed in this ever changing environment by knowing your customer as an individual, creating value at every touch point and being an authentic brand and culture.TRANSCRIPT
Redefining Commerce in the Age of the Empowered Consumer
Presenter: Steve Wilkins, Vice President Marketing, IBM Growth Markets Region
THREE IMPERATIVES
An emerging point of view on the future practice of marketing
Part 1: The changing professionA glimpse of the future of marketing as illustrated by a recent article in The New York Times
Part 2: Introduction to the three imperativesA point of view on the new roles and responsibilities of the marketing function
Part 3: Deeper dive into the imperativesA closer look at the imperatives and what it takes to make it a reality.
Part 1: The changing profession
In February of 2012, The New York Times published an article that gave us a glimpse of the future practice of marketing.
Part 2: Introduction to thethree imperatives
As we look to the future role of marketing, we must remember the timeless responsibilities of the function.
The timeless responsibilities of our marketing profession
Marketers have always been responsible for knowing the customer.
Marketers have always been responsible for defining what to market, and how to market.
Marketers have always protected the brand promise.
The three imperatives of a new profession
Marketers have always been responsible for defining what to market, and how to market.
Marketers have always protected the brand promise.
Understanding each customer as an individual.
The three imperatives of a new profession
Creating a system of engagement that maximizes value creation at every touch.
Understanding each customer as an individual.
Marketers have always protected the brand promise.
The three imperatives of a new profession
Designing your culture and brand so they are authentically one.
Creating a system of engagement that maximizes value creation at every touch.
Understanding each customer as an individual.
Part 3: Deeper dive into thethree imperatives
Imperative 1: Understanding each customeras an individual
Let’s start with a story…
Have you ever felt that a company is
grouping you with a population thatyou don't relate to?
Individuals are demanding that we know them as more than a transaction, more than a demographic, more than a segment.
Imperative 1: Understanding each customer as an individual
The best brands are very strategic about which touchpoints get instrumented and what data about individuals emerges as a result.
Imperative 1: Understanding each customer as an individual
What is our instrumentation strategy to learn more about customers as individuals?
Transactions
Orders
Paymenthistory
Usage history
Purchase
stage
E-mail / Chat
Call center notes
Web click-
streamsIn-person dialogs
Opinions
Preferences
Desires
Needs
Characteristics
Demo-graphics
Attributes
Demographicdata
Transactiondata
Interactiondata
Behavioraldata
The great leap is into all the data that lies outside our enterprise—and into the new insights that data offers.
What is our strategy for attracting data from beyond our borders?
Imperative 1: Understanding each customer as an individual
Imperative 1: Understanding each customer as an individual
• Understand the complete customer experience
• Integrate digital behavior with traditional data sources
• Leverage customer insight in all parts of the business
‒ Leverage customer insight to increase department to department collaboration
‒ Leverage customer insight with partners,agencies and customer communities
• Listen to social conversations
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Imperative 2: Creating a system of engagement that maximizes value creation at every touch
Imperative 2: Creating a system of engagement that maximizes value creation at every touch
Offer
Network
Advice
Product
Knowledge
Companies that think systemically are able to provide the right offering at the right touchpoint—and to motivate greater engagement with a brand.
Imperative 2: Creating a system of engagement that maximizes value creation at every touch
• Create marketing so good that it feels like a service
• Scale and support millions of relevant offers
• Execute holistically based on standards-based suites and hybrid suites
• Introduce data syndication standards inside and outside the organization
Leverage systems of engagement to ensure relevant and positive customer experiences across all touch points that are aligned with
corporate character
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Imperative 2: Creating a system of engagement that maximizes value creation at every touch
Offer
Net-work
The most successful systems of engagement are defined broadly—they include products, but also expertise, new peers, connection and advice.
Knowledge
Product
Net-work
Product
What will we put into that system of engagement?
A system that drives competitive advantage is:• Individualized• Scalable• Inspiring for the future portfolio
Future portfolio of products, services, knowledge and experiences
Digital analytics Customer segmentation
Attribution modeling
Business intelligence
Customer predictive analytics
Which of these three points do we need to work on?
Imperative 2: Creating a system of engagement that maximizes value creation at every touch
Imperative 3: Designing your culture and brand so they are authentically one
THE TWEET THAT KILLED MY COMPANY
The three imperatives of a new profession
Designing your culture and brand so they are authentically one.
Creating a system of engagement that maximizes value creation at every touch.
Understanding each customer as an individual.
@stevewilkins_ibm.com/smartercommerce/au
Thank You