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A Data Driven Approach to Improve Customer Engagement

ABOUT THE REPORT

Across the globe, CMOs battle with questions like – ‘How to ensure a rewarding experience across different touch points in customer journey?’, ‘How can we leverage data and automation to accomplish these?’. Capturing customer data is a given but organizations must improve their maturity on Data Led Customer Engagement (DLCE) to build strategic data use cases for customers to see value. Unfortunately, there is no single guidance or approach to address all these challenges.

This report aims to address this key unmet as it introduces a go to toolkit for CMOs – Stop Hold Purchase (SHoP) framework for assessing the DLCE maturity of companies across various activators. The report also employs these observations to help synthesize top priorities for a CMO to advance DLCE maturity, especially creating a roadmap to achieve the optimal end state in the Loyalty dimension. Also, the introduction of a scientific methodology for determining Loyalty Delivered Sales (LDS) paints a true picture of the business impact delivered by a loyalty program. Holistically embedding the relevant findings in the customer engagement transformation journey of an organization, will help set companies apart going forward.

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How Personalized Data And Loyalty Can Trigger Topline Incremental Growth For Business

SHoP
framework

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Data driven marketing (Stop), Engagement & Loyalty (Hold) and Commerce (Purchase) are the key drivers assuring excellence in Data Led Customer Engagement.

25-30%
Topline Growth

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Incremental topline potential for CMOs in advancing DLCE maturity showing an average increase of ~15% increase by advancing two maturity levels.

7 Loyalty
Levers

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Drive up to 20% topline potential driven by customer behavioral & transactional divergence using Loyalty Delivered Sales (LDS) benchmarks.

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100+
Firms

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5
Industries

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13
Countries

BCG undertook a comprehensive SHoP maturity assessment survey to highlight the key opportunities and gaps across the different customer engagement dimensions which can help unlock 25-30% topline impact.

Key Takeaways

Data-driven marketing

Data-driven marketing is still the most evolved dimension in customer journey thereby amplifying opportunities in customer engagement

Most companies

Most companies have started their DLCE maturity journey. However, >50% companies are stuck in Emerging maturity tier with only 2% Pioneers

Loyalty

Loyalty is typically a stage wise journey for the companies - what differentiates the Pioneer programs are elements boosting customer aspiration and experiential aspects

Firms

Firms have already realized 5-6% revenue increment and see a 5-6% additional potential in future through DLCE maturity

Companies

90% companies have started adopting loyalty programs but the majority are still in their early stages

Faster Deliveries6

An intelligent order management system can foresee bottlenecks in delivery according to real-time conditions, and reroute the delivery onto the fastest route. Additionally, an OMS offers flexibility with delivery. Based on the clients requirements, the order can intelligently be split into multiple shipments based on costs or delivery location. In comparison to a traditional delivery system, using an OMS automatically provides the inventory personnel detailed information on the delivery at hand, leaves less room for human error, saves time and streamlines the entire process.

The Right Customer Loyalty Program For You

Crafting a loyalty program that works for your brand can be tricky, but it is crucial. An effective loyalty program creates an emotional attachment to your brand, and makes customers feel valued. It will increase engagement, and help you understand who your most valuable customers are; but the first and most important step for increasing customer loyalty is to measure your current standing.

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