Insights are the pot of gold that many businesses dream of but rarely find. Why is that? Are you one of them? If so then I have some practical ideas on how you can get much, much better at insight development.
#1. Insights don’t come from a single market research study
Management often thinks that insight is “just another word for market research”. I remember one of my previous CEOs saying exactly that to me just before he addressed the whole market research and insight’s team at our annual conference. I am sure you can imagine what a panic I was in as he walked up to the mike!
Insights are a challenge to develop and are rarely, if ever, developed from a single piece of market research. Each market research project is designed to gather information in order to answer one or more questions. Whilst it may enable a business to make a more informed decision based upon the objectives, insight development is quite a different process.
Insight development involves integrating, analysing and synthesising all the data and information you have about a category or segment user. Then summarising it into knowledge and turning that knowledge into understanding. Only then are you ready to develop an insight.
All brands should have (at least) one insight on which its image, personality and communications are built. For example
AXE (Lynx in UK): (young) men want to attract as many beautiful and sexy women as possible. This is one of their newer ads, where the seduction is a little less in your face and more subtle – but still there.
Haribo Starmix: There’s a child inside every adult. This “Kid’s Voices” campaign has been running for years and manages to surprise and delight with each new episode.
Dulux sample paint pots: I love to decorate my home, but I don’t want to look stupid by choosing the wrong colour. Although these are now a standard offer for many paint brands, Dulux were the first to understand the problem facing potential home decorators.
Insight development will provide the basis on which you will define the actions that are needed to change the behaviour of your target audience. It also provides a solid framework on which to build your communications’ strategy.
#2. Insight development is based upon a desired behavioural change
When your sales, marketing or management look to improve their business results, their real objective is to change the behaviour of your current or potential customers’ behaviour. For example:
From buying a competitive brand to purchasing yours.
From using your services once a month, to once a week.
Moving customers’ beliefs about your brand from a traditional or classic brand, to a more modern image.
Changing customers’ perceptions about the price of your brand from expensive to good value for money.
Because insights are based on a desired behavioural change, they usually contain an emotional element that is communicated through advertising. The emotion that is shown in your communications is more likely to resonate with customers if it does stimulate their emotions. They are then more likely to remember your brand and may be more motivated to take the desired action you have identified.
If you are looking to increase sales or improve your brand’s image or equity, look to connect emotionally with your (potential) customers. Identifying the behavioural change you need your customers to make is a foundational step of insight development.
#3. Insight development needs more than Insight professionals
Although this may sound counter-productive, insights really do benefit from working from differing perspectives to get to that “ah-ha” moment, that many refer to. A deep understanding of customers and their reasons for behaving in a certain way, comes from looking at all aspects of their lives.
If you only review the actual moment when they choose or use a product or service, it is highly unlikely that you will develop that deep understanding you need. What happens before and afterwards also leads to their choice or that of their next purchase.
This is why it is important to work as a team when developing insights. Depending upon the issue or opportunity identified, the team can be made up of people from marketing, sales, trade marketing, production, packaging, advertising, innovation, and / or distribution. And these people don’t even need to work on the category in question; sometimes it is by taking ideas from different categories that real insights are developed.
#4. Insights are usually based on a human truth
The insights that resonate best with people are those that are not only emotional, but are also based upon a human truth. As you can imagine, these two elements are closely connected.
A human truth is a statement that refers to human beings, irrespective of race, colour or creed. It is a powerful and compelling fact of attitudes and behaviour that is rooted in fundamental human values. It is something that is obvious when quoted, but is often ignored or forgotten in daily business.
Human truths are linked to human needs and although it’s validity has been questioned in the past, it is seeing a revival today. The covid-19 virus has moved all human being back to a search for the basic levels of safety and health.
Examples of human truths used by some brands include:
Parents want to protect their children.
Men and women want to find love.
People want to be better than others.
If you are struggling to find an insight, it can help to review which level of needs your target audience is on and see how your brand can respond to help answer it.
Following on from the above points, it is particularly interesting that once found, an insight can be adapted to be used by different brands. There are many examples of this, particularly amongst major FMCG / CPG companies.
So take a look at your competitors’ communications and see if you can identify the insight on which they are built. Do the same for other categories targeting a similar audience. Sometimes you can use the same insight for your brand as they are using. But I would only recommend this if you are really struggling to develop your own insight.
One very successful example of this is the advertising for Omo / Persil from Unilever and Nestle’s Nido. They are both based on the insight “I want my child to experience everything in life, even if it means getting dirty.” Take a look at the two ads below and see what I mean.
Unilever’s Omo: shows that a good mother lets her child experiment and learn – even if this means getting dirty. If you don’t know their advertising, then check out one example from this long-running campaign.
Nestlé’s Nido: illustrates this need as a mother providing the nourishment for healthy growth which allows her children to explore the outside world safely. If you would like to see a typical advertisement, check it out on YouTube here. Interestingly, Nestlé has used this same insight to develop advertising for its bottled water in Asia and pet food in the Americas too.
Another example of a shared insight is again from Unilever and the local Swiss supermarket Migros. The insight is “Young women want to be appreciated for who they are and not just their external looks.”
Unilever’s Dove was the first brand to recognise and benefit from this insight. Their famous Real Beauty campaign resonates so well with young women that many other brands copied it, especially their Evolution film. Here is one of their more recent ads that I’m sure will give you goosebumps.
The Swiss Supermarket chain Migroshas a store brand “I am” which uses this same insight across all their health and beauty products. Somewhat unusually, the brand name itself is based upon the same insight, and its advertising repeats it several times: “I am – what I am”.
So there you have them, the five ideas that I came up with and numerous examples to help you to develop better insights more easily.
Although you probably already have your own process for creating them, I know from experience how hard it can be to find insights from all the information you gather.
I hope this short article has assisted you in your search for those “golden nuggets”. Do share your own ideas for making insight development easier, I would love to hear from you.
C³Centricity uses images from Pixabay.com.
Do you need help developing or updating your own Insight development process? C3Centricity offers several 1-Day Catalyst training sessions on the topic. We will work with your team to review and revitalise your own insight process, or will define a proprietary one that integrates into your other internal processes.
Halloween is coming, even earlier than usual this year, judging from all the retail displays already in the shops! Although it is now more associated with children dressing up in scary costumes and dem anding “Trick or Treat”, it is actually a Christian remembrance of the dead on the eve of All Saints’ Day.
So what does that have to do with marketing? Apart from the obvious effort of many companies to include the pumpkin shape, flavour or aroma in almost every product they make, at least in the US, marketing too has its scary moments doesn’t it?
What scares you marketers the most, or to put it another way, what keeps you up at night? One of the most recent studies on the topic, issued a few months ago, comes from The Marketing Institute (MSI) and was summarised by David Aaker of Prophet as seven issues, which he divided into three tiers:
TIER ONE: The hot topics
Underst anding customers and the customer experience with particular emphasis on the impact of social and digital.
Big data and analytics, with how they will impact predictive modelling and the marketing mix.
TIER TWO: The other concerns
Following on from the opportunities of Big Data, the next concern is Marketing Accountability and its ROI.
Developing marketing excellence and the new skills required such as visualisation and storytelling.
Leveraging digital/social/mobile technology and linking it to CRM
Creating and communicating enduring customer value and how to measure it in the social environment.
Developing and delivering integrated marketing
TIER THREE: Previous concerns getting under control
Innovating products and services
Optimizing social contracts
What I find interesting from this and similar studies that I wrote about last year, is the overlap between many of these challenges. Marketers are really concerned about the wealth of information that they have on their customers and how they can manage to turn it all into insights, for more profitable actions and engagement. I therefore thought it would be useful to summarise the “so whats” of all these current challenges and propose actions that will help marketers get these issues under control, so they can change their scares into solutions:
Underst anding the customer experience
SCARE: With the exciting new worlds of social and digital taking up much of the thoughts of marketers, they are struggling to find ways to think integration, but that is the only way to underst and today’s customers.
SOLUTION: Starting from the customers’ perspective makes looking at the bigger picture much easier. Instead of thinking single channels of communication, think connection and engagement. (>>Tweet this<<). Instead of thinking purchase and loyalty, think advocacy. Creating value for the customer goes way beyond providing a product or service these days. (>>Tweet this<<)
Knowing what to do with data
SCARE: We have gone from an information rich environment to complete data overload. This challenge definitely keeps a lot of marketers up at night. They feel as if they have to use everything available but at the same time are also aware that they are incapable of doing so.
SOLUTION: The answer lies in the old “eating an elephant” solution. Rather than worrying about what is not being managed, marketers should review what they already have, and only then decide what else they could use to help answer all their questions. There is so much information available today that we can’t work with it all, but we can ask better questions that can be answered by analysing this data. Start with the right question and then use the data you have to answer it. (>>Tweet this<<)
SCARE: Every br and has some sort of web presence today. Whether that is a website, Facebook page or Twitter account, most companies have rushed into social media without a detailed underst anding of why they are there. If this is your case, it’s time to take a step back.
SOLUTION: How are you connecting with your customers today, both offline and online? The two should be complementary. However if there is too much overlap and you are doing the same on both, then you are wasting your money. You are also wasting your money if you don’t know why you are online in the first place! (>>Tweet this<<)
I had a client once who wanted help in updating one of their websites. In running a first analysis of all their websites, I found that more than 80% of them were being visited by less than 30 visitors a month! We cancelled all those websites and invested the money in the remaining active ones, improving both their ROI and the engagement with their customers. Maybe it’s time to take a look at your own web statistics?
SCARE: Marketers are scared for their budgets and even more so for their jobs. With the rise in the importance of technology and IT, marketers need to move from br anding and creativity alone, to embracing data and analytics much more than they have done in the past.
SOLUTION: Become friends with your CIO and see IT as a support of rather than as a threat to your budgets. Yes managing new technologies and data analysis will need more investment, but that won’t (shouldn’t) come at the expense of br and building. In fact with the increased power of the customer and the number of channels on which to reach them, marketing needs increased budgets to be where and when the customer dem ands connection and information. (>>Tweetthis<<)
Acquiring new skills
SCARE: As already mentioned, marketers must get comfortable with large amounts of different data. They also need better ways to analyse and make sense of it all, often in near real-time. This is a challenge in itself, but the new skills they have to acquire don’t stop there. They also need to turn their information into actionableinsights and then share them with the rest of the business to gain acceptance and impact.
SOLUTION: Your market research and insight colleagues are the best people to help in making sense of the data and developing actionable insights. It will be the marketer’s job to share these with the rest of the business in a more creative way. Visualisation & storytelling are the new must-have skills for today. No longer can you expect PowerPoint presentations to excite and engage your C-suite executives – if they ever did!
These are five of the most pressing current scares of marketing and some simple solutions to address them. Are you challenged by something else? If so, add a comment below and I’ll help you find a solution. Or if you prefer, you can contact me here.
C3Centricity used an image from Microsoft in this post.
Last week I presented at the first Swiss Business Intelligence Day. It was an inspiring conference to attend, with world-class keynote speakers opening the day. They included Professor Stephane Garelli from IMD, Philippe Nieuwbourg from Decideo and Hans Hultgren from Genesee Academy.
After such an illustrious start, you can imagine that I was more than a little nervous to present my very non-IT perspective of business intelligence. However, the presentation did seem to go down well, so I want to share with you some of the ideas I talked about. Not surprisingly, with my passion for customer centricity and always with the end-user in mind, I took quite a different perspective from that of the majority of IT experts who were present.
BI should Collaborate More
With the explosion of data sources and the continuous flow of information into a company, managing data will become a priority for everyone.
The Big Data market, which more than doubled last two years, is forecast to triple in the next four, according to Statista. BI will have to exp and its perspective, work with more varied sources of information and exp and its client base.
In the past BI was inward looking. It ran data-mining exercises, reviewed corporate performance, developed reports and occasionally dashboards. It was, and still is in many organisations, mostly concerned with operational efficiencies, cost-cutting and benchmarking.
The above plot is my own, simplified view of how BI fits into data management within most organisations today. The other three quadrants are:
Competitive intelligence (CI) uses external competitor knowledge to support internal decision-making. Although BI is sometimes considered to be synonymous with CI because they both support decision-making, there are differences. BI uses technologies, processes, and applications to analyze mostly internal, structured data. CI gathers, analyzes and disseminates information with a topical focus on company competitors.
Investor Relations (IR) uses internal data to get external people, such as shareholders, the media or the government, to support and protect the company and its views.
Market Research (MR) on the other h and is mostly outward looking. It studies customers’ behaviours & attitudes, measures images & satisfaction, and tries to underst and feelings & opinions. That information is then used, primarily by marketing, to develop actions and communications for these same customers.
The four quadrants, even today, usually work in isolation, but that will have to change with this new data-rich environment in which we are working.
BI is Ripe for Change
According to a recent (Jan 2014) Forbes article, BI is at a tipping point. It will need to work in new ways because:
it will be using both structured and unstructured data
there will be a consolidation of suppliers
the internet of things will send more and more information between both products and companies.
thanks to technology, data scientists will spend more time on information management & less time on data preparation. At present it is estimated that they spend 80% of their time on data cleaning, integration and transformation, and only 20% on its analysis!
In February GigaOM echoed these thoughts, claiming that we are not in BI 2.0 but rather 4.0. They said the volume of data and the number of people now exposed to it, makes data availability to everyone essential. No longer does BI involve only the CEO and IT specialists, it concerns everybody.
Google glass, as tested by Virgin, is a good example of this. It delivers real-time, on time and relevant information to Virgin’s hosts and hostesses, to meet, greet and advise its passengers. Their customer support team can accompany their VIP guests and warn them of delays and gate changes as they happen. Google Glass enables them to get out from behind their desks and interact more with the guests they are trying to please.
BI must Deliver More Synthesised Knowledge
According to a recent Business Intelligence reporton management’s opinion of their data, they are currently frustrated. They say that it comes from many disparate sources and is rarely if ever available in real-time. They can’t easily access it without the help of IT and it takes too long to customise it to what they need. What is particularly interesting in the findings, is that management were not saying that they don’t need information; in fact it actually looks as if they want to have access to more data. BUT more of it in a way that makes it easy to find what they want, when they want it.
Another finding from the survey shows executives’ thoughts about data delivery. Currently they are getting their information primarily through emails and spreadsheets. I find this shocking that today we still expect management to take the time to wade through all the data in order to draw their own conclusions. Less than one in eight of the C-suite is getting dashboards, which is their preferred medium (>>Tweet this<<). They also want mobile delivery so that they can access information on the go.
This study provides us with a simple plan to satisfy their needs and to help us meet our own challenges of data abundance. This is what we should prioritize, since we can no longer continue to do what we’ve always done in the same way we’ve always done it. The BI priorities are as simple as ABC; accessibility, business impact and consistency (>>Tweet this<<).
BI needs to Provide Simplified Access
Information should be provided where and when it is needed and in such a way as to have most impact on the business. This means making it easy to review, and quick and simple to draw conclusions. This is why the number one dem and from business is dashboards.
Dashboards have the advantage of imposing consistency (>>Tweet this<<) so no time is lost in underst anding what the information is showing. With the availability of more information, comes the challenge to make it available to more people. And more people will also mean more and different needs.
To underst and the accessibility challenge I find the tree is a great metaphor for what we struggle to achieve. The roots can be compared to all the different sources of information we have at our disposal. The trunk is like all the integrated information that is reported in dashboards and the branches, twigs and leaves are the different data warehouses we create.
Whilst a one-page overview is sufficient for management, others will need greater granularity. Therefore we need to make information available at different levels of detail. My experience suggests three types of information sharing.
The leaves are like data warehouses where the raw or nearly raw data sits
The twigs are the information repositories where analysed data and information resides
And the branches are the knowledge libraries where the integrated actionable insights sit
What I have learned from setting up numerous data warehouses, information repositories and knowledge libraries, is that it is not easy. Not because of any technical complexity, but because of winning the needed internal support for the project and getting the essential acceptance for global access to the information. It takes more than technology, it takes a culture change in many cases too, and this is the real challenge. Stopping the “information is power” mentality means finding ways to counter the opposition who claim confidentiality of their own data whilst also requesting access to everyone else’s. In addition, even if people need information, they will generally not make the effort to go looking for it, if there is an easier way, such as by asking someone else! All these issues need to be resolved for an integrated database project to succeed.
One way to encourage the culture change mentioned earlier, is to demonstrate the business impact of what you are providing. The desired impact won’t come by delivering spreadsheets, it will come from dashboards (>>Tweet this<<).
So how do you summarise a company in a one-page dashboard, especially those which are present in multiple categories, globally? Well, often the simplest way is not to try to cover the total business, but rather the top categories and markets that would cover 70% – 80% of total sales. In most cases this would be sufficient to underst and the main priorities for management.
Of course at category level each business unit should be able to get access to more detailed information, as should the regional presidents, if you are working in such a complex business environment.
The real power of dashboard information will come from data integration, where both internal and external information are synthesised, for a holistic view of the business. I have worked on several projects that combined internal information with consumer data for a complete business report. The consumer information came from promotions, call centres and CRM activities, and was combined with market research on product and communications performance, to provide a solid base of consumer underst anding. This can then be presented alongside the more usual financial information that executives are already receiving. Having a complete overview of the business has far more impact than individual, silo’d summaries and enables management to make decisions more quickly and easily.
Another challenge when setting up and integrating databases, is in the harmonisation of their master data. When you are working with consumer data, this challenge can be multiplied by ten if not one hundred. For example, consumers will talk about a pizza, without specifying the br and, sub-br and, variant, flavour, packaging and size that would be used by the business to define it. So you have to find a way to translate what the consumer is saying, into the products as recorded internally.
The consistency of the master data will even increase in importance and complexity, with the expansion in available data sources. In addition, the fact that more people will get involved, will confound things even more, since their needs will differ.
Asking Better Questions of the Data
Accessibility, business impact and consistency are vital to the success of the new BI’s data management and usage, but I feel the urge to add one more thing. That of asking the right questions of the data. Although BI is used to asking questions, I think Market Research (MR) are the real experts in questioning. Therefore they should be involved in ensuring integrated databases are combined in such a way as to permit easy extraction of whatever level of information is required, or whatever perspective might be taken.
For example, BI is used to running forecasts. Those usually start from a review of past data and current reality to develop forecasts based on complex algorithms. They will do this within their teams with perhaps input from finance. MR on the other h and, is more likely to work from societal trends and develop plausible future scenarios, brainstorming across the organisation to gather a wide array of perspectives. Both perspectives are complementary and combined, they make a powerfully readied organisation.
Making more data more accessible to more people will certainly help this question development, as I think getting the right answers depends upon asking the right question, don’t you?
These were just a few of the ideas I shared at the Swiss BI Dayin Geneva. How do you see business intelligence adapting and changing as a result of the increased information availability happening today?
C³Centricity used images and graphs from Statista, Microsoft and Virgin in this post.
We all gather information about our customers. What do we do with it? We (hopefully) use it to inform our decisions and then it gets filed away. In some cases this is vertical (i.e. thrown away) but usually it is horizontal, to gather dust on a shelf somewhere that is soon forgotten. I think it’s time we changed this and turned our information investments into gold!
There are many, many ways to gather information about the customer: observation, listening, market research and external reports. I recently wrote about all the information on our customer that we should have at our disposition in a post called “12 Things you need to know about your target customers”. We need a lot of information to really know and underst and our customer and it clearly will not come from one single market research project or report. Therefore that knowledge must be built up over time and that is where the problem lies.
Often we forget we already have the information and go out and buy it again. This is particularly common when the marketing department changes its lead or members – which seems to be every year or two in many organisations these days! Everyone thinks they need more information, when they actually most likely need more insight. (I have written several posts on insight development, including “ Are you into insights or information?”) Therefore I thought it would be a good idea to share some ideas on resolving this situation, so that your hard-fought budget gets spent on gathering information that you don’thave available and really doneed.
#1. Review what you’ve got
Data, information and knowledge are only useful if they are analysed and converted into underst anding and insight. In today’s data-rich environment, this is often where companies struggle the most. Next time you need information about your customer, start by reviewing the information and knowledge you already have, and also ask other departments who may need similar information, if they have it, before commissioning further research or report purchases.
#2. Share what you’ve got
One of the reasons companies spend money on gathering information that is already available internally, is because they don’t know it is! To help reduce this overspend, which unfortunately most suppliers will not inform you of, you need to make sure that everyone who might need the information is made aware of it and has access to it.
For one of my clients, we discovered that some external reports were being bought separately more than 20 times within the organisation! As if that wasn’t bad enough, several different departments were also buying access to the same databases, and others were doing almost identical pieces of market research at approximately the same time.
To avoid this:
make a review of information needs across the organisation, or across the region or globe if yours is an international business
make one person responsible for negotiating company-wide deals with suppliers; the savings made may even cover the cost of this position and is therefore well worth the investment
share plans for market research projects across businesses and look for opportunities to combine for further cost savings
#3. Store what you’ve got
Despite all the actions specified in #2. above, you may still find that there are times when unplanned information needs crop up. This is where a knowledge database or library becomes effective. It can be as simple as a folder on a shared drive or as complex as a bespoke platform, or anything in between. What is important is that is meets the needs of those looking for information and that all relevant people have easy access to it.
Whichever size of storage you decide on, I suggest first making an audit of information needs. This should cover both what is available, as well as what is needed and why. However be careful to distinguish between what people would like to have and what they actually need; I have found a wide difference between the two in many cases.
#4. Build your Library
Once you have identified the real needs of your organisation, it is time to build your Library. And don’t think once you have built it that people will immediately start to use it! They need to be encouraged to share their knowledge. In my experience, this can sometimes be met with concerns about the confidentiality of the information stored:
“I would love to see what everyone else has gathered, but of course my information is confidential and can’t be shared”
One possible solution to this is to provide right of use onlyto those who share their knowledge and information, ideally at similar levels to their access. “Greedy outliers” who take more than they give should then be easy to identify.
Another issue that can crop up with open sharing is management’s worry about leaking information to the competition, especially when employees leave the company. Although this is often an exaggerated risk, in most cases this can be significantly reduced by controlling information download. If certain projects, especially new product development, are considered to be too high a risk to share, then these can have a confidential “as needs” basis rule, or a time limit set on them before being made public.
#5. Mine the gold
The real gold from information sharing comes quickly once it starts to be a reality. Even for smaller knowledge libraries, I have found that within six months the available information starts to replace planned research projects or report purchases.
Once the Library is up and running, the next step is to start sharing your insights too. As mentioned in “ Five ideas to improve your insight development” insights can often be used across more categories than the one for which it was developed. In the post I share a couple of examples of them:
INSIGHT: Parents want to protect their children so that they grow up happy and healthy used by:
Unilever’s Omo and its “Dirt is Good”; see one of their ads on YouTube here
Nestlé’s Nido; check out one of their ads here. Interestingly Nestlé has also used this same insight for its bottled water in Asia and pet food in the Americas.
INSIGHT: Young women want to be appreciated for who they really are i.e. not models used by
Unilever’s Dove was the first br and to recognise and benefit from this insight with their infamous Real Beauty campaign; see one of their more recent ads here
The Swiss Supermarket chain Migros has a store toiletries br and “I am” which uses the same insight across all their health and beauty products, even using it for the br and name itself and advertising copy: “ I am – what I am“.
The power of information sharing goes a long way to increasing the return on information investments. Reviewing what you’ve already got, sharing and making it accessible to all, and then developing a library platform will all help increase its use whilst at the same time reducing the costs of market research and information gathering. So, what are you waiting for?
Have you developed your own system or library for information and insight sharing? If so please share your experiences and horror stories in the comments below. Everyone would love to know what some of the challenges may be for them when they follow your example.
Need help in negotiating your information contracts or in building an information / insight Library? Why not call us to discuss just how much you could be saving and increase your information ROI. No obligation, just INSPIRATION!
A few weeks ago I shared some ideas on developing insights. (You can read the post here) It certainly struck a chord with a vast number of you, judging from the comments and acknowledgements many of you sent in. I really appreciated them all so thanks a million.
This week I thought I would take insights development even further, by proposing some steps to take for those of you who are still struggling, or would like to upgrade your own process. Often we stop at the information or knowledge stage and thus never get to real insights. This is such a disappointment, after all the hard work of data gathering and integration.
In January Forrester wrote an article suggesting that 2013 was going to be the year for market insights. A couple of months on, things don’t seem to have advanced much, so hopefully this post will enable your own organisation to advance and to get ahead of the competition.
#1. Be precise in your objectives
As mentioned in the previous article, your objective for developing an insight should be presented as a desired behavioural change in your target audience. For example, if you are looking to increase your market share, you could be looking to:
Find a way to convince competitive br and purchasers to buy your br and instead
If you are looking to improve your image, your objective could be:
Find a communication platform that resonates better with your target audience, so they consider your br and in a new light
If you are looking to reverse a sales decline, it might be:
Underst and how to move your shoppers from monthly to weekly purchasing
Identifying the behavioural change you are looking to encourage is the first step to uncovering a true insight.
#2. Involve a wide range of experts
Insights are not the sole responsibility of the Market Research & Insight Department. Everyone in the company can bring valuable information and underst anding to the identified opportunity. Therefore, involving people with a wide range of perspectives can make insight development both easier and more effective. Gathering together a group of experts to provide a 360 perspective of the category or br and users could mean including:
R&D, who can bring underst anding of available internal & external technical skills
Operations can share current defects and development aspects
Sales can add retail perspectives, including distribution, packaging and shelving limitations or opportunities
Marketing will provide the communications, image, equity and competitive environment
Customer services can add current customer sensitivities, problems or suggestions
Finance can highlight any budgetary limitations and ensure financial goals are met
The group you bring together will be a function of the behavioural change you are looking to make. However I personally believe that the exercise should be run by your market research and insights team or external experts, since it is their profession to underst and people and behaviour. They also will have the widest and most detailed perspective of anyone in the company
#3. Review all available information & knowledge
All organisations have far more information than anyone realises, even your market research, insight, strategy or planning teams. This also emphasises the need for having a team with differing expertise since they will also bring different information sources to light.
Once the team has been formed and the objectives for the insight development exercise have been agreed, it is time to organise a complete review of all the available information and knowledge. This analysis can be shared amongst all members of the team. They should look for recurring themes, expressions and words across the different information sources that might provide indications of the issues or opportunities around the identified objective.
As everyone completes the review of the information, a number of working sessions can help to share the information already found and start the process of getting closer to an insight. The actual insight development exercise will take place in another meeting once all available information has been assessed and any information gaps filled.
These are the first three steps towards great insight development. In future articles I will complete the process with the remaining steps. Do you use these same steps when developing insights or do you have a different process? If you do, I would love to hear what you do differently.
Many organisations have revamped their Market Research groups as Insight Departments in the past five to ten years. However, it takes more than a name change for those involved to achieve the recognition they deserve.
If you work in or with such a department, then read on, as I have some ideas on how you can achieve this.
Last month Forrester issued the results of some research they had done looking into the Future of Market Research in 2013. Their conclusions, even if dated today, are still highly relevant:
2013 is the year of truth for market insights: their future will depend on how successful they are at getting increased investments and tapping into alternative information sources than just market research
Market insights departments need to invest in knowledge, technology and skills: the group will need to better respond to the fast-paced management need for the customer understanding that can impact their business decisions
Vendors have to show their worth: suppliers have become commodity providers as they have allowed their clients to select on price more than differentiation.
Future market insights solutions have to connect the dots: single source is no longer sufficient – if it ever was – and vendors need to be able to better respond to the need for 360 degree perspectives.
Whilst I certainly agree with these conclusions, which in fact impact both supplier and company insight professionals, I believe that most of these needs are not really new.
Some more forward-thinking organisations have in fact already identified and adjusted to these changed needs.
So what is there to do if you haven’t? How do you prioritise what needs to be done in your organisation? Here are my top 5 tips:
#1. Find out What Management Really Needs
It is amazing how many market research and insight groups still have little, or no contact with top management. So how can they possibly be perceived as value creators for the business?
It is not enough just to attend the presentations of the business plans or to get a copy of them to read afterwards. You need to talk with those who wrote them and those who will implement them.
Ideally, you should be instrumental in helping to draw them up. Get out of your offices and into the boardrooms and hallowed top-floor offices. Listen hard and ask tough questions. Make sure you understand where the company is going and your role in getting there.
#2. Review the Information you Currently Collect
Most organisations have regular on-going measurements of some sort, which probably haven’t changed in years, if not decades! Now you know what the business needs, review, revamp or retire the studies that are no longer needed. Show that you are using your budget wisely, to provide management with the information and knowledge they need, to help them to take better decisions.
#3. Revamp What is Important
Those projects that do add value to the organisation will certainly need updating on a regular, possibly annual basis. Do your retail audits reflect the current market situation? Are the attributes you follow in your brand image trackers accurately covering the strengths of the latest competitive launches as well as your own? Take each study and adjust for each brand in collaboration with your marketing AND sales teams.
#4. Share the Knowledge
Many organisations are afraid of competition getting a hold of their information, and therefore do not make it widely available within the organisation. Have you never learnt about something going on in your own organisation, but from competition? I know I have. Therefore the risks of tipping off the competition are far lower than others may think, so start to share the information you gather. It is amazing how much you can save when you do, as other departments often then discover that they are conducting research, or buying information and reports that are already available in-house.
#5. Integrate for Insight
Despite some managers still believing that insight is just another word for market research, insights are in fact developed out of multiple information sources. Whilst Forrester suggested that this could be managed by your suppliers, I believe that whilst they may help, true insights come from integrating information and knowledge from multiple sources, both internal and external. This means not only different projects, but also different departments that have differing perspectives and perhaps also different connection points with the customer. The insight group can help bring all this understanding together and develop actionable insights for profitable business growth.
Well those are my starter for five. What else would you add to help bring insight departments into the center of the brave new world of customer centric organisations?
If you carry out these first five steps that I have mentioned, then you will start getting more appreciation for the real value you are adding to the business. And then perhaps your budgets may even be increased, which will then lead to even greater value. Now that’s what I call a win-win and a really bright future for everyone in Insight! What do you think?
Do you need help in upgrading your market research or insight department? Check out our website for more actionable ideas and training, then contact me here:
There have been a lot of posts in the last few weeks suggesting we take a look back over our experience in 2012 or to start planning what we would like to do in 2013. I therefore thought I would combine both perspectives by reviewing how we can work more efficiently with customer underst anding and information to develop deeper insight and grow our businesses.
All organisations try to underst and their customers in order to satisfy their rational needs and emotional desires. The way they go about doing this however, can make a big difference in how successful they are. There are globally four ways we can consider to collect and then use information and knowledge about our customers:
This is arguably the most used “sight” in customer underst anding. We look back and record or measure what our customers did. Where they bought; how much they consumed; what advertising they saw and when. All these metrics are based on past performance and we often then use this information to estimate how healthy our br and and business is going to be in the future. This is based on the assumption that our continued efforts will be rewarded with similar, if not greater success. However, in today’s fast-paced world, nothing stays the same for long, especially not the customer.
Examples of hindsight are market shares, media consumption and shopping habits. Whilst br and equity can also be considered hindsight, it has been found that declining image often preceeds a sales decline, so could arguable be seen to contain elements of both hindsight and foresight.
This is the qualitative element of the previous “sight”. It helps us to qualify the decisions we take about what is important to measure before we do so, or can deepen our underst anding of the information we have already recorded. Management can sometimes feel less comfortable with this type of knowledge if it is not quantified by “solid” quantified information. However, it is a powerful way to more deeply underst and our customers’ thoughts and behaviour and to share it with others.
Examples of eyesight include observation and ethnography, as well as online social media discussions and chat.
This is what hindsight and eyesight should be developed into. This suggests that no one piece of research, nor one project should be expected to deliver insight. Insights come from combining different sources of information and knowledge into underst anding and insight. Until we underst and the “why” behind what we have found, it is unlikely that true insight can be developed.
Depending upon your definition of an insight, these can include a statement voiced from the consumer’s perspective of what their need is and what feeling they are looking to achieve in solving it.
Although a business can be successful if it develops insight, in an ideal world it should also be considering the future and likely changes to the current situation. This will enable an organisation to be better prepared to take advantage of future opportunities, as well as to plan for possible threats.
Going beyond insight to foresight can mean making ourselves uncomfortable by thinking about possible scenarios that perhaps we would prefer avoiding. However it is only by thinking about them and planning for our reactions in such situations, can we be best prepared to meet the challenges the future may hold.
Now that I have summarised the differences between these four sights, which are you using more often? To be successful we need to use all four, but not necessarily in equal proportions. Their use will depend upon the situation in which we find ourselves, but we need to be able to work with all four of them, in order for our businesses to remain healthy.
If we work mainly with hindsight, we risk being unprepared for market changes and new situations, so we need to strengthen our foresight. This can be done by following societal trends and developing future scenarios to challenge our thinking.
If we work mostly with eyesight, we may feel threatened by numbers and the chance of being proven wrong in our hypotheses and assumptions. Why not try quantifying some of our observations to see whether or not what has been observed is normal behaviour, or due to some sort of bias in sampling or due merely to our perception?
If you work in an organisation that runs a lot of market research projects and draws conclusions from each of them individually, it is time to strengthen your insights. If you don’t have a process for developing insights from information integration, then C3Centricity can help. Insight development can actually save you resources, since running an evaluation of what is already known may produce the required answers and avoid the need for further research.
Finally if you are living mostly in the future, you may be unaware of current opportunities / threats that quantification can indicate. Even when comfortable working with foresight, a business still needs to be managed on a day to day basis and for that, nothing beats a few numbers. Whilst foresight is essential to long-term business growth, the hypotheses must be based upon facts rather than supposition.
So, which sight do you need to strength in 2013? How are you going to do that? Start this New Year by taking a critical look at which ones you are most comfortable in using and decide to strengthen your other sights. Please share your thoughts with everyone below.
The end of a year and the beginning of a new one is a great time to consider what changes you need to make in your marketing.
What habits have you become so comfortable with that you don’t even notice or question them? With today’s fast-paced world, business needs to be constantly adapting and preparing for the future.
These thirteen (plus a bonus one!) marketing quotes are amongst my favourites of the moment and will hopefully inspire you to consider what changes you need to make in the coming year to become even more customer centric.
#1. “There may be Customers without Br ands, but there are no Br ands without Customers” Anon (>>Click to Tweet<<)
This has to be the most important marketing quote to remember for all of us wanting to be more customer centric. Br ands depend upon customers and if companies remember this, then they can only succeed. If however they get so tied up in their products & services that they forget their customer, they may enjoy their work but their br ands will always be vulnerable to competition.
#2. “Nothing can add more power to your life than concentrating all your energies on a limited set of targets” Nido Qubein (>>Click to Tweet<<)
One of the biggest mistakes marketing can make is to not appropriately define its target audience. It is underst andably hard for a br and manager to accept that he can’t please all category users and that his target sub-category is smaller than the total category he thinks he could attract. By trying to please everyone, we end up pleasing no one, so bite the bullet and reduce your target category size by more precise audience selection. More on targeting HERE.
#3. “The more you engage with customers the clearer things become and the easier it is to determine what you should be doing” John Russell, President, Harley Davidson (>>Click to Tweet<<)
If it isn’t already included, then every employee should have customer connection added to their annual objectives. Whether they are the CEO, an Executive Vice-President, a machine operator, sales clerk or br and manager, they all need to underst and how their day job impacts the satisfaction of their customers.
#4. “If you use st andard research methods you will have the same insights as everyone else” David Nichols (>>Click to Tweet<<)
When was the last time you revised your market research toolbox or refined your insight development process? It’s a rapidly changing world both technologically and societally-speaking. The methods you use to observe, underst and and eventually delight your customers should be moving as fast, if not even faster, to stay in touch with the market. If you are interested in a 1-Day Catalyst session reviewing all your methodologies and metrics contact us HERE.
#5. “The structure will automatically provide the pattern for the action which follows” Donald Curtis (>>Click to Tweet<<)
There has been a lot of discussion about the new roles of the CMO, CIO and the creation of a new CCO (Chief Customer Officer) position. Perhaps it is time for your organisation to review its structure and see if it is still optimal for the business of today, as well as of tomorrow. As mentioned above, the world is changing rapidly and you need to keep abreast of these changes to stay in the game. Who wants to find themselves the equivalent of the Kodak of 2013?
#6. “Customer Service shouldn’t be a department, it should be the entire company” Tony Hsieh, CEO Zappo’s (>>Click to Tweet<<)
This is one of my all-time favourite quotes from a man I truly admire, for truly “getting” customer centricity. Their slogan is even “Powered by Service”! As already above, every single person in a company has a role to play in satisfying the customer. Zappo’s have an integration program for all new hires – including the EVPs – that includes time at their call centre answering customer queries. What a great way to show a new person what the company is really about. Why not start a similar introduction in your own company?
#7. “The real voyage of discovery consists not in seeking new l ands but seeing with new eyes” Marcel Proust (>>Click to Tweet<<)
Today’s customers are very dem anding which has prompted many companies to increase their innovation and new product launches. However, it has been shown that renovation is as important as innovation in keeping customers satisfied (find link to relevant articles HERE). Instead of forcing your marketing and R&D to meet certain percentage targets, most launches of which will be destined to failure according to latest statistics, why not review your current offers with new eyes? If you truly underst and your customers, you will quickly find small changes that can make a significant impact on customer satisfaction and loyalty, when you take their perspective. And as an added bonus, if it solves a frustration of theirs, it might even bring you increased profits, since the perceived value will be higher than the cost.
#8. “A br and for a company is like a reputation for a person. You earn reputation by trying to do hard things well” Jeff Bezos (>>Click to Tweet<<)
In the past most companies were more concerned with the reputation of their br ands and forgot that of the company, other than with investors. As consumers become interested in knowing and adhering to the policies of the companies behind the br ands, it is vital to manage both from the customer perspective. In addition, if your company isthe br and, will be closely associated with it, or you are considering adding it more prominently to your packaging, then this becomes vital to follow.
#9. “The journey of a thous and miles must begin with a single step” Chinese Proverb (>>Click to Tweet<<)
Today’s customer often has a more complex path to purchase in many categories, so thinking of the simple awareness to loyalty funnel becomes less relevant. In order to underst and the purchasing of your br and, think information integration, as customers are becoming as savvy about products as they are about themselves. They seek out information, usually in relation to the size of the budget they will spend, and take the time needed to make what they consider to be an informed decision. Check whether you are in every relevant touchpoint with appropriate information for them.
#10. “However beautiful the strategy, you should occasionally look at the results” Winston Churchill (>>Click to Tweet<<)
If your world had changed then so should the metrics you use to manage the business. The new year is a great time to review last year’s business results in comparison to the metrics you have been following. Were you correctly assessing the environment, the market and customer behaviour? If not, perhaps you need to redefine your KPIs.
#11. “The fear of being wrong is the prime inhibitor of the creative process” Jean Bryant
Do you embrace entrepreneurship in your organisation? What happens when someone fails whilst trying something new? The more accepting you are of relevant trial and error exercises, the more likely your employees are to share their more creative ideas. If failure is punished, then they will be reluctant to try or even propose new things and your business will stagnate. This is a great time to review your ways of compensating creativeness as well as how you share learnings from failures?
#12. “Where is the wisdom we have lost in knowledge? Where is the knowledge we have lost in information” T S Eliot
Do you ever take decisions based on information or knowledge? If so then perhaps you should reconsider your insight development process. Whilst information and knowledge are essential to deeper underst anding of your customers, it is only when you have integrated everything you know and underst and about them, that you can begin to develop insights that will positively impact your customers’ behaviour.
#13. “If you can’t sum up the story in a sentence, you don’t know what you’re talking about” Garr Reynolds
How about making 2013 the year that you moved from PowerPoint presentations to Prezi storytelling? Even if you remain with whatever software you are currently using, taking the decision to share information and underst anding in a new way through storytelling, will have a profound impact on the way your employees think and remember the essential underst andings of your customers.
Finally, if you take only one message out of all these suggestions, I hope it is this one, which to quote Charles Darwin is:
“It is not the strongest of the species that survive, nor the most intelligent, it is those most responsive to change”
2013 is going to be a year of considerable change for us all; let’s manage it rather than just suffer its impact.
If you have your own favourite quote that inspires you to change your business practices in 2013 , then please share it below. We would love to hear your own inspiration.
Do you struggle to develop insights from your market research studies, or to identify clear actions out of your insights? If so, then you must read this post on how to deliver actionable insights.
There are many reasons why organisations struggle to develop actionable insights. Yet a recent report by IBM suggested that 80 percent of CMOs rely on traditional sources of information, such as market research and competitive benchmarking, to make strategic decisions.
Although they may be limiting their customer underst anding by not tapping into all their information sources, market research remains a major input to decision-making for marketers. Therefore it is essential for business to make maximum use of it.
Here are four tips to help you do both insight development and action identification better:
#1. Know why you are running the research project.
Market research is often run before people really know why they are conducting it. When you have identified a gap in your knowledge, start by conducting a complete review of all available information about the opportunity or issue you have identified. This is the only way to ensure you are spending your budget wisely on filling the knowledge gap. It is amazing how many companies work in silos and don’t share information across departments. Make sure you’re not one of them.
#2. Don’t expect the study to deliver insights
Although you need to develop insights to support your future decision making, don’t expect that they will come from the single study you are now planning. Insights are developed from the integration of numerous market research projects, information, observations and consumer connections. It is highly unlikely that one project will deliver an insight; however you can expect it to improve your knowledge of the market. Additional work will be required to build this knowledge into customer underst anding and this can only happen through integrating it with your other information.
#3. Base your insight on a human truth
Once you have identified a number of insights – although I personally would prefer to call these underst andings – you must develop an insight that is powerful enough to impact customers’ behaviour. The best way to do this is by referring to their need state and how your product or service will impact and improve their position. What benefit will your customers get from using your product? How will their thinking and behaviour be changed? In an ideal world, what changes are you looking to achieve?
#4. Identify your action
If you have developed a true insight based on a human truth, it becomes relatively easy to plan the actions needed to change your customers’ thoughts, beliefs and behaviours. Should you struggle to identify the actions to be taken, then it almost certainly means that your insight has not been sufficiently refined, so go back and rework its wording.
These four simple steps are the heart to the successful development of actionable insights. It is how you too can successfully impact your business and deliver true return on your information investments. Without the development of actionable insights, you are likely to be considered a cost and run the risk of suffering budget cuts when times get tough. Which is a pity, since it is exactly at that moment that businesses need the most support in underst anding what is going on.
Let me know if you agree that these are the most important steps to achieving actionable insights, or if you have others to add.
Are you struggling with a sub-optimal insight development process, or lacking clear actions from them, then why not contact us for an informal chat?
A recent Infographicgot me thinking about what has and hasn’t changed in customer service thanks to social media. In fact I should have said what has still not changed and MUST change in the very near future.
If you feel that you haven’t made all the necessary changes to meet the challenges of the new social customers and their dem ands, then read on for four actions you should be taking to improve your customer service.
Marketing, Sales and Customer Service all have contact with customers and therefore also responsibility for them. Today these departments must work more closely together to provide a seamless connection with the customer. They need to build on each other’s efforts to satisfy the customer, so that each customer perceives that there is one company working to delight him and that he is really important to them.
Action: Employees from all customer-facing departments need to meet regularly, at least monthly, to exchange and share their latest experiences and learnings. What are customers talking about, complaining about or dreaming of? What new opportunities are there to get ahead of competition in better satisfying these current or latent needs? Organise regular exchanges or “lunch & learn” sessions and if you work in the USA recognise your most active employees by signing them up in the “Most Engaged Employee Contest”.
Most organisations underst and the importance of their customer, and we all know they are more than ever in control thanks to social media. However, few companies are investing in developing their customer centricity and keeping their customer database current. Business needs to start walking the talk so their customers notice and feel a difference in how they are being treated, listened to and satisfied.
Action: Did you know it costs about 8 times as much to acquire a new customer as it does to retain a current one? Review how you collect and store your customer information. Have you verified their details in the last year? Most companies have upwards of 28% of their database which is out-of-date; when did you last check your own level? Is data stored by br and or business unit? Integrate the information, so the connection with your customer is seamless, more intimate, knowledgeable and fulfilling for you both.
Social Media connections are growing exponentially but is your organisation staying ahead of the curve?. Recent figures from the latest Burson Marsteller Global Social Media Check-up 2012 suggest there are more than 10 million references to major global companies on social media every month and more than half of these are are on Twitter. Companies need to be following these discussions in addition to responding to customers in the usual way through call centers, email or postal mail.
Action: Review and revise your care center resources and training. Ensure you have a sufficiently growing number of trained staff to be available when the customer most needs to contact you. Provide the customer service agents with the knowledge, information and authority to respond to customers on social media as well as over traditional contact means. Remember that nothing disappears on the web, so written responses need to be accurate, precise and appropriate. If not you may fall into a PR disaster similar to the one Nestlé found itself in on its Facebook page in early 2010.
Did you know that customers expect a more rapid response to queries than they are used to getting? This is driving them to non-traditional methods of interacting with customer service agents such as chat and social media. According to the latest State of the Industry report from Acxiom and Digiday 74% of companies cannot respond to customers in real-time. How have you changed your care centres to respond to this dem and?
Action: Review your current customer service practices to ensure you are responding to your customers’ dem ands in real-time or at least offering a short-term solution. Have you made your agents available 24/7 or found a way to propose an alternative solution to customers who might contact outside normal working hours but when they are most likely to need help with your product or service? Customers expect answers within one to four hours these days.
These are the four essential steps that most organisations have still not taken to respond to the new social customer and their increased dem ands. What are you waiting for?
If you have taken other steps to optimise your organisations customer centricity to respond to the dem ands of the social customer then please share them here.
Why are so many businesses looking at building a Customer Excellence (CE) department today?
Customers, consumers and clients are demanding more attention; they want to be heard, they want to be seen and understood for who they are; they want their needs and desires answered. Social media has increased our attention to them, but many organisations are still struggling to walk the talk of customer centricity. If this is your own case and you are looking to develop customer excellence, then this post is for you.
Several companies have contacted me in the last few months, to ask for help in creating a Consumer / Customer Excellence Department. Having already gone through the challenges of doing this when I worked in the corporate world, I knew that I could certainly help others with this exciting objective. However, each time, my first reaction was to ask “Why”; not why they had contacted me but why they wanted to create the group and why now?
It is often the CEO or CMO who makes the original request, since they feel that the company is not paying enough attention to their customers. However, the initiative will only succeed if everyone in the company not only buys into the vision, but is also excited by the changes it will bring.
Let me share some of my own experiences to help you on your own journey, by illustrating a few of the imperatives to succeed in such an initiative:
#1. CE should report into the Board
This new department must report into the board and ideally have a seat there too. The initiative must be seen as an organisational and not a departmental objective. If CE reports into marketing, it will be seen as a marketing support group; maybe just a new name for the traditional marketing services, market research or insight departments, as I am sad to report was once said to me by my CEO!
#2. CE should group all customer-facing departments
Customer Excellence should include all customer-facing departments, including market research and insight of course, but also care centres, consumer services, web services, CRM and perhaps even the promotions teams.
This means that CE will watch over both personalised and anonymous connections with customers, but these can provide valuable information that can be integrated and used cross-functionally.
#3. CE ensures the business connects with the same tone & vocabulary
Every personalised contact with the customer must use the same tone and voice. They should also be based upon background information about every previous connection, by whatever medium used. In this way, the customer who already sees them all as links to the company, will perceive that the business cares about them and wants to build a deep relationship and understanding of their needs and desires. Everyone likes people who take a positive interest in them, so this is a true win-win.
#4. CE should be multi-category
In order to truly integrate all the knowledge and understanding, the CE group should also work across categories and brands in a multi-category company. In this way they will comprehend the person as a whole, and not just as a category user.
This also has the added benefit of giving the organisation an opportunity to cross-sell and up-sell when a connection is made, by proposing appropriate products and categories.
I am sure you have all been contacted at some time in the past for an inappropriate product, by a company that didn’t do this, right? For example diapers promoted to single men, a new desert to people on a diet or who are diabetic, innovative new alcoholic beverage to teetotallers etc etc. Irritating for the customer and damaging the image of the brand.
#5. CE should be Global
Wherever relevant, Customer Excellence should have a worldwide remit, integrating all regions and markets. This enables them, and the business, to be aware of global as well as regional category and societal trends, which in turns helps the company be prepared for future opportunities and challenges.
In addition, this can build a useful community spirit, especially in decentralised organisations. Markets should always be looking for information from countries ahead of them on any relevant trends, whilst also looking back to help those who are following them on other trends.
The book Winning Customer Centricity: Putting customers at the Heart of Your Business – One Day at a Time includes a simple roadmap for adopting a customer first strategy. It covers the four foundational topics that need to be addressed.
Find out more and about the book and reserve your spot for the webinar:
Most organisations today follow trends, but these do not bring competitive advantage unless they are developed into future scenarios. By doing this, Customer Excellence can prepare management for the future, identifying possible changes to the market, so that opportunities can be grabbed and response to possible challenges well prepared in advance.
Business relevance will always be higher for scenarios than trends. In a regional or multinational organisation, scenarios can help markets to be better prepared, by sharing information across borders and continents, rather than using geographic closeness to define regions.
Language rather than geography sets the boundaries in todays connected world, so innovation and new product roll-outs should follow them. Surprisingly, companies still favour launching based on market proximity; this is a big error.
By being market and brand agnostic, the Customer Excellence department is free to give advice and to share their true opinions, without fear of upsetting the business unit or regional head. Corporations today must get comfortable with cross-departmental team working and the creation of a Customer Excellence department is a great way to catalyse this change.
#8. CE should Integrate all Customer Information
Understanding and insight development from the information gathered by market research, sales, marketing, finance, supply chain, and all the other available sources within an organisation, can only come from total data and knowledge integration. Consumer Excellence can again provide the analytical expertise and the cross-category perspective to reap the full benefits for everyone.
Having a one-stop shop for a company’s customer and market information, knowledge, understanding and insights means that work is not replicated when requests come in from different departments. Additionally, multiple categories may be interested in similar target groups, which means that customer excellence can provide deeper insights to both groups without twice the work.
#9. CE should cover costs through better negotiation
This also applies to the purchasing of external information and reports. Few suppliers would ever tell a company that they have already purchased a report or database. They are happy to make that second or even multiple sales to different departments within an organisation. However, if all information requests are handled by one group, companies can certainly avoid this and also negotiate better deals for multiple purchases for reports that are relevant in several business units and which should be made available across the organisation.
This is a particularly valuable additional benefit for decentralised corporations, since there is generally little collaboration at the purchasing level. However, from my own personal experience, savings can even be found for centralised enterprises, through simply negotiating volume discounts.
#10. CE Ignites Customer Centricity & Business Growth
Last but not least, the customer benefits from a CE function, since all employees are thinking about the role they play in satisfying them. Becoming customer centric is a long journey, so the more people that are involved at the start, the more likely that cultural change will happen. This is because each employee reinforces the thinking of putting the customer at the heart of the business.
To conclude, the creation of a Customer Excellence department sponsored at board level, can put the customer at the heart of the company, as well as of every department within it. The business will benefit, the customer will benefit and hopefully the employees too.
What have been your experiences with the creation of a Customer or Consumer Excellence Department? Please share your own stories here and add the other benefits you have found from your own experiences.
For more about the processes of enhancing customer centricity or creating a Customer Excellence Department, please check out our website: https://www.c3centricity.com
We are lucky to be living in an information rich environment, where numerous data sources are readily available to us.
However, this can also be a challenge since we are usually:
“Drowning in data and starving for insight”
as I have often been quoted.
If you too are drowning in data, take a look at these four easy steps you can take to meet the challenge of better insight development. We call them the four “I’s” of Insight development to impact business:
Step 1 – IDENTIFY: first identify the most relevant pieces of information for the issue or opportunity you have selected to address, as well as for the business or industry you are in. How do you decide what is relevant?
Look at who your target audience is; what do they like to do in their spare time; what are their hobbies; what are their needs, desires and dreams; what motivates them; what are their basic values? What are they tweeting and blogging about? Do they speak about problems they have with the products and categories you are reviewing? All of these will help you to really underst and them and what issues or opportunities there are for your product or service and br and.
Step 2 – INTEGRATE: once you have gathered and prioritized the most valuable sources of information, it is necessary to integrate them in order to reap their full benefits. Customer information and facts that are integrated help to build deeper knowledge. It also enables the extraction of essential underst anding on which the business can grow.
Data integration can be done manually or using technology, which is advisable when managing large amounts of information. Integration of underst anding can be done by looking for themes and key topics that get repeated across the different sources.
Step 3 – INSIGHTS: after integration of the information, you need to develop the insights. If you haven’t already done so, get a mixed team of experts from different relevant departments together to review all the information, and have the project led by one of your Market Research or Insight group. They will love both the recognition and the challenge of running an insight development session, using everything that has been gathered and integrated.
Step 4 – INSPIRE: as the team begins to hypothesize insights coming out of the information, find someone who can then synthesize their findings into a compelling story. Storytelling will fire enthusiasm into both the team and the company at large, and everyone will be more ready and willing to take the required action. Storytelling helps the findings and insights to be transmitted to all interested parties within the organisation. In some cases, a presentation using storytelling is sufficient for decisions to be made.
How do you develop insights in your own organisation. Do you have other ways to integrate information and knowledge? Please share your ideas with everyone.