1、2020 Australian Customer Values AnalysisTHE UNSPOKEN CUSTOMERCUSTOMERS FOR LIFEFull ReportPublished in November 2020C O N T E N T SIntroduction 4A brand wake-up call 8Same,same,but NOT different 20Market smarter:Email and beyond 28The trust imperative 32What is luring your customers away?40$1 or$1m
2、customer?44The moneymoon and path to re-purchase 48Think like a customer,grow your brand 58Conclusion 622We sought to hear from the unspoken customers,those who talk with their wallets,not their social media likes.We sought to hear from the unspoken customers,those who talk with their wallets,not th
3、eir social media likes.How big would your brand be if you never lost a customer?As marketers and brand leaders,we tend to focus our efforts on the finding and not the keeping of customers.When competition is low,market confidence high,and your budgets flush-this strategy appears to work.But its not
4、sustainable,youll plateau,then fight the decline.When looking at the masses of research and case-studies available,youd be forgiven for thinking that as long as you keep spending enough on advertising,buying the latest tech,releasing an app,and finding the mystical millennial,then youre set for succ
5、ess.The reality however,is very different.Its a crowded space out there,with brands fighting for the customers attention-yet not every customer is worth the fight.Its how well you keep them that will make or break your success.As Customologists,were students of the customer.We seek to understand wha
6、t they feel,what influences them,and how we can help brands keep and grow them.We sought to hear from the unspoken customers,those who walk with their wallets,not their social media likes.This inaugural report delivers direct insight into the hearts and minds of Australian customers;lifting the lid
7、on what Aussies believe,feel,want and,importantly,value.Our research reveals big opportunities for brands to grow.Youll see the gaps in your own strategies and how to realign your brand to what your customers really value.Michael BarnardGeneral Manager&CustomologistIntroduction542,5 0 6 A U S T R A
8、L I A N S S U R V E Y E DQLD20%WA10%NSW32%SA7%NT2%ACT2%VIC25%TAS2%Location0.15%Prefer not to say50.55%Female49.30%MaleGenderAge 18-25 YEARS14%26-40 YEARS27%41-55 YEARS25%56-74 YEARS25%75-95 YEARS9%766 OUT OF109 OUT OF10CUSTOMERSCUSTOMERSARE RARELY OR NEVER THANKED AFTER MAKING A PURCHASEARE REGULARL
9、Y ASKED FOR SOME FORM OF FEEDBACKWhen was the last time you invited someone over for dinner for the first time?Take yourself back to that night for a minute,and remember what you said to your friend,colleague,acquaintance as they were leaving.Lets have a guessA brand wake-up call“How would you rate
10、the food out of 10?”“Would you visit here again in the future?”“Would you recommend my cooking to your friends and family?”No most likely you thanked them for comingright?A brand wake-up callYet,were all guilty of forgetting our manners when were too focused on learning how we performed or what we c
11、ould do better next time.As marketers,were guilty of not recognising our customers,or worse,not appreciating them.6/10 customers are rarely or never thanked after making a purchase-this is crazy.Are we really forgetting to recognise our customers this often?And whilst very few customers receive a th
12、ank you,almost all of them(91%)are regularly asked for some form of feedback or satisfaction rating.Recommendation from a CustomologistThe first form of contact with the customer should ALWAYS be a thank you.98A brand wake-up call“Brands that are too focused on short-term KPIs spend too much effort
13、chasing their next customer,rather than looking after their“now”customer.Adopting a customer-first culture is the key to survival at any time,but especially while the operating environment is so turbulent,and this approach is essential when partnering with the right franchisees or employees to repre
14、sent the brand.”Jason Gehrke,Director,Franchise Advisory Centre“I think many marketers will be shocked to learn how their customers are genuinely feeling and behaving in regards to their brand.But I believe it is a shock that is desperately needed.Customer loyalty cannot be purchased.And customers l
15、ives and interests reach far beyond the relationship they have with any brand.This research is a wakeup call to brands that have allowed customer communications to become rote,predictable and annoying;which I am sure is the opposite of their intended purpose.”Joe Talcott,Partner,Creatism AcademyA br
16、and wake-up call1110Thoughts from a Customologist Brands risk losing valuable customers if they dont recognise and reward them based on their unique position in the lifecycle.Assess existing loyalty or reward programs to determine if they are still relevant.THEY ARE REWARDED FOR THEIR LOYALTYTHEY AR
17、E BEINGrewarded for referrals55%51%63%REMARKETED TO TOO OFTENThoughts from a Customologist Know the customers purchase history to target them with relevant marketing messages.Market smarter by leveraging alternative channels to engage the customer.Customers are feeling.Customers are feeling.Customer
18、s are feeling.Customers are feeling.UNREWARDEDBOMBARDEDDONT BELIEVE BELIEVE BELIEVE THEY SHOULD BETHEY ARE BEING EMAILED48%TOO OFTENBELIEVE A brand wake-up callA brand wake-up call1312Idea from a Customologist Send tailored rewards to customers based on their specific purchase behaviour and preferen
19、ces.77%BETTER INCENTIVESReceiveReceiveTHANBELIEVE NEW CUSTOMERS82%COULD BE TEMPTED BY A Customers are feeling.Customers are feeling.LIED TOLOYAL CUSTOMERSA brand wake-up callA brand wake-up callCOMPETITOR 151474%OF CUSTOMERSBRANDS LIE in their marketing communications BELIEVEDID NOT RECEIVE51%ANY FO
20、RM OF COMMUNICATIONafter their first visit,despite sharing their details.These stats paint quite a negative picture,but unfortunately the data does not lie.The truth is that were all at great risk.Great risk of neglecting our customers and losing them to a competitor.We need to stop this way of thin
21、king before its too late.Customers have access to a profound number of alternative options,including your direct and indirect competitors.They want to feel valued.Is your brand genuinely delivering this to your customers?If not,there are plenty of competitors out there who will.We conducted this res
22、earch to learn how customers are really feeling,what they value and how they want to be recognised and rewarded.The insights revealed both risk and opportunity.Its a wake-up call really,things clearly need to change.And if there was ever a time to make change happen-this is it.The opportunities far
23、outweigh the risks.Its time to invest in our existing customers,put them first and demonstrate how much we care,for the return will be long-term sustainable growth and success.Thoughts from a Customologist Customers are sceptical-make your communications personal and relevant.Be transparent and clea
24、r,make it easy for the customer to redeem any incentives/rewards.Thoughts from a Customologist This is a significant opportunity to make the customer feel valued,continue the conversation and activate the path to re-purchase.LIED TOINVISIBLECustomers are feelingCustomers are feeling.Customers are fe
25、eling.Customers are feeling.A brand wake-up callA brand wake-up callOF CUSTOMERS1716“Developing a strong base of loyal customers is one of the key ways any brand can drive themselves ahead of their competitors.Customer data is at the heart of this.It reveals all you need to know about your customers
26、,helping you to design relevant and effective rewards programs.”Sean Brandon,Sales Director AU/NZ,GivexA brand wake-up callA brand wake-up call1918Same,same,but NOT differentOur research revealed the three main customer irritations about the marketing communications they receive today:Often,the need
27、 to meet KPIs and get campaigns out the door takes precedence over adding genuine value to the customer.The digital economy has given us access to more customer data than imaginable,and yet we dont take advantage of it,continuing to spam our customers with the same messages,sent at the same time.Too
28、 many of us are guilty of this spray and pray approach.123They are non-stopThey always contain the same informationApart from name,the content is not personalised61%41%OVER 10 EMAILSHARDLY READ ANYOR NONE AT ALL Subject line and individual personalised offers were the main reasons selected for openi
29、ng an email.SUBJECTsaid that these emails rarely influenced a future purchase.49%10+ARE RECEIVINGSAID THEYEACH WEEK(36%OF WHICH RECEIVE OVER 20!)DELETECustomer behaviour,as always,continues to evolve-they are on the move,active across multi-channels.Yet,email is still seen as the holy grail.Recommen
30、dation from a Customologist Consider alternative channels to engage customers.A balance of emails,social ads,SMS and phone comms for example will have much more of an impact than an email only strategy.Same,same,but NOT different2120Same,same,but NOT differentSame,same,but NOT different“Boost Juice
31、is extremely passionate about delivering great value to our customers.Weve leveraged data to help us enhance our customer relationships.This data also helps us to understand our customers better and to identify behavioural trends,which is critical to our communications strategy.”Joanne Bradley,Chief
32、 Marketing Officer,Retail Zoo232245%OF CUSTOMERSBELIEVEBELIEVE THATDo you ignore or spam your customers?THEY ARE NOT TARGETED in a relevant way,even when they have shared their personal details.Same,same,but NOT differentSame,same,but NOT different61%Idea from a CustomologistLeverage the data you ha
33、ve to help you segment your customers-dont create assumed personas.A simple,yet very effective approach is the RFM segmentation model,which stands for Recency(when the customer last shopped with you),Frequency(how often the customer shops with you)and Monetary value (how much the customer spends wit
34、h you).By segmenting your customers this way,you will gain invaluable insight such as:Who your most profitable customers are (and the customers who have the potential to be more profitable)Advocates of your brand(those customers most likely to make referrals)The high value customers who you let slip
35、 away (who are now spending their money with a competitor)And much more.but straight away youve got a glimpse into your different customer groups and will realise that each of these customer groups need separate strategies.For example,your most profitable customers and advocates need to be recognise
36、d and appropriately rewarded.The customers who havent shopped for a while may need reminding of your brands value proposition or a tailored incentive to return.Offering the same incentive to every customer is counter-intuitive-your loyal customers would most likely purchase from you anyway(at full p
37、rice!)By understanding your customers better,you grow sales whilst dramatically reducing the volume of discounts being offered.You are able to reward the customer with something tailored to them-which will be much more appreciated.Customers are receiving too many messages that simply arent relevant
38、to them.This is such a missed opportunity for us to continue the conversation with our customers to bring them back in store.Were creating messages that we think customers would be interested in,when really they dont care-unless it benefits or impacts them in some way.Its time to stop making assumpt
39、ions.Lets start telling our customers what they want to hear.Lets truly think like a customer and put them at the heart of every decision we make.As Seth Godin once told us“our job,as marketers is to tell a story that resonates with the person we are telling it to.”BRANDS ARE PUSHY IN THEIR MARKETIN
40、G COMMS2524“Our customers typically purchase a new tyre every couple of years.Rather than ignore our customers during this time,we implemented our Bridgestone benefits program to give us a valuable reason to contact our customers-whilst ensuring Bridgestone remained front of mind.”Tom Pitman,Nationa
41、l Marketing Manager,Bridgestone AustraliaOn the flip side,many of us take contact information from our customers and then do absolutely nothing with it.We ghost them-giving them no reason to consider our brand again.Whats scary is that our competitors wont be,theyll be doing everything they can to l
42、ure them away.Meaning they will forget all about us.Its so important that we measure whats working and what isnt,so we can make continuous improvements.This is a very broad statement,we know.From a marketing communications perspective,we need to be really focusing on engagement,not how many of our c
43、ustomers are receiving the comms.Lets stop getting distracted by the wrong KPIs.If we continuously target our customers with the wrong content,theyll get sick of it and unsubscribe,then weve lost the chance to influence a future behaviour and create a customer for life.Thoughts from a CustomologistA
44、sk yourself:1.Do you send more than 75%of your emails to 100%of your email marketing list?2.Is 50%of the content targeted to the relevant interests/next sell/lifecycle state of the individual customer?3.Do you alter your sending frequency for customers who dont open your emails or switch channels?4.
45、Do you use multiple channels to engage the customer at different times?5.Are your messages genuine and consistent?Same,same,but NOT differentSame,same,but NOT different2726Market smarter:Email and beyond Market smarter:Email and beyond48%of customers believe they are being emailed too often.There ar
46、e many additional channels to target the customer which we are not taking full advantage of.Sophisticated brands are leveraging different channels to communicate with their customers at different times(based on their actual behaviour).Email,SMS,Direct Mail,Phone,Push Notifications,Digital Wallet,Fac
47、ebook,Facebook Messenger,Google.the list goes on.Lets look at a few examples of how some of these different channels can be used to influence a behaviour.Almost half of the customers we spoke to believe they are being emailed too often,so unless our message is completely relevant and tailored to the
48、 customer,the chances are its getting deleted.Too often,we just accept this and consider that customer as off-bounds when,in fact,we have so many other opportunities to continue the conversation.As marketers,were often juggling multiple campaigns,but how many of them are truly integrated?Do we know
49、exactly what our customers are seeing and how they are seeing it?Are we truly leveraging omnichannel marketing to keep our customers engaged and influence future behaviours whilst tracking every movement?Running out of your favourite shampoo and conditioner?Can we ask a few questions on how you are
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