In episode 8 of TheCustomer News, Rafer and guests tackle the latest headlines, plus an exclusive interview with Mark Smith, CEO of Kitewheel, on the need and effect of transparent pricing in CX tech. All on the heels of Kitewheel’s latest announcement that could affect the way small-to-medium size businesses understand and engage with their customers.
Consumer targeting woefully unreliable
Some alarming findings in the world of marketing research. Studies show that research that relies on automation is having abysmal results. Apparently the deeper you target your audience, the less accurate you get. Targeting gender only in an online ad only has aa 42 percent success rate. And in age, that drops to 20 percent. And three attributes gender, age, and income the accuracy goes down to zero.
Because in our efforts to hyper-personalize messaging, we’ve somehow defaulted to thinking that this level of specificity is somehow going to get us better response. What this shows us though, is that sometimes – oftentimes – the juice just isn’t worth the squeeze.
Clubhouse is next big social media app
Have you joined Clubhouse yet? It’s where all the cool kids are and to prove it you have to be invited in. The audio-only app utilizes chat rooms with themes. Mike G, you brought me into clubhouse and I’m hooked. Mike, to me, this will replace talk radio and maybe even podcasting. Do you see any use for businesses on this platform?
I don’t know about replacing any existing media but Clubhouse’s uptake has been pretty dramatic. We host a discussion each week at 11:30 am ET and our attendance has increased over 1200% since we first launched it. That being said, Clubhouse is still something of a shiny object. We’ll have to see if it still sparkles this time next year.
Pandemic changed Traveler Loyalty
Loyalty is a driving force in most industries. Just not when it comes to flying anymore. Research shows 9 in 10 consumers say brands aren’t doing enough to earn their long-term business. And airlines that don’t allow cancellations or changes in the wake of COVID have their heads in the clouds.
Let’s be clear – there is still a LOT of brand loyalty out there but it has changed – a lot. If the data shows anything it’s that the pandemic created tectonic shifts in customer tolerances and expectations. What was once an acceptable response to a customer problem no longer is and consumer expectations are rising at historically high rates. All of which means that brands need to work harder to meet those expectations and that means working hard to understand them.