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Top 10 Posts on Brand Building Strategies of 2018

A New Year tradition we started here at C3Centricity back in 2011, is to share our most popular brand building strategies and posts of the year. This gives everyone a chance to catch up on our best posts that they may have missed.

This year has been a particularly successful year for C3Centricity, with many of our newest post getting the top scores globally. This is quite tough for a blog that has been running for almost eight years and highlights the quality of the content we share with you! So have a look at our list and see if your own favourites are there. If not, then please let us know in the comments. Thanks.  

market research departments should deliver insights1. Is it Time to Do Away with Market Research Departments? 

This post shares the highlights of recent research into how market research departments can become true business partners, rather than being viewed as a mere cost center. It also shares ten steps to reinventing and upgrading your market research department. If you believe that you could be getting better support on your customer understanding and insight development, then these ten ideas will take you a long way to doing this in 2019.

 

 

CMO & Head of marketing keep your job2. Head of Marketing, How Can You Keep Your Job When Most CMOs Are Losing Theirs? 

Many CMOs are frustrated by their lack of recognition by their fellow c-suite colleagues. If this is your case, or you are new to the position and want to make an impact quickly, then this is a must-read post. It shares the most collon opportunities and challenges you may face and suggests five areas to (re)visit which will provide a new and fresh perspective on their business.

 

 

Top 2018 Infographics3. Top 10 Marketing Infographics to Smash 2018 (Inspiration for the Visual World)

These are the most shared marketing infographics of 2017. As usual, for each one we have added an action for you to take based upon the topic covered.

What was new for last year is that many marketing infographics that were shared were actually about content marketing. It’s as if “true/traditional” marketing doesn’t exist any more! That in itself says a lot about the focus of marketers these days! Are they right to do so? I don’t think so, but let me know your opinion.

 

 

Customer first strategy4. What a Customer First Strategy Is (And what it’s not!)

In its simplest form a customer first strategy is about thinking customer first in everything you do. Yes I know it sounds easy but it really isn’t. It doesn’t come naturally, at least to start with. And it involves a culture change to move the organisation in this direction. But I can assure you it’s worth it; its value is now well proven.

This post lays out the importance of being data driven, innovative, collaborative and agile to succeed a customer first strategy. It also shares the seven reasons most companies fail.

 

Customer journey map5. Do You Know Your Customer Journey Map & the Emotions Overlay?

This post shares the three lessons learnt from a personal (bad) experience with a hotel chain and its “guaranteed lowest price” promise. These are: 1. The customer journey needs to integrate all possible contact points. If it doesn’t you could alienate your customers before they make a purchase. 2. If you mess up admit it and correct the situation. People understand that mistakes get made. While they may forgive you if you quickly put it right, they will never trust you again if you pretend nothing is wrong. 3. Follow up to make sure the customer is happy. In the heat of the moment a customer may feel satisfied that something was done. However in the cold light of the next day, week or month they might feel that what you did was not enough.

 

Data helps you resonate with customers6. You’ve Got Data? Well Don’t Start There!

In working with clients around the world and in numerous industries, I have found that many are lost by the wealth of information that is available to them. In fact it seems to drown out their reasoning of what to do and they remain frozen in indecision.

If this is your situation, just follow the detailed steps of this post and you will soon be doubling, quadrupling, if not 10x the ROI of your data!

 

brand image and equity7. Brand Image, Equity, Personality & Archetypes: What Every Marketer Needs to Know

Your brand is not what you think it is! It is what your customers think it is; its brand image, personality and its value to them.

If you’re having issues with your own brand in either of these areas, then you’ll find this article both interesting and valuable. It covers why we buy brands, the different elements of a brand, the three types of attributes you should be measuring for your brand. It then goes on to review brand personality and the main archetypes with some great examples.

 

insight development8. Five Ideas to Improve your Insight Development

This article has been amongst the top twenty posts every year ever since it was first published back in 2013, a staggering five years ago! If you haven’t read it yet, then you really have been missing out on some surprising facts about insight development. Perhaps one of them is the reason that you are still struggling to develop valid and actionable insights? Check it out and see what you have missed all these years.

 

Provide better service and customers will love you9. The Revolutionary Marketing Challenge is Not Customer Satisfaction

We all know how extremely demanding consumers have become. Constant innovation and novelty has made us all more impatient and critical. We want things better, faster and sometimes cheaper as well. And customer satisfaction is becoming insufficient to drive growth alone. Marketing must deliver more!

This article shares three examples that provide a clear roadmap for anyone wanting to move their customer service and engagement to the next level, by offering more than mere customer satisfaction.

 

Golden nugget of segmentation10. Essentials of Segmentation and some Simple Alternatives

All brands and services need to choose a group of customers that they are going to satisfy, since it is impossible to satisfy everyone most of the time. This means that you need to make a choice and agree to ignore some of the category users you could appeal to, in order to totally satisfy your target customer.

Although this may sound counter-intuitive, segmentation is the only way to ensure you have the best possible chance to satisfy the needs of your targeted customers.

 

When I look back at these top ten posts I am proud that most of them are from 2018. After almost eight years, it seems that what I am writing today is more in line with marketers’ needs than previous posts which have been around for much longer.

There are a few exceptions to this, my evergreen content on topics that will always appeal to marketers young and old. This year, as in the past, they are on the topics of Brand image, equity and personality, Insight development and Principles of segmentation. I think this makes a lot of sense as they are fundamental skills that every marketer needs, even in this digital age. 

Now my question to you dear reader, is what topics you want me to cover in 2019? If you have reached the end of this post then you must be a keen supporter, so I will offer a free e-book to everyone who completes our short survey in January 2019. Just click on the button and you will be taken directly to the survey. Once completed you will receive an email with a link to download the ebook “Secrets to Brand Building” for free – it’s normally US$ 4.95!

Thanks for your help

To Survey

 

How to Sell More to Less People: Essentials of Segmentation

Businesses often make the mistake of trying to sell more to everyone.

Why is this a mistake? Well, if you try to please everyone you end up delighting no-one. This is why best-in-class marketing works with best-practice segmentation. Read on to find out how.

Every brand needs to appeal to a precise group of customers. This means that you need to make a choice of who to target amongst all category users. Making a choice also implies that you will have to ignore some category users who you could perhaps attract. Does that scare you?

It certainly worries many marketers and yet it’s the only way to sell more. Although this may sound counter-intuitive, segmentation ensures you have the best possible chance to satisfy the needs of your targeted customers.

Where to start

When deciding who to target, most companies conduct some sort of analysis. This can be as simple as identifying your users by what you observe, such as young men, or large families. Or it can be more complex, like trying to appeal to those who value freedom and are looking for brands that can provide or suggest this dream. This latter one would result from a values and motivational segmentation.

As already discussed in an earlier post called “The 3 Rules of Effective Targeting”, the deeper your understanding of your target customer, the more likely it is to provide you with a competitive advantage. Therefore segmentation alone is insufficient; you must then get as close as possible to your target customers in order to understand them as deeply as possible.

 

The MIDAS touch

Whatever method you use for segmenting and choosing your target customers, the results of your exercise of customer grouping needs to meet the following five conditions, known collectively as the MIDAS touch. (>>Tweet this<<) 

Measurable: The individual groups need to be clearly defined and quantifiable using KPI’s such as size, market share, value share.
Identifiable: Each segment must have a distinct profile and each customer must be attributed to only one segment.
Definable: Every cluster must be easy to describe and share with others so that you have mutual understanding of each of them.
Actionable: The groups must be easy to identify, in order to be able to target your actions and communications to them.
Substantial: The chosen segment must be financially viable to target, which means that it should, in general, be stable or growing, and durable over the long term.

All good segmentations or clusterings will fulfil these five key conditions, or at least they did until recently. Today the last condition is being adapted thanks to personalisation. It is more important to assess whether or not it is sustainable rather than substantial.

Even with this change, it is still easy for you to evaluate your segmentation, to ensure it is both valid and robust. If it does not meet these five conditions, then you will struggle to activate it and target your actions to your chosen group of customers.

As already mentioned, understanding your target as completely as possible is vital to the success of your business. I would, therefore, suggest that you review your own segmentation and decide how it can be improved. (>>and%20the%20customer%20group%20deeply%20[tweetlink]%20%23segmentation” rel=”nofollow”>Tweet this<<) (There’s always room for improvement, isn’t there?)

This may mean simply completing the information you have on each segment. Or it may mean running a whole new segmentation exercise. However, it is definitely worth getting your segmentation and target customer choice right. After all, they form the very foundation of your brands’ customer centricity.

 

A solution for those with few resources

If you do not have the time, money, or expertise to run a detailed segmentation study, you can still make an informed decision based on simple criteria. These could be gathered by mere observation, an analysis of who your purchasers are, or a review of contacts from your customer services group.

Once you have identified the different types of users you are attracting, you can then decide which is the most important group to you, using what is often referred to as the Boston Matrix. This analysis was first developed in the 70’s by the Boston Consulting Group. At the time, the matrix  was created to help corporations analyse their business units and was based on market growth and relative market share.

Today this scatter plot is created using various elements to make up the two axes. Whilst the criteria you use for each axis can vary, this simple analysis has the advantage of being able to be further refined over time, as you get more information.

 

Choosing the criteria for the axes

The two axes you specify for the Boston Matrix can be as simple or as complex as you like. Obviously, the more criteria you use, the more accurate your analysis is likely to be. Examples of the criteria you can use include:

Attractiveness: Segment size, segment growth rate, segment value, competitive environment, how well the group fits the company or brand – or vice versa.

Ability to win: Attractiveness to your customer, completeness of your distribution channels, your media mix, your reputation.

You can use any or all of the above suggestions for creating the two axes. C3Centricity provides an automated tool for calculating the two axes and then positioning segments on them. This is made available to all participants of the Customer Centricity Champions Classes. Find out more by signing up to one of the forthcoming webinars.

 

Choosing the actions to take on each segment

Sell more through better customer targetingOnce you have positioned the different segments or groups of customers on the axes, you can easily see what needs to be done for each:

Target: these are your core users as they are both attractive to the business and easy for the company’s product or service to attract. Therefore, they need to be protected from possible attacks by the competition.

Convert: these users can be attracted to your product or service but your ability to win them is currently low. To win these customers you probably need to consider improving one of the elements of the mix in order to attract them.

Grow: your product or service can easily win these groups but perhaps they are not as profitable as you would like. This might change, so it is important to review them from time-to-time or develop a different strategy to attract them.

Ignore: many organisations struggle to make the decision NOT to go after a group of category users. But if you have neither the product / service nor the segment size that would be profitable to you, why spend time, money and energy going after them?

 

Conclusion

All businesses want to sell more. They also want as many customers as possible. However trying to sell to everyone is unlikely to meet with the success you hoped. Choosing the right group of customers to attract with your product or service is essential. But so is doing everything you can to then understand your chosen segment as deeply as possible. Truly customer centric organisations excel at doing both; do you? (>>Tweet this<<)

Need help in segmenting, identifying or understanding your target customers? Let us help you catalyse your customer centricity. Contact us here or check out our forthcoming Webinar Customer Centricity Champions. You’ll learn far more about segmentation, how to use the Boston Matrix and a whole lot more. Reserve your slot before it’s too late!

C3Centricity used an image from Denyse’s book “Winning Customer Centricity

This post is an updated version of one first published on C3Centricity.

How to Segment for Actionability & Success

Last week I shared the twelve questions you need to be able to answer in order to ensure you really know your target audience. If you missed it, you can read it here. The post certainly attracted a lot of hits, so I hope you have all found ways to improve your own customer underst anding as a result of reading it.

All br ands and services need a group of customers that they are going to satisfy, since it is impossible to appeal to everyone most of the time. This means that you will need to make a choice about who you are going to target, which also implies that you must accept that you will also ignore some other category users.

Last week I read a really great post by Colin Nelson of HYPE on how a simple segmentation of employees enabled Swisslog to underst and and improve participation in their innovation ideas campaigns. I highly recommend reading this case study as it shows how even the simplest grouping of a market – in this case employees – can be both actionable and successful.

Segmentation can be as simple or as complex as you like, but is essential for all successful businesses. If you yourself are struggling to underst and your consumers, employees, retail customers, or any other group of people, perhaps a segmentation exercise is what you need to run.

 

 Where to start

When deciding who to target, most companies will start by conducting some sort of data gathering. This could be as simple as identifying your users by what you observe, such as young men or large families, or as complex as gathering your customers’ values and motivations. As mentioned in last week’s post, the deeper the underst anding of your target customer is, the more likely it is to provide you with a competitive advantage. The same also goes for segmentation.

 

Do you have the MIDAS touch?

Choosing the golden segmentWhatever method you use for segmenting and choosing your target group, the results of your exercise need to meet the following five conditions, known collectively as the MIDAS touch:

Measurable: The individual groups need to be clearly defined and quantifiable using KPI’s such as size, market share, value share
Identifiable: Each segment must have a distinct profile and each customer must be attributed to only one segment
Definable: Every cluster must be easy to describe and share with others, so that you have mutual underst anding of each of them
Actionable: The groups must be easy to identify, in order to be able to target your actions and communications to them
Substantial: The chosen segment must be financially viable to target, which means that it should in general be stable or growing, and durable over the long term

All good segmentations or groupings will fulfil these five key conditions, so it is easy for you to evaluate the results of your segmentation exercise. If they do not meet these conditions, then you will struggle to target your actions to your chosen group of customers.

Why not take a look at your own segmentation right now and decide how it can be improved? This may be by completing the information you have on each group, or may make you realise that you need a whole new segmentation study. However, it is definitely worth getting target customer choice right, as this forms the foundation for your br ands’ customer centricity.

 

Don’t have the resources? Here’s a solution

If you do not have the time, money, or expertise to run a detailed segmentation study, you can still make an informed decision of thebest  customer group to target. Use an analysis similar to the Boston Matrix, first developed in the 70′s by the BCG. At that time, it was created to help corporations analyse their business units and was based on market growth and relative market share. There are numerous free articles online explaining both the methodology and giving example plots; the one from MindTools is in my opinion one of the better sources.

Boston MatrixWhilst the criteria you use for each axis can vary, this simple method has the advantage of being able to be completed over time, as you get more information. Examples of the criteria that can be used are:

Attractiveness: Segment size, segment growth, segment value, competitive environment, fit to the company or br and
Ability to win: Product attractiveness to your customer, your distribution channels, your media mix, your reputation

Once you have positioned the different segments or groups of customers on the axes, you can easily see what needs to be done for each:

  1. Target: these are your core customers to target, as they are both attractive to the business and easy for the company’s product or service to attract
  2. Convert: these users can be attracted to your product or service but your ability to win them is currently low; you probably need to consider improving one of the elements of the marketing mix to attract them
  3. Grow: your product or service can easily win these groups but perhaps they are not as profitable as you would like; review them from time-to-time or develop a different strategy to attract them
  4. Ignore: many organisations struggle to make the decision NOT to go after a group of category users, but if you have neither the product / service nor the segment size that would be profitable to you, why spend time, money and energy going after them?

Choosing the right group of customers to satisfy with your product or service is essential for business success. So is doing everything you can to underst and them as deeply as possible. Truly customer centric organisations excel at doing both; do you? Why not share your own succcess story on segmentation?

If you would like to  know more about targeting, check out our website: https://www.c3centricity.com/home/underst and

Need help in underst anding and segmenting your current category customers or defining which group to target? Let us help you catalyze your customer centricity; contact us here

This post has been adapted from one that was publised on C3Centricity Dimensions on May 14th 2012

C³Centricity uses images from  Dreamstime.com  and  Kozzi.com

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