Friday, July 7th, 2017 | 4 min read
Our marketing world is changing and many companies are struggling to adapt. Customers now have all the power, but brands don’t know how to deliver experiences that cater to their needs and interests.
According to a new report from Harvard Business Review Analytics Services, more than 80% of executives say delivering superior customer experiences is important to their organization’s success. Yet only 34% say they’re equipped to deliver those experiences.
That’s why Sprinklr partnered with top marketers from the world’s biggest companies to see how they’re navigating this marketing shift. Together, we released a new whitepaper that takes you inside the marketing strategies of leading organizations like Microsoft, IBM, and LVMH.
Let’s look at how three leading enterprises rewire their strategies to deliver better customer experiences.
CMOs are overwhelmed with data. It constantly accumulates from multiple sources in real time. Instead of viewing this data as a burden, marketers must use it to build more personalized customer experiences.
That’s why IBM uses one customer experience management platform to unify digital data and traditional data. This allows them to develop a unified view of the customer, and deliver tailored experiences across touchpoints.
As IBM’s Chief Marketing Officer Michelle Peluso said, “People now have rich digital lives on top of their physical lives. We as a brand need to be able to be present in the moment. In this new world, timeliness, agility, and humanity are critical.”
Eighty-nine percent of companies now compete primarily on the basis of customer experience. To stay ahead of the game, Microsoft built a Social Command Center, which pulls in 150 million conversations per year. Through this center, the brand listens to customer feedback, incorporates insights into the company’s products, and follows up with customized interactions. Microsoft support teams will even track and save conversations. So years later, when they release a relevant update, they can respond to each customer directly.
Grad Conn, General Manager and CMO of Microsoft USA, explained, “We’ve shifted from a mass broadcast model to a stimulus response model and the onus is on brands to spark a real, positive reaction that results in someone coming to their own conclusion that the brand is fun, trustworthy, and friendly.”
Companies need to shift from a brand-first mindset to a customer-first mindset. This isn’t always easy to do, especially when you need to get your entire organization on board.
That’s why executives at LVMH position this shift as part of a cultural phenomenon. And their brand can either be on the front lines or get left behind.
As Ian Rogers, Chief Digital Officer of LVMH, said, “We are a culture business, so if I can re-contextualize digital and marketing transformation as cultural transformation, I think there’s a lot to be gained. What we’re really doing is encouraging people to think not about the technology, not about digital, but about the cultural transformation and the customer experience.”
You don’t have to go through this marketing transformation alone. But you do have to start now if you want to survive this brand-new landscape.
That’s why marketers should look to those who are leading the charge. Top companies like Microsoft, IBM, and LVMH are laying the ground rules for how brands can build customer-first strategies. And they aren’t the only ones. In our whitepaper, we also feature first-hand accounts from executives at Nasdaq, Deloitte, and the Kellogg School of Management.
Take this opportunity to learn from their successes and start transforming your organization today.
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