Within 2018 alone, the AI industry has seen a 70% growth. Which is why it's no surprise that AI conferences have become the central hub for connecting industry insiders. If you're looking to get a leg up in your AI business, it's important to know which conferences to attend.Read More
Despite our best efforts over the last 50 years to create the perfect service design blueprint, things are still a little cray. This all got a little worse about 5 years ago when CX reared it's head and introduced the customer journey into the Kaizen, LEAN manufacturing ecosystem that had been finally streamlined and grown into a mature practice of "Service Design".
Flash forward to today where it's not enough for the CFO and COO to have the nexus of data that runs the organization. Now we have to incorporate the CTO and CMO. All of these Silos have to talk transparently to each other. The problem? They all speak different data languages.
At Service Design Week 2018, Advisory Board Member Dennis Wakabayashi broke opened the door to a whole new era of C-Suite Centricity where AI and Machine Learning tools will rapidly unite the C-Suite visibility into customer behavior as a single unified view of the business and the customer at scale. Essentially introducing a harmony of demand and supply at scale using AI Tools.
Although AI and Machine learning will do the data crunching that humans cannot, the real barrier is still HUMAN CENTERED and requires savvy design professionals, evangelists and practitioners to make Centricity and asset for your business.
If you want to kick start your CX/Service Design transformation. Integer Group has more info and a scheduling app at: https://www.21chickens.com/ that can help you get going in the right direction.
What do you think are the most important challenges facing organizations today as they transform into human centered, customer centric and data driven organizations? Please leave your thoughts in the comments below.
Marketers, Ad Agencies, and Consultancies who fundamentally understand A.I. are incorporating customer feedback loops throughout the customer journey. Every touchpoint feeds the system with information that pushes brands and customers closer together in ways that are relevant and valuable.Read More
Break the content code:
As if it wasn't challenging enough with all of the channels available to marketers today, knowing the difference between always on / evergreen content and promotional content is even more complicated. Let's see if we can make this a bit easier for you.
Four basic things to keep in mind:
1) Always on content uses CADENCE to earn your brand higher rankings in search engines and as such scores better with consumers in terms of relevancy. The reason it works is because a regular cadence of content triggers the internet algorithms to recognize and track the content you're publishing. The key here is CADENCE. The more consistently and more frequently your publish - the better.
2) Promotional or campaign content uses a burst of impressions or "reach" to trigger engagement with targeted consumers. This technique requires high media spend to cut through the clutter and can be perceived as unwanted by consumers if they're not targeted properly. The most important thing to understand here, is that, you need to have a "lead capture" mechanism associated with promotional campaigns to capture email or phone numbers. By capturing the email or phone number you are able to drastically improve future campaigns as well as leverage these identified consumers in future campaigns without the high cost of direct acquisition
3) A combination of Always On and Promotional content using a consistent cadence will give you the best strategic position throughout the year when it comes to reaching your brand's most important audiences. In order to win against competitors during battle ground time periods you'll need to, either out spend them or else out think them using Evergreen content.
4) Evergreen content is the strongest asset of your content strategy. The reason it works is because you can republish this content every year and only pay for it once. The more consistently you develop evergreen content and consistently publish it within your annual cadence - the more difficult it will become for competitors to own a higher share of voice than your brand. This strategy presents dual benefits. The first benefit is presents lower costs for you to own the higher share of voice over time and the second benefit is that it increases the cost for your competitors every year to engage with the same consumers.
This diagram shows you the 5 most important aspects of creating and managing customer lifetime value (CLTV).
Here's how you use them to be successful and what to watch out for:
1) Undecided customers:
These people are often referred to as very "top of the funnel". They may find you by search or other organic means. They are the widest audience and contain mostly unqualified leads. They are expensive to convert and represent the most difficult group work with to develop lifetime value.
2) Targeted consumers:
Big data, little data, heck...any data, can help you quickly identify patterns in your existing consumers or social media followers to create a profile or "look alike" profile that creates a smart target to start driving engagement from people who want to connect with what brands have to offer. If you're looking for a big data solution then Datalogix is a great place to start and if your looking for something a little more mainstream then FullContact is good group to consider.
3) Potential customers:
Sales teams and B2Bers like to call these folks "qualified leads". Regardless of what you call them, they are the group with the highest rate of conversion and represent the best lifetime value. The best way to find and engage with these audiences is through standardized social media acquisition programs from groups like Wayin , HelloWorld or PrizeLogic.
4) Acquired customers:
If you've done your work right and been savvy about capturing these golden opportunities, then you've paid about $1 per lead. From here you'll want to cultivate an annual calendar of smart, consistent content that is delivered in a consistent cadence and provides relentless value. Fail to do this, and you're CLTV will suffer - and so will your ROI. The best ways to manage this situation is with something from Oracle like Eloqua or Responsys Working with an alternative CRM than Oracle? Fear not. Salesforce and Exact Target teamed up to offer the same solutions. Adobe is not far behind with their integration of the old Neolane system.
5) Archived customers:
This is where it gets tricky. Remember those customers that cost $1.00 to acquire? It's now costing you $1.00 per year to carry them and you're 1MM acquired customers is feeling like a heavy weight line item on your marketing budget. That's why we have to measure the "lifetime value". Not every customer is equal and you'll want to archive any CRM/Customer records that are not producing significant annual ROI. Simply put, you want to keep the best customers and optimize their experiences so that they purchase regularly and you want to stop spending marketing dollars on customers who don't want a relationship with you.
Easy Right? Maybe not. If you have questions. Drop me a note. I'm happy to help.