How does reinventing your business using technology create a real impact on your balance sheet? Because more than half of consumers will switch to another brand if they are not satisfied with the experience your company provides.
Building powerful customer experiences takes much more than pretty visuals: but it doesn’t have to be a headache. Investing in the right tools (such as a CRM system that is adapted and tailored to your business practices) will go far in uniting your IT, sales and marketing teams and streamlining your business practices. Once these digital foundations are in place, it becomes possible to incorporate an inspiring brand story and engaging journey for your target audiences. In today’s competitive market, the chances of successfully competing on consumer experience without advanced tech support are slim.
FROM TRADITIONAL ADVERTISING TO EXPERIENTIAL MARKETING
Case Study: A Playful Twist on Premium Bottled Water
To coincide with the start of the summer season and the launch of its new bottle design, Evian came up with a fun idea that did not rely on traditional marketing techniques. Consumers in certain areas of New York were encouraged to tweet to the official Evian account using #evianBottleService. In return, they would receive a personalised delivery from two company ambassadors on Evian-branded bicycles: one to present the Evian bottle on a silver tray, the other to offer the recipient a few moments’ respite in the shade of an umbrella. Evian also partnered with tennis sensation Maria Sharapova; who would be serving a bottle of water to one lucky consumer. The campaign increased sales by over 5% for the New York area.
CUSTOMER EXPERIENCE DRIVES BUSINESS VALUE
Great customer experience is about giving consumers what they love, when they need it, and where they need it. It requires a seamless transition between social platforms and email blasts and your website (or physical store). Companies that emerge as customer experience leaders are those that prioritise conversion rates by being journey-focused. They also empower their talent by providing them with automated workflows and communication processes that facilitate cross-team collaboration. There are four main components common to companies who successfully undergo these transformations (source: Blirt): clear communication of priorities; strong commitment; the necessary IT systems and the right talent.
At IMS we know that in today’s market, customer experience creates more business value than simply brand awareness. A smaller but engaged fan base is a commercial advantage compared with a larger, disinterested following. To illustrate, a 2015 study by Harvard Business Review shows that brand valuations over a decade decreased by half, while the value of customer relationships doubled in the same period.
Content is a key component for companies looking to build their brand and convey a clear message to consumers, and your own content marketing strategy might not be as effective as you think. By understanding the latest content trends, it’s possible to refine your approach to create content that effectively converts leads to sales. This applies both to B2C and B2B. For example, did you know that over half of company decision makers prefer to watch video content than read an article?
BECOME A BRAND THAT DELIGHTS AND INSPIRES CUSTOMERS
We help companies compete in the experience economy. We turn clients into passionate brand advocates and help nurture community followings. Engaged customers are active customers. By building an IT ecosystem that empowers your sales and marketing teams, our clients can focus on delivering on customer experience based on a data-driven digital strategy. We will work with you and your existing systems to audit your technological infrastructure and to build a comprehensive roadmap that reflects and supports your wider business goals – whatever your current state of digitalisation is at.
If you would like to chat with us about how we can help reinvent or modernize your business using technology, why not book a call at firstname.lastname@example.org?
About the Author
Manuela leads the Marketing division at IMS, advising clients on branding and market positioning in both Europe and Asia.
Prior to joining IMS, Manuela worked in financial regulation and compliance. Past experiences include representing France in roundtable discussions in Brussels for the European Venture Capital Fund (EuVECA) Regulation.
She obtained her LL.B (Hons) at UCL before graduating from Sciences-Po, Paris, with a Master’s in Financial Regulation.
Connect with Manuela Burki on LinkedIn