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cezarovidiu

10 Reasons Why CEOs Don't Understand Their Customers - Forbes - 0 views

www.forbes.com/...ont-understand-their-customers

crm

shared by cezarovidiu on 28 Feb 13 - No Cached
  • 1) Do bad customer experiences cause people to switch brands? In a 2011 research project conducted by CX application vendor RightNow, 89% of consumers said that yes, a bad experience has spurred them to switch brands. But in the brand-new study of business-executive perceptions that’s the subject of this column, only 49% of the surveyed executives said yes.  QUESTION: What steps do you need to take to close this dangerous perception gap? 2) While 97% of executives say CX is critical to the success of their company, and 91% say they’re committed to making their company a CX leader, only 20% would rate their own CX initiatives as “advanced,” with a dedicated CX leader in place, initial projects pushed to the optimization phase, and the overall project extended to new channels and groups . QUESTION: What are the obstacles preventing you from aligning your actions with your words? If you say it’s a “budget” issue, aren’t you really talking about strategic priorities rather than line items? 3) Most companies have a clear and direct understanding of the looming CX challenge and the powerful interaction of social media. The study found that the top two drivers for CX initiatives are (a) rising expectations from customers (59%),  and (b) the impact of social media on customers’ ability to broadcast good and bad experiences (37%). Now, even if you’re able to somehow rationalize those findings, here’s one that not even the most-accommodating executive can dismiss:
  • 4) Being a CX laggard can cost those companies many tens of millions or even hundreds of millions of dollars in lost revenue: executives estimated that the lack of positive, consistent, and brand-relevant customer experience can cause them to lose out on a staggering 20% in annual revenue.
  • Worse yet, all that money’s likely to wind up in the pockets of your competitors!
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  • 5) While 81% of execs said they believe that social media is an essential ingredient in delivering great customer experiences, 35% of responding companies still do not have social media for sales channels, and another 35% still do not have social media for customer service. QUESTION: How do you plan to close that dangerous gap?
cezarovidiu

Analyzing Human Data: Take a Dive to Find Out What Your Customers Really Feel - Content... - 0 views

contentmarketinginstitute.com/...man-data-customers-really-feel

machine learning blog sentiment analysis customers marketing

shared by cezarovidiu on 30 Oct 14 - No Cached
  • What really interests me, and what I think should interest marketers, is what I’ll call signals – one of which is intent. Intent is critical because it can predict action. For example, “Is this person shopping to buy a product like my product?” “Is this person unhappy and needing some form of attention?” “Is this person about to return the product for a reason that is addressable?”
  • Sentiment is one ingredient of intent. If someone is happy, sad, angry … that can be determined via sentiment analysis technologies.
  • Many tools struggle with context.
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  • An example I hear over and over again is “thin” – good when you’re talking about electronics, but bad if you’re talking about hotel walls or the feel of hotel sheets. To do sentiment analysis correctly, you need refinement. You need customization for particular industries and business functions.
  • The market, unfortunately, is polluted with tools that claim to have sentiment abilities, but are too crude to be usable. Even with refinement (e.g., the ability to handle negators and contextual sentiment), approaches that deliver only positive and negative ratings don’t take you very far.
  • There are definitely easy, inexpensive entry points that can meet basic, just-getting-started needs: tools for social listening, survey analysis, customer service (handling contact-center notes, for instance), customer experience (via analysis of online reviews and forums), automated email processing, and other needs. These technologies are user friendly, available on demand, as a service.
  • Text mining:
  • Digital Reasoning, Luminoso and AlchemyAPI.
  • Image recognition and analysis: Image analysis now automatically identifies brand labels in pictures.
  • VisualGraph (now owned by Pinterest), Curalate, Piqora (nee Pinfluencer), and gazeMetrix.
  • Emotional analysis in images, audio, and video: These companies promote analysis of speech and facial expression primarily for structured studies
  • • Affectiva conducts webcam emotional analysis for media and ad research, including development tools to integrate emotional study in mobile apps. • Emotient performs emotional analyses in retail environments, evaluating signage, displays, and customer service. • EmoVu by Eyeris tests the engagement level of both short- and long-form video content. • Beyond Verbal studies emotion based on a person’s voice in real time.
cezarovidiu

Focus on Valuable Data - Not Big Data - to Boost Conversions and ROI | ClickZ - 0 views

www.clickz.com/...a-to-boost-conversions-and-roi

valuable data conversions roi

shared by cezarovidiu on 09 Apr 14 - No Cached
  • Big Data has been all the rage. But fast data, even if it is small, can be more valuable than complicated masses of information.
  • Here's why: All the focus on "bigger is better" has overlooked the fact that most Big Data segments have not been validated with a business application or value.
  • Those kinds of analytics can help you find the right streams to access and work with, and also can help you build out robust programs that identify valuable customers.
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  • 1) Your First-Party Data: The primary and most valuable data set you can access, first-party data encompasses transactional and other customer-level profile information you have on your customers. It could also include your own off-line segmentation analysis that allows you to map a customer to a customer profile around which you build your marketing programs. This can also include your analytics or other on-site tracking data, which can deliver behavioral insight to your consumers. This data can be difficult to export from its current environment due to the ad hoc nature of the data, but, if possible, look at ways to make this information accessible to your digital sites. 2) Third-Party Data: A consumer's broader Web browsing and buying history can now be accessed in session to provide you with more context on their likes and habits. Data management platforms (DMPs) and other data aggregators are accelerating this offering and, just as importantly, the availability of this type of data. This is invaluable in the context of new visitors who you know nothing about historically. 3) Real-Time Behavior: Let's not forget what our customers are telling us with each click. We get enamored with our predictive modeling to the point that we do not see the tell-tale signs as they are happening. Take the time to stop, look, and react. Your analytic tools, personalization tools, and other software-as-a-service (SaaS) platforms can help you trigger alternate site experiences based on every click you see.
cezarovidiu

http://www.oracle.com/ocom/groups/systemobject/@mktg_admin/documents/webcontent/videopl... - 0 views

www.oracle.com/...videoplayer-ocom.html

oracle crm cx customer experience customer lifecycle

shared by cezarovidiu on 30 Sep 13 - No Cached
  • cezarovidiu on 30 Sep 13
     
    Oracle CX Management Investment - OOW2013
cezarovidiu

The Past, Present and Future of Business Intelligence. - YouTube - 0 views

www.youtube.com/watch

shared by cezarovidiu on 13 Jan 13 - No Cached
  • Irshad Raihan interviews Don Lutter, senior BI solutions manager, on HP's products, solutions and services for Business Intelligence. Don has over 30 years of experience, building and implementing BI solutions. He talks about HP's view on where the market is headed and how HP can help customers address the challenges of Big Data and Real Time Analytics. This interview was recorded at HP Discover 2011 in Las Vegas.
cezarovidiu

Big data: The next frontier for innovation, competition, and productivity | McKinsey & ... - 0 views

www.mckinsey.com/...e_next_frontier_for_innovation

bigdata mckinsey analytics

shared by cezarovidiu on 23 Sep 14 - No Cached
  • The amount of data in our world has been exploding, and analyzing large data sets—so-called big data—will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus, according to research by MGI and McKinsey's Business Technology Office.
  • For example, a retailer using big data to the full could increase its operating margin by more than 60 percent.
  • important factor of production, alongside labor and capital.
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  • five broad ways in which using big data can create value
  • Leading companies are using data collection and analysis to conduct controlled experiments to make better management decisions
  • others are using data for basic low-frequency forecasting to high-frequency nowcasting to adjust their business levers just in time.
  • big data allows ever-narrower segmentation of customers and therefore much more precisely tailored products or services.
  • Fourth, sophisticated analytics can substantially improve decision-making
  • big data can be used to improve the development of the next generation of products and services.
  • The use of big data will become a key basis of competition and growth for individual firms.
  • For example, we estimate that a retailer using big data to the full has the potential to increase its operating margin by more than 60 percent.
  • The computer and electronic products and information sectors, as well as finance and insurance, and government are poised to gain substantially from the use of big data.
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