Marketing IS (Can Be?) an Experience
Early on I discovered something from the work of leaders in data-based marketing business models: they were always very concerned with post-campaign execution – not only from marketing, but also through product, distribution, and service. I thought this strange, until I realized they knew something I did not: when you have customer data, you can actually identify and fix negative customer value impacts caused by poor experience.
This means you can directly quantify the value of customer experience, budget for fixing it, and create a financial model that proves out the bottom line hard money profits (or losses) from paying attention to the business value as a result of customer experience.
And critically, this idea becomes much more important as you move from surface success metrics like conversion and sales down into deep success metrics like company profits. Frequently you see the profit / loss from “marketing” often has less to do with campaigns and more to do with the positive or negative experiences caused by campaigns.
Examples
You might think taking the time to provide special treatment to brand new customers would always encourage engagement and repeat purchase. You’d be wrong. Sometimes this works, sometimes this does not work, depending on the context of the customer. Does it surprise you to find out customers often do not want to be “delighted”?
Continue reading Measuring the $$ Value of Customer Experience
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