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Marketing and Analytics as a service; how Accenture helped a large insurance company

In the wake of the recent recession, consumer behavior has changed substantially. Expectations of customers globally are accelerating: they expect the highest product quality, more value for money and better tailored service. Like stated by my colleague Jort Possel in his previous blog post: “Consumers are connecting in more than one way and on multiple devices, consuming more content, and doing it all on the go”.

With the explosive growth of online, mobile and social media channels, customers choose their interaction channel of preference and demand a seamless multi-channel experience. To sustain high performance and growth through uncertain times, companies will need to work harder and smarter to find and capitalize on growth opportunities and to provide a great customer experience.

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Customer Analytics as a driver for growth and high performance

In my last blog post I wrote about the research Accenture did among 400 senior executives responsible for the marketing function at large enterprises. In this research, 65% of the executives mentioned the customer analytics capability as one that is critical to their marketing strategy – more than any other capability. Many were planning to increase investment in the coming years in such areas as customer data management (41%), customer segmentation & insight (41%), and analyzing market and customer trends (38%).

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Research shows marketers are changing their strategy to one of ‘Profitable Growth’

In a recent Accenture research more than 400 marketing executives from companies in the United States, Canada, United Kingdom, Germany, France, Japan, China, India and Australia were asked about their thoughts on the post-recession world regarding customer behavior, their most important business issues, the performance barriers they encounter and their strategic focus.

According to the respondents, the recession has significantly altered the ‘needs & wants’ and overall purchase behavior of consumers. More than ever they expect more value for their money, have higher product quality expectations, are increasingly price-sensitive, have higher customer service expectations and expect that their time constraints are being respected.

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