Making Customer Centric Marketing Real: Questions

After his brilliant speech, Pete took questions from the audience.  Maybe they're the same questions you're struggling with.  If not, ask your own in the comments.

Are customer centric metrics inconsistent with business metrics?  No.  Focusing on the customer is the best indicator of future purchase intent.

How does social marketing and UGC fit?  Marketers always had to be good to customers, and now they have new channels to work with.  Building relationships is always key.

What about customer centric P&Ls?  Organizational structure often hinders customer centricity.  Some organizations have created phantom P&Ls.

Who should we partner with to execute our customer centric strategy?  HR, IT, Finance, and the CEO!

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Making Customer Centric Marketing Real

Peter Kim addressed the Marketing Forum about how to make customer-centric marketing real.  To introduce the idea he connected Miami to Spring Break to Girls Gone Wild to Miami again to Senior Citizens to Hanging Chads to Al Gore to his film, An Inconvenient Truth, to the idea that his house consumes 10x more electricity than any other house in the city:  wanting to save the environment is easier than actually doing it.  Just like wanting to practice customer-centric marketing is difficult, too.  But it is super important:  customers have high expectations and social computing has shifted power to consumers.  Pete said that customer centricity is in the details.  His examples?  Wal-Mart's failures in blogging and social computing illustrate that customer centricity is easy to say and hard to do.  Three examples of marketers who practice customer centricity through metrics, culture, and technology: 

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Forrester Marketing Forum - Kick Off

The 2007 Forrester Marketing Forum officially kicked off this morning with opening remarks from Forrester Research Chairman and CEO, George F. Colony. To set the stage for the conference, George reviewed the six things he tells the CEOs he talks with:

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What's a Marketing Forum without. . .

. . . marketing?  Some early morning shots of our sponsor booths before attendees arrive:Sponsor_001Sponsor_002

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More than just a warm body

It's the day before our Marketing Forum. I came down to Miami early to sit in on Forrester's Direct Marketing Council meeting, and I was surprised by the different methods marketers use to find the analytics staff they need.  Their overall challenges?  Building a consistent definition of the customer, measuring campaigns and media mix (among other things), and justifying their actions to senior management. Companies look for a combination of skills in modern database marketers:  heavy data abilities and strong interpersonal skills.  That combination -- folks who know data and can translate the numbers and analysis into business language -- is rare. So where do companies find these yellow diamonds?  A few recruit from MBA programs with personal recommendations from academic connections.  Others take antithetical approaches:  some find folks with analytical prowess and develop their business acumen so they can use data strategically; others train skilled business people from outside of database marketing on modeling.  Talent is hard to find, but no official word on which recruitment approach works best.

Disney ARPU Isn ' t Kid Stuff

Disney Mobile released a few operating metrics. (See story from RCR Wireless) A couple of the big metrics missing were total subscribers and total ARPU. Impressive though were 44 percent of the subscribers are kids on their own plan at $25 per month and 30 percent using the tracking services. If that is 30 percent out of the 56 percent of adults, it's an impressive number at $13/month for the service. Our data show that few services rank higher than tracking a kid and controlling expenses.

Kids on their own "limited" plan tend to be younger - younger than 14 years. The tween market will be one of the hottest and fastest growing age categories according to our data. Looks like Disney is doing well with this younger segment. In his category, $25/month is better than $0 per month - what the majority of kids this age are generating in ARPU.

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