Big Data + Human Data for Customer Experience & Product Strategy
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Develop winning strategies for products by combining the power of big data and analytics with the complementary benefits of human data: a deep understanding of customers. It's the best recipe for success in the market.
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Big Data + Human Data for Customer Experience & Product Strategy
- 1. BIG DATA + HUMAN DATA FOR CUSTOMER EXPERIENCE ALIZA GOLD VICE PRESIDENT, EXPERIENCE STRATEGY & INSIGHT
- 2. We’re an experience-driven, end-to-end services company
- 3. SAY HI!
- 5. True? False? Organizations that invest in Customer Experience perform better than those that don’t.
- 6. Customer Experience Leaders Outperform the Market Eight-year Stock Performance of Customer Experience Leaders vs. Laggards vs. S&P 500 (2007 - 2014) 0% 20% 40% 60% 80% 100% 120% Customer Experience Leaders 107.5% S&P 500 Index 72.3% Customer Experience Laggards 27.6% CumulativeTotalReturn © Watermark Consulting Watermark defines Customer Experience Leaders and Laggards at the top ten and bottom ten rated public companies in Forrester Research’s 2007 - 2015 Customer Experience Index studies. Comparison is based on performance of equally-weighted, annually readjusted sock portfolios of Customer Experience Leaders & Laggards to the S&P 500 Index.
- 7. laptop tabletsales person advertisement phone store “SOMETHING PERSONALLY ENCOUNTERED, UNDERGONE, OR LIVED THROUGH” merriam-webster
- 8. Customer Feedback Voice of the Customer Customer Account Data Customer Social Data Channel Behavioral Data
- 10. RepurchaseRate 0% 10% 20% 30% 40% 50% 60% Subsequent Period 1st Year 2nd Year 3rd Year 4th Year 50% 42% 36% 32% 48% 38% 31% 27% 17% 14% 12% 11% 14% 13% 12% 11% Repurchase Rate Trend by Tier Tier 1 Tier 2 Tier 3 Tier 4 WHY?
- 12. WHAT v. WHY WHAT v. WHY
- 13. https://www.thinkwithgoogle.com/articles/why-consumer-intent-more-powerful-than-demographics.html
- 14. What underlying customer need is the experience solving?
- 15. HUMAN DATA! IT’S THE DATA THAT MAKES US UNIQUELY HUMAN…
- 16. “The problem is, no customer experience technology platform, by itself, can provide deep insights into why customers do what they do. These systems can track an infinite number of transactions, but they can't identify the key actions the company must take to gain more fully engaged customers.” http://www.gallup.com/businessjournal/185345/quantitative-customer-experience-metrics-aren-enough.aspx?utm_source=twitterbutton&utm_medium=twitter&utm_campaign=sharing Quantitative Customer Experience Metrics Aren't Enough
- 17. “Investing in user research is just about the only way to consistently generate a rich stream of data about customer needs and behaviors. As a designer, I can’t live without it. And as data about customers flows through your team, it informs product managers, engineers, and just about everyone else. It forms the foundation of intuitive designs, indispensable products, and successful companies. So what are you waiting for? Go listen to your customers!”
- 18. A devices company needed a disruptor. -Highest NPS score in their product line. -Largest SKU in company history. -Setup time reduced by 92%. All because of the Babysitter.
- 19. An Airline needed operational efficiency. “… our on-time performance is 10-15% higher than ever in the past after launch …” All because of new Improved Tools.
- 20. JUST ASK
- 25. video clip: frustration with incorrect loan Documents
- 26. Show & Tell Future envisioningActivity-based interviews
- 27. ConcernsOverview The Good Future Rachel & Tim Activities Desired Experience: RELEVANT & TRANSPARENT We have put all the wrong versions of our lending information in the burn bin. The never-ending mortgage application. Feeling angry and annoyed. This is the only document they gave us that made sense. It's got all of the information we need on it - and I don't remember what all of these numbers mean. 10% DOWNPAYMENT 30 YEARS TERM GOOD CREDIT SCORE MEDIUM CONFIDENCE LEVEL OWNERSHIP, LIFE STAGE/DREAM HOME VALUE LENDER AND/OR REALTOR IS PURCHASE ADVISER TRANSACTIONAL REALTOR INTERACTIONS MEDIUM TRUST IN REALTOR TRANSACTIONAL LENDER INTERACTIONS MEDIUM TRUST IN LENDER I’m sure he meets with lots of people, but if — this is kind of a unique situation, so I feel like if I were a salesperson, I would have remembered her two days later. And, when I called in and said, you know, “My grandmother, Rosemary Woods, was in talking with you for two hours on Tuesday, the day before yesterday” — he didn’t know who I was talking about… I’m sure everyone gets busy. I mean, I get busy at work. But, you’re checked in at some point or at least pretending to be checked in when you’re dealing with a customer.
- 28. STAGES READY TO BUY? PREPARING & SHOPPING FOUND THE HOUSE! APPLY FOR LOAN APPRAISAL & INSPECTION FINAL REVIEW CLOSE & MOVE IN INITIAL FINANCIAL EXPLORATIONS WORK WITH FINANCES & LENDER ACTIVITIES STEPS Evaluating my current situation Determining if it’s a good time to buy Making sense of the home buying process Exploring my financing options Calculating how much house and mortgage payments I can afford Preparing to qualify for a loan and checking credit score Saving money and deciding on a downpayment Casually browsing houses Picking a neighborhood Selecting & working with a real estate agent Searching for a good house to buy Calculating all potential costs — including closing costs, repairs, etc. Researching & selecting best mortgage options Selecting a mortgage lender Learning what we will quality for from lender & applying for pre-approval Continuing to save & work on credit score Making an offer on a house Finding out my offer is accepted Finding out my offer is not accepted Preparing a counter offer Gathering documents for loan application Filling out the loan application & submitting it Addressing follow up questions from lender Waiting on the lender to get back to me Scheduling & reviewing the house inspection Lender conducts a home appraisal Getting a home insurance quote Continuing to work with my lender/ underwriter Receiving my final loan approval Signing the loan documents Attending closing and becoming a homeowner Move into my new house Moving for work or family Pays attention to the market but sees it as subjective Buys when it’s convenient for him Feels knowledgable from previous home purchasing and refinancing Casually follows housing market investment news Uses mortgage calculators to confirm what he already knows Has a solid grasp on his budget and target mortgage payment Doesn’t expect to be surprised Knows his credit score is typically excellent Occasionally checks it online for unknown circumstances (parking tickets, Target breach, etc.) Will put down 20% to avoid paying PMI Enjoys browsing houses on his phone during commute Looks at listings when driving around, but tires at the thought of seeing too many houses Looking for ease of commute and lifestyle Delighted by on-site community activities (i.e. golf course in a planned community) Expects agent to provide a competitive advantage Looking for a new home with no renovation needs and little to no yard work Irritated that house hunting is a part-time job Prepared and willing to negotiate the best deal Anxious about exploring financing options even though he is financially stable Looks for easiest option with a decent rate, often his current bank Would consider a different lender if recommended by agent or a trusted friend Goes to current bank to request pre- approval letter Expects to qualify for loan with 20% down Has savings and investments including 20% downpayment on hand Follows his agent’s lead in negotiating and home buying Sleeps on the ideas, then acts decisively Expects his real estate agent to keep him in the loop Researches value of house and works with agent to prepare a counter-offer Prepared to execute Plan B Expects to counter if necessary Makes the decisions but realtor negotiates based on his direction Documents are a bit scattered— at home, at work, on his computer Assumes he will need to interact with lender at a branch Expects lender to be disorganized and make same request more than once Has nothing to hide but feels like the process is subtly accusatory Resigned to delays and calls not returned Expects things to go well in the long run but does not appreciate lack of responsiveness Expects to negotiate based on inspection but also does not want to lose house at this point This to be in the lender’s hands Assumes appraised value will be as expected Dumbfounded when asked for additional paperwork No time to review documents ahead of time Places his trust in the professionals Believes there is a chance he will still be asked for more paperwork Wants to attend closing in person for physicality of getting the key Feels pride in being a homeowner Sees buying a home as a life milestone Needs purchase to coincide with current lease Views the market as good and is encouraged to buy Asks her mortgage broker when she gets stuck Watches popular financial advisors on TV and Googles for home buying info Finds this far more complicated than expected A bit disappointed by the houses she can afford versus the house she wants Does calculations with lender and also uses online calculators Takes between six months and two years to pay off credit cards and save money Budgets and tracks savings with partner Plans for closing costs and any additional expenses Spends time browsing homes she can't afford Stays in this stage while saving and repairing credit Considers school districts and commute time when looking at houses Uses Google Maps to discern safety of neighborhood Some don't call her back because she is not a ‘serious’ candidate Finds agents from banner ads on Zillow Finding perfect house would be the catalyst for enduring the loan process Obsesses over details to ensure accurate numbers Sees this as labor intensive and doesn’t have time to do this Googles info on mortgages until stressed out — then stops Needs to tell personal story to a lender More likely to go with small bank than big bank Would rather the lender deny her quickly An ongoing task Expects the real estate agent to facilitate this Getting organized is a big task She wants to trust lender’s guidance Not hearing from the lender causes panic Afraid to get my hopes up Wishes to be able to be excited at this point Trusts real estate agent with ‘the fine print’ of the home inspection Thinks appraisal is the real estate agent’s job This is a celebration Wants a home to make their own and to stop paying someone else’s mortgage Sees a quickly closing window on a ‘buyers market’ Wants to learn the pertinent, relevant facts and steps at their own pace Would prefer to get accurate numbers on their own because the lender can seem like a used car salesman Does calculations on a basic spreadsheet and wants to know from the lender what the real numbers are Have been preparing/ repairing credit for awhile now and feels financially prepared In high savings and budgeting mode Financially planning for other things, like weddings and kids Browses homes within price range Wants the walkability, parks, etc. of urban areas but school districts and affordability of suburban areas Finds agent like they find anything else: Google and gut instinct Balancing ideal home with solid financial investment Search homes on their own and then contact an agent Works with the realtor and/or lender to understand costs Shops around for loans and programs Doesn’t know what the best fit is or what they qualify for Will use lender suggested by their real estate agent or current bank Wants realistic expectations and honest feedback Finds property first and then calls lender for pre-approval Small credit repairs are made Feels ready to buy Does this methodically Approaches application by making many detailed lists Wants to know what they need to know and that’s all !Wishes this could be on their own schedule and not only accomplished while at work Feels neglected and wants to know where they stand Wants this to be in their hands and for it to happen more quickly Relies on lender to explain home insurance Anxious to know status of loan Sends additional paperwork through lender Wants to hear about loan approval from a person Such relief and joy This is a memorable finish line moment Sees real estate as good investment in an unsteady job economy Pays close attention to the market — as a hobby See home buying as a part time job and is becoming savvy Plays out whether to apply as individual or a couple Goes with her gut then checks the math Rigorously aware of current financial status When she has a 20% down payment in the bank, she goes shopping Browses homes daily with an eye towards short sales and drives by the property before contacting realtor Interested in an urban location with good parking and access to recreation Spends time walking around and patronizing the neighborhood before deciding Has a favorite agent from previous homes that is as motivated as she is Sees this as a game Searches alongside realtor and keeps resale value in mind Simultaneously calculating monthly payment and how much the house could potentially rent for Her mortgage will have no early penalty fees and no PMI Will pay more for good service and lender acting in her best interest Expects to get what she needs from lender Prepared to Buy Looking for a deal Offers under the purchase price Anxiously awaits offer acceptance Wants to find this out from a person not a computer so she can be mad at someone Is prepared with a counter-offer Very organized with documents Still caught off guard by the complexity of this task Would rather fill out loan application once and be done Takes charge of the house inspection and of coordinating everyone’s schedules Sees appraisal as someone else’s problem and out of her control Prefers to be in control of this Uses previous insurer Prefers to only pay one bill Wants to know that someone else is doing work too There is a rush of anxiety and joy that comes with receiving final home approval Signing loan documents is mostly paperwork Not surprised by closing costs Would rather electronically transfer money CURRENT STATE HOME BUYER EXPERIENCE MAP FUTURE SOLUTIONS Mortgage Copilot Document Magnet Loan Express One Connect Customer Portal Track My Loan Accurate & Professional Internal, Single View of the Customer Selecting a real estate agent Picking a neighborhood Searching for a good house to buy Getting a home insurance quote Scheduling & reviewing the house inspection Receiving your final loan approval Signing the loan documents Attending closing & becoming homeowner Move into your new house Easy! Low Stress! Fun! I know how much things cost And potentially renegotiating the offer Casually browsing houses Deciding how much house I can afford Lender conducts a home appraisal Working with your lender’s underwriter Address followup questions from lender Calculating what a house will really cost Getting general sense of cost of homes Exploring my financial options Considering my loan options Getting pre- qualified Check with lender Selecting a mortgage lender Applying for pre-approval or assessing status from the lender Filling out loan apps (paper & online) Gathering documents for loan application(s) Submitting the loan application(s) Finding out what mortgages you qualify for and selecting one Determining if it’s a good time to buy Need to work on credit and get financial house in order Ready to go! Financially set Making an offer on a house Finding out your offer is accepted Finding out your offer is not accepted Look for a different house Counter offer Ballparking how much house I can afford Evaluating my current situation Learning about the home buying process Deciding on a down payment & saving money Continuing to save and work on credit score Checking my credit score & credit report STAGES READY TO BUY? PREPARING & SHOPPING FOUND THE HOUSE! APPLY FOR LOAN APPRAISAL & INSPECTION FINAL REVIEW CLOSE & MOVE IN INITIAL FINANCIAL EXPLORATIONS WORK WITH FINANCES & LENDER ACTIVITIES STEPS Evaluating my current situation Determining if it’s a good time to buy Making sense of the home buying process Exploring my financing options Calculating how much house and mortgage payments I can afford Preparing to qualify for a loan and checking credit score Saving money and deciding on a downpayment Casually browsing houses Picking a neighborhood Selecting & working with a real estate agent Searching for a good house to buy Calculating all potential costs — including closing costs, repairs, etc. Researching & selecting best mortgage options Selecting a mortgage lender Learning what we will quality for from lender & applying for pre-approval Continuing to save & work on credit score Making an offer on a house Finding out my offer is accepted Finding out my offer is not accepted Preparing a counter offer Gathering documents for loan application Filling out the loan application & submitting it Addressing follow up questions from lender Waiting on the lender to get back to me Scheduling & reviewing the house inspection Lender conducts a home appraisal Getting a home insurance quote Continuing to work with my lender/ underwriter Receiving my final loan approval Signing the loan documents Attending closing and becoming a homeowner Move into my new house Moving for work or family Pays attention to the market but sees it as subjective Buys when it’s convenient for him Feels knowledgable from previous home purchasing and refinancing Casually follows housing market investment news Uses mortgage calculators to confirm what he already knows Has a solid grasp on his budget and target mortgage payment Doesn’t expect to be surprised Knows his credit score is typically excellent Occasionally checks it online for unknown circumstances (parking tickets, Target breach, etc.) Will put down 20% to avoid paying PMI Enjoys browsing houses on his phone during commute Looks at listings when driving around, but tires at the thought of seeing too many houses Looking for ease of commute and lifestyle Delighted by on-site community activities (i.e. golf course in a planned community) Expects agent to provide a competitive advantage Looking for a new home with no renovation needs and little to no yard work Irritated that house hunting is a part-time job Prepared and willing to negotiate the best deal Anxious about exploring financing options even though he is financially stable Looks for easiest option with a decent rate, often his current bank Would consider a different lender if recommended by agent or a trusted friend Goes to current bank to request pre- approval letter Expects to qualify for loan with 20% down Has savings and investments including 20% downpayment on hand Follows his agent’s lead in negotiating and home buying Sleeps on the ideas, then acts decisively Expects his real estate agent to keep him in the loop Researches value of house and works with agent to prepare a counter-offer Prepared to execute Plan B Expects to counter if necessary Makes the decisions but realtor negotiates based on his direction Documents are a bit scattered— at home, at work, on his computer Assumes he will need to interact with lender at a branch Expects lender to be disorganized and make same request more than once Has nothing to hide but feels like the process is subtly accusatory Resigned to delays and calls not returned Expects things to go well in the long run but does not appreciate lack of responsiveness Expects to negotiate based on inspection but also does not want to lose house at this point This to be in the lender’s hands Assumes appraised value will be as expected Dumbfounded when asked for additional paperwork No time to review documents ahead of time Places his trust in the professionals Believes there is a chance he will still be asked for more paperwork Wants to attend closing in person for physicality of getting the key Feels pride in being a homeowner Sees buying a home as a life milestone Needs purchase to coincide with current lease Views the market as good and is encouraged to buy Asks her mortgage broker when she gets stuck Watches popular financial advisors on TV and Googles for home buying info Finds this far more complicated than expected A bit disappointed by the houses she can afford versus the house she wants Does calculations with lender and also uses online calculators Takes between six months and two years to pay off credit cards and save money Budgets and tracks savings with partner Plans for closing costs and any additional expenses Spends time browsing homes she can't afford Stays in this stage while saving and repairing credit Considers school districts and commute time when looking at houses Uses Google Maps to discern safety of neighborhood Some don't call her back because she is not a ‘serious’ candidate Finds agents from banner ads on Zillow Finding perfect house would be the catalyst for enduring the loan process Obsesses over details to ensure accurate numbers Sees this as labor intensive and doesn’t have time to do this Googles info on mortgages until stressed out — then stops Needs to tell personal story to a lender More likely to go with small bank than big bank Would rather the lender deny her quickly An ongoing task Expects the real estate agent to facilitate this Getting organized is a big task She wants to trust lender’s guidance Not hearing from the lender causes panic Afraid to get my hopes up Wishes to be able to be excited at this point Trusts real estate agent with ‘the fine print’ of the home inspection Thinks appraisal is the real estate agent’s job This is a celebration Wants a home to make their own and to stop paying someone else’s mortgage Sees a quickly closing window on a ‘buyers market’ Wants to learn the pertinent, relevant facts and steps at their own pace Would prefer to get accurate numbers on their own because the lender can seem like a used car salesman Does calculations on a basic spreadsheet and wants to know from the lender what the real numbers are Have been preparing/ repairing credit for awhile now and feels financially prepared In high savings and budgeting mode Financially planning for other things, like weddings and kids Browses homes within price range Wants the walkability, parks, etc. of urban areas but school districts and affordability of suburban areas Finds agent like they find anything else: Google and gut instinct Balancing ideal home with solid financial investment Search homes on their own and then contact an agent Works with the realtor and/or lender to understand costs Shops around for loans and programs Doesn’t know what the best fit is or what they qualify for Will use lender suggested by their real estate agent or current bank Wants realistic expectations and honest feedback Finds property first and then calls lender for pre-approval Small credit repairs are made Feels ready to buy Does this methodically Approaches application by making many detailed lists Wants to know what they need to know and that’s all !Wishes this could be on their own schedule and not only accomplished while at work Feels neglected and wants to know where they stand Wants this to be in their hands and for it to happen more quickly Relies on lender to explain home insurance Anxious to know status of loan Sends additional paperwork through lender Wants to hear about loan approval from a person Such relief and joy This is a memorable finish line moment Sees real estate as good investment in an unsteady job economy Pays close attention to the market — as a hobby See home buying as a part time job and is becoming savvy Plays out whether to apply as individual or a couple Goes with her gut then checks the math Rigorously aware of current financial status When she has a 20% down payment in the bank, she goes shopping Browses homes daily with an eye towards short sales and drives by the property before contacting realtor Interested in an urban location with good parking and access to recreation Spends time walking around and patronizing the neighborhood before deciding Has a favorite agent from previous homes that is as motivated as she is Sees this as a game Searches alongside realtor and keeps resale value in mind Simultaneously calculating monthly payment and how much the house could potentially rent for Her mortgage will have no early penalty fees and no PMI Will pay more for good service and lender acting in her best interest Expects to get what she needs from lender Prepared to Buy Looking for a deal Offers under the purchase price Anxiously awaits offer acceptance Wants to find this out from a person not a computer so she can be mad at someone Is prepared with a counter-offer Very organized with documents Still caught off guard by the complexity of this task Would rather fill out loan application once and be done Takes charge of the house inspection and of coordinating everyone’s schedules Sees appraisal as someone else’s problem and out of her control Prefers to be in control of this Uses previous insurer Prefers to only pay one bill Wants to know that someone else is doing work too There is a rush of anxiety and joy that comes with receiving final home approval Signing loan documents is mostly paperwork Not surprised by closing costs Would rather electronically transfer money CURRENT STATE HOME BUYER EXPERIENCE MAP FUTURE SOLUTIONS Mortgage Copilot Document Magnet Loan Express One Connect Customer Portal Track My Loan Accurate & Professional Internal, Single View of the Customer Selecting a real estate agent Picking a neighborhood Searching for a good house to buy Getting a home insurance quote Scheduling & reviewing the house inspection Receiving your final loan approval Signing the loan documents Attending closing & becoming homeowner Move into your new house Easy! Low Stress! Fun! I know how much things cost And potentially renegotiating the offer Casually browsing houses Deciding how much house I can afford Lender conducts a home appraisal Working with your lender’s underwriter Address followup questions from lender Calculating what a house will really cost Getting general sense of cost of homes Exploring my financial options Considering my loan options Getting pre- qualified Check with lender Selecting a mortgage lender Applying for pre-approval or assessing status from the lender Filling out loan apps (paper & online) Gathering documents for loan application(s) Submitting the loan application(s) Finding out what mortgages you qualify for and selecting one Determining if it’s a good time to buy Need to work on credit and get financial house in order Ready to go! Financially set Making an offer on a house Finding out your offer is accepted Finding out your offer is not accepted Look for a different house Counter offer Ballparking how much house I can afford Evaluating my current situation Learning about the home buying process Deciding on a down payment & saving money Continuing to save and work on credit score Checking my credit score & credit report
- 29. Online Loan Application Process Financial Literacy Website Product Landing Pages Inbound Marketing Strategy Content Strategy Customizable Pre-Qualification Letter How Much House Can I Afford? Tool
- 30. journey map prioritized roadmap future capabilities business goals & datainsights human data Experience Strategy
- 31. ?
- 32. Big Data Human Data Q: How is our tool performing? 50% of users abandon this tool before completing the task Q: Why are 50% of users abandon- ing the tool before completion? 50% of users abandon this tool before completing the task because they’re looking for different information than the tool gives them
- 33. What are the demographics of our most profitable customers? How does our offering fit into the lives of our most profitable customers? Big Data Human Data
- 36. https://medium.com/@j/how-we-used-design-research-to-launch-the-new-york-times-en-espa%C3%B1ol-ae23c5c3001a#.8n72tb88m How we used design research to launch The New York Times en Español Our field work in Mexico City last year laid the foundation for the work that followed. The time “in the field” was a chance to learn directly from news readers and generate insights that would support our product and editorial strategies. We also followed our field research with ongoing, iterative quantitative research. From my perspective as a design researcher, this has been a remarkable opportunity to incorporate ethnographic research methods and data science to uncover rich and actionable insights.
- 38. The Case for Talking to Users in the Age of Big Data “Observing users in person provides you with data that surveys and behavioral data simply can’t, just as surveys and behavioral metrics provide you with data and reliability that qualitative work can’t. You need both— and you need to do both well” https://medium.com/@mgallivan/the-case-for-talking-to-users-in-the-age-of-big-data-bca4159e9620
- 39. BIG DATA HUMAN DATA+ GREAT DIGITAL EXPERIENCE!
- 41. “We scientists love to sit at our computers and use climate models to make those predictions,” said Laurence C. Smith, head of the geography department at the University of California, Los Angeles, and the leader of the team that worked in Greenland this summer. “But to really know what’s happening, that kind of understanding can only come about through empirical measurements in the field.” http://www.nytimes.com/interactive/2015/10/27/world/greenland-is-melting-away.html