This week’s edition of CMO Perspectives focuses on how using big data can personalize the customer experience. It sounds easy enough, but there are many pitfalls along the way. For instance, some companies hoard data in silos instead of sharing it across the company. Other companies realize the importance of implementing a big data program, but these programs have yet to get off the ground.
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It’s no secret – I love breakfast. Every Saturday I wake up ready to make a fresh batch of pancakes for my house. But this Saturday I had a bit of a disaster on my hands, a disaster that’s reminiscent of something we see all to often in Performance management.
This week’s edition of CX Buzz challenges marketers to see each customer not as someone they interact with at a certain point in time, but as someone embedded in a life narrative with goals they want to accomplish. Customers don’t wake up in the morning thinking: today I want to interact with my bank, retailer, health plan, etc. Instead, they have goals in their lives that sometimes lead them to interact with your firm. Two of the articles here even address the issue of whether the customer experience is more important in a good economy or bad. The answer is not as obvious as it seems.
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This week’s CMO Perspectives is all about relationships. It’s the CMO’s role to tend and cultivate relations with customers. Even if your customers number in the thousands or more, each one should feel as if they’re the one and only. That’s not an easy feat! Customers don’t like receiving random pitches that don’t apply to them. The main message of these articles is: Make it personal!
In this week’s CX Buzz, we discuss the ever-changing customer service environment and what you need to do to remain competitive. Omnichannel is the new buzzword, and those companies that know how to provide a seamless experience online, on mobile, in store as well as through their contact centers will come out ahead. Not to mention taking advantage of big data to personalize the customer experience to the max.
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Your peers are using compensation and commission technology to crunch the numbers and guide growth.
When your organization first rolled out incentive, compensation and commission technology it produced a burst of value. Over-payments all but disappeared. You modeled plans with greater agility and precision. But over time, the marginal benefit has declined—the ROI hit a plateau.
This week’s CMO Perspectives is about the CMO’s role as strategic innovators and the forces holding them back. Customers today want things personal, and they want things now. This makes CMOs the conduit for all of a company’s business. Other departments, including IT, are struggling to keep up. This can lead to tension between the CMO and CIO, but the most successful companies are those where these two executives find ways to cooperate.
Managing the customer experience across multiple channels is one of the more complex challenges many companies face. But it’s also the path to customer loyalty and continued growth. The companies most attuned to crafting a seamless, swift, and memorable customer experience are the ones that develop lasting relationships by creating more value for customers.