making marketing thrive in the age of the customer by sheryl pattek
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From the MarTech Conference in Boston, Massachusetts, August 19-20, 2014. SESSION: Making Marketing Thrive in the Age of the Customer. PRESENTATION: Making Marketing Thrive in the Age of the Customer - Given by Sheryl Pattek, @sherylpattek - VP & Principal Analyst, Forrester ResearchTRANSCRIPT
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Make Marketing Thrive In
The Age Of The Customer
Sheryl Pattek, Vice President, Principal Analyst
Serving Chief Marketing Officers
Twitter: @sherylpattek
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Source: Marcio Kenobi Blog (http://marciokenobi.wordpress.com/), The NYC Chapter of the American Guild of Organists
(http://www.nycago.org/), and BuzzFeed (http://www.buzzfeed.com/)
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Source: Alliance Technologies (http://www.alliancetechnologiesllc.com/)
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Agenda
› The world is changing: get customer obsessed
› What it means
› Evolving marketing to respond
› Recommendations
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Agenda
› The world is changing: get customer obsessed
› What it means
› Evolving marketing to respond
› Recommendations
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The world of marketing channels today
Source: July 22, 2013, “Mix Art And Science For Marketing Success” Forrester report
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The mobile mind shift The expectation that any
desired information or service
is available, on any appropriate
device, in context, at your
moment of need
At the same time, customers expect new
levels of mobile engagement
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Empowered customers now choose their route to you
Information scarcity
Attention abundance
Attention fatigue
Information overload
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Agenda
› The world is changing: get customer obsessed
› What it means
› Evolving marketing to respond
› Recommendations
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A 20-year business cycle in which the most successful enterprises will
reinvent themselves to systematically understand and serve increasingly
powerful customers
We’ve entered the age of the customer
Transform
the customer
experience
Embrace
the mobile
mind shift
Become
a digital
disruptor
Age of the
Customer
Build value around the customer,
not the channel or product
Turn big data
into business
insights
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Transform the customer experience ALIGN THE BRAND AND CUSTOMER EXPERIENCE
Our view: The brand experience and the
customer experience must tell the same
story.
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Become a digital disruptor RETHINK THE FOUNDATION OF THE BUSINESS AND ITS LINK TO CUSTOMERS
Our view: Digital businesses open the doors to
new business models and partnerships.
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Disruption isn’t new . . .
. . . but mobile makes it matter more than ever today.
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Embrace the mobile mind shift
Our view: Mobile represents a big change in the way consumer
expectations are set.
APPEAL TO THE MOBILE-FIRST INDIVIDUAL
Simplicity
Context
Immediacy
Convenience
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Mobile is the new face of engagement.
› Every interaction a customer has
with your brand is a customer
experience
› Winning in the mobile moments
throughout the journey will be key
to elevating your brand and your
customer experience
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Turn big data into business insights MINE THE INSIGHTS THAT DRIVE BUSINESS SUCCESS
Our view: Data can unlock the value that companies need to prosper and
enhance customer engagement.
Starbuck’s digs deep
into customer behavior
to increase customer
wallet share.
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Agenda
› The world is changing: get customer obsessed
› What it means
› Evolving marketing to respond
› Recommendations
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Become customer obsessed:
A customer-obsessed enterprise focuses its
strategy, its energy, and its budget on
processes that enhance knowledge of and
engagement with customers and prioritizes
these over maintaining traditional competitive
barriers.
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Use the customer life cycle as the
blueprint for customer obsession
The enterprise’s view of
the phases a customer
passes through in the
course of an ongoing
relationship with a
company
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Customers’ needs get defined throughout the customer life cycle
May 2014 “Rethink Marketing In The Customer’s Context”
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The journey to customer obsession requires focus on three key areas
Align the organization to the customer
Build the right marketing technology
infrastructure
#1
#2
Collaborate with the CIO’s team #3
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Overall organization performance must now
be aligned to the customer
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Marketing organizational must shift from channel-centric to customer centric
58% of CMOs say their current org structure hinders their ability to adapt to today's marketing environment.
Source: Q3 2013 Forrester/ Heidrick & Struggles Evolved CMO Global Online Survey
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Adopt a marketing operating system approach instead
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Best practices leading the pact
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Connect and differentiate brand
experiences.
Deliver insight-driven customer
engagement across the full life cycle.
Marketing needs technology and
data insights to run.
27
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CMOs believe technology has business impact
Source: Q3 2013 Forrester/ Heidrick & Struggles Evolved CMO Global Online Survey
“How important do you believe marketing technology will be in delivering your marketing
objectives” (please select one response)
0%
23%
32%
45%
It should play a minimal role
It plays a role as part of abroader marketing mix
It is critical to creatingactionable insights from big
data
It is essential to businessgrowth and customer
engagement
Base: 214 Global Marketing Leaders
CMOs do
think tech is
necessary to
meet their
objectives.
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It’s time to align technology investments to support the full customer life cycle
July 2014 “Top Technologies For Your BT Agenda”
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Your marketing technology stack must engage customers in the right context
June 2014 “Let’s Revisit The Enterprise Marketing Software Landscape (Again)”
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Data is the new oil…it must serve as the foundation for today’s marketing engines
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End-to-end engagement measures must be optimized and acted on
March 2014 “Define New Metrics For Digital Business Success”
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Base: 214 Global Marketing Leaders
Source: Q3 2013 Forrester/Heidrick & Struggles Evolved CMO Global Online Survey
But, a single view of the customer is not yet commonplace
Realize that competitiveadvantage comesfrom a singular focuson the customer
73%They have accessto some systems,but not all of themare synchronized
50%
Everyone has the samesynchronized view ofthe customer
18%
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CMOs recognize that working with the CIO is important
Base: 214 global marketing leaders; Source: Q3 2013 Forrester/Heidrick & Struggles Evolved CMO Global Online
*Base: 191 global marketing leaders; *Source: Q3 2011 Forrester/Heidrick & Struggles Evolved CMO Global Online
Survey
Percent of CMOs who value theCIO as important has risen
from 30% in 2011* to 51% in 2013
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Base: 214 Global Marketing Leaders
Source: Q3 2013 Forrester/Heidrick & Struggles Evolved CMO Global Online Survey
And, they see the CIO as a partner for meeting goals
41%Share a common vision of howmarketing and IT should worktogether
Partner, when procuringmarketing technology
Agree the CIO is astrategic partner in meetingcorporate goals
29%
62%
(multiple responses accepted)
41%Share a common vision of howmarketing and IT should worktogether
Partner, when procuringmarketing technology
Agree the CIO is astrategic partner in meetingcorporate goals
29%
62%
(multiple responses accepted)
41%Share a common vision of howmarketing and IT should worktogether
Partner, when procuringmarketing technology
Agree the CIO is astrategic partner in meetingcorporate goals
29%
62%
(multiple responses accepted)
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But, marketers still vie for enterprise technology dollars
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And, surprisingly, CMOs are still not that involved in marketing technology decisions
Base: 214 Global Marketing Leaders
Source: Q3 2013 Forrester/Heidrick & Struggles Evolved CMO Global Online Survey
View marketing technologyas essential
Attend vendor presentations,evaluate different technology providers, and
help choose final partners or potential partners
Lead a cross-functionalteam from IT and marketing to identify keytechnology needs and develop a process
for selecting vendors
45%
33%
25%
View marketing technologyas essential
Attend vendor presentations,evaluate different technology providers, and
help choose final partners or potential partners
Lead a cross-functionalteam from IT and marketing to identify keytechnology needs and develop a process
for selecting vendors
45%
33%
25%
View marketing technologyas essential
Attend vendor presentations,evaluate different technology providers, and
help choose final partners or potential partners
Lead a cross-functionalteam from IT and marketing to identify keytechnology needs and develop a process
for selecting vendors
45%
33%
25%
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Agenda
› The world is changing: get customer obsessed
› What it means
› Evolve your business to respond
› Embrace the mobile mind shift
› Recommendations
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View the age of the customer as an opportunity to lead
Our view: Marketing represents the customer view of the
company. This is the time to lead the organization, not follow it.
To succeed, you must:
• Recognize the impact of technology and data on the
fundamentals of their customers and their business
• Take charge of the strategies that embrace these
changes
• Lead the organization on the journey to customer
obsession
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Build your technology strategy to achieve three key objectives
› Develop a rich understanding of customer
behavior by using data and analytics
› Design exceptional customer experiences at
each touchpoint
› Capitalize on the right technology to effectively
and efficiently provide and then understand
experiences
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41
When companies internalize
technology, they find
disruptive new things to do”
“When companies adopt
technology, they do old
things in new ways;
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Strategy
• Digital marketing
• Vision
• Buyer’s needs
• CIO alignment
Process
• Process documented
• Buyer journey maps
• Consistent experience
Technology
• Understanding
• Bias/approach
• Access to expertise
Measurement
• KPI’s in place
• Measure ROI
• Dashboards
Asses your organization’s readiness with Forrester’s marketing technology skill assessment
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Get customer-obsessed!
› The customer has changed. Forever. Get used to higher expectations from them.
› The age of the customer will force you to rethink how you win, serve, and retain these empowered customers.
› Recognize the impact of technology on the fundamentals of your customers and your business
› As marketing technology leaders, you must champion customer obsession throughout the organization.
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What this means to you
› You are positioned to help
CMOs build the technology
strategy necessary to
effectively engage customers
› And…you have the skills and
expertise to light the path to
customer obsession
› It’s up to you to capitalize on
the leadership opportunity
ahead
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Thank you
Sheryl Pattek
+1 212.857.0707
Twitter: @sherylpattek
Blog: blogs.forrester.com/sheryl_pattek