The Four Secrets To Becoming An Experience-Focused Brand

Source: https://www.pardot.com/blog/the-four-secrets-to-becoming-an-experience-focused-brand/

Today, 80 percent of customers say the experience a business provides is as important as its products and services, based on Salesforce’s State of the Connected Client report. When customers say”experience,” they aren’t necessarily asking for interactive or immersive advertisements; insteadthey expect consistency, personalization, and advantage. These encounters include an assortment of touch points — from one digital ad, to an organization’s sales process, to product support. In short, great experiences occur throughout a client ’s lifecycle, not just at a memorable moment.

To become an experience-focused brand, marketers should follow these four tips:

1. Get executive buy-in for a new marketing model

We identified the critical differences between advertising organizations, in the third edition of Salesforce ’ s Condition of Marketing report, launched in 2016. The number one difference was executive order to a new notion of marketing, not new marketing ideas.

When executives see the ability of a refocused business model to make experiences that are cohesive and give up the idea that marketing is only a way to improve net sales, they could attain breakout success. In actuality, we discovered high-performing marketing organizations to be prone to significantly beat their direct competitors by a factor of 96.3x.

2. Invest budget to support the customer experience

Experiences are powerful, and creating them is not easy or cheap. In fact, the median number of data sources used by entrepreneurs is forecasted to jump from 12 in 2018 to 15 in 2019, according to Salesforce’s Condition of Marketing report. This number of technologies and data sources that have to talk together to create real-time, experiences that are bespoke can pose a challenge to meeting with high customer expectations.

One question then, is: How much should you invest in client experience — and the technology which makes seamless, scalable experiences possible?

After consulting with CMOs, advertising experts, and venture capital companies, I’ve come to the conclusion that the brand needs to spend between 6% and 12% of revenue, with approximately 15% of that budget for marketing technology. Without to the idea of promotion, you just won’t receive the funds to invest in consumer experience.

3. Encourage cross-functional collaboration

Brands are starting to see cooperation between marketing and other groups with marketing responsible for building better customer experiences. Promotion is the glue for the whole customer experience.

Marketing + Commerce
Currently, 50% of marketing and trade teams share common objectives and metrics. This collaboration allows brands to make true shopping experiences that connect campaigns to get an experience stores, and ecommerce.

Marketing and Sales
Marketing and sales teams have a history of butting heads — or working in silos. However, with the rise of marketing procedures that are account-based, sales and advertising now work closely together. In fact, high-performing marketers are 1.5x more likely than underperformers to collaborate with sales teams on ABM programs.

Marketing and Service
Having a unified customer view, marketing and client service teams operate as extensions of one another. For instance, roughly 6 in 10 advertising teams today monitor customer satisfaction and retention, and 53% of advertising teams share common objectives and metrics with service teams.

When entrepreneurs become advocates for client experience, they can empower all teams to serve the customer’s needs.

4. Advocate for a customer experience pioneer

This definition of advertising changes everything from how advertising handled, implemented, and is looked at. Brands like Motorola, J.Crew, and Publicis, have placed new executives responsible for customer experience, dubbing these leaders chief experience officers. Their role is to ensure a consistent customer experience across the entire business. This CXO is the head of promotion.

In a conversation with Diane Magers, CEO at Customer Experience Professionals Association, she described the role of marketing leadership. She sees marketing leaders as”bridge builders.” They must create links between departments to ensure all customer experiences are consistent and optimized. Instead of rallying around customer experiences if not, each department will operate with goals.

To get a deep dive into what the next five years hold for promotion, see our webinar “The Future of Marketing: 2019 Edition. ” This webinar covers a broad range of topics, from foundational changes in the function and scope of advertising, to the way your information use will be in-depth and grow during the next five decades.