The unique state of the consumer banking market in Turkey offers unrealized opportunities for banks to shine through multichannel innovations. And those that haven't started may already lag behind the competition.

At the Multichannel Management in Retail Banking conference held in Istanbul in November, Peppers & Rogers Group conducted a survey of banking executives to gauge the importance of multichannel efforts to the banking industry. Of those surveyed, 76 percent report that branch is still "the king" in terms of sales contribution. However, 40 percent say that multichannel banking is on top of their agenda.

Continue reading "Which Banking Channel Is Right for Sales? All of Them" »

Posted by Caglar Gogus | Permalink | Comments ()

Companies in the telecommunications industry are in the fight of their lives. Operators, CPE manufacturers, media companies, software vendors, and Internet players have invaded each other's previously clear-cut turfs. Over-the-top (OTT) players have become a major source of revenue cannibalization. For example, players like Netflix and Hulu are directly cannibalizing telco and cable operators' TV revenues. Similarly, applications like Skype and WhatsApp have made serious dents in operators' voice and SMS revenues. To make matters worse, the bandwidth needs of these OTT players exponentially increase the cost of building and operating telecommunications networks.

This exponential increase in bandwidth consumption is not accompanied by an equivalent increase in revenues for operators. The industry's fear is that the cost of providing connectivity could at some point outpace revenues generated. Many have tried to strike back with their own content platforms and services, with little success.

Continue reading "3 Ways for Telecoms to Compete in New Digital Ecosystem" »

Posted by Andre Popov | Permalink | Comments ()

Over the last several years, "Dr. Google" and "Dr. WebMD" have become the most trusted source of medical information for patients. Anyone looking for information about symptoms, treatments, drugs, etc. can find much more than they need online. The anonymity of it makes it a perfect environment to gather knowledge.

Continue reading "Social Media Innovation Exists in Pharma" »

Posted by Roger Estafanos | Permalink | Comments ()

At last week's Direct Marketing Association (DMA) conference in Las Vegas, Don Peppers made the case that the new realities of the e-social world give marketers a one-time opportunity to transform their companies entirely, by focusing on more engaged employees, more balanced financial metrics, and a stronger, more unifying corporate culture.

Continue reading "VIDEO -- Customers in Revolt: Threat or Opportunity?" »

Posted by Don Peppers | Permalink | Comments ()

Social networking is becoming more and more relevant in today's world, especially in the North Africa region. As evidenced by the impact that social media has had in fueling the Arab Spring, companies in that region, as well as other emerging markets, should embrace this new trend and place increasing focus on social media activities. In fact, they need to enter the 'social' era with a structured approach and best practices in their social media adoption.

Continue reading "Social Media's Untapped Potential in Emerging Markets" »

Posted by Amine Jabali | Permalink | Comments ()

The use of predictive analytics in marketing is critical for understanding and predicting the "time" dimension...the holy grail of marketing is to be able to make the right offer, through the right channel, to the right customer/prospect, at the right time. The most critical, and arguably the hardest part to get right is the time dimension. An understanding of time can help answer key questions such as: When is my customer/prospect most likely to purchase or be in-market? or How long before my customer ends their relationship?

Continue reading "Because Timing is Everything in Marketing..." »

Posted by Niren Sirohi | Permalink | Comments ()

As a manager at some point you have probably found yourself asking the question, "what's the best marketing plan I can develop?" Any time you ask a question with word "best" in it, you are asking a question about optimization.

When it comes to marketing analytics, how best can a company optimize its resources? Based on our experience with clients, we've found that the optimization questions are usually related to a client's level of decision-making.

Continue reading "Selecting the Best: Matching a Marketing Analytics Solution to Your Decision-Making Needs" »

Posted by Rafael Bradley | Permalink | Comments ()

The contact center represents a critical touchpoint in the customer-company relationship. Customers often reach out to a company's contact center because of a problem they're experiencing with a product or service. When this happens, customers are typically in an unfavorable mood.

Continue reading "The Contact Center is the New Marketing Arm" »

Posted by Cheryl Nolan | Permalink | Comments ()

According to Forrester Research, 86% of leaders place Customer Experience (CE) as their top strategic priority.* The measurement of customer experience has exploded, and numerous metrics abound, most of them focused on measuring subjective customer perceptions like customer satisfaction and net promoter score (NPS). However, for roughly 2/3 of US brands, CE ranges from just OK to downright bad, and 51% of leaders indicated that lack of strategy was a big barrier to improving their CE.**

Continue reading "Making Customer Experience Analytics Actionable" »

Posted by Niren Sirohi | Permalink | Comments ()

Despite what Jimmy Fallon has said in his Capital One commercials about how nearly everyone wants more cash, there seems to be a movement toward non-cash offers.

Continue reading "What's New in Automotive Marketing? The Increasing Use of Non-Cash Marketing Offers" »

Posted by Geoff Miller | Permalink | Comments ()

We at Peppers & Rogers Group have always advocated that acting in the best interests of your customers is sound business strategy. Not only is it the right thing to do, it can positively impact a company's bottom line. The point was proven yet again last week with the release of a report from the CFI Group that ties customer satisfaction scores to higher-than-average stock prices.

Continue reading "Wake Up Wall Street: Report Ties Customer Metrics to Company Stock Prices " »

Posted by Elizabeth Glagowski | Permalink | Comments ()

Today, it is hard to escape all the chatter about Big Data. Every time I read an article or a news story around Big Data, I can imagine the frustration every marketer must face as they try to decide what the best course of action is in this brave new world that is rife with contrarian viewpoints. Hence, I thought it would be valuable to take a critical look and distill some fundamental rules that should govern marketers' actions in the big bad world of Big Data.

Continue reading "Sifting Through All the Big Hype About Big Data" »

Posted by Niren Sirohi | Permalink | Comments ()

Last week I attended the Forrester Customer Experience Forum in New York. Judging from the number of senior-level attendees, it seems that customer experience has elevated into a strategic priority for the top management. A strong theme I noticed was the importance of cross-channel customer understanding and delivering a consistent experience through the new interaction channels.

Continue reading "Forrester Event Highlights Customer Experience Strategies in Telecom, Banking " »

Posted by Elizabeth Glagowski | Permalink | Comments ()

Customer engagement is an important indicator of marketing and value proposition performance. And it takes on increased urgency in a recessionary environment that demands businesses get more value from existing customers (especially given the cost of acquiring new ones). The challenge is how to effectively influence customer engagement. It takes an understanding of how current customers engage and what factors drives those behaviors; factors such as the business's and its competitors' actions, natural customer characteristics, and changing category dynamics to name a few.

Continue reading "Do You Know Your Customer's Engagement Pattern?" »

Posted by Niren Sirohi | Permalink | Comments ()

Customer acquisition is hard. But many companies miss the opportunity to retain customers that might be at risk of leaving. Retention is more than a one-off activity. We at Peppers & Rogers Group recommend four levels of "safety nets" to maximize customer retention and profitability: customer experience management, total relationship loyalty, proactive retention strategies, and reactive retention/winback efforts. Watch the video to learn more.

Continue reading "Video: Save at-Risk Customers With Relationship Safety Nets" »

Posted by Elizabeth Glagowski | Permalink | Comments ()

I had the opportunity to participate in a panel discussion recently sponsored by the Boston chapter of the American Marketing Association that focused on how companies were using data and customer analytics to drive marketing activities and what the trends are.

The interest in the topic was exemplified by the large and energetic crowd. Although our moderator had prepared a set of questions for us as a guide, he needn't have bothered as the session quickly devolved into a lively Q&A exchange.

Continue reading "What Customer Analytics Matters to Marketers: A Discussion" »

Posted by Don Ryan | Permalink | Comments ()

Whether it's the global credit crunch, rocketing food and fuel prices, increasing interest rates or political instability, businesses have to navigate their way through uncertain times. Keeping revenue flowing whilst keeping an eye on ever-increasing overheads is the key to survival at times like this and it has become crucial that companies continue to bring in those all important sales that keep the business afloat.

Whether it's services, goods or time that is being sold, the successful businesses outsmart their competitors, and while more advertising will likely bring in more sales, there is one often neglected area that needs to be given attention when times get tough: customer relationship management (CRM).

Continue reading "CRM Vision to Reality: How to Become More Customer-Focused" »

Posted by Zoran Vasiljev | Permalink | Comments ()

To be proactively trustworthy, a company must facilitate customers' sharing their honest opinions with other customers.

Continue reading "Why You Should Allow Customers to Review Your Products" »

Posted by Don Peppers and Martha Rogers, Ph.D. | Permalink | Comments ()

Customer churn is like a leaking faucet that, if left unchecked, can erode the foundation of your business. So getting a handle on what's causing it and what can be done to fix it is critical, especially in highly competitive marketing environments.

Continue reading "Prevent Customer Churn - Ways to Save Your Revenue" »

Posted by Ken Howes | Permalink | Comments ()

Customers use many channels to interact with the companies they do business with. This includes the rising adoption of smartphones and use of social networks among consumers. According to the Mobile Marketing Association, more than half of the population in countries such as the U.K., Saudi Arabia, Sweden, and UAE are using smartphones, while the penetration rate is greater than 40 percent in countries such as the U.S., Spain, and Switzerland. Meanwhile, Facebook has 845 million active users worldwide; LinkedIn and Twitter boast 150 million and 127 million users, respectively.

Continue reading "Redefining Retail in a Multichannel World" »

Posted by Orkun Oguz | Permalink | Comments ()

To paraphrase Warren Buffet, the secret to good customer relationships is the same as the secret to any good marriage: low expectations.

Continue reading "Customer Expectations for Trust are Rising" »

Posted by Don Peppers and Martha Rogers, Ph.D. | Permalink | Comments ()

If you're planning a trip and want to know what a hotel or resort is really like, there is no shortage of Web sites offering reviews. Some reviews are by travel critics and insiders, while others are purported to be from real customers. Problem is, a substantial number of these "real customer" reviews are, in fact, bought-and-paid-for opinions.

Continue reading "Extreme Trust is Social" »

Posted by Don Peppers | Permalink | Comments ()

To satisfy the customer is the mission and the purpose of every business. - Peter Drucker

As marketers, we've heard it said a thousand times in a thousand different ways: "Treat different customers differently." The virtues of this mantra have been extolled by management thought leaders ranging from Peter Drucker to Don Peppers and Martha Rogers, yet it is still a difficult concept for many firms to put into practice. There is tremendous potential waiting to be unlocked from the customers you already have. Not only is it imperative to keep customers, but also to provide as many relevant products and services based on their needs and your capabilities. To do this, you must evaluate each customer's perspective.

Continue reading "Long Haul Drucker: Harnessing the Power of Existing Customers " »

Posted by Peppers & Rogers Group Consulting Team | Permalink | Comments ()

Companies can outsmart their competition by taking the lead when it comes to being proactively trustworthy. I recently noticed a missed opportunity during an experience I had with my cable provider, Comcast.

Continue reading "Extreme Trust in Action: Comcast Misses an Opportunity" »

Posted by Don Peppers | Permalink | Comments ()

We are looking for examples of trustability shown by small- and medium-sized businesses. At Peppers & Rogers Group, our consulting practice primarily centers on larger companies, but there are a wide range of smaller firms that could benefit from establishing a reputation for trustability. Here are a couple of examples from our book Extreme Trust:

Continue reading "Looking for Trustability Examples..." »

Posted by Don Peppers | Permalink | Comments ()

JetBlue is an example of a trustable company. The airline proactively refunds customers when it experiences long delays, in accordance with its Customer Bill of Rights. Both are examples of JetBlue's trustability. Watch the Peppers Unplugged video to learn more.

Continue reading "Extreme Trust in Action: JetBlue" »

Posted by Don Peppers | Permalink | Comments ()

"No one would remember the Good Samaritan if he'd only had good intentions. He had money, too." -Margaret Thatcher

The clash between trustability and a company's own short-term financial interest is real. It is a serious and continuing obstacle to be overcome, and we don't want to minimize it. Urging companies simply to "do the right thing" isn't likely to change how management sees the world. The profit motive does that. But trustability is actually a tool for generating the kind of profits that ought to be beloved by any good capitalist.

Continue reading "Trustability: a Capitalist Tool" »

Posted by Don Peppers and Martha Rogers, Ph.D. | Permalink | Comments ()

"The big change in the world is that patients are taking control." The remarks from TEDMED's Jay Walker at last week's World Health Care Congress captured the prevailing sentiment of the conference for medical and healthcare executives. Nearly every session and keynote focused on the theme that consumers, once a secondary business consideration in the industry, have shot to the forefront of healthcare business strategy.

Continue reading "Executives Put Customers at the Center of the Healthcare Discussion" »

Posted by Elizabeth Glagowski | Permalink | Comments ()

Relationships revolve around trust. The need to surround ourselves with people we consider trustworthy is ingrained in human nature. Whether it's determining who to share confidential information with or which email in our inbox we should open, trust is often at the back of our minds.

Continue reading "Global View: Maintaining a Trust-Focused Relationship in Turkey" »

Posted by Simge Alpargun | Permalink | Comments ()

Our latest book is now available: Extreme Trust: Honesty as a Competitive Advantage.

But what is "extreme trust" and what does it mean for businesses? Our argument is that in a more socially connected, transparent world -- a world of Twittter and Facebook, Wikileaks and YouTube, companies will be held accountable by customers for proactively protecting their interests, rather than simply passively refraining from cheating them or deceiving them. "Extreme trust" comes when a company is proactively trustworthy, or "trustable."

Continue reading "What is "Extreme Trust"?" »

Posted by Don Peppers and Martha Rogers, Ph.D. | Permalink | Comments ()

Mark Twain once said, "Never let formal education get in the way of your learning." I couldn't agree more, especially when it comes to customer strategy.

Look around at different campaigns out there trying to entice new customers or programs that reward existing customers. How long have they been in the market? Are they effective? Most of them, sadly, aren't. And here's why. Brace yourself people...this secret hits the proverbial nail on the head when it comes to messaging and product development:

Continue reading "Why Playing Fast and Loose With Customers Is a Good Thing" »

Posted by Jonathan Marcus | Permalink | Comments ()

Being more trustable to customers means that companies, their managers, and their employees, must behave in a way that demonstrates empathy.

Continue reading "Corporations Must "Put on a Human Face" to Build Customer Trust" »

Posted by Don Peppers and Martha Rogers, Ph.D. | Permalink | Comments ()

It's a reasonable bet that very few customers would want to pay $25 a month for AOL's dial-up ISP subscription - a subscription they don't need and never use, and that they don't really know they're paying for. And most likely no one would actually want to incur NSF (insufficient funds) charges by accident. There may be times a person would choose to incur such fees, and (who knows?) some people might simply choose to pay for dial-up service just so they can say they do, but on the whole, we don't think we're going too far out on a limb by suggesting that these are not examples of companies proactively protecting their customers' interests.

Continue reading "How Trustable Companies Use Customer Insight" »

Posted by Don Peppers and Martha Rogers, Ph.D. | Permalink | Comments ()

Taking advantage of customers' errors may seem profitable in the short term, but in the long term it erodes customer trust and leads to churn.

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Continue reading "Banking on Customer Mistakes" »

Posted by Don Peppers and Martha Rogers, Ph.D. | Permalink | Comments ()

It was another banner year at the Mobile World Congress (MWC) show in Barcelona. Attendance was up 11 percent over last year to 67,000 people. The event has outgrown its venue, and will next year be held on the outskirts of the city in anticipation of continued growth. It really is impressive to be able to interact with so many players in the industry.

The mood on the show floor and in the sessions was very positive and upbeat. Innovation is moving rapidly, and many people were excited to see the latest products and services from both industry stalwarts and fledgling start-ups. But among all the product releases and high-tech announcements, the real buzzword at the conference was "customer."

Continue reading "Three Customer Trends from the 2012 Mobile World Congress" »

Posted by Ozan Bayulgen | Permalink | Comments ()

In the telecom industry, convergence and integration is a challenge for mobile and fixed-line operators as customer demand grows. It's critical for companies to be consistent and keep their promises to customers. Ozan Bayulgen, partner at Peppers & Rogers Group, shares insights on how operators can make the most of this exciting time.

Continue reading "Customer Centricity in the Mobile World" »

Posted by Ozan Bayulgen | Permalink | Comments ()

Many financial services companies struggle to balance company and customer requirements. Specifically, they're challenged with the need to deliver exceptional multichannel contact center experiences while managing operational efficiencies, containing costs, and harnessing opportunities to increase sales.

Continue reading "Balancing Multichannel Customer Support with Cost Containment" »

Posted by Peppers & Rogers Group Consulting Team | Permalink | Comments ()

The publishing industry will live or die with the success of Barnes & Noble. So says an article by Julie Bosman in The New York Times, "The Bookstore's Last Stand," (29Jan12, p. 1 Business). Bosman's article was spot on in many ways, and it's clear that CEO William Lynch is doing good things for the company. But as Ms. Bosman reports, Amazon.com's market cap is currently $88 billion, compared to B&N's mere $719 million. The Wall Street Journal reported last summer that then-execs at B&N offered to buy Amazon.com from Jeff Bezos in 1996 as a favor. In 15 years David and Goliath's roles have reversed. Have the weapons changed? Have the armies?

Continue reading "Everybody Is the Media Now" »

Posted by Martha Rogers | Permalink | Comments ()

The healthcare industry is in a state of drastic change. Legislative changes, new technologies, rising costs and growing consumer expectations mean that health insurers need to think differently about how they build and nurture relationships with their customers.

Marc Ruggiano of Peppers & Rogers Group discusses the important role consumers have in how the healthcare industry evolves, and how the idea of consumer trust can be the foundation of transformation.

Continue reading "More Than Reform: Consumer Trust Is Redefining the Healthcare Industry" »

Posted by Marc Ruggiano | Permalink | Comments ()

It's been barely a month since Yahoo appointed a new CEO. Things have been rather quiet from Yahoo's end, but the press has been quick to criticize Yahoo's board for yet another poor choice of Chief Executive to steer the Yahoo titanic out of icy waters. Indeed, at first sight, new Yahoo CEO Scott Thompson does not strike you as an obvious digital captain to lead one of the world's largest Internet destinations.

Continue reading "Is Yahoo's New CEO Doomed to Fail?" »

Posted by Andre Popov | Permalink | Comments ()

In the movie Up in the Air, George Clooney's character is a consultant obsessed with loyalty programs. His goal is to reach 10 million frequent flier miles and have a plane named after him. But what companies can actually take their loyalty programs that far? How far can you go to keep loyal customers interested and reaching for more?

Many companies offer loyalty programs, designed to reward the most loyal customers and make sure they build share of wallet. They have a progression path, tiers to be reached, and higher and higher privileges that members aspire to achieve. So what happens when a customer reaches the top of the pyramid? How do you keep the spark of the initial relationship going strong?

Continue reading "Customer Loyalty's Seven-Year Itch" »

Posted by Benjamin Filaferro | Permalink | Comments ()

Walt Disney is noted for saying that he wanted to create an experience that customers enjoy so much they come back, and they tell their friends. As part of Peppers & Rogers Group's Social Media Week last week, 1to1 Media Editorial Director Ginger Conlon and I spoke to several business leaders in New York whose firms were cited by 1to1 readers as having a unique or outstanding customer experience.

Continue reading "New York Customer Experience Stars" »

Posted by Martha Rogers | Permalink | Comments ()

Social media when applied in healthcare often comes down to risks versus rewards, because the risk of saying something in a social channel that may violate patient confidentiality is simply too great for some providers.

Continue reading "What's Your Social Readiness Score?" »

Posted by Marc Ruggiano | Permalink | Comments ()

Executives who grew up in the world of mass media, and -- despite the freshest thinking they can muster -- still ask, when confronted with the new technologies: "How can we use social media to increase sales, increase reach and frequency at low cost, and "create buzz?" It's the wrong question to ask.

Continue reading "What's the Right Question?" »

Posted by Martha Rogers | Permalink | Comments ()

I peruse the financial trade press pretty often. In them I read articles and come across ads touting new brands, new products, new technology, justification of new fee structures, announcements of buyouts and mergers, new channels of distribution, and so on. Most of it is interesting - some a little less so. But if you look closely at all of it, there is big pit of missing information.

Seriously, does anyone else notice that "customers" are glaringly excluded from the discussions? They are begging to be heard and are extremely willing to be loyal. But instead companies focus on everything else but their most important asset.

Continue reading "The Financial Industry's Selective Customer Memory" »

Posted by Jonathan Marcus | Permalink | Comments ()

James Gaskin has written an interesting article in IT World about why one web site entrepreneur has declared he is fed up with the "freemium" business model. Freemium, widely used in the software and applications industry, allows a product to be distributed free of charge in its basic configuration, but then charges a user for more advanced versions or features. It's free to join LinkedIn and use it to post your profile and connect with others, but LinkedIn Premium services allow you to do things like see who has viewed your profile, search more thoroughly for others outside your connections, and reach out to people you aren't yet connected with. I play chess online for free, but for $5 a month I also get access to 25 chess tactics problems a day. My Xobni application is free, but with an upgrade my Outlook will automatically fill in many more email addresses, and do a number of other things that are highly useful to any heavy email user. Several higher-end media and content offerings are made on a freemium basis, including the Wall Street Journal, New York Times, The Times of London, and Harvard Business Review.

Continue reading "Freemium: Why Non-Paying Customers Are Harder to Satisfy" »

Posted by Don Peppers | Permalink | Comments ()