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Msms2015 adopting holistic customer insight public
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Helping you Maximise the Value of your Customer Insight at Laughlin Consultancy LtdAdvertisement
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Msms2015 adopting holistic customer insight public
- Paul Laughlin, Managing Director, Laughlin Consultancy @LaughlinPaul Adopting Holistic Customer Insight #MSMS2015 © Laughlin Consultancy Ltd, not to be used without permission.
- Customer insight makes money © Laughlin Consultancy Ltd, not to be used without permission.
- Customer insight sustains value © Laughlin Consultancy Ltd, not to be used without permission.
- Customer insight sustains value © Laughlin Consultancy Ltd, not to be used without permission.
- What is customer insight? ❖ Data ❖ Analytics ❖ Research ❖ Database Marketing “A non-obvious understanding about your customers, which if acted upon, has the potential to change their behaviour for mutual benefit” © Laughlin Consultancy Ltd, not to be used without permission.
- How does it add value? © Laughlin Consultancy Ltd, not to be used without permission. Insight Value Creator Customer Strategy Voice of the Customer Targeted Customer Interactions Evidence of Customer-Centricity Product/Channel Neutrality
- Silos in your Customer Insight Product 1 Product 2 Brand A Brand B Brand C Channel A Channel B Finance Marketing Service Data team Analysis team Research team
- Challenges of Multi-Channel Data Customer Data © Laughlin Consultancy Ltd, not to be used without permission. • Map common customer journeys • What do you need to know to improve? • Capture data that you need to use • Use Data Modelling to design storage
- SCV options
- Data Privacy (ICO)
- Analysing your Customers © Laughlin Consultancy Ltd, not to be used without permission. Customer Analysis Segmentations to guide Participation Behavioural Analytics to guide Proposition design Predictive Analytics to target Promotions Marketing Analytics to measure Profitability
- Researching your Customers © Laughlin Consultancy Ltd, not to be used without permission. • Customer Metric (NPS/CES/CSat) • Focus Groups/Panels/Ethnographic etc • Primary research (after secondary) • Interpretation (inc. behavioural biases) Customer Research
- Analysis + Research Why will they churn? Do we care?Are they likely to churn again? Would we succeed? High price, lagging product, poor service ... Waive fee, free upgrade, product bundle ... What could we do to retain them? 30% 70% T $ Current Value Lifetime Value Low High Who is at risk of churning? © Gareth Herschel,Gartner CRM Summit
- Database Marketing your Customers © Laughlin Consultancy Ltd, not to be used without permission. • Targeting • Executing • Measuring • Test & Learn as BAU Database Marketing
- Marketing Targeting Propensity to Buy Product Propensity to Product Loyalty Propensity to Repeat Purchase Propensity to Brand Response Propensity to Channel Response Timing Event TriggersLife Stages Suppressions & Permissions Optimal Aggregation Optimal Brand Optimal Channel/Media Target Segments Regional Focus Personalised Comms Attitudinal Offers
- Holistic Customer Insight Customer Data Customer Research Customer Analysis Database Marketing Feel Experiences Test Hypotheses Converge Evidence Structured questioning to generate Insights Consider in market & competitor context Visual communication of compelling stories © Laughlin Consultancy Ltd, not to be used without permission.
- 18 1. Cross functional teams review data, research and analysis to answer a set of core questions about their target customer and “map the evidence” 2. Those “Evidence Maps” are reviewed to identify key customer themes 3. Structured questioning techniques are used to dig deeper to develop insights A “Customer Insight” is: A non-obvious understanding about your customers, which if acted upon, has the potential to change their behaviour for mutual benefit 4. Insights are prioritised & converged with opportunity areas. to generate ideas Insight Generation Workshops
- Positive Case Studies
- Hybrid Skills needed ❖ Data Scientist ❖ Psychologist ❖ Artist/Storyteller ❖ Sales Coach ❖ Economist/Statistician ❖ People Leader © Laughlin Consultancy Ltd, not to be used without permission.
- Build an Action-Orientated Culture ❖ Need ❖ Actionability ❖ Output ❖ Progress ❖ Complete © Laughlin Consultancy Ltd, not to be used without permission.
- linkedin.com/in/paullaughlin paul@laughlinconsultancy.com +44 (0)7446 958061 Contacting me: customerinsightleader.com laughlinconsultancy.com @LaughlinPaul © Laughlin Consultancy Ltd, not to be used without permission.
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