Customer Strategy and Experience
For many years now, the customer has been in control. Studies have shown that broadcast media is less relevant in a world where customers can design, tailor, review and share their own content - or yours - with each other. The Internet is the great equalizing factor. Price has now become highly transparent. The concept of place has been radically redefined - online, offline, kiosk, pop-up retail - the possibilities keep expanding in new and different ways. Promotion extends into partnerships, and affinities that were never leveraged before and products are becoming highly customizable. Then there's that new "P"... - Personal.
The old approaches to Customer Strategy need to be radically overhauled. Marketing Segmentation (most notably value-based segmentation) is no longer effective, especially in isolation. Each customer voice can now be a powerhouse, sharing opinions and making demands on a globally accessible platform.
Covalent's methodology for Customer Strategy starts with the development of a customer insight framework, helping you to leverage the information you already have. We map business goals and marketing strategy and interactions to critical points in the customer lifecycle using defined metrics and benchmarks.
We assess your customers across the lifecycle to see both what is similar and what is unique. This approach to understanding customers helps you to design experiences that capitalize on competitive differentiations in a meaningful fashion for the customer. We then help you re-craft specific, highly personal Customer Experiences across the lifecycle continuum.
The Covalent Marketing methodology:
Step 1: Define core integration points between business and marketing strategy
Step 2: Determine available data, analyses, insights and gaps
Step 3: Assess core customer segments and segment deltas
Step 4: Re-craft constituent groups based on old segments
Step 5: Map customer lifecycle across a defined time period
Step 6: Determine "make or break" customer interaction points
Step 7: Determine customer experience preferences by constituent group
Step 8: Construct new customer experiences for the key interactions for each constituent group