New York: Blue-blooded global strategy consultancy Booz & Company has formed an improbable partnership with digital market research group Bazaarvoice to try to unlock digital insights for global brands.
The firms say their new alliance will help client companies leverage social data and assets for business advantage.
Bazaarvoice and Booz & Company say their partnership will help companies develop "stronger capabilities for customer centricity — or putting customers at the centre of business strategy — by capitalizing on the wealth of digital information being created by and about their customers."
The two companies are "combining their global expertise across industries to help clients prioritize opportunities and implement best practices for advertising, promotions, product innovation, and customer experience across Web, mobile, and social channels."
To gauge how well companies are using and learning from digital data, Bazaarvoice and Booz & Company have launched the Digital Customer Centricity Profiler.
The Profiler will help companies pinpoint the digital capabilities of their organizations compared with those of leaders in their market and in other industries, combining Booz & Company's strategy and capability building expertise with the social insights derived from the 330 billion customer conversations served from the Bazaarvoice social platform. Using the results, the two firms will help companies identify opportunities to strengthen their digital programs and capabilities, including ways to:
- Follow the customer journey from pre-engagement to post-purchase to understand how different customers interact with their brand
- Engage customers across multiple channels and platforms, generate deep insights, and use the data to improve marketing, sales, customer service, product development, and other business functions
- Integrate multiple data sources and continuously refine segmentation approaches to identify — and serve — the customer segments that truly matter
- Turn data and content into digital assets that generate return on investment (ROI)
The profiler, a free, 10-minute survey, is available now at www.BeaDigitalLeader.com. Upon completion, participants will learn their overall score and can sign up to receive a copy of the key findings this autumn.
"Social data is a gold mine being used by companies to increase sales, improve customer service, and enhance brand reputation, among many other benefits. The brands who are customer-centric will be the survivors. There is tremendous urgency at every level of business to get this right, and the combination of our social data expertise with Booz & Company's global business strategy and capability building expertise will help companies navigate the changing digital landscape for business success," said Erin Mulligan Nelson, CMO, Bazaarvoice.
Matthew Egol, partner in Booz & Company's global Communications, Media & Technology practice, commented, "The fundamental task of marketing today is managing the connections among consumers and between consumers and brands — at every scale from individual contact to millions of people.
"The social nature of brands requires marketers to engage consumers in more relevant and authentic ways across their path to purchase, to build branded experiences and drive brand advocacy. This can occur only when marketers tap into social data for deeper insights that enable them to make sense of feedback, respond effectively, and ultimately understand consumers' emotional experience with their brand.
"Bazaarvoice brings a world of data and expertise that can serve as a valuable ingredient in the recipe for success in building out these new capabilities for digital customer centricity."
The Digital Customer Centricity Profiler is available immediately here.