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Customer's New Voice: Extreme Relevancy and Experience through Volunteered Customer Information

Book Description

Find out how to reap the benefits of motivating and engaging the new, direct customer voice

The Customer's New Voice shows businesses how to motivate and transform directly volunteered consumer knowledge into profitable insights, enabling a new echelon of marketing relevancy, customer experience, and personalization. With a deep look at the inner workings of how a modern generation of business innovators are tapping into the fresh opportunities with the customer's new voice, this book describes how businesses are transforming "inference-based" predictions of purchase intent with direct consumer knowledge of their actual intentions and buying context. The result: An untouchable/unprecedented level of offer relevancy, experience, and personalized service levels.

Those offers range from the most basic app model of "Give me your physical location, we'll find the best Thai restaurant near you, and give you an instant coupon" to a more complex model such as an Electric utility value proposition: "We'll give you discounts to charge your Prius during certain times to help us optimize our grid efficiency while allowing Toyota to monitor and optimize your battery to enable Toyota's R&D and customer experience enhancement." Forty case studies detail proven approaches for directly engaging the new consumer, showing companies how to take advantage of rapidly evolving personal technology—smart phones, homes, vehicles, wearable technology, and Internet of Things—and the new sharing culture to collect the higher value "intentionally/ discretionarily" shared information. Readers gain access to a robust tool set including templates, checklists, tables, flow diagrams, process maps, and technical data schematics to streamline these new capabilities and accelerate implementation of these transformational techniques.

Ninety percent of the data that businesses use to determine what they sell or how to personalize a customer experience results from consumers unintentionally volunteering "indirect" data; however, this type of data has less than 10 percent accuracy. This low effectiveness also necessitates up to 70 percent of a business's cost infrastructure. Direct consumer knowledge is now available and boasts up to 20-50 percent accuracy, yet businesses remain anchored in the old "indirect" competencies. This book helps companies integrate compelling sharing motivators and controls for consumers to feel motivated and safe about directly sharing their product and experience desires, providing the ultimate market advantage.

  • Learn how to catch up to the new digitalized consumer

  • Leverage direct consumer information from current megatrends

  • Navigate privacy's current and future metamorphosis

  • Unlock the untapped value of Big Data's true enabler—Little Data

  • Parsing "incidentally" volunteered data has been stagnant for decades due to the capabilities and expectations of a new generation of enabled consumers

    The timeless reality is that any level of investment in computing power, data, and analytics will never approach their full ROI potential without interfusing the direct, intentional insights from the consumer. If today's forward-thinking companies want to profitably engage the new consumers, they must learn the secrets of motivating and safeguarding this new potential of customer transparency. The risks of not engaging these new consumer voices? Irrelevancy and Silence. The Customer's New Voice shows businesses how to fulfill the promise and caveat of the new consumer: "If you make my life easier, reward me, and respect my shared information: I will tell you my secrets."

    Table of Contents

    1. Foreword
      1. Notes
    2. Preface: New Voice, New Competencies
    3. Acknowledgments
    4. Part I: Dawn of the New Customer
      1. Chapter 1: New Information Masters
        1. Informed
        2. Sharing
        3. Mobile
        4. Future Masters
        5. Notes
      2. Chapter 2: Power and Transparency
        1. Absolute Power
        2. New Transparency
        3. Note
      3. Chapter 3: Age of Sharing
        1. Historical Sharing Tools
        2. Sharing Statistics
        3. Intentional versus Incidental
        4. Value of Intent and Context
        5. Science of Consumer Sharing
        6. Notes
    5. Part II: New Voice Innovators’ Win-Win
      1. Chapter 4: Yesterday’s Indirect Information Model
        1. Yesterday’s Model
        2. Legacy of Indirect Information
        3. Privacy Not
        4. Notes
      2. Chapter 5: Emerging Customer’s New Voice Business Information Model
        1. Customer-Direct Information Model
        2. Forces Driving New Voice Engagement
        3. Direct Competencies Required
        4. Unlocking Consumers’ Intent
        5. Notes
      3. Chapter 6: Today’s Customer’s New Voice Vertical Industry Innovators
        1. Industry Innovators (Vertical)
        2. Notes
      4. Chapter 7: Horizontal Industry Innovators
        1. Collaborative Consumption (Sharing Your Stuff)
        2. Quantified Self
        3. Wearable Technology
        4. Mobile Health
        5. Internet of Things
        6. Triangulated Personal Information
        7. Sensor Technology
        8. Virtual Reality
        9. Augmented Reality
        10. New Customer Information Industry (Consumer as Stakeholder)
        11. The Customer’s Voice
        12. Notes
      5. Chapter 8: Practical Guide: How to Leverage the Customer’s New Voice Today
        1. Scenario 1: Jeff’s Shopping Trip
        2. Scenario 2: Jill’s Grocery Shopping
        3. Overview
        4. Strategy
        5. Marketing and Sales
        6. Customer Service
        7. Information Technology
        8. Notes
    6. Part III: Engaging Tomorrow’s New Voice
      1. Notes
      2. Chapter 9: How Consumers Will Buy Tomorrow
        1. Selling Reincarnated as Buying: New Buy/Sell Process
        2. Advertising Inversion
        3. Notes
      3. Chapter 10: New Privacy
        1. Government/Advocacy Personal Data Initiatives
        2. Pivotal Personal Data Protection Initiatives
        3. Pivotal Business Event Time Line
        4. Notes
      4. Chapter 11: Future Consumer Data Ecosystem
        1. Consumer as Information Stakeholder
        2. Mature Consumer/Business Information Sharing Models
        3. Walking through the Model
        4. Three Key Components Enabling the Personal Data Ecosystem
        5. Frameworks: The Major Ecosystem Governance Mechanism
        6. Volunteered Customer Information Service Characteristics
        7. Personal Information as a Sovereign/Monetized Asset
        8. Personal Data Ecosystem
        9. Notes
    7. About the Author
    8. Index
    9. End User License Agreement