Customer experience (CX) - from Theory to Code

Transforming Customer Experience with Psychology, Marketing Science, Big Data and Machine Learning
1) Case study: Customer Experience (CX) in Retail 4.0
2) Introducing the Customer Experience Theory
3) The architecture of CX Platform
4) Should we build a CX Platform or buy ?

Transcript

1. Customer Experience (CX) from Theory to Code Transforming Customer Experience with Marketing Science, Big Data and A.I
2. About myself • Currently working at Tiki.vn as Senior Software Engineer • Started BigDataVietnam.org as Knowledge Hub since 2014 • Former Head of Platform at Blueseed Digital • Former Lead Software Engineer at FPT Telecom Details at https://www.linkedin.com/in/tantrieuf31 2
3. AGENDA Case study: Customer Experience (CX) in Retail 4.0 How Amazon could build great CX platform for e-commerce Introducing the Customer Experience Theory When psychology, marketing and technology can be unified as one concept The architecture of CX Platform Data Analytics, Predictive Analytics, Personalization Engine, CJ Analytics and Cost Optimization Should we build a CX Platform or buy ? 1. 2. 3. 4. 3
4. AGENDA Case study: Customer Experience (CX) in Retail 4.0 How Amazon could build great CX platform for e-commerce Introducing the Customer Experience Theory When psychology, marketing and technology can be unified as one concept The architecture of CX Platform Data Analytics, Predictive Analytics, Personalization Engine, CJ Analytics and Cost Optimization Should we build a CX Platform or buy ? 1. 2. 3. 4. 4
5. Case Study in Amazon How Amazon optimized profit model with Customer Experience ? Key of profit 5
6. pioneered CX implementation in E-Commerce Amazon started developing their CX Platform from the beginning. Source: https://www.quora.com/What-is-the-best-customer-data-platform https://www.bigdatavietnam.org/2019/09/how-to-build-personalized-news.html 6
7. Amazon is the Unified Commerce Platform 7
8. The CX Strategy of Amazon is built on Omni-Channel Source: https://www.researchgate.net/publication/318305200_Understanding_the_customer_experience_in_the_age_of_omni-channel_shopping 8
9. The Omnichannel Purchase Journey https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/consumer-business/unlocking-the-power-of-the-connected-consumer.pdf 9
10. Amazon Go Stores: from Online to Offline for Retail 4.0 10
11. Customer Experience Model at Amazon.com 11
12. The profit model of Amazon 12
13. How Amazon built such great Customer Experience with CDP Programmatic Ad Tech Metric: Total Lead Branding and Usability Metric: Total Order Search Engine Optimization Metric: Keyword Ranking Social Media + Affiliate Network Metric: User Engagement 13
14. The Virtuous Cycle, as drawn by Amazon 14
15. AGENDA Case study: Customer Experience (CX) in Retail 4.0 How Amazon could build great CX platform for e-commerce Introducing the Customer Experience Theory When psychology, marketing and technology can be unified in one concept The architecture of CX Platform Data Analytics, Predictive Analytics, Personalization Engine, CJ Analytics and Cost Optimization Should we build a CX Platform or buy ? 1. 2. 3. 4. 15
16. Customer Journey Context From Psychology to Customer Experience and Action Behavior Action Behavior Data (Story) Customer Experience 16
17. https://www.researchgate.net/figure/Action-based-behavior-model_fig4_51621526 Action-based Behavior Model can reinforce Customer Experience 17
18. Customer Experience can be reinforced with social media 18
19. Experience is the integration of emotional data in customer journey 19
20. Happiness is the integration of experience data in your life (Hạnh phúc là phương trình tích phân của toàn bộ dữ liệu bạn đã trải nghiệm trong cuộc đời) 20
21. Experience Analytics: feel customer's pain to make better product 21
22. Source: https://www.futuristgerd.com/2019/04/the-experience-economy-is-booming-but-it-must-benefit-everyone/ 22
25. https://www.weforum.org/agenda/2019/01/the-experience-economy-is-booming-but-it-must-benefit-everyone/ 25
26. CX Platform is the solution for data-driven company in the age of Industry 4.0 Source: https://www.amazon.com/Predictive-Marketing-Marketer-Customer-Analytics/dp/1119037360 Industry 4.0 26
27. Brand of Platform (e.g: Amazon) vs Customer Experience (e.g: price, delivery) 27
28. Customer Journey Analysis, Customer Need Analysis & Digital Marketing Analytics are the top requirements from business Source: Gartner Investment in customer analytics (Q04,Q05) exclude unsure, n=142 Question: “Thinking about your organization’s customer analytics priorities, which will be the focus in 2018?” Multiple responses allowed 28
29. Social Media, Retail 4.0 & Gig Economy empower customers Customer Experience (CX) Strategy KEY TREND Social Media Gig Economy Customer-centric Business Model 29 Retail 4.0
30. https://www.youtube.com/watch?v=JoE2GUDtzps Book to understand Customer Experience Theory 30
32. Digital Transformation should begin with Customer Experience 32
33. Book to understand Customer Experience Theory • https://tiki.vn/tu-duy-nhanh-va-cham-tai-ban-2019-p912264.html • https://www.ted.com/talks/daniel_kahneman_the_riddle_of_experience_vs_memory 33
34. AGENDA Case study: Customer Experience (CX) in Retail 4.0 How Amazon could build great CX platform for e-commerce Introducing the Customer Experience Theory When psychology, marketing and technology can be unified as one concept The architecture of CX Platform Data Analytics, Predictive Analytics, Personalization Engine, CJ Analytics and Cost Optimization Should we build a CX Platform or buy ? 1. 2. 3. 4. 34
37. https://hbr.org/video/2235625008001/a-better-way-to-measure-your-ad-campaign Processes in general CX Platform 1. Collect data from touchpoints 2. Build customer attribution 3. Optimize CX Model 4. Marketing Budget Allocation 5. Build A/B testing models 6. Measure Customer Response 7. Improve Business outcomes 37
38. 3 key problems to build CX Platform 38 1. Unify Customer Data into single-view of database (ID Graph) 2. Build Customer Experience Data Pipeline (Interest Graph) 3. Apply Machine Learning & AI Technology (Cognition Graph)
39. First problem: Unify Customer Experience Data into single-view (database) 39
40. Second problem: Build Customer Experience Data Pipeline 40
41. Third problem: Apply Machine Learning Technology 41
42. Details: https://bit.ly/bdvn-uspa-intro 42
43. With CX Platform, Sales Activation could be simpler 43
44. Let’s code: Customer Insight Analytics with ArangoDB and Python 44
45. Sentiment Analysis can help company understand customer 45
46. Case study: Customer Analytics from social media with ArangoDB 46
47. Sentiment Analysis in Vietnamese with Python Source: https://github.com/undertheseanlp/underthesea#6-text-classification 47
48. Example problem: Classify social media data into 3 segments 48
49. User Story 1. You need to do social media analytics to find key trends 2. You develop a social media crawler to crawl public data from FaceBook API 3. After crawling, you have 988 records in the collection “fb_feeds” Key task: classify all data feeds into 3 segments to understand user experience 1. High value: top trending feeds that have more than 1000 LIKES 2. At risk: top feed with users that have any ANGRY reaction 3. Sell opportunity: top feed with users that have LOVE reaction 49
50. High value: top trending feeds that have more than 1000 likes 50
51. At risk: top feed with users that have any ANGRY reaction 51
52. Sell opportunity: top feed with users that have LOVE reaction 52
53. AGENDA Case study: Customer Experience (CX) in Retail 4.0 How Amazon could build great CX platform for e-commerce Introducing the Customer Experience Theory When psychology, marketing and technology can be unified as one concept The architecture of CX Platform Data Analytics, Predictive Analytics, Personalization Engine, CJ Analytics and Cost Optimization Should we build a CX Platform or buy ? 1. 2. 3. 4. 53
54. Should we build or buy a CX Platform ? 54
55. Should we build or buy ? Build when you have ... Buy when you have ... • Data Analysts and Data Scientists in-house • Strong data engineering team with availability • Pieces of CJA solution already in place • No data scientists in-house • Data engineering team lacking or stretched thin • Lack of customer analytics tools 55
56. Solutions Build Define Customer Journey Map and CX metrics Integration and collecting data from omni-channel Build a strong tech team (engineer and data scientist) Open Knowledge about CDP and CX Platform https://www.bigdatavietnam.org/search/label/Customer%20Data%20Pl atform Buy Need a fast solution for your problem For product support 24/7 For scalability and the quality of predictive marketing analytics • https://www.adobe.com/experience-cloud/customer-ex perience-management.html • http://www.netscoretech.com • https://www.resulticks.com • https://www.agilone.com • https://exponea.com • https://www.blueconic.com • https://tealium.com 56
57. Key takeaway 57
58. How to enhance the profit of your business with CX Platform ? 1. Optimizing media touchpoints (Relevance) using Personalization Analytics & A/B Testing 2. Improving customer experience (CX) using Customer Insight Analytics & Product Analytics 3. Improving customer retention (Loyalty Loop) using Predictive Analytics & Uplift Modeling 4. Maximizing customer lifetime value (CLV) using Customer Analytics & Product Innovation 5. Reducing customer acquisition cost (CAC) using Marketing Analytics & Ad Tech Fx{Customer Experience, Relevance, Retention} + CLV - CAC Fx is the force of a true customer (active as KOL with social media) can co-create value for your business growth 58
59. 3 key problems to build CX Platform 1. Unify Customer Data into single-view of database (ID Graph) 2. Build Customer Experience Data Pipeline (Interest Graph) 3. Apply Machine Learning & AI Technology (Cognition Graph) 59
60. Details: https://bit.ly/bdvn-uspa-intro 60
61. https://www.bigdatavietnam.org/p/about.html 61
62. Recommended books https://www.cambridgescholars.c om/customer-centricity https://connected-strategy.com https://connected-strategy.com/wp- content/uploads/2019/03/Fitness-G yms.pdf https://www.agilone.com/predictive-marketing-book Customer-Centricity Connected Strategy Customer Data Platform 62
63. Ref links in this slide • https://www.futuristgerd.com/2019/04/the-experience-economy-is-booming-but-it-must-benefit-everyone/ • https://hbr.org/1998/07/welcome-to-the-experience-economy • https://hbr.org/1998/07/welcome-to-the-experience-economy • https://www.ted.com/talks/daniel_kahneman_the_riddle_of_experience_vs_memory • http://rejoiner.com/resources/amazon-shopping-cart-experience/ • https://fourweekmba.com/amazon-leadership-principles/ • https://thefinancialbrand.com/70509/banking-customer-experience-cx-lessons-amazon/ • https://uxplanet.org/how-to-run-a-customer-experience-design-workshop-in-your-organization-f70af760ac89 • https://modus.medium.com/the-key-to-a-better-customer-experience-strategy-674a6f712f55 • https://uxdesign.cc/how-uber-uses-psychology-to-perfect-their-customer-experience-d6c440285029 • https://uxdesign.cc/brand-experience-greater-than-the-sum-of-its-touchpoints-a773119fd93a • https://mkto.eventbrite.com/rs/269-CEG-133/images/DS01_Millenials%20Fueling%20the%20Experience%20Economy.pdf • https://medium.com/@daverothschild/use-this-simple-psychology-rule-to-improve-your-customer-experience-41aa4f3f2124 • https://uxplanet.org/why-understanding-customer-experience-makes-you-a-great-ux-designer-73b99c95fb6d • https://uxplanet.org/how-to-run-a-customer-experience-design-workshop-in-your-organization-f70af760ac89 • https://modus.medium.com/the-key-to-a-better-customer-experience-strategy-674a6f712f55 63
64. Thank you! https://BigDataVietnam.org facebook.com/bigdatavn tantrieuf31@gmail.com 64