the age of customer
TRANSCRIPT
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Marketing in the Age of
Customer
ROYA SAQIB, NADINE WALKER-MOONEY, MARANA AVANT
Key words: E-Commerce, Social Media, Age of the Cusomter, Truth-based Marketing, Customer
Intelligence, Customer Experience
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INTRODUCTION
Business Disruption by Empowered Customers
Business Responses
Business Reinvention
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History of Traditional Marketing
Practices
Business Intelligence
Data Mining and Data Analytics
Customer Intelligence
Target Market Segmentation
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HISTORY According to David Cooperstein, et al in “Competitive Strategy in the Age of the
Customer”
1900Age of
Manufacturing
1960Age of
Distribution
1990Age of
Information
2010Age of the Customer
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CUSTOMER POWER
“Our research indicates that customer power
in this Internet era is driven by three factors:
more options, more information, and simpler
transactions”
-G. Urban (2002)
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CUSTOMER POWERE-Commerce
E-Commerce
Options
Information
Transactions
U.S. consumers are exposed to 5.3 trillion ad impressions per year
6.8 billion mobile subscriptions in place (7.1billion people on the whole planet!)
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CUSTOMER POWERSocial Media
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RESPONSE TO CUSTOMER POWER
“Where the buyer has full information about
demand, actual market prices, and even supplier
costs, this usually yields the buyer greater
bargaining leverage.”
- Michael E. Porter (1980)
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Marketing in the Age of CUSTOMER
Traditional pure push marketing Focus on Trust-Based Marketing
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RESPONSIVENESS
Be responsive
a) Listen,
b) Respond
c) Prevent
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BUSINESS RESPONSE TO CUSTOMER
POWER
Develop effective social media strategies
a)Get a social media monitoring tool (Social CRM tools)
b)Know what data to extract and why (actionable data),
Turned data contextualized customer experience
Caution: Balance between too personal and too
superficial use of data
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RESPONSE TO CUSTOMER POWER
Get your customers to advocate on your behalf
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The most successful companies in the age of customer
will be those who craft customer relations and
experiences into their business strategies for a win/win
outcome.
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References
Bigus, P. (2012). The Public Relations Box Office Flop. Richard Ivey School of Business, University of West
Ontario.
Cooperstein, D. e. (2013). Competitive Stratiegy in the Age of the Customer. Forrester Publication.
Porter, M. (1980). Competitive Strategy Techniques for Analyzing Industries and Competitors.
Surma, J. (1980). Business Intelligence: Making Decisions Through Data.
Urban, G. (2002). Wy is Consumer Power Growing and How Should Companies Respond? MIT Sloan.
Washkuch, F. (2011). Netflix Fixes What Was Never Broken. PRWeek, 8-8.
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References
Glen, U. Interacting with Social Customers, 101, Why Is Consumer Power Growing and How Should Companies Respond?
Margaret, R. (Jan, 2013). Social Media listening, Retrieved from: http://searchcrm.techtarget.com/definition/Social-media-monitoring
Rosemary, C. (2011). Tread carefully with social media-based customer loyalty programs, Retrieved from:
http://searchcrm.techtarget.com/news/2240110333/Tread-carefully-with-social-media-based-customer-loyalty-programs
References for graphics:
http://unbounce.com/email-marketing/an-introduction-to-behavioural-email/
http://jesperlowgren.com/marketing-concepts/
http://www.entrepreneur.com/article/235413
http://nowmediagroup.tv/genuine-online-reviews-make-a-difference/
http://brandingtype.com/klm-royal-dutch-airlines/
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Q & A