Tag Archives: customer information

Hospitality Execs: Invest in Great Customer Information to Support A Customer-Obsessed Culture

I love exploring new places. I’ve had exceptional experiences at the W in Hong Kong, El Dorado Royale in the Riviera Maya and Ventana Inn in Big Sur. I belong to almost every loyalty program under the sun, but not all hospitality companies are capitalizing on the potential of my customer information. Imagine if employees had access to it so they could personalize their interactions with me and send me marketing offers that appeal to my interests.

Do I have high expectations? Yes. But so do many travelers. This puts pressure on marketing and sales executives who want to compete to win. According to Deloitte’s report, “Hospitality 2015: Game changers or spectators?,” hospitality companies need to adapt to meet consumers’ increasing expectations to know their preferences and tastes and to customize packages that suit individual needs.

Jeff Klagenberg helps companies to use their data as a strategic asset

Jeff Klagenberg helps companies use data as a strategic asset and get the most value out of it.

In this interview, Jeff Klagenberg, senior principal at Myers-Holum, explains how one of the largest, most customer-focused companies in the hospitality industry is investing in better customer, product, and asset information. Why? To personalize customer interactions, bundle appealing promotion packages and personalize marketing offers across channels.

Q: What are the company’s goals?
A: The executive team at one of the world’s leading providers of family travel and leisure experiences is focused on achieving excellence in quality and guest services. They generate revenues from the sales of room nights at hotels, food and beverages, merchandise, admissions and vacation club properties. The executive team believes their future success depends on stronger execution based on better measurement and a better understanding of customers.

Q: What role does customer, product and asset information play in achieving these goals?
A: Without the highest quality business-critical data, how can employees continually improve customer interactions? How can they bundle appealing promotional packages or personalize marketing offers? How can they accurately measure the impact of sales and marketing efforts? The team recognized the powerful role of high quality information in their pursuit of excellence.

Q: What are they doing to improve the quality of this business-critical information?
A: To get the most value out of their data and deliver the highest quality information to business and analytical applications, they knew they needed to invest in an integrated information management infrastructure to support their data governance process. Now they use the Informatica Total Customer Relationship Solution, which combines data integration, data quality, and master data management (MDM). It pulls together fragmented customer information, product information, and asset information scattered across hundreds of applications in their global operations into one central, trusted location where it can be managed and shared with analytical and operational applications on an ongoing basis.

Many marketers overlook the importance of using high quality customer information in their personalization capabilities.

Many marketers overlook the importance of using high quality customer information in their investments in personalization.

Q: How will this impact marketing and sales?
A: With clean, consistent and connected customer information, product information, and asset information in the company’s applications, they are optimizing marketing, sales and customer service processes. They get limitless insights into who their customers are and their valuable relationships, including households, corporate hierarchies and influencer networks. They see which products and services customers have purchased in the past, their preferences and tastes. High quality information enables the marketing and sales team to personalize customer interactions across touch points, bundle appealing promotional packages, and personalize marketing offers across channels. They have a better understanding of which marketing, advertising and promotional programs work and which don’t.

Q: What is the role did the marketing and sales leaders play in this initiative?
A: The marketing leaders and sales leaders played a key role in getting this initiative off the ground. With an integrated information management infrastructure in place, they’ll benefit from better integration between business-critical master data about customers, products and assets and transaction data.

Q. How will this help them gain customer insights from “Big Data”?
A. We helped the business leaders understand that getting customer insights from “Big Data” such as weblogs, call logs, social and mobile data requires a strong backbone of integrated business-critical data. By investing in a data-centric approach, they future-proofed their business. They are ready to incorporate any type of data they will want to analyze, such as interaction data. A key realization was there is no such thing as “Small Data.” The future is about getting very bit of understanding out of every data source.

Q: What advice do you have for hospitality industry executives?
A: Ask yourself, “Which of our strategic initiatives can be achieved with inaccurate, inconsistent and disconnected information?” Most executives know that the business-critical data in their applications, used by employees across the globe, is not the highest quality. But they are shocked to learn how much this is costing the company. My advice is talk to IT about the current state of your customer, product and asset information. Find out if it is holding you back from achieving your strategic initiatives.

Also, many business executives are excited about the prospect of analyzing “Big Data” to gain revenue-generating insights about customers. But the business-critical data about customers, products and assets is often in terrible shape. To use an analogy: look at a wheat field and imagine the bread it will yield. But don’t forget if you don’t separate the grain from the chaff you’ll be disappointed with the outcome. If you are working on a Big Data initiative, don’t forget to invest in the integrated information management infrastructure required to give you the clean, consistent and connected information you need to achieve great things.

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Posted in Customer Acquisition & Retention, Customers, Data Integration, Data Quality, Enterprise Data Management, Master Data Management | Tagged , , , , , , , , , , , , , , , , , , , | Leave a comment

Citrix Boosts Lead Conversion Rates by 20% with Better Customer Information

“If you don’t like change, you’re going to like irrelevancy a lot less.” I saw this powerful Ralph Waldo Emerson quotation in an MDM Summit presentation by Dagmar Garcia, senior manager of marketing data management at Citrix.  In this interview, Dagmar explains how Citrix is achieving a measurable impact on marketing results by improving the quality of customer information and prospect information.

improving the quality of customer information at Citrix

To  improve marketing campaign effectiveness Dagmar Garcia delivers clean, consistent and connected customer information.

Q: What is Citrix’s mission?
A: Citrix is a $2.6 billion company. We help people work and collaborate from anywhere by easily accessing enterprise applications and data from any device. More than 250,000 organizations around the globe use our solutions and we have over 10,000 partners in 100 countries who resell Citrix solutions.  

Q: What are marketing’s goals?
A: We operate in a hyper-competitive market. It’s critical to retain and expand relationships with existing enterprise and SMB customers and attract new ones. The marketing team’s goals are to boost campaign effectiveness and lead-to-opportunity conversion rates, while improving operational efficiencies.

But, it’s difficult to create meaningful customer segments and target them with relevant cross-sell and up-sell offers if marketing lacks access to clean, consistent and connected customer information  and visibility into the total customer relationship across product lines.

Q: What is your role in achieving these goals?
A:
I’ve been responsible for global marketing data management at Citrix for six years. My role is to identify, implement and maintain technical and business data management processes.I work with marketing leadership, GEO-based team members, sales operations, and operational experts to understand requirements, develop solutions and communicate results. I strive to create innovative solutions to improve the quality of master data at Citrix, including the roll-out and successful adoption of data governance and stewardship practices within Marketing and across other departments.

Q: What drove the decision to tackle inaccurate, inconsistent and disconnected customer and prospect information?
A: In 2011, the quality of customer information and prospect information was identified as the #1 problem by our sales and marketing teams. Account and contact information was incomplete, inaccurate and duplicated in our CRM system.

Another challenge was fragmented and inconsistent master account information scattered across the organization’s multiple applications.  It was difficult to know which source had the most accurate and up-to-date customer and prospect information.

To be successful, we needed a single source of the truth, one system of reference where data management best practices were centralized and consistent. This was a requirement to understand the total customer relationship across product lines. We asked ourselves:

  1. How can we improve campaign effectiveness if more than 40% of the contacts in our customer relationship management system (CRM) are inactive?
  2. How can we create meaningful customer segments for targeted cross-sell and up-sell offers when we don’t have visibility into all the products they already have?
  3. How can we improve lead to opportunity conversion rates if we have incomplete prospect data?
  4. How can we improve operational efficiencies if we have double the duplicate customer and prospect information than the industry standard?
  5. How can we maintain high data quality standards in our global operations if we lack the data quality technology and processes needed to be successful?
Customer information

Citrix is investing in a marketing data management foundation to deliver better quality customer information to operational and analytical applications.

Q: How are you managing customer and prospect information now?
A: We built a marketing data management foundation. We centralized our data management and reduced manual, error-prone and time-consuming data quality efforts. To decrease the duplicate account and contact rate, we focused on managing the quality of our data as close to the source as possible by improving data validation at points of entry.

Q: What role does Informatica play?
A: We using master data management (MDM) to:

  • pull together fragmented customer, prospect and partner information scattered across applications into one central, trusted location where it can be mastered, managed and shared on an ongoing basis,
  • organize customer, prospect and partner information so we know how companies and people are related to each other, which hierarchies and networks they belong to, including their roles and organizations, and
  • syndicate clean, consistent and connected customer, partner and product information to applications, such as CRM and data warehouses for analytics.

Q: Why did you choose Informatica?
A
:  After completing a thorough analysis of our gaps, we knew the best solution was a combination of MDM technology and a data governance process. We wanted to empower the business to manage customer information, navigate multiple hierarchies, handle exceptions and make changes with a transparent process through an easy-to-use interface.

At the same time, we did extensive industry research and learned Informatica MDM was ranked as a visionary and thought leader in the master data management solution space and could support our data governance process.

Q: Can you share some of the results you’ve achieved?
A:
Now that marketing uses clean, consistent and connected customer and prospect information and an understanding of the total customer relationship, we’ve seen a positive impact on these key metrics:

↑ 20% lead-to-opportunity conversion rates
↑ 20% operational efficiency
↑ 50% quality data at point of entry
↓ 50% in prospect accounts duplication rate
↓ 50% in creation of duplicate prospect accounts and contacts
↓ 50% in junk data rate

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Posted in Customer Acquisition & Retention, Data Governance, Master Data Management | Tagged , , , , , , , , | Leave a comment

How Retailers Can Use MDM To Better Serve The Multichannel Customer

Retailers have long recognized the value of a single customer view, but the emergence of multichannel research and shopping has made achieving that ideal more difficult. Today’s consumers hopscotch across online, in-store, call center, social media, mobile, and other channels—how can retailers keep up?

Acquire & Retain Customers with Trusted & Complete Customer Data

If you have a single view of your retail customer, you can assess channel buying preferences and tailor marketing accordingly. You can deliver the personalized and consistent experience that discriminating consumers expect across all touchpoints. And you can take advantage of the unique cross-sell and up-sell opportunities that multichannel environments offer.

For instance, if Jane buys a $2,000 leather couch in a store and you can match her information to the email address she registered three months earlier at your Web site, you’re in a great position to pitch matching pillows with a personalized email.

But, as outlined in a new Informatica executive brief, siloed data systems for point of sale (POS), e-commerce, call centers, and more make it difficult for retailers to achieve a single customer view. The brief includes survey results from a leading research organization, including the following statistics:

  • 92 percent of retailers don’t integrate customer data from all channels
  • 68 percent of companies cite improving customer data integration as a top priority for 2010
  • Less than 25 percent of retailers extend personalized loyalty programs across all channels

(more…)

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Posted in Business/IT Collaboration, CIO, Customer Acquisition & Retention, Data Quality, Enterprise Data Management, Master Data Management, Operational Efficiency, Vertical | Tagged , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment