the customer mandate
DESCRIPTION
SDL's global research study showed that it takes 2+ years to secure brand commitment and 5 years to convert the commitment to better-than-average revenue. So, who can wait that long? How can you accelerate the tipping point? It’s all about the experience. Read this research to understand how to evaluate your customers, impact customer trust and accelerate revenue.TRANSCRIPT
1
Survey Results: Driving Brand Commitment through Channel Preferences
2
The following is a summary of the findings from a global survey of consumers to understand what drives customer brand commitment, and ultimately revenue. The survey was conducted in March through May 2014 and covered 6 continents, 9 markets, 5 languages and
4 generations.
3
Capturing a World View
6 Continents9 Vertical Markets5 Languages4 Generations2,835 Respondents
US
Brazil
China
India
UK
Australia
Germany
Russia
South Africa
4
The Survey Results Show:On Average, It Takes 2+ Years to Secure Brand Commitment
< 1 Year 1-2 Years 2-5 Years 5+ Years0%
5%
10%
15%
20%
25%
30%
35%
Trust the Brand
Relationship with the Brand
2+ years to accelerate BRAND
RELATIONSHIP
Up to 2 years to the accelerate
BRAND TRUST
% o
f re
spo
nd
ents
cla
imin
g
5
It Takes Five Years to Convert that Commitment to ‘Greater than Average’ Spend (Revenue Tipping Point)
Note: Average brand spend is across all verticals combined.
< 1 Year 1-2 Years 2-5 Years 5+ Years0%
5%
10%
15%
20%
25%
30%
35%
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
Trust the Brand
Relationship with the Brand
Average Spend
% o
f re
spo
nd
ents
cla
imin
g 5+ years is the
REVENUE TIPPING POINT
6
It Takes Five Years to Convert that Commitment to ‘Greater than Average’ Spend (Revenue Tipping Point)
Note: Average brand spend is across all verticals combined.
< 1 Year 1-2 Years 2-5 Years 5+ Years0%
5%
10%
15%
20%
25%
30%
35%
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
Trust the Brand
Relationship with the Brand
Average Spend
% o
f re
spo
nd
ents
cla
imin
g The goal? Accelerate the time it
takes customer to reach the REVENUE TIPPING POINT
7
Ready to reduce the amount of time it takes to secure brand trust (and the revenue tipping point)?
Which tipping point? Trust? Relationship? Revenue? Or any/all?
EN: good point. I think this is the faire place to pivot and say we only care about shifting revenue tipping point. (the end customers are really the ones who care about trust and relationship… our customers care about converting revenues.
8
Customer Experiences and Loyalty Rely on Both Traditional and Digital Channels
○ In-person
○ Customer service call center
○ Customer reviews
○ eCommerce store
○ Informational website
○ Online chat
○ Online customer community
○ Branded Twitter Feed
○ Branded Facebook page
○ Mobile app
○ Mobile website
○ Google +
○ Other – Social media
Preferences also vary by generation and geography
Survey data shows that customers have varying preferences for each channel
9
The Generational Wave of Channel Preference
Customer help lineIn person
Customer reviews
Google + PinterestOther – Social media
eCommerce store
Informational website
Online chat
Branded Twitter Feed
Branded Facebook page
Mobile app
Mobile website
Online customer community
In the Generational Wave of Channel Preference, the closer a channel is to a generation, the more critical that channel is to brand commitment for
that segment of customers.
Customer Interaction Channel Universe
Boomer Young Millennial
10
The Generational Wave of Channel Preference
Customer help lineIn person
Customer reviews
Google + Pinterest
Other – Social media
Gen X
Boomer
Older Millennial
Young Millennial
eCommerce store
Informational website
Online chat
Branded Twitter Feed
Branded Facebook page
Mobile app
Mobile website
Online customer community
Customer Interaction Channel Universe
Boomer
Gen X
Older Millennial
Young Millennial
Generations have very different channel
preferences
The closer a channel is to a generation, the more critical it
is to brand commitment for that generation
11
The Generational Wave of Channel Preference
Customer help line
Google + Pinterest
Other – Social media
Branded Twitter Feed
Branded Facebook page
Mobile app
Mobile website
Online customer community
Customer Interaction Channel Universe
Gen X
Boomer
Older Millennial
Young Millennial
Boomer/Gen-X preferred channels fall within the purple oval
Most relevant channels across all generations fall within the red oval
In person
Customer reviews
eCommerce store
Informational website
Online chat
12
The Generational Wave of Channel Preference
Customer help lineIn person
Customer reviews
Google +
eCommerce store
Informational website
Online chat
Mobile app
Online customer community
Customer Interaction Channel Universe
Gen X
Boomer
Older Millennial
Young Millennial
Millennial-preferred channels fall within the green oval
Other – Social media
Branded Twitter Feed
Branded Facebook page
Mobile website
13
Channel preferences also vary by region
14
The Generational Wave for the Americas
Customer help line
Customer reviews
In person
A large shift is happening in the Americas. Young Millennials are
moving further away from their older counterparts
Gen X
Boomer
Older Millennial
Young Millennial
Branded Facebook page
Mobile app
Online customer community
PinterestOnline chat
eCommerce store
Informational website
Google +
Other – Social media
Branded Twitter Feed
Mobile website
15
The Generational Wave for Europe
Customer reviews
In person
Customer help line
eCommerce store
Informational website
Google +
Online customer community
Branded Facebook page
Other – Social media
Branded Twitter Feed
The separation between young and older Millennial is
complete, because preferences differ. For
example:
Older Millennials have embraced Pinterest
Younger Millennials prefer brands with
online communities, branded Facebook pages and engage
across social platforms
Boomer and Gen X still overlap. Personal experience supported
by eCommerce and web
Gen X
Boomer
Older Millennial
Young Millennial
PinterestMobile website
Online chat
Mobile app
16
The Generational Wave for Asia & Australia
Customer help line
In person
Other – Social media
Informational website
Mobile website
Customer reviewsBranded Twitter Feed
Branded Facebook page
Mobile app
eCommerce store
Online customer community
Boomers and Gen X now have distinct needs. Gen X wants
online communities (the domain of Millennials everywhere else in
the world)
Young and old Millennials remain connected through
Twitter and Facebook preferences. The shift to Web
3.0 by Young Millennials is starting
Gen X
Boomer
Older Millennial
Young Millennial
Google +
Online chat
17
Generational Preference Comparison Globally
Europe
AmericasGlobal
Asia & Australia Gen X
Boomer
Older Millennial
Young Millennial
If you are doing business globally,
adapting to preferences by generation and
region is important
To reduce the time to get to the trust and revenue tipping points, communicate with customers in the way they prefer.
Contact us to learn how SDL can create a custom mapping of generational and regional preferences for your business.www.sdl.com/contactus
Copyright © 2008-2014 SDL plc. All rights reserved. All company names, brand names, trademarks, service marks,
images and logos are the property of their respective owners.
This presentation and its content are SDL confidential unless otherwise specified, and may not be copied, used or
distributed except as authorised by SDL.
Global Customer Experience Management