When businesses connect with their consumers’ emotions, the payback may be enormous. Consider the following examples: Following the introduction of a credit card designed specifically for Millennials, utilisation increased by 70%, and new account growth increased by 40%. A prominent home cleaner transformed market share losses into double-digit growth within
If you look under the hood of most company’s data strategy – if they have one, that is – you’ll find that most data is woefully unmanaged. It’s unclear how data is meant to be used and who is responsible for it. Businesses must craft better systems and approaches to
In the wake of George Floyd’s murder and the resurgence of the Black Lives Matter movement, companies of all stripes rushed to release statements citing the need for “change” and “solidarity.” A meaningful subset of those companies promised to review internal policies for racial bias, improve hiring practices, or make
To elevate the human experience, HHS agencies need to deliver the right content to the right person at the right time through their preferred channel. Technology, coupled with a sound personalization strategy, can make it happen. As psychologist, economist, and Nobel Laureate Herbert A. Simon observed, “A wealth of information
Authenticity is important at work, but sometime’s it’s challenging to identify and maintain. Plus, what if the authentic emotions you’re feeling conflict with the message you’re trying to convey to colleagues or employees? When is it useful to lean into authenticity, and when is inauthenticity actually a better strategy? Research
Since its introduction, in 2003, the Net Promoter System, which measures how consistently brands turn customers into advocates, has become the predominant customer success framework. But as its popularity grew, NPS started to be gamed and misused in ways that hurt its credibility. Unaudited, self-reported Net Promoter Scores undermined the
In just about every area of life, we are increasingly generating ever-larger volumes of data, and one of the most valuable uses businesses are finding for it is helping them to make better decisions. This happens all the time and can be a manual process – for example, taking the
From Rolls Royce creating the ultimate bespoke car to jewellers Boodles producing a £1 million necklace, this series follows the highly skilled teams whose tireless devotion and attention to detail produce astonishing results. Follow the story of some of the world’s most prestigious brands and the extraordinary lengths they go
Loyalty programs – that effectively bribe people into buying more of your products – are lazy. In the modern aspiration economy, people develop true brand affinity only when it gives them a sense of community. Membership strategies are an effective way to achieve that goal. To do this effectively, remember
“One of the challenges in developing AI applications is obtaining the vast amount of data that’s required. Making matters worse, regulations and privacy issues pose obstacles to firms’ sharing their data. A possible solution is for firms to form a “data trust.” that serves as a fiduciary for the data
In its report, Forrester notes that many companies are set to invest more in automation than in rehiring in the wake of the coronavirus pandemic, corroborating earlier reports that had claimed many businesses were already planning to accelerate their automation strategies.
In today’s digital economy, your data’s value will be limited and muted if it remains siloed within individual business systems. The power of digital transformation can only be unleashed when data flows freely between key business systems. The connective tissue between these applications is often APIs (Application Programming Interfaces).