In this installment of TheCustomer QT: Calibrating the value of customer loyalty, Sometimes personalization isn’t, Spotlighting CX Pioneers, The case against sticky notes, and Looking beyond the client.
Happy skimming!
LOYALTY
How Big Data can drive hotel value and loyalty
Quick-Take: Leading global brands have recently attributed between 30% and 60% of their business to loyalty members. In the U.S. alone, loyalty‐related bookings accounted for more than 50% of the total hotel bookings in 2019, according to Kalibri Labs.
What’s in store for Retailer Loyalty programs?
Quick-Take: 86% of retailers that offer benefits within the first week say their loyalty program members shop at least once a week. That number goes down to 63% when retailers provide benefits within the first month.
AI
Enhancing a Marketing Strategy with Artificial Intelligence
Quick-Take: “Just because we have these tools which can create and personalise, it doesn’t mean that they are always giving value. Personalisation often isn’t actually that personal.”
CX
Female CX and Technology Pioneers to Follow in 2021
Quick-Take: Let’s take a closer look at five female leaders in CX tech you can follow to stay connected to the field’s most insightful leaders and active trailblazers.
Digital CX Tops Retail Priorities
Quick-Take: In fact, focus on the holistic customer experience remains paramount and is shaping many retailers’ technology decisions, with 67 percent of retailers looking to expand and enhance the customer experience in 2021.
Common and Enormous Mistakes with Customer Experience Programs
Quick-Take: Too many CX programs are launched based on what people inside the organization want or think they know. One sign of this problem is when leaders or employees are locked into a room with sticky notes and asked to devise a customer journey based on what they think their customer wants.
Why marketing can no longer ignore customer experience
Quick-Take: Over the past year, people have come to expect businesses to remove as much friction as possible from the experience of visiting them.
Is Your Customer Lost?
Quick-Take: Studies report effective customer journey mapping results in an average increase of marketing ROI of 54 per cent, and is now more effective than A/B testing. Customer journey mapping also increases upsell revenue by 56 per cent.
Enhancing CX Along Your Digital Maturity Journey
Quick-Take: After all, CX is simply the reimagination of an organization’s operating model, where the customer is at the center of the model and digital innovation is the catalyst that brings the customer and the organization closer.
DIGITAL TRANSFORMATION
Digital transformation: 5 new realities
Quick-Take: The first few months of COVID-related lockdown saw companies’ digital communications strategies accelerate by six years – and nearly 80 percent saw increased budget for digital transformation, according to a study by Twilio.
RETAIL
Why Fashion and Retail Better Prepare Now for Data Privacy Laws
Quick-Take: Even though consumers want a Google search to give them the best results for a particular product, they don’t want Big Tech companies tracking their every move.
How the pandemic changed fashion retail forever
Quick-Take: The impact on fashion retail has been seismic: sales plunged 75.7% and 49.3% in March and April year on year, the Office for National Statistics (ONS) reported. By the end of the year, clothing sales were down 25.1% on 2019, making fashion the sector “worst affected by restrictions”, said the ONS.
BRANDS
Macy’s touts new media network
Quick-Take: The Macy’s Media Network can create a “closed-loop analysis” that “won’t give up until the ads work as hard as they can to generate online & in-store sales for your business.”
EX
Digital enablement for employee enablement
Quick-Take: It takes highly engaged employees to embrace change of any kind, but especially behavior and habit changes implicit in digital adoption.
DESIGN THINKING
Humanity-centered design
Quick-Take: “Problem finding comes before problem solving,” they observed. Designers should look beyond the client’s brief, and immerse in the problems of the client’s clients and customers. “Your client’s clients are more important than your client,” they evocatively described.
Find past issues of TheCustomer QT here.
Photo by Steven Lasry on Unsplash.
