Sustaining digital leadership

Creating a virtuous circle of customer engagement

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Smart mobility, social networking, cloud computing and big data analytics together are revolutionizing the relationship between media and entertainment (M&E) companies and their customers.

These transformative technologies let both B2B and B2C M&E companies capture unprecedented insights into their customers and engage with them in new ways. The customer relationship is no longer a one-way street, or even a two-way street: it is evolving into a virtuous circle of customer engagement and innovation.

Today, leading M&E companies connect with customers, listen to their feedback, adapt or expand their offerings and engage anew — starting the process all over again.

The opportunities these four transformative technologies make possible is giving rise to many new kinds of competitors and, therefore, an increasingly crowded M&E landscape. That raises the pressure on M&E companies to make advantageous use of the technologies to create “radically intimate,” direct customer relationships — because if you don’t do it, someone else will.

“Cloud technology is doing even more than instilling M&E companies’ infrastructure with greater flexibility and speed at lower cost. It’s changing the way consumers think about ‘owning’ media.”

Alex Bender
West Region Technology Industry Leader
EY

“Digital technologies enable far more direct customer interactions than ever before, leading to new opportunities to build trusted relationships — the ‘DNA’ of successful companies. Leading companies see every customer interaction as an opportunity to build trust.”

Howard Bass
Global Media & Entertainment
Advisory Services Leader
EY

Virtuous circle of customer engagement

EY - chart Virtuous circle of customer engagement

 

Key strategy highlights

  • Establish “radical intimacy” with your customers, based on trusted, direct relationships and 360-degree profiles of their “anytime/ anywhere” preferences and behaviors — whether mobile, social, online, at home, in theaters or at work.
  • Set in motion a virtuous circle of customer engagement and innovation to rapidly connect with B2B or B2C customers, listen to them, adapt or expand your offerings based on customer input, and re-engage. Recognize this is a journey, especially for companies starting without trusted customer relationships.
  • Build up the skills, tools and agility to analyze accurately and act rapidly on a growing mountain of customer data.
  • Share customer data and analysis across the organization, with dashboards and other tools delivering the right information to the right people in real time.
  • Make data-driven customer response your driver of innovation.
  • Use your customers’ preferences and behavior as your blueprint for curating new content and service distribution back into their personalized digital spheres — balancing direct and indirect channels.
  • Do it again from the top, as new interactions with trusted B2B or B2C customers generate new data and insights.