the age of customer

Marketing in the Age of

Customer

ROYA SAQIB, NADINE WALKER-MOONEY, MARANA AVANT

Key words: E-Commerce, Social Media, Age of the Cusomter, Truth-based Marketing, Customer

Intelligence, Customer Experience

INTRODUCTION

Business Disruption by Empowered Customers

Business Responses

Business Reinvention

History of Traditional Marketing

Practices

Business Intelligence

Data Mining and Data Analytics

Customer Intelligence

Target Market Segmentation

HISTORY According to David Cooperstein, et al in “Competitive Strategy in the Age of the

Customer”

1900Age of

Manufacturing

1960Age of

Distribution

1990Age of

Information

2010Age of the Customer

CUSTOMER POWER

“Our research indicates that customer power

in this Internet era is driven by three factors:

more options, more information, and simpler

transactions”

-G. Urban (2002)

CUSTOMER POWERE-Commerce

E-Commerce

Options

Information

Transactions

U.S. consumers are exposed to 5.3 trillion ad impressions per year

6.8 billion mobile subscriptions in place (7.1billion people on the whole planet!)

CUSTOMER POWERSocial Media

RESPONSE TO CUSTOMER POWER

“Where the buyer has full information about

demand, actual market prices, and even supplier

costs, this usually yields the buyer greater

bargaining leverage.”

- Michael E. Porter (1980)

Marketing in the Age of CUSTOMER

Traditional pure push marketing Focus on Trust-Based Marketing

RESPONSIVENESS

Be responsive

a) Listen,

b) Respond

c) Prevent

BUSINESS RESPONSE TO CUSTOMER

POWER

Develop effective social media strategies

a)Get a social media monitoring tool (Social CRM tools)

b)Know what data to extract and why (actionable data),

Turned data contextualized customer experience

Caution: Balance between too personal and too

superficial use of data

RESPONSE TO CUSTOMER POWER

Get your customers to advocate on your behalf

The most successful companies in the age of customer

will be those who craft customer relations and

experiences into their business strategies for a win/win

outcome.

References

Bigus, P. (2012). The Public Relations Box Office Flop. Richard Ivey School of Business, University of West

Ontario.

Cooperstein, D. e. (2013). Competitive Stratiegy in the Age of the Customer. Forrester Publication.

Porter, M. (1980). Competitive Strategy Techniques for Analyzing Industries and Competitors.

Surma, J. (1980). Business Intelligence: Making Decisions Through Data.

Urban, G. (2002). Wy is Consumer Power Growing and How Should Companies Respond? MIT Sloan.

Washkuch, F. (2011). Netflix Fixes What Was Never Broken. PRWeek, 8-8.

References

Glen, U. Interacting with Social Customers, 101, Why Is Consumer Power Growing and How Should Companies Respond?

Margaret, R. (Jan, 2013). Social Media listening, Retrieved from: http://searchcrm.techtarget.com/definition/Social-media-monitoring

Rosemary, C. (2011). Tread carefully with social media-based customer loyalty programs, Retrieved from:

http://searchcrm.techtarget.com/news/2240110333/Tread-carefully-with-social-media-based-customer-loyalty-programs

References for graphics:

http://unbounce.com/email-marketing/an-introduction-to-behavioural-email/

http://jesperlowgren.com/marketing-concepts/

http://www.entrepreneur.com/article/235413

http://nowmediagroup.tv/genuine-online-reviews-make-a-difference/

http://brandingtype.com/klm-royal-dutch-airlines/

Q & A