LiveRamp Holdings, Inc. · NYSE:RAMP
LiveRamp — Rot R Chicago 2018
37 slides from LiveRamp's conference presentation, Sep 20, 2018
Slide 1: Going beyond Customer Centricity in the Age of Trust
Going beyond Customer Centricity in the Age of Trust Fatemeh Khatibloo, Principal Analyst September 20th, 2018 © 2018 FORRESTER. REPRODUCTION PROHIBITED.
Slide 2: The data explosion has touched every industry
The data explosion has touched every industry © 2018 FORRESTER. REPRODUCTION PROHIBITED. 2
Slide 3: It's created new business & engagement models
It’s created new business & engagement models © 2018 FORRESTER. REPRODUCTION PROHIBITED. 3
Slide 4: It's given rise to the entitled consumer
It’s given rise to the entitled consumer Consumers expect that they can get what they want in their immediate context and moments of need. © 2018 FORRESTER. REPRODUCTION PROHIBITED. 4
Slide 5: But it takes a LOT of data to personalize really well!
But it takes a LOT of data to personalize really well! See the Forrester report “Evolve Now To Personalization 2.0: Individualization” © 2018 FORRESTER. REPRODUCTION PROHIBITED. 5
Slide 6: And most brands can't rely solely on 1st party data
And most brands can’t rely solely on 1st party data © 2018 FORRESTER. REPRODUCTION PROHIBITED. 6
Slide 7: So we look to other sources…
So we look to other sources… © 2018 FORRESTER. REPRODUCTION PROHIBITED. 7
Slide 8: It's important to choose your data wisely
It’s important to choose your data wisely Is it relevant to my business? Can it help me predict customer behavior? Is it actionable in my marketing strategy? © 2018 FORRESTER. REPRODUCTION PROHIBITED. 8
Slide 9: And there's a point of diminishing returns on data
And there’s a point of diminishing returns on data › Content that’s perfectly tailored vs › Content that limits discovery to my interests of new ideas and products › Micro-targeting to reach the vs › Leaving brand awareness and best prospects potential customers on the table › Priming to improve rec
Slide 10: The more data you have and use, the more governance you need
The more data you have and use, the more governance you need For EQ For ethical considerations © 2018 FORRESTER. REPRODUCTION PROHIBITED. 10
Slide 11: The more data you have and use, the more governance you need
The more data you have and use, the more governance you need For the creepy factor For regulatory compliance © 2018 FORRESTER. REPRODUCTION PROHIBITED. 11
Slide 12: But really, what could go wrong?
But really, what could go wrong? © 2018 FORRESTER. REPRODUCTION PROHIBITED. 12
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Slide 17: Perceived misuse of personal data
Perceived misuse of personal data • Most offensive, and most likely to cause the individual to avoid that business in the future Data hygiene errors • Can result in major emotional distress, albeit it inadvertently; causes significant deterioration of trust. Invasive or aggressive tactics • Most fru
Slide 18: These tactics have broken customer trust.
These tactics have broken customer trust. 23% 21% 19% 14% Trust TV Trust Email Trust Social Trust Advertising Marketing Media Posts Online Ads Base: 58,583 US Online Adults Source: Forrester’s North American Consumer Technographics Online Benchmark Survey (Part 1), 2016 © 2018 FORRESTER. REPRODUCTIO
Slide 19: Is it any wonder consumer concerns are growing?
Is it any wonder consumer concerns are growing? 2016 2017 My online/mobile behavior 52% could be tracked 61% My data could be permanently 58% recorded and accessible to 65% anyone I do not understand who could 45% have access to my data 52% Base: 33,471 online adults Source: Consumer Technographics
Slide 20: It's time to rebuild consumer trust
It’s time to rebuild consumer trust © 2018 FORRESTER. REPRODUCTION PROHIBITED. 20
Slide 21: Understand the three drivers of trust
Understand the three drivers of trust © 2018 FORRESTER. REPRODUCTION PROHIBITED. 21
Slide 22: Align trust's role within your brand values
Align trust’s role within your brand values Your Product Your market determines Your the value of Competition trust for your brand Your Customers © 2018 FORRESTER. REPRODUCTION PROHIBITED. 22
Slide 23: Determine your cultural investment in trust
Determine your cultural investment in trust Competitive Disruption Selective Differentiation Competitive Parity The Bare Minimum © 2018 FORRESTER. REPRODUCTION PROHIBITED. 23
Slide 24: So… how do you use all that data to personalize and build customer trust?
So… how do you use all that data to personalize and build customer trust? © 2018 FORRESTER. REPRODUCTION PROHIBITED. 24
Slide 25: People make decisions based on two dimensions
People make decisions based on two dimensions © 2018 FORRESTER. REPRODUCTION PROHIBITED. 25
Slide 26: Decisions create stress.
Decisions create stress. “I feel very stressed, rushed “I wish I didn't feel so bad “I felt hurried and I and under pressure at all about my decision.” wasn't happy that I had quite times to make the best a few choices.” decisions.” “I felt tired, dizzy “I was slightly “In the past I have rushed cho
Slide 27: The real value of personalization is to build trust and make decisions easier
The real value of personalization is to build trust and make those decisions easier Choice Type The Challenge What The Customer Needs Leisure Distinguishing between Recommendations options Important Limited access to data Data and guidance Routine Unconscious response Easy-to-form habits Urgent Unce
Slide 28: Who's doing it well?
Who’s doing it well? © 2018 FORRESTER. REPRODUCTION PROHIBITED. 28
Slide 29: IHG uses weather data to help decide what to pack
IHG uses weather data to help me make important decisions like… “what do I pack?” © 2018 FORRESTER. REPRODUCTION PROHIBITED. 29
Slide 30: UnderArmour built an ecosystem of data to support decisions
UnderArmour built an ecosystem of data to support a variety of decisions, from routine to important © 2018 FORRESTER. REPRODUCTION PROHIBITED. 30
Slide 31: United eases urgent decisions using my preferences
United (I know, I know!) eases urgent decisions by using my preferences during irregular operations © 2018 FORRESTER. REPRODUCTION PROHIBITED. 31
Slide 32: Sephora simplifies leisure decisions and helps make them routine
Sephora simplifies leisure decisions and helps make them routine © 2018 FORRESTER. REPRODUCTION PROHIBITED. 32
Slide 33: Home Depot collects my preferences to reduce decision-making burden
Home Depot collects my preferences to reduce the burden of decision-making © 2018 FORRESTER. REPRODUCTION PROHIBITED. 33
Slide 34: Hyundai reimagined the buyers journey
Hyundai reimagined the buyers journey to ease important and leisure decisions © 2018 FORRESTER. REPRODUCTION PROHIBITED. 34
Slide 35: Patagonia redirected a leisure decision based on values
Patagonia redirected a leisure decision, based on brand & customer values © 2018 FORRESTER. REPRODUCTION PROHIBITED. 35
Slide 36: Five steps to master trustworthy personalization
Five steps to master trustworthy personalization 1. Identify the purpose of personalization for your customers 2. Capture the right data to meet those needs 3. Build the data integration to recognize customers across channels 4. Design journeys and touchpoints that solve customer problems 5. Balance
Slide 37: Thank you
Fatemeh Khatibloo +1 415.294.9007 [email protected] Thank you FORRESTER.COM © 2018 FORRESTER. REPRODUCTION PROHIBITED.