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10 terrific traits of successful digital companies 2

Posted on February 12, 2017 by Rob Petersen

successful digital companies

Successful digital companies are organizations that use technology as a competitive advantage in its internal and external operations.

Many definitions abound but, in a nutshell, this is what makes them successful. Like any major achievement, success doesn’t occur unless the transformation changes the company culture as much as is does the company.

In this article, we study common characteristics. Here are 10 terrific traits of successful digital companies with examples.

  1. ARE UNREASONABLY ASPIRATIONS: Being “unreasonable” is a way to jar an organization into seeing digital as a business that creates value, not as a channel that drives activities. However the vision is described, if you aren’t making the majority of your company feel nervous, you probably aren’t aiming high enough. Burberry, in 2006, was a stalled business whose brand had become tarnished. A series of groundbreaking initiatives, including a website (ArtoftheTrench.Burberry.com) that featured customers as models, more robust e-commerce catalog that matched the company’s in-store inventory, and the digitization of retail stores through features such as radio-frequency identification tags leaped frog Burberry over competitors and tripled revenues.
  2. ARE CUSTOMER OBSESSED: Knowing what the customer wants has always been the key to successful digital companies. Advances in technology and data science make it possible to analyze the complete history of customer transactions and identify individual shopping habits, patterns and motives that drive behavior. 86% of consumers say they were willing to pay more for a better customer experience. And 89% begin doing business with a competitor following a poor customer experience. This mind-set is what enables companies to go beyond what’s normal and into the extraordinary. If online retailer Zappos is out of stock on a product, it will help you find the item from a competitor. While it might seem heretical to buy from competitors, it’s worth it for Zappos because 75% of its orders come from repeat customers.
  3. KNOW CUSTOMER LIFETIME VALUE (CLV): It is 6-7 times more expensive to acquire a new customer than it is to keep a current one. Successful digital companies recognize that, while customer acquisition is always important, there is often more to be gained be exploring ways to increase the Customer Lifetime Value (CLV) of current customers. According to a 2013 study by the Consumer Intelligence Research Partners, Amazon Prime members spend $1,340 annually. And that was 3 year ago. More important, Consumer Intelligence Research Partners estimates that Amazon Kindle owners spend approximately $1,233 per year buying stuff from Amazon, compared to $790 per year for other customers.
  4. ARE SOCIAL MEDIA ADEPT: If your company is customer obsessed, then you’re constantly listening to what your customers have to say about your brand, your competitor and your industry. Successful digital companies not only listen, they are adept at doing something with this data. McDonald’s decision to serve All Day Breakfast may have been a surprise to some customers, but shows how the massive company is trying to move nimbly and take some risks with its messaging. “Customers were saying to us ‘Hey, McDonald’s, this is the next big thing. This is what we want from you,'” said McDonald’s USA Chief Marketing Officer Deborah Wahl. With help from Twitter and Sprinklr, McDonald’s found 334,000 tweets mentioning All Day Breakfast at McDonald’s and found the most “engageable” accounts to send customized messages.
  5. ARE QUICK AND DATA-DRIVEN: Rapid decision making that is data-driven is critical in a dynamic digital environment. A cycle of continuous delivery, experimentation and improvement, adopting methods such as agile development and “live beta,” supported by big data analytics, are characteristics of successful digital companies. U.S. Xpress, a US transportation company, collects data in real time from tens of thousands of sources, including in-vehicle sensors and geospatial systems. Using Apache Hadoop, an open-source tool set for data analysis, and real-time business-intelligence tools, U.S. Xpress has been able to extract game-changing insights about its fleet operations. Data on the fuel consumption of idling vehicles led to changes that saved $20 million in fuel consumption in a year.
  6. PREPARE THEIR INFRASTRUCTURE: To take advantage of all that a digital world has to offer, successful digital companies have to be willing to invest in digital-ready infrastructures that will accelerate their digital strategies and the digital experiences of their customers, employees or citizens. As part of its three-year IT overhaul following a brush with bankruptcy, General Motors closed 23 of its data centers worldwide and moved most of that capacity into two new data center in Michigan. Reducing the distance for data to travel was a huge financial motivator for the company to not only saves on networking costs but improved responsiveness. New data centers are ‘private-cloud-meets-mainframe’ operations that run cloud-ready apps.
  7. KNOW THEIR METRICS: Metrics are a proxy for what matters most to senior management. But the measurements of success varies widely between marketing, tech management, and business unit leaders. This can creates conflict and confusion unless your company is clear about outcomes being measured. P&G created a single analytics portal, called the Decision Cockpit, which provides up-to-date sales data across brands, products, and regions to more than 50,000 employees globally. The portal, which emphasizes projections over historical data, lets teams quickly identify issues, such as declining market share, and take steps to address the problems in measurement the company considers critical to success.
  8. OPERATE IN A DIGITAL ECOSYSTEM: A digital ecosystem is the detailed visual of how all digital and social assets of a brand interconnect and interact. When managing multiple platforms, it’s important to understand how they will all work together to achieve the brand’s goal. Starbucks offers the largest and most robust mobile ecosystem of any retailer in the world, with more than 12 million Starbucks Rewards™ members (up 18% year on year), 8,000,000 mobile paying customers with one out of three now using Mobile Order & Pay, and more than $6 billion loaded onto prepaid Starbucks Cards in North America during the past year alone. Starbucks digital flywheel has also continued to gain momentum with the launch of true one-to-one personalization.
  9. PUT THE RIGHT LEADERS IN PLACE: The fast-moving digital world is exposing gaps in digital leadership, especially with regard to front office disciplines (those related to the customer experience) and head-office disciplines (those related to enterprise strategy). According to Gartner, three types of digital business leader have emerged to fill these leadership gaps: 1) Digital strategist, 2) digital marketing leader and 3) digital business unit leader. “A lot of our digital talent is home grown – mavericks who have their own businesses and have adapted their business in entrepreneurial ways. It is important to find these people and leverage their skills,” says David Crowley, Chief Commercial Officer, British Airways.
  10. SHOW ME THE MONEY: Many organizations focus their digital investments on customer-facing solutions. But they can extract just as much value, if not more, from investing in back-office functions that drive operational efficiencies. Successful digital companies know the value of reducing the costs of doing business. One-third of the digital innovation projects at Starbuck are devoted to improving efficiency and productivity away from the retail stores, and one-third focused on improving resilience and security. In manufacturing, P&G collaborated with the Los Alamos National Laboratory to create statistical methods to streamline processes and increase uptime at its factories, saving more than $1 billion a year.

Are these traits you associate with successful digital companies? Any there others you would add? Is your company interested in developing the capabilities of successful digital companies?

10 most inspiring digital marketing stories of 2016 4

Posted on December 18, 2016 by Rob Petersen

Digital marketing is an umbrella term for the marketing of products or services using a digital strategy, technologies and tactics that include search, paid advertising, social media and many other properties.

But channels and technologies don’t do justice to the ways some brands are putting it all together.

Here are the 10 most inspiring digital marketing stories of 2016.

  1. ALWAYS: Girls’ confidence takes a nosedive once they hit puberty, Always’ commercial launched an efforts to  help teach confidence to girls and young women through a variety of means. They’ve partnered with TED to create a series of educational videos on confidence that are shared with teachers and students worldwide, and even created the Always Confidence Curriculum, which was unveiled at the Always #LikeAGirl Confidence Summit. Meanwhile, the company continues to push out short, inspiring message via the hashtag #LikeAGirl.
  2. AMERICAN EXPRESS: Open Forum is a collaborative website, on which American Express invites guest authors from a variety of sectors to share their business knowledge and wisdom.  The result of this digital marketing is a content-rich mega-site that’s popular with the search engines – all created without American Express needing to shell out cash to content contributors.
  3. DACIAS: A subsidiary of Renault is one of Europe’s fastest growing car brands. Best known for their functional cars that offer amazing price-to-value ratios, the customer market grew by 60,000 cars in the last three years. By using Facebook’s boosted posts, Dacia placed ads related to their Sandero, Logan, and Stepway models. They focused on both desktop and mobile users. By incorporating data from past activity, the company ensured that a wide variety of ad testing was done, essentially optimizing the advertisement’s impact based on where their customers were in the buying cycle.
  4. DALLAS PETS ALIVE: Renamed shelter dogs after the most searched and trending topics to increase their chances of adoption — with pooches being named everything from Obamacare to Kim Kardashian’s Butt. The push was promoted by a funny online film and a Paid Search campaign. The digital marketing campaign grew traffic to its website by 98% and increased adoptions year-on-year by 200%.
  5. DOMINO’S: Really wants to make it easy to order pizza. The company let customers request delivery of their favorite pizza by tweeting to the @Dominos Twitter account, or by using the hashtag #EasyOrder. The tweet-based order system earned Domino’s media coverage from the likes of USA Today, Forbes, and Good Morning America, not to mention a Titanium Grand Prix award at Cannes. More than 50 percent of Domino’s orders come from digital marketing channels today.
  6. GIRL SCOUTS: Noticed that a lot of customers had issues with finding their nearest Girl Scout Representative when Cookie Season was in full swing. They wanted to drive cookie booth searches on their official website and also boost the number of downloads for their Girl Scout Cookie Finder mobile app. This would not only benefit the organization but also, be a massive help to consumers looking to buy cookies. @GirlScouts used an App Card (showcasing their delicious products) in a Twitter App Install campaign, which easily and conveniently allowed users to download and open the Girl Scout Cookie Finder app from their Twitter account. The result was 19,500+ Twitter-driven app installations.
  7. KRYLON: A spray-paint company, sent “DIY experts” to buy 127 “worthless” items along the route and transform them into something desirable, according to the company. After the yard sale ended, Krylon listed all of its transformed items for sale online, becoming the first brand to use Pinterest’s buyable pin feature. All of the proceeds (roughly $2,000) went to charity.As a result, Krylon’s Pinterest following increased by 4,400 percent, and the company estimates it gained $2.7 million in earned media on a $200,000 budget
  8. PWC: Has managed Oscar balloting for 82 years. For the 2016 awards ceremony, the company sought “to create a modern and savvy campaign” aimed at millennials by using Snapchat “to generate buzz internally and increase external visibility around the firm’s involvement with the Academy Awards,” according to the company. In its first two weeks, PwC’s Snap Story on Snapchat jumped to over 700 views. Within three weeks, the campaign received 1,062 related tweets on Twitter and 406 Instagram mentions.
  9. SPOTIFY: Created a very clever personalized video in December of 2015. They called it ‘A Year in Music, what did your 2015 sound like?’. This message was posted across the companies social channels, along with a generic video supporting that message. It then encouraged users to login to listen and watch their personal video, which was comprised of the users most played and favorite sounds of the year. The benefits for Spotify were that this built elements of customer loyalty, making users feel a little bit special – and it also made a lot of their users login when they may not have planned to previously.
  10. THE WIRECUTTER: Affiliate marketing can be a bit sleazy, but it can generate big results when done properly and genuinely. The Wirecutter has set the standard since its launch just five years ago. Labeling itself a simple “list of the best gadgets—like cameras and TVs—for people who don’t want to take a lot of time figuring out what to get,” the site generated $150 million in e-commerce transactions in 2015.

Do these make your list of best digital marketing stories this year? Are there any others you would add to the list? Do they inspire you to create a digital marketing story for your brand next year?

11 inspiring case studies of digital transformation 0

Posted on November 27, 2016 by Rob Petersen

digital transformation

  • 88% of companies report they are undergoing digital transformation (source: Altimeter Group)
  • 85% of enterprise decision makers say they have a time frame of two years to make significant inroads into digital transformation or they will suffer financially and fall behind their competitors (source: PWC)
  • 25% of companies have a clear understanding of new and underperforming digital touchpoints (source: Altimeter Group)

In other words, many companies report they are undergoing digital transformation even though most don’t know how to go about it.

Digital transformation is profound change in business activities, processes, competencies and models to fully leverage customers at every touchpoint in the customer experience.

Successful digital transformation achieve these results:

  • CUSTOMER: Harness customer networks and reinvent the path to purchase in line with their real behaviors
  • COMPETITION: Rethink the competition and build platforms that deliver competitive advantage
  • DATA: Turn data into assets that prove results in real time
  • INNOVATION: Innovate by rapid experimentation
  • VALUE: Judge change by how digital transformation helps create the next business

Since digital transformation doesn’t happen overnight, it also doesn’t hurt to show short term wins along the way.

Need some examples? Here are 11 inspiring case studies of digital transformation.

  1. AMAZON BUSINESS: Served as an example of ‘digital customer’ expectations transitioning to the B2B world. Features include: free two-day shipping on orders of $49 or more, exclusive price discounts, hundreds of millions of products, purchasing system integration, tax-exempt purchasing for qualified customers, shared payment methods, order approval workflows, and enhanced order reporting among others. Amazon Business launched in April 2015, with over 250 million products and a more holistic marketplace for B2B companies.
  2. AUDI: Changed the way in which companies sell vehicles, with the introduction of an innovative showroom concept launched in 2012 named Audi City. Audi City provided a unique brand experience and allows visitors to explore the entire catalogue of Audi’s model range hands-on in stores located in city centers, where large showrooms are not a possibility. At Audi City London sales went up 60% from the traditional Audi showroom that previously occupied the site. Moreover, they only stock four cars, reducing the cost of having to hold a large volume of stock that often does not match a customer’s criteria.
  3. FORD: Was structured, in early 2006, as a loose confederacy of regional business centers and IT silos. From 2006 on, they moved forward with clear goals: simplifying the company’s product line, focusing in on quantitative data and quality vehicles, and unifying the company as a whole. On the IT front, Ford slashed the budget by a massive 30 percent. Their goal, however, was not to reduce expenses, but to take resources that were tied up in maintaining fragmented and complex legacy systems and free them for use in expansion and innovation. It was all of these measures together that gave Ford the agility and capital to invest in ground-breaking projects such as the much-lauded Ford SYNC and MyFord Touch.
  4. GENERAL ELECTRIC: GE’s Digital Wind Farm is an adaptable wind energy ecosystem that pairs turbines with the digital infrastructure for the wind energy industry. GE’s previous solution, Wind PowerUp technology, had already been installed in 4,000 units, and improved turbine efficiency by up to 5%, which translates to up to a 20% improvement in profitability for each turbine; the new Digital Windfarm technology promised 20% efficiency improvements, which could help generate up to an estimated $50 billion of value for the energy industry.
  5. GLASSDOOR: Covered more than 450,000+ companies in over 190 countries and territories. More than 3,000 companies pay to use the company’s branding and recruiting tools (55,000+ free employer accounts). Glassdoor used its data for labor market research in the US; a portfolio of Fortune’s “Best Companies to Work For” companies outperformed the S&P 500 by 84.2%, while a similar portfolio of Glassdoor’s “Best Places to Work” outperformed the overall market by 115.6%.
  6. LEGO: After a period of expansion (1970-1991) LEGO suffered a steady decline (1992-2004) and by 2004 LEGO was close to bankruptcy. Reaching a tipping point, LEGO started restructuring and digital transformation focused on new revenue sources coming from movies, mobile games and mobile applications. LEGO achieved an EBITDA margin of 37.1% in 2014, an increase of 15% since 2007. In 2014, the first LEGO movie achieved revenues of approximately $468 million with a production budget of only $60 million.
  7. MCCORMICK & COMPANY: Launched FlavorPrint, an online flavor recommendation tool that visually represents consumer’s tastes. Consumers start with a 20 question quiz about eating habits and food likes and dislikes. FlavorPrint takes this data and generates personalized suggestions about recipes using algorithms. It has been dubbed “the Netflix for food” for its ability to suggest recipes based on individual’s tastes. FlavorPrint has been such a success that McCormick spun off into its own technology company called Vivanda
  8. MCDONALD’S: Recognized a massive shift in consumer behavior. For example, in 2015, McDonald’s began installing kiosks where customers can quickly customize their hamburgers. One of their more recent undertakings was for the 2015 Super Bowl football championship. McDonald’s used social media to give away products related to the commercials they aired throughout the game. It was important for McDonald’s to have the ability to respond immediately to consumers and actively monitor social media trends in real time. The effort was a success and drew over 1.2 million retweets including high-profile celebrities such as Taylor Swift.
  9. NETSPRESSO: Had the desire with its digital transformation to win new customers, gain a deeper understanding of its customers, and manage complex buying processes. But it was guided by the company’s clear goal: To provide customer’s with the perfect coffee experience. Netspresso’s initiatives are supported by a modern customer engagement solution based in the cloud, complete with network capability. Its cloud solution serves as an innovation platform with a full-fledged sales solution capable of handling the entire buying cycle: pricing, quotes, and orders. Nespresso’s digital initiatives have proven fruitful. Benefits include greater penetration into new markets, higher sales and user adoption, better sales productivity, and better visibility across the entire engagement cycle.
  10. STARBUCKS: COO Kevin Johnson perhaps sums it up best: “Where others are attempting to build a mobile app, Starbucks has built an end-to-end consumer platform anchored around loyalty.” The company’s main innovation is their Mobile Order and Pay app. This is fundamentally a customer-first strategy, as it addresses the basic wants of the consumer: convenience, line avoidance, and so forth. Coupled with their extensive loyalty program, the app gives Starbucks the perfect venue to up-sell and market to consumers. Furthermore, the app funnels back massive amounts of user data to the company, allowing them to better understand their customers’ habits and desires.
  11. UNDER ARMOUR: Wanted to become much more than an athletic apparel company when they introduced “connected fitness”— a platform to track, analyze and share personal health data right to customers’ phones. This new application provides a stream of information to UA that enables them to immediately identify fitness and health trends. For example, Under Armour, which is based in Baltimore, was able to immediately recognize a walking trend that started in Australia. This allowed them to deploy localized marketing and distribution efforts way before their competitors knew what was happening.

Does this help explain digital transformation to you? Do these case studies relate to your business? Does your business need help with a digital transformation roadmap?

8 bad marketing automation practices to stop doing now 0

Posted on August 28, 2016 by Rob Petersen

marketing automation

  • 49% of companies use marketing automation.
  • 55% of B2B companies use it (emailmonday)

Marketing automation refers to software automating marketing actions. It’s used to automate repetitive tasks such as emails, social media, and other website actions. It’s a case where technology makes tasks easier.

But does easier make it better? Although the numbers say half of companies use marketing automation, do they use it well or badly?

How to tell? Here are 8 very bad marketing automation practices.

All of these, unfortunately, have happened to me. Have they happened do you?

1. LAUNCH RIGHT INTO THE HARD SELL: On the internet, it’s hard to make yourself approachable. How to do it is provide thoughtful content your audience values without asking for anything; rather, you explore common interests until your prospect is ready to buy. This is called social selling. Yes. It takes time. But it delivers a prospect who feels they know you and is more ready to take action. Here’s what not to do.

marketing automation

2. BRAG BEFORE KNOWING YOUR AUDIENCE: The best thing to do when sending a message to someone who doesn’t know you is show you understand them. The worst thing is brag about yourself. Here’s a good example of the latter.

ma_1-resized-600

 

3. BELIEVE CLEVERNESS COVERS UP YOU’RE A PEST: More is not better with marketing automation. If someone hasn’t taken any action, they’re either not interested or not ready. A very bad idea is bugging somebody like this:

marketing automation #3

4. USE GENERIC SUBJECT LINES: Your first chance, and probably only, to make a good impression is the subject line or headline of your content. Here is a sampling of subject lines from emails I’ve recently received: “It’s finally here,” “I want you back,” “As per my last email,” “After checking your services,” “Am I still welcome here?” All have been generated by marketing automation. Why would anyone open any of these?

5. SET IT AND FORGET IT: Although marketing automation makes tasks easier, it can also make tasks much less compassionate. This is especially true in social media. Below is an automated Tweet from the journal American Rifleman, which is associated with the National Rifle Association. It was pre-set to forget. But it went out as details surrounding the tragic shooting at a movie theater in Aurora, CO were being released. The respond below the NRA Tweet was not set to forget.

marketing automation #5

marketing automation - nra

6. NOT ENABLING SOMEONE TO UNSUBSCRIBE: The CAN-SPAM Act is a law that establishes requirement for commercial messages, gives recipients the right to have you stop emailing them, and spells out penalties for violations. The law states:  “Once people have told you they don’t want to receive more messages, you must honor a recipient’s opt-out request within 10 business days.”

7. TURN A DRIP CAMPAIGN INTO A DOWNPOUR:  A Drip Campaign s a method used in direct marketing to acquire customers through repetitive marketing actions. It involves sending marketing information to prospects repeatedly over longer periods of time in order to nurture prospects or leads. After once opening an email generated by marketing automation, I received the response below in less than an hour. Obviously, something I won’t do again.

marketing automation #7

 

8. DON’T BE A SORE LOSER: To anyone who uses these bad marketing automation practices, my guess is you are not seeing any success. If you’ve ever written an email like this, you’ve come to the point where you have to seriously evaluate your use of marketing automation.

marketing automation #8

Do these examples of bad marketing automation practices help which what you should and shouldn’t do? Have any of these every happened to you?

50 facts about online consumer behavior not to ignore 2

Posted on August 21, 2016 by Rob Petersen

online consumer behavior

81% of consumers research online before buying. (GE Capital).

If the goal of marketing is to reach the consumer at moments that most influence their buying decision, then understanding online consumer behavior is key for any business.

Here are 50 facts about online consumer behavior not to ignore. They start from finding your audience, selling to them to, satisfying them and keeping them satisfied.

FINDING YOUR AUDIENCE

  1. 97% of consumers turn to a search engine when they are buying a product vs 15% who turn to social media. (Conductor)
  2. 96% of consumers have searched for product information from their mobile device. (Google)
  3. 95% of Millennials expect brands to have a Facebook presence. (Social Media Examiner)
  4. 94% of B2B buyers research online for purchase decisions. (State of Procurement Study)
  5. 89% of shoppers do online research before purchasing an item in-store. (Interbrand)
  6. 88% of consumers made their final purchase in store. (GE Capitol)
  7. 88% of consumer trust online reviews as much are personal recommendation. (Search Engine Land)
  8. 87% of Gen X’ers (30- to 44-year-olds) and  70% of those ages 45 to 60 think brands should, at the very least, have a Facebook page. (Social Media Examiner)
  9. 85% of all consumer purchases are made by women including everything from autos to health care. (Greenfield Online)
  10. 80% of consumer internet video traffic will come from video in 2019, compared to 64% in 2014. (Cisco)
  11. 79% of shoppers feel empowered by technology because it provides access to information. (GE Capitol)
  12. 28% of all online activity is spent on social networks. (Global Web Index)
  13. American Adults spend 5.5 hours a day viewing video content. (eMarketer)

SELLING  TO THEM

  1. 81% of customers reach out to friends and family members on social networking sites for advice before purchasing products. (Digital Buzz)
  2. Consumers spend an average of 79 days gathering information before making a major purchase. (GE Capitol)
  3. 77% of online shoppers use reviews to make a purchase decision. (Digital Buzz)
  4. 60% of consumers prefer to share their information about the products with others online. (Research Gate)
  5. 50% of shoppers have made a purchase based on the recommendation of the people they follow (and like) on social networks. (Digital Buzz)
  6. 50% use their smartphone to look up restaurants/bars, and 31% to research or book travel. (Google)
  7. 42% of shoppers spend over half their shopping time doing online research. (Interbrand)
  8. 38% of people buy online because of low prices. (RubyMarketer.com)
  9. 35% intentionally carry their smartphone while shopping so they can comparison shop. 32% said they had changed their mind about purchasing in-store based on information found online while shopping. (Google)
  10. 35% of American smartphone users have purchased through their mobile device, 68% of those within the last month.  However, 65% still prefer to purchase while on their computer. (Google)
  11. 33% of men and 38% of women don’t buy online because they want to touch the product before the buy it. (RubyMarketer.com)
  12. 5-20% is probability of selling to a new prospect. 60-70% is probability of selling to an existing customer. (Marketing Metrics)

SATISFYING THEM

  1. 89% of consumers have stopped doing business with a company after experiencing poor customer service. (RightNow Customer Experience Impact Report)
  2. 83% of consumers require some degree of customer support while making an online purchase. (eConsultancy)
  3. 76% of consumers believe the customer service they received shows how the company values them as a customer. (Aspect Consumer Experience Survey)
  4. When shopping online, 58% of women and 44% of men are concerned about the cost of shipping. (Three Deadly Venoms)
  5. 45% of US consumers will abandon an online transaction if their questions or concerns are not addressed quickly. (Forrester)
  6. 45% of companies offering web or mobile self-service reported an increase in site traffic and reduced phone inquiries. (CRM Magazine)
  7. It takes 12 positive customer experiences to make up for one negative experience. (Parature)

KEEPING THEM SATISFIED

  1. 80% of companies say they deliver “superior” customer service while only 8% of customers feel the same way (Lee Resources)
  2. 75% of consumers believe it takes too long to reach a customer service agent (Harris Interactive)
  3. 70% of buying experiences are based on how the customer feels they are being treated.  (McKinsey)
  4. 62% of online shopper are brand loyal. (Interbrand)
  5. 60% of consumers state their expectations for customer service are higher now than they were just one year ago. (Global State of Multi-channel Customer Service Report)
  6. 59% would try a new brand or company for a better service experience. (American Express)
  7. 55% of consumers would pay more for a better customer experience. (Salesforce)
  8. 50% of consumers believe customer service agents fail to answer their questions.
  9. 42% of service agents are unable to efficiently resolve customer issues due to disconnected systems, archaic user interfaces, and multiple applications. (Forrester)
  10. 33% of consumers would recommend a brand that provides a quick but ineffective response. (Nielsen-McKinsey)
  11. 19% think it’s very important that retailers have mobile friendly websites (GE Capitol)
  12. 17% of consumers would recommend a brand that provides a slow but effective solution. (Nielsen-McKinsey)
  13. 10% increase in customer retention levels result in a 30% increase in the value of the company. (Bain & Co)
  14. Americans tell an average of 9 people about good experiences and 16 about poor experiences (American Express)
  15. It is 6-7 times more costly to attract a new customer than it is to retain an existing customer.  (White House Office of Consumer Affairs)
  16. A customer is 4 times more likely to buy from a competitor if the problem is service related vs. price or product related. (Bain & Co.)
  17. Consumers are 2 times more likely to share their bad customer service experiences than they are to talk about positive experiences.  (2012 Global Customer Service Barometer)

Do these facts help you to better understand online consumer behavior? Do these cause you to think about your marketing? Does your business need help navigating online consumer behavior?

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