sdl innovate 2014: paige o'neill - the future of customer experience: five truths for...
DESCRIPTION
Few would disagree that customer experience is important – to marketers, the entire company, and most critically, to the customer. Groundbreaking SDL research has captured the voice of the customer: which elements of Customer Experience are working, which are not, and which the customer feels are the priorities. This research has a particular emphasis on the millennial generation as compared with other generations, showing what is most important to both today’s and tomorrow’s consumer. Join Paige O’Neill, SDL’s Chief Marketing Officer, and leading-edge SDL customers, as they explore the future of Customer Experience.TRANSCRIPT
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Paige O’Neill Chief Marketing Officer
SDL
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Getting customers right starts
with knowing who they are
Perception
80% 8% :
Cost
Lost revenue due to poor
customer experience
Gain
The value of customer
loyalty to revenue
6
64% say customer experience is
more important than price
when deciding who gets their
business
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70% of customer complaints on
Twitter go unanswered
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In the Age of the
Customer, companies
MUST become
customer obsessed.
In the Age of the
Customer, companies
MUST become
customer obsessed. “
- Forrester Research, Inc., October 2013
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Most Important Factors In A Satisfying Customer Experience
• Competent customer service
• Great website experience
• Quick response times & deliveries
• Friendly, helpful attitude
Global Voice of the Customer Survey, SDL, 2014
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Globally unify brand
value experience
Contextually
optimized
experiences to all
touch points
Consistently deliver
targeted, hyper-
relevant experiences
Behaviors of Satisfied Customers
Deliver rich
poignant interactive
media experiences
Customer Satisfaction
Recommend
website
70% Return to
website
52% Purchase
offline
51% Purchase
next time
61% Purchase
online
63%
:-)
How do brands in the U.S.
rate in customer experience?
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70
72
74
76
78
80
2005 2006 2007 2008 2009 2010 2011 2012 2013
Overall Satisfaction Trend
13
90
14
76
15
1
Point
+1.05% market
share growth
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Baby Boomers
1946 - 1964
Generation X
1965 – 1980
Millennials
Generation Y
1981 - 1997
Larger than Baby Boomers
3X as large as Gen X
455 million globally
$2.5 trillion in global
purchasing power by 2015
Half have annual income of
$83k and quickly rising
Millennials
• Think you don’t know how to market them
• Accept that some personal information will be collected
• Want discounts and freebies for engagement
• Want to shop in their preferred language
5 Truths for Tomorrow’s
Marketer…
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Will likely ignore emails from unknown brands
47% Are “most likely” to engage if they have previously
done business with you
Show understanding by building context-driven campaigns
Be strategic about how you collect and use customer data
Focus on fostering relationships, not just tracking lead numbers
2/3 think you don’t know how to market to them
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40% of Millennials can identify digital
information tracked by companies
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7x More likely to give personal information to a trusted brand
46% Share their data if it means more relevant offers
Get to know your customers, then target messaging
Overhaul systems preventing personalization
Offer value in exchange for the data provided
62% Are worried about personal data being used for marketing
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Millennials touch their smartphones 43x per day
64% Expect the experience to be the same regardless of channel
Ensure experiences are consistent across channels
Create a complete view of customers by bridging silos
Track channel interactions so you can optimize
67% Interact with two devices each day
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46% Of Millennials are more likely to buy in their own language
32% Speak a non-English language at home
• Make language part of your strategic go-to-market planning
• Know what languages your customers prefer (and use them)
• Map the experience for each language and optimize
Would choose to buy a product if information was in
their language* 75%
*Can’t Read, Won’t Buy, Common Sense Advisory, 2014
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Engage with customers in real-time
Target social efforts in areas where content is frequently discovered
Rethink your email strategy
The majority of millennial content
discovery happens on social networks
Millennials average 6 pieces of shared content via
social media each day
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Tomorrow starts NOW www.sdl.com/five-truths