Trust is the new black

Trust is at the heart of ongoing relationships amongst people, but also with brands and companies. It has become a hot topic (Connelly, 2017, Huffington, 2015), particularly given the increasing media coverage of breakdowns in customer trust in well-known companies such as VW, Tesco, BP and Google. But away from these headlines is a stronger, more underlying trend. A move from transactions to longer term customer relationships. The risk of undermining that relationship through not being transparent, not being fair, not having reliable products and services is exacerbated as our world becomes increasingly technology focused. Relationships with suppliers we don’t know are built through trusted on-line third parties. Information about products and services we are unfamiliar with is increasingly sought from others, on-line, and subsequent feedback on customer experiences shared quickly and widely. Where companies are not transparent, the exponential growth in speed and breadth of news spreading makes them vulnerable. It is impossible to hide. However, to assess our own approach to corporate and brand trust, it helps to go back to the key academic theories to discover the concepts that underpin our understanding of trust, the factors that build trust and the outputs that emerge. In addition, we need to understand our performance on trust in the light of data from an industry and global context but also to support the business case for ensuring it remains a business priority. Examining a few of the high-profile failures in trust also helps us identify the range of areas where trust can be undermined. They provide pieces of a jigsaw that, when seen together, help us understand a broader picture of trust to inform our approach with our businesses and our customers now and in the future

To boardrooms and sustainability: the changing nature of segmentation

Market segmentation is the process by which customers in markets with some heterogeneity are grouped into smaller homogeneous segments of more ‘similar’ customers. A market segment is a group of individuals, groups or organisations sharing similar characteristics and buying behaviour that cause them to have relatively similar needs and purchasing behaviour. Segmentation is not a new concept: for six decades marketers have, in various guises, sought to break-down a market into sub-groups of users, each sharing common needs, buying behavior and marketing requirements. However, this approach to target market strategy development has been rejuvenated in the past few years. Various reasons account for this upsurge in the usage of segmentation, examination of which forms the focus of this white paper. Ready access to data enables faster creation of a segmentation and the testing of propositions to take to market. ‘Big data’ has made the re-thinking of target market segments and value propositions inevitable, desirable, faster and more flexible. The resulting information has presented companies with more topical and consumer-generated insights than ever before. However, many marketers, analytics directors and leadership teams feel over-whelmed by the sheer quantity and immediacy of such data. Analytical prowess in consultants and inside client organisations has benefited from a stepchange, using new heuristics and faster computing power, more topical data and stronger market insights. The approach to segmentation today is much smarter and has stretched well away from the days of limited data explored only with cluster analysis. The coverage and wealth of the solutions are unimaginable when compared to the practices of a few years ago. Then, typically between only six to ten segments were forced into segmentation solutions, so that an organisation could cater for these macro segments operationally as well as understand them intellectually. Now there is the advent of what is commonly recognised as micro segmentation, where the complexity of business operations and customer management requires highly granular thinking. In support of this development, traditional agency/consultancy roles have transitioned into in-house business teams led by data, campaign and business change planners. The challenge has shifted from developing a granular segmentation solution that describes all customers and prospects, into one of enabling an organisation to react to the granularity of the solution, deploying its resources to permit controlled and consistent one-to-one interaction within segments. So whilst the cost of delivering and maintaining the solution has reduced with technology advances, a new set of systems, costs and skills in channel and execution management is required to deliver on this promise. These new capabilities range from rich feature creative and content management solutions, tailored copy design and deployment tools, through to instant messaging middleware solutions that initiate multi-streams of activity in a variety of analytical engines and operational systems. Companies have recruited analytics and insight teams, often headed by senior personnel, such as an Insight Manager or Analytics Director. Indeed, the situations-vacant adverts for such personnel out-weigh posts for brand and marketing managers. Far more companies possess the in-house expertise necessary to help with segmentation analysis. Some organisations are also seeking to monetise one of the most regularly under-used latent business assets… data. Developing the capability and culture to bring data together from all corners of a business, the open market, commercial sources and business partners, is a step-change, often requiring a Chief Data Officer. This emerging role has also driven the professionalism of data exploration, using more varied and sophisticated statistical techniques. CEOs, CFOs and COOs increasingly are the sponsor of segmentation projects as well as the users of the resulting outputs, rather than CMOs. CEOs because recession has forced re-engineering of value propositions and the need to look after core customers; CFOs because segmentation leads to better and more prudent allocation of resources – especially NPD and marketing – around the most important sub-sets of a market; COOs because they need to better look after key customers and improve their satisfaction in service delivery. More and more it is recognised that with a new segmentation comes organisational realignment and change, so most business functions now have an interest in a segmentation project, not only the marketers. Largely as a result of the digital era and the growth of analytics, directors and company leadership teams are becoming used to receiving more extensive market intelligence and quickly updated customer insight, so leading to faster responses to market changes, customer issues, competitor moves and their own performance. This refreshing of insight and a leadership team’s reaction to this intelligence often result in there being more frequent modification of a target market strategy and segmentation decisions. So many projects set up to consider multi-channel strategy and offerings; digital marketing; customer relationship management; brand strategies; new product and service development; the re-thinking of value propositions, and so forth, now routinely commence with a segmentation piece in order to frame the ongoing work. Most organisations have deployed CRM systems and harnessed associated customer data. CRM first requires clarity in segment priorities. The insights from a CRM system help inform the segmentation agenda and steer how they engage with their important customers or prospects. The growth of CRM and its ensuing data have assisted the ongoing deployment of segmentation. One of the biggest changes for segmentation is the extent to which it is now deployed by practitioners in the public and not-for-profit sectors, who are harnessing what is termed social marketing, in order to develop and to execute more shrewdly their targeting, campaigns and messaging. For Marketing per se, the interest in the marketing toolkit from non-profit organisations, has been big news in recent years. At the very heart of the concept of social marketing is the market segmentation process. The extreme rise in the threat to security from global unrest, terrorism and crime has focused the minds of governments, security chiefs and their advisors. As a result, significant resources, intellectual capability, computing and data management have been brought to bear on the problem. The core of this work is the importance of identifying and profiling threats and so mitigating risk. In practice, much of this security and surveillance work harnesses the tools developed for market segmentation and the profiling of different consumer behaviours. This white paper presents the findings from interviews with leading exponents of segmentation and also the insights from a recent study of marketing practitioners relating to their current imperatives and foci. More extensive views of some of these ‘leading lights’ have been sought and are included here in order to showcase the latest developments and to help explain both the ongoing surge of segmentation and the issues under-pinning its practice. The principal trends and developments are thereby presented and discussed in this paper

Library Resources: Procurement, Innovation and Exploitation in a Digital World

The possibilities of the digital future require new models for procurement, innovation and exploitation. Emma Crowley and Chris Spencer describe the skills staff need to deliver resources in hybrid and digital environments. The chapter demonstrates the innovative ways that librarians use to procure and exploit the wealth of resources available in a digital world. They also describe the technological developments that can be adopted to improve workflow processes and they highlight the challenges faced on this fascinating journey

The meanings of ‘organic’ branding in the Russian skincare industry

This paper will discuss the evolution in marketing communications characterised by the emergence of social media and the spread of online communities, as a result of which, consumers have become active co-constructors of brand identity in the market. The present research aims to bring companies’ attention to the process of brand co-construction with their customers, by considering different organic brand perceptions. It will specifically discuss how organic skincare online communities in Russia perceive and understand ‘organic’ branding and it will identify four major groups of members, who authorize, construct, analogize or abandon organic labels. The research will use the netnographic approach and thematic data analysis to examine online forums discourses. It will categorise different label interpretations into groups according to the meanings that online members assign to them

E-Business in Ukraine: Peculiarities, Tendencies, Prospects

Introduction. It is evident that the electronic business plays a central role in the economy development, facilitating the exchange of information, goods, services, and payments. We feel very strongly that entrepreneurs who understand the role and significance of e-business and are ready to meet the sharply expanding scale of cross-border e-commerce will be the winners of tomorrow in the world market. An initial point to underline in connection with these tendencies is that business which does not give some attention to e-business and e-marketing promotion could very easily loose its place on the market. This explains the hyper attention to the e-business nowadays and as a result the necessity of studying this question. The purpose of the article is to study the characteristic features of e-business in Ukraine, to determine the latest tendencies of its development and to propose the certain steps to increase its growth. Results. Recent researches support the view that organizations can have a significant benefit of using e-business tools in their everyday operations. The article examines the benefits, problems and limitations of e-business in Ukraine. It has been distinguished that Ukraine is an attractive market for the development of e-commerce. It has a large potential for e-business and its related activities. In 2018 Ukraine ranked the 2nd place in the turnover growth of online usage among European countries. A major factor stimulating Internet growth is the drastic improvement of the telecommunications infrastructure in the country. Advantages and risks of new electronic marketing techniques were considered in the article. The main strengths of online marketing system are high quality customer service, greater reach, time saving customer loyalty, easy access to information, 24 hours access and personal contact with the customer. Considering the risks, it was admitted that e-marketing requires considerable time investment to get the results and it takes a long time to generate meaningful interactions. Conditions that should be arranged for successful e-business model implementation were determined. It was pointed out that in order to increase the development of e-business in Ukraine that certain steps such as harmonizing of essential laws and standards to the European ones, enhancing the use of web analytics tools, providing an appropriate choice of communication channels and improving administrative regulations regarding e-business procedures should be taken. In this regard, Ukrainian businesses need all the support they can get from policymakers and regulators in order to be able to grow in an increasingly competitive global market. In conclusion, in order to stay effective, to improve operational efficiency, profitability, and to strengthen their competitive position business organizations should definitely adopt e-business model. It is not enough to have high quality products or services to operate successfully in the market; productive introduction of new e-business models is vital in a computerised electronic environment. In this regard, if Ukrainian government wants its companies to fully play their role in a globalized world, it needs to create a harmonized market and a favourable environment where domestic e-business companies can flourish. Prospects for further research can be seen in the analysis of the methods of measuring the effectiveness of different e-business models

Faulty Metrics and the Future of Digital Journalism

This report explores the industry of Internet measurement and its impact on news organizations working online. It investigates this landscape through a combination of documentary research and interviews with measurement companies, trade groups, advertising agencies, media scholars, and journalists from national newspapers, regional papers, and online-only news ventures

Data and Predictive Analytics Use for Logistics and Supply Chain Management

Purpose The purpose of this paper is to explore the social process of Big Data and predictive analytics (BDPA) use for logistics and supply chain management (LSCM), focusing on interactions among technology, human behavior and organizational context that occur at the technology’s post-adoption phases in retail supply chain (RSC) organizations. Design/methodology/approach The authors follow a grounded theory approach for theory building based on interviews with senior managers of 15 organizations positioned across multiple echelons in the RSC. Findings Findings reveal how user involvement shapes BDPA to fit organizational structures and how changes made to the technology retroactively affect its design and institutional properties. Findings also reveal previously unreported aspects of BDPA use for LSCM. These include the presence of temporal and spatial discontinuities in the technology use across RSC organizations. Practical implications This study unveils that it is impossible to design a BDPA technology ready for immediate use. The emergent process framework shows that institutional and social factors require BDPA use specific to the organization, as the technology comes to reflect the properties of the organization and the wider social environment for which its designers originally intended. BDPA is, thus, not easily transferrable among collaborating RSC organizations and requires managerial attention to the institutional context within which its usage takes place. Originality/value The literature describes why organizations will use BDPA but fails to provide adequate insight into how BDPA use occurs. The authors address the “how” and bring a social perspective into a technology-centric area

How data visualization tools can improve decision making processes based on customer satisfaction?

Dissertation presented as the partial requirement for obtaining a Master's degree in Information Management, specialization in Knowledge Management and Business IntelligenceCompanies seek to perform better using their own data to achieve sustainable competitive advantage. By enabling business intelligence tools and techniques companies can get ahead of the competition, however, even with these solutions, some questions still stand which this research aims to answer. This study aims to answer the following research question: how data visualization tools can improve decision making processes based on customer feedback? To fill this gap, this research will explore the literature on data-driven marketing and its relationship with decision making processes, while also diving on data visualization and business analytics. To improve the relevance of the study, a practical approach will also be used, using Business Intelligence tools and techniques, in particular Microsoft Power BI. The research uses real data from a major Portuguese hotel chain and aim to develop a new dashboard that can enhance the capability to improve data-driven marketing decision making, using customer data. The findings show that business intelligence and data visualization tools and techniques allow the development of dashboards with several KPI’s and measures to improve strategic decision-making process, and it allows to still have a quick and objective views of business performance and productivity, exchanging company data in competitive advantages

Business Trends and Tendencies in Organization Design and Work Design Practice: Identifying Cause-and-Effect Relationships

Current global business environment has a strong impact on theory and practice of organizations, as well as on working behavior of their employees. Increased complexity and competitiveness is changing settled ways of organizing and working. The ultimate search for the holy grail of achieving organizational effectiveness through better design solutions is gaining momentum. There are many possible areas and means for improvement. Great opportunities emerge from better understanding of contemporary organizational and work environment. To seize them, the link between organization design and work design tendencies will be emphasized. Through an in-depth theoretical research on current business trends and their impact on the changing nature of work in organizations, potentially very strong patterns between these two different environmental categories and levels of analysis will be identified. By analyzing widespread network of current trends and tendencies in organization design and work design field, useful insights will be provided for business practice, as well as for future scientific research challenges.business trends, organization design, work design, systems approach