This is the second time I’ve received a personal phone call from my credit card company. And it wasn’t about selling me additional protection coverage. It was about what I had just purchased. Okaaaaayyyyy……..a little bit creepy, or at least that’s what I thought the first time they called.
It reminded me of “1984″ by George Orwell…”Posters of the ruling Party’s leader, “Big Brother“, bearing the caption BIG BROTHER IS WATCHING YOU, dominate the city landscapes, while two-way television (the telescreen) dominates the “private” and public spaces of the populace. ”
This was a few years back when I received my first “credit card” phone call. It went something like this – (paraphrasing and taking great creative liberty):
Credit Card Co: “Hi there, Ms. Gardner. This is your credit card company. Did you know you’ve been making some “suspicious” purchases?
Me: “Suspicious, no. Out of the ordinary, perhaps. Is there something wrong?”
Credit Card Co: “We wanted to make sure the card had not been stolen. Your purchase history indicates this is not a normal buying pattern. Can you confirm some of the recent purchases?”
Now, truth be told, I did go on a “shopping spree” in order to attend a wedding. Dresses, suits, etc. And my most recent experience was around my trip to Montana. So, yes, the purchases were a bit out of the ordinary. (This tells me I need to buy more high-end clothes and go on vacation more often. Note to self…)
As I said earlier – a bit creepy. But then I had to step back and admit – actually, very clever and useful. Had the card actually been lost or stolen, their actions would have prevented me from being charged for things I hadn’t truly purchased. It dawned on me just how much information they actually had on me and my lifestyle. Wow!
Ultimately, I applauded them for having a sophisticated enough system to trigger alarms to take action on my behalf.
Take a look at Harrah’s, working with IBM, to see how they redefined their customer’s experience using the same type of in depth purchasing history:
Redefining the Customer Experience
Harrah’s is focused on building loyalty and value with its customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence, and technology leadership.
The Challenge
In the highly competitive gaming market, the need to attract and retain customers is critical to business success, as customer loyalty and satisfaction can make or break a company. Customer data is collected via the Harrah’s Total Rewards Card, which records guest activities, from restaurants to gaming tables, and delivers rewards and customer incentives. The challenge was to understand, analyze, and leverage that raw data to maximize the lifetime value of the customer.
The Solution
With Teradata as its single enterprise data warehouse, Harrah’s expanded its use of IBM Cognos business intelligence software to drill further and deeper into customer data.
The company can now segment customers into numerous profiles and use this segmentation data to develop targeted campaigns to drive desired customer behavior. For example, Harrah’s might reach out to customers who haven’t visited in more than six months and offer an incentive to bring them back to their favorite property. Or it might promote a new game that is a known affinity to the customer’s favorite gaming choice. In addition, with the detailed reporting and analysis capabilities of IBM Cognos business intelligence solutions, Harrah’s is also able to measure the effectiveness of these new campaigns against control groups.
Results
The total solution resulted in smarter, more focused communication with customers and the ability to maximize each customer relationship. “With Cognos, we are able to evaluate how well we are satisfying guest requests and provide the right kind of predictive recommendations for the customer experience,” states Tim Stanley, SVP Innovation, Gaming & Technology and CIO at Harrah’s. Since the deployment of the system, customers’ discretionary spending with Harrah’s versus its competitors jumped from 30 percent to nearly 50 percent more.
(http://www-01.ibm.com/software/success/cssdb.nsf/CS/LWIS-7PNLEC?OpenDocument&Site=default&cty=en_us)
I call that, Simply Great Customer Service….What have you experienced?
M
Posted under Business & Process Innovation, Customers, General, Shareholder Value, Value Proposition