It seems we are being given a reprieve this week of 2016 predictions and the industry is back to good old fashioned what CMOs need to know to create better customer experiences right now. We feature Eric Krell interviewing Jeanne Bliss on dmnews.com. Lucy Fisher [marketingweek.com] discusses how CRM is becoming the ‘New Advertising’. We share a great infographic on segmentations barriers by the brand gurus at Quarry.com. Not to miss is this piece by Daniel Burstein of MarketingSherpa fame [huffingtonpost.com] asking if intimacy is at the forefront of your marketing campaign. Finally to wrap up a great week, we share a Greg Satell [curatti.com] gem of a piece calling for a rethink of the customer decision journey. Enjoy!
The Customer Competencies Every CMO Needs [dmnews.com]
Having originally spoken to CMO Perspective's favourite Jeanne Bliss after the launch of her first book, "Chief Customer Officer: Getting Past Lip Service to Passionate Action," which appeared in 2007. Eric Krell re-interviews Jeanne to see what she has to say about the state of the CCO in 2015, how CMOs can up their customer relationship game, and the two can work in-step. Krell attributes the launch of Blisss's 1st and now also 2nd book, “Chief Customer Officer 2.0: How to Build Your Customer-Driven Growth Engine” to ‘having a keen sense of timing.’ But it is clear that it should be attributed to a deep understanding of the market and trends more than just a keen sense of timing. Jeanne knows her stuff.
How CRM is Becoming the ‘New Advertising’ [marketingweek.com]
Recent research by The CMO Club and IBM, which was recently reported in Marketing Week, suggests that CMOs are currently looking to spend more on customer retention than acquisition. Customer relationship management (CRM) is central to that ambition, and Lucy Fisher [marketingweek.com] is asking, "So does that mean it is it set to become ‘the new advertising’, with one-to-one customer communications displacing media spend as the dominant element of the marketing mix? According to Chris Bates, head of customer marketing at John Lewis and quoted in this piece, CRM has been growing as a discipline for many years, and is now being used by many brands as the primary vehicle to launch new products or sub-brands.
The 7 segmentation barriers to creating exceptional #CX - an Infographic [quarry.com]
Brand gurus Quarry have found, based on their research, that there is a hidden (yet huge) obstacle standing between companies and the full potential of their CX initiatives, that is their segmentation model. Check out this sneak peak at their great infographic showing the seven segmentation-related barriers that companies need to overcome to unlock fully the promise of CX. You will need to click on the link above to see the whole graphic.
Is Customer Intimacy at the Forefront of your Marketing Campaign? [huffingtonpost.com]
MarketingSherpa surveyed 2,021 customers and 455 marketers and revealed a not surprising, but still disturbing, disconnect between customer preferences and marketing practices. In this fascinating break-down, Daniel Burstein, Director of Editorial Content, likens how well you know his mom, to what customers really want... He's talking about customer intimacy.
Marketers: Rethink The Customer Decision Journey [curatti.com]
Thank goodness Curatti got permission to reprint this excellent Greg Satell piece on rethinking the customer decision journey, or we might have missed it. Based on the popular McKinsey report, which was radical when first touted in 2009, on a shift to marketing practice they called the consumer decision journey. The article calls into question the long held concept of the purchase funnel in favor of a new model that incorporated customer experience and advocacy. Meaning, rather than merely targeting messages based on past behavior, consumers increasingly expect marketers to adapt in real time and make personalized suggestions. Satell says we need to seriously rethink the consumer decision journey.
We hope you enjoyed this week’s CMO Perspectives, be sure to respond in the comments or tweet us @NICE_CX.