By now, we know that attribution is essentially the answer to many marketers’ prayers: more accurate performance metrics, better cross channel insights, and a more informed marketing spend. While the benefits to attribution are clear, many CI pros and marketers still need to make the case for attribution. They need funding, and support from their executives. In light of this aversion to investing in attribution, the recent business case report, Measure the Impact of Cross-Channel Attribution, will help CI pros build the business case you need to convince executives that implementing cross-channel attribution is definitely worth the time, effort, and money. As you follow our guide to building the business case, you will cover all necessary bases by laying out the costs and benefits of attribution, while also planning for any possible risks you may run into along the way.
Taxi-hailing apps like US-based Uber and UK-based Hailo are gaining momentum globally. As with other segments of the Internet industry, the taxi-hailing app market in China is also mainly about local players. After rounds of fierce price battles earlier this year, two players — Didi Dache and Kuaidi Dache — continue to dominate the market and leave no room for smaller competitors and newcomers. This battle wasn’t just between two niche apps; it was also a struggle between two Internet giants’ mobile payment services: Tencent’s WeChat Payment (for Didi) and Alibaba’s Alipay (for Kuaidi).
Price wars may be an effective way to acquire new customers. For example, Didi went from 22 million to 100 million users in just 77 days by spending RMB 1.4 billion (about US$225 million). That’s less than $3 per new customer. However, it’s a poor strategy to gain customer loyalty. For months, users have switched back and forth between apps simply because of slim (and temporary) price differences. Only recently have Didi and Kuaidi begun to take different approaches to engendering customer loyalty:
Kuaidi adopted a loyalty rewards program in cooperation with marketers and eCommerce platforms. Based on the number of rides they complete in a given quarter, Kuaidi divides customers into five loyalty categories: Normal, Silver, Gold, Diamond, and Ultimate. Customers earn different numbers of points for each completed transaction, depending on their level. They can use these points to purchase coupons — either Kuaidi Coupons, good for a discount on their next taxi fare, or other coupons provided by marketers and eCommerce platforms such as benlai.com.
It’s NBA finals time, and for the fourth year in a row, my Miami Heat are playing for the championship. While the big three (James, Wade, and Bosh) are extremely talented, it takes more than just the talent of these superstars to deliver the third championship in a row. To cement the Heat’s legacy and put the team in the position to claim another title as the best ever, the Heat has surrounded the big three with the right roles, staffed with the right role players. These role players on the Miami Heat know what’s expected of them and recognize the vital part they play in the Heat’s success. It’s Ray Allen hitting a 3 when he’s called upon or Birdman blocking a critical shot to keep Miami’s lead. Each member of the Miami Heat understands that while the big-three superstars may ultimately make the difference, it’s really the way the entire system works together that propels the team to victory time and time again.
And while this may surprise you, for your marketing team, it’s no different. Without a doubt, you have your superstars that go the extra mile to rev up your marketing engine. But do you have the right role players to help your marketing operating system work well as a unit? Do they know what’s expected of them? Do you know what role players you need and what to look for when you hire them?
My colleague Ted Schadler explained here how Apple's iOS 8 focuses on developers building new mobile moments.
Once again, Apple increases the value of its ecosystem and will create more stickiness and loyalty by enabling developers and marketers to build new app experiences. The first building block to tap into the new opportunities that wearables and connected objects are opening up is to create a service ecosystem. That’s the reason we haven't heard any product announcements yesterday.
From a marketing standpoint, Apple introduced some new App Store features for developers, like app previews and app bundles. Marketers will be able to let users buy multiple games or apps at once and for a discounted price. App listings can now include feature video demonstrations to showcase the value of your app. The new “Explore” tab - including the trending topics and the vertical scrolling - will also facilitate app discovery.
However, in comparison with the great iOS differentiated innovations announced to create new app experiences (e.g., HealthKit, HomeKit, Swift, TouchID, and open APIs), Apple mostly implemented incremental changes to its App Store marketing. Most marketers sill complain about Apple’s black box and the lack of transparency about Apple App Store’s ranking algorithm and ratings and review systems.
As Marshall McLuhan once said, “Most of our assumptions have outlived their uselessness.” This has never been truer than now, and we have customer data to thank for it.
While data has always played a role in experience design, the digitization of customer experiences — both online and in physical environments — has greatly expanded the depth and breadth of customer data available. As a result, the way CX pros use data is undergoing a significant change. Rather than be passive recipients of data reports, CX pros are becoming active data miners and explorers.
The effect of this exploration is that CX pros, empowered with data that they now have direct access to, are challenging long-held orthodoxy, assumptions, and conventions. Consider the following:
CNN tunes its coverage to consumers' tastes . . . to the displeasure of critics. While critics may heap scorn on CNN for its extended coverage of Malaysia Airline Flight 370, the numbers tell a different story. After crunching the data, CNN concluded that viewers were not tiring of MH370 coverage. In fact, the analysis indicated that viewers wanted more of it. This led CNN to extend the coverage well beyond what CNN producers (and other network producers) intuitively assign to such an event. The call paid off as consumers continued to tune in, helping CNN boost its viewership.
This morning when I woke up, one of the first things I did was pick up my iPhone. It’s increasingly part of my morning ritual – whether its checking the weather app for the day’s forecast or using the Starbucks app to pay for my morning coffee on the way to work. And I am not the only one. Forrester forecasts that European online retail sales will increasingly come from sales completed on mobile devices like smartphones and tablets.
Consumers and marketers don't always see eye to eye when it comes to customer loyalty programs. Consumers tell us they enroll in programs for the points, discounts, and savings, while companies tell us boosting customer engagement is a top goal for their loyalty programs. Sixty-seven percent of consumers consider themselves active in programs they join, yet the marketers who run loyalty programs report that only 16% of customers are active program participants. Regardless of which camp you fall into, one thing is clear: a program is only as strong as the members who participate in it. And, the value exchange a program creates is central to attracting members today and getting them to come back tomorrow, next month, and next year.
But, choosing program benefits can create some anxiety. Marketers need a mix of rewards that satisfies consumers' desire for savings while encouraging deeper engagement, and acknowledging/recognizing customer value. Forrester clients often ask me questions like "What can we offer besides points?," and "How do we make customers feel valued?." The short answer is that there are a lot of options that have varying objectives for the customer:
Globally, consumers will own more than six billion mobile phones by the end of 2014, and about two billion of them will be smartphones. With this penetration comes the mobile mind shift - the expectation to be able to access any information or service on the mobile device, in the moment of need.
What’s more, consumers reach for their mobile phones 100 to 200 times a day. In these mobile moments, they expect companies to understand their context and offer relevancy as well as both curated and streamlined experiences on mobile devices. They want to see if their children are home from school, buy coffee, access coupons, check in for a flight, check stock prices, use Skype to call Singapore, and play Candy Crush. Enterprises must learn how to, and then serve, customers in these mobile moments. Otherwise, they will lose – an entrepreneur like Uber’s Travis Kalanick will disrupt their business just like he did with taxis.
Mobile moments extend all of the way through the customer’s journey.
But while mobile has definitively become the most important digital platform for most companies to engage with their customers, too few enterprises have embraced this opportunity. Too many view the mobile phone as simply a smaller screen or another channel.
Only a few businesses, like Starbucks, have been able to curate and own mobile moments with their customers. More than 10 million customers engage with the coffee chain each week through its mobile payment app. Starbucks owns what we call Loyalty Mobile Moments. For them and others like Citibank, USAA, and United Airlines, they must strive to excel in those moments of truth.
In her recent report, my colleague Reineke Reitsma revealed that European consumers interact with a diverse suite of social networking sites, with Facebook and YouTube leading in terms of consumer engagement. Pinterest, however, is an outlier: European consumers demonstrate minimal interaction with Pinterest compared with both other social media sites and their US peers. According to Forrester’s Consumer Technographics® data, 18% of US online adults regularly visit the website but only 2% of European online adults across the UK, France, Germany, Italy, and Spain visit Pinterest once a month or more:
Sure, Steve was responsible for the development of new trading tools and technology enhancements for the thinkorswim trading platform. And he does an incredible job of connecting customer experience improvements to technology innovation (as you’ll see if you read on).
No, we recruited Steve because TD Ameritrade shot up seven points in our Customer Experience Index this year, edging ahead of last year’s leader in the investment category, the formidable Vanguard. How it did that and why it did that is a story we want customer experience aficionados to hear.
In the run-up to the event, Steve answered a series of our questions about some of things he’ll talk about. His answers appear below.
I hope you enjoy his insights, and I look forward to seeing many of you in New York on June 24th and 25th!
Q: When did your company first begin focusing on customer experience? Why?