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The Personal Economy | bruce kasanoff

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1 The Personal Economy | bruce kasanoff

2 7 We are seven years or less from personalization being the major driver of our economy

3 Identify Differentiate Interact Customize The four basic strategies of personalization (Peppers and Rogers Group, circa 1993)

4 Strategy Common Sense How to Two golden rules Today… keeping it personal

5 You’re intelligent. Is your company?

6 does it have something worth telling each customer? does it know each customer well enough to know what to tell this one? knowledge intelligence

7 knowledge intelligence Sustainable profits come from knowledge that your competitors lack. Using knowledge to benefit both your firm and your customer.

8 Susan Lyon, Lyon & Associates (advertising and design firm) “We knock ourselves out to interact with other departments to make it very easy for marketing to work with us. We figure out where the P.O.s are in approval, why invoices are stuck, we deal directly with legal to get approval of ads, etc.”

9 Bobby Stark, Hammock Publishing (custom publishers) “We know our customers’ goals and objectives. It sounds simple, but it’s amazing how many firms don’t bother to spend the time to invest in learning about their customers. We know our customers’ businesses better than many of their own employees.”

10 personal = intelligent the vision (and intelligent firms capture knowledge faster) Now let’s put this in terms everyone in your firm can understand…

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12 help customers waste less MONEY

13 take less of your customer’s TIME

14 give your customer less INFORMATION, but more knowledge

15 require less EFFORT of your customer

16 $ i time wasted money wasted irrelevant info effort When customers benefit from less… Stronger loyalty Growing sales Lower costs (in the long run) Faster reactions your company benefits, too

17 Married 2 children Tabatha age 6 William age 3 Owns 04 Nissan Maxima 3 tickets since 1997 Drinks too much Seldom exercises Can be troublesome Mother deceased 1992 Father deceased 1998 Low savings rate Be careful… Hired 4/15/01 Last promoted: 4/08 Cost to service: high Expertise level: low Cooperation level: low (100=normal) Web usage: 115 usage: 135 Event attendance: 78 Satisfaction predictor: Renewal: low Referral: low

18 Strategy Common Sense How to Two golden rules Today… keeping it personal

19 Common Sense The Personal Economy is made possible by the evolving ability of companies to sense a customer’s needs, movements, location, or status

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21 LET’S MAKE A DEAL

22 Prime Sense

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27 a few words about speed

28 (created by Column Five Media for Gigaom)

29 Internet Trends 2010 by Morgan Stanley Research

30 Strategy Common Sense How to Two golden rules Today… keeping it personal

31 Embed “personal” in your firm’s processes and products L earn E liminate S ense S implify Learn from your customers, and remember what they tell your firm. You need easy-to-use, accurate databases

32 Embed “personal” in your firm’s processes and products Eliminate practices that waste your customers’ time, money or effort. Look at interactions from the customer’s perspective L earn E liminate S ense S implify

33 Embed “personal” in your firm’s processes and products Build sensors into your products and processes. Connect to sensors controlled by the customer or other companies Without senses, you can’t respond intelligently. L earn E liminate S ense S implify

34 Embed “personal” in your firm’s processes and products Simplify your customer’s life Give your employees the freedom to innovate and to accommodate customer needs L earn E liminate S ense S implify

35 Strategy Common Sense How to Two golden rules Today… keeping it personal

36 companycustomer Personalization works in the space where both benefit. Build a win-win culture

37 8 words

38 remember information for customers (not just about them)

39 The Personal Economy | bruce kasanoff


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