Building Scalable Customer Experience in Today’s D2C Economy

1. Media and Entertainment WHITEPAPER Building Scalable Customer Experience in today’s Direct to Consumer Economy 80% organizations highlighted metadata enrichment result into 50% growth in customer engagement rates.

2. Building Scalable Customer Experience in today’s Direct to Consumer Economy Overview Over 63% of consumer-facing organizations are looking to build digital storefronts through direct to consumer (D2C) model as per the Infosys BPM podcast released in June 2021. This is because there has been a humongous rise of customer experience in D2C economy during COVID-19, due to change in customer preference and ease of purchasing products online. However, customers are expecting more in terms of overall experience, for example 64% customers wish brands would respond faster to meet their changing needs. This is gradually creating pressure on brands to invest in providing greater experience and compete in an increasingly crowded market. Brands are creating volumes of increasingly diverse data sets through their multiple processes, but they are struggling to use it due to isolated nature of various datasets. As a result, they are unable to create a 360-degree view of key messages, calls to action and granular details about engagement to enhance their customer experience. There are delays in generating actionable insights due to lack of standardization and data insufficiency. The value of data is enhanced primarily through its relationship and influence on other data. The best way to bring order to this chaos is through metadata enrichment, which essentially acts as a tag describing the contents of files, documents, and other pieces of information so they can be more easily discovered by database queries. Customer experience at its heart is a human endeavor, but only the right technology at the right time can move the dial on CX efforts. During COVID-19 senior business leaders have realized delivering exceptional customer experience is no longer a “nice to have” but a “must have” to grow their businesses and thrive in an increasingly competitive market. A survey done by one of the cloud solution provider suggests that “application-driven and data-driven customer experience” is priority for almost half of organizations (48%). 2

3. Building Scalable Customer Experience in today’s Direct to Consumer Economy Not In favor of Technology blended CX program In favor of Technology blended CX program 60% 60% 55% 40% 34% 40% 53% 23% 22% 49% 20% 20% 0% 0% CEOs CIOs CTOs CFOs COOs CMOs Source: Rackspace survey However, it also highlights mixed perception of senior management in considering technology as a way to achieving visionary customer experience goals. Senior leaders cited Combatting organizational Data Silos and Outdated CX Analytics tools as the two key challenges in building scalable CX proposition. According to Omdia survey, 61% companies can’t engage with customers across channels in personalized ways due to lack of data efficiency and 36% companies do not have access to customer insights and overall customer journey data. Therefore, metadata technology is creating relationships and rules to manage data flow, analysis, and stimulation in customer engagement systems to solve the data-driven challenges. Removing data inefficiencies and data silos through Metadata enrichment will create intriguing customer engagement. Metadata helps organizations to better understand the types of CX data and analyze them to generate actionable CX insights. For example, Amazon collects over 2000 historical and real-time data points for every order, to analyze. This changes the product prices every day to stay in sync with customer expectations. According to McKinsey, companies using data-driven insights to make decisions are 23X more likely to acquire customers and 19X more likely to be profitable. Metadata value proposition in the CX landscape: • Helps in creating a 360 degree customer landscape. • Provides better customer insights and improves analysis process by synchornising the customer feedback from multiple data collection platforms. Simplifies Customer feedback analysis • Organizations that can leverage their data assets effectively are more likely to outperform their competitors. Competitive Advantage Increase in ROI • By achieving greater engagement, interest, and conversion. • Helps to arrive at accurate inferences for decision making. Increases Reachability • Creates comprehensive and digestible product information, which act as an inetgral part of buying decision. • Influence SEO page rankings, increasing customers probabolity of arriving on website for helpful results. 3

4. Building Scalable Customer Experience in today’s Direct to Consumer Economy A few enterprise examples enriching Metadata management to reduce business challenges: Vendor Name Enterprise Name Enterprise Industry Challenge Faced Solution Provided Monte Carlo has very limited customer focus by LinkedIn’s native targeting. They needed to get fit their criteria and advertise the right content at the right time. Monte Carlo used Metadata to create new custom audiences and exclusion lists while staying focused on their strict ICP. Metadata.io Monte Carlo Retail The bank wants to become a data-driven organization and needed to modernize their data platforms to improve their customer experience as they faced challenges in navigating through business data. NTT implemented a metadata management system to provide visibility of their core business data. The bank now can leverage the data asset to drive data utilization that allows them to improve customer experience and satisfaction. PT Bank Central Asia NTT BFSI Lumoa provided top-level customer sentiment score from data gathered from different touchpoints, which increased the conversion rate on Watchshop’s website and e-commerce platform by 10% Watchshop wanted to know customer sentiment and how that would impact overall customer satisfaction though the feedbacks given. Lumoa Watchshop Retail 3SS provided a co-created UX to deliver a personalized and user- centric entertainment experience. It also provided ability to track engagement KPIs, content intelligence metrics, and automated metadata enrichment for multiple languages. TELUS needed a platform that could provide a viewer-centric, customized user experience, and flexibility to scale when needed 3SS TELUS Telecom Metadata technology is gaining importance in the overall organization’s data strategy, as they are stiving to be data- driven, with better and faster analytics, without sacrificing governance. One good reason is that organizations do not want to get lost within billions of tables and data collected. Enterprises consider metadata as a means to optimize their existing data resources, prevent redundant spending on data assets that the organization may already possess, and also enhance the monetization of their data, which makes cost savings another compelling reason for using metadata. 4

5. Building Scalable Customer Experience in today’s Direct to Consumer Economy About the Authors Tandra Das • Corporate Research Analyst Tandra is a market research professional with over seven years of experience in the ICT and telecom sectors. She is highly skilled in conducting comprehensive secondary research to derive valuable business and strategic insights. Tandra has worked with various market research and consulting organizations where she worked on industry reports, analyzed company profiles, industry assessment and benchmarking activities. Harshit Rathore • Senior Research Analyst (Primary Research) Harshit is a market research professional with more than six and half years of experience in Technology, BFSI, E-commerce and FMCG. He is proficient in conducting primary research studies, specializes in conducting CSAT/NPS surveys. Strong capabilities in client servicing, data analysis, consumer insights and project management. Harshit has worked with various customized market research organizations, where he worked on CSAT trackers, product tests, brand health studies, campaign evaluation and max diff studies. Disclaimer This document makes descriptive reference to trademarks that may be owned by others. The use of such trademarks herein is not an assertion of ownership of such trademarks by SG Analytics (SGA) and is not intended to represent or get commercially benefited from it or imply the existence of an association between SGA and the lawful owners of such trademarks. Information regarding third-party products, services, and organizations was obtained from publicly available sources, and SGA cannot confirm the accuracy or reliability of such sources or information. Its inclusion does not imply an endorsement by or of any third party. Copyright © 2023 SG Analytics Pvt. Ltd. www.sganalytics.com GET IN TOUCH Pune | Hyderabad | Bengaluru | London | Zurich | New York | San Francisco | Toronto | Amsterdam 5