This year, we’re taking a slightly different approach to our annual loyalty trends blog. In keeping with a broader and more encompassing set of goals for the consumer marketer, we’ll be focused on the top ten digital transformation trends that in 2016.
For those of you that have followed this series over the past several years, fear not; the ultimate outcome of making the digital transformation is to develop more loyal, profitable, and responsive customer relationships. We will expand our reach to cover topics such as fast data, marketing creativity, organizational effectiveness, seamless mobile engagement, customer experience strategies, and predictive analytics—all focused through a lens of helping marketers navigate towards a powerful digital destination.
For the next ten weeks, please check back on the TIBCO Blog and our social networks (LinkedIn, Twitter, and Facebook) for our journey through this year’s digital transformation trends. Until then, here is a preview of what’s to come.
1. Customer Experience to Dominate Digital Transformation Discussion
Over the past five years, different topics—loyalty, mobile, social, geo-location, big data—have headed analysts’ and other pundits’ dominant issue for consumer marketers. Our top trend for 2016 recognizes that delivering a holistic and satisfying experience seamlessly across all channels is the pinnacle of consumer marketing.
2. Digital Transformation Must Include Consumers’ Ability to Control Their Experience Easily and Knowingly
Several years ago, when we investigated the drivers of customer loyalty, “control” was just emerging as a recognizable driver of success. Increasingly, we hear consumers wishing to shape their own experiences. Relevance is a topic that will come up frequently. In many cases the missing (but obvious) element is the means of allowing customers to shape their own experiences.
3. Predictive Analytics is Key to Relevance; Relevance is Key to Sustained, Profitable Relationships
A simple fact: when you engage with consumers with language, offers, ideas, and personal touch that aligns to their needs (both observed and inferred), purchases go up, satisfaction rises, and loyalty is cemented. The core tool for delivering highly relevant experience is Predictive Analytics.
4. Marketers Must Further Invest in Their Analytic Journey Through Technical and Professional Enablement
A meaningful gap still exists in the vast majority of organizations. Analytic professionals most often head toward finance and technical teams, leaving marketing organizations without the firepower to effectively leverage analytic technologies.
5. Context is the Fundamental Driver of the Fast Data Revolution; Big Data—Whether Stored or In-Motion—Are the Raw Ingredients
Big data has introduced a new roadblock, no longer can we point to “paralysis by analysis”, and instead, the paralysis is driven by too much data; what is stored in big data repositories and what is happening all around us in constant motion. Focusing on the complex context of decision-making and the pattern of data that informs those decisions allows us to effectively move from big data to Fast Data.
6. Creativity and Innovation Are Not in a Battle with Data and analytics. They Allow Each Element of Marketing Capability to Thrive
There has never been a better time to be a creative—the Don Drapers among us who bring campaigns to life, make us laugh, and allow brands to stand out well above their competition. Instead of feeling that their hands are tied by constant measurement, creative should embrace the ability to rapidly test, tie campaigns to response, and continuously learn in absolute terms.
7. Digital Transformation Must Deliver Unique Capabilities Up and Down the Customer Pyramid
Customer experience programs, those that personify brand, as well as those that are specific to membership or loyalty programs can (and must) be relevant across the entire spectrum of customers. The economics of adapting a common transformation thread all the way from the least engaged to the most loyal is compelling and a necessity to future-proof long-term profitable growth.
8. Best Customer Insights Become Richer and More Actionable in a Digitally Transformed Enterprise
We often ask our customers what it would be like to know as much as possible about the top ten percent or so of customers that represent 40-50% of sales and or profitability. The actions that can be taken from these analytic insights develop customer centricity at a super heightened level.
9. Mobile Experiences Will Be Natural, Highly Impactful, and Seamless
After a decade of growth, in users, capabilities, and behavioral adoption, we’re certainly ready to be “mobile first.” The key insight is to utilize mobile in ways that leverage mobile’s strengths and minimizes the few (but meaningful) weaknesses.
10. Process Best Practices, Frameworks, Playbooks and Measurement Empower Marketers to an Even Greater Extent in the Midst of Digital Transformation
This is hard work. Digital transformation should not be viewed as an adventure into the unknown and trip back to the Wild West. Instead, redouble your focus on process, developing and abiding by playbooks that identify context, and on explicit objectives, and shift the language of success to quantifiable measures presented in powerful visualizations.
Stay tuned for this series of digital transformation blogs, and in the meantime, register for our Destination: Digital Roundtable webinar series to explore the business and technology requirements, best practices, and fast-track steps for transforming to Digital Business. Learn more and register here.