From customer insight to business growth

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Improve competitive strength through market intelligence.
On Friday 20 September at 09:00 – 12:00, Implement Consulting Group had gathered more than 30 commercial managers to an event focusing on proactive use of market intelligence.

Ditte-Maria Heide Kristensen, Head of Business Development in Danske Spil introduced the background and the thinking behind the latest business development initiatives based on true customer insight. Danske Spil went from true monopoly to fierce competition in January 2012 by the liberalisation of the gaming market in Denmark. But despite the fact that the liberalised part of Danske Spil now had to compete against strong international players in new product areas, Danske Spil has grown substantially.

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From customer insight to business growth

  1. 1. From customer insight to business growth ComEx 2013 – Commercial Excellence Forum Why and how to transform customer insight into action
  2. 2. 2 Commercial Excellence Forum Planned Meetings in 2013 January 18, 2013 Segmentation and Go-to-Market strategy May 24, 2013 How to create unique value proposition and successful differentiation September 20, 2013 From customer insights to business growth November 15, 2013 Pipeline Management & CRM
  3. 3. 3 Agenda  Welcome & Introduction  From customer insight to business growth  Case: Danske Licens Spil – Grow the business with strong customer insight  How do you ensure proactive use of customer insight?  Exercise in groups : How can you grow your business based on customer insight?  Summing up the Commercial Excellence Forum event
  4. 4. 4 What does it take to drive topline growth? Competence? Experience? Luck? Customer Insight -can be turned into magic! ?
  5. 5. 5 Topline growth is a customer issue The company is the owner of the cost structure in a company… The customer is the owner of the future revenue. That is why understanding customer needs and building customer insight has to be the focal point for developing any business… 5
  6. 6. 6 Classic Dilemma 1# - what is the right insight to generate growth? Earning Benefit Outside-in growth thinking True value innovation ”We are in the market of fulfilling needs – not selling products! Mr. and Mrs. Right
  7. 7. 7 Classic Dilemma # 2 - How to align company perspective with the customer?  Value adding services in a full (customer) perspective  Growth generators often appear outside the existing market definition  Customer insight should not be confused with customer journey insight or touch point insight – it is much broader.  Differentiation – and willingness to buy – is very often found outside the traditional value chain… Web suppliers’ value chain TransportaionGo to Stores’ value chain ShoppingInspire Consumers value chain Channel Consume Waste / budgetPlanning Customer value chain is underestimated as key to growth
  8. 8. 8 Company vs. Customer value chain… Danske Bank - tanker til inspiration Savings and investment Net banking - transactions Property financing Mobile banking - overview Daily contact Loan / cash Pension – securing ‘old age’ SupplierValueChain Customersaddvaluetothebank The value chain in a 360º perspective Sparring partner Gathering the family’s ecoonomy ‘Education’ in creating an economic profit Comfort and security Lifeline (available) Securing the future (proactive planning) Help to self-help Freedom of consumption 24/7 service CustomerValueChain Thebankaddvaluetothecustomer
  9. 9. 32 The key is to think outside-in OutsideCompany focusIn Bonds Drivers Motivations
  10. 10. 33 The process of implementation starts with the customer and ends with the customer…
  11. 11. 34 Customer insight as a game changer in the business development - Guiding principles Transform insight into a action Broaden the perspective beyond existing market definition by looking at how customers react today in the market Understand the underlying needs and validate in large scale to reduce risk in business development Define quick wins, projects and transform into strong go to market approach
  12. 12. 35 #1 -Topline growth is about meeting the right customer needs… Developing new break-through ideas is all about matching a product attribute with a customer need in order for it to transform into a strong consumer benefit… A need is like a coat rack. It is ‘the carrier’ of a product (feature). If a product (feature) does not fit, it falls to the ground… 35
  13. 13. 36 #2 Needs are a motivator – not a solution A need is not the same as a solution: • People has no need for an internet bank. They have a need to access their money when ever and how ever The need is the fundament of any successful innovation: • A product becomes a success BECAUSE there is a need for the product. A need may not follow the definition of a market: • Customers do not think in branches and businesses • Their needs are typically evolving by mixing experiences together.
  14. 14. 37 #3 Choose the right research method Do’s  Qualitative research methods reveal the underlying motives  Qualitative techniques are matched to the market dynamics Dont’s • Qualitative research is not suited for final decisions and ready-made solutions to be implemented Do’s  Qualitative findings can be validated in a strong choice test  The research should be based on disclosure of needs formulated as positive benefit statements. Don’t’s • Conjoint tests is not suited for mapping needs and many variables A strong research method is a fundament for reducing risk in decisions making
  15. 15. 38 #4 Give the customers’ voice sufficient focus and priority PART 2: PERFORMANCE PART 3: BACKGROUNDPART 1: IMPORTANCE Ranking of customer benefits by disclosing the least important needs (found in the qualitative process) Reveals the customers’ preference and how well a product category is perceived Identify the customers’ views on needs fulfillment Maps the customers’ needs structures Using importance module together with back ground information Profiling segments based on their needs Accept a survey to be comprehensive. The more details the better decisions
  16. 16. 39 #5 Prioritize ideas after customer impact Quick wins are often ideas that haven’t been communicated sufficiently Customer Impact Ability to implement HighLow High Projects Quick wins Walk away Wait for now
  17. 17. 40 #6 Markets standards should meet the needs in the market Performance Most important Less important Low High Importance of needs INCREASE PERFORMANCE ON MOST IMPORTANT NEEDS … BY REDUCING FOCUS ON LESS IMPORTANT NEEDS Implementation plan focus on leverage and increasing performance perception
  18. 18. 41 Discuss in groups… • From business insight to action: What are the 3-5 main barriers in your company to exploit all the business insight you have about customers needs. Discuss and write down 3-5 barriers each on yellow cards. • Overcome the barriers: Discuss how to overcome the barriers – please challenge each other and write your ideas on green cards. Exercise
  19. 19. 42 Exercise: Main barriers and how to overcome these The identified barriers • CEO need to believe in customer insight • Quantify the insight value vs. ”traditionel” excel business cases • Too little insight about the end user • Perception vs facts • To gather real insights cross silo´s • Thinking the 360 perspective • To get the organization to act upon the insight • The resistance towards change • IT systems • Lack of knowledge as regards the total value chain • Harder to change existing proiduct/service areas as new ones • Transfer of insights to real specific value • Complex buying center – many stakeholders • Risk aversion • The real understanding of customers customer • Internal competencies • Information overload • Strong culture • Do we ask the customers in the right way ? • Wrong customer segmentation How to overcome the identified barriers • Create organisational structures – se leadership model • Insights and customer promises on segment level – not ”one size fits all” • Create local ambassadors • Holistic plan & execution • Focus on the burning platform • Commitment in top management • Create mini-projects • Use cases as ”proof of concept” – show the value • Use reference stories • Balance between tailor-made products and the internal procedures • Focus on the value drivers of the customers • Specification of customer oriented activities cross functions • Measure and management follow up • New capabilities and create the right team • Cross functional involvement in all customer oriented changes • Stress the burning platform or explain ”what´s in it for me” • Focus on long-term activities
  20. 20. 43 Commercial Excellence Forum Planned Meetings in 2013 January 18, 2013 Segmentation and Go-to-Market strategy May 24, 2013 How to create unique value proposition and successful differentiation September 20, 2013 From customer insights to business growth November 15, 2013 Pipeline Management & CRM
  21. 21. Contacting Implement Consulting Group Learn more about Commercial Excellence Forum Go to Implement Consulting Group's main website
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