Author: Franz Malten Buemann

  • Essential Search Marketing Software’s that One Should Know About

    submitted by /u/GTOGlobaltechoutlook [link] [comments]

  • Why You Need to Map the Customer’s Ecosystem

    The customer sits at the center of their own ecosystem of providers. You need to map their ecosystem to identify the best service experience opportunities. Most companies only look at their interactions with the customer, sometimes called “”company pathways””. They use this understanding to improve the interactions in the pathway from their own perspective. They think that is how the customer sees things. But that isn’t how the customer sees things at all. In addition to the interactions with the company, the customer interacts with many other actors to get the resources they need to get their jobs done. The customer looks at all the interactions in their journey and the different actors involved; at the ecosystem. This is a very different perspective. Full article: https://www.mycustomer.com/customer-experience/engagement/why-you-need-to-map-the-customers-ecosystem
    submitted by /u/vesuvitas [link] [comments]

  • Metaverse: the new CX universe

    We all know a company’s brand is about so much more than what is on the website. In reality, it’s about how customers experience the company within every interaction, both online and offline. While most of us are thinking of interactions in the world we see today, due to emerging technologies, a whole other universe…
    The post Metaverse: the new CX universe appeared first on Customer Experience Magazine.

  • What Is an Enterprise Data Model? [+ Examples]

    Enterprise data modeling is nothing new. This tactic has been around for years, but it is still relevant to modern businesses today.
    It can feel like an abstract, complex concept at times, but it is an important part of data governance, which helps manage and secure a company’s data assets.
    In today’s world, data security is important, as is boosting productivity and efficiency with up-to-date applications and digital processes.
    Enterprise data modeling can help ensure company apps and data are standardized, secure and in-line with the business mission.

    What is an Enterprise Data Model?
    Simply put, an enterprise data model is a visual representation, or graph, of an enterprise business’ data. It focuses on high-level, more abstract components as it tries to define and standardize an entire enterprise business’ data.
    That means enterprise data modeling can be a massive task, but it will be important to help reduce duplicates, inaccuracies, and errors in a business’ data.
    Why Do You Need an Enterprise Data Model?
    There are numerous reasons why you might need an enterprise data model. Let’s dive into four, now. 
    1. Improve Data Quality
    Even small companies handle a lot of data on a daily basis. Over time, this data can quickly become irrelevant. Errors can slip in unnoticed, as can redundancies. The more issues in the data, the less accurate it becomes. When companies revisit data to inform decisions, data riddled with errors and redundancies can impact company sales and growth. By taking an overarching, comprehensive look at the data and defining it via enterprise data modeling, these issues can be addressed appropriately.
    2. Defining All Data
    Enterprise data modeling is a massive task, but that’s because it addresses all of an enterprise business’ data. A company can clean up data and align applications, so everything is cohesive and running smoothly, with an enterprise data model.
    3. Managing Data
    Similarly, managing data is easier when it is all addressed and defined in one graph. The enterprise data model will be more high-level, so deeper dives and more intensive data modeling will be needed to define the specifics. But overall, a company can better manage all the data assets it has when they are all placed in one data model.
    4. Data Governance
    Businesses rely heavily on technology, as do consumers. The more we move online, the more regulations that need to be in place to maintain privacy and security. Businesses that do not protect consumer data will find themselves in hot water. An enterprise data model can help identify a business’ data, better manage it, and ensure the business is complying with data and privacy laws.
    Benefits of an Enterprise Data Model
    The benefits of an enterprise data model are similar to the reasons a business needs it.
    First, if a company wants to ensure high-quality data, it must remove redundancies and errors, and also apply any business-specific rules regarding the data. This can all be done through the extensive enterprise data modeling process.
    An enterprise data model can also help a business be more cohesive and standardized in its processes by aligning the various applications and technologies the company uses daily.
    Finally, a huge benefit to enterprise data modeling is its ability to help a business align its data with data governance. For example, GDPR, or General Data Protection Regulation, addresses how companies use customer data and gives more privacy and data control to the consumer.
    When this regulation was implemented, companies needed to ensure that they were properly handling data. This regulation is still in effect, so newer businesses also must comply. Not complying with government data policies can lead to legal implications, which is what makes an enterprise data model so invaluable.
    How to Create an Enterprise Data Model
    The enterprise data model consists of a few smaller models. Starting with the enterprise subject area model, you’ll move through each of the following steps to create the enterprise data model.
    1. Enterprise Subject Area Model
    The ESAM is a high-level model that defines the main subject areas of a business as well as the relationships among these subject areas. For example, this could include Accounts, IT, Billing, Finance, Sales.
    2. Enterprise Conceptual Model
    Next, each ESAM is broken down further into enterprise conceptual models, which consist of major business concepts and how these concepts are related.
    3. Enterprise Entity Model
    Finally, the enterprise entity model includes the main interests for each business concept and details their relationships with one another.
    Enterprise Data Model Example
    The enterprise data model can be visualized as a pyramid. The entire pyramid is the enterprise data model, which, let’s say, is a retail store with a brick-and-mortar location and an online shop.
    The top of the pyramid is the enterprise subject area model, with 10-20 business subjects defined. Those could include Stores, Staff, Warehouses, Products, Payments, and Customers, to name a few. Arrows would show how these subjects relate to one another.
    Below that, the middle of the pyramid is a slightly more fleshed out enterprise conceptual model, which defines eight-15 main business concepts per subject area model. For example, Products could be broken down by ID and type, or Payments could be broken down by credit cards, debit cards, and cash.
    Finally, the base of the pyramid is the enterprise entity model, which would identify the main areas of interest for each conceptual model.
    Enterprise Data Model Tools
    Now that you have a better understanding of enterprise data modeling, you might be ready to dive into this project. These data model tools will help make this process less taxing on your team.
    1. Lucidchart
    Teams can work together on Lucidchart to create collaborative diagrams and data models. It meets international privacy and security standards, making it a safe option.
    Drag-and-drop components allow team members to build data models with ease, and each person can select portions of the diagram and leave feedback comments. You can test it out for free, and prices range depending on business size.
    2. Erwin Data Modeler
    The Erwin Data Modeler is specifically tailored to visualizing and standardizing enterprise data assets.
    All data, whether from a data warehouse or in the cloud, can be handled in one interface, and automated models can help reduce redundancies and errors to improve data quality. Pricing varies by business needs, but you can explore this modeling tool with a free trial before committing.
    3. Diagrams.net
    Diagrams.net (formerly draw.io) is a free data modeling tool that allows you to make flowcharts and graphs for your enterprise data. Drag-and-drop features make it easy to place shapes, lines and arrows exactly where you’d like on the gridded, blank diagram.
    You can also draw free-hand shapes. Newly added in February 21, diagrams.net also offers data governance options, and you can store all data models on your enterprise-level storage platforms, like Dropbox or Google Drive.
    4. ER/Studio
    Ideal for enterprise businesses, ER/Studio handles company data with ease. This enterprise data modeling software allows for forward or reverse engineering, source and target mapping, naming standards and more. You can model data from various sources and define and enforce standards within this tool. This is a paid tool, and prices vary depending on needs; you can also request a demo.
    5. Ab Initio
    Another popular tool for enterprise businesses, Ab Initio incorporates self-service and automation into your data models to improve efficiency. Users can model and catalog data securely, complying with data governance. The tool will even generate automated operational data quality rules for data processing. Licensing rates vary.
    Improve Data Management With an Enterprise Data Model
    Sure, enterprise data models can be intimidating. But they are more important than ever in our data-driven world. Enterprise data modeling can help standardize data assets for a business and better manage and secure these assets.
    Most importantly, an enterprise data model can help a company avoid legal troubles by complying with data governance. By using one of many tools for data modeling, this arduous but crucial task can be made simpler and more collaborative.

  • Top 8 ways to improve your customer experience (CX) strategies

    Developing your customer experience (CX) could significantly affect your top and bottom lines. As a matter of fact, improving customer experience services produces a profit increment of $823 million, as per the Temkin Group. A CX investment by a firm can likewise lessen functional costs e.g., expense to serve, as per Harvard Business Review. Also, unsatisfied customers are costly, everybody knows that.
    submitted by /u/protopartners [link] [comments]

  • Marketing automation with Data analysis

    Hello, Have you tried to merge marketing automation and data analysis. Usage of data and data manipulation to create full customer experience. We are doing this on daily basis, But we are limited to predefined dashboards etc. Is there any tool with custom tracking and data storage, as well as data manipulation for customer journey? I am looking for something where i can use Python knowledge.
    submitted by /u/Sonny-Orkidea [link] [comments]

  • Fresh herbs

    Chain restaurants rarely use fresh herbs. They’re uneven, unreliable and expensive, and most diners have been conditioned to want food that’s more processed and bland.

    The same is true for most of what we buy and sell. It’s becoming ever more predictable, pre-processed and cost-reduced.

    The pressure tends to go in one direction–turn your work into a commodity, smooth over the edges and fit in all the way. That seems hard to argue with, particularly if you want to be popular and profitable.

    But the restaurant that makes the best sabich in all of New York City takes a different approach. At Nana, in an obscure shopping mall on the outskirts of an outer borough, they’re serving memorable food that doesn’t match the prevailing industrial model. You can’t get something similar from your grocer’s freezer. It’s distinctive and probably a lot more difficult to produce on a regular basis.

    The same could be true for what you choose to do. It might not get you a Fortune 500 company as a client, and probably won’t make you #1 on whatever bestseller list tracks the one that’s for everyone, but it might be exactly the work that you’re proud to do.

    Thanks, Gina, for caring. And for anyone who goes out of their way to add fresh herbs when they don’t have to.

  • Why Black People Are Top Consumers But Lack Wealth

    This article is part of a larger series that focuses on diversity and equity in marketing. As a company, we are committed to identifying actions we can take in the fight against racism and injustice, and elevating BBIPOC voices is paramount to inspiring change. Follow along and read other posts in this series here.

    This post is authored by Anyssa Roberts, writer and journalist.
    For the last two years, I’ve witnessed dozens of families and individuals celebrate the most gratifying accomplishment of their lives—paying off their debt. 
    I was a marketing copywriter for Ramsey Solutions, an influential personal finance company in Tennessee. I created content that made sales while improving our audience’s lives. I even followed the financial principles myself and celebrated my own debt-freedom in 2020, as a single, Black woman with an immigrant background.
    Personal finance changed my life for the better and influenced the way I interact with marketing. That’s why it bothered me to read that Black people are most likely to consume products but are financially behind white and Latino counterparts, according to research. While most Americans report feeling as though they live paycheck to paycheck, minorities are most likely to face ongoing wealth gaps compared to their white peers. 
    In marketing, we, of course, want people to buy from us, but we also want our products and services to improve the lives of the people who use them. But where does this financial discrepancy lie in the Black community and how can we as marketers better support one of our largest consumer populations?
    Black Buying Power
    Black people are major consumers in the American economy and spend more than $1 trillion a year on goods and services.
    “At 47.8 million strong and a buying power that’s on par with many countries’ gross domestic products, African Americans continue to outpace spending nationally,” said Cheryl Grace, Nielsen’s Senior Vice President of Community Alliances and Consumer Engagement and co-creator of the DIS Report in 2019.  
    We dominate as consumers in the beauty and personal care categories—a multi-billion dollar industry—and make up 90 percent of the consumers in the ethnic hair care category. We’re also 20 percent more likely than the total population to say they will “pay extra for a product that is consistent with the image I want to convey,” according to Nielsen’s report.
    In short, our dollar matters. 
    It’s unfortunate, however, to see so many dollars exiting the Black community only to leave us beautiful and broke. 
    Why Black People Trail Their Peers Financially
    The average white family has eight times the wealth of the average Black family and five times the wealth of the typical Latino family, according to the Federal Reserve. 
    Let’s take a look at a couple of the reasons why Black people are behind when it comes to financial development and building wealth:
    Lack of Access to Resources and Financial Education
    Black people are more likely to face systemic financial challenges that limit their wealth-building ability. Some examples include having fewer financial resources, less access to employer-sponsored benefits and greater income volatility a TIAA study found. These challenges already limit financial advancement and are made worse by low financial literacy.
    Financial literacy isn’t high amongst American adults in general. But in a study, Black people answered 38 percent of financial literacy questions correctly, and only 28 percent answered more than half correctly.
    Low financial literacy also influences buying and investing habits. Black people have a tendency to get rid of assets too early or not acquire them at all, according to a TIAA research study. 
    These barriers hinder sound financial decision making as well as good financial management.
    Expensive Spending Habits
    The data shows that Black people like to shop, and there’s nothing wrong with that. However, too much reliance on consuming products and services rather than producing them can hurt us more than help.
    Nielsen reported that 52 percent of Black people find in-store shopping relaxing, compared to 26 percent of the total population. And about half of Black consumers say they enjoy wandering the stores looking for new, interesting products.
    Currently, Black women trail behind Latino and white women in financial security, according to a research study by the Teachers Insurance and Annuity Association of America (TIAA). In their report, they found that 71 percent of Black women and 60 percent of Latino women had at least one expensive behavior in relation to the use of credit cards. Only 49 percent of white women had at least one expensive behavior.
    The Role Of Marketing In Black Consumption Practices 
    A Nielsen report stated that Black consumer spending is highly influenced by advertising. Black people reported being 42 percent more likely than the rest of the American population to respond to mobile ads. They’re also more likely to respond to ads on television, radio and the Internet.
    This is good news for us in marketing, because it means our ads are working; however, when we zoom out and look at the big picture of our impact on an already vulnerable community, we have to pause and analyze the full impact.
    Expensive cars, clothes, hair, jewelry and vacations are perfectly fine products and services to market to the Black community, but if our marketing departments are targeting a community solely to buy their products without thinking of how they can serve that community, then we’re doing more harm to our customers than good. 
    Like many populations, Black people appreciate and almost demand to see themselves in marketing, but is our product or service helping or hurting? Are we selling a false image of success—something that makes us want to keep up with the Joneses rather than live meaningful and productive lives? As I shared earlier, we want people to buy our products and services, but we should also be concerned about the communities we are marketing to. 
    So how can we better support them as marketers?
    How Marketers Can Help
    As marketers, we don’t have to stand idly by while we watch one of the main consumer populations in America struggle. We can do something. In fact, it’s expected of us. Nielsen reported that 42 percent of Black adults expect brands they purchase from to support social causes. That’s 16 percent higher than the total population. 
    Here are just some of the ways we can support the financial advancement of Black people as marketers:
    Support and Mentor Black Business Owners
    By nurturing up-and-coming business owners, you support the growth and expansion of Black-owned products. This is important because it helps to balance the flow of money entering and leaving the Black community. It also creates more positive representation of Black entrepreneurs for the next generation to aspire to.
    Support the Expansion of Financial Literacy Resources in Black Communities
    Financial literacy is key to the advancement of the Black community. By sponsoring school financial literacy and entrepreneurship programs in Black populated areas, you’re helping to transform and uplift the Black community in a way that’ll impact generations.
    Oppose Systemic Racism That Causes Financial Challenges
    Racism is malleable and doesn’t always look as overt as it did during slavery or the Jim Crow era. Today, systemic racism affects Black people in many ways, including financially. 
    Underfunded schools and lack of support for first generation college students hurts exposure to education that qualifies people for better paying jobs. Unfair hiring practices and poor employee benefits also negatively impact Black communities financially.
    By taking a stand, being aware of your marketing practices and supporting social causes that positively impact the Black community, you’re helping to support one of the largest consumer bases in America and developing a better relationship between you and your customers.

     Anyssa Roberts is an award-winning journalist, copywriter and editor. She has written for the USA Today Network, The Spruce, Ramsey Solutions, a Dave Ramsey Company, among other marketing and news organizations. Currently, she uses content to help customer-centric brands hone their unique voice and connect with their audiences.
    Originally from Trinidad and Tobago, Anyssa earned her B.A. in journalism from the University of Kentucky and resides in the Nashville, Tennessee area.
    Anyssa is passionate about personal finance and helping people to take control of their money. When she’s not writing, she can be found researching tiny houses, experimenting with new cocktails or solo traveling. Connect with her on LinkedIn or reach out via email. She’d love to hear from you.

    Visit this page to see more in the series, or check back in a week for our next guest post. 
    CM Group is a family of global marketing technology brands including Campaign Monitor, CM Commerce, Delivra, Emma, Liveclicker, Sailthru and Vuture. By joining together these leading brands, CM Group offers a variety of world-class solutions that can be used by marketers at any level. Headquartered in Nashville, TN, CM Group has United States offices in Indianapolis, Los Angeles, New York City, Pittsburgh and San Francisco, and global offices in Australia, London, New Zealand and Uruguay.
    The post Why Black People Are Top Consumers But Lack Wealth appeared first on Campaign Monitor.

  • Why We Must Do the Customer Math and Practice Leadership Bravery

    I’ve had the great honor of working with Southwest Airlines for many years and spent a lot of time talking to, not only Herb Kelleher, but Colleen Barrett who was the president (now president emerita). Once, I was talking to Colleen, and what she said was: Jeanne, at almost every board meeting, we have to fight to make sure that we don’t let those fees seep in, that we don’t start charging change fees or luggage fees, because that’s the foundation upon which people believe in us. And that’s our integrity. And so we got to keep watching that.
    Especially those things you hold dear, hold on to them, honor them and have this lens. Part of what happens is that people will look at a spreadsheet and say, “We can get $50 million more out of customers if we do this little up-charge.”
    Well, yeah, that may be good for today, but not for tomorrow’s customers who are going to potentially walk away from you.
    I have clients who have lost $50 million customers for $200 change fees.
    So sticking to your guns in your integrity, around your decision making really does bind you to customers.
    Do the Customer Math
    One of the things that we often do in this work is ask people how we’re doing and that’s our survey score. But honoring the customer as the asset also should come from measuring, “Are they responding with their feet, in terms of staying longer? Bringing more people?”
    So one of the things I encourage you to do is customer math. Did we gain volume and value? Did we lose volume and value? And what’s our net customer asset growth? As a result of the experience we delivered? Did we earn the right to grow?
    This is why I love the story of Bonobos. Bonobos is a really intriguing company; they actually create what they call “guide shops” where you go in and try on the stuff but it’s just for trying it on. But what they know is: to a specific degree, the lifetime value of their customers, because understanding that really helps you you know and honor them and take care of the life. But what they know for example is based on how many touch points, once a new bonobos customer either starts in a guide shop or places their first order online, the lifetime value in the growth of that customer.
    So what I encourage you to do is, besides listening in terms of your voice of customer surveys, do the operational listening. Understand how many calls people make in, where they are waiting, what they’re working toward, and then look at the behavior of if they rise or fall in their asset growth with you.
    Now, this is interesting, because this is an attitude shift. It’s not a dashboard, it puts you in a position to honor that your customers.
    Prove Your Values Through Your Actions
    Practicing leadership bravery really has to be done with these actions to think about.
    How can you prove with actions? The key is to wire these into your DNA. I’ve interviewed lots of amazing people recently— Tom Peters, Seth Godin, Guy Kawasaki, etc.—and our conversation is all around sustainability of these heroic actions.
    Now that we found a way to be very human—we’re on zoom calls in our living rooms, we’re making very human actions and behaviors that kind of go out of the bounds of our normal norms of operating—how can we make sure we don’t lose that humanity? The next thing is really do that math, know your agent and customer value, and then use that in a way to let people make the call.
    I used to fly millions and millions of miles. And I had, for example, 5 million miles with American Airlines. And one day, I lost my Admirals Club card.
    And I went in and I asked the agent, “Could I have another Admirals Club card?”
    And it wasn’t her fault, the agent was boxed in. She said to me, “That’ll be $250, please.”
    You will send people packing. Customers will wonder, “Don’t you know how much I mean to you?”
    Finally, build that proactive outreach. When we look at those operational metrics, make sure you’re not doing anything inadvertently that’s reducing the lifetime value of your customer. Our responsibility everybody really is simple: it is to improve lives.
    Leadership Bravery earns and builds the kind of company that builds human and financial prosperity. And yes, growth.
    How we choose to correct something that goes wrong—how steadfast we are, in delivering the goods, ensuring quality, and giving our people what they need—sends a signal to our customers, to our partners or employees in the marketplace, about who we are and about what we value.

    Now that we found a way to be very human—we’re on Zoom calls in our living rooms, we’re operating out of the bounds of our normal operations—how can we make sure we don’t lose that humanity?Click To Tweet

    Choose Leadership Bravery
    It’s about choosing and our collective choices. So choose. Choose to enable your people to thrive, to build the best version of themselves, and enable them to make these congruent decisions which you’re already doing. Just elevate it consistently on an ongoing basis across your organization.
    Choose to make it easy to do business with you build in respect delivery.
    Choose to help customers achieve their goal reorient the operation of your business around the customer’s life and their goals and redefine how you measure success.
    And finally, choose to practice that leadership bravery that separates you from the pack and builds those stronger and deeper relationships with your customer.

    Choose to enable your people to thrive, to build the best version of themselves, and enable them to make these congruent decisions which you’re already doing.Click To Tweet

    The post Why We Must Do the Customer Math and Practice Leadership Bravery appeared first on Customer Bliss.