“Behavior does not equal success from a consumer’s perspective”
In this presentation, delivered at the eMetrics Marketing Optimization Summit San Francisco 2011, Larry Freed talks about what is wrong with metrics. According to him, one of the main challenges today is that the consumer interacts with companies in a number of channels. The problem is that most metrics today offer a single channel view, misrepresenting the customer experience to analysts.
Larry walks the audience through a few scenarios that illustrate this point, both when it comes to multi channel attribution and to multi channel content distribution. He also shares very insightful stats from a recent research conducted by Foresee Results named Calculating the ROI on Social Media.
Larry presents an example for a content website where two different users have the exact same metrics, but one is happy and the other is frustrated. Analysts should be looking not only at the behavior of users on the website, they should also be looking at how they feel (i.e., whether it was a positive or a negative experience): “Behavior does not equal success from a consumer’s perspective; we cannot watch somebody and see their behavior and know whether it was a successful experience (…) Yet, satisfaction is really an ingredient for success.”
More Videos by Larry Freed
What’s Wrong with Metrics? Part 2: In this part 2 of ‘What’s Wrong with Metrics’, Larry Freed provides a summary of what’s is actually wrong with metrics often used by marketers. He also discusses the differences between feedback and measurement and how we can better satisfy our customers.
Analytics For Multi-Channel & Multi-Device: Larry Freed, President and CEO, ForeSee, discusses the difference in today’s customers, who are multi-channel, multi-device users and have much more control than customers had in the past. Freed emphasizes the need for measuring behavior and connecting a user’s behavior through different channels, but explains that today, the most important measure of success is customer satisfaction.
Larry Freed, President and CEO, ForeSee Results
Larry Freed is President and CEO of ForeSee Results, a leading customer satisfaction management company with solutions based on the American Customer Satisfaction Index (ACSI). With nearly 20 years senior management experience, Mr. Freed has directed numerous e-commerce and technology initiatives. His background also includes 15 years of experience in the banking sector, holding senior level positions with First Chicago NBD and Bank One. An expert on web customer satisfaction, he is a frequent commentator on measuring online customer satisfaction and has been quoted in numerous publications and media, including: The Wall Street Journal, The Washington Post, Internet Retailer, Computerworld, ClickZ, Information Week, Investor’s Business Weekly, CNN, CBS Market Watch, CRM Today, Destination CRM and Federal Computer Week, among others.