Customer Engagement

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Sponsor's Content | The New Era of Personalization: Why CPG Brands Must Own the Direct-to-Consumer Experience

  • MIT SMR Connections | Executive Scholar Exchange

As consumers gain more choices in how they buy products and interact with brands, consumer packaged goods companies can no longer rely on retailers for sales customer feedback. Instead, brands must take a direct-to-consumer approach across the life span of the customer relationship.

Five AI Solutions Transforming B2B Marketing

  • Blog
  • Read Time: 8 min 

B2B Marketing departments never have enough time, manpower, or money. AI solutions such as automated emails and predictive analytics can help companies push back against these constraints. AI marketing products can act as a force multiplier. Imagine filling your headquarters with thousands of brilliant marketers, expertly analyzing data and providing actionable insights that increase the productivity of your existing marketing team.

What Would Happen if Baseball Outlawed the Shift?

Baseball teams routinely use analytics to shift fielders’ positions so they can be placed where a hitter is most likely to hit the ball. This works well for preventing the opposing team from hitting and scoring — but it’s not so great for the game, which relies on base hits and scored runs to keep fans excited and engaged. Should “shifting” be banned for the sake of the fans?

How Customer Obsession Creates Accountability for Change

  • Blog
  • Read Time: 7 min 

Organizational change is difficult. Some 70% of change efforts fail, and awareness hasn’t improved the odds of success. But there are exceptional companies, making strides with everything from digital transformation to employee engagement to diversity and inclusion. And they have one thing in common: They are customer-obsessed. When customers are truly at the center of your business, change proceeds from one organizing principle: What’s best for them?

How Should Companies Talk to Customers Online?

Digital customer service is becoming more widely adopted, but one place it falls short is in the language and phrases it uses. Many digital service platforms use words that alienate customers rather than engage them; selecting customer-centric language for chatbots and service platforms can make a significant difference in customer satisfaction.

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Let Your Digital Strategy Emerge

  • Blog
  • Read Time: 7 min 

What can digital technologies do to help an organization solve customer problems? And what solutions will customers find valuable? It’s only when leaders wrestle with these questions that a digital strategy can emerge. To get there, organizations need to create a portfolio of business experiments and engage with customers to gain insight into their problems and potential solutions. The intersection between what’s possible and what’s desired is where a business will succeed.

Why Companies Need a New Playbook to Succeed in the Digital Age

  • Blog
  • Read Time: 4 min 

In the digital world, companies need to become a destination for customers. The key is using digital as differentiation and offering customers something compelling. This requires a new playbook for how to do business as well as new ways of engaging customers. The trend is for individual and business customers to prefer just one or two powerful ecosystems in each industry, raising the stakes for leaders to better understand their options and clarify their own game plans.

Pass the Word: Peer Influence Has Big Impact on Online Market Dynamics

  • Blog
  • Read Time: 4 min 

A study of cryptocurrency markets provides some new insight into why people make the choices they do online. Crypto-currency traders used bots that executed over 100,000 small trades in 217 cryptocurrencies over the course of six months. Analysis reveals that traders are very susceptible to peer influences. The design of the online exchanges also appears to contribute to activity if functionality, graphical user interfaces, or application programming interfaces promote collective excitement.

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Using Analytics to Improve Customer Engagement

The 2018 Data & Analytics Global Executive Study and Research Report by MIT Sloan Management Review finds that innovative, analytically mature organizations make use of data from multiple sources: customers, vendors, regulators, and even competitors. The report, based on MIT SMR’s eighth annual data and analytics global survey of over 1,900 business executives, managers, and analytics professionals, explores companies leading the way with analytics and customer engagement.

The Power of Product Recommendation Networks

Much as relationships in social networks have been analyzed to understand and influence how ideas flow among people, researchers wondered whether it might be possible to use the structure of product recommendation networks online to understand or influence how demand flows among products. The short answer is yes, and the implications for marketers are important.

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Customizing Your Social Strategy to the Platform

  • Opinion & Analysis
  • Read Time: 2 min 

Companies that want to draw innovation ideas from social media need customized approaches. An approach that works on Facebook, for example, is different from one that works on LinkedIn. Companies also should emphasize the “social” by helping users create or enhance relationships. Companies that do this often benefit through people’s subsequent engagement with the company’s online innovation activities.

Turning Content Viewers Into Subscribers

Content websites can more readily convert site visitors into paying customers by prompting visitors to gradually increase their social engagement with the site — using a concept the authors call the “ladder of participation.” This means thinking strategically about using site engagement to improve conversion. It also means taking an active role in encouraging users to climb the ladder of participation and move quickly up its rungs.

When Customers Become Fans

Beijing-based smartphone maker Xiaomi Inc. has actively involved enthusiastic customers — known as “Mi Fans” — in both software and hardware development processes. Tech-savvy users test interfaces and products as volunteers, doing much of their communication on the Internet. Customer involvement in the product development life cycle has not only helped Xiaomi reduce R&D costs but also enabled the company to cultivate a sense of participation and pride among lead users.

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