From Strategic Insight To AI & Chatbots, Our Meetup Covered A Lot Of Ground
We hosted our inaugural London Customer Marketing Meetup this week with a group of hearty marketers braving sub-zero London temperatures, norovirus and the closing of Kings Cross station to hear three great presentations on how how customer data is being leveraged in CRM programmes and, excitingly, some very real future applications.
We went on a journey of from strategic insight to Bots and AI.
A common view was that the opportunity for marketers to use data to deliver more personal, relevant and responsive customer experience and commercial benefit has never been greater.
Finding the Big Number
We kicked off with our very own Peter Worster presenting how it is critical for brands to harness their disparate insights (research, data, people) to find the Big Number: a guiding light or call-to-action for the whole organisation.
In a world of Big Data, silo'd operations and a disconnect between acquisition and retention, Peter demonstrated how the likes of IKEA, Betsson and The AA were able to focus on the fundamentals of marketing (income, costs, customer delight) to ask big questions rather than just interesting ones.
His rallying calls were:
- Start with the big question
- Search for the big number that tells a compelling story
- Align the team, organisation and business around simple, clear measures
- Deliver the right data to the right people in the right format to enable faster, better customer-centric decisions
Bots For Business
Michael Grebennikov joined us from Digiteum, a digital transformation business.
Michael introduced us to and demonstrated what chatbots really are: a service that you interact with via a chat interface.
They don't offer a glimpse of the future - they are here and now. And Michael had some startling stats to prove it:
- Messaging apps have surpassed social networks for monthly active users
- The average US smartphone user has stopped downloading new apps
- 48% of smartphone time is spent using just one app
Bots are already helping to deliver customer service, transactions and recommend products to customers. As they increase in sophistication they will distribute content, entertain and be able to react to users inputs.
To conclude, Michael showed a case study for The Edit, a vinyl record store, selling $1million of records using a Chatbot.
The opportunity for marketers seem enormous with Bots able to provide far greater customisation and responsiveness that standard marketing automation solutions.
Optimising Content With AI
Finally, serial entrepreneur Adam Benzecrit joined us. Adam's company Sportr is using sophisticated machine learnings techniques to deliver customised content to sports fans - so, for example, gamblers find out the latest injury news on their favourite sports while Andy Murray fans only hear the latest news and results that matter to their hero.
Adam took us on a whistle-stop tour of AI, machine learning and some of the key differences with Bots.
We learned that AI is only as good as the data it uses and the feedback loops that come from users' interactions with content. Hang time and user habit are the KPIs that matter above all others.
And we explored the potential of applying the same techniques to the worlds of finance, politics and retail (or course all dependent on the availability of data lirbaries).
Some great discussion
The presentations sparked some great debate amongst the audience.
Key themes emerged and we will look to explore these further in our forthcoming Meetups:
- When implementing a CRM programme, what's most important data, people, process or technology?
- Can you deliver a valuable CRM programme without genuine C-suite engagement? And how do you build support and engagement throughout the organisation?
- Does AI mean that we will exist evermore in an echo chamber where the content we are exposed to surfaces more similar content (rather than being exposed to different content and ideas - or journalism - so that we can build a more informed opinion)?
There's more to come!
We have a great calendar of events lined up for the next few months.