At our recent Marketing Leaders’ Summit, we invited CMOs from our investee companies to The Wokefield Estate to hear from a line-up of fantastic speakers about customer excellence, and how to gain loyal, valuable customers to maximise lifetime value and drive word-of-mouth referrals.
Day 1 of the Summit opened with Livingbridge’s David Kirby asking what makes excellent customer service stand out. He suggested that it comes about at a moment of truth, when something complex or important needs catering to, and when companies can offer personalised support or go the extra mile at this point, in turn it earns them loyal, happy customers.
Adam Holloway spoke about his work with Livingbridge investees to help them develop a value proposition which reflects the target customer and how in turn this can help you deliver a strong marketing message. For example, our investee Carousel Logistics’ statement: ‘we deliver, just like you promised’. Through their proposition work they understood their b2b customer is looking for a dependable logistics specialist to deliver on the commitments made to their own customers, and their proposition targets customers whose priority is reliability.
A panel of customer research experts, including speakers from White Rabbit Research, ResearchNow and Fairgrove Partners, discussed effective strategies for when to use research to bring the voice of the customer into the organisation. Aidan McManamon from Salesforce then discussed how a CRM can become a transformative tool in creating a customer journey, through monitoring engagement to customer retention. Other sessions were held from speakers from CACI, Clevertouch and our investee loveholidays, covering topics such personalised customer marketing, implementing the latest marketing technologies and transforming the way customer service is measured.
Livingbridge’s Steve Jones began Day 2 of the summit with a session on how to build an insight platform and what foundations you need to enable scale in the future. Steve argued that this is essential if you want your business to make proactive, real-time commercial decisions whilst embedding a data-driven culture across the organisation. Steve then showcased some of the dashboards from the platforms he has helped to produce across our investee companies to improve decision making and triage trading momentum.
Bev Dumbleton, COO at Sykes Holiday Cottages, presented a session on aligning an organisation around customer experience, including examples of how to use data to improve the customer journey. Bev explained how operational structures based upon measuring NPS (net promoter score) had been implemented to put the customer at the heart of the business. NPS became a key metric and driver for change within the business. In turn Sykes found that customers who positively engaged with the feedback system were far more likely to rebook, leading to the creation of a dedicated team to monitor and take action on all feedback as well as actively reach out to previously passive customers to encourage them to give feedback.
The rest of the second day sessions were led by speakers from OC&C Strategy consultants who looked at servicing the B2SME segment, Simon-Kucher & Partners who presented on effective pricing strategies and Quant Spark who focused on customer churn modelling.
Thank you to all our speakers for such interesting sessions. Our Marketing Leaders programme is designed to help marketing teams take away useful insight that leads to changing behaviour in their own business. The summit enabled the marketing leaders to think about what actions they could take to drive greater customer retention and turn customers into advocates for their own business.