The EX Squared Solutions Blog

Web Analytics: Turning Data into Products/Profits

Posted by Lisa Carolan on Thu, Jul 14, 2016 @ 18:07 PM

Companies are drowning in data. As of 2011, IDC reported that big-data creation and replication would reach almost 1.8 trillion gigabytes.

That number could easily double every year; data is coming in from the Web, smartphones, inbound and outbound marketing, customer emails, opt-in programs such as loyalty programs, in-store transactions, and a variety of other touch points.

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Topics: Big Data, Web Analytics

How Mobile Acts as a Catalyst in Digital Transformation

Posted by Lisa Carolan on Tue, Jul 5, 2016 @ 08:07 AM

In the last three decades, there have been many disruptive technologies that have changed how businesses operate. It is difficult for many people to understand, for example, how companies once conducted business without websites, email or personal computers. Today, some people marvel that a company does not use Skype, cloud computing or social media. Of all the innovative technologies that have appeared in recent years, however, mobile has certainly proven to be among the most disruptive.

 

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Topics: mobile analytics

Are you driving customer engagement through CRM gamification?

Posted by Lisa Carolan on Fri, Jul 1, 2016 @ 08:07 AM

Marketers have known for years that an engaged customer tends to be a loyal customer. Loyal customers are more likely to make return visits, and their average purchases tend to be higher than the purchases made by first-time buyers. The most common method used by companies to encourage customer loyalty is to buy it through reward points, members-only sales or other financial incentives. While such loyalty programs worked for many retailers in the past, today's customers want more.

 

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Topics: CRM Gamification

Digital Technology vs. Digital Strategy: What is worth paying more attention to?

Posted by Lisa Carolan on Tue, Jun 28, 2016 @ 08:06 AM

When making the move to a digital enterprise, many businesses find themselves wondering whether they need to focus more on digital technology or the development of a digital strategy. A few companies even believe that technology alone is sufficient; if they can dazzle their customers with all of the latest technological advances, the strategy will take care of itself. Other companies find themselves so involved with developing a strategy that by the time that they are ready to implement a plan, the chosen technologies have been usurped by innovative methods.

 

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Topics: Digital Transformation

Just Being Data-Driven Is Not Good Enough!

Posted by Lisa Carolan on Fri, Jun 24, 2016 @ 08:06 AM

Companies today amass more data than ever before, and a digital transformation tends to increase the amount of data collected. Due in part to the volume of data that most companies have accumulated, marketers are urged to be more data-driven if they want to achieve the best results for their efforts. However, many businesses do not realize that it is no longer enough to be data-driven. Databases are not adequate substitutes for truly knowing your customers.

 

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Topics: Knowledge Management

Data Driven Experiential Marketing Leads to Customer Advocacy

Posted by Lisa Carolan on Wed, Jun 22, 2016 @ 19:06 PM

Consumers are subjected to a steady barrage of marketing messages every day. Whenever they perform an online search, visit their social page, read a magazine, drive to work or watch a television program, they are exposed to advertisements competing for their attention.

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Topics: customer engagement, customer engagement metrics, experiential marketing

How Retailers Can Leverage Technology to Regain Margins

Posted by Lisa Carolan on Fri, May 13, 2016 @ 08:05 AM

In today's economy, retailers are being forced to trim margins to battle a marketplace of global competition, slow growth, increasingly demanding customers and rising costs. Many retailers have reduced their margins to a single-digit percentage, and most are struggling to find ways to reduce costs and operate more efficiently.

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Topics: kiosk user experience, Technology Strategy Consulting

Bed Bath & Beyond: Investment in Technology Pays Handsome Rewards

Posted by Lisa Carolan on Tue, May 10, 2016 @ 08:05 AM

Steven Temares, CEO of the retail chain Bed Bath & Beyond, recently discussed the company's technology-investment strategy and the transition to a digital enterprise.

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Topics: Digital Enterprise

How Really Knowing Your Customers Can Drive Sales

Posted by Lisa Carolan on Fri, May 6, 2016 @ 08:05 AM

Five or six decades ago, shopping was a radically different experience for most people. It was common for a person to walk into a store, be greeted by name, and have the proprietor recommend new products that he believed the customer would like. The proprietor often knew the names and ages of other family members and their preferences as well.

Through the years, shopping has become much more impersonal. Chain stores replaced mom-and-pop retailers. Store personnel changed shifts or locations frequently. The size of stores expanded as well as the number of products. Staffs were often kept to a minimum, making it difficult for customers to receive any attention much less warm, personal attention.

Online shoppers have never fared much better. They often find they must navigate through multiple pages to find the item they want. Unless they bookmark the page, the entire process may have to be repeated if the purchase is postponed.

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Topics: Digital Enterprise, Digital Transformation

Technology is not the Biggest Stumbling Block for Digital Transformations — Mindsets Are

Posted by Lisa Carolan on Tue, May 3, 2016 @ 19:05 PM

Digital_Transformation_2.jpgA quote attributed to Albert Einstein defines insanity as repeatedly doing the same thing the same way but expecting different results. Another quote for which Einstein is credited warns that the same thinking that led to the creation of problems will not be effective for solving them. Whether Einstein actually said these statements is immaterial. What matters is that there is a great deal of truth in both statements.

Blockbuster, Kodak and Borders are just a few once-major corporations that failed to adapt to the digital age. Many others are no longer the power-players that they once were, such as Motorola, Blackberry, Sears and JC Penney. Other organizations failed to leverage technology to understand who their customers were and what they truly wanted. 

Today, businesses must adapt if they are to survive. This means leveraging technology to provide the maximum benefits, but technology alone will not solve the problems. Human intervention is required for a digital transformation — and therein lies the problem for many companies.

Change starts in the C-suite. It is the upper levels of management who determine the methods that the company will use to compete. Their support can also make the difference between successful adaptations and failed attempts. The initiative needs to be company-wide, requiring all executives to cooperate for the greater good. Old mindsets, such as claiming exclusive control over technology decisions or databases, have to be replaced by a better understanding of how every piece of the puzzle affects the customer.

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Topics: Digital Enterprise, Digital Transformation

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