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Lending Tree’s new marketing chief says customer experience is king



Lending Tree's new marketing chief says customer experience is king

In January, LendingTree appointed Shiv Singh as their first Chief Marketing and Customer Experience Officer. Singh came to the company from The Expedia Group, where he was SVP and general manager. He’s also served as CMO for medical technology startup Eargo, and has also held high-level positions at Visa, PepsiCo and Razorfish.

CX is sometimes overlooked in marketing, so we were very interested in hearing about Singh’s approach to this new, combined role.

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Congratulations on your recent appointment, and how was the role of chief marketing and customer experience officer created at LendingTree?

Until the start of the pandemic, there was a CMO in place and CX was separate. When that CMO left, the business decided what was the right structure for the future. Doug the founder/CEO believes that a big part of the future of marketing is that it works effectively both in terms of revenue generation and performance on digital channels.

Why is the importance of CX in organizations on par with marketing overall?

We’re looking to make this a lean, mean and incredibly successful marketing team. On top of that, it’s about getting behind the brand more strongly and getting the entire customer experience to work for the brand effectively. We are in an age where, and I blame Google and Apple for this, where we as consumers expect enjoyable and delightful experiences. It’s not just about the transactional value, but having an uplifting experience contributes to us having an affinity for an organization.

Read next: What is customer experience and why does it matter?

In what ways does LendingTree make customer-centricity work for your audience, and how do you communicate that when engaging customers?

LendingTree has an incredible legacy around focusing on the customer. You used to have to physically run from one bank to another to compare rates. There had to be a better way. LendingTree had early success with the message, “When banks compete, you win.” It was about being on the side of Main Street. We have their personal finances and we can guide consumers to what financial products to use – they have someone on their side. The LendingTree business has grown much larger to include business loans, insurance products, solutions for students, but still very rooted in our DNA is that we’re on the side of the consumer, their ultimate advocate in a more complex finance world.

There’s so much noise in the financial services space, and even more broadly in culture. Layer on top of that the most polarized views in the history of our country. As a result of that, people don’t know who or what to trust. When I think about the opportunity at this stage in LendingTree’s history, we’re reminding consumers why we are the best company to be trusted with their finances. Finances are immensely personal, and we inform customers, educate and, in some ways, inspire [with the message that] when you take care of finances well, it’s a positive experience that can even change your view of life. We are reframing the role that personal finances play in our lives. We play to that higher purpose more than other brands.

To get that message out, we are the top display advertiser in the country and a top ten search advertiser. The business works incredibly effectively to acquire new customers and serve them. The team is doing an incredible job, and there’s more to do to push boundaries. I don’t know as much about TikTok as a third of my team. They’re better skilled at living in that world, engaging consumers around their finances. We also have a pretty sophisticated martech stack, whether analytics or our CRM or the adtech infrastructure. We’re constantly evaluating and assessing, with a renewed focus on CX and making all the channels work together.

About The Author

Chris Wood draws on over 15 years of reporting experience as a B2B editor and journalist. At DMN, he served as associate editor, offering original analysis on the evolving marketing tech landscape. He has interviewed leaders in tech and policy, from Canva CEO Melanie Perkins, to former Cisco CEO John Chambers, and Vivek Kundra, appointed by Barack Obama as the country’s first federal CIO. He is especially interested in how new technologies, including voice and blockchain, are disrupting the marketing world as we know it. In 2019, he moderated a panel on “innovation theater” at Fintech Inn, in Vilnius. In addition to his marketing-focused reporting in industry trades like Robotics Trends, Modern Brewery Age and AdNation News, Wood has also written for KIRKUS, and contributes fiction, criticism and poetry to several leading book blogs. He studied English at Fairfield University, and was born in Springfield, Massachusetts. He lives in New York.

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Before Deciding Where Your Content Team Reports, Pay Attention to This



Before Deciding Where Your Content Team Reports, Pay Attention to This

When a brand creates a new content marketing or content strategy team, they often ask, “What function or department should the content team report to?”

My answer? “Yes!”

Now, I’m not trying to be a smart aleck. (Well, I am a little bit, do you even know me?) But seriously, my yes comes from years of helping implement content teams in dozens of businesses. My affirmative response indicates the most important thing isn’t to whom content reports; it’s that content teams report to the business.

When it reports into a function, such as brand, marketing, sales enablement, demand gen, PR/comms, or even (yes, really in one case) finance, the business acknowledges content marketing is a real thing with real responsibilities, power, and capabilities to affect business outcomes.

“What outcomes?” you might ask.

Well, that depends on where content marketing reports.

Now you have the real conundrum.

You can’t figure out where content marketing and content strategy should report without knowing the expected business outcomes, and you can’t know the business outcomes until you know where they’re reporting.

The most important thing isn’t to whom #content reports; it’s that content teams report to the business, says @Robert_Rose via @CMIContent. Click To Tweet

It’s tricky.

Content’s pervasiveness creates the challenge

Content as a strategic function in business affects almost everything. That pervasiveness means nearly any function in the business could “own” content as a strategy.

For example, we recently worked with a company about a year into its enterprise-wide digital transformation strategy. They have a content team, and we were to help them assemble a governance and operational approach for their website content.

When we determined the right operational processes, we got into trouble. A content team leader asked, “What if someone proposed a new AI chatbot as part of this digital transformation for the website? Is it a content project with a technology component or a technology project with a content component?”

The question isn’t semantics. Instead, the answer determines the process for development, the team owning implementation, and the measurement by which it’s deemed successful.

Knowing where a #content project is assigned determines its development process, implementation owner, and success metric, says @Robert_Rose via @CMIContent. Click To Tweet

It’s not just a technology challenge, either. The company also wanted to create new brand content guidelines for the website. Is that a content team project informed by the brand team or a brand project in consultation with the content team?

Given content’s pervasiveness, you can argue it is part of any meaningful communications initiative the business takes on. But sales’ needs are different from marketing’s, and HR’s requirements are different from the demand-gen team’s. However, to achieve consistency in content and communication, it doesn’t make sense to let each function determine its content strategy.

To achieve the balance between an enterprise-wide content strategy and the unique needs of every function in the business, the leaders and practitioners must decide to whom content reports. Again, the agreement is important, not the where or what of the agreement.

3 key attributes to identify in the decision-making process

As you and the leadership ponder how to balance the enterprise content strategy and where it should sit, consider these three key attributes that play an essential role in success.

1. Develop a content operations backbone

I don’t care if you have two people and one blog and a website or a team of 50 who operate on 35 content platforms across multiple channels. A content operations infrastructure creates consistent success across your digital content experiences. Content operations is an enterprise-recognized set of integrated and shared systems (meaning technologies), standards, guidelines, playbooks, and processes to ensure reliable, consistent, scalable, and measurable content across the business.

Content operations acts as the backbone – the foundation – to ensure the content is created, managed, activated, and measured the same way across whatever audience and whichever channel the brand presents to.

2. Connect with the audience across platforms

You can no longer expect to create one optimal experience that makes up for a bunch of sub-optimal ones.No matter your size, it’s not good enough to have your blog subscribers separate from your marketing automation database and all that separated from your CRM system. This goes for all of your audiences – from new employees to external parties such as analysts, journalists, partners, vendors, etc.

In this approach, the goal is to engage, build, and develop relationships with audiences. Thus, connecting audience behavior with insights on how to communicate better is not a siloed functional need; it is an enterprise need.

3. Build an accountability framework

This attribute in one word? Standards (and a team to keep them.) In a truly fascinating way, one of the earliest activities in building a content strategy makes the biggest impact on larger businesses: Come to terms with what words around content strategy and marketing mean. What is a campaign? What is the difference between a campaign and an initiative? What is an e-book? What is an article vs. a blog post? How long should a white paper take to write? Most businesses assume these things or create meanings based on contextual needs.

At a recent client, one group expected the content team to produce white papers within a week of the request. Another group expected them to be delivered in six weeks at double the length that the other group thought.

An accountability framework – and its ongoing evolution – presents clear ownership and coordination of content standards (roles, responsibilities, processes, types) across the enterprise. This model should not detail the definitions and standards but identify how they will enforce them.

Start your content decisions by deciding together

Where should you begin?

Well, just like in the beginning, my answer is yes. Independent of where you start, the critical point happens in the deciding of the elements. To be clear, these are institutional decisions, not simply “what you think.” In other words, it doesn’t matter what you believe the definitions, roles, or processes should be if the other parts of the organization don’t know, believe, or care.

A great first step is to create that accountability framework and make people care about its existence. At first, it might create a language of content that everybody in your business understands. When someone says, “I’d like to do a campaign,” or, “I think we should write a white paper,” everyone understands what that means and what it takes to do it. Then, the benefits of an accountability framework will start to become clear.

It makes the case for a team assigned to lead this consistency easier. And that enables the team to connect those experiences and audiences in a way that makes sense for everyone.

In the end, you have found determining the where, how, and what of a content strategy implementation isn’t the most important. The act of deciding is.

It’s a strange combination. In isolation, the reason for deciding seems straightforward. So why wouldn’t anybody want a clear definition of what a campaign is or a single source of the truth when it comes to the tone of your content?

But stacked together, those decisions feel like they are bigger than the content team and really should involve the entire enterprise. (Spoiler alert: They do.)

If you want any desired consequence, you had better decide on all the things that would help create it.

It’s your story. Tell it well.

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Cover image by Joseph Kalinowski/Content Marketing Institute

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