Customers New Voice: Extreme Relevancy and Experience Through Volunteered Customer Information

Customers New Voice: Extreme Relevancy and Experience Through Volunteered Customer Information

By: John S. McKean (author), Dan Bachrach (author)Hardback

1 - 2 weeks availability

Description

Find out how to reap the benefits of motivating and engaging the new, direct customer voice The Customer's New Voice shows businesses how to motivate and transform directly volunteered consumer knowledge into profitable insights, enabling a new echelon of marketing relevancy, customer experience, and personalization. With a deep look at the inner workings of how a modern generation of business innovators are tapping into the fresh opportunities with the customer's new voice, this book describes how businesses are transforming "inference-based" predictions of purchase intent with direct consumer knowledge of their actual intentions and buying context. The result: An untouchable/unprecedented level of offer relevancy, experience, and personalized service levels. Those offers range from the most basic app model of "Give me your physical location, we'll find the best Thai restaurant near you, and give you an instant coupon" to a more complex model such as an Electric utility value proposition: "We'll give you discounts to charge your Prius during certain times to help us optimize our grid efficiency while allowing Toyota to monitor and optimize your battery to enable Toyota's R&D and customer experience enhancement." Forty case studies detail proven approaches for directly engaging the new consumer, showing companies how to take advantage of rapidly evolving personal technology smart phones, homes, vehicles, wearable technology, and Internet of Things and the new sharing culture to collect the higher value "intentionally/ discretionarily" shared information. Readers gain access to a robust tool set including templates, checklists, tables, flow diagrams, process maps, and technical data schematics to streamline these new capabilities and accelerate implementation of these transformational techniques. Ninety percent of the data that businesses use to determine what they sell or how to personalize a customer experience results from consumers unintentionally volunteering "indirect" data; however, this type of data has less than 10 percent accuracy. This low effectiveness also necessitates up to 70 percent of a business's cost infrastructure. Direct consumer knowledge is now available and boasts up to 20-50 percent accuracy, yet businesses remain anchored in the old "indirect" competencies. This book helps companies integrate compelling sharing motivators and controls for consumers to feel motivated and safe about directly sharing their product and experience desires, providing the ultimate market advantage. * Learn how to catch up to the new digitalized consumer * Leverage direct consumer information from current megatrends * Navigate privacy's current and future metamorphosis * Unlock the untapped value of Big Data's true enabler Little Data Parsing "incidentally" volunteered data has been stagnant for decades due to the capabilities and expectations of a new generation of enabled consumers The timeless reality is that any level of investment in computing power, data, and analytics will never approach their full ROI potential without interfusing the direct, intentional insights from the consumer. If today's forward-thinking companies want to profitably engage the new consumers, they must learn the secrets of motivating and safeguarding this new potential of customer transparency. The risks of not engaging these new consumer voices? Irrelevancy and Silence. The Customer's New Voice shows businesses how to fulfill the promise and caveat of the new consumer: "If you make my life easier, reward me, and respect my shared information: I will tell you my secrets."

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About Author

JOHN S. MCKEAN, author and executive director of the Center for Information Based Competition, provides thought leadership to businesses to achieve a mastery level of customer information and interactions ranging from human-to-human to social network and mobile conversations. McKean also created and moderated Teradata's largest online global community for Big Data, B2C/B2B Marketing, and advanced web analytics.

Contents

Foreword xv Preface: New Voice, New Competencies xix Acknowledgments xxi PART I DAWN OF THE NEW CUSTOMER 1 CHAPTER 1 New Information Masters 3 Informed 4 Sharing 4 Mobile 4 Future Masters 8 Notes 12 CHAPTER 2 Power and Transparency 15 Absolute Power 15 New Transparency 16 Note 19 CHAPTER 3 Age of Sharing 21 Historical Sharing Tools 21 Sharing Statistics 22 Intentional versus Incidental 26 Value of Intent and Context 29 Science of Consumer Sharing 30 Notes 42 PART II NEW VOICE INNOVATORS WIN?]WIN 45 CHAPTER 4 Yesterday s Indirect Information Model 47 Yesterday s Model 47 Legacy of Indirect Information 50 Privacy Not 53 Notes 57 CHAPTER 5 Emerging Customer s New Voice Business Information Model 59 Customer?]Direct Information Model 59 Forces Driving New Voice Engagement 62 Direct Competencies Required 66 Unlocking Consumers Intent 71 Notes 96 CHAPTER 6 Today s Customer s New Voice Vertical Industry Innovators 101 Industry Innovators (Vertical) 101 Notes 143 CHAPTER 7 Horizontal Industry Innovators 147 Collaborative Consumption (Sharing Your Stuff) 147 Quantified Self 151 Wearable Technology 155 Mobile Health 156 Internet of Things 166 Triangulated Personal Information 168 Sensor Technology 168 Virtual Reality 178 Augmented Reality 179 New Customer Information Industry (Consumer as Stakeholder) 182 The Customer s Voice 209 Notes 210 CHAPTER 8 Practical Guide: How to Leverage the Customer s New Voice Today with Dr. David Schrader 213 Scenario 1: Jeff s Shopping Trip 213 Scenario 2: Jill s Grocery Shopping 214 Overview 215 Strategy 216 Marketing and Sales 220 Customer Service 224 Information Technology 228 Notes 233 PART III ENGAGING TOMORROW S NEW VOICE 235 Notes 238 CHAPTER 9 How Consumers Will Buy Tomorrow 239 Selling Reincarnated as Buying: New Buy/Sell Process 240 Advertising Inversion 245 Notes 248 CHAPTER 10 New Privacy 249 Government/Advocacy Personal Data Initiatives 251 Pivotal Personal Data Protection Initiatives 257 Pivotal Business Event Time Line 271 Notes 275 CHAPTER 11 Future Consumer Data Ecosystem 277 Consumer as Information Stakeholder 277 Mature Consumer/Business Information Sharing Models 278 Walking through the Model 279 Three Key Components Enabling the Personal Data Ecosystem 283 Frameworks: The Major Ecosystem Governance Mechanism 284 Volunteered Customer Information Service Characteristics 289 Personal Information as a Sovereign/Monetized Asset 291 Personal Data Ecosystem 294 Notes 304 About the Author 305 Index 307

Product Details

  • publication date: 14/11/2014
  • ISBN13: 9781119002321
  • Format: Hardback
  • Number Of Pages: 352
  • ID: 9781119002321
  • weight: 558
  • ISBN10: 111900232X

Delivery Information

  • Saver Delivery: Yes
  • 1st Class Delivery: Yes
  • Courier Delivery: Yes
  • Store Delivery: Yes

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