Sales heads would always want to get the best returns on investments. For this, they rely on data analysis and forecast reports to close the gaps in the sales pipeline. A lot of times, adequate data is not available. In spite of the best of intentions, the CRM reporting tools are often flawed due to them being filled out by sales reps themselves. Management consulting giant Bain has experimented with several suites and applications, but the one best suited has been found out to be Microsoft’s Workplace Analytics earlier known as Volo Metrix. This suite is used in three main circumstances which are coverage model design, sales resource to market opportunities alignment and identification followed by adoption of behaviours most conducive to sales growth. One major finding recently was that a lot of field personnel were not providing bang-per-buck. Even though more expensive than office staff, the productivity was lower, so many positions got slashed resulting in savings of US$ 40 million.

Source:http://www.bain.com/publications/articles/the-analytics-of-sales-time-well-spent.aspx

Uploaded Date:27/06/2017

In a recent professional blog, ten different customer types were identified along with tactics for brands on keeping each type onside. The first such type were the pioneers. They adopt early and are trend setters for others to follow. Since they follow influencers on social media, digital marketing using such platforms is the best way to nurture them. Many are influencers in their own field, so bringing them onside has further advantages. The practical purchasers make purchases not out of their love for shopping, but simply because they need to do it. Online shopping is best suited to them, but these platforms must be easy to use and not have lengthy forms to fill at any cost. There are social media fans who follow all latest trends of Facebook, Instagram, Pinterest and Twitter. For them, the obvious method is using social media to the hilt. Researchers are ones who scan ratings and reviews, contrast product features and even compare the same product over different platforms. As they are well researched, thus they must be provided insightful FAQs, images and how-to videos. They must also be encouraged to share their knowledge via feedback or reviews. To cater to smart phone addicts, brands must have in place a mobile friendly website, where all forms of browsing is possible. They must even invest on in-store apps. Wish-list-ers are ones who take time to purchase, but create lists that they would want to acquire. Since Pinterest is a popular platform for them, quality images must be used on company handle there. A bit of nudging is needed for this segment. Discerning shoppers do not trust brands or platforms easily. They must be nurtured over time using loyalty schemes or reward points. To attract bargain hunters, the opportune moment must be seized when one’s prices are lower than competitors’. Cautious consumers get put off easily, and do not appreciate much change. For them, the commitment to payment security must be highlighted and user testimonials be displayed. Online butterflies are those who frequently sift through shopping sites but are quick to abandon them due to low concentration spans. A visually appealing SEO must be curated for them, so bounce rates may be kept the lowest. Frequent email reminders need also to be sent to them.

Source:http://www.marketingdonut.co.uk/online-marketing/ecommerce/ten-customer-types-and-how-to-win-them-over

Uploaded Date:27/06/2017

Providing unforgettable customer experiences involves a lot of serendipity. The initial stimulus leads to the building of awareness of such possibilities. Then moments of truth need to be identified and cultivated upon. This phase leads to social discovery as the idea is circulated among several key people involved. Customers require a seamless multi-channel experience. In order to be at the right place and time to leverage such moments of truth, the management must understand the desired brand promise as opposed to the customer experience. Business intelligence must be gauged via formal or informal interactions on the kind of things customers really care. Any distress or frustrations they are facing need to be tackled immediately. Experiences of other stakeholders beyond customers must also be tracked. This can be through various methods such as simply calling up the right people or engage in a short chit-chat with the front office. The speed of customer onboarding must also be tested as this reflects on the efficiency of operations. Another such is the ease and pace in redemption of loyalty points earned. Post this moment of truth comes the stage where the customers are stimulated with their first consideration to buy the product. Then next stage of analysis comes through the feedback of the first use experience. The final call may be taken once the results of the community’s shared experience are out.

Source:https://customerthink.com/spot-the-moments-of-truth-to-create-unforgettable-customer-experience/

Uploaded Date:27/06/2017

The time span of an average Chief Marketing Officer (CMO) is now down to an all time low of a mere forty two months, as per a publication on the Wall Street Journal. This has precipitated major changes in their work patterns. Thus some traits have been identified which distinguish the most effective of CMOs from their counterparts. First of all, they must be defined by genuine passion for their work. Secondly, they must realize the power of perspective where holistic skills are required to succeed. Communication is needed with diverse people in the team and collaboration with other members of the C-suite such as finance, security or even technology. A truly good CMO is not someone who just barks orders, but one who is hands-on. He/she does not blindly follow data but adds personal inputs for proper analysis. The global Digital IQ survey found out that human experience was a key component in driving superior business performances. The person must not be rigid to traditional maxims, but be ready to constantly innovate, evolve and embrace new work patterns. A modern CMO for example must imbibe business analytics, artificial intelligence and contextual marketing methods. Such analytics must be gleaned thoroughly to get authentic business insights. A successful CMO will have in-built talent management abilities to forge together a cohesive team. He/she will also be open to constant innovations, and actively stimulate the same. Finally, the best of CMOs must have the ability to think from the customer’s point of view. This enables the best of service to be provided.

Source:https://www.strategy-business.com/blog/The-Nine-Traits-of-Highly-Effective-CMOs?rssid=all_updates&gko=c45b2&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+StrategyBusiness-AllUpdatesFullPics+%28strategy%2Bbusiness+-+All+Updates+%28Image%2FSyndication%29%29

Uploaded Date:27/06/2017