Putting the Customer at the Centre of a Personalised Experience
Media and entertainment companies have a golden opportunity to truly understand their customers and create digital products and services to match their tastes and preferences. Some industry experts, such as Myles Davidson from Inviqa, call this the “paid to pivot” strategy, and it can be lucrative when done right. According to PwC, customers would pay up to 16 percent more for a better customer experience since they feel today’s businesses lack the human touch. But to meet their expectations for a better experience, you have to think of personalisation as a holistic approach that digitally transforms your business from the inside out rather than something extra you tack onto your existing business model.
Your future success lies in answering this question: “How do you turn the brand into a community?” Sports clubs are responding to this challenge by putting the fan at the centre of everything they do. This requires creating a single view of the fan and building out a 1:1 relationship with each fan at every single touchpoint of their journey. In doing so, these sports teams are demonstrating that they know their fan, what they want and need, and that they care about providing the experiences that matter to them.
Personalised fan experiences should be very context-aware, as well. For example, what the fan needs and expects may change from moment to moment depending on whether it’s just before a match, during the match, or just sitting at home streaming the content. The sports club should provide a relevant, personalised experience to this fan throughout their entire journey with that brand community, from start to finish.
What makes this possible? A single view of the fan. This can be tricky to accomplish, however, when there are so many different touchpoints involved. You have to coordinate data sources ranging from Twitter to branded streaming services and everything in between. A Manchester United supporter might be tweeting about a match in progress as they’re watching it on their paid subscription to Manchester United TV, for example, and you need to capture all of that information in order to serve them the right content in real time.
To gain a single view of each fan, you must collect and centralise all of that data, understand it, use it to build fan profiles, then augment it to make it more actionable. Then you will be in the best position possible to serve up the right personalised content at the right time – which makes all the difference in keeping your fans engaged and focused on your brand community.
In a dynamic and intensely competitive market experiencing strong revenue pressures, your best path to increasing customer satisfaction and engagement is through personalisation – the human touch. And if you put the customer at the centre of everything you do, you will reap the rewards in the form of increased customer loyalty and revenue.
Digital transformation has changed the game for media and entertainment businesses, who are now under incredible pressure to create new revenue streams and monetise content.
Customers now expect to be able to experience the content they want, when they want it, on their platforms of choice – and they expect this experience to be personalised.
Media and entertainment companies know that they must monetise content and create new revenue streams in order to stay competitive in the new marketplace.
To succeed, they must put the customer at the absolute centre of everything they do, providing a personalised experience that speaks to their unique needs at each stage of the customer journey.
Sports entertainment businesses in particular are doing this by re-envisioning their brand as a community around which every experience they offer is centred.
People don’t consume media, entertainment, and publishing content the way they used to. Download the free eBook, "Creating Customer Experiences in Media, Entertainment and Publishing," to learn how to meet customer expectations in these areas.