forbes.com
Verizon Business's Marketing-Led Transformation
Verizon Business is revolutionizing its marketing by placing it at the center of its transformation efforts, uniting product and marketing functions, launching an AI-powered Customer eXperience Index (CXI) to achieve a #1 Net Promoter Score (NPS) ranking by 2025, and leveraging AI and generative AI to personalize customer experiences.
- Why did Verizon Business unite its product and marketing teams, and what are the expected benefits of this integration?
- The unification of product and marketing at Verizon Business in 2024 aims to create more effective products by directly connecting customer insights with product development. This integration ensures new solutions address customer needs and market gaps, resulting in marketable assets and revenue generation. The company uses AI to predict customer behavior and deliver personalized experiences.
- How is Verizon Business using its marketing function to drive company-wide transformation and achieve specific business outcomes?
- Verizon Business is transforming its marketing function by placing it at the forefront of company-wide transformation efforts. This approach leverages deep customer understanding and data-driven insights to create customer-centric solutions, leading to increased customer satisfaction and tangible business benefits like reduced churn and higher revenue.
- What is the significance of Verizon Business's new Customer eXperience Index (CXI), and how does it contribute to the company's customer-centric strategy and business goals?
- Verizon Business's new Customer eXperience Index (CXI), an AI-powered tool, provides real-time insights into customer satisfaction across various touchpoints. This data enables proactive issue resolution and contributes to improved outcomes like lower churn and increased revenue, supporting Verizon's goal of maintaining its #1 Net Promoter Score (NPS) ranking in 2025. The use of generative AI for personalized marketing content is predicted to increase significantly by 2025.
Cognitive Concepts
Framing Bias
The framing is largely positive and focuses on the success and innovative strategies of Verizon Business' marketing and product organization under Iris Meijer's leadership. While this presents a strong case study, it might benefit from including challenges or alternative viewpoints to provide a more balanced perspective.
Language Bias
The language used is largely neutral and professional. There's a positive tone reflecting the achievements of Verizon Business, but this is consistent with the purpose of a promotional interview and does not represent biased language.
Bias by Omission
No significant bias by omission detected. The interview covers a range of topics related to marketing transformation, but the focus is on Iris Meijer's perspective and experiences at Verizon Business. Further perspectives from other companies or experts could enrich the analysis but are not necessarily required given the interview format.
Sustainable Development Goals
Verizon Business's focus on personalized customer experiences, particularly for SMBs with a "segment of one" approach, aims to address inequalities in access to tailored services and support. Their use of AI to understand customer needs and sentiments helps ensure that all customers receive appropriate levels of service, regardless of size or other factors. The initiative to improve customer experience for all segments (small business owners, global enterprise customers or public sector customers) also directly contributes to reducing inequalities in access to advanced technology and support.