Looking at leaders: Peter Fader

Our 2013 event is all about the Insights-Rich Customer Stories. With that in mind, in the months leading up to the 2013 Total Customer Experience Leaders Summit we’re going to be featuring some of our amazing customer experience leaders here on the blog.


This week, let’s take a look at:

Peter Fader, Professor of Marketing, The Wharton School of the University of Pennsylvania

Fader’s keynote will be on the topic of “How Can Customer Centricity be Profitable?

Many experts are touting the virtues of
‘Customer Centricity’ as a valuable emerging
business model, but there is a lot of confusion
about what this concept means ‘ and
uncertainty about whether and how it actually
leads to greater profitability. The purpose of
this session is to bring clarity to both of these issues. We begin with a brief review of Professor Fader’s recent book (‘Customer Centricity: Focus on the Right Customers for Strategic Advantage‘) but then dive deep into the profitability question. We examine the main tactical ‘building blocks’ underlying customer centricity and point out some subtle but important insights to help managers make the most effective and efficient use of each of them.

Check out this video from Wharton Digital Press for a glimpse into the topics Fader will be sharing at the Total Customer Experience Leaders Summit.

For more about the Total Customer Experience Leaders Summit and our featured speakers, visit our website and download the brochure. Register as a reader of our blog with code TCEL13BLOG to save 15% off the standard registration rates. Visit the webpage to register today.

Win a Meet & Greet with Nate Silver

Nate Silver
Nate Silver (Photo: jdlasica)

Nate Silver, World Renowned Statistician and Founder, FiveThirtyEight.com, is leading a game-changing shift in data analytics and prediction science. He says, by identifying the signal in a world of noisy data, almost anything can be predicted.

The opportunity is yours.


How will you recognize the truly insightful pieces of data and use them to make confident business decisions? 

The Future of Consumer Intelligence is addressing the industry evolution by sharing the insight and tools needed to uncover connections and expose hidden patterns to predict future behaviors using technology.
Download the brochure here.

SPECIAL OFFER: The first 10 people to register with code NATESILVER will be invited to attend an exclusive meet and greet with Nate! Register today to secure your spot!
His 100% accuracy in calling all 50 states during the presidential election is historic. He’s doing just a handful of talks in 2013 so hearing him will be a once in a lifetime opportunity. 
Featured sessions include:
‘ Big Data: Powerful Predictions through Data Analytics
Nate Silver, Founder, FiveThirtyEight.com, Author, The Signal & The Noise
‘ The Human Face of Big Data
Rick Smolan, Creator, Human Face of Big Data
‘ Big Data & Attribution
Ned Kumar, Interactive Marketing Strategist, FedEx Services
‘ Big Data Sucks! (For Understanding Consumers, Anyway)
David Boyle, SVP Insight, EMI Music & Director, of Insight, Zeebox
‘ Journey from Data to Information to Decision Making
Camille P. Schuster, Ph.D., Professor of Marketing, California State University of San Marcos
Download the conference brochure for the full speaking roster and session descriptions.
 
Together, let’s embrace new opportunities and new ways of thinking about our industry. 

Connecting VOC Data Back to Your Customer Strategy

Building a sound strategic customer plan calls for making some really tough decisions. You know that providing unique and authentic experiences to your customer is an integral part of the plan – but balancing that alongside meeting your short-term business goals, requires true organizational alignment in order to achieve real success.

Deliver the experiences your customers have come to expect from your brand means knowing your customer, what they value and translating that value into what matters most.

How well do you know your most valuable customers and are you connecting your VOC data back to the customer strategy?

The Total Customer Experience Leaders Summit is uniting cross-industry, customer-focused leaders to share best practices in linking data-driven behavior to business results, designing next generation customer experiences and measuring the impact of customer programs. Download the brochure for full details here.

Keynote Spotlight: 
 
How Can Customer Centricity Be Profitable?
- Peter Fader, Professor of Marketing, The Wharton School of the University of Pennsylvania
 
Many experts are touting the virtues of “Customer Centricity” as a valuable emerging business model, but there is a lot of confusion about what this concept means – and uncertainty about whether and how it actually leads to greater profitability. The purpose of this session is to bring clarity to both of these issues. 
We begin with a brief review of Professor Fader’s recent book but then dive deep into the profitability questions. We examine the main tactical “building blocks” underlying customer centricity and point out some subtle but important insights to help managers make the most effective and efficient use of each of them.
 
Joining Peter at the event is an impressive keynote roster, including:
‘ Jasmine Green, Vice President, Chief Customer Advocate, Nationwide 
‘ Dan Hill, Ph.D., President, Sensory Logic
‘ Sean Bruich, Head of Measurement Platforms & Standards, Facebook
‘ Christopher Frank, Vice President, American Express, Author, Drinking from the Firehose
‘ Thomas Feeney, President & CEO, Safelite AutoGlass
Related articles

Idea Gathering: Customer Experience & the Decline of Green

 (Photo: Wikipedia)

Not just hearing, but translating innovations and insights is a huge part of the value of the Total Customer Experience Leaders. Our unique idea gathering wrap-ups between sessions facilitate alignment of customer strategy inspiration with business relevant actions and have been one of our most highly rated features in the past.

Here on the blog, we’ll be presenting weekly idea gathering wrap ups of some of our favorite customer experience strategy, design and alignment news and views.  This week our focus is on consumers and the environmental movement. 
Despite environmentally conscious products generating 40 billion dollars for businesses in 2011 the hype around these ‘green’ products is fading with consumers, likely due to the higher prices.  According to a consumer survey conducted by Gfk the number of consumers who were willing to spend more on green items such as food, cars, light bulbs, apparel, and packaging has all decreased since 2008. The percentage of consumers willing to spend more for greener versions of these items has decreased between 5 and 13 percent over the last four years.  This correlates with an Ipsos poll which revealed that 59% of American consumers were not at all willing to spend anymore on a product just because it was more environmentally friendly.
According to a Time Magazine survey, it’s not just over pricing that’s deterring consumers from going green but an overall change in belief. The survey reports that the number of Americans who describe themselves as ‘environmentally conscious’  and ‘car[ing] a great deal about the current state, and future, of the environment’ has decreased since 2009 as well. 
Beyond price and attitude however Advertising Age magazine suggests that the rejection of green products could be due to marketing over-hype and aggression. These kind of marketing tactics which involve exaggerating the impact of purchasing (or not purchasing) certain products have led to consumer skepticism and distrust. When consumers Advertising Age goes on to describe some companies such as Axe and its parent company Unilever which have begun environmental campaigns with limited sales motives merely to gain back the invaluable trust of consumers.  
About the Author

Jeffrey Marino is a contributing writer concentrating his focus on Business Administration, Management Information Systems, and Tech Innovations. He blogs at Fordham Nights and can be reached at JMarino@iirusa.com.

Looking at leaders: Dan Hill

Our 2013 event is all about the Insights-Rich Customer Stories. With that in mind, in the months leading up to the 2013 Total Customer Experience Leaders Summit we’re going to be featuring some of our amazing customer experience leaders here on the blog.

This week, let’s take a look at:

Dan Hill, Ph.D., President, Sensory Logic

In his keynote session, “What’s the Emotional Story?” Hill will discuss the customer experience as a journey. There is a plot with risks, rewards, and the possibility of conflict. The customer will have a reaction to any brand representative with which they interact. Not only are the human representatives important, but the customer will also create a personification for the company as well with archetypes such as the magician or ogre.

Attendees will be exposed to:
 ‘ An introduction to facial coding as a means to quantify feelings
‘ The role of emotions in the consumers preview, story, and aftermath with a brand and/or company
‘ Case studies from 14 years of experience with customer service and customer experience

For more about the Total Customer Experience Leaders Summit and our featured speakers, visit our website and download the brochure. Register as a reader of our blog with code TCEL13BLOG to save 15% off the standard registration rates. Visit the webpage to register today.

CALL FOR PRESENTERS: The Market Research Event 2013

CALL FOR PRESENTERS:
The Market Research Event 2013
October 21-23, 2013 | Nashville, TN
Email kvazquez@iirusa.com by Friday, February 22, 2013.
Submissions due by Friday, February 22, 2013
NOTE: Presenters are accepted on a rolling basis so early submissions are encouraged.

 

About TMRE
The Market Research Event (www.TheMarketResearchEvent.com) is the “World’s Top MR Event” focused on the business value of consumer insights and market research. Designed to empower the researcher to move from insights partner to strategic, consultative leader, TMRE has more than 140 sessions and 175 speakers, making it the most comprehensive market research conference in the world. Multiple tracks and symposia allow participants to truly customize their experience based on their unique learning goals.

Presenter Qualifications
TMRE is seeking client side executives to join the speaker faculty. Speakers can come from any department within the organization. Content must be original and not have already been presented at this or any other industry conference. Note: ONLY client-side submissions will be reviewed. If you are a market research firm, vendor, or consultant, please see below.

 

The Audience
In 2012, TMRE drew more than 1000 participants with more than 60% representing client side companies from all major industries including: CPG, Media & Entertainment, Finance & Insurance, Travel & Tourism, Durable Goods, Pharmaceutical & Healthcare, Retail, Energy & Utilities, Telecommunications, Technology, Automotive and more.

Attendees have backgrounds in market research, consumer insights, marketing, intelligence, brand insights, marketing analytics, R&D, product development, innovation, customer experience, strategic planning, shopper insights, advertising and customer experience among other related areas.

Suggested Topic Areas
1. Social Insights: Data Collection, Listening & Analysis
2. Shopper Insights
3. Consumer & Market Trends
4. Segmentation
5. Biometrics & Neuroscience
6. Ad & Media Research
7. MR Leadership & Strategy
8. Marketing & Brand Insights
9. Insight Driven Innovation & Product Development
10. Business to Business Research
11. Data Analytics & Advanced Analytics
12. Innovation in Tools, Techniques & Methodologies
13. Global Insights
14. ROI & Measurement
15. Activating Insights
16. Big Data
17. Mobile & Technology
18. Storytelling & Data Visualization
19. What’s Next & The Future
We are also happy to consider topics not listed here that you feel would add value and be appropriate for the audience.

Submission Guidelines

Those who wish to be considered for the TMRE speaker faculty should send the following via email to Krista Vazquez, Conference Director at kvazquez@iirusa.com no later than Friday, February 22, 2013. Due to the high volume of responses, only those selected for the program will be notified.
1. Benefit oriented title of session
2. Summary of session (no more than 100 words)
3. Full contact details for speaker including name, title, company, email, phone and mail
4. Speaker bio

If your submission is selected, portions of your summary will be used to promote your participation. In an effort to ensure the utmost quality, all final presentations will be subject to review by our content review board prior to the event.

Past Speakers Include:

Stan Sthanunathan, Vice President, Marketing Strategy & Insights, The Coca-Cola Company, Paulette Kish, Strategic Insights Officer, Mars Petcare, Julia Oswald, Vp, Strategy & Insights, Domino’s Pizza, John Wright, Director, Consumer Insights, Safeway, Renee Pezzi, SVP, Research, Citizen’s Bank, Mike Greco, EVP of Strategic Insights, A&E, Bill Hoffman, SVP, Consumer Insights Best Buy, Susan Wagner, VP, Global Strategic Insights, Johnson & Johnson, Stan Turek, VP Customer Strategy & Shopper Insights, PepsiCo, Dan Zigmond, Technical Lead & Manager, Ad Quality & Pricing Group, Google TV, Joel Aach, VP Consumer Insights, Darden Restaurants, Barry Blyn, VP, Consumer Insights, ESPN

Benefits to speakers
Each speaker receives the following:
1. Free pass to the event including access to all pre-conference symposia and workshops
2. Continental breakfast and lunch
3. Admittance to exclusive networking activities
4. Unique discount code entitling anyone who uses it to 20% off the standard conference rate

Special notices to market research firms, vendors and solutions providers 
This call is limited to client side presenters. If you are a vendor, consultant, solution provider, or technology provider and would like to speak at TMRE, please contact Jon Saxe at jsaxe@iirusa.com or 646-895-7467.

Enterprise Search: A New Customer Engagement Strategy

Last month, we received a tweet from @ACIS_Search on the importance of search in customer experience strategies. As a follow up, we’re happy to present a guest post delving into that topic by Efrem Habteselassie, ACIS Consulting, along with a great infographic. (To submit your own guest content, email vrusso@iirusa.com)

Search has become the de-facto standard for navigation and information discovery within a company’s website. According to studies, if the search experience is not engaging and the returned information is not relevant to the customer, the majority of visitors will abandon the website after three unnecessary clicks.
Most call center managers understand their company saves money every time a user is able to effectively find the answer to his or her support issue online, yet many companies still do not have an effective enterprise search strategy to make the support experience engaging and productive.
When considering your tool kit for customer engagement, enterprise search should not only be added to this list, it should be a top priority.
Organizations are beginning to understand the need to transform search strategies in order to reduce cost, improve efficiencies and enhance customer experience. The solution is Enterprise Search Optimization (E-SEO), which is the process of tuning the search platform and content structure on a company’s website to deliver highly engaging and relevant information that meets user needs. When properly deployed and managed, an E-SEO strategy will boost customer engagement, user satisfaction and company profitability.
Transforming Customer Experience Through Enterprise Search
Customer experience is the key to success in 2013. As noted in the Customer 1st blog post, Your 2013 Customer Experience Checklist, customer experience has been identified as a huge opportunity for growth in that ‘the organizations who are doing it right are seeing profits soar above those who have not.’ But what many companies may not realize is that enterprise search can play a critical role in this regard.
One of every three customers who use call centers have visited the company website first. For corporations that have hundreds of thousands of phone calls a year, reducing the call volume by even 10 per cent will lead to a significant cost savings.  It will also avoid an abundance of frustrated customers.
In order to deliver an incomparable web experience for end users, organizations must provide the customer with engaging information though accurate and relevant search interaction. From an E-SEO strategy perspective, user engagement and online experience are all about making intelligent use of available information and leveraging the search technology to deliver highly engaging and applicable search results that match the customer needs in his or her current context.  Companies that are successful in properly executing their E-SEO strategy will see:
??         Increased web activity
??         Improved productivity rates
??         Enhanced customer service operations
??         Stronger customer relationships
The ROI on Enterprise Search
Many companies develop website content with Search Engine Optimization (SEO) best practices in mind, and yet customer retention rates continuously fall short of expectations. These companies end up investing thousands of dollars into an SEO strategy that falls short of producing the intended results. There are a variety of reasons for poor conversion rates or abandoned search sessions; but among the key factors is the lack of an E-SEO strategy.
Your E-SEO strategy must be properly aligned with marketing campaigns and customized to recognize and highlight the marketing keywords used in these campaigns. It is also important to ensure your enterprise search is in tune with the way users are interacting with your website.
Enterprise search is typically initiated to address the following key pain points:
??         Customers are dissatisfied with the quality of search, and these complaints lead to productivity loss.
??         Prospective buyers who arrive at the website are abandoning it without making a purchase.
??         Existing customers are looking for product support information and end up using the more expensive call center channel.
A search upgrade project is often launched with an objective to achieve a measureable improvement in one or all of the above problem areas. The metrics used to identify these issues include:
??         Customer satisfaction index;
??         Productivity improvement;
??         Visitor conversion/registration/buy rates or an increase in the amount of time spent on the website per visitor;
??         And reduction in call center volumes.
To learn more about enterprise search ROI, check out these tips for developing a business case for search.
ACIS Consulting Inc. provides world class technology services in enterprise search and knowledge discovery, helping companies bring increased value to customers. ACIS offers a range of search based applications and an extensive library of functions and features that can be leveraged to quickly create custom solutions for specific business needs.

Visit www.cloudsearchportal.comto learn more or follow us on Twitter @ACIS_Search and LinkedIn ACIS Consulting Inc. 

Idea Gathering: Customer Experience News – B2B vs. B2C

Idea Gathering: Customer Experience News – B2B vs. B2C

 Not just hearing, but translating innovations and insights is a huge part of the value of the Total Customer Experience Leaders Summit. Our unique idea gathering wrap-ups between sessions facilitate alignmentof customer strategy inspiration with business relevant actions and have been one of our most highly rated features in the past.

Here on the blog, we’ll be presenting weekly idea gathering wrap ups of some of our favorite customer experience strategy, design and alignment news and views.  This week our focus is on B2B experiences. Customer experience is too often associated with B2C firms which is a mistake that B2B firms are beginning to pay for.

A recent study by The Temkin Group revealed that as far as customer experiences go, B2B firms lag far behind their B2C counterparts. According to the report, apart from employee engagement (which B2B firms led by a small percentage), B2B firms are far behind B2C firms in most other fields. B2B firms struggle the most in creating compelling brand values and purposeful leadership.
What can B2B companies do to narrow this gap? Can the same customer experience development strategies be applied to both B2C and B2B companies? 
Companies should be wary about blurring the lines between their B2C and B2B clients. While some basic customer experience strategies can be applied to both, certain distinctions must be made when dealing with B2B clients. B2B clients are multifaceted and not just the product user but also the decision makers regarding the product need to be considered. 
If B2B firms want to catch up to the brand value and customer experiences that are being generated by B2C firms then they will need to invest more resources into developing their understanding and relationships with their often more complex clients. 
For more conversation on topics like this, join us at the Total Customer Experience Leaders Summit: register as a reader of our blog with code TCEL13BLOG to save 15% off the standard registration rates. Visit the webpage to register today.

Jeffrey Marino is a contributing writer concentrating his focus on Business Administration, Management Information Systems, and Tech Innovations. He blogs at Fordham Nights and can be reached at JMarino@iirusa.com.