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Reimagining the Digital Market Experience

Learn how future-ready enterprises will use cognitive processes to drive great customer experience initiatives. With insight-driven, automated decisioning engines and predictive models driving deeper human engagement, see how these cognitive models are leading up to increased brand affinity and consumer loyalty. Learn more:

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Reimagining the Digital Market Experience

  1. 1. Shirish Lal, CIO & CTO, Harte Hanks Satish Chandra Bhaskara, Wipro Reimagining the Digital Market Experience Transforming customer experienceby leveraging cognitive models
  2. 2. § The most advanced organizations such as Amazon are leveraging technology, data, and analytics to transform their Go To Market processes and Customer Experience § Amazon has incorporated real time predictive and behavioral analytics into the optimization of its touchpoints with the customer § Most organizations are far behind Amazon in the use of Real-Time Analytics § Significant challenges exist in internally catching up to what Amazon has done § CIOs have an opportunity to enable organizations to leverage technology to redesign core GTM processes to drive revenue and gain competitive advantage § Exploring Technology, Build Cognitive Models to Automate, bring Personalization and Preferences, by Leveraging Data. § Harte Hanks and Wipro have partnered with technology leaders such as SAP, Opera, and user mind to offer a rapid, cost effective approach to Go To Market Transformation. Overview
  3. 3. Use of personalization in CRM marketing DirectMail Psychographic, Demographic Personalization (CRM 1.0) Multichannel Pyshographic, Demographic Personalization (CRM 2.0) True1 to 1 Omnichannel Analytically Driven “In the Moment” Behavioral Personalization atthe individuallevel (CRM 3.0) Alexa: AI interface (CRM 4.0) COSTANDCOMPLEXITY Pre-CRM Human to Human ü Data Driven ü Cognitive ü Decision asoutcome ü Hyper-Automation ü Insights ü Real-Time ü Contextual ü as a Service
  4. 4. There are major business opportunity and cost gaps between those who can deliver Customer Centered Marketing and those who can’t. Sales data from MyBuys’database of some 250 million shoppers: Customer- centric marketing delivers a 25% increase in total onlinesales and a 300% improvement in customer lifetime value, according to the company.1 MORE SALES Automated personalized experiences generate 50% more leads – at a 33% lower cost, on average.2 GREATER ROMI .
  5. 5. Amazon embraced customer centricity early on. Now they are the ones setting the bar. "Our vision is to be earth's most customer-centric company; to build a place where people can come to find and discover anything they might want to buy online.” Two key pillars to delivering customer centered marketing… AM AZ ON. C OM M I SSI ON STATEM ENT Experience: Make the customer experience easy, enjoyable and convenient. Happy customers will share their positive interactions with your brand. Communications: Personalize the message to customers, based upon what they buy, and in a way they like. Provide tailored, relevant communications based on customer preferences.
  6. 6. Amazon: Use of Analytics to Drive Real-Time Personalization 300+ microservices executed from 1st to 2nd Web page Business Intelligence Decisioning Engine eCom Presentation § Real-time behavioral and predictive analytics at the customer level § Continuous learning enablement § Machine learning and AI enabled § Agile low cost development of content § Lego-like approach to allow maximum reuse Micro-Content Store § Manage customer journey logic § Manage A/B and multivariate testing § Microservices architecture
  7. 7. But there are many barriers for corporations who seek to achieve “Amazon-like” personalization. § Thousands of Hadoop, Spark, and Cloud engineers § 1000+ Economists and Data Scientists § Appeal of working at a cutting edge tech firm § Amazon has gotten to its current approach over a multi-year journey § Amazon has massive eCom scale § Amazon has limited near term earnings pressure § Duplicating Amazon approach likely in 9 figures or more Investment TimeHuman capital
  8. 8. Harte Hanks and Wipro Nextgen personalized eCom solution • Leverage Hybris Commerce microservices architecture with personalization engine in Hybris Marketing • Creates a Real-time Behavior, Predictive, and Decriptive System of Intelligence • - 4GL approachdrastically reduces costand time • - Proven implementations in multiple Global 500s • Practice focused on assessing, designing and refining customer journeys • Pre-integrated third party data from 10+ best of breed B2C and B2B providers • WIPRO offers low cost approach to deploying a services layer to legacy systems • Agile, Low Cost onshore/offshore content development Signal hub | BI engine which: Legacy systems: Harte Hanks agency: Harte Hanks customer journey logic: Harte Hanks Global Dataview: API MICRO CONTENT 3RD PARTY DATA eCom | WIPRO/Harte Hanks SAP Hybris Practice:
  9. 9. Using signals to optimize the customer journey & deliver more powerful customer experience across interactions Shopping Purchase Journey & Moments of Truth AWARENESS EXPLORE BUY NEXT BUY Targeting/ Re-targeting Dynamic Offers G U E S T / M E M B E R T A R G E T I N G , S E G M E N T A T I O N & I N T E L L I G E N C E Post Purchase: Services LOYALTY / ADVOCACY Loyalty Status Tracking LOYALTY ON-BOARD & ACTIVATION Brand Messages Welcome to My Best Buy Personalized Web Recommendations POST-PURCHASE Small BusinessesConsumer Shoppers “Enabled” Customer Interaction Channels Orchestrated Personalized Interactions & Precision Treatments “In the Moment” Signal:Intent to Buy Signal Signal:Spend Passion Scores Signals:Next Product to Buy Based on Preferences
  10. 10. Go To Market Transformation: Direct Mail Traditional Direct Mail Approach • Low Cost per Piece • Target large audience regardless of purchase stage • Pre-planned timing • Limited personalization • <1% Response Rate Real-time Driven Direct Mail Approach • Medium to High Cost per Piece • Trigger mail in real time based on prospect’s digital and other activity • High degree of personalization based on real- time information • 5+% Response Rate • 10x+ conversion improvement versus digital retargeting
  11. 11. Digital Marketing as a Service Business Objectives n Send Personalized content to Customers n Recommendations based on the Most RecentPurchases n Precise Targeting of Customers considering , Opt in , Opt Out and No Spam Scenarios Key Challenges n Execute Campaigns Mutual Exclusively n Customers who are approached in one campaign must filtered from other campaigns of the same brand. Wipro Solution n SAP Hybris Marketing on Cloud Implementation n SegmentationSolution using Mutual Exclusion Principles both at Targetgroup and Campaign Execution Benefits n Engage directly with consumers n Simplified architecture,maintenance and user adoption n Single platform to manage data and analytics capabilities
  12. 12. Conclusion § In a Voice Interface Future, extreme personalization will move from a differentiator to minimum requirement § A legacy technology infrastructure and approach to personalization will be extremely disadvantaged § Cognitive computing and artificial intelligence are already integral to marketing and sales operations § Harte Hanks, Wipro, and SAP can help you on your path to Go To Market Transformation Plan for the future
  13. 13. Appendix
  14. 14. Digital capabilities investment strategy CIO as revenue generator CIO as cost center Build is difficult in early adapter or early majority stage Shrinking product lifecycles put more pressure on build strategy SaaS and IaaS make buying easier Early adopter: High cost High risk High differentiation Early majority: Medium to high cost Medium/high risk Medium/high differentiation Mass market: Low/medium risk Low/medium cost Low/medium differentiation ?Lxxx: Low Low No differentiation
  15. 15. Personalization Go To Market Systems Roadmap R / SAS Analytics Engine Real Time Analytics Hadoop based Nextgen Database System 3rd Party Data Marketing Automation Sales Automation eCom CRM POS Core GTM Systems CMS SignalHub: Analytics and Data Platform that serve as “System of Intelligence” § Scalable Compute and storage § Machine Learning § Deep Insights – Convert Data into Information § Significant automation of analytics capabilities Partnerships developed with key best of breed specialty MarTech providers Personalization Data Enhancement & Predictive ModelingContent Management Nextgen Front Office Middleware Provider § Pre-built interfaces to all major Marketing Cloud, Sales Automation, and eCom platforms § Simple interface for programing actions across all customer touchpoints based on customer segment/stateMI D D L EWAR E 1st Party Data
  16. 16. But there are many barriers for corporations who seek to achieve “Amazon-like” personalization. § Thousands of Hadoop, Spark, and Cloud engineers § 1000+ Economists and Data Scientists § Appeal of working at a cutting edge tech firm § Amazon has gotten to its current approach over a multi-year journey § Amazon has massive eCom scale § Amazon has limited near term earnings pressure § Duplicating Amazon approach likely in 9 figures or more Investment TimeHuman capital