In today’s world, digital transformation has taken precedence in organisations at scale. But what’s interesting is that it’s not the organisations driving this change – but instead the consumers.
Which is why, to serve as guides through this changing landscape, Meiro and Blink Digital in partnership with She Loves Data and Home Credit Philippines led the Smart Customer Segmentation webinar on the 9th of July 2020 to an audience of over 120 attendees.
Showcasing actionable tips, tricks and emerging trends to better segment, identify and make deeper connections with customers. Most importantly how to use data technology in the right way that can positively impact the bottom-line.
Let’s take a look at the highlights of this exciting webinar:
Tips on Customer Segmentation
The webinar kicked off with Pavel Bulowski, Co-Founder of Meiro shining a light on the key driver of the future of Customer Segmentation – First-Party Data. Presenting it as the most valuable & yet the most under-utilised resource available to every organisation.
After a brief introduction to Market Segmentation and its types, Pavel looked at a case study of how an online shop failed to identify him across different touchpoints when instead they could optimise and redirect their resources. Leading to a deep dive into the top 5 data problems organisations face today – data quality, customer identity, taxonomy, time sensitivity and data access, in addition to looking at the various factors that came into play within each of these.
A use-case of Meiro CDP used by Meiro itself (the classic ‘eating your own dog food’ of the industry), showcased how behavioural segmentation helped to reach new customer bases.
Pavel then rounded up his presentation with a look at the future of data:
- An emphasis on consumer privacy driven by tech and legal frameworks alike.
- A stronger reliance on real, cleaner data for more valuable, effective personalisation.
- Humans & Machines working together to drive better experiences to customers
- A decrease in 3rd Party Data, and an increase in 1st Party Data – as organisations look for ways to break out and get every advantage to drive their P&L
“First Party Data & how you use it is the single most impactful driver on your company’s P&L”
Turning Unknown Customers into Loyal Brand Ambassadors
Darwin Jacquez of Blink Digital Philippines then took over to give insight into loyalty – the significant factor that brings unknown customers back, turning them into known customers and finally into loyal brand ambassadors.
The presentation began with a look at the shifts in market behaviour – the need of Customer Experience and the digital ‘word of mouse’, as well as the need for companies to be influential and transparent too. Followed by a brief look at the problems most companies face when customers remain unknown.
But what is the secret formula that turns unknown customers into loyal brand ambassadors? Darwin revealed that it is simply, trust. He explained that ‘trust’ is already a major factor right now – as we impart information and access to our various banking, transport and messaging apps.
Darwin then took a look at the evolution of the digital identity – growing the relationship with the customer and incrementally getting to know them better. With ways to do this by rewarding and pleasantly surprising them, always using their data for good, and offering a great Customer Experience at each touchpoint.
Darwin also reiterated the primacy of data, that when combined with trust can lead to a potent advantage – brand love.
“Enterprises no longer compete with their competitors, but rather with the last BEST experience their customers had.”
Consumer Trends 2020
As the concluding speaker, we were led by Daniel Štanc, the Head of Collections for Home Credit Philippines through how data has helped with the changing environment of today, and to leverage better, more informed decisions.
Daniel began with an illustration of 2 personas who’ve loaned from a bank, and the perceptions of each. He then continued to illustrate how the current pandemic has changed the situation – and accelerated the much-prophesied digital revolution. While consumers may have relied on their comfort zone of physical transactions and transactions, due in part to a ‘fear’ of the how, what, and why of entering the online world. Stressing that the pandemic has not only forced organisations, but consumers to turn to the digital world too.
The presentation wrapped up with an interesting look at how segmentation can work in practice – how knowing more about your customers beyond silos can give a comprehensive view and an advantage to an organisation’s decision-making and communications tactics.
“Data is more than just the new oil. It’s the new gold. What matters is how you are able to leverage it.”
The Final Question
The webinar raised some pertinent issues on the perspectives of data and how it drives to better segmentation & personalisation. Jana Marlé-Žižková, the CEO of Meiro then concluded the session with a key question on several marketers’ minds:
“How to leverage data to build better insights, and a better customer experience?”
Pavel offered a suggestion that data strategy must solve for the business strategy, and data could be uniquely leveraged for each organisational goal.
Darwin extended on that by reiterating that customers want to give organisations data, that makes business strategy and the customer experience two essential parts that linked together.
Daniel offered a unique perspective of leveraging data by combining insights of consumer behaviour with data directly from customers to offer a transparent and safer experience.
Missed the webinar but still want to catch all the insights?