By Nick Adams
For today’s customers, online engagement is often the first point of contact with a brand and sometimes their only measure of customer service.
At Telstra, we recognized that as part of our continual customer focus, we needed to establish a two-way digital dialogue with our customers and get better at delivering a seamless, multi-channel experience. We also wanted to meet their changing expectations and speak to them on a more personal level.
To do it, Telstra embarked on a data-driven digital overhaul in 2011. Back then all 1.8 million weekly visitors to the Telstra website were being presented the same digital experience. The discrepancy between online and offline interaction was not acceptable – for us as a company, for our staff and our customers.
Together with IBM, we strengthened our CRM capabilities and developed a first-of-a-kind Enterprise Marketing Suite. The result is a 360 degree view of customer engagement and the capability to deliver targeted, real-time marketing, and ultimately, higher satisfaction levels for our customers. Continue Reading »
By Yolanda Wang
Even in a world where consumers consult multiple online sources for every purchase they make, the store associate remains the most important face of the retail establishment.
With over 70 percent of shoppers making their most recent purchase in a brick-and-mortar store, it makes good sense for retailers to invest in tools that allow their store associates to provide individually-tailored, real-time customer engagement.
Lately, that’s meant simple and intuitive mobile apps that can turn even inexperienced associates into expert advisors equipped with insights drawn from data and analytics, the collective intelligence of the enterprise, the latest market trends, and data specific to each customer.
And that’s just for openers, because retail customers want more savvy associates who can ensure each shopping trip has a successful outcome. According to IBM’s recent retail study, the number of consumers who consider it important for an associate to solve an out-of-stock problem via a mobile device increased from 41 to 46 percent in the past year. Continue Reading »
We all knew it was coming eventually and IBM predicted it would happen this year as it indeed did – more Thanksgiving shoppers turned to their mobile devices than their desktops to browse through all of the Thanksgiving deals.
Specifically, from IBM Digital Analytics Benchmark we saw 52.1 percent of traffic on Thanksgiving coming from mobile devices, a 22 percent jump from last year. Even more incredibly, if you go back to 2010 only 6.5 percent of traffic came from mobile. That is an eight-fold increase in traffic over only four years.
With regard to sales, mobile devices accounted for 32.3 percent, which percentage-wise was an even greater year-over-year increase at 25.4 percent than the observed increase in mobile traffic. Continue Reading »
By Shanker Ramamurthy
In an era that is highly digitized, there’s no shortage of data for organizations to consume and leverage. But, while speed-to-action should be a given, it’s only recently that the value driver for Big Data has shifted from volume and variety to velocity and veracity.
Capabilities that enable an organization to consume data faster – to move from raw data to insight-driven actions – are now the key differentiator for organizations investing in data and analytics.
According to “Analytics: The Speed Advantage,” a new study completed by the IBM Institute for Business Value (IBV), 74 percent of global businesses and IT professionals anticipate the speed at which business executives expect new, data-driven insights will continue to accelerate. Continue Reading »
By Robert Griffin
“Fraud is a normal cost of doing business.”
Any organization that subscribes to this long-standing mantra needs to rethink their priorities. With 2.5 billion gigabytes of data created every day, fraud is taking on a new face in the Big Data world.
According to the Association of Certified Fraud Examiners (ACFE), organizations forfeit five percent of annual revenue to fraud, which by conservative estimates amounts to more than $3.5 trillion lost each year to global fraud and financial crimes. Fraudulent activity has grown in scope, volume and complexity, with the brash sophistication of recent attacks — and magnitude of damage, both to the brand and bottom line — elevating the anti-fraud conversation from acceptable loss to C-Suite imperative.
Today’s generation of organized and digitally-savvy criminals are using the same technologies that deliver efficiency to business and convenience to consumers — such as mobile devices, social networks and cloud platforms — to constantly probe for vulnerabilities and weaknesses. The pace of this threat continues to accelerate. Identity fraud impacted more than 12 million individuals in 2012, resulting in theft of nearly $21 billion, and each day the U.S. healthcare industry loses $650 million due to fraudulent claims and payments. Continue Reading »
By John Mason
It takes a lot more than a good idea and a solid investment to succeed as a small or medium-size business today. It takes what psychologist, Urie Bronfenbrenner, described as a network of systems.
Bronfenbrenner introduced the idea of the microsystem, mesosystem, and exosystem, in his ground-breaking theory, The Ecology of Human Development, in 1979, and explained how each of these interconnected systems helps shape the individual.
As in society, the various parts of this ecology can be applied to SMBs to better understand their growth and development. Continue Reading »
By Peter Korsten
Customers today wield unprecedented power. Digital tools and an abundance of information allow the modern customer to expect incredible levels of personalization and individualized service. This power is completely transforming entire industries – including fashion, retail, media and entertainment and healthcare.
Companies have long used activities like customer focus groups to figure out how to sell customers what they wanted to offer. This one-way, nonreciprocal relationship will no longer fly. Enterprises can only succeed if they understand and provide what their customers want.
The C-suite is getting the message, judging by a new IBM study conducted by the IBM Institute for Business Value – a study which is based on face-to-face conversations with more than 4,000 CEOs, CMOs, CFOs, CIOs, CHROs and CSCOs and across 70 countries and 20 industries. According to the study, more than half of C-suite leaders surveyed said customers now have a considerable influence on their enterprises. Continue Reading »
By David Rogers
Ever since the rise of online shopping sites like Amazon.com, brick-and-mortar-retail stores haved struggled with the threat of “showrooming” consumers – those who visit a store to see a product in person, but then opt to purchase it later online.
With the rapid adoption of smartphones, this phenomenon has grown even stronger. Today retailers operate in a world in which in-store shoppers have every competing offer in the palm of her hands.
Though retailers are not powerless, to survive, it is critical that they understand the true impact of mobile devices on shopper behavior. Doing so will enable them to shape a retail experience that gives consumers a compelling reason to buy directly from the brick-and-mortar store. Continue Reading »
By Michael Haydock
It’s early August, but back-to-school shopping is already in full swing. In fact, in some cases, it has been for a while. Retailers like Walmart began advertising before summer vacation even began in hopes of capturing consumer dollars in the face of economic uncertainty.
According to IBM’s new Big Data-based forecast, such moves led to strong growth in July. For example, children’s, juniors and other clothing segments were projected to be up over 12 percent, year over year, in July. Spending on this category is expected to dip down to just 1.4 percent in August before returning to a 12.3 percent growth rate in September. (That’s because students typically like to wait and see what their friends are wearing before completing their back-to-school wardrobes.) Continue Reading »