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

Engage

Through your unique Brand Personality

Link

One Brand, One Customer, One Experience

Address

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

 

Track

Know You Customer, and not just his finances!

Entrench

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.

Conclusion

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!

Touchpoint Marketing Chapter 6: Tracking the Customer Journey

Touchpoint Marketing: Tracking the Customer Journey through the ELATE framework

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

Engage

Through your unique Brand Personality

Link

One Brand, One Customer, One Experience

Address

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

  

Track

Know You Customer, and not just his finances!

Many marketers launch, manage and measure marketing efforts in silos or “swim lanes”: “I sent out X mailers, and got Y response/results.” Those results are measured against other direct mail campaigns, but never truly correlated with parallel marketing efforts across other channels; at best, a senior manager may review the overall results and make rough calculations. Like swimmers, marketers are furiously paddling with their heads down in their own lanes.

Touchpoint Marketing is all about looking at the powerful new “holistic models” that look and measure activities across all of the swim lanes. Or rather, how are all the Touchpoints collectively Linking into the ‘Customer Experience’ scheme of things.

Brands need to invest in complete holistic views of their customer ecosystem. Swim lanes and piecemeal marketing approaches will no longer work as companies demand more program accountability and results. But this is only part of a much broader drive for a complete holistic view of the customer ecosystem. Many factors affect marketing, such as distribution, sales calls, and innovation to just name three. Strong performance in these areas will naturally help your marketing efforts. Your brand overall has an enormous impact on your marketing (Apple is a premier example). Yet companies have done a poor job in calculating these as part of their marketing model. This needs to witness a complete and rapid overhaul. Companies should increasingly be able to identify these key drivers and allocate funds accordingly. They should be able to evaluate exactly how much affect customer service, for one, has on marketing success. If it’s large, they might decide to allocate funds now being funneled into marketing programs, into the customer experience and drive new business with existing customers. 

Increase new customer acquisition by leveraging social media to increase awareness and educate consumers about the brand.

We could also call this the “big pool” approach. Like Brand health tracking surveys, the approach intends to put money to our‘Customer-centric’ claims by virtue of Customer Health Tracks. With their eye on the total pool or picture, marketers will have a better grasp on which activities (across Touchpoints) are contributing the most, which are killing my customers and how they interrelate.

This will allow them to shift (and better target) budgets as needed, effectively directing funds to Touchpoints so that all are contributing more equally, and not a single of them are eroding my Brand persona.

Diligent tracking and churning of Social Media Customer Insights will always add to this picture -

• Who is engaging with your brand? (Social media influencers)
• What are they saying about you? (Top themes, emerging issues)
• Why are they interacting with your company? (Value propositions from the customer’s point of view)

To know more, continue reading the conclusive part of this seven-part series here

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, second, third and fourth parts to know more about the thought process that has led to this ELATE Framework

Engage

Through your unique Brand Personality

Link

One Brand, One Customer, One Experience

Address

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.

Collect

• 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

• 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.

Action

• 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

Touchpoint Marketing Chapter 4: Introducing the Touchpoint Marketing ELATE Framework

Introducing the Touchpoint Marketing ELATE Framework

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

Touchpoint Marketing is all about having a disciplined, focused and passionate 5-point strategy abbreviated as the E.L.A.T.E. strategy. And what better abbreviation? Eventually, beyond all the 4Ps and 5Cs of Marketing, isn’t it all about ELATE-ing the only C that really matters? – the Customer!

Here’s finally unlocking the manuscript of this tightly inter-locked Touchpoint Marketing strategy of ELATE.

Engage

Through your unique Brand Personality

Ensure that all the customer Touchpoints right from your service kiosks, bank counters, relationship managers, showroom sales staff, delivery staff to your helpdesks, website, ATMs, after sales, customer service execs and complaint & grievance cells  are talking to same language.  All your brand imagery and messaging needs to be deeply entrenched across your Touchpoints. It needs to come across strongly in not just your communication, but more importantly in the customer interactions. Imagery is not just a wish or attitude of how you want your brand to be perceived by a customer. Imagery, Brand personality, Positioning are essentially more based out of your Touchpoint interactions. In simple words, your Brand personification is not a wonderfully woven Outside-In concept from your media agencies. It is infact, a steadily built Inside-Out effort reflecting the DNA and culture of your organization.

In India, MCdonalds is practicing it very consistently. Run across any of their stores and you’ll come across very similar standards of service. Cheery interiors, further enhanced by a happy, helpful and peppy staff. Others like Domino’s and Pizza Hut too are achieving this with a good degree of success. These food joints have realized the power of such Touchpoints and are certainly investing a lot in training and ingraining the Organization culture to these multiple ‘faces of the company’.

To add, over and beyond the traditional Touchpoints, companies need a distinct strategy to keep the Social Media Touchpoints pretty engaging as well. With its unique features, social media offers new opportunities for increasing transactions and gaining new customers through promotions and rewards programs. Infact, the level of engagement and dynamism generated from this media could be a key differentiator for many businesses –

• Design your marketing programs to exploit features unique to social media. Social media provides cost efficient, highly leveraged, and unique engagement opportunities (e.g., social networks, viral advocacy, one-click transactions, check-in/location services, scalability, etc.).
• Make it more engaging through platform strategy, content strategy, marketing and promotions, social  and mobile apps
• Identify and engage social media influencers. Convert them to brand advocates. Increase engagement to boost customer acquisition. Figure out innovative strategies to monetize your Social Media pull. Strategies to convert cute Likes to committed Love!

Link

One Brand, One Customer, One Experience

As indicated earlier, how often have you been pushed around by multiple departments in a company? How often have you felt lost in the complex web of organization structure? How often have you felt dealing with two completely different companies before sales and after sales (Mahindra Holidays, ICICI)? or during Business development pitches and final outcomes (various Outsourcing consulting firms with BD-transitions-Operations/delivery structures)?

Ask any existing Maruti car owner and he’ll vouch for its after sales service (ASS).  Yes, the company makes great value cars – aggressively priced, packed with features and fuel-efficient. But at the same time, a major component of Maruti’s success is its wide ASS. It’s not just an attitude reflected in its advertising (finding a Maruti service station in the nowhere of Ladakh mountains). It is a well-established fact that its customers feel delighted about. The wide ASS network and easy availability of cheap spares completes the One Experience picture for Maruti. All the afore-mentioned factors providing good resale value for Maruti cars and thus further enhancing its appeal. It’s a wonderful way of providing value right from Sales to After Sales to Resale (Maruti True Value) to Upgrade. The complete journey of a Maruti customer from his Alto to SX4 to Grand Vitara. Wonder why they haven’t used such a convincing script in their advertising? Zindagi ka Paiyyah, Meri Maruti! (driving the wheels of life, My Maruti!)

Touchpoint Marketing is about Linking up all your brand Touchpoints to a uniformly satisfying Customer Experience story. Needless to say, it’s essential to Link-in your social media strategy as well by creating a seamless user experience that drives conversion. Capturing, analyzing, and acting upon customer input in the various stages of the “conversion funnel” is key to reaching your objectives. Allow a good amount of tailoring of your social media promotions for various target segments. Allow them to create their own communities thus further enhancing the appeal of such programs.

To know more, continue reading the fifth part of this seven-part series here

Touchpoint Marketing Chapter 3: The Moments of Truth that define Great Brands, Great Companies

The Moments of Truth that define Great Brands, Great Companies

This is the third part of a seven-part series on Touchpoint Marketing. Do catch up on the first and the second part of this series to build more context about this piece.

Knowing the characteristics of your customers can help to clarify and identify potential leads. Yes, it’s right that 20% of your existing customers are bringing in 80% of your revenues. But choose to ignore the other 80% at your own risk. Customers change. Their incomes, attitudes, preferences, life stages evolve at a much faster pace than our ability to garner insights. We could be sitting on potential blockbuster, currently dormant customers. It would be naïve and myopic to not acknowledge the unique, niche segments within your customer clusters. All it takes is a bit of a nudge and push to activate them. They may be too miniscule in terms of their segment size, but may still have the potential to emerge as your most entrenched customers. But yes, it definitely takes some deep-dive understanding about these customers to make them an offer they can’t refuse.

It’s time that companies wake up to the power of these niches and start looking at these smaller segments for their unique characteristics. It’s time to stop looking at customers as one large mass that’ll react similarly to mass marketing ‘pulls’. Somewhere, we need to go beyond the existing lazy segmentation of key accounts, high net worth (HNWs) and the rest.  Marketing to this ‘Rest’ could be a real game-changer! If marketers put concentrated marketing efforts toward knowing about these high-potential niche customer segments, they're going to do a whole lot better than if they go after everybody in a similar manner.

Now is the time to use the knowledge of your CRM systems and Data Warehouses for clarity and better decisions. For quicker, agile and more targeted offers/mailers. If there is newly discovered information that you should be capturing in your CRM system, now is the time to add the additional fields into your adaptable CRM system.  

Going ahead with a multi-media campaign that claims “Hum Rishtey samajhte hain” and not caring for your existing ‘Rishteys’ doesn’t really add up. It’s great to be gloating about your social media success through the sheer no. of ‘likes’ on your Facebook page. But is there any metric that tracks the sheer no. of ‘dislikes’ for your customer service? High-pitched above-the-line media campaigns bring immediate, far-reaching success (or so you think), but it are consistent below-the-line, Touchpoint-based, one-to-one efforts, the make you the revered organization you always wanted to be.

Multiple customer service roles were introduced to bring your product/service closer to the customer. To help him, to advise him, to guide him, hand-hold him and lead him to this best interests. Excellent, ideal concepts to begin with. But somewhere along the way, all these additional roles are simply adding to your brand clutter. These numerous ‘faces’ of your brand (with no real brand ownership) could be steadily eroding into and diluting your core proposition.

It’s time Organizations de-clutter themselves and get out of the complex web of Organizational structures. It’s time customer-centric finally places the customer at the centre (rather than pushing him across the organization centers). Your customers are not just a part of a fancily-labeled segment (Young achievers, late bloomers, mid-life identity seekers), each one is a distinct individual. Each one is interacting with multiple Touchpoints of your company on a regular basis. It’s time each such Touchpoint starts being the essence of your brand characteristics. The features and attributes that you’ve been so aggressively marketing through your ATL campaigns, finally boil down to a few moments of truth. The moment a potential customer finally comes face to face with your brand.

Touchpoint Marketing is all about leveraging the potential of these moments. By no way is this revolutionary concept. CRM, Net Promoter Score (NPS), Point of Sale (POS), merchandising…companies have been practicing these concepts for a long time. It’s just that we need a consolidated fresh-look at all these initiatives from a ‘One Customer’ perspective. We need a strong culture that enforces the belief of ‘One Customer’ who deals with multiple Touchpoints in our organization. Rather than multiple Touchpoints catering to multiple customer segments, with no dialogue between each of such Touchpoints.

The idea of Touchpoint Marketing may infact find much resonance in John Carlzon’s definitive work in ‘Moments of Truth’ way back in 1987.

As famously emphasized by John Carlzon - A company is defined in the minds of its customers as the composite total of every moment of truth -- those short periods when the customer interacts with the company or one of its employees. The best approach to delivering consistently high-quality moments of truth lie in building a customer-driven company. The essential characteristics of such a company being –  

• The employees who interact with customers have the authority to make decisions on behalf of the company.
• Middle managers who work to manage resources so the frontline employees can be more effective.
• Corporate leaders who develop a vision of where the company should be heading and provide inspiration.
• A flat organizational structure where real-world experience from frontline employees is learned from and built upon.
• A willingness to look at everything solely and exclusively from the same perspective a customer uses.
• A commitment to narrowing the focus of the company to the delivery of exceptional service.

 

Bring all of those elements together and a customer-driven company can achieve some very significant business success, regardless of external financial conditions, competitive challenges or any other factors.

About 2 and half decades down the line, Moments of Truth still continues to be a truthful, profound ethos of everything that customer-centric companies should aspire to be. Today, Touchpoint Marketing simply tries to build upon these ideas through the twin lenses of Analytics and Social Media. Some impossibly powerful tools that were yet to be discovered way back in 1987.

To know more, continue reading the fourth part of this seven-part series here

Touchpoint Marketing Chapter 2: Are Your Satisfied and Loyal Customers Committed Enough?

Are Your Satisfied and Loyal Customers Committed Enough?

This is the second part of a seven-part series on Touchpoint Marketing. Catch-up on the first part here

 

• How often have you come across a wonderful piece of direct mailer that makes you feel ‘The chosen one’?
• Yes, retailers keep blasting us with end-of-season, fresh-stocks, and clearance sale mailers on a perennial basis. But those are generic mailers. How often have we seen a customized mailer or offer from a retail chain?
• Our Banks and Insurance firms keep us occupied with higher interest rates mailers and ‘we care about you’ kind of mushy mailers. But how often have you witnessed a terrific pitch of up-sell or cross-sell from your bankers/insurers?
• Everyone has been doing database-based telemarketing since the birth of Christ, but how often have you come across a genuine case that talks just to you? A Marketer who actually knows your attitude, preferences, lifestyle and lifestage and has a terrific offer ‘Just for you’!
• My hatchback car company never reached out to me for a potential upgrade. I love their latest Sedan. Just a gentle nudge, some offer, some freebies…and I am sold on. But no one ever attempted this.
• My Insurance firm never tried a potential cross-sell for a kids plan despite being well aware of my lifestage.
• My online holiday provider was of good help during my last vacations. But they never reached out again with some exotic offers and locations for my next vacation.
• My executive education service provider takes web-based management lessons to the length and breadth of this country. However, closer home, its own team is struggling for simple customer service etiquettes.

Makes me wonder, where is all that Analytics going into? Is it sitting in water-tight silos? Does all the output from ivory tower data warehouses goes in creating only historical patterns, trends and dashboards? The predictability, the power to predict that we keep talking about, never reaches the on-the-field marketing teams?

In today’s age of ubiquitous feedback forms and KYCs, do companies actually KTCs i.e. Know Their Customers?

To improve sales, you don't necessarily need more customers. You need better customers.

A concept wonderfully explained in Jan Hofmeyr & Butch Rice’s seminal work in Commitment-led Marketing.

The customers that your data says are your most satisfied may be the most likely to leave tomorrow. So are you asking the right questions and measuring the right dimensions? Some customers appear to be loyal because they habitually buy a product, but this does not mean they are committed to it. They appear to be loyal because in all probability they don’t have many options. They may be the first to fly off your radar the moment another similar product arrives. More like commitment levels in many long-term marriages and relationships. Many times, loyalty could just be a virtue of lack of exciting options! 

Loyalty is what customers do. Commitment is what they feel! Customers can appear deceptively loyal but actually be uncommitted (they might only use the brand because everyone else does (Microsoft), through lack of choice, affordability, or distribution. Commitment-led Marketing is about creating a Conversion Model that allows companies to segment users by commitment to stay, and non-users by openness to adopt their brand. By applying this to their brand, and competitors, companies can identify the right strategy to defend share (if they are a large brand), or steal it (if small). It’s time companies and marketers start acting on the fact that customer satisfaction is a poor predictor of behavior – commitment is better. How many committed customers are being created and nurtured across their Touchpoints?

Many businesses believe mass advertising through email marketing, billboards, radio/TV, direct mail and other channels alone will drive sales. They couldn’t be more half-baked in their assumption.  ‘Above the Line’ Media simply creates awareness, interest levels, enquiries, walk-ins and at best, trial purchases. Beyond that, it’s your brand attributes and service features that take over.

Many businesses simply create the pre-requisite Facebook, LinkedIn & Twitter home pages and think they’ve cracked the Social Media Marketing (SMM) puzzle. Just beaming over the no. of likes and shares (most often by your own employees) can’t be the only defining metrics for SMM. It’s more about how your brand has adapted or presented itself in the social media context. How is your brand engaging (and not just informing and entertaining) with the online customer?

This shotgun outbound marketing approach (one to many) is very helpful in creating the ‘Brand Decibels’ – the awareness. It ensures is setting up potential customers’ first meeting with your brand. Beyond that it’ your ‘Touchpoints’ that need to make conversations, conversions, establish connect, build relationships, drive repeat purchase and most importantly enforce commitment. Touchpoint-based marketing is all about smart and focused client retention through effective inbound marketing. All the marketing media, with their distinct reach and impact, help building your brand saliency (awareness). But what actually builds a Brand is what happens when the customer ‘pull’ results in equally impactful customer service or product commitment.

To know more, continue reading the third part of this seven-part series here