ikano_whitepaper_techtips

ikano_whitepaper_techtips

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  Top Ten Tips: Usingtechnology to boost customer loyalty and ROI
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  In context Gartner saysthat there will be some 30 billion web-connected devices globally by 2020; and whilst this presents fantastic opportunities for marketers, focus should be on the customer and not on the latest piece of shiny new tech. Poorly used technology could simply result in disengagement not only from communications, but from the brand altogether. When we speak with partners and prospects, technology is often at the top of their agenda, and brands are sometimes scared of being left behind. So, the question is; how do you ensure that your brand is using technology to deliver the most relevant and timely communications in order to drive your customers to spend more, spend more often, and remain engaged? Here are our top tips for using technology to increase customer engagement and loyalty. As new technologies constantly emerge and evolve, it’s easy to get swept up in their appeal to find new ways to connect with customers. With every new product promising to increase sales, it can be difficult to tell what is really worth investing in - and what will be a long-term solution rather than a fad.
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  Don’t underestimate the powerof the consumer With so much to do and so little time, today’s consumers are happy to embrace technology into their everyday lives. With information and choices at consumers fingertips, if you’re not offering a personalised, relevant, targeted and streamlined experience across all channels, chances are you won’t keep your customer for long. To stay one step ahead, consider how new technologies will affect your specific customer groups, and anticipate their needs. This could be as simple as sending out an alert with a special offer if a customer has abandoned their shopping bag before making their purchase, or providing customer service support via their preferred channels (i.e. social media, text, live chats, etc.). But, ensure that you are targeting the right people, with the right message, at the right time. This is where insight and integration is so essential, and is one thing that we look at when we start working with brands. Whatever makes life easier and simpler is unlikely to meet with resistance - as long as the value of the technology can be communicated. 1 2 3 4 5 6 7 8 9 10 Summary
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  Mobile rules Global WebIndex highlighted that 80% of internet users worldwide own a smartphone. This is where we manage our digital lives - from communication and social networking, to lifestyle management, media playback, shopping, travel, payments and productivity. In terms of your website, a mobile site just doesn’t cut it anymore from the customers perspective. Just because they’re using their phone, this doesn’t mean they want to access less information about your brand. Key to providing an omni-channel experience is offering the same service regardless of device. Having a responsive as opposed to a mobile site provides a consistent user experience whether a customer is on a phone, tablet or PC. Here’s our opinion on how to get the most out of NFC: Link payments directly to the customer for instant insight into buying preferences and spending habits. Deliver personalised offers at the till-point to influence purchasing and encourage a higher spend. Segment the data received to understand which of your customer groups are most actively using NFC and which offers or communications are most successful; then adapt them in a real-time test and learn environment. In our experience, NFC offers limitless potential for customer loyalty and data collection - but most importantly, all in real-time. Mobile brings with it an array of marketing techniques that allow you to get personal with your customers. 1 2 3 4 5 6 7 8 9 10 Summary Mobile is steadily becoming a portal from the offline to the online, and NFC (Near Field Communication) acts as the consumers new digital wallet, allowing them to carry everything from a credit card to a loyalty card within the convenience of their smart phone.
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  Location, location, location Location-based notificationsadd value to the in-store experience by providing timely, targeted messaging to customers in or near your store. Let’s look at iBeacons, which recognise smartphone users as they walk past, or through the store. The data you receive when sending an iBeacon depends on whether you have an app. Solo, iBeacons enable gathering of information about customer numbers, their in-store location and uptake of offers. Combined with a loyalty app (where you will have already collected initial demographic data), iBeacons send you rich data on exactly who’s shopping and allow real-time segmentation of your customer base. This gives you the power to push the customers next action; for example sending targeted offers to those already in your store who are most likely to respond. Remember that your communications should be contextual. Consider time, location, demographic and individual needs when planning your messaging. In its simplest form - there’s no point promoting barbecues when it’s -5 degrees outside. 1 2 3 4 5 6 7 8 9 10 Summary Send targeted offers to push customers next actions.
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  Don’t forget your physicalretail environment From self-service tills to in-store kiosks, consumers want in-store technology to enhance their shopping experience; making it simple and fluid. Kiosks and interactive tablets are an additional touch-point in the customer journey, and can be used to trigger additional engagement and data collection opportunities, such as providing personalised offers, self-service ordering, or membership/loyalty sign-ups. The Westfield ‘How We Shop Now’ survey highlighted that half of shoppers decide where to shop based either on the quality of mobile signal or the availability of Wi-Fi in store. Whilst not only enabling the consumer to share, surf, or shop; in-store Wi-Fi registration enables you to collect data on footfall, browsing activity, and customer demographics. Consumers want in-store technology to enhance their shopping experience. In-store Wi-Fi registration enables you to collect data on footfall, browsing activity, and customer demographics. 1 2 3 4 5 6 7 8 9 10 Summary
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  Second-screening = real-time participation Ownershipof multiple hardware devices has led to the rise of ‘second- screening’ (watching TV whilst on another device). Whilst this raises questions about how focused a customer is on your brand whilst second- screening, you can utilise this trend to engage with them on a different level, and on their terms. We can now participate and interact with what we’re consuming - for example in the X Factor app users can rate contestants in real time; and Twitter reported that over 40% of evening Tweets are TV-related (Kantar Media). It’s important to think about how you can drive your customers to participate in real time. Consider topical and timely tweets; targeted online or social media ads at the times you know your customers are active; or (if budget allows) gamification and interactive TV ads. For example, with Shazamable TV, a simple tap of the Shazam app when an ad is shown on TV lets viewers interact with the brand on their smart device to submit data, play a game or access more information. Think about how you can drive your customers to participate in real time. 1 2 3 4 5 6 7 8 9 10 Summary
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  Wearables & The Internetof Things It’s easy to get excited about the Internet of Things. Everyday objects connected to the internet means brands can subtly integrate themselves into customers daily lives: at the breakfast table with their connected fridge; on-the-move with their smart watch; or using an app to turn on the heating before they get home from work. This can provide you with valuable data about who your customers really are. But stop and ask yourself, ‘Why are we doing this? What do we hope to achieve? How does this benefit our customers?’ The Altimeter Group say that you must place your brand fully, intuitively, sensitively, and centrally to how customers expect to interact with and experience the brand. Ultimately, it’s all about customer convenience. The full implications of The Internet of Things are only just beginning, but we’re convinced that it will have huge impact on customer experience and loyalty. We’re completely fascinated; and are working furiously to understand how to maximise the wealth of data and customer insight that it will no doubt deliver. 1 2 3 4 5 6 7 8 9 10 Summary You must place your brand fully, intuitively, sensitively, and centrally to how customers expect to interact with and experience the brand.
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  Segment and target Forexample, Sky TV’s ‘AdSmart’ shows different adverts to different households watching the same programme (on a Sky TV channel). Segmenting your data lets you build communities of likeminded individuals, which you can then target with specific messages based on their preferences and interests. 1 2 3 4 5 6 7 8 9 10 Summary
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  Make sure youget the right data, not just Big Data By following just one of these tips, it’s inevitable that you’re going to end up with a lot of Big Data. We use the ‘So What?’ phrase – it may be interesting that Year 1 performed better than Year 2, but So What? What’s it telling me? What can I do now I know this? This is the joy of Big Data, it allows us to drive more insights and more answers to these ‘So What’ statements. Effective loyalty schemes generate higher levels of accurate data about customers, which can be taken advantage of in marketing efforts. Tailoring and personalising campaigns towards individual needs, lifestyles and preferences lets you build relationships and engagement; consequently increasing profitability (ROI). 1 2 3 4 5 6 7 8 9 10 Summary Your data should clearly show how investment in your loyalty scheme directly affects sales and influences customer behaviour - if it isn’t giving you this information, then there’s no point in collecting it. When considering Big Data in your business; make it simple and most importantly relevant.
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  Remember the human touch Technologyis nothing without the human touch. Whilst you may have an all-singing, all-dancing app or in-store kiosk, customers will still welcome the opportunity to talk to a real person. We all know technology has its glitches, or that some customers might need a little support, so ensure that you have well-trained, knowledgeable staff behind your brand to both minimise confusion and retain trust. What’s crucial is to provide a consistent customer service experience across all platforms. This is what retains engagement and loyalty, and ultimately increases the quality of your customer data. Here at Ikano Bank, we believe that our people make our business. They bring data to life by interpreting, analysing, and strategizing for our clients. Without them the data would be nothing but a complex mass of information for clients to sift through. What we’re getting at here is that - no matter what your industry - having that human touch can make processes and transactions simpler, easier and more-user friendly, and is vital to maintaining happy customers. Provide a consistent customer service experience across all platforms. 1 2 3 4 5 6 7 8 9 10 Summary Having that human touch can make processes and transactions simpler, easier and more-user friendly.
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  If in doubt,go back to basics Don’t forget that the rules of marketing are the same as they always have been. What has evolved is how customers prefer their communication, the options available for it and the ability to engage in real-time. Getting a personalised offer is nothing new – the Boots Advantage Card kiosks have been with us for over 15 years. Whether you ask people to visit a kiosk, download an app, tap an NFC tag or scan a QR code, each channel needs to be enabled to offer a consistent, omni-channel customer experience. Take a step back and think about which new technology is the best match for your customers. It has to fit with your business proposition - what engages one business’s customers might have the opposite effect on others. The rules of marketing are the same as they always have been. 1 2 3 4 5 6 7 8 9 10 Summary Think about which new technology is the best match for your customers.
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  In Summary Ultimately, usingtechnology is about where in the transactional process you have the best chance to influence purchasing in an easy and attractive way for your customer, whilst creating a seamless experience across all channels. Get your technology and communication balance right, and the complete process will work hard to increase profit. So, if you only take three things from this document, these would be our ultimate take-outs: Consider your specific customer groups and their preferences, and make sure communications are contextual Link your in-store and online experiences Technology is nothing without a personal touch 1 2 3 4 5 6 7 8 9 10 Summary No matter which technologies you use to engage with customers, you can’t afford to forget that the aim is to get them to spend more money, more often, and stay longer – and do so on their terms.
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  www.ikano.co.uk @ikano_UK Ikano Bank isawesome with data, but even better at relationships. And that, ultimately, is what turns customer loyalty into a business’s success. ? Do you want to build a new loyalty or customer engagement programme? ? Do you want to improve an existing one? ? Or, do you simply want to turn customer data into actionable insight? No matter what stage you are at with your customer engagement we have the intelligent, intuitive insight to help you achieve ROI and drive incremental revenue: Wherever you are with customer engagement, we have the intelligent, intuitive insight to help you achieve greater ROI and drive incremental revenue. For more information please contact: Barry Smith barry.smith@ikano.net 07551 671 825 0115 850 3644