Posted by Anton Doss on April 14, 2020.
Recently, companies have begun to broaden the lens they use to view their customers and see them as humans with real emotions, values, and needs. This shift is taking place as brands move from a narrow, interaction-based, customer experience to a broader understanding of their customers and their personal values—their human experience. This new focus on elevating the human experience helps organizations to cultivate a greater connection with customers. By aligning with the human values that matter most to customers, they are more likely to foster increased loyalty and growth.
CMOs are finding themselves positioned to lead this human-focused charge, as they are equipped with bigger data, faster technology, and more influence than ever before. Yet they are often still hampered by two age-old human biases: Preference for immediate gratification (present bias) and inability to compare value today against value tomorrow (time discounting). These biases effect how their efforts are valued and how that value is perceived.
Related links BersinLearn more. Follow us @DeloitteHCStay connected. The CMOs challenge: Trying to create meaningful value in an instantaneous world
As the quantity and accessibility of data continues to grow, many leaders still struggle to grasp its full power. Despite a growth in data, many marketers do not feel confident in their ability to measure perceptions, emotions, and behaviors across the customer journey.
In spite of these challenges, CMOs have an opportunity to own the customer experience and its powerful economic potential. Greater availability of data offers an ability to understand customers and their journey so much faster and more completely than ever before. They can leverage data to reach customers at the right time in the short term and unlock insights that drive strategic enterprise-wide decisions on the products and solutions to invest in for the long term. It’s ultimately a missed opportunity if the CMO is not able to redefine how near-term success may look different as an organization’s perspective on human experience evolves.
Who really cares about long-term brand success? Fighting human biases is a difficult task, and the CMO has less incentive to embark on multi-year transformation programs when they, and their peers, seem to place higher value on their near-term results. Quick wins can easily show value for the CMO while they’re in the role. Long-term results may only be realized after they’ve left the organization. However, the greatest value for organizations can be built over the long term as brands invest in the human experience and build trust, loyalty, and advocacy among their customers.
How can CMOs manage long-term value-added activities while finding meaning in readily available data and making an impact through day-to-day activities?Communicate relative value In becoming more experience-focused, storytelling becomes an increasingly useful tool to better frame and communicate value. However, in this case, storytelling alone is not enough; storytelling needs to communicate relative value. Other leaders need to recognize how short-term successes can lead to long-term relationships.Ask: How can I tell the customer’s story in a way that emphasizes the need for customer-centricity?Anchor. Reframe. Repeat. When it is hard to measure—or understand—value, making it relative allows people to make assessments in a comparative nature. Establishing consistent and relatable anchor points allows others to more easily assess progress and better connect the dots. This consistent look at reframing challenges and results can lead to greater buy-in among C-suite peers. CMOs can increase the acceptance of their initiatives by framing them in the language of their peers; convert the metrics of marketing into the language of business. Instead of talking about building awareness, explain how marketing efforts translate into customer acquisition. Link increasing customer loyalty to the long-term value of the customer.Ask: How might I frame the relevance of near-term data into larger picture of where the organization is headed?Take them on the journey While people’s natural tendency is to prefer near-term value, it also is a missed opportunity to redefine how near-term metrics equate into longer-term success. Highlighting relative shifts and trends, especially over time, can help the CMO to better contextualize value and the full journey. Cultivating a better understanding of customer behavior can ultimately lead to stronger results across the organization—CMOs can work with CSOs to build better sales experiences; redesign digital touchpoints with the CIO; and establish more user-friendly customer service policies with the COO.Ask: How could I paint a better picture of the full journey when talking about the value and progress with my peers? With the rapid change in technology and the ways people collaborate, age-old human biases are surfacing in new areas. Understanding how it impacts decision-making can help CMOs redefine value and lead the organization in evolving the human experience for its customers, employees, and partners. Access Deloitte’s 2020 Global Marketing Trends here.
Anton Doss is a senior consultant in the Human Capital practice of Deloitte Consulting LLP, focused on helping organizations evolve their customer + employee experiences by improving their innovation practices..The post How CMOs can use behavioral design to enhance the human experience (HX) appeared first on Capital H Blog.
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Date/time: 15th April 2020, 00:01
Talent Scout, Human Resource Management, Talent Management , Learning & Development, Organisational Development, Change Management, Psychology, Neuropsychology.