Clicky

Navigation
X Close

PossibleNOW Blog

Interpreting Preference Data: Defining & Applying Business Rules

Preference Management Video Series

The transition between implementation and improvement of preference management collection is incredibly important, yet there are techniques and methodologies to keep in mind as you make decisions at this stage.

The rules by which data is collected, interpreted and used must be defined in order to successfully drive decisions. In this short video, Eric Holtzclaw introduces some of the key considerations that you should make as you begin to interpret preference data.

By getting back to basics with crucial tenets of your company's goals, including the definition of terms like "prospect" or "customer," or the progression between the two, you keep everyone on the same page when discussing results. At that point, you may have the right words to represent the goals of your preference management project—and your customers' experiences, too.

Why are you collecting preferences? That big question is another that will clarify your value proposition and limit what preferences you collect. (It will also inform collection, storage and liability concerns when it comes to customer data.) Lastly, your customers have a completely different customer lifecycle than another industry's lifecycle. How does that realistically affect your interactions? You know your customers best.

By defining vocabulary, goals, value propositions and customer lifecycles, you can ensure that your preference management collection progresses and improves the customer experience.



In the following weeks, we'll continue to roll out videos to guide you through interpreting preference data. If you haven't yet explored our Resource Center, you can download the Interpreting Preference Data whitepaper here.  



Eric Tejeda is the Director of Product Marketing for PossibleNOW and CompliancePoint. Eric supports the organization’s growth objectives by productizing and launching innovative new products and services that fill critical needs in the marketplace. 

With 25 years of experience, Eric firmly believes that permission-based marketing and preference management is a mega trend and the path to success for marketers today. 

Follow me on Twitter: @EricTejeda | Connect on LinkedIn: Eric Tejeda

In Search of ROI

Through my work I've met with professionals of all backgrounds whose jobs span the professional spectrum. And many face the same challenge: delivering measurable return on investment. It's par for the course that departments need to represent their successes, but it's a bit tougher for marketers to pinpoint cause and effect when they work on so many fronts.

So when Leapfrog Marketing Institute's CMO Benchmark Survey showed that 93% of CMOs were under pressure to deliver, I was sympathetic. That vast number - over nine in ten marketers who are expected to deliver measurable ROI - offers a glimpse into the struggle to quantify results: internal silos, limited expertise with technological solutions, and skeptical executives who are looking for the quick fix.



The pressure to present results is maddening, but what complicates matters is the fact that so few companies even have the ability or data to deliver those results. If you're expected to show return on investment but you're faced with those silos, a lack of technology and impatient executives, you're left spinning plates and crossing your fingers.



No matter the industry, preference management not only paves the way for a modern omnichannel approach, but it also forces silos to break down and provides quantifiable data. Preference management, the active collection, maintenance and distribution of unique consumer characteristics, such as product interest, communication channel preference and frequency of communication is an initiative that can be rolled out slowly, allowing early stages to prove the ROI before expanding to additional touchpoints.



Because preference management is built from consumer opt-ins, the initial data is already positive – indicating which customers are ready to start a conversation with your brand. Moreover, additional data will continue to enhance the relationship by establishing preferences stated by the consumer himself.



So sure, proving marketing ROI is difficult when you have few tools, but so is breaking down silos and impressing both executives and customers. Everyone's looking for those ROI numbers, preference management can help you find them.




About the Author: 
Eric V. Holtzclaw is  Chief Strategist  of PossibleNOW. He's a researcher, writer, serial entrepreneur and challenger-of-conventional wisdom. His book with Wiley Publishing on consumer behavior - Laddering: Unlocking the Potential of Consumer Behavior - hit bookstores last summer. Eric helps strategically guide companies with the implementation of enterprise-wide preference management solutions.



Follow me on Twitter: @eholtzclaw | Connect on LinkedIn: Eric Holtzclaw

ICYMI: Preferences, Privacy and Personalization in the News

NBC to Guarantee Advertisers Will Reach Targeted Audiences

Starting this season, NBCUniversal will guarantee that ads are seen by particular audiences – and if an ad isn't seen by the viewers it was intended for, the broadcaster would provide the advertiser additional, free airtime. The promise is based on improved analytics that pinpoint viewers, more closely mimicking the "precision of the Web," which bases display ads on users' browsing history. Click here to read more.

Facebook's AI Is Now Automatically Writing Photo Captions

Facebook's new Automatic Alternative Text works with text-to-speech engines that allow blind people to use the social network. The company's artificial intelligence can now automatically generate descriptions of photo subjects by identifying particular characteristics or objects. While the technology isn't perfect, it's vastly improved the network's accessibility for vision-impaired users. Click here to read more.


This $499 magic mirror could make you fitter than ever

New technology makes it possible to get up-to-the-minute and highly precise measurements of your body – making things like working out or clothes shopping more informed. The Naked 3D Fitness Tracker is a sensor-equipped mirror that works with a Blutooth-connected scale that rotates, allowing the mirror to scan you in 20 seconds. The result is a full 3D scan with reports on where your body is gaining fat (or muscle), paired with the ability to compare results over time. Click here to read more.

What Lilly Pulitzer Learned About Marketing to Millennials

Women's retailer Lilly Pulitzer markets itself to a broad demographic, saying they like to dress "women from 9 to 90." So targeting millennials couldn't be at the risk of alienating the rest of their customer base. The company found great success in using engagement strategies to reach their target clientele – improving the online and omnichannel experiences, and analyzing purchse data to develop relevant personalized marketing. Click here to read more.

Google's Calendar Now Finds Spare Time and Fills It Up

The juggle between personal and business appointments may have a helper: Google. Using the company's calendar feature, algorithms can automatically schedule things like exercise or reminders to have a discussion with family members. By prompting users to set goals (Goals, incidentally, is the name of the product), the calendar app will learn to schedule around existing appointments to help you find time to get what you want done. Click here to read more.






Eric Tejeda is the Director of Product Marketing for PossibleNOW and CompliancePoint. Eric supports the organization’s growth objectives by productizing and launching innovative new products and services that fill critical needs in the marketplace. 

With 25 years of experience, Eric firmly believes that permission-based marketing and preference management is a mega trend and the path to success for marketers today. 

Follow me on Twitter: @EricTejeda | Connect on LinkedIn: Eric Tejeda

Research Shows Marketing Personalization Misses The Mark

Here's what a leading CMO told me recently when I asked about the quality of their CX and personalization: "We are using new CRM technology to automate old, bad behaviors…not being guided by how our customers define improved CX. Result: High volume, irritating and brand damaging spray and pray."

Per VoC research conducted by our firm among customers and lost customers of leading brands, many marketers are kidding themselves when they say they’re doing personalization. What they are really doing is putting lipstick on tired, transactional emails and blasting them from the latest and greatest CRM technology.

As John J. Curtis, SEO manager at Walgreens stated regarding the importance of content and CX, "Good content marketing is designed for your customer…. with any tool, you have to use it properly for the job you're doing, and every tool isn't used for every job. … [Assess] the issue at hand, identify the customer need, …then decide what to grab from the toolbox."

Per the VoC research findings, here are three ways to stop damaging consumer relationships and start delivering truly personalized CX:

Fulfill The Promise Of Value
As illustrated by the recent Apple privacy controversy, consumers clearly understand the value of their personal information and are willing to provide marketers with that information if there is a promise of value in exchange for this interaction.

However, all too often this is what people are telling us in the VoC research:
"What we receive is not smart personalization. They aren't personalizing the things that matter to me."

"What they consider personalization is so old-fashioned"

"I want more than just buying history-based emails."

"With today's technology, I expect the experiences and emails to reflect my interests and preferences."

Enable Customers to Drive Personalization per their Individual Preferences
Reciprocity of Value is a fundamental requirement for gaining in-depth customer information in exchange for significantly improved preference-driven personalization.

Customers want explicit, preference-based personalization, such as product recommendations that are based on their previous shopping history, favorites, or noted preferences.

Consumers also want to be partners in their personalization. They also want the ability to correct a company's algorithm when it picks up on the wrong signal such as a purchased gift that was not in line with their own preference-based wants and needs.

Don't Be Afraid to Request Appropriate Personal Data
Sephora uses shopper data to deliver amped-up CX by gathering data on shopping habits. Actions analyzed to deliver a more personalized experience include behaviors and interactions within product pages. Choices indicate intentions that can be used to develop a more personalized user experience at three specific shopping stages: consideration of a purchase, planning a purchase or ready to purchase.

The important point to remember is that even with privacy concerns, your consumers are willing to provide the information you need to boost their CX interactions to a higher level. The problem doesn't lie with consumer willingness; the problem lies in marketers' abilities to deliver in-depth personalization and high levels of value.



About the Author:
Ernan Roman Direct Marketing's Customer Experience strategies achieve consistent double-digit increases in response and revenue for their clients, which include IBM, MassMutual, QVC, Microsoft, and Symantec Corp.

As a leader in providing Voice of Customer research-based guidance, ERDM has conducted over 10,000 hours of interviews with their clients' customers and prospects, to gain an in-depth understanding of their expectations for high-value relationships.

The results achieved by ERDM's VoC-based strategies earned Ernan Roman induction into the Marketing Hall of Fame.

Visit his blog at: http://ernanroman.blogspot.com/

Using Oracle Eloqua? Make Sure You’re Managing Preferences

We're excited for the upcoming Modern Marketing Experience 2016 in Las Vegas, and we've had some great years at the event in the past. Like last year when Oracle Group Vice-President Steve Krause and Oracle Eloqua Product Leader John Stetic's keynote presentation highlighted the beneficial aspects of our preference management platform, MyPreferences, as a means to gather opted-in consumers.

So in preparation for this year's event, we know everyone is keyed up to learn more about modern cross-channel orchestration. If you're using Oracle Eloqua, there are some interesting integrations available to maximize those campaigns. One such program is MyPreferences, which helps you integrate enterprise class preference management with Oracle Eloqua to learn from and act on on the voice of your customer.

MyPreferences for Oracle Eloqua is available through the Oracle Marketing AppCloud and allows marketing teams to seamlessly collect, store and distribute customer and prospect preference data in order to synchronize brand communications.

The components of MyPreferences for Oracle Eloqua are threefold: MyPreferences Sync enables marketers to easily integrate preference data within a central repository in near real-time, ensuring synchronized communication preferences, frequency preferences and contact preference attributes; MyPreferences Connector enables marketers to update their database with up-to-date preferences from channels outside of Oracle Eloqua, allowing for informed campaigns; MyPreferences Decision Service allows marketers to drive campaign delivery based on preference information captured through other channels and departments without incurring the overhead and cost of storing all of that data in Oracle Eloqua.


For marketers, this means that attracting and retaining customers becomes simplified with customer-centric personalization that's data-driven and compliant. Preference management, the active collection, maintenance and distribution of unique consumer characteristics, such as product interest, communication channel preference and frequency of communication, is a valuable tool in customizing and synchronizing conversations with consumers. 


Marketers using MyPreferences solutions have reported retention rates as high as 95 percent. Clients who have the ability to track stated preferences, opt-ins and even opt-downs can focus on delivering their most targeted campaigns. Have you integrated MyPreferences for Oracle Eloqua yet?



Eric Tejeda is the Director of Product Marketing for PossibleNOW and CompliancePoint. Eric supports the organization’s growth objectives by productizing and launching innovative new products and services that fill critical needs in the marketplace. 

With 25 years of experience, Eric firmly believes that permission-based marketing and preference management is a mega trend and the path to success for marketers today. 

Follow me on Twitter: @EricTejeda | Connect on LinkedIn: Eric Tejeda

PossibleNOW’s Enhanced Compliance Protections for Velocify

For sales staff, regulatory challenges can be a frequent roadblock to prospecting. But our new partnership with Velocify has led to PossibleNOW's integration with the platform—allowing sales teams to continue to capture, engage and convert more leads into customers while also ensuring the process includes compliance verifications.

Helping other companies to capture, engage and convert more leads into customers is the hallmark of what PossibleNOW delivers. By enhancing Velocify's sales acceleration platform with our DNCSolution technology, the leading Do Not Call solution for direct marketing companies, Velocify will continue to respond to new prospects, prioritize activities, drive consistent selling practices, and generate revenue. At the same time, PossibleNOW's technology will seamlessly verify prospects' Federal Do Not Call (DNC) status, confirm the presence or absence of a qualified business relationship and automatically identify wireless numbers.  

"Integrating the best DNC verification and compliance technology to our platform was an obvious priority and PossibleNOW has delivered it," said Martin Lind, Business Development Director at Velocify. "We're excited about the partnership and the value it brings to our customers."

We agree that Velocify's groundbreaking platform is an ideal fit for our industry-leading compliance technology. "This important integration adds demonstrable value for our shared clients and empowers them to grow and compete without the distraction of regulatory challenges," said Ron Patrick, Director of Product Architecture of PossibleNOW. 



Eric Tejeda is the Director of Product Marketing for PossibleNOW and CompliancePoint. Eric supports the organization’s growth objectives by productizing and launching innovative new products and services that fill critical needs in the marketplace. 

With 25 years of experience, Eric firmly believes that permission-based marketing and preference management is a mega trend and the path to success for marketers today. 

Follow me on Twitter: @EricTejeda | Connect on LinkedIn: Eric Tejeda

Interpreting Preference Data: From Implementation to Improvement

Preference Management Video Series

After unrolling preference management and making initial course corrections, there will come a point when your company is ready to get to the next level. If your company has followed best practices and worked through design and functionality of preference centers, you're ready to work toward improvements.

Yet there are factors that marketers should keep in mind when weighing which improvements to make:

  • The interaction between design and content is difficult to isolate. Thoughtful design alone can't fix content that lacks clarity; likewise, confusing design can obscure great copy. 
  • Your view from inside the company is vastly different from consumers' understanding of how the brand operates. Internal operations and silos can prevent alignment with customer expectations. 
  • When adjusting and improving the preference center and resulting customer interactions, it's important that changes are oriented toward business goals. Making uninformed changes will deliver mixed results. 


In this short video, we introduce the ways in which organizations can advance their preference collection and improve relationships with customers.



In the following weeks, we'll continue to roll out videos to guide you through interpreting preference data. If you haven't yet explored our Resource Center, you can download the Interpreting Preference Data whitepaper here



Eric Tejeda is the Director of Product Marketing for PossibleNOW and CompliancePoint. Eric supports the organization’s growth objectives by productizing and launching innovative new products and services that fill critical needs in the marketplace. 

With 25 years of experience, Eric firmly believes that permission-based marketing and preference management is a mega trend and the path to success for marketers today. 

Follow me on Twitter: @EricTejeda | Connect on LinkedIn: Eric Tejeda

Translate

Search This Blog

Loading...