Booz & company (now Strategy& and part of PwC) published a nice article on how different types of companies can be classified as 4 types of Digital Marketing Models. The article outlined key capabilities that need to be build for each type of model. The four types of firms are: Digital Branders: Firms that relay on advertising and promotions to […]
Promotions and customer experience are crossing new frontiers! The latest is Horizon Blue Cross Blue Shield of New Jersey launching a loyalty program that rewards people if they exercise regularly. Preventative healthcare is big today, especially as insurers find new and innovative ways to reduce redemptions, and then hopefully, our premiums. Initiatives such as these on connected customer experiences provide a huge jump in […]
Customer Experience design is often considered to be at the point of interaction. That’s why we see so many customer service trainings being conducted for customer facing teams. Some common scenarios are: Handle a customer’s call Process service requests at a branch Deliver a product and orient customers Train customers on how to use a product Provide a personalized website or mobile […]
It’s pretty common now to think of user experience (website or mobile design) in terms of customer experience design (how customers experience your overall brand). The Omni Chanel trends have made this even more necessary in today’s world. The way I think about it is that customers (on the right hand side) have both primary and secondary needs. Traditionally […]
An article on Forbes.com analyzed the 3 types of innovation outlined in a report by Booz & Company that companies follow. And it was clear that the “need seeker”, the company that tries to seek out and meet an emerging or latent need, wins hands down. The three types of companies and their innovation models were defined as: Need seekers […]
Recently, a reader of my book asked me about The Principle of External Reinforcement. Her point was that most organizations are now anyway helping people buy what they need. So what exactly is the purpose of this principle? First, if you are already doing that, then its awesome. It doesn’t really invalidate the principle, only helps support it, right? Second, and more […]
We all know that product or service reviews are helpful in positively influencing the propensity of customer to buy. However, most research in this space has focused on the product and the moment of purchase. Lets evaluate some very important dimensions of customer engagement. If we put ourselves in our customers’ shoes, we realize that a product feature specific review is only partially […]
Every business needs loyal customers. We need customers to buy from us rather than our competition. Promotions and discounts are universally followed to secure this attention and loyalty – incentivizing customers to buy from us by way of cash value rather than creating any long term differentiation. Sometimes, and much more effective, these offers are a means to get customers to try out or […]
In the old days (a few years ago), digital marketing was about outreach on digital channels. Get more ad impressions, get more page hits, more Facebook page likes, more clicks on offers, among many other such metrics. The model of marketing was the same although on a different channel – get the word out there and optimize for conversion. Lately, […]
Here are some books that I think rise above the noise. While “getting the word out” and conversions are important, these books help you define what to do to actually create a product that customers want, and how to create long lasting customer engagement. These books are about strategy, and how to compete in a changing world. (I’ve read all […]
The digital marketing world has been abuzz with the power of meeting customers where they are, reaching them with targeted, just in time promotions and sending alerts on their mobile right when they are near a store they may be interested in. We are calling it the power of digital. But it doesn’t seem to be about customer engagement at […]
Back to blog home… Are we thinking the right way about what a social network in a digital world is? Can Facebook really only be the medium to the real social network? Some will argue that its only a platform (brand building, discovering, connecting, learning, researching), while others would stress that its their core network of friends (connecting, sharing). Both […]
Back to blog home… Thinking about customer engagement comes before thinking about our innovation pipeline. Customer engagement is no longer a way to think about engaging customers with our products and services. Instead it’s really about determining which new products and services to launch in order to engage our customers and target market. It’s also true that the target markets […]
2015 has arrived and I wish everyone a wonderful new year. Time really flies. I hope this year we can all catch a breath and enjoy the scenery as we whiz along. Resolutions are the “in-thing” at this time of the year. Here’s to grit and hope! However, statistics are not on our side. Not many personal resolutions will endure […]
Analytics is crucial to generating insights that help your organization meet the competitive challenges it faces. On the one hand, emerging digital channels are causing transformational pressures within the banking industry, and on the other hand, competition from new players is increasing the need for accelerating this transformation. You won’t always have an analytics champion engaged actively during execution. In such a scenario, when […]