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1、1Place DX artwork in these FPO image containers.Customer Retention from Data to AIA positive response to macro challenges.2Table of contentsWhy prioritise loyalty and retentionHow to design experiences that build loyaltyHow to harness data to drive loyaltyHow to build the business case for investmen
2、tHow to do more,with lessGetting started0304081114153Why prioritise loyalty and retention?Macro conditions are tough.Customers across Europe are feeling the pinch.If they havent already,your boss will soon be shaking your budget hard to listen for loose change and efficiency gains too.In this hard m
3、arket,as a marketer,you will know your customer retention strategy is critical to securing and growing your revenues.It makes sense to focus on earning more business from the customers you know.Theyre already on your side,and you should have a good instinct for what makes them tick.Delighting them i
4、s a great way to invest in your brand promise and build customer loyalty.55%of CEOs believe that the downturn will be worse than the global financial crisis(Guerzoni,Mirchandani,&Perkins,2023)and they are focused on protecting their businesses from further margin erosion and losses.But we know they
5、know customer retention is key-investing here is a top-3 priority that marketers can harness.Its no surprise that improved customer loyalty is a focus.When money is tight,we tend to face a shrinking pool of customers in every sector.To maintain margin your organisation will need to differentiate,and
6、 increase share of wallet and customer lifetime value(CLV).You need to know precisely when and why customers drop out of your journeys.This is the core strength marketing brings to any crisis,but only a capable,well-resourced,data-enabled marketing team can offer the business a way to turn strategie
7、s into action.So,what does it take to design a meaningful experience for loyalty and retention?2023 CEO Priorities:Source:CEO pulse survey,EY,January 2023boost customer loyalty using technology to optimise product suite/services32%maintain/improve performances and margins in an economic downturn29%4
8、How to design experiences that build loyalty.Building a perfect experience is not something you can do by guesswork.Its only possible by knowing your customer the whole customer,and their whole experience of you.Job one:good quality data.With the right real-time data and insight,good things can star
9、t to happen for customer journey optimisation and orchestration,and marketing talent can flex its full creative potential.When you understand the customer holistically,in different moments of their journey,youll know exactly what to try next to keep them coming back.When you know,you know,and your c
10、ustomer will,too.In a highly complex world thats hard to understand and with experiences that lack originality,we need richer,more human and more visual experiences to truly connect with people.Meaningful experiences are like a relationship:the more I give,the more I get.We need to design experience
11、s that are truly giving something,where we are authentic,transparent and personal.Experiences that can be truly magnetic.Lisa Lindstrm EY Global Innovation and Experience Design Leader,Stockholm5From good data flows great insights-ones capable of creating meaningful experiences for each customer.But
12、 if you only know their email and website clicks,you dont have the data from inbound,or from their bricks&mortar touchpoints,youll never know the whole story.To get it right every time,you need a customer data platform(CDP)that can support you with three core tasks.Lets look at each one:Creating a S
13、ingle Customer View(SCV)Connecting omnichannel data Activating your insights.Were able to show results and do things that we couldnt do as seamlessly or easily as before,which honestly gets people excited.You find people want to get in there and play with the data.So,were starting to see a shift in
14、the way we think,the way we work and collaborate Meghan HeatherSenior Director,Global Tech Comms and Planning,The Coca-Cola Company6Creating a Single Customer View(SCV)With your SCV comes more robust GDPR compliance.Without a golden customer ID,you cant guarantee your ability to fulfil customers req
15、uests to discard their data,across silos-a right they enjoy under GDPR.You will maximise the full value of Artificial Intelligence(AI)and Machine Learning(ML)when you can feed them with these large,high quality data sets.Great platforms apply AI/ML to the work of ingesting and refining that data,in
16、real-time.This 360 customer view also allows you to store and manage the large amounts of data required for AI initiatives.To realize the full benefits,you need the capabilities in place to activate this data in real-time.Doing so requires sophisticated,predictive Machine Learning and AI to inform y
17、our marketing decisions.Adobe Real-Time Customer Data Platform equips you with privacy-ready consumer and account profiles that update automatically based on behavioural,transactional,and operational data,without manual data stitching.Data collected from across channels and systems is normalized int
18、o a standard taxonomy with person and account-level identity resolution,governance,segmentation,and activation in milliseconds.Its ML and AI-powered predictive propensity scores and contextual insights let you understand your customers better to create meaningful experiences at scale.Connecting omni
19、channel insightsIn a digital-first world where our customers interact and transact in both physical and digital environments,web analytics alone are no longer enough.Use AI-powered data consolidation and predictive analytics to interpret customer behaviour across online and offline channels to deter
20、mine next best action.Omnichannel insight is vital for the savvy marketer,to see the whole journey for each customer,to understand the effect of each journey,to design truly exceptional and meaningful customer experiences.Adobe Customer Journey Analytics makes it simple to explore the customer journ
21、ey with full context to discover cross-channel insights in real-time.You can also improve segmentation,get objective attribution,and apply AI to investigate anomalies.Drag-and-drop queries and instant responses transform the way your team can test and innovate.7Activating your insightsFinally,you ne
22、ed the capability to activate the insights in your rich 360 omnichannel customer view.The hypotheses,journey designs and audiences youve developed in analytics should flow freely across into execution.It should be simple to test and iterate rapidly,to deliver the right content to the right customer
23、in the right channel-at just the right time.Precision targeting is transformative for customer retention.Adobe Journey Optimizer takes campaigns and audiences from insight straight to execution.Orchestrate and automate customer journeys in response to real-time behaviour,contextual changes,or busine
24、ss signals.Select the next best offer with intelligent decisioning in response to real-time customer behaviour.The Gap in Data Practices between leaders and laggards.Source:Forrester Report,June 20228How to harness data to drive loyalty.Whats the first step towards building the capabilities you need
25、 to deliver personalised retention marketing?Most likely,its to establish common understanding between marketing and the analytics team,with use cases.Its helpful to articulate your data needs in terms of use cases.They give the analytics team what it needs to build a robust data foundation thats fu
26、lly aligned to your goals.Any misunderstanding at this stage can lead to the wrong solutions being proposed(Lupton,2022).Consider prioritising these five use cases,from Asplen-Taylors Data Periodic table.You might find it helpful to share these with your analytics team to align around the data you n
27、eed for customer retention:Intelligent re-engagementUse Case|Improved real-time offers and interventions.Detail|Intelligently and responsibly re-engage customers who have abandoned a conversion before completing it.Apply the full potential of AI,with empathy,to design personalised,human experiences,
28、not just transactional reminders.Outcomes|Customers feel recognised for how they prefer to relate to your offer.A light touch makes them more likely to return.Analytics teams looking to derive measurable value from their data initiatives will make excellent partners for marketing teams,because data
29、projects fail when they are siloed as purely technology projects.Simon Asplen-Taylor Author,CEO DataTick9Dont lose campaignsUse Case|Improved Customer Retention.Detail|Reduce customer churn before its too late.Re-engage lapsed customers to increase conversion and drive customer lifetime value growth
30、.Outcomes|You can estimate the likelihood of customer churn using predictive models based on your Single Customer View.You can rekindle a fading relationship with the right spark.Detect customers who are at risk of drifting away using AI to help you enliven the journey they were on,or prompt alterna
31、tives.Customer conversion optimisationUse Case|Improved lead conversion.Detail|Advance a prospect currently in the consideration stage to becoming a converted customer.Consider each customers needs to convert,instead of looking only at the aggregated conversion rate.Outcomes|Keep customers consideri
32、ng a decision warmed-up,with a data-driven experience thats tailored to their specific needs that makes them feel this was created just for me.One European auto manufacturer enjoyed a significant addressability boost through personalisation with Adobe:higher conversion on web3reduction in Cost Per L
33、ead80%boost in leads30%media budget savings10m10Contextual recognitionUse Case|Improved individual customer messaging on contact.Detail|Personalize messaging to recognized users regardless of their current authentication state.Account for in-the-moment context and deliver the highest quality persona
34、lized experience.Outcomes|Real-time personalization is setting new standards in Customer Experience(CX).With clever stitching of profile data,you can deliver personalized experiences and content regardless of the channel or authentication state of the customer,in real-time,in the moment as each cust
35、omer acts.Evolving One-Time Value to Lifetime ValueUse case|Increased share of wallet through the number of products or value of products.Detail|Use the full knowledge of your customers engagement history to cross-reference with similar customer profiles.This will create cross-selling and upselling
36、opportunities for complementary product suggestions,and will enrich the customer relationship from one-time,to lifetime.Outcomes|Those who go the extra mile can truly differentiate.If your analytics team can geolocate the customer and track weather conditions,they can promote location specific produ
37、cts.For content to be effective its needs to be relevant,compelling,and timely.The right experience at the wrong time is still the wrong experience.Geraint Holliman Associate Lecturer,The Manchester Metropolitan University 11How to build the case for investment.To capture value from retention use ca
38、ses,you need a platform with interoperable elements that exchange data freely,in a constant cycle.One that permits you to learn,respond,measure and iterate in days,not months.If your legacy data ecosystem cant deliver these experiences for your customers,your competitors arent waiting.You will need
39、investment to capture this value.In a challenging climate,its critical to understand and articulate the business case.The main case for maturing your retention capabilities is to defend revenue in this challenging market.Your key metrics should be Customer Life-time Value(CLV)and reducing churn,or,i
40、n language the CFO speaks,revenue and margin.Underpinning those projections,youll want to cost-out productivity opportunities and cost reductions with your peers across functions.12Here are some key benefits that matter to the buying committee:Chief Marketing Officer(CMO)BenefitsPost cookie-less wor
41、ld 70%of brands still rely on third-party data despite imminent cookie-less future(Adobe,2023).In the coming cookie-less era you need a strong first-party strategy and privacy-ready account profiles that update automatically.Paid media efficiencies With a more laser-focus on ad spend at the right ti
42、me,right place,right customer,you can dial back the expense of saturation marketing.Customer self-service Recognize which journeys and which segments self-serve well and bring those lessons through to more manual transactions.Chief Information Officer(CIO)BenefitsReduced failure demand Identify what
43、s driving calls and other manual touches that are costly to service and optimize those journeys to manage out negative demand.Accelerate time to value Bring both your platform investment,and the individual campaigns you develop on it,more rapidly to market with a modular“plug-and-play”solution.Put y
44、our assets to work According to Seagate,an average of 68%of the data you have available is left unused(Seagate,2020).Despite being unique IP that your organisation owns,its your most under-utilized asset,meaning value is left on the tableExtended life of legacy platforms By selecting a solution that
45、s fully modular and connector-driven,you may be able to extract further value from systems at end-of-life.13Chief Data Officer(CDO)BenefitsReduced developer overheads Keep the running costs of analytics and insight to a minimum with simpler querying,easier data cleansing and AI-driven prompts.Talent
46、 retention Reduce key person risk and re-hire costs by ensuring your marketing and analytics talents continue to see skills development opportunities with you.Creating a Single Customer View(SCV)An SCV is required to enable more sophisticated predictive,ML and AI assisted decision making.Data Compli
47、ance Fulfil your duty towards customers by delivering on their right to be forgotten,regardless of which silo holds which data on them.Without a golden customer ID and Single Customer View,you are exposed to fines and reputational risks due to a GDPR breach.14How to do more,with less.Every crisis pr
48、esents a crossroads.In one direction,you take the cut and trim your ambitions to fit,shedding customers as you go.In the other,you help your organization see how you can do more with less,by investing in marketing productivity gains.Tacking into the economic headwinds and making progress against you
49、r long-term goals is going to take teamwork.Since the investment you make in your experience platform will help your colleagues in other functions meet their objectives,too seek their support.A helpful tech partner will aid you in sizing those value adds and zeroing-out lower-value activity.As you f
50、ocus on your strengths and build deep first-party insight,you get closer to the customer,secure revenues and potentially more than double CLV.Giving your customers a multi-channel experience thats smooth sailing all the way lets them know that you work hard to recognize them,that they must truly mat
51、ter to you.The extra care youve taken just shines through.Its not just in challenging economic times when retention matters.Were all customers,too.We recognize the frustrations of a bad experience and cherish that hard-to-describe moment when youre experiencing a great one.Because when you know,you
52、know.We all recognise the value in that difference including your CEO.Adobe is a Gartner Market Leader in Experience Platforms,a position were proud to have held for more than five years.15Getting started.Heres an internal capabilities check list to help get you started on your journey towards harne
53、ssing data to drive improved customer loyalty.Create churn modeling and scoring based on real-time data,and combine with time-based eventsand profile attributesDeliver personalized win-back experiences basedon first-party,AI,behavioural,and offline transactiondataConnect analytics to inbound signals
54、 like call centredata for sentiment analysisTrack user events across the full journey to reveal thesteps before they quitAnalyze all the contextual drivers that contribute topositive and compelling experiencesUse advanced segmentation and activationcapabilities for pseudonymous profiles that havenot
55、 yet registered or convertedActivate personalized experiences and offers that trulyincentivize to move beyond considerationIngest online and offline event data to stitch togethera holistic view of the customer journeyCompare behaviours against retained or loyalcustomers for insightsUnderstand custom
56、er behaviours and optimizeexperiences across the journey(i.e.web,call center,chat)Retarget across devices based on unified,actionableprofiles with advanced segmentation andpersonalization capabilitiesRapidly query the data in a flexible,intuitive interface,avoiding the need for SQL or advanced exper
57、tiseUncover deep insights and seamlessly publishaudiences for activationKey resources to share with your colleagues:Take the fastest path to real-time customer data profilesAn IT Managers Guide to Building or Buying a CDPIT LeaderAnalytics LeaderChief Data OfficerData,Insight,Action:Machine Learning
58、&AI for Marketing Analytics16 2023 Adobe.All rights reserved.Adobe,the Adobe logo,Adobe Real-time Customer Data Platform,Adobe Customer Journey Analytics,Adobe Journey Optimizer and Adobe Experience Platform are either registered trademarks or trademarks of Adobe in the United States and/or other co
59、untries.Adobe can help.Adobe Experience Platform makes real-time customer experiences possible.As the foundation for Adobe Experience Cloud products and services,Experience Platform is an open system that stitches together customer data from every interaction through every channel in real time.The r
60、esult is true,comprehensive customer profiles that drive relevant experiences for every customer.And it gives you the ability to analyze the data that really matters for customer experience,to train Artificial Intelligence and Machine Learning models that put your customers first,and to connect all
61、your customer experience technology to a single source of truth.Sources Adobe.(2023,March 9).Adobe Study:Brands That Rely Too Heavily on Third-Party Cookies are Leaving Money on the Table Today,Risking Long-Term Business Harm.Retrieved from Adobe:https:/ Report 2022.Retrieved from https:/ Positioned
62、 as a Leader in the 2022 Gartner Magic Quadrant for Digital Experience Platforms.Retrieved from https:/ and Analytics Strategy for Business:Unlock Data Assets and Increase Innovation with a Results-Driven Data Strategy.London:Kogan Page.https:/ Perkins,B.(2023)The CEO Imperative:How will CEOs respon
63、d to a new recession reality?Retrieved from Rowley,J.,2014.Business to business digital content marketing:marketers perceptions of best practice.Journal of research in interactive marketing,8(4),pp.269-293.Lupton,J.(2022,June 7).Why So Many Data Warehouse Projects Fail.Retrieved from Forbes:https:/ More of Your Business Data to WorkFrom Edge to Cloud.Retrieved from Seagate:https:/