Welcome to the third edition of TheCustomer QT (Quick Take). If this seems like a thin issue it’s only because the world is just now getting back to the business of business after a week of intense political distraction. For our part, we’re glad to be past it and looking forward to looking ahead. Hope you find value here.
TECHNOLOGY
CDPs “very important” for getting value out of customer data
Notable: “What’s striking, notes Schneiderman, “is that those who were able to make significant strides in data ingestion across multiple sources are much more likely to be very satisfied. Those who are opening that data up to other systems are much more likely to be very satisfied.” Those aligning their data to the customer journey and doing more cross-channel customer journey orchestration were also more likely to be satisfied.
How artificial intelligence may be making you buy things
Notable: It claims that nine times more people buy AI-suggested goods than those offered by traditional promotions, even when the discounts are 30% less.
Investing in Modernization: The New Wave of Customer-Centered Martech
Notable: While 89% of marketers say their current marketing technology enables omnichannel experiences, 68% stated they still need a custom platform.
DATA & PRIVACY
California just strengthened its digital privacy protections even more
Notable: Proposition 24’s provisions give Californians the ability to tell businesses not to use certain categories of sensitive information, including race, health, religion, location, sexual orientation, and biometrics. It makes more explicit that “do not sell” includes data shared between companies. And it triples fines for violations if the affected consumer is younger than 16 years old.
Why ethical use of data is so important to enterprises
Notable: According to a recent KPMG survey, 97% of consumers said they believed data privacy was important, and 87% thought it should be a human right, but 54% of respondents didn’t trust companies to use their data ethically.
This free service is a genius way to foil spam and protect your privacy
Notable: Given the chance, too many companies will abuse the privilege of having your email address, sending endless marketing messages without your explicit permission.
App Store data policies and privacy to become available in December
Notable: Apple has set a deadline for developers to include a ‘nutrition label’ for their respective apps. The details regarding data policies and app privacy will be a part of viewable information on the App Store and are set to go live on December 8.
CX
Smoothing Out the Customer Journey
Notable: “Contrary to traditional thinking, word of mouth is not ‘free’ but requires a lot of enabling marketing support.”
Intentional Customer Experience as North Star
Notable: “The classic ‘Who is our customer?’ question has suddenly become harder than ever to answer. . . . . Even businesses that had amassed great volumes of customer data before Covid-19 are finding themselves in the same cold-start position as businesses venturing into unknown markets or reaching out to new audiences.
Becoming Customer-Centric in the ‘Age of the Consumer’
Notable: According to a Market Pulse survey, the average business draws data from over 400 internal and external sources. These range from online platforms, consumer apps, CRM solutions, social media channels, POS systems, customer surveys, industry reports, product reviews, loyalty programs and more.
BRANDS
Burger King’s customer loyalty soars after its ‘Order From McDonald’s’ campaign
Notable: According to the survey, 90% of customers agree to increased brand loyalty for Burger King after reading the letter named “Order from McDonald’s”. 70% of customers confirm to have a positive change in perception for the fast food brand.
BEHAVIOR
Poised For Profit With Digital Customer Engagement
Notable: Virtual meeting attendees are typically only paying attention 23% of the time (the remainder of which is spent emailing, surfing the web, checking their phones, etc.).
STRATEGY
Why the CMO and CIO are no longer strange bedfellows
Notable: Understanding the customer is therefore central to both mandates. The CIO needs to connect technology capabilities all the way from the customer interaction back to the workload related to the customer, sitting on the chosen infrastructure platform. The CMO needs an entire profile of the customer, and the CIO builds the systems in order to create the profile.
RETAIL
The Most Wonderful Time Of The (Unpredictable) Year
Notable: 60% of the respondents said they expect to do some of their holiday shopping in-person, signaling that both brick-and-mortar stores and ecommerce are going to remain valuable retail channels.
ICYMI – You can find the past issues of TheCustomer QT here.
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