Customer

Mohammad Anas Wahaj | 29 dec 2017

Marketing continuously evolves, and there is always something new for marketers to test, experiment and validate, and bring it to mainstream, whether it be ideas or technologies. Here are expert predictions for 2018 - (1) Zoe Burns-Shore (Head of Brand & Marketing, First Direct): 'Hopefully, more companies will start to realise digital marketing and marketing are one in the same, and the joy of all of that is seeing how everything works together, not in channel-led silos.' (2) Rachel Bristow (Director of Client Partnerships & Collaboration, Sky Media): 'It's no longer enough for brands to be passive about their brand identity as consumers are expecting more from the brands they engage with. Often this means taking a political viewpoint in order to be relevant and engaging...Although having a political voice can elevate a brand's purpose, it comes with a host of reputation risks which brands need to carefully consider. CSR also helps align a brand with a purpose while mitigating some of those reputation risks of being politically vocal.' (3) Harry Lang (Marketing Director at Online Sportsbook Pinnacle.com): '...I'm going with eSports...Now it's getting organised and brands are paying over the odds to jump on the bandwagon - the trend lines suggest it's only going to get bigger.' (4) Aedamar Howlett (Marketing Director, Coca-Cola Great Britain): 'We will add more choice and breadth to our portfolio...tap into macro consumer trends like healthy living, exotic flavours and on-the-go snacking...we will evolve the ways we communicate and engage our consumers. The trend for instant, real-time conversations and connections with brands will continue...also trialling chat bots and AI, as well as investing in editorial-style content-led media partnerships that tap into the mass appeal of social influencers to consumers...(there) is an evolution in the way marketers use and present data insights...(insights) will allow a more personalised, targeted approach for 2018.' (5) Craig Greenberg (Head of Strategic Planning & Insight, William Grant & Sons UK): 'As consumers are constantly bombarded with information across various channels, we will see more brands attempting to cut through the clutter to become memorable...it is brands that have a differentiator aligned with their brand heritage in a credible way that will win in the long term...consumers will seek brands that build on their identity, meaning a bigger push towards 'local' specificity in luxury brands...in a period of uncertainty, big brands may feel detached from a sense of place and strive to get closer to communities.' (6) Ben Rhodes (Group Marketing Director, Royal Mail): '...continued growth in retail ecommerce - and the associated need for more convenience and choice in delivery and return options...consumer trust in messaging received via physical mail to continue to grow, compared with digital channels.' Read on...

Marketing Week: What's in store for 2018? Marketers share their predictions
Author: Lucy Tesseras

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Mohammad Anas Wahaj | 25 dec 2017

According to a recent survey by Create, a new marketplace for health systems, local health networks best serve the needs of today's healthcare consumer. The survey took a detailed look at the preferences of individuals when selecting and receiving healthcare. It finds that 1/3rd have received care from more than one health system, or network of affiliated providers. Simeon Schindelman, CEO of Brighton Health Plan Solutions, says, 'This data uncovers that individuals are already taking their own steps to make their care more localized and personalized, but they aren't reaping the cost and quality benefits of such a network model. The survey also finds that there is a strong discrepancy between how loyal healthcare consumers feel they are to their primary care doctors, and how loyal they actually are. Mr. Schindelman and his team observed that 'our current healthcare system simply does not meet the needs and expectations of today's consumer...To enhance healthcare for everyone, we must move away from the current one-size-fits-all health plan, and instead listen to the needs of individuals across the country.' He explains, 'Managed care executives are responsible for managing cost, utilization and quality of care provided, while pursuing strategies for value-driven solutions. As such, hearing the preferences and expectations of today's healthcare consumer is at the center of performing those duties...this survey also uncovers a value-driven solution that has not been explored in the industry: plans that prioritize local, integrated healthcare systems.' Mr. Schindelman suggests - (1) Offer personalized plans. (2) Stop giving people benefits they don't need or use. (3) Explore new ways of lowering costs that don't compromise quality. Read on...

ModernMedicine: Three ways to make healthcare consumers happier
Author: Tracey Walker

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Mohammad Anas Wahaj | 23 nov 2017

Customer data is key for effective decision-making in marketing and advertising. Even though technology has provided tools to collect and analyze data, and obtain valuable insights, both brand marketers and agency buyers are unsure of the transparency and effectiveness of the data their partners are providing. According to the recent study, 'More Data, More Problems: Trust, transparency, and Targeting in 2017' by Bazaarvoice and Ad Age, more than 75% of survey respondents admitted they are not fully confident that the data they're utilizing is hitting consumers who are in-market to buy. Additionally, 65% of respondents claimed they do not fully understand the origin of their data sources. Here are 10 important questions that one should ask the advertising data provider before embarking on a marketing campaign and get the best value from it - (1) What are the sources of your data? (2) How far does your data reach? (3) What percentage of your data is created from a look-alike model? (4) Which intent signals or behaviors place a user into an audience segment? (5) How do you maintain your audience segments? (6) Can you explain the process behind how you define your audience segments - and the data that feeds into them? (7) In which categories does your data best perform, and why? (8) For which metric(s) does your data best perform, and why? (9) Can you reach the same user across their multiple devices? (10) Does your data drive brand consideration and/or sales, and can you accurately attribute the performance lift directly to your campaign? If so, how? Read on...

AdAge: 10 Questions You to Need to Ask Your Advertising Data Provider
Author: Toby McKenna

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Mohammad Anas Wahaj | 28 oct 2017

Over the years the dynamics of relationship between patients and healthcare providers have evolved into customers and healthcare businesses type. Rising cost of healthcare, multiple providers, privatization and technology are some important reasons for this transformation. Brad Dodge, President of Dodge Communications, and Andrew Pelosi, President of Partners & Simons, provide in detail what the patients as consumers of healthcare services expect from providers and how healthcare businesses can develop robust customer oriented strategies and fulfil the role of trusted partner in providing care services. They explain, 'Healthcare consumers have come to the realization that they have options. They don't have to settle for poor service, long wait times, limited hours, or confusing bills. Customer loyalty has to be earned - as in any other business. And consumers make it perfectly clear that if a provider can't deliver a better and more personalized experience, then they will switch to one that can. Moreover, the shift in mentality demands that providers be transparent and personal as much as possible. And from generation to generation, consumers are demanding clear communication and a trusted connection with their providers.' According to the Solutionreach Patient-Provider Relationship Study, 'The Ripple Effect Starts with Boomers', 43% of millennials are likely to switch practices in the next few years, 44% of Generation X are likely to switch primary care physicians in the three years and 20% of Baby Boomers are likely to switch in the next three years. Also, 70% of patients desire the ability to text the doctor's office, and 70% would like to receive text messages from their doctor, especially about appointments. Healthcare providers have to keep in mind expectations of these consumers and provide them personalized experience if they want long-term continuous relationships. Authors suggest - (1) Communication Drives Experience: 'The essence of creating a positive experience is making customers feel that they are heard and important — before, during, and after a transaction. Consistent, relevant communication between your company and customers is the answer to optimize that experience and engender trust. Honest communication with an emphasis on personalization builds the trust that all companies need to grow in this new information-driven, engagement economy.' (2) Entering the Engagement Economy: 'Consumers are demanding a more personalized relationship that requires a depth of knowledge of their wants, needs, and buying behaviors - and, ultimately, the best ways to engage them. Brands that succeed are the ones that manage engagement across the entire customer lifecycle. In most instances, the lifecycle and trust-building process starts very early in the customer's buying decision, even before they are considering a purchase.' (3) Who Are You Talking To: 'Creating a positive customer experience requires knowing your audience, engaging interpersonally, and meeting their needs. Answering those questions helps you develop an understanding that will be reflected in how you communicate with them across all channels, as well as what content you deliver. Also, organizations must be clear and concise; they must also offer up a valuable story; and they must be prepared to tweak that story as the marketplace changes.' (4) Focus on Delighting Customers: 'Focusing on ways to delight customers will go a long way in nurturing engagement and trust in your brand. Again, communicating and delivering valuable information to potential and existing customers can please them, especially when that information demonstrates an understanding of their pain points and goals.' (5) Harnessing Engagement: In an environment where trust is in short supply and customer engagement is spread across a broad digital ecosystem, companies must focus on their customers and on nurturing relationships through effective, relevant communication. Focusing on customer experience, needs, and preferences will not only enable brands to differentiate their products and services in a competitive market but also build the trust that results in loyalty.' Read on...

MarketingProfs: Engaging Customer Experiences Are a Make-or-Break Business Factor - The Case of Healthcare
Authors: Brad Dodge, Andrew Pelosi

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Mohammad Anas Wahaj | 23 oct 2017

To interact with customers, keep them connected and build long-term beneficial relationships is the goal of every business. But, achieving it is a challenge and takes a lot of planning and work. According to Cody Burch, founder of Red Anchor Marketing, far too many business owners are limiting themselves to one offering, and missing the bigger picture of what they can do to serve their target audiences. He suggests that businesses should focus on customer experience and offer them multiple products and services to choose from. Mr. Burch provides five steps to establish a complete customer journey - (1) Start with the ideal/ultimate solution that can be provided to people and gives best result. Find the price for this offering and set it as the benchmark. (2) Take a step down from the ideal and design an offering. Repeat the steps until you have an array of offerings from low-cost/low-touch to concierge-level service. Mr. Burch stresses that businesses need a variety of solutions at various price points. (3) Be clear on the transformation you provide. Make sure that the solution you offer is presented in a way your market intuitively understands and values. (4) Cross-sell (products related to and that will enhance your current offering) and upsell (an upgraded offering). Even after the first sale, continue to cross-promote your products and services. (5) Think about your customer experience as a competitive advantage. Mr. Burch says, 'No matter how big or small your business is, you can create a memorable customer journey, one that serves your market, highlights your brand, and makes it stand out from the competition.' Read on...

Huffington Post: Your Customer Journey - Five Steps to Business Success
Author: Lain Ehmann

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Mohammad Anas Wahaj | 21 oct 2017

Festive season brings attractive offerings from businesses to influence customers to buy more. Sometimes these offerings can be wrapped in unwanted and unreal freebies and discounts. Understand the following tricks to avoid overspending during festive seasons - (1) The unreal urgency: Sales and discounts happen all the year round. There is no need to rush. If you missed one, there will be another. (2) Useless freebies: Don't fall for unwanted free gifts. Direct price discounts on individual items are good alternatives. (3) The fear of loss: When proper research is done before purchase, the best deals can be found all the year round, not just during festive season. Look for the deal that is most suitable. (4) Big savings: The promise of big discounts can be unreal and may not be available at the time of buying. It may just be an advertising attraction with many conditions in the footnote. (5) The deceptive discounts: Deceptive discounts come with asterix. You might actually overspend then what you wanted to. Here are few suggestions to buy only what/when you want and need - (1) Prioritize (2) Postpone your purchase (3) Resist peer pressure (4) Don't shop to de-stress. Performing sufficient market research before the purchase is best to avoid traps and get most value. Read on...

The Economic Times: Festive season sales could be a trap - Here's how to find out
Author: Devansh Sharma

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Mohammad Anas Wahaj | 23 sep 2017

Team of researchers - Anatoli Colicev of Nazarbayev University (Kazakhstan), Ashwin Malshe of University of Texas at San Antonio (USA), Koen Pauwels of Northeastern University (USA) and Peter O'Connor of ESSEC Business School (France) - in their paper 'Improving Consumer Mind-Set Metrics and Shareholder Value through Social Media: The Different Roles of Owned and Earned' published in Journal of Marketing, describe the impact of social media on stock market performance via three consumer mindset metrics: brand awareness, purchase intent, and consumer satisfaction. According to the research all the social media posts are not created equal. Owned social media (OSM), i.e. company's own posts, is likely to increase brand awareness and customer satisfaction but not purchase intent. While earned social media (ESM), i.e. what consumers say about brands on social platforms, is even more valuable, potentially increasing all three consumer mindset metrics. Prof. Koen Pauwels says, 'Consumers look to their peers before making purchasing decisions, which is why earned social media is so valuable. Both investors and consumers distrust companies who boast about themselves, because it's hard to know what weaknesses they're trying to hide.' The researchers also found that consumer satisfaction and purchase intent are primary contributors to firm value. While higher consumer satisfaction was found to increase stock market returns, greater purchase intent was shown to both increase stock market returns and lower idiosyncratic risk - risk that is endemic to a particular stock and not a whole investment portfolio. The researchers used time series analysis to decipher the link between social media posts on various platforms consumer mindset metrics, and shareholder value. Prof. Pauwels suggests that research findings could assist marketers to develop more effective social media strategies. He says, '...marketers and social media managers should craft their OSM messages to target customers to improve brand awareness and customer satisfaction. Due to the value-relevance of customer satisfaction, OSM that is targeted toward helping customers post-purchase, addressing their concerns, and reinforcing their purchase decisions is much more valuable than OSM crafted to persuade customers to buy the firm's products.' The research also found that brands with high credibility (reputation) are far more likely than brands with low credibility to increase purchase intent with their own posts. Read on...

News @ Northeastern: When it comes to social media, consumers trust each other, not big brands
Author: Jason Kornwitz

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Mohammad Anas Wahaj | 16 sep 2017

E-commerce has disrupted traditional retail but at the same time pure-play e-commerce companies find it challenging to be profitable. Steve Dennis, strategic advisor, keynote speaker and founder of SageBerry Consulting, provides economic dynamics of e-commerce companies and analyzes the challenges to their road to profitability. He cites the case of e-commerce behemoth, Amazon, that accounts for 45% of US e-commerce and being in business for more than 20 years, still operates at below average industry margins. Some e-commerce companies are even investing to have physical retail presence. Regarding e-commerce among traditional retailers, Mr. Dennis says, '...it's clear that the e-commerce divisions of many major omni-channel retailers run at a loss - or at margins far below their brick & mortar operations.' According to him, increasingly high cost of acquiring (and retaining) customers online is one of the main dynamics that is an impediment to profitability. He explains, 'As it turns out, many online brands attract their first tranche of customers relatively inexpensively, through word of mouth or other low cost strategies. Where things start to get ugly is when these brands have to get more aggressive about finding new and somewhat different customers.' He provides three factors that lead to this - (1) Marketing costs start to escalate: To seek growth, advertising spend increases; Online platforms like Facebook, Google etc are utilized to gain broader audience. (2) More promotion, less attraction: Customers in the growth phase need more incentives, so gross margin on these incremental sales comes at a lower rate; Customers now expect discounts for future purchases, making them inherently less profitable than the initial core customers. (3) Questionable (or lousy) lifetime value: Customers that are acquired as the brand scales have lower incremental lifetime value, both because on average they spend less and because they are inherently more difficult to retain. Read on...

Forbes: Unsustainable Customer Acquisition Costs Make Much Of Ecommerce Profit Proof
Author: Steve Dennis

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Mohammad Anas Wahaj | 17 aug 2017

A research study by Strategy Analytics' AppOptix practice (AO) brings good news for B2B players as it finds that 50.4% of consumers use their personal smartphone for business purposes. Employees are using their personal smartphones to conduct business and installing public domain and company-sponsored apps for file sharing, data security, time sheets, expense reporting, and collaboration. B2B companies can identify these business users disguised as consumers to target their offerings. The study also found - 20.5% of business users utilize their personal smartphone over 50% of the time to conduct business; 20.8% of business users are compensated by their employer for their network/wireless operator charges. Author of the study, Prabhat Agarwal (Director, AppOptix), says, 'This research showcases and substantiates there are entry points for B2B players that are looking to offer business services to consumers...By analyzing combinations of apps, we can create probability profiles that identify likely users of business services.' Barry Gilbert (VP, Strategy Analytics), says, 'The business and enterprise user is a critical and lucrative market for mobile operators, device OEMs, and many enterprise software firms...' Read on...

Business Insider: 50.4% of Consumers Use Their Personal Smartphones to Conduct Business, Finds Strategy Analytics
Author: NA

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Mohammad Anas Wahaj | 31 jul 2017

2017 'Consumer Email Habits Report: What Do Your Customers Really Want', a study of 1003 online respondents commissioned by Campaign Monitor and conducted by Market Cube, finds that nonprofit email marketers are lagging behind peers, and the preferences of constituencies, in their ability to provide personalized, relevant messaging. 81% of consumers in the report want touches of personalization in emails they receive from nonprofits. In terms of relevancy of emails to supporters and potential supporters, nonprofits lag behind substantially with only 42% respondents stating that they regularly receive relevant emails. Andrea Wildt, chief marketing officer for Campaign Monitor, says, 'Email personalization can be based on either personal demographics or behavior - how an individual is interacting with an organization...personally relevant emails resonate better with recipients - building a trust that is sometimes hard to foster when recipients are bombarded with so many contacts from so many senders.' According to Ms. Wildt, 'Nonprofits struggle to provide personally relevant emails due to overall lack of ability to capture data and use that data to segment. Resources available to nonprofits are often far more modest than those of retailers.' Further complicating matters for nonprofits is the disparate ways various age groups interact with emailed material. Ms. Wildt suggests, 'Nonprofits must take a multi-pronged approach to marketing (using different tactics/strategies/technologies to target specific age groups)...They are just not quite as mature at leveraging some of the technology. There is so much noise that nonprofits really need help cutting through. The competition for donors' wallets is still fierce.' Read on...

The NonProfit Times: Marketers Not Giving Consumers What They Want
Author: Andy Segedin

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