Blog/Podcast

Loyalty Programs – Part 1

Posted by: liftpoint | On March 28, 2016

Highlights: Loyalty programs: Are they worth all the trouble? Do customers actually appreciate and utilize them? Are there ways to personalize these programs without straining resources? Are they even measurable?

Let’s talk about the good, the bad, the ugly, the effective, and the ineffective when it comes to loyalty programs. What are things you can do from a data-driven perspective to try to optimize them? A recent report states 34% of customers say they will not be loyal to a company that doesn’t offer a loyalty program. 83% of consumers say loyalty programs make them more likely to interact with a retailer. But, many retailers say they seem like too much effort and trouble.

In an era where consumers do their research online and are more informed than ever, rewarding loyalty just might be the thing you need to hook your customers and keep them around.

Join Mark and Brad to see how they’ve developed data-driven programs that facilitate success, and most importantly, happy customers.

Links to Articles Mentioned in the Podcast:

http://digiday.com/brands/starbucks-rewards-program-changes-prompts-complaints-fans/

https://www.surveymonkey.com/results/SM-M8TMDSVW/

http://read.nxtbook.com/1to1media/customerstrategist/spring2015/tableofcontents.html

http://www.bizjournals.com/bizjournals/how-to/marketing/2015/02/9-stats-that-prove-the-value-of-loyalty-programs.html?page=all

http://www.forbes.com/sites/hbsworkingknowledge/2014/02/24/six-myths-about-customer-loyalty-programs/#7513cbef50c3

http://www.mediapost.com/publications/article/248022/the-value-of-a-brand-loyalty-program.html

http://www.crmtrends.com/loyalty.html

http://hbswk.hbs.edu/item/customer-loyalty-programs-that-work

http://www.sas.com/content/dam/SAS/en_us/doc/research2/iia-keeping-customers-107145.pdf

http://data-informed.com/customers-view-loyalty-programs-caution/

https://www.colloquy.com/latest-news/2015-colloquy-loyalty-census/


Click the link below to view the transcript of this episode.
TheLiftPointPodcastTranscription-Loyalty

Want to know more about our hosts –  check out their bios

Mark Price

Brad Smith

 

 

A Simple Approach to Enhancing Customer Engagement

Posted by: liftpoint | On March 10, 2016

Thank You For Shopping with Us3I am absolutely a big fan of leveraging customer data to improve customer engagement and retention!  But there’s more to understanding your customers than data.  I’m talking about tried and true hands-on experience.  Data without hands-on experience can result in marketing that appears tactically and strategically sound, but falls on its face.

By hands-on experience, I literally mean “hands-on.”  Look, we are all customers when we are not at work, right?

  • Become a customer of your company’s products and services (even if it can be embarrassing — don’t worry, your friends will understand).
  • Play out different use cases — buy online, return to the store, buy in the store and call for customer support, exchange your product for another without a receipt, ask for customer support in the store and so on.
  • Document what happens for each of the use cases (ideally make video/audio recordings if you can).

Then take the learning back to the different business teams involved — the digital team, the store operations team, sales, etc. for brainstorming on ways to make the customer experience smoother and more positive.  What’s more, have your whole team do so, over and over.  The weight of these different observations will help to drive change in the company.

Customer data can tell you where customers are having troubles — but it is hard for the data to tell you why.  Combine the data with what you experience in the real world, “hands-on” and you will have a persuasive package to drive change.

The Changing Role of the CMO

Posted by: liftpoint | On February 29, 2016

Highlights: Have you ever wondered what it would have been like to be a CMO in the 1950′s? Like all changing and evolving roles in business, there are still some fundamental similarities. The way we farm and collect data has definitely changed, but has the way we use it?

How would you define the CMO role as it is today? They are the one to take marketing data and turn it into direction and action. As marketers gain more insight into their data, the leadership role has to change with it.

As we kick off a mini-series featuring CMOs, Mark and Brad outline the importance of the CMO role, how it’s changed over time, and where they think it’s heading. Take a listen today!

Links to articles mentioned in the Podcast:

http://www.forbes.com/sites/danielnewman/2015/01/29/are-cmos-poised-to-take-over-technology-purchasing/#27410a8435f3

http://www.cio.com/article/2825086/cio-role/is-the-cio-cmo-transition-of-power-becoming-a-reality.html

http://vivaldipartners.com/pdf/The-Changing-Role-of-the-CMO.pdf

https://hbr.org/2014/08/the-rebirth-of-the-cmo

https://www.fournaisegroup.com/ceos-do-not-trust-marketers/

 

Want to know more about our hosts –  check out their bios

Mark Price

Brad Smith

 

Stop Paying Lip Service to Data and Start Actually Tackling It

Posted by: liftpoint | On February 25, 2016

Plenty of marketers understand that their data is not good enough for them to conduct broad-scale personalized marketing campaigns accurately.  As a result, they often fall back on standard messages and offers, without providing any sense to the customer that the company knows who they are and cares.

As a result, response rates are low.  the company response by blasting more and more emails out to get enough results, and we end up in the email explosion of today.

An alternative approach used by successful marketers is to identify a pool of customers where the data is accurate, and delivery personalized marketing to them.  As data quality improves over time, so does the number of customers where personalized marketing is possible.

Getting started with personalized marketing is the hardest part.  Rather than wait for perfect data, which will never arrive, marketers should start with what they have and build on it for success in the future.

Corinne Sklar in this article in Marketing Profs lays out the importance of data quality, which can help marketers gain support from IT for their initiatives.

This year, 87.9 billion consumer emails will be sent and received each day. To stand out, marketers need to deliver relevant content to their customers—but only 21% of marketers believe they’re doing so.

Moreover, 62% of companies’ email deliverability ranks as “questionable” at best, causing wasted marketing spend, missed campaign opportunities, and valuable time and resources spent fixing inaccurate records.

Without good data, marketing campaigns will inevitably suffer.

Read more: http://www.marketingprofs.com/opinions/2016/29329/stop-paying-lip-service-to-data-and-start-actually-tackling-it#ixzz41IlKX7Ja

Wearables

Posted by: liftpoint | On February 8, 2016

Highlights: One of the hottest items in tech is the wearable fitness tracker. Whether it’s counting steps or extending the functionality of your iPhone, it’s not uncommon to see these fancy bracelets adorning arms left and right. What is the future of this tech? Is it possible for marketers to harness this wearable technology to gain better visibility to customers?

The Consumer Electronics Show is a yearly milestone opportunity for companies to flaunt their hot new technology coming to the consumer market. 2016 did not disappoint. From a high-tech Fitbit to connected cars and clothes, one thing is becoming clear: wearable technology is here to stay and growing quickly.

What does this mean for marketers and marketing analysts? Is this technology something they should be keeping their eyes on? Join Mark and Brad as they discuss the exciting opportunities wearable tech provides and how you can begin to formulate a creative strategy to harness this new frontier.

Links to articles mentions in the podcast:

http://www.cbsnews.com/videos/highlights-from-the-2016-consumer-electronics-show/

http://www.pbs.org/newshour/rundown/10-cutting-edge-gadgets-from-the-2016-consumer-electronics-show/

http://money.cnn.com/2016/01/06/technology/ces-2016/

http://www.theverge.com/2016/1/8/10737368/ces-2016-highlights-walt-mossberg-tour-video

http://www.cnet.com/ces/

http://www.reviewed.com/events/ces2016/awards

http://bgr.com/2016/01/15/ces-2016-awards-winners/

http://www.pcmag.com/article2/0,2817,2497619,00.asp

 

Want to know more about our hosts –  check out their bios

Mark Price

Brad Smith

To read a full transcript of the podcast - #12 Wearables -PodcastTranscript

 

2016 Forecast

Posted by: liftpoint | On January 16, 2016

Highlights: As we head into 2016, with new plans in the queue, what are some things marketers should keep in mind? Mark and Brad have some ideas for you!

___________

With 2015 behind us, and one of the worst holiday seasons in retail along with it, what does 2016 hold for marketers?

Here at the LiftPoint we are looking ahead to 2016, and are excited for new marketing opportunities. From wearable tech to thousands of drones flying overhead, it’s time to get creative with how we engage with customers and track our progress.

We talk often about the “internet of things” and how nearly every part of our lives is “wired” in one way or another. As marketers, this should be at the forefront of our planning, strategy, and execution.

2016 is the year our strategies focus on all-inclusive, mobile-driven marketing, digital customer connection, and new forms of digital payment. Mark and Brad are excited, are you?

 

Links to studies mentioned in the podcast:

eMarketer: Facebook ad revenue from mobile
http://www.emarketer.com/Article/Social-Network-Ad-Revenues-Accelerate-Worldwide/1013015

 

Temkin Group: Customer experience isn’t rising, even though attention to it has
https://www.morningstar.com/news/pr-news-wire/PRNews_20151223PH87203/customer-experience-metrics-are-on-the-rise-according-to-new-temkin-group-research.html

 

Gallup: Customer engagement
http://www.gallup.com/businessjournal/185516/customers-encounter-problems-fully-engaged.aspx

 

Keeping New Year’s Resolutions
http://www.details.com/story/new-years-resolutions-by-the-numbers

 

MarTech Conference
http://martechconf.com/usa/

 

Check out Mark’s bio and Brad’s bio

Full Transcript:   #11 2016 Forecast Podcast Transcript

Marketing Metrics with Paul Farris

Posted by: liftpoint | On December 7, 2015

It’s an exciting week on The LiftPoint! Mark and Brad welcomed special guest Paul Farris, author of Marketing Metrics: The Definitive Guide to Measuring Marketing Performance and Professor of Marketing at The Darden Graduate Business School, University of Virginia, Mark’s Alma Mater.

As a leading expert on retail power and the measurement of advertising effects, Paul gives some helpful insight to marketers today such as why you actually need marketing metrics, how to deal with legacy metrics, how to determine the right metrics for your business, how to handle increasing complexity, and so much more.

It’s not often you get to sit down with one of marketing’s leading minds and ask them whatever you want, but The LiftPoint had that opportunity. Don’t miss out: learn how to build metrics and reports you can have absolute confidence in distributing, and possibly solve some of your marketing metrics problems from the expert.

Paul Farris’ Bio:

http://www.darden.virginia.edu/faculty-research/directory/paul-w-farris/

 

Marketing Metrics: The Definitive Guide to Measuring Marketing Performance:

http://www.ftpress.com/store/marketing-metrics-the-definitive-guide-to-measuring-9780137058297

 

Cutting Edge Marketing Analytics: Real World Cases and Data Sets for Hands On Learning

http://www.amazon.com/Cutting-Edge-Marketing-Analytics-Learning/dp/0133552527

 

Check out Mark’s bio and Brad’s bio

 

 

Building Digital Strategy with a Mobile-First Approach

Posted by: liftpoint | On November 19, 2015

businessman drawing conceptIt’s official!! We’ve passed the tipping point in the consumer’s shift toward Mobile device usage. Comscore (2015_US_Mobile_App_Report from comscore) reports that the number of global users of Mobile devices now exceeds those using Desktops. Earlier this year, eMarketer reported that time spent with Mobile devices now represents 51% of all digital media consumption, and represents about three hours a day, up from less than one hour a day just five years ago.

So it stands to reason that more Marketers are shifting their media spend to accommodate this shift. Also according to eMarketer, both Mobile search and Mobile display advertising spend will exceed Desktop for the first time in 2015.

But while Marketers are rushing to find consumers on Mobile devices through their marketing plans, are business strategies keeping up? We don’t think so!!

Mobile marketing is just one element of a broader, more cohesive enterprise Mobile strategy.  Yet, many organizations approach Mobile as only a marketing channel. Not enough companies fully leverage the channel to fundamentally change the way they do business.

Here are some simple ways to ensure that your Mobile strategy is a key driver in your organization’s overall business plan and strategy.

Understand the Customer’s Needs – And Where You’re Not Meeting Them

An organization’s Mobile strategy should be grounded first and foremost in customer needs, and how a Mobile experience can enhance the overall customer experience. Consumers are on their Mobile phones constantly, and just about everywhere. The numbers are eye-opening (if not a little strange).

We know most people research products via Mobile devices while standing in a retail store – 45% performed a shopping-related task in the last three months alone (Loyalty360). And that people watch TV with their Mobile phone in hand to follow social media interactions or exclusive, Mobile-only companion content.

But it goes beyond that. A Verizon Wireless survey found that 52% of people use their phone before getting out of bed in the morning. And in a stat you probably can’t forget now – even if you want to – 90% report using it in the bathroom.

The point is, there are opportunities like never before to expand the customer experience into ways we couldn’t have conceived a decade ago. Understanding what your customer is doing, and how they’re using their Mobile device, is essential to unlocking those business-building opportunities.

Document the Customer Experience – Particularly Those Places You Don’t Currently Connect With Them

Once you know how customers use their Mobile device, organizations must fully document the customer experience to know where they’re using their devices. No longer is that experience limited to time spent with a call center agent on the phone, or a static desktop session on your Web site.

Success in Mobile will be defined by organizations’ ability to recognize these “Mobile Moments” and deliver experiences that capitalize on them. Mobile Moments are those specific points in time consumers turn to their device in the customer journey.

The online deal site and Mobile App RetailMeNot lets Marketers serve customers coupons when they’re in a specific distance of a retail store. And 27% of shoppers now get offers on their Mobile device, up from just 6% three years ago. Mobile enables interactions to happen at the right time, and with the right context – if organizations understand the journey and fill in any gaps they find.

Mobile App Versus Mobile Web

It’s true that most Mobile media consumption happens via Mobile apps. In the 2015_US_Mobile_App_Report from comscore, Comscore reports that 71% of smart phone time is spent on apps, and that apps contribute 77% of the total increase in digital media time spent on Mobile devices.

But be careful. That’s a bit misleading, and could send your strategy down a black hole. The fact is, most of consumers’ app time is spent on a very small number of heavily used Social Media and Gaming apps. In fact, a user’s Top 3 Apps constitute 78% of their Mobile App time.

When deciding whether to build an app, consider the role your brand or product plays in the lives of your customer. How often do they interact with you? What added value does your app bring to the experience?

Remember that breaking through with an App is difficult. While the reward is significant, so is the risk. Remember that Mobile-enabled Web sites reach more users every month, and that usage is growing faster than App usage (42% v. 21%, per Comscore).

Customers expect a seamless experience. Therefore, we recommend not taking a tool-first approach to Mobile strategy (e.g., start with “We need an app.”). Rather, consider how to drive the across devices and touch-points through the entire customer experience.

Implement a Mobile-Only Analytics Capability

The industry has suggested creating a “Mobile-First” customer experience for a couple of years. That is, since more consumers are using the Mobile device, design first for the Mobile device and let the Desktop support it, rather than the other way around. We agree. But it’s not enough. Organizations must also implement the same strategy for their analytics.

  • First, identify differences in how consumers use your Mobile experience. Many of the traditional Desktop “funnel” KPIs organizations monitor on their Desktop analytics simply may not apply to how customers use your Mobile experience. Because customers use their Mobile devices differently, Mobile analytics has the potential for far more “contextual” insights (Forrester).
  • Next, evaluate different analytics tools to support your Mobile efforts. According to the Win Mobile Moments with Digtial Intelligence Forrester report, 77% of organizations measure their Mobile Web sites using a traditional Web analytics solution, compared with just 23% who use a solution designed for Mobile. Most importantly, testing and optimization techniques so common in the Digital space, lag significantly behind in Mobile. The same Forrester survey suggested that only 19% of Marketers apply online testing tools and techniques for their Mobile experience, and only 9% apply any Mobile behavioral targeting.

Free Mobile from the Marketing Department 

Mobile is not just a media channel. It’s a platform that crosses organizational siloes and enables new ways of doing business. Too many organizations hide “Mobile” in the Marketing Department. Mobile too often resides with mid-level employees who lack senior-level support, or the power to broadly transform the customer experience. As a result, only 7% of organizations have been able to drive a “Mobile transformation” in their business (Forrester Predictions 2015- Most Brands Will Underinvest In Mobie).

Also according to Forrester Research, just 19% of companies have a cross-functional Mobile steering committee with the authority to determine what Mobile services or experiences to build out. Companies need Mobile to permeate the entire enterprise, and be part of the daily discussion in all departments – from finance and IT to supply chain, marketing and customer service. Doing that will change old habits and enable a much broader opportunity to improve the customer experience through Mobile.

Look for Inspiration Outside Your Company

Organizations have the choice to disrupt how they interact with customers and support the relationship with Mobile, or risk being disrupted. Consider the warranty industry. Often seen as high-pressure, confusing and complicated, no business is as ripe for change as the warranty category. Along comes Minneapolis-based Upsie. Upsie is a Mobile application that lets shoppers scan a bar code anywhere and get the cost of an extended service plan for that product. And, shoppers can manage all the warranties in one place – regardless of product, category, or place they purchased the item. Upsie empowers shoppers and simplifies a traditionally confusing, frustrating experience.

Considering how important warranties are for retailer and manufacture margins, Upsie presents huge risk for established brands by intercepting the customer at a critical “Mobile Moment” in the journey and putting the power in their hands. Upsie has now expanded into home warranties, a very logical extension that only increases consumer value.

As a Marketer, what should you do?

It’s clear that while consumers have hit a Mobile tipping point, many of the organizations with whom they have relationships haven’t kept pace. 35% of Marketers still say they lack the budget to achieve their Mobile objectives (Forrester Predictions 2015- Most Brands Will Underinvest In Mobie). Organizations who recognized the opportunity to enhance the customer experience, and design a strategy that supports the organization’s business goals will be best positioned to succeed.

Remember to focus on the fundamentals – A documented understanding of the customers interaction points, well-developed analytics solution and an organization with the right staffing and senior commitment to hold teams accountable for delivering.

The time for Mobile is NOW!

Listen to our podcast on Mobile Strategy

 

 

 

Mobile-driven Strategy

Posted by: liftpoint | On November 11, 2015

Highlights: Have you considered your mobile sales and marketing strategy? Is there something holding you back from initiating goals? Discover how the market is quickly changing, how you can make small steps in your strategy to garner big results, and more. Listen today!

Building an overall business strategy needs to incorporate, if not start with, a mobile strategy. It’s one of the most critical issues for marketers today, with not nearly enough of them taking advantage. With mobile media consumption counting for 62% of all media consumption, there is great opportunity in the mobile and tablet marketing world.

With mobile devices being an extension of consumers now, 84% of people are researching on their mobile device before purchasing anything. They do this not only in the store, but also before they even head out to the store.

How consumers are shopping, researching, and purchasing is changing and changing quickly. They key is understanding the customer’s journey with your brand/product/service and to look for “mobile moments” to connect with them. What exactly is a “mobile moment”? According to Forrester Research “mobile moments” are those instances in the customer journey where mobile marketing can add value to your relationship.

Listen to hear Mark and Brad’s tips of how to meet your customer where they are: their mobile device.

Read More:

http://loyalty360.org/resources/article/consumers-expect-retailers-to-develop-mobile-strategy

http://www.slideshare.net/eMarketerInc/emarketer-webinar-making-attribution-work-in-the-age-of-big-data

Forrester Predictions 2015- Most Brands Will Underinvest In Mobile

Win Mobile Moments with Digital Intelligence Forrester

2015_US_Mobile_App_Report from comscore

http://www.retailmenot.com/

https://upsie.com/

 

Check out Mark’s bio and Brad’s bio

Read the  transcript of this podcast- #9 Mobile Driven Strategy Podcast Transcription

Clienteling with Mobile Tech

Posted by: liftpoint | On October 17, 2015

Highlights: What exactly is “clienteling”? How does it fit in your marketing plans? Learn how to treat your customers more like Mom and Pop did in their corner store with new clienteling software inovations.

In the age of digital media, online shopping, and constant advertising, it’s becoming more and more difficult to connect one-on-one with your customer. It’s true we might have more data about them and their shopping trends than ever before, but we’ve lost some of the personal touch of it all. Is there a way to harness your big data and actually connect with your customers?

When you would walk into a Mom and Pop store years ago, the owner would know your name, ask about your children, and often remind you of something you’d purchased before or make a suggestion of something that would benefit you greatly. What if this same kind of information could be accessed by major retailers to connect with their customers on a personal level and treat them less like a nameless customer and more like a valued client.

Listen to this week’s episode to hear about the exciting technological developments that have helped create “clienteling” and how it could positively affect your business in the near future.

Read more:

John DiJulius Books:

 

The Customer Service Revolution

http://www.amazon.com/Customer-Service-Revolution-Overthrow-Conventional-ebook/dp/B00PIYDOFQ/ref=sr_1_1?s=books&ie=UTF8&qid=1444766925&sr=1-1&keywords=john+dijulius

 

What’s the Secret to Providing a World-Class Customer Experience

http://www.amazon.com/Whats-Secret-Providing-World-Class-Experience-ebook/dp/B0085DZEWS/ref=sr_1_3?s=books&ie=UTF8&qid=1444766925&sr=1-3&keywords=john+dijulius

 

Secret Service: Hidden Systems that Deliver Unforgettable Customer Service

http://www.amazon.com/John-R-DiJulius-Unforgettable-Customer/dp/B00HTJN3PO/ref=sr_1_5?s=books&ie=UTF8&qid=1444766925&sr=1-5&keywords=john+dijulius

 

Retail TouchPoints’ Study: The New Age of Store Operations

http://www.retailtouchpoints.com/features/special-reports/exclusive-2015-survey-report-the-new-age-of-store-operations

 

Mobile Devices Account for more than 50% of Media Consumption

http://www.smartinsights.com/mobile-marketing/mobile-marketing-analytics/mobile-marketing-statistics/

 

White Paper: Point of Sale moving to Cloud

https://www.paypal-community.com/ppl/attachments/ppl/PPFWD/57/1/future_of_pos_paper%20copy.pdf

 

Retailers See Benefits from Beacons

http://www.emarketer.com/Article/Retailers-See-Benefits-Beacons/1013070

 

Burberry Drives Revenue and Loyalty with iPads

http://www.mytotalretail.com/aggregatedcontent/burberry-drives-revenue-loyalty-ipads/

 

Retailers mentioned in this podcast: Home Depot, Maplewood Toyota, Nordstrom, Saks Fifth Avenue, Burberry, Apple Store

Check out Mark’s bio and Brad’s bio

Read the transcript here.