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Making millions with pennies – BEHAVIORAL ECONOMICS

Growth and productivity

When I think about board member’s day to day life and board meeting’s average content, I know it’s full of big decisions. What is our growth strategy? Are we willing to invest millions of euros/dollars in technology in order to enable customer relationship strategy and automation? How can we reduce our churn? How can we lower over all costs and increase productivity? Thinking big is important, but I’ve come to conclusion that thinking big also makes board members blind to potential that is at their reach with minimal investments.

I’ve been working on direct marketing, sales development, customer journey analytics and customer experience-  and customer interface design since 2004 and learned that the potential is amazing. Realizing the potential often only cost pennies, but requires new point of view and strong experience. So what is this really? It’s BEHAVIOURAL ECONOMICS. Using BE in order to rapidly create major changes has to do with Choice Architecture and Nudges, leveraging behavioural patterns. It’s very much like Service Designing, but doesn’t necessarily require total make over, just adjustments. I decided that I collect and publish some of the actual outcomes that I’ve discovered with my clients so that there is tangible proof of what I am talking about. These cases are anonymous and from multiple market areas including both B2B and B2C cases:

Conversion: Sales increased by 240% by only re-designing the way the product was introduced and how customers actually were steered to made the purchase. Investment level 5000€ – sales value in millions
Sales: Changing messaging order and starting marketing by allowing own members to buy first, before others. Creation of momentums inside the campaign. Sales index was 200% in a first year and 260% in second year compared to the original target budget. Investment level – no change. Double profitability impact:  higher margins and stronger sales. The sales impact was + 20 millions.
Churn reduction: By changing the way how the company did invoicing, the company’s churn reduction was almost 1/3. Investment level in thousands – savings/improved loyalty > 1 million
Customer service cost reduction: Changing the way invoicing was done, we were able to cut contact center calls to half and allocate that free capacity to proactive contacting of customers who had given critical net promoter scores. Multiple impacts: NPS increase, higher loyalty, higher ARPU, lower cost to serve. Customer feedback also gave insights to overall service and product development. Investment level in thousands – impact in hundreds of thousands
SEO/SEM improvement: Cost of acquisition is often a critical profitability factor. In one case I analysed company’s current reach of SEO and SEM and came to conclusion that 1) Their all key words were targeting the last moments of decision making = most expensive 2) They completely missed the contexts that made their service interesting and valuable = high reach, low cost. Also, they renewed their website, which cut their lead generation to half. The solution: conversion fixes on website with minimal cost, new approach to SEO/SEM. Investment – re-allocated current marketing budget, projected impact more than 200% sales increase
Proactive service messaging: Sending customers service messaging with automation multiply their frequency to use service, increase spending and reduce churn. Investment apr. 100K, sales increase impact in millions.
What board members should consider:

We already have technologies and on-going spending – can we improve their impact
We already have thousands/hundreds of thousands/millions visiting our customer interfaces. Can we improve conversion to sales?
What is our level of contact center costs? How many contacts is there? What is causing those contacts? Can we do something about it?
What is our churn level (leaving customers)? What does that mean in euros/dollars? Can we do something about it?
We have tons of data. Have we really understood the value buried in it? How can we transform data into money (operational improvement with current offering – potential for new businesses and offerings)
One case I am currently working which is special for one major reason, its public, is Kela (Finnish pension insurance company). KELA is government managed and doesn’t have competitors, which means that I can talk about the case without breaking any NDA’s. Due to a legislation change, Kela is going to take over a new service area in the beginning of 2017 that currently employs 600 working years in employee resources. I have a privilege to analyze how customers are currently using Kela services, how and why they use office- and call center services. Based on this data I am looking for ways to increase self service level and decrease cost of servicing. The goal is, that by changing the customer interfaces and service processes we can decrease the service need so much, that Kela DON’T need to hire 600 more people to fulfill the new responsibilities. Since I started analyzing data, interviewing customers and customer service people, we have already found improvement points that allow Kela to cut hundreds of thousands and eventually millions of calls or manual applications. Very little user interface element changes alone can reduce costs by 1,5 million euros in one single service segment. These findings are now in process to be realized with lean UX workshopping.

There’s one specific finding that I just have to point out. In every application context Kela gives an average decision making time. The idea to give an average time is natural and intuitively right way to approach the customer need. However, there is a problem. Giving an average time for decision will create expectations. Giving an average time actually means that HALF of the applicants feel they get below average service, get worried and call. The number of such calls is +200K in total. What can we do? We can change expectations by changing ONE LINE across all services.

“The decision making typically takes AT LEAST xx time”

The change of this one line has very meaningful benefits:

half of the customers feel that their service EXCEEDED expectations
The other half is more patient
The projected saving for this very simple change is at the level of +1 million euros. The cost to make that change is 0€. When scaling all improvements together the savings will be calculated in multiple millions.

What is that KELA case really about? It’s about recognizing why people get worried, feel anxiety, what they don’t understand and how can we improve their feeling of confidence that things are going well. In practice we improve customer experience. In a commercial context this means higher NPS, stronger customer relationships, higher demand, higher conversion rates, lower cost of acquisition… the list is endless and it’s full of direct profit impacting factors.

What I suggest for your next board meeting is, that you take the board consideration list above and put it on  your agenda.  Then honestly consider if there is room for improvement. My experience is, that there always is. Then contact a person who has real experience about recognizing improvement points, analyzing the data for potential and capacity to create insights and design changes that make millions in ROI.

This is what I do.

Here is a short introduction to my offering and how does it impact company’s customer centric transformation, management, culture, infrastructure and processes: Behavioural Economics offering


Let me know if you want your company to take a leap to a whole new level of productivity. Let’s have a chat and see if we both get excited 🙂

Toni Keskinen
+358 50 55 222 76
toni.keskinen@futurecmo.org
http://www.linkedin.com/in/tonikeskinen/
@Toni_Keskinen

Business Design and Transformation process for growth

I have been privileged to be part of some major enterprise transformation processes over the past decade that have taught a lot about how do you actually enable and enforce change for customer centric, holistic, agile and innovative corporate culture. In the business world we are living in today, brands are created with customer experience and corporate culture. The capacity to serve customers in an omni-channel world the way they want to be served is becoming a competitive requirement instead of being an advantage.. This can not be done with silo organisation with responsibility barriers, split budgets, strict hierarchy, fixed roles and waterfall development processes. Those things are true status quo traps that will eventually kill any business sooner or later.

Just like Jeff Gothelf and Josh Seiden, the authors of Lean UX -book, I got fed up with cases that were perfectly planned but never implemented or the implementation was too far from the plan and naturally didn’t deliver as expected. I’ve also grown out of creating strategies and roadmaps and moved to actual change making. I really love Lean UX. Lean Start-up- and design thinking adjusted to established enterprise environment. Solving real problems, creating customer insights, direct applications and implementing them asap is much more rewarding for everyone involved than just designing the change. Getting results fast accelerate learning, inspire innovation and motivation beyond anything else. The gradual change is also much easier to manage than a complete turnover at once.

The key rules for success are:

  1. Outside-in > understand customers and markets first, then look at your offering, customer interfaces, brand, invoicing, agreement processes, up-sales, cc etc. Be honest and learn.
  2. Bottom-up > The need for a change should be recognized at the board level, however the change learning should start at the bottom – with people who are directly communicating with customers and know their frustrations and understand company’s challenges. Most often they can directly tell you what needs to be changed. Once you know these, you can take it to the board room and be honest again and learn more
  3. Do and learn fast, adjust and improve. Don’t try to get everything right before releasing something. There are no watertight facts before there are real life results. Most things can be tested small before scaling or making major investments before proof of concept. Stay curious and lean even in case of larger enterprise

Based on my experience, this approach works every time:

customer centric management transformationIt is crucial to work you way bottom up in order to obtain actionable insights

Bottom-up strategy creation and implementation

1. Create customer insight. Use customer data, analytics, scoring model, online data, research and any available data sources in order to understand who the customers are how do they behave. If you don’t have enough data, get it, make 1-2-1 interviews or research and mash-up other datasources. Create a customer journey map based on these findings and engage with people who work in direct customer interfaces like sales, retail, call center, research, support, invoicing, credit negotiation, specialists, etc. By connecting these two realities you can see a couple of things:

  1. Who are the customers, what are they doing, how and why?
  2. How does this customer behavior show in your customer interfaces, what are the most important pain points and frustrations customers have and what can you do about it. Once you have the facts, you can see how you can extract painpoints by re-designing the customer journey experience across customer interfaces and how that will reduce costs to serve while also improving NPS. That has a direct bottomline impact. Also, you can recognize opportunities that will help you sell more effectively, improve conversion rates and thus drive marketshare and sales up.

When you have understanding about the customers and you can define Customer relationship-, Customer experience vision, set goals and recognize their impact to revenue and bottomline. The Customer interface and customer analysis becomes the roadmap for better and enables a shared language thru organisation. Everybody can agree with the facts and understand their own role in the customers’ process. The discussion is around customer behavior and going forward, it’s not about blaiming anybody for their decisions in the past. The mandate for change comes frome the customers and dictates what needs to be done. This is why everyone can agree with it and don’t lose face or feel the need to defend prior decisions. In every single case this first part has been capable of igniting inspiration, trust in own capabilities to do meaningful changes and realize them. Insights and understanding create momentum that makes it possible for a company to change fast in a meaningful way. This change is done because people love it and their hearts and minds are burning to make an improvement. It’s not done because management has told employees to change or because the management team has come up with new organisation chart… This route to transformation can be rapidly implemented and the results are quickly at hand. These results justify futher improvement.

It has been interesting to learn, how much silent knowledge, un-tapped knowledge and supressed passion can be found in any given organisation. This capacity can only be realized by deploying the change within the organisation. This is why outsourcing the planning is not a good idea in my opinion. Carrying light inside with a bag doesn’t help, you need to light up the people. Once you release that passion and knowledge in constructive way, it will change the organisation permanently. The way of working will change, it will improve job satisfaction and willingness to push the limits further. At best, it will create a positive cycle for competitive advantage and growth.

2. The next stage is about turning insights and understanding in to systematic Way of Working. This is actually very practical consideration about recognizing responsibilities, ownerships over larger entities, creation of KPI’s and information flows or designing the approach to commercial management in general. Often there are factors like scorecards and conflicting interest in the organisation that need to be fixed, rewarding mechanisms or silo cultures that just need new perspective and solving. Very often dysfunctional organisation has everything in order on the surface, but multiple little things that paralyze the operational engine, innovation, productivity and motivation. Sometimes management isn’t even aware of such issues that could be historical relics that should have been solved ages ago.

What ever there is in the way of working, the new perspective gained in the first stage will help in finding solutions to them. The work is done gradually case by case and the excitement and positivity for change gradually take over the entire personnel. At this point, the company should reach a positive cycle that feeds winning mentality, job satisfaction and capacity to innovate.

3. The first two stages have already revealed the challenges that can be found from systems architechtures and platforms. While the first stage already enables major improvements with UX design and coding, the platforms enable strategic development and automation. This naturally takes more time and is different kind of project, but by this time the needs, benefits and requirements should be selfevident. As the learning has already started at frontend level, the understanding about available business benefits should also be clear for decision making and investment planning.

This kind of change can improve efficiency and productivity very fast without showing anything outside yet. However, when the company is really changing it should also show outside. In my experience advertising is actually very effective mean for internal change communication. The promises that the company gives outloud enforces the internal resolve to follow thru and deliver as planned. Advertising is about communicating the core values and that goes to own personnel, customers and the market. There’s just the question of timing that must be carefully considered. If the advertising starts too early and the personnel hasn’t really got on board, it might have double negative impact:

  1. internal feeling of disconnect between promises and capability to deliver and
  2. customers feeling that there isn’t enough substance behind those promises which could damage the brand and destroy the momentum that would have been available.

Like anything that has to do with people and emotions, these are delicate matters and require consideration. In order to do things successfully you need to have a clear plan but it has to be flexible enough so that it can be deployed in right order.

These transformation stories are truly interesting and educating processes. I’d love to hear your stories and experiences about them. Please comment and share 🙂

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The CMO Survey 2013 & insights – What CMO’s should do now?

Screen Shot 2013-05-29 at 8.41.47 AM

The Duke University’s CMO Survey 2013 results highlighted again the need for marketing and CMO’s to carry more responsponsibility and integrate better with the corporate management and operations. It seems to me that marketing is facing the same evolution that car engines have gone thru since 1960’s. In the 60’s car engines were large, heavy, powerfull and impressive but their gas consumption was just terrible and their efficiency unacceptable in current evaluation. Currently engines are much smaller but deliver a lot of power with very low gas consumption. The big and impressive modern engines have amazing power with acceptable gas consumption. The engine game is all about efficiency, as it should be.

This is the case that CMO’s are facing now too. The way to get there is very much about understanding the big picture (customers, their needs and drivers, choice criteria, their cross-channel behaviour and corporate capacity to serve and deliver great customer experience across touchpoints), managing analytics and customer interface operations. The multitude of digital and analogical touch points has exploded and require very much consideration in order to come up with the essentials and focus on what matters. Marketing budget, according to CMO survey, is currently 10,6% of corporate overall budget and if we add to that retail, sales, customer service, customer managament related technology and online service investments, the customer interface investment in total is eventually what runs the company. This combination is what matters most and should be considered as an entity that must be analyzed and managed in an integrated way. See article Marketing do-or-die -managing customer interfaces

According to the CMO survey 2013:

  • 6% of marketing budget is allocated to marketing analytics and it is expected to grow to 10% over the next three years. However, only 30% of company’s projects use marketing analytics and leverage insights from it
  • Social media share of budget is currently 8,5% and it is expected to be 11,5% by the end of the year and 21,6% in the next five years. However, for the past several year the level of social media integration to marketing strategy has remained at the level of 3,8 in a scale 1=not integrated to 7=very integrated. The spending is expected to more than double but even in current situation the value social media could deliver is not being effectively harnessed.
  • The CMO’s role is weakening in the areas of CRM, new product development, sales, pricing, innovation
  • The company’s next 12 months expectations though highlight success in customer retention and profit increase and the companies are concentrating on diversification strategy (new products – new customers) and organic growth.

To me these results mean, that CMO’s are actually shying away from the corporate center. The best companies are already using Customer Journey design tools and managing customer interfaces in an integrated way, which really enable CMO’s to fine tune their engines and deliver much higher return on investment. These companies are rare though. The results show that in majority of cases CMO’s and marketing department’s role is weakening. Over time this can only mean declining budgets or declining role of CMO.

We are currently living in very rapidly changing environment from which the marketing has best understanding and the board has least understanding. The boards are now more interested in customers than ever, and they need answers. Sheryl Pattek’s (CMO for Forrester research) article highlights how National Association of Corporate Directors (NACD), a group of board-of-director members from the US’s most prestigious companies is discussing the topic: How to keep corporate boards relevant in the 21st century. This is Sheryl’s view on the discussion:

The discussion that morning focused on the need to respond to and keep pace with the rapid change in customer behavior to stay competitive. It also addressed how current board members could keep up with the evolution of customer touchpoints to understand the new digitally-based strategies that are increasingly being shared with them. What I found striking about the discussion after some reflection was that the realization of the critical importance of customer behavior on the future success of top companies has made it all the way to the boardroom. The age of the customer that Forrester first identified in 2011 has really arrived and goes well beyond marketing. Why now? Corporate boards are starting to realize that to provide the strategic guidance and governance that their role requires, they need to better understand customers and how the relationship between them and the companies they direct are changing. And they need to understand it fast. The market is moving and changing too rapidly to be left behind.” (see the full article here: CMOs, Is Joining A Board of Directors Part of Your Career Plan? If Not . . . It Should Be.)

This is the time when marketing can really, finally become corporate center – driver for management change and change management.  Mr. Steven Cook, the founder of Fortune CMO network has made a great presentation about this subject with some cases. Enjoy.

 

SEE ALSO:

FutureCMO definitions

Lost insights and Corporate Blind Spots

Business Design with customer centricity

How to enable smart company and avoid corporate autism

Author: Toni Keskinen, Marketing Architect & Customer Journey Designer

http://www.linkedin.com/in/tonikeskinen

Join FutureCMO Movement LinkedIn Group here
 
 
 
 

Christine Moorman is the Director of The CMO Survey®
http://youtu.be/gqOGVZE-tMo

The CMO Survey 2013 results in full:

CMO challenge – How to organize marketing for success?

This time this article is more about a question, than an answer. We do need to change but to what? Earlier on I wrote an article about how the creative work and marketing planning will transform in to something new.  As we do know the brand’s own customer interfaces are becoming more and more important as a media and amazing tools for continuous relationships and engagement. Customer interface management is becoming do or die for CMOs. Understanding Customer Journey and the dynamics around it are becoming the new black in planning process. Altogether the priorities are rapidly changing as well as the the organization and world around CMO. Forbes just published an article about “The end of Expert – Why no one in marketing knows what they are doing?” 

“It’s a stark verdict from a prominent source. “There are hundreds of thousands of people who were trained and mentored, and studied classical marketing, and they got good at it,” says Clark Kokich, chairman of digital agency Razorfish. Unfortunately, the world has changed – and that education is no longer relevant. “If your self-worth and your confidence is based on you being an expert, you’re in deep trouble, because there aren’t any experts,” says Kokich, author of Do or Die: Surviving and Thriving in a World Where the Old Ways of Marketing Aren’t Getting It Done. “Sure, there are experts in some fields. Someone may be really good in SEO or in mobile. But there aren’t any experts in making this transition”

So, how should CMO arrange his/her internal organization and how should creative work be a) created b)produced and c) measured. How should the marketing overall work flow internally and externally? What kind of partner structure would be ideal? What to in-source and outsource?

There are several task to take care of:

  • Define who are your customers, what kind of behavior do you want from them and what kind of actions actually deliver such behavior?
  • Define how do you reach them and how do you communicate with them
  • How do you create and manage own web interface, social media interfaces, customer service, retail, sales,..
  • How do you create big ideas that inspire and contribute to the corporate overall image as well as turn these inspirational ideas in to customer experiences?
  • How do you measure and quantify, learn and implement continuous change?

Earlier on you had one agency for above the line creative design. These guys were the kings of the hill and everything else was less important. Then you had below the line agencies for Direct marketing, email marketing, in-store promotion, promotions in general, marketing PR, SEO and SEM agency, media agency, research agency, online agency,… Well, you had all these agencies and you had internal organization and a person to run each agency or discipline along with budget allocated for that specific purpose. eg. Direct marketing. This kind of world view has died over the past five years.

The new world is still under construction. You have now creativity in media agencies and analytics people in creative agencies. The new ways of organizing and sharing responsibility  are just emerging. This is why I hope you could participate and share your best working practices and experiences for collaboration.

SEE ALSO

“The CMO 2013 Study insights and what CMO’s should do now”

Lost insights and Corporate Blind Spots

Business Design with customer centricity

How to enable smart company and avoid corporate autism

Author: Toni Keskinen, Marketing Architect & Customer Journey Designer

http://www.linkedin.com/in/tonikeskinen

Join FutureCMO Movement LinkedIn Group here

Planning 3.0 – combining Creative, Communications, Experience and Business planning = Customer Journey Management

Admap published a writing competition results – best articles about “Planning 3.0”– How will we be planning in 2020? The winner, Nick Hirst said “We need to transcend the often polar disciplines of ‘conceptual’ (creative agency) and ‘practical’ (media agency) planning to deliver, not communications, but great brand experiences.”

I couldn’t agree more! Although mr. Nick Hirst’s and other rewarded articles were great, what really made an impression to me was the pre-words the judges wrote. They analyzed the articles they received and came to conclusion that the future of planning looks like… ‘We don’t know’, or at least, ‘we don’t agree’.

According to judges the most striking theme about the entries was not about how the entries were presented but how they represented a clear new chapter of planning, not necessarily a consistent chapter, but a new one nonetheless. This new era could be dubbed the, ‘the post-specialist era of planning’. 

Planning has grown around specialists in data and analytics, user experience, information architecture, trend analysts, digital strategy search optimizers, social media and crm gurus… Until now, the dominant conversation about strategy has been about the need for these specialists, and for them to be distinct and separate from what has gone before.

Entries to this Admap Prize competition no longer championed the specialists as skill sets that deserve their unique place. Instead, they argued that they should be the very future of planning in its entirety; the planning specialism becomes the planning mainstream.  According to judges, authors wrote of the data and analytics skill as simply becoming planning – all tasks of planning would become measurable and, therefore, the measurement/analytic skill would become planning. Or, the specialist skills of social media strategy would become the fundamental of brand planning, given the very social future that brands face.

According to main judge, JWT’s Guy Murphy two things will happen

1. There will be a sense of planning returning to be a more singular and holistic way of working. Certain planning tools will become the norm for all planners – just as the notion of ‘paid, earned and owned’ seems to have become standard currency for media thinking today.

2. Planning will become more influential. The assimilation of its new-found specialists skills will make it a richer, more effective and more confident force. It will make a decent fist of managing the huge and growing complexity that faces brand building and communication. This will shift the role it has been playing.

In my opinion 2020 is far far away and everything mentioned above is already happening. Planning is rapidly facing new requirements for its effectiveness and moving towards more holistic view. Actually this holistic approach is gaining momentum in general.

Last week IBM organized “Smarter business day 2012” event in Helsinki. Data analytics was an issue there too. What IBM’s director for Analytics division Juha Teljo presented that the whole analytics business is moving from application centered approach to analytics centered approach by 2020:

So, along with planning, also the whole infrastructure is becoming analytics – that is planning – centered.  Once I search about this matter, I also found IBM’s view on how to create Analytics Center of Excellence inside your own organisation. The 150-page material is attached here: 5Keys to BA Program Success

The winning article by Nick Hirst agreed with this idea of holistic planning. He recognized User Experience planners as the first breed of future planners: “User experience goes way beyond Information Architechture. While the latter is a specific discipline concerned with the organisation of information to ensure its swift, intuitive navigation, User Experience considers the experince of the user as a whole: their expectations, their level of interest, their attitudes  even how they feel. Concepts like surprise of disruption, or even entertainment – all proven tools for affective and effective communications – are anathema to a classical Information Architect, but entirely within the imaginative realm of the User Experience Architect.

Even now they think about both the effect of an indivicual, small experience – a piece of copy, a picture, the way a button workds – and the overall journey. Even now, some agencies are recognizsing the ‘planneriness’ of what they do, and reconceiving them as Experience Planners. But just imagine what would happen if we unleashed that kind of thinking on everything else that comms agencies do now.”

I think the future of planning will be even more amazing than expected and I do think that Nick Hirst’s dream is becoming reality. Here’s what I think:

  1. Planning marketing will be about planning competitive advantage, that is corporate strategy and operations. see Forbes article here
  2. Corporate Image will be more and more about actual experiences and shared opinions – planning will be about designing and managing customer interfaces and experience. Article here https://futurecmo.org/2012/11/10/marketing-do-or-die-managing-customer-interfaces/
  3. Comms and marketing to customers will become service experiences – event based automatic communications that integrate with the customer’s situation and needs in any given location or interface. Marketing automation becomes service automation along the customer’s journey. The center of gravity will be the Customer Journey understanding and design.
  4. Planning will become more holistic than ever – we are moving towards business design. At this point planners will become the McKinsey’s consultants of tomorrow or McKinsey’s consultant will take care of the business design on behalf of marketing planners of today. McKinsey is already moving towards customer journey and experience planning, see this article http://cmsoforum.mckinsey.com/article/winning-the-consumer-decision-journey#.UIOLl_Mukic.email I would take it even further, here’s why https://futurecmo.org/2012/10/21/customer-decision-making-journey-flow/

Companies that are taking analytics and planning seriously are already doing much better than their peers. By 2020 you really have to be great in order to survive. And let’s not forget – analytics is useless without understanding and decisions (generate corporate autism) – planning and management. I thinks this means the dawn for customer journey planning and management as the new breed of holistic planning work!

SEE ALSO:

“The CMO 2013 Study insights and what CMO’s should do now”

Lost insights and Corporate Blind Spots

Business Design with customer centricity

How to enable smart company and avoid corporate autism

Author: Toni Keskinen, Marketing Architect & Customer Journey Designer

http://www.linkedin.com/in/tonikeskinen

Join FutureCMO Movement LinkedIn Group here

How to create an intelligent company and cure Corporate Autism?

Big data is the catch phrase inspiring corporate management right now. I agree that it is the direction many companies should choose to take. However, the reality is that challenges are not in systems and technology. Most important challenges can be found from our own ways of working and thinking. In this presentation I explain what is corporate autism about and how to cure it. Please comment and give us your feedback if you find this approach eye-opening.

View more PowerPoint from Toni Keskinen
If you find the idea about Corporate Autism interesting – take a look at “Lost insights and corporate blind spots” article.
And yes, I do think CMO should endorse, initiate and lead this kind of project. Managing brand, customer experience and customer journey require CMO to have access to rapid and relevant information in order to make decision on priorities for investment allocation and goals for those investments.
When you are really trying to find out practical advice, how to improve customer experience, find out where to invest and why, start from the bottom and work your way up. Top-down strategy work is often very difficult to apply in to processes and real daily work. Bottom-up work deliver rich and practical improvement advice ready for roll-out.
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