Nearly every business is keen to drive a positive customer experience. Businesses are constantly striving to improve the customer experience through investments in customer service, support, conferences, events, and countless other initiatives. Oftentimes, however, the business’s investments are wasted because marketing and customer-facing teams are not sure what the ideal customer journey looks like and are therefore misaligned. Misalignment can take many forms, but we often see this take shape by having marketing campaigns that compete with each other, customer service teams that are unsure how to manage certain buyers, and dashboards or metrics that don’t actually measure successful customer engagement.
Success in using software solutions like Canopy Labs requires organizational alignment and a clear idea of which customer experience metrics should be tracked and optimized. This is why Canopy Labs kicks off new business relationships by running a customer journey workshop. We work with organizations to map the current and ideal experience for their “typical” customers.Read More
Net Promoter Score (NPS) has become a KPI at many organizations, and for good reason. It is simple to measure and has the distinctive ability to indicate how the business will perform on several other metrics, including customer retention and revenue.
The challenge with current NPS data approaches
While NPS is easy to measure, it is difficult to improve. Organizations understand that detractors have low NPS because they have had an unsatisfactory experience at some point in their customer journey. However, identifying where or when the unsatisfactory experience occurred is a challenge. This is especially true for financial services organizations, where customers have unique and complex journeys through various different products and services. NPS suffers from these challenges for a few reasons:Read More
Canopy Labs hosted an interactive panel discussion focused on personalization throughout the customer lifecycle on March 8, 2018, welcoming thought leaders and innovators from diverse industries.
5 Tips to Increase Engagement and Loyalty as a Transaction Based Firm
- Offer free previews and packages for current customers to maintain dialogue with prime target audiences months in advance to new releases.
- Present a blended digital campaign and gift guide leading up to the holiday season to spur up excitement for the prime sales season.
- Create content personalized to a community instead of blast marketing using mass promotions and advertising.
- Target content to individuals based on tracked behaviour, not self-selected preferences.
- Invest in the creation and implementation of more advanced digital tools allowing for higher customer engagement.
On March 8, thought leaders in marketing and eCommerce shared their insights on the value of personalizing the customer journey and explored the intricacies of integrating marketing interventions into the customer lifecycle. The event encompassed a panel discussion featuring an all-star group of marketing innovators, moderated by Canopy Labs’ co-founder and CEO Wojciech Gryc. Panelists included James Connell – Vice President eCommerce & Marketing at Roots, Rob Lamb – Managing Director at the Canadian Opera Company, and Larysa Rodriguez – Director, Strategy and Channel Management, Global Targeted Marketing at Scotiabank.Read More
When Facebook announced it was overcounting clicks and conversions on its video carousal ads, this wasn’t the first time this sort of issue had been announced. These sorts of errors and bugs occur across all advertising platforms. Worse still, data collection across advertising tools varies in quality and type of data, which leads to further reporting challenges.
Over the last few weeks, Canopy Labs has interviewed a number of attribution experts to understand how they deal with the challenges of incorrect data, bias in ad networks, and discrepancies in reporting. This is a big problem: many advertising budgets are higher than marketing budgets. Without knowing which channels actually drive acquisition, conversions, and customer growth, it’s impossible to drive the right marketing mix… You can’t make the right decisions with the wrong data.Read More
Canopy Labs has now worked with over 400 companies that are interested in optimizing their customer journeys. During our five years working in this space, we have seen numerous varieties of skill sets, data sets, and capabilities.
The Status Quo
In a business environment where the only constant is change, whether it be from consumers or providers, companies need to be able to pinpoint problems with their customer experience and position accordingly. Yes, there are a plethora of tools and resources out there that help businesses improve aspects of their customer experience; however, the tricky part is selecting these tools wisely. One common challenge is maintaining a narrow and focused scope of action that fits your company’s strategic needs. To overcome this challenge, you first need to assess and understand your company’s position on the CX spectrum, similar to a data-based SWOT analysis. You can then leverage your knowledge of your customer experience maturity to correctly approach improving the customer journey for current and prospective customers.Read More
Companies are investing heavily in customer data hubs and integration strategies to build a full, 360-degree view of every customer. At the same time, marketing clouds are becoming more connected, enabling marketers to orchestrate their customers’ experiences in one place, across all channels.
However, as marketers work to map more complex and in-depth customer journeys, they tend to discover a scaling issue with these approaches: the more experiences, sub-segments, and models you optimize for, the more complex the entire orchestration process becomes. Ironically, this can lead to more manual work, where marketers need to create new content and copy, and manually run more campaigns. What marketers need is a solution that can automate the thousands of decisions around a customer’s journey, the experience they should be exposed to, and the content that enables this experience.Read More
Many businesses across a number of industries are attempting to use the data that customers leave behind when they interact with the company, be it online, in-store or both. Even though harnessing this data can provide several organizational benefits, many companies still have not gone beyond collecting and storing their data. It isn’t easy to deal with unstructured data but the benefits are rewarding if you do.
Predictive analytics, a method of applying a predictive model to data, learning from the experience of your organization to start predicting future events, like customer actions, is powerful. Aside from optimizing marketing campaigns, predictive analytics can also help to improve your organizational effectiveness and drive successful business outcomes. Here are five ways you’ll benefit from predictive analytics.Read More
Picture the last time you visited a museum, whether in your city or on a recent vacation. You probably went online to check opening hours, exhibitions, and ticket prices. You arrive at the museum, wait in line to purchase your tickets, spend a few hours viewing the collection, and stop by the museum store on your way out. You might find there’s so much left to see, you join as a member so you can come back again soon.Read More
Consumer-facing companies often face the struggle of not knowing enough about certain types of customers. While your most loyal customers will have lots of purchases, e-mail activity, and other data to inform your marketing team, this probably isn’t the case for a majority of your customers, particularly the ones that only have one or two transactions with you. These “middle ground” customers are usually missing just one or two data points to inform your segmentations or broader marketing strategy.
One way we encourage companies to better understand their “middle ground” customers is through segmenting them based on one-question survey e-mails. The goal is to e-mail your customers with one question that identifies their needs and interests, without asking for too much engagement on their end. Armed with this info, your marketing team will have valuable insights on how best to entice them with offers and content later.Read More
In our last blog post, we touted the benefits and popularity of one-click email surveys, particularly compared to traditional tools like Google Forms and SurveyMonkey. But how do these surveys perform in terms of engagement?
Online surveys typically suffer from low response rates (and even lower completion rates, especially if a survey takes more than a few minutes to complete). A University of Florida study found that online surveys are 11% less effective than mail/phone surveys, and response rates of 2% are not uncommon. The advantage, of course, is that online surveys cost very little to run, and give easy access to tens of thousands of respondents.Read More