ConsumerTech

Want to make the most out of social media? It is time to start leveraging data. Here’s your beginner’s guide to getting started with data driven social media marketing, for maximum results.

 “Multiple Persona Disorder” occurs when you force all user personas through a single user experience even if they have different requirements. There’s a good chance it’s always been done that way for your product. Enterprise software users are typically provisioned based on role, meaning that each role logs in, accesses and interacts with the application in the same way. Role-based access defines the data each sees but the experience is the same. Whatever you call it, MPD is a major issue in enterprise applications. Forcing too many different user personas through a single user experience inevitably adds complexity and hinders adoption.

Product management has a major identify crisis. Product management is both art and science. You can teach it. You can learn it. But you also need to experience it. Product management seems to be an amorphous, fuzzy thing. Buzzword, acronyms and new memes seem to appear daily. Agile, lean, design thinking are popular terms. But how do they relate to product management? They all attempt to improve delivery quality and reduce delivery time. In the end, product management ensures the delivery and launch based on the requirements. If they add great value, why is their role so misunderstood?

As a product manager, you need to capture, understand, interpret and analyze a range of qualitative and quantitative inputs to arrive at the ideal product decisions. There is no one single source of “truth” exists when making product decisions. Some inputs are definitely more quantitative than others, but many also need a dialogue with customers as well as judgment calls, best guesses, and interpretations. There is no standard approach or single tool that meets everyone’s needs. So what’s the answer? Is product management more art than science?

In the ‘outcome economy,’ people don’t buy things. They buy outcomes. They buy the end results they are looking for. When a manufacturer sells a product-as-a-service, it is a sizeable step towards an outcome-based business model. So, what about enterprise software. Why do most enterprises still keep paying for the ‘thing’ (i.e. the software) rather than the outcome that they desire? Or to flip the question around, are there any enterprise solution providers offering outcome-based payment models? Do any enterprise software companies actually sell results rather than software?

Many startups invest too heavily in sales before really understanding their customers. Whether it is based on the belief that good salespeople can sell anything, spending too much money on sales personnel too early is a good way to fail fast in a bad way. Bringing on your sales talent before you are ready, can costs start-ups millions of dollars. Hiring your sales talent should instead be a natural outcome of understanding your customers, developing your segment playbooks and your learnings (wins and losses) from customer interactions.

When digital disruptors squeezed their way into financial services industry, one could think banks were doomed. Fintechs are luring customers away with better online service, lower fees, and cheaper transfers. Consider a huge cost of digital transformation for banking corporations and you see legacy players can have a hard time catching up with the newcomers. Apparently, the banks were not going to simply give up. Over the last five years, they spent tens of billions of dollars setting up innovation hubs, buying competitors, and changing operations.

Are you taking your social media strategy as seriously as you should? Your customers are driven to your social media pages—but once they get there, they don’t find 24×7 empathy-building communication or proud, positive brand representation, and a fast, solution-focused approach. Instead they are faced with thread after thread of negative customer feedback and lacklustre product support. Simply put, you’re doing it wrong. Think smart about your social media strategy, and start with understanding the three ways today’s fashionable feedback tool can make (or break) your CX

From a business perspective, knowing your ideal customer is important to the success of your business. This is because it is important to understand who you are trying to market your products to. Understanding your customer’s needs, wants and desires is the best thing you can do for your business. Knowing your customers is important as it helps market your products or services accurately when you are aware of their likes and dislikes. The customers who are satisfied with your business, product, and services are your true and loyal customers. Here’s how to know your potential customers.

The introduction of PFE is the beginning of a revolution in relations between the bank and its clients. The insights that flow from it will primarily build new value for users, intrinsically bonding them with the bank. Along with the development of artificial intelligence algorithms, more and more sophisticated ways will emerge that will pre-empt their clients’ behaviour and support them in everyday life. There will be ideas for dynamic adjustment of the bank’s communication to key moments in the life of the user, providing summaries after international trips, gift expenses, car running costs since the last refueling or a summary of taxi expenses.

Data ingestion and big data storage were the most foreign to marketing leaders. Understanding where each team sat in the organizations’ data story, was incredibly powerful and seemed to inspire the accountability and permission for business leaders to engage in a more informed and strategic technology conversation with IT. CIOs and CMOs must share each other’s mindset in how data plays a part in the organizations business strategy, and if this isn’t the case, both will end up overspending and over allocating budget and talent in the quest to “be an analytical organization”. Here are some items for marketing leaders to explore if all of this sounds familiar: