Customer's New Voice : Extreme Relevancy and Experience Through Volunteered Customer Information.

By: McKean, John SContributor(s): Bachrach, DanPublisher: Somerset : John Wiley & Sons, Incorporated, 2014Copyright date: ©2015Edition: 1st edDescription: 1 online resource (346 pages)Content type: text Media type: computer Carrier type: online resourceISBN: 9781119004363Subject(s): Customer relations.;Consumer behaviorGenre/Form: Electronic books. Additional physical formats: Print version:: Customer's New Voice : Extreme Relevancy and Experience Through Volunteered Customer InformationDDC classification: 658.8343 LOC classification: HF5415.5 -- .M3834 2015ebOnline resources: Click to View
Contents:
Intro -- Customer's New Voice -- Contents -- Foreword -- Preface: New Voice, New Competencies -- Acknowledgments -- PART I DAWN OF THE NEW CUSTOMER -- CHAPTER 1 New Information Masters -- Informed -- Sharing -- Mobile -- Future Masters -- Pragmatic but Digitally Aware -- Digital Natives -- Notes -- CHAPTER 2 Power and Transparency -- Absolute Power -- New Transparency -- Asynchronous Transparency -- Synchronous Transparency -- Death of B2C/C2B -- Birth of C2W/W2C -- Note -- CHAPTER 3 Age of Sharing -- Historical Sharing Tools -- Sharing Statistics -- Intentional versus Incidental -- Value of Intent and Context -- Science of Consumer Sharing -- Why Consumers Share/Don't Share -- Why Is Sharing (Self‐Disclosure) Important? -- Fear of Missing Out -- Social Validation -- Ego -- Social Comparison -- Social Space Underpinning New Sharing Norm -- What Consumers Share -- Notes -- PART II NEW VOICE INNOVATORS' WIN-WIN -- CHAPTER 4 Yesterday's Indirect Information Model -- Yesterday's Model -- Legacy of Indirect Information -- Privacy Not -- Notes -- CHAPTER 5 Emerging Customer's New Voice Business Information Model -- Customer-Direct Information Model -- Forces Driving New Voice Engagement -- Customers Want Relevancy -- Businesses Want Relevancy -- Direct New Voice Navigates Privacy -- Direct Competencies Required -- Information/Value Exchange Competency -- Direct Information Competency -- Unlocking Consumers' Intent -- Intent Continuum -- Life of Intent and Context -- Indirect Voice of Purchase Intent/Context -- Sources -- Display (Digital) Advertising Intent and Context Sources -- Price of Inferred Intent and Context -- Segmentation Uncertainty -- Location‐Based Intent and Content Sources -- Location‐Based Service Providers -- Transaction Intent and Context Sources -- Video Intent and Context Sources -- Notes.
CHAPTER 6 Today's Customer's New Voice Vertical Industry Innovators -- Industry Innovators (Vertical) -- Automotive -- Communications -- Consumer Products -- E‐Commerce -- Financial -- Health -- Insurance -- Retail Stores -- Technology (Consumer) -- Transportation -- Utilities -- Notes -- CHAPTER 7 Horizontal Industry Innovators -- Collaborative Consumption (Sharing Your Stuff) -- Quantified Self -- Wearable Technology -- Mobile Health -- Internet of Things -- Triangulated Personal Information -- Sensor Technology -- Virtual Reality -- Augmented Reality -- New Customer Information Industry (Consumer as Stakeholder) -- Software and Services -- Contrasting the Approaches -- The Customer's Voice -- Notes -- CHAPTER 8 Practical Guide: How to Leverage the Customer's New Voice Today with Dr. David Schrader -- Scenario 1: Jeff's Shopping Trip -- Scenario 2: Jill's Grocery Shopping -- Overview -- Strategy -- Marketing and Sales -- Customer Service -- Information Technology -- Step‐by‐Step Processing Requirements -- Architecture Changes -- Notes -- PART III ENGAGING TOMORROW'S NEW VOICE -- Notes -- CHAPTER 9 How Consumers Will Buy Tomorrow -- Selling Reincarnated as Buying: New Buy/Sell Process -- Search/Target -- Find (Engage)/Inquiry Management -- Negotiation -- Transact -- Welcome -- Relationship Servicing -- Relationship Development -- Manage Problems -- Manage Exits -- Re‐Engagement -- Advertising Inversion -- Evolution (and Inversion) of Today's Interactive Advertising Infrastructure -- Notes -- CHAPTER 10 New Privacy -- Government/Advocacy Personal Data Initiatives -- Government/Advocacy Personal Data Protection -- Pending U.S. Bills -- Data Breaches -- Pivotal Personal Data Protection Initiatives -- 2010 Federal Trade Commission Privacy Report -- 2010 Do Not Track -- 2011 Commercial Privacy Bill of Rights Act.
2012 EU Strictly Enforcing Cookie Directive -- 2012 U.S. Consumer Privacy Bill of Rights -- 2012 EU Data Protection Reform -- 2013 California Department of Justice Agreement -- 2013 UK's Enterprise and Regulatory Reform Bill with Midata Rights -- 2013 Network Advertising Initiative (NAI) Code of Conduct -- 2012 EU Commission Cloud Computing Report -- 2013 California Department of Justice's "Privacy on the Go" -- 2013 EU's Article 29 Data Protection Working Party Opinion -- 2013 UK's Internet Advertising Bureau (IAB) -- 2013 European Interactive Digital Advertising Alliance Campaign -- Pivotal Business Event Time Line -- Notes -- CHAPTER 11 Future Consumer Data Ecosystem -- Consumer as Information Stakeholder -- Mature Consumer/Business Information Sharing Models -- The Collaborative Data Landscape -- Personal Data Flows in an Ecosystem -- Walking through the Model -- Personal Zone -- Personal Zone Connects Individual to Organizations -- Infomediaries Work on the Individual's Behalf for Businesses/Markets -- Data Aggregators in the Personal Data Ecosystem -- Three Key Components Enabling the Personal Data Ecosystem -- Frameworks: The Major Ecosystem Governance Mechanism -- Governance Manages Risk -- Recap -- Volunteered Customer Information Service Characteristics -- Personal Information as a Sovereign/Monetized Asset -- Personal Data Ecosystem -- PDE Data Elements -- PDE Roles and Flows -- PDE Data Sovereignty and Interoperability -- New Customer's Voice Feeds New Business Intelligence -- Notes -- About the Author -- Index -- EULA.
Summary: Find out how to reap the benefits of motivating and engaging the new, direct customer voice The Customer's New Voice shows businesses how to motivate and transform directly volunteered consumer knowledge into profitable insights, enabling a new echelon of marketing relevancy, customer experience, and personalization. With a deep look at the inner workings of how a modern generation of business innovators are tapping into the fresh opportunities with the customer's new voice, this book describes how businesses are transforming "inference-based" predictions of purchase intent with direct consumer knowledge of their actual intentions and buying context. The result: An untouchable/unprecedented level of offer relevancy, experience, and personalized service levels. Those offers range from the most basic app model of "Give me your physical location, we'll find the best Thai restaurant near you, and give you an instant coupon" to a more complex model such as an Electric utility value proposition: "We'll give you discounts to charge your Prius during certain times to help us optimize our grid efficiency while allowing Toyota to monitor and optimize your battery to enable Toyota's R&D and customer experience enhancement." Forty case studies detail proven approaches for directly engaging the new consumer, showing companies how to take advantage of rapidly evolving personal technology-smart phones, homes, vehicles, wearable technology, and Internet of Things-and the new sharing culture to collect the higher value "intentionally/ discretionarily" shared information. Readers gain access to a robust tool set including templates, checklists, tables, flow diagrams, process maps, and technical data schematics to streamline these new capabilities and accelerate implementation of these transformational techniques. Ninety percent of the data that businessesSummary: use to determine what they sell or how to personalize a customer experience results from consumers unintentionally volunteering "indirect" data; however, this type of data has less than 10 percent accuracy. This low effectiveness also necessitates up to 70 percent of a business's cost infrastructure. Direct consumer knowledge is now available and boasts up to 20-50 percent accuracy, yet businesses remain anchored in the old "indirect" competencies. This book helps companies integrate compelling sharing motivators and controls for consumers to feel motivated and safe about directly sharing their product and experience desires, providing the ultimate market advantage. Learn how to catch up to the new digitalized consumer Leverage direct consumer information from current megatrends Navigate privacy's current and future metamorphosis Unlock the untapped value of Big Data's true enabler-Little Data Parsing "incidentally" volunteered data has been stagnant for decades due to the capabilities and expectations of a new generation of enabled consumers The timeless reality is that any level of investment in computing power, data, and analytics will never approach their full ROI potential without interfusing the direct, intentional insights from the consumer. If today's forward-thinking companies want to profitably engage the new consumers, they must learn the secrets of motivating and safeguarding this new potential of customer transparency. The risks of not engaging these new consumer voices? Irrelevancy and Silence. The Customer's New Voice shows businesses how to fulfill the promise and caveat of the new consumer: "If you make my life easier, reward me, and respect my shared information: I will tell you my secrets.".
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Intro -- Customer's New Voice -- Contents -- Foreword -- Preface: New Voice, New Competencies -- Acknowledgments -- PART I DAWN OF THE NEW CUSTOMER -- CHAPTER 1 New Information Masters -- Informed -- Sharing -- Mobile -- Future Masters -- Pragmatic but Digitally Aware -- Digital Natives -- Notes -- CHAPTER 2 Power and Transparency -- Absolute Power -- New Transparency -- Asynchronous Transparency -- Synchronous Transparency -- Death of B2C/C2B -- Birth of C2W/W2C -- Note -- CHAPTER 3 Age of Sharing -- Historical Sharing Tools -- Sharing Statistics -- Intentional versus Incidental -- Value of Intent and Context -- Science of Consumer Sharing -- Why Consumers Share/Don't Share -- Why Is Sharing (Self‐Disclosure) Important? -- Fear of Missing Out -- Social Validation -- Ego -- Social Comparison -- Social Space Underpinning New Sharing Norm -- What Consumers Share -- Notes -- PART II NEW VOICE INNOVATORS' WIN-WIN -- CHAPTER 4 Yesterday's Indirect Information Model -- Yesterday's Model -- Legacy of Indirect Information -- Privacy Not -- Notes -- CHAPTER 5 Emerging Customer's New Voice Business Information Model -- Customer-Direct Information Model -- Forces Driving New Voice Engagement -- Customers Want Relevancy -- Businesses Want Relevancy -- Direct New Voice Navigates Privacy -- Direct Competencies Required -- Information/Value Exchange Competency -- Direct Information Competency -- Unlocking Consumers' Intent -- Intent Continuum -- Life of Intent and Context -- Indirect Voice of Purchase Intent/Context -- Sources -- Display (Digital) Advertising Intent and Context Sources -- Price of Inferred Intent and Context -- Segmentation Uncertainty -- Location‐Based Intent and Content Sources -- Location‐Based Service Providers -- Transaction Intent and Context Sources -- Video Intent and Context Sources -- Notes.

CHAPTER 6 Today's Customer's New Voice Vertical Industry Innovators -- Industry Innovators (Vertical) -- Automotive -- Communications -- Consumer Products -- E‐Commerce -- Financial -- Health -- Insurance -- Retail Stores -- Technology (Consumer) -- Transportation -- Utilities -- Notes -- CHAPTER 7 Horizontal Industry Innovators -- Collaborative Consumption (Sharing Your Stuff) -- Quantified Self -- Wearable Technology -- Mobile Health -- Internet of Things -- Triangulated Personal Information -- Sensor Technology -- Virtual Reality -- Augmented Reality -- New Customer Information Industry (Consumer as Stakeholder) -- Software and Services -- Contrasting the Approaches -- The Customer's Voice -- Notes -- CHAPTER 8 Practical Guide: How to Leverage the Customer's New Voice Today with Dr. David Schrader -- Scenario 1: Jeff's Shopping Trip -- Scenario 2: Jill's Grocery Shopping -- Overview -- Strategy -- Marketing and Sales -- Customer Service -- Information Technology -- Step‐by‐Step Processing Requirements -- Architecture Changes -- Notes -- PART III ENGAGING TOMORROW'S NEW VOICE -- Notes -- CHAPTER 9 How Consumers Will Buy Tomorrow -- Selling Reincarnated as Buying: New Buy/Sell Process -- Search/Target -- Find (Engage)/Inquiry Management -- Negotiation -- Transact -- Welcome -- Relationship Servicing -- Relationship Development -- Manage Problems -- Manage Exits -- Re‐Engagement -- Advertising Inversion -- Evolution (and Inversion) of Today's Interactive Advertising Infrastructure -- Notes -- CHAPTER 10 New Privacy -- Government/Advocacy Personal Data Initiatives -- Government/Advocacy Personal Data Protection -- Pending U.S. Bills -- Data Breaches -- Pivotal Personal Data Protection Initiatives -- 2010 Federal Trade Commission Privacy Report -- 2010 Do Not Track -- 2011 Commercial Privacy Bill of Rights Act.

2012 EU Strictly Enforcing Cookie Directive -- 2012 U.S. Consumer Privacy Bill of Rights -- 2012 EU Data Protection Reform -- 2013 California Department of Justice Agreement -- 2013 UK's Enterprise and Regulatory Reform Bill with Midata Rights -- 2013 Network Advertising Initiative (NAI) Code of Conduct -- 2012 EU Commission Cloud Computing Report -- 2013 California Department of Justice's "Privacy on the Go" -- 2013 EU's Article 29 Data Protection Working Party Opinion -- 2013 UK's Internet Advertising Bureau (IAB) -- 2013 European Interactive Digital Advertising Alliance Campaign -- Pivotal Business Event Time Line -- Notes -- CHAPTER 11 Future Consumer Data Ecosystem -- Consumer as Information Stakeholder -- Mature Consumer/Business Information Sharing Models -- The Collaborative Data Landscape -- Personal Data Flows in an Ecosystem -- Walking through the Model -- Personal Zone -- Personal Zone Connects Individual to Organizations -- Infomediaries Work on the Individual's Behalf for Businesses/Markets -- Data Aggregators in the Personal Data Ecosystem -- Three Key Components Enabling the Personal Data Ecosystem -- Frameworks: The Major Ecosystem Governance Mechanism -- Governance Manages Risk -- Recap -- Volunteered Customer Information Service Characteristics -- Personal Information as a Sovereign/Monetized Asset -- Personal Data Ecosystem -- PDE Data Elements -- PDE Roles and Flows -- PDE Data Sovereignty and Interoperability -- New Customer's Voice Feeds New Business Intelligence -- Notes -- About the Author -- Index -- EULA.

Find out how to reap the benefits of motivating and engaging the new, direct customer voice The Customer's New Voice shows businesses how to motivate and transform directly volunteered consumer knowledge into profitable insights, enabling a new echelon of marketing relevancy, customer experience, and personalization. With a deep look at the inner workings of how a modern generation of business innovators are tapping into the fresh opportunities with the customer's new voice, this book describes how businesses are transforming "inference-based" predictions of purchase intent with direct consumer knowledge of their actual intentions and buying context. The result: An untouchable/unprecedented level of offer relevancy, experience, and personalized service levels. Those offers range from the most basic app model of "Give me your physical location, we'll find the best Thai restaurant near you, and give you an instant coupon" to a more complex model such as an Electric utility value proposition: "We'll give you discounts to charge your Prius during certain times to help us optimize our grid efficiency while allowing Toyota to monitor and optimize your battery to enable Toyota's R&D and customer experience enhancement." Forty case studies detail proven approaches for directly engaging the new consumer, showing companies how to take advantage of rapidly evolving personal technology-smart phones, homes, vehicles, wearable technology, and Internet of Things-and the new sharing culture to collect the higher value "intentionally/ discretionarily" shared information. Readers gain access to a robust tool set including templates, checklists, tables, flow diagrams, process maps, and technical data schematics to streamline these new capabilities and accelerate implementation of these transformational techniques. Ninety percent of the data that businesses

use to determine what they sell or how to personalize a customer experience results from consumers unintentionally volunteering "indirect" data; however, this type of data has less than 10 percent accuracy. This low effectiveness also necessitates up to 70 percent of a business's cost infrastructure. Direct consumer knowledge is now available and boasts up to 20-50 percent accuracy, yet businesses remain anchored in the old "indirect" competencies. This book helps companies integrate compelling sharing motivators and controls for consumers to feel motivated and safe about directly sharing their product and experience desires, providing the ultimate market advantage. Learn how to catch up to the new digitalized consumer Leverage direct consumer information from current megatrends Navigate privacy's current and future metamorphosis Unlock the untapped value of Big Data's true enabler-Little Data Parsing "incidentally" volunteered data has been stagnant for decades due to the capabilities and expectations of a new generation of enabled consumers The timeless reality is that any level of investment in computing power, data, and analytics will never approach their full ROI potential without interfusing the direct, intentional insights from the consumer. If today's forward-thinking companies want to profitably engage the new consumers, they must learn the secrets of motivating and safeguarding this new potential of customer transparency. The risks of not engaging these new consumer voices? Irrelevancy and Silence. The Customer's New Voice shows businesses how to fulfill the promise and caveat of the new consumer: "If you make my life easier, reward me, and respect my shared information: I will tell you my secrets.".

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2019. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

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