Saturday, 29 September 2012

Touchpoint Marketing Chapter 7: Entrenching Committed Customers through the ELATEd Customer Experience

Touchpoint Marketing: Entrenching Committed Customers through the ELATEd Customer Experience

This is the conclusive part of a seven-part series on Touchpoint Marketing. Catch-up on the first, second, third, fourth , fifth and sixth 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
Know You Customer, and not just his finances!


Multiply favorable customer experiences

Having now taken the entire long and committed route of Engaging, Linking-Up, Addressing and Tracking your customers across Touchpoints, it is but obvious for you to leverage the wealth of experience and more importantly the data collected along the way. It’s here that the magic of Predictive Analytics and paves way for you to replicate and multiply your Touchpoint success.
There could be an entire battery of profitable business strategies through hawk-eye and creative data mining and advanced analytics (on your Touchpoint data) -
  • Increase sales by understanding and acting  on buying patterns.
  • Increase the ROI from customer relationship management by targeting the right offer, to the right customers, at the right time.
  • Build profitable new business models, like subscriptions for digital content.
  • Reduce churn and boost retention with data-driven strategies to maximize profit.
Predictive analytics solutions could help companies solve a range of business problems, such as:
Acquisition:  Who is most likely to subscribe in the next week?
Churn and attrition:  How likely is this customer to leave us in the next 30 days?
Segmentation and pricing:  Will this segment buy more if we lower the price?
Relationship management:  Should we assign a dedicated sales rep or sell to this customer from a contact center?
Leverage your social media presence to meet key business objectives and drive customer advocacy
  • Adapt your marketing and sales strategies to the evolving landscape of social business
  • Develop metrics to benchmark your efforts and guide content strategy
  • Multiply favorable customer experiences through a much larger base of general Twitter and Facebook users, as well as through third-party user community websites.

To sum it up, Touchpoint Marketing is no revolutionary concept or yet another marketing jargon to herald a new phenomenon in today’s hyperactive times. In fact, it’s the return to good old concept of ‘Customer is King’ and trying to bring him back, right in the centre of marketing ecosystem. Every day, every moment multiple brands are touching him through multiple Touchpoints. But how many of them are really touching him? And how many are merely just another channel of grabbing his already spread too thin attention?
Touchpoint Marketing intends to develop a focused 360-degree plan that ELATEs this customer by -
·         Mapping the customer experience lifecycle across Touchpoints.
·         Build a holistic customer experience strategy by integrating social media with internal customer data and syndicated sources.
·         Develop a strategic plan and tactical blueprint to prioritize and act on insights.
·         Apply predictive analytics to social media findings to drive marketing opportunities.
·         Engage him, Link up his experiences, Address his concerns, Track his journey and Entrench him…or rather get our Brands entrenched to his ecosystem!
Its time, the organizations adapt to Touchpoint Marketing and keep in touch with their dynamically changing, highly aware and aggressively seduced customers.  It’s time, we actually Touch our customers, the Touchpoint Marketing way!

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