WARC Path to purchase Insights keynote presentation


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This is my presentation 30.7.2014 at WARC Webinar. Path-to-purchase Insights. I've added descriptive text to slides along with links to my blogtexts and other sources for more information in Slideshare and http://www.futurecmo.org. Enjoy!

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  • I’ve been working on customer journeys, research methods, analysis, concepting and designign work since 2004.. A decade now. We first started with a team in Helsinki, back then I was working in Ogilvy’s Finnish branch with Jarmo Suominen, professor for masscustomization at MIT MediaLab. We created tools and methodologies together that are still the very foundation of my work and got great results for our clients. Since then the availability of data and possibilities of analyzing it have grown tremendously and their price has dropped enabling new ways of analysis work. When we really consider the customer behavior now and map it thoroughly, the amount of data and the complexity of information can feel rather taunting… Online, retail, social media, advertising, aggregators.. Millions of people living their lives and doing what they do. This complexity needs to be reduced with insights. So, in this presentation I’m giving you some of mine. I hope you find them enlightening.

    Some major game changers during the last decade that have influenced the Customer Journey’s meaning in the ecosystem:
    Social media, market transparency, social influence.. Ratings, recommendations etc.
    Analytics – increase in the availability of data and analysis tools & decreasing cost of technology
    Service Design emerged as a new set of tools and methodologies
    Behavioral Economics emerged as a new science

    +358 50 55222 76
    Twitter @Toni_Keskinen

  • Customer behavior dynamic #1: The customer is buying in a familiar category, understanding the ground rules, knowing the brands in the market etc. The customer feels rather secure and confident about making choices
  • Customer behavior dynamic #2: The opposite to #1.. customer is buying in unfamiliar surrounding, from un-known category. The customer needs to LEARN alot before he can understand the category, what is meaningful in it, how to compare options, become aware of brands and players in respective category etc. Only after learning, can customer start ruling some options out and finally end up with a decision.
  • Customer dynamics #3: In case of the blind buyer, or very important, high interest or high involvement category the customers are willing to make an effort and learn, spend time comparing options. In some cases like fashion, such behavior is not actually considered an effort or struggle, but rather entertaining way of spending time. The key though, is that these customers are willing to learn, share, discuss, evaluate and make choices based on their personal vision.
  • Customer dynamics #4: it’s all about convenience and timing. This is an email from a contact lense seller which has made me completely loyal buyer for the past 3-4 years.. And I didn’t even recall the brand before using it as an example in my book. When my contactlenses should be running out, this is the mail they send me with a one-click-buying-button (green one: “repeat purchase here”) In case I didn’t instantly buy, I went back to my email and SEARCHED FOR CONTACT LENSES! I would find this email and repeat purchase.. Handy, effective, convenient and I’ve never had a reason to look for another option.
  • The brand’s best position in Channel efficiency.. BECOME CUSTOMER’S GPS!
  • Brand is the first thing you have got and it influences the journey very much. Even before initiation when customers yet realize they will be in the market soon… That’s about awareness, image, brand related attributes etc. However, take a step back and think, what are the brands in your category? For example in case of hotel buying, it might not be Hillton or Radisson.. It might be hotels.com instead.
  • MORE:
    http://futurecmo.org/2013/08/29/hbr-the-truth-about-customer-experience/ >HBR’S “TRUTH ABOUT CUSTOMER EXPERIENCE ARTICLE”
    http://futurecmo.org/2012/10/21/customer-decision-making-journey-flow/ >COUNTER ARTICLE FOR MCKINSEY’S CUSTOMER JOURNEY THINKING
  • Channels are actually secondary to understanding the stages.. The meaning of each stage can vary tremendously. Check out http://futurecmo.org/2013/06/08/choosing-and-buying-cross-channel-influence/
  • The great challenge is not in customer view.. It’s in siloed organization that just doesn’t work anymore without understanding the entire customer journey and adapting organisation, KPI’s and operations around it
  • Between silos there are often huge gaps.. Blind spots. These blind spots hinder companies executives from seeing forest from the woods. The insight in the book is that what makes us effective in our daily lives and business – efectively makes us blind to things that happen outside our specialist view. In the connected and omni-channel environment such thinking can cause devastating gaps, failier in strategic decision making and eventually… well, let’s see the next page
  • You find this symptoms familiar? More > http://www.slideshare.net/ToniKeskinen/intelligent-company
  • When you are measuring how well your company’s channels are performing.. This is an excellent approach.
  • WARC Path to purchase Insights keynote presentation

    1. 1. Toni Keskinen, CEO Future CMO – Catalyst for Growth Toni.keskinen@futurecmo.org +358 50 5522276 http://www.futurecmo.org WARC WEBINAR Customer’s Path to purchase
    2. 2. 8/2/2014 2
    3. 3. 8/2/2014
    4. 4. Behavioral Economics & Choice Architechture..
    5. 5. Design for most important behavioral patterns & preferences =High conversion & Channel Efficiency Bad design = customers will find their own shortcuts and find their way without your influence © FutureCMO.org
    7. 7. Brand as a platform Choose & Buy Initiation Use (or deliver service) Loyalty Brand health Prompt concious consideration (Non- commercial and commercial reasons) Context Frequency Volume Customer value Value-in-use Etc. New need Re-purchase Discontinuity Competitor actions Attrition/ Winback Re-consideration Kept Won Lost AttritionDon’t even consider the brand Awareness TOM Liking Preference Image Cross-channel search, learning and consideration process. Purchase/ transaction Customer journey PATH TO PURCHASE CUSTOMER RELATIONSHIP © FutureCMO.org MORE: http://futurecmo.org/2013/08/29/hbr-the-truth-about-customer-experience/ http://futurecmo.org/2012/10/21/customer-decision-making-journey-flow/
    8. 8. CUSTOMER’S CROSS-CHANNEL PATH TO PURCHASE Channel 1: Customer Service Channel 2: Internet Channel 3: Media/PR Channel 4: Store Channel 5: Advertising g Channel 6: WOM Stage 1: INITIATION Stage 2: LEARNING Stage 3: CHOOSING Stage 4: DECISION Stage 5: PURCHASE © FutureCMO.org MORE: http://futurecmo.org/2013/06/08/choosing-and-buying-cross-channel-influence/
    10. 10. 0% 100% 100% 100% Customer journey dynamics -Activity / decision weight & intensity INSENSITY 3i = Interest, involvement, investment Profit margin % +++ Profit margin % --- BUYERSELLER Active partyActive party © FutureCMO.org
    11. 11. 0% 100% Timeshares Customer journey dynamics -Activity / decision weight & intensity 100% 100% BUYERSELLER Active partyActive party Profit margin % +++ Profit margin % --- INSENSITY 3i = Interest, involvement, investment © FutureCMO.org
    12. 12. 0% 100% 100% 100% Customer journey dynamics -Activity / decision weight & intensity INSENSITY 3i = Interest, involvement, investment BUYERSELLER Active partyActive party © FutureCMO.org Potential customer Passive sales target Current customer now Skeptic. Pays attention, but is Waiting for a contact. Passive Current customer goal Active partnership
    13. 13. The challenge = organizational silos 8/2/2014 Need, attitude Awareness Learning & comparison Decision Transaction Loyalty? Recommendations? A I D A CRM MARKETING SALES RETAIL ONLINE SERVICES CUSTOMER SERVICE AFTER SALES CRM INVOICING © FutureCMO.org
    14. 14. (CORPORATE) MORE: http://www.slideshare.net/ToniKeskinen/intelligent-company
    15. 15. Business Dynamics Score= Channel performance measurement Original preference 42% Preferred competitor 28% No preference 30% Kept 95% Lost 5% Won 70% Lost 20% Won 88% Lost 12% Won +46% Kept +40% Lost -14% © FutureCMO.org
    16. 16. 1. Data analysis & profiling about who the customers are 2. Map and analyze: Understanding the customer’s journey and company’s organisational practices, roles, responsibilities, data and IT capabilities across customer journey 3. eg. Customer’s holiday journey: Company’s operations & infra: 4. Service designing & -blueprinting the desired outcome and development. Define KPI’s in the design process! 5. Test, test, test, learn and improve continuously Design process 8/2/2014© FutureCMO.org
    17. 17. • Understand the entire customer experience from customer’s view including your competitors influence • Tear down organizational silos and organize for better experience • Define meaningful KPI’s across customer interfaces & journey and deliver the results to everyone involved • Test, test, test and LEARN • Automate for more proactive and caring experience Takeaways 8/2/2014 © FutureCMO.org
    18. 18. Introducing Founder & CEO Toni Keskinen 8/2/2014
    19. 19. Toni Keskinen is a recognized Author & Blogger 8/2/2014 2000, Digital Business 2001, Mobile marketing handbook 2013, The Customer Journey – from Product Centricity to Symbiosis Strategy Blog: http://www.futurecmo.org
    20. 20. ..also internationally Admap Best practice article: Mapping the consumer journey 8/2/2014
    21. 21. Client testimonial 8/2/2014 “You work like a doctor performing a balloon inflation surgery. You get your client’s corporate body’s blood and oxygen flow again.” Veli-Pekka Ääri, CMO, SOK SOK is the number one retail group in Finland, +12Billion € in turnover
    22. 22. Some endorsements for Toni Keskinen 8/2/2014
    23. 23. 8/2/2014 Some endorsements for Toni Keskinen
    24. 24. Thank you! contact: Toni.keskinen@futurecmo.org +358 50 55222 76 Twitter @Toni_Keskinen http://www.futurecmo.org http://fi.linkedin.com/in/tonikeskinen/ 8/2/2014