The digital marketing landscape has become saturated. From less than 100 brands in 2011, the number has now ballooned to 3500 in 2016, with hundreds of new players claiming to revolutionize the digital marketing world, and boost your conversion rates by two or even three digit figures, with tantalizingly small implementation times and costs.
The promise of ultimate conversion optimization and revenue generation sounds tempting.
In the drive toward those however, the experience itself has been left by the wayside, in favour of the proliferation of a non-stop testing culture. The focus at large is on delivering WYSIWYG products that purportedly drive fast revenue-KPI uplifts, overlooking the need to focus on what it really takes to provide a strong long term digital experience.
Be customer centric, not revenue driven
The key change across all industries is reorientation around the customer. When Econsultancy recently asked for the most important characteristic in establishing a truly “digital-native” culture, the lead response (58%) was become more customer centric.
A great digital experience, rooted in a customer-centric strategy, will deliver greater revenue in the long term. Achieving this starts with three simple steps:1. Start
The first thing to do is start actively building a culture with the customer at the center of your company objectives. Once culture, teams and your company mission are aligned around customer needs, you can define the metrics that will be known and used by everyone in the company moving forward. KPIs like customer lifetime value (CLV), customer equity, CLV by channel and NPS will all help mould your experience around the customer.2. Learn
Learn to be adaptive by using detailed customer insights to test, learn and act quickly. Make sure to remove any functional silos preventing customer data sharing by adopting a transparent data collection and sharing approach. Here at Qubit, we’ve been developing the Visitor Cloud with the objective of giving our clients the freshest and most complete customer information possible by combining all the available visitor data.
3. Shift focus
Focus on customer metrics instead of revenue metrics and invest in key technology platforms to support these metrics. Don’t be blinded by pure revenue uplifts generated by AB tests and instead closely monitor how customer metrics influence your long term metrics. If you ever doubt the effectiveness of a great overall digital experience, just remember how long it took Amazon to become profitable. Personalization is just a means to an end: a great Digital experience.
Conclusion: Think big picture
“In order to properly understand the big picture, everyone should fear becoming mentally clouded and obsessed with one small section of truth.” - Xunzi
We’ve all heard that Big Data can help you build a 360 degree customer profile. For most that remains something to aspire towards, and short-sighted testing approaches will only frustrate efforts to deliver an advancing and improving experience. Instead, organizations placing digital customer experience software tools at the heart of their experience will be able to leverage all the available data to deliver greater and ever more sophisticated personalized experiences.
For more information on Qubit Visitor Cloud and how it helps our customers to deliver their Big Ideas and exceed customer expectations, click here.
Photo Credit: Chief Martec, January 2014