Now, We Enable You to Interpret and Motivate Customer Behavior in Real Time

By Jeanne Roué-Taylor

You’ve heard so many conversations by now about rapidly changing customer expectations, and as a marketer you know that mobile, social, and real-time technology are growing by leaps and bounds. Each can be a major challenge on its own, and the combination of factors is complex and becoming increasingly so each year. It’s exciting and sobering at the same time.

TIBCO Launches Its New Marketing Platform

But there’s relief in sight that responds to both problems at the same time and doesn’t ask marketers to cobble together partial solutions (with the risk and pain that brings). At the intersection of customer expectation and technology challenges, we’ve created TIBCO Engage™ to be the premier Software-as-a-Service marketing platform that enables businesses to interpret and motivate consumer behavior in real time, through personalized experiences and across any channel.

Yes, you can have it all.

TIBCO today launched TIBCO Engage to meet the increasingly complex challenges of understanding, personally interacting with, and retaining customers in today’s world. Those are commonly uttered phrases, but they haven’t been epitomized in one single platform before now. The two tasks of making complexity simple to manage internally and keeping it hidden from the consumer require a great deal of understanding of the consumer, technology, and smart engineering. That’s precisely what went into creating this new platform and we couldn’t be happier about the result.

Our customers are also expressing their thoughts on TIBCO Engage in very positive terms: “We look to actively captivate our best customers with the most relevant content and storytelling. TIBCO helps us to more effectively understand our customers by activity so we can talk about running to runners, skiing to skiers and climbing to climbers,” said Aaron Carpenter, vice president, marketing, The North Face. “Using TIBCO technology has helped us gain significant understanding of our customers to take those relationships to the next level. We are excited to use the advanced analytics options in the new TIBCO Engage platform.”

Savvy marketers know that transactional relationships with customers are no longer enough. Wen Miao, senior vice president at TIBCO, explains the TIBCO Engage value this way: “TIBCO Engage will empower marketers to move away from generic batch-and-blast marketing to personalized brand experiences across any channel. We believe TIBCO Engage will become the essential real-time marketing platform for every company to turn their customers into raving fans.”

We’re excited to launch TIBCO Engage and invite you to take a look at what we’ve built. From connectors, to a behavioral engine, interaction optimizer, loyalty management, social collaboration and communities, we think you’ll see a platform that cuts the risk and timeline of interpreting and motivating customer behavior in real time.

Download our whitepaper on right-time marketing to learn how you can deliver more timely, contextualized customer experiences.

To learn more, visit engage.tibco.com or email engage@tibco.com.

INFOGRAPHIC: Top 10 Marketing Trends for 2014

 

 

To learn more about TIBCO’s Top 10 Marketing Trends for 2014, download the whitepaper and watch the webinar.

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Top 10 Marketing Trends for 2014

LoyaltyLab.com

Modern Marketing Focuses on Actionable Analytics

by Jeanne Roué-Taylor

It would be really hard to overstate the changes happening in marketing as our world is immersed in burgeoning amounts of all types of data. We suddenly have data that allows us to measure marketing performance through platforms that accumulate historical and real-time data from mobile, web and in-store sources like never before in history.

Actionable Analytics

This definitely gives us visibility into how our campaigns performed, but there’s something more urgent happening that not everyone realizes—the need to see the marketing business from a new and powerful perspective. We need to understand the game before it even begins—before the campaign is executed—through actionable models and analytics that tell us what the rules are, where the game takes place, and how to play.

Three Areas of Understanding

The game is decided by three key areas of understanding that are critical to being competitive:

  • A focus on segmentation – Marketing segmentation is becoming more complex and more powerful. In a noisy world, great segmentation is the arbiter of who engages with the right messages at the right time.
  • The power of propensities – There are far more propensities than simply the propensity to spend or act on a particular offer. Marketers need to get to the heart of why customers attrite, act on social media and a host of other behaviors.
  • A culture of test & learn – Measuring the effect of a hypothesis on a segment of the network allows us to understand the impact of rolling campaigns out to a broad audience.

These trends mean that advanced analytics aren’t simply a nice-to-have. They’re a key part of being competitive and also building brand loyalty, customer retention and brand advocacy.

Upcoming Actionable Analytics Webinar

Learn detailed best practices in actionable analytics in our joint webinar with TIBCO Spotfire on Thursday, May 22nd.

You will learn:

  • The types of analytic skills expected of nearly every marketer in today’s digital and big data world
  • Eight key metrics that get to the heart of measuring loyal customers
  • How to most effectively present information visually and dive more deeply for greater insights
  • Which mathematical models have the greatest impact on success
  • How to separate what causes behavior versus just knowing that it correlates
  • What is the difference between an actionable segmentation versus a descriptive segmentation

Click on the link to register today for our May 22nd webinar, Marketing Analytics: What You Need to Know Now.

Customer Experience Hinges on What You Know and When You Know It

by Jeanne Roué-Taylor

Today’s marketers needs to be focused intently on all of the data that can be gathered about their customers. This modern reality means that data’s two dimensions—”what we know” and “when we know it”—take on a completely new and higher level of importance. This is exactly why CRM falls short when it comes to capturing interaction with the customer in a way that tracks and improves the relationship.

Marketing Is About the Context

The limited data model of traditional CRM systems lacks the context required to engage customers in the best ways possible. That’s because the data available to marketers today isn’t simply historical interaction like transactions. With the data generated by mobile, Web, social and location technology, we can have the context of the customer’s current moment, where decisions are being made, enriched by the over-the-shoulder information from systems like CRM.

Managing Data’s Two Dimensions

This data coming from all directions presents an enormous opportunity for marketers to know more and to know it much more quickly than ever before. Excellent management of data’s “what” and “when” dimensions makes customer engagement a carefully analyzed, modeled, and orchestrated event, instead of an unwanted intrusion. It has relevance and value rather than being noisy and ignored.

Order In Data Chaos

If you’ve ever been to an air show, you know that the planes involved appear to be on the edge of chaos as they make high-speed passes and other stunts. Marketing data today is the same carefully orchestrated but high-speed exercise that we see in the sky. As marketers expand what they know and shorten the time to know it, the customer feels a seamless and immediate experience with the brand. With the right technology, interacting in the “now” moment, despite the noise, looks elegant and easy. Most importantly, brands know what to expect in real time and what will likely happen next.

To learn more, visit www.loyalylab.com/expertise

Customer Experience Truth: Eighty Percent Right Better Than Three Months Late

By Jeanne Roué-Taylor

There’s a truth in customer experience management brought about by rapidly changing technology—marketers are better off 80% right today than 100% right three months from now. Today’s marketing math delivers better results from fast turnaround with good data rather than perfect data that takes far too long to assemble. Traditional marketing approaches looking for perfect data segments simply aren’t competitive any longer.

Intersection of Big Data and Real-Time Information

The math has changed because of a combination of new technologies like mobile, social, and in-memory storage, all creating and managing enormous amounts of data that feeds remarkably powerful analytics. At the intersection of Big Data and real-time information, marketers are finding that analytics changes the game of interactions in the moments that count, in the context of the customer.

Visualization and self-discovery performed against a growing list of available digital information shows patterns we could never see before that allow us to test and learn with every interaction. But there are challenges to taking full advantage of marketing’s new math. The biggest challenge comes from the fact that customer data is found in many places, never in just one.

Customer Systems Evolved Separately

As computerization of commerce progressed over the past few decades, the many things we need to know to provide the best customer experience evolved separately. Information today is stored in many disparate systems, which are even located both on and off premise. Waiting for change won’t help—no monolithic system is going to show up that can replace what already exists, and anything that does is too rigid to be useful as consumers and markets evolve rapidly.

Connecting The Dots

This is precisely why integration is hot technology for marketers, feeding analytics with all kinds of current and historical information that allows marketers to be mostly right very quickly—right enough and fast enough to make a difference.

Discover how companies are making up with volume and speed what they lack in accuracy and completeness. Download the whitepaper Top 10 Marketing Trends for 2014.

Everyone Shops for a Different Reason

By Jeanne Roué-Taylor

Customers are rarely a homogenous group. They differ greatly in revenue potential, levels of loyalty, and frequency of contact. What makes loyalty work, therefore, is an ability to segment your customers using powerful analytics. Segmentation allows the right amount of effort and right offers to be applied in the right moments to the right customers.

Knowing enough to segment properly takes powerful analytics. Unless analytics are a key part of your loyalty platform, odds are you won’t be able to do much more than old-fashioned transactional loyalty.

But segmentation isn’t such a simple thing. There are common segments based on how people shop—like price or convenience—but below those broad categories, there are more subtle ways to segment based on what is required to engage a customer in the right moment with the right offer. This is the description of behavioral segmentation, and takes a capability to test and learn that wasn’t available until recent times.

Test and Learn

Test and learn provides a way to find segments that may not otherwise be visible to marketers. By choosing existing segments and testing offers on a smaller scale, new segments can be developed and marketed to in a larger way. The opportunity to test and learn is a benefit of a customer loyalty platform that includes powerful visual analytics.

In the end, everyone shops for a different reason. Marketers armed with the tools to not just segment along traditional lines of age, race, and other factors—but also to test and learn—have a distinct advantage over those who don’t.

 

Analytics at the Core of Customer Engagement

By Jeanne Roué Taylor

There’s so much customer data around us, and it gets richer and faster each and every day. People are talking non-stop about Big Data and its many uses in various parts of the market. But what’s not really getting as much attention is how analytics are used to make loyalty platforms effective for meaningful customer engagement.

Powerful analytics are on the critical path to understanding customers and when to engage, something we call right-time marketing. Right-time marketing is more nuanced than real-time marketing because it takes into account the data that supports the best time for the right kind of customer interaction. It isn’t a simple action-reaction cycle that turns customers off and can even come across as creepy and opportunistic.

Analytics Done Right

Analytics, used appropriately, allow a brand to understand many aspects of customer engagement, including:

  • Social media likes, shares, and follows
  • In-store, website, and mobile interactions and their context
  • Customer service history
  • Purchase history
  • Customer preferences

By understanding this kind of data, which is often ignored or unavailable because of silo’d systems, brands understand exactly when, where, and how to interact with their customers. This changes the model for customer engagement, and makes the customer much more than a pitch and transaction.

It Takes a Platform

It takes a loyalty platform to bring together, analyze, and respond appropriately to all of the fast-moving, rich data available today. Are you ready?

Learn more at http://www.loyaltylab.com/platform.html and watch the webinar, The Power of Analytics to Drive Loyalty.

Hey Marketers, Insight Isn’t Much Good Without Action

By Jeanne Roué Taylor

The enormous amount of ink being spilled around Big Data often includes the phrase “amazing insights.” At the same time, there’s plenty being said about the need to know and respond to your customers in the timeframes that matter, aka customer loyalty management (CLM).

customer loyalty management

While these customer loyalty management ideas seem intuitive, too often, the ways we gain insights into customer loyalty aren’t directly connected to the action side of the equation. This happens either because the technology that supports insight-to-action or the skills/individuals required to do this efficiently and effectively are artificially separated…or both.

The latency or customer blindness this creates is what differentiates great customer loyalty management from the mediocre. So what can be done to make insight turn into actions?

Model-Driven Data

Models are great tools for bringing together diverse data sets and preventing insights and actions from “falling through the cracks.” A great model brings together data from several sources, feeds analytics, makes predictions, enables test-and-learn scenarios, and allows the organization to adapt as data, channels, and other factors change over time. In a nutshell, models support an organization’s ability to be dynamic and responsive in their customer loyalty management.

Meaningful Analytics

Just as important as the model is the ability to spend less time on reports and dashboards while increasing the transparency of program performance. That can only be done when the marketer’s toolset can dynamically segment and show purchase propensities. Segmentation isn’t a new idea, but the ability to adapt segments and prediction to what’s happening in real time is very ‘new-generation’.

Fast Execution

As we move closer to the moment of decision, thanks to mobility and faster data, our ability to know, predict, and then respond must also be fast. A customer is only on the website until they’re not, in the store until they’re not, and waiting for your interaction until they’ve moved on to something else…or engaged with your competitor.

Models, analytics, and execution are core components of today’s capable customer engagement platform. Any less is too slow and lacks coherence within the brand and worse, across to the customer. Are you ready?

Real-Time Marketing or Right-Time Marketing?

by Ted Rubin

Webinar 7/18 – sign up now! Right-Time Marketing vs Real-Time Marketing

Real-time marketing is all the rage, though as TIBCO Loyalty Lab’s David Rosen is quick to point out, brands really need to be focused on right-time marketing. “The speed and reaction of marketing needs to be relevant when the consumer is discovering, shopping or sharing,” he said.

Brands need to act with relevance and timeliness without crossing over into creepiness, Rosen warned. “You need to have customers’ permission to collect data and contact them in the time of decision-making. When that relationship is within a loyalty program, it’s far less creepy,” he explained. I agree because when the relationship exists, and it is documented via membership, the consumer feels a connection that otherwise may not exist.

Loyalty and rewards may be the first thing to get right first, he suggests, noting that “…it creates the permission-based relationship between a brand and its consumers.” There’s a value exchange there, he explained; customers have consented and contributed to the brand-consumer relationship. This is a great point because in many ways it makes it easier for the marketer than initially spending time on relationship building without a guarantee the C-suite often requires to fund relationship building.

The collection and analysis of the data available in a loyalty relationship allows marketers an edge in real-time marketing, with greater insight into which messages or offers are most likely to influence a customer in that critical moment. But keep in mind… data and analytics can’t replace judgment. Along with data, be sure to let judgement, learning, inspiration be your guides, not simply numbers.

Simple, Compelling Offers for the Win

The future of offers and real-time marketing is simplicity, according to Rosen. “The best rewards program is simple enough that any employee can describe it. It’s compelling enough that people will naturally want to sign up,” he said, noting that Sports Authority is a perfect example. They offer 5% back on all purchases, an offer everyone can comprehend and appreciate. It’s simple to use and doesn’t require that the customer understand a complex spend and earn program. I find this so incredibly important… ease of use and participation is key!

“If you can achieve high rates for enrollment and out of the gate, you’ll get immediate attention from senior management. If management doesn’t care, you don’t get buy-in and won’t have their support and budget to effectively run your program,” Rosen warned. Simple, compelling offers appeal to customers and can win the support of internal decision-makers.

Marketers are realizing the potential of next generation marketing tactics and tools, such as game mechanics, to essentially stimulate activity, add an element of fun, and change people’s behaviors in different ways. Game elements also help to cement the relationship by keep people involved and engaged.

“In this realm, you’ll see offers like group rewards, where consumers enter as a group to win prizes,” Rosen explained. “Retailers can link a number of behaviors and get consumers to accomplish certain tasks, ie: wearing a certain product and having a picture taken and posted to Instagram.”

Communication = Relationship Management

Better communication with loyalty program members means much more than simply delivering the content they want in a format they prefer. Brands needs to use the information gleaned from the program and other data available to them—through the website, email marketing, social channels and in-store—in order to effectively manage their customer relationships. When your customers are engaging via loyalty initiatives you have the opportunity to interact and engage them on a more personal level.

Are your customers shopping online, making returns, opening or responding to emails, or taking other actions from which you can draw insight?

Customers have come to expect that brands will deliver messages and offers relevant to their needs. This is the power of real-time marketing—the ability to act almost instantly on customer insights. Easing communication means understanding the needs of each customer and communicating the right message to them, at the right time.

It’s so important to keep in mind that right-time marketing means making a connection that goes beyond simply time and place, but takes it a step further and builds the connection… and therefore the relationship. Consumers desperately want to feel heard, connected, and valued, so remember to take it beyond the simple offer to engage and build Return on Relationship.

Analytics

Information has exploded, between the type of information we keep stored in databases —such as past purchasing behavior or past flight behavior—and the types of insights gleaned from activities happening in real time. “Customer loyalty marketing is not really marketing to people in real time, but using events, happenings, behaviors that are happening in real-time in order to very quickly make decisions about what to do next,” Rosen explained.

Analytics are critical for taking these masses of real-time and stored (historical) data and identifying patterns, in order to determine what to do next.

“The other piece of analytics that is incredibly compelling is that it gives the creative marketer the ability to be more creative,” Rosen explained. “You don’t have to get it right. You just need to have a great idea that it testable. If you have a great idea, you can make a moderate investment and put it in front of a limited amount of consumers and test that; you can measure the impact it had on people.” Great analytics takes away the risk of failure, he noted. Again I will add that analytics can only get you so far, it is easy to interpret data to mean what you are looking to hear, so be sure to let judgement reign.

Powerful reporting helps communicate the value of the program across the organization, not just to senior management, but across other teams, logistics partners, creative partners, etc. Dashboards, reporting and success metrics have become incredibly powerful and are critical for customer loyalty management.

Rosen’s recommendations are designed to help marketers move beyond the traditional loyalty program/offers model, to a relationship-based, mutually rewarding customer loyalty marketing solution. So use the all-important data, but remember the value in the data is in deepening the relationship connection.

“The whole idea is, don’t overcomplicate things,” Rosen advised. “Create a simple program with a compelling hook—this will become your canvas for testing and refining these other amazing things. That doesn’t mean it’s so vanilla people won’t sign up. But once you have that permission-based relationship with your customers, you can really do anything if you’re a good marketer.”

How effective is your brand at real-time marketing, using current and historical insights to influence purchasing behavior at the right time, in the proper channel, and building true relationships at the same time? Feel free to share your thoughts in the comments.

Hear more from David on right-time marketing and reimagining loyalty in the webinar, Customer Loyalty Management: Marrying the Art & Science of Loyalty.

Read more by Ted on his blog, and follow him @tedrubin and @R_onR.

Finding the Holy Grail of Marketing

by Jeanne Roué-Taylor

The remarkable amount of change in the consumer world is ushering in a new definition of loyalty. What have long been static programs of points and plastic cards are becoming dynamic, individualized and much, much more engaging.

The old way of simple ledgers and confusing redemption schemes was a fundamentally flawed proposition. Customers were able to accumulate points but struggled to keep track of and gain real value in return. Something had to change.

Enter Customer Loyalty Management

Customer Loyalty Management is the new, holistic approach to driving higher levels of loyalty to brands. It puts a focus on what have emerged as the four ‘pillars’ of loyalty:

  • Loyalty programs
  • Wider event streams
  • Marketer-driven relationship marketing
  • Test & learn

Each of these four is key to finding the ‘Holy Grail’ of marketing: creating ‘fans’—people who think of a brand first and represent a much higher lifetime value. But today’s technology combines social, mobile and analytics to create new ways to drive another layer atop the four pillars, including higher trust, greater insight and relevance, and recognition leading to virtuous cycles of increasing value.

These are lofty goals that would be impossible without the new approach in technology and strategy offered by Customer Loyalty Management.

Aligning the Tools and Techniques

As consumers’ buying patterns change, the tools and techniques of loyalty need to change alongside them. There are four specific areas where the tools and techniques align with the four pillars and matter the most for the new Customer Loyalty Management:

  • Social
  • Mobile
  • In-store
  • On-line

Each of these areas is impacted by those changing buying patterns, and there’s an opportunity for brands to avoid disruption and benefit from the shift. These points of personal and digital engagement are the new realities of letting consumers engage in ways that increase their experience and create true fans.

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