Sunday, 23 September 2012

Touchpoint Marketing Chapter 5: First Listen to your Customer, before even claiming to Delight him

Touchpoint Marketing: First Listen to your Customer, before even claiming to Delight him

This is the fifth part of a seven-part series on Touchpoint Marketing. Catch-up on the first, secondthird and fourth parts to know more about the thought process that has led to this ELATE Framework

Through your unique Brand Personality

One Brand, One Customer, One Experience


Improve retention by understanding and providing actionable insights about service breaks as they occur

It takes just one tenth of a marketing spend efforts to retain an existing company, right? So it’s time that organizations start growing this ‘easier to market’ share of current customers by understanding how to optimally increase customer engagement across Touchpoints. Be it via social media, direct mailers or one-to-one conversations, customer engagement needs to essentially start with “Your Issues first!” approach.
No customer wants to be sold ‘personalized equity advices’ when he is losing his cool on a mis-sold plan. It’s a marketing faux pas to be selling ULIPs to a customer who is well researched and is insisting on Traditional Life Plans.
One of the most important pieces of the customer ecosystem jigsaw is listening to the Voice of the Customer. You attract him, get him in the door, Engage him, Link-up with him, sign him on….and then move on to acquiring another customer?  Close of sale is not the end of it. It’s infact the beginning of a new relationship and that’s precisely where most of our marketing muscle should be focused on. Yes, in strict functional terms, customer concerns should sit under Operations, under Quality. However, it’s essential for Marketing to participate in these initiatives. If Marketing is the biggest stakeholder of costly Market Research exercises (studying attitudes and preferences of potential customers), why shouldn’t they be keen to hear the voices from their home turf as well? The attitudes, preferences and concerns of existing customers in their own backyard? As it goes, Get your House in order First!
 Listen to your heartbeat (existing customers) and Address them with a sense of urgency -
  • Improve the experience across the customer lifecycle and all touch points including online, in-store, mobile, social, and phone
  • Enhance product and service positioning with actionable insights from both surveys and unstructured feedback
  • Make loyalty and rewards programs more effective using customer preferences
  • Act on customer feedback to increase first-time sales, repeat business, and brand advocacy
  • Improve customer satisfaction and barriers to sales at key points across the customer lifecycle
  • PR and the public social media universe will play a big role in addressing existing customers. Companies should be prepared to manage consumer response, both on other social media sites and channels outside of social media.
  • Get head-on into Customer experience management. Build a Voice of the Customer strategy aligned with your key business goals.
    • Document customer interactions across segments and lifecycle stages (customer journey mapping).
    • Gain early insights on service breaks, emerging issues, customer sentiments and needs through all traditional and social Touchpoints.
    • Try to understand local, regional, and national feedback about your competition
    • Adapt to Text analytics and go about uncovering valuable insights. Create an infrastructure to analyze surveys, transactions, customer feedback, and other VOC data.
    • Analyze customer data by product, life cycle stage, line of business, and channel. Classify customer comments with strategic business context to increase relevance.
    • Analyze root causes to identify pain points that dissatisfy customers. Prioritize the factors that impact customer retention and loyalty.
    • Text analytics can be deployed to solve complex business challenges. Text mining enables you to unlock the value from surveys, call center notes, email, social media feedback, help desk tickets, and other sources of unstructured text data. Natural Language Processing (NLP) based analytic tools automatically capture the main ideas from customer comments. To identify key issues, a classification engine can sift through millions of documents to track the main ideas.
    • Showcase findings by exploring emerging issues, top themes, customer sentiment, and more.
    • Provide channels for brand advocates to recommend your services.
    • Deliver consistent and improved customer communications.
    • Train your team to interpret VOC results and take action.
To know more, continue reading the sixth part of this seven-part series here

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