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Five Customer Gaps

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Five examples of customer gaps. What causes them and how to solve them.

Published in: Marketing, Business
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Five Customer Gaps

  1. FIVE CUSTOMER GAPS: CHANGES IN BEHAVIOR, DRIVERS, CATEGORIES AND PRODUCTS THE KNOWLEDGEABLE CUSTOMER PEOPLE AND COMPANIES HAVE CHANGED HOW THEY SHOP - AND OUR TOOLS NEED TO CHANGE WITH THEM NEW HABITS AND BEHAVIORS CHANGE THE IMPORTANCE OF ESTABLISHED MECHANISMS THE PRODUCT IS INFRASTRUCTURE- WHAT JOB IS THE CUSTOMER HIRING US TO DO - AND HOW COULD WE DELIVER ON THIS JOB? THE COMPETITION ISN’T NECESSARILY THOSE WHO LOOK AND FEEL IDENTICAL TO YOU - THE MOST LETHAL COMPETITION COMES FROM THE OUTSIDE WHAT YOU THINK IS THE PRODUCT ISN’T NECESSARILY WHAT CUSTOMERS ARE PAYING FOR.
  2. NEW HABITS AND BEHAVIORS CHANGE THE IMPORTANCE OF ESTABLISHED MECHANISMS EVEN IF THE EMOTIONAL DRIVERS FOR BUYING A CAR ARE SIMILAR TODAY AS IT WAS IN THE 1980’S, THE LOYALTY TOWARDS CAR BRANDS HAVE FALLEN FROM 60% TO 20% IN THE PERIOD. - THE REASON IS THE INTERNET. HOW PEOPLE ARE BUYING CARS ARE DIFFERENT, NOT WHY
  3. NEW HABITS AND BEHAVIORS CHANGE THE IMPORTANCE OF ESTABLISHED MECHANISMS THE BARRIERES TO BECOMING A CUSTOMER ARE DIFFERENT, AND SO THE MEANS BY WHICH CUSTOMERS ARE INFLUENCED ARE DIFFERENT. TECHNOLOGY RESPONDS TO PEOPLES HABITS AND BEHAVIORS AND BECOMES MORE INFLUENTIAL.
  4. THE KNOWLEDGEABLE CUSTOMER PEOPLE AND COMPANIES HAVE CHANGED HOW THEY SHOP - AND OUR TOOLS NEED TO CHANGE WITH THEM CUSTOMERS ARE MORE KNOWLEDGEABLE. READING UP ON COMPANIES AND THEIR COMPETITORS PRODUCTS ONLINE BEFORE EVEN APPROACHING THEM. THEY ARE REQUESTING MORE INFORMATION AND CONTENT ABOUT THE PRODUCTS AND JOBS THEY ARE DOING - THE PHASE OF ACTIVE EVALUATION BECOMES THE BEST PLACE TO BE FOR BRANDS WHO WANT TO POSITION THEMSELVES AND MAKE THEMSELVES VISIBLE. THIS REQUIRES OTHER MARKETING TOOLS THAN TRADITIONAL DISPLAY AND STORYTELLING, AND IT CHANGES PEOPLES PROPENSITY TO BE AFFECTED BY TRADITIONAL EMOTIONAL ADVERTISING
  5. ACTIVE EVALUATION INFORMATION GATHERING, SHOPPING LOYALTY LOOP POST PURCHASE EXPERIENCE After purchasing a product or service the consumer builds expectations based on experience to inform the next decision journey The consumer considers an initial set of brands, based on brand perceptions and exposure to recent touch points Consumers add or subtract brands as they evaluate what they want Ultimately, the consumer selects a brand at the moment of purchase MOMENT OF PURCHASE INITIAL CONSIDERATION SET 1. 2. 3. 4. THE NEW SIRLOIN OF MARKETING 2009 THE KNOWLEDGEABLE CUSTOMER PEOPLE AND COMPANIES HAVE CHANGED HOW THEY SHOP - AND OUR TOOLS NEED TO CHANGE WITH THEM TRADITIONALLY BRANDS ARE PRESENT IN THE GREEN DOTS. THESE ARE VERY EXPENSIVE PLACES TO BE. IN THE NEW AREAS (GREY BACKGROUND) COMPANIES CAN ACHIEVE GREAT THINGS BUT THIS REQUIRES A NEW TYPE OF MARKETING PRODUCT AND NEW FORMATS.
  6. THE KNOWLEDGEABLE CUSTOMER PEOPLE AND COMPANIES HAVE CHANGED HOW THEY SHOP - AND OUR TOOLS NEED TO CHANGE WITH THEM IN B2B CUSTOMERS HAVE ALREADY COMPLETED 60% OF THEIR CUSTOMER JOURNEY BEFORE TALKING TO SOME COMPANIES. SALES BECOMES LESS ABOUT PRESENTING PRODUCT INFORMATION AND MORE ABOUT HELPING CUSTOMERS CREATIVELY IMPROVE THEIR BUSINESS POTENTIAL WITH THE PRODUCTS.
  7. THE PRODUCT IS INFRASTRUCTURE- WHAT JOB IS THE CUSTOMER HIRING US TO DO - AND HOW COULD WE DELIVER ON THIS JOB? CUSTOMERS DON’T BUY PRODUCTS, THEY HAVE A JOB TO DO AND HIRE YOUR PRODUCT TO HELP THEM WITH THIS JOB. UNDERSTANDING AND DESIGNING YOUR OFFERING AS A PART OF CUSTOMERS CONTEXT / JOB CREATES THE OPPORTUNITY TO BECOME MORE MEANINGFUL AND PRESENT IN THEIR LIVES - OUTSMARTING THE COMPETITION.
  8. THE PRODUCT IS INFRASTRUCTURE- WHAT JOB IS THE CUSTOMER HIRING US TO DO - AND HOW COULD WE DELIVER ON THIS JOB? YARA PRODUCES THE BEST FERTILIZER IN THE WORLD. BUT FARMES DON’T BUY FERTILIZER - THEY DO WHATEVER THEY CAN TO GET THE BEST CROPS POSSIBLE. TO DO THIS FARMERS DON’T ONLY NEED FERTILIZER, THEY ALSO NEED TO KNOW WHEN, WHERE AND HOW MUCH TO FERTILIZE WITH WHAT. OFFERING ANSWERS TO THIS THROUGH SENSORS AND TECHNOLOGIES ON FARMING EQUIPMENT AND OUT IN THE FIELDS CAN CREATE A DAILY RELATIONSHIP WITH FARMERS, OFFERING FAR MORE THAN JUST BAGS OF FERTILIZER ON A TRUCK ONCE A MONTH.
  9. JOBS-TO-BE-DONE THE PRODUCT IS INFRASTRUCTURE- WHAT JOB IS THE CUSTOMER HIRING US TO DO - AND HOW COULD WE DELIVER ON THIS JOB?
  10. THE COMPETITION AREN’T NECESSARILY THOSE WHO LOOK AND FEEL IDENTICAL TO YOU - THE MOST LETHAL COMPETITION COMES FROM THE OUTSIDE IF YOU ASKED A CONVENIENCE STORE IN OSLO IN 2012 WHAT THE BIGGEST THREAT WOULD BE IN 2013 THEY WOULD POINT TO THE OTHER SIDE OF THE STREET AND SAY - ‘IF A COMPETING CONVENIENCE STORE OPENS OVER THERE’. THE WORST THING THAT DID HAPPEN WAS THE MOBILEPHONE TICKET ORDERING APPLICATION FOR THE PUBLIC TRANSPORT COMPANY. THE PROBLEM BEING THAT THE STORES ALL KNEW ABOUT THE APP, BUT NOBODY DID ANYTHING BECAUSE THE THREAT DIDN'T LOOK IDENTICAL TO THEMSELVES.
  11. THE COMPETITION ISN’T NECESSARILY THOSE WHO LOOK AND FEEL IDENTICAL TO YOU - THE MOST LETHAL COMPETITION COMES FROM THE OUTSIDE THE MAP SHOWS HOW PATENTS IN USA ARE CONNECTED CROSS-INDUSTRIES (COLORS ILLUSTRATE INDUSTRIES AND LINES BETWEEN THEM PATENS). THERE ARE NO INDUSTRIES ANYMORE.
  12. “THESE PEOPLE AREN’T EVEN TRYING TO DISRUPT YOUR BUSINESS MODEL. YOU ARE JUST COLLATERAL DAMAGE.” - EDDIE JOON - THE COMPETITION ISN’T NECESSARILY THOSE WHO LOOK AND FEEL IDENTICAL TO YOU - THE MOST LETHAL COMPETITION COMES FROM THE OUTSIDE THE TICKET APPLICATION FROM THE TRANSPORTATION COMPANY WASN’T EVEN TRYING TO DISRUPT THE CONVENIENCE STORES, THE STORES WERE JUST COLLATERAL DAMAGE. ACCENTURE SUGGEST THAT THE BEST CUSTOMER EXPERIENCE OR CUSTOMER SERVICE WINS - CUSTOMERS DON’T CARE ANYMORE WHO OFFERS THEM.
  13. WHAT YOU THINK IS THE PRODUCT ISN’T NECESSARILY WHAT CUSTOMERS ARE PAYING FOR. NOBODY WANTS, NEEDS OR HAS A RELATIONSHIP WITH THEIR VISA-CARD NUMBER - SO GETFINAL JUST REMOVES THEM, (OR GIVES YOU A MILLION). THE POINT IS THAT THE THINGS/INFRASTRUCTURE COMPANIES THINK ARE IMPORTANT TO CUSTOMERS MIGHT BE COMPLETELY IRRELEVANT TO THEM.
  14. WHAT YOU THINK IS THE PRODUCT ISN’T NECESSARILY WHAT CUSTOMERS ARE PAYING FOR. VIDEO LINK: http://youtu.be/8ZtG5DX5FR0
  15. WHAT YOU THINK IS THE PRODUCT ISN’T NECESSARILY WHAT CUSTOMERS ARE PAYING FOR. AIRBNB ARE MORE INTERESTED IN TRAVEL EXPERIENCES THAN ROOMS, PRICE OR LOCATION (THE TRADITIONAL DELIVERABLES OF THE HOTEL INDUSTRY). AND SO THEY ARE SEEING THE CUSTOMERS THROUGH A LARGER LENS AND CREATING SERVICES FOR THEM THAT ARE MEANINGFUL TO THEM. AIRBNB ARE IN A MEANINGFUL SPACE TO TRAVELLERS, WHILE TRADITIONAL HOTELS ARE SELLING INFRASTRUCTURE.
  16. WHAT YOU THINK IS THE PRODUCT ISN’T NECESSARILY WHAT CUSTOMERS ARE PAYING FOR. BANKS DIDN’T UNDERSTAND THAT BOTH STARBUCKS AND TESCO WANTED TO BUY SEAMLESSNESS (NOT BANKING INFRASTRUCTURE). IBM DIDN’T UNDERSTAND THAT YAHOO WANTED TO BUY SPEED (NOT SERVER SOFTWARE).
  17. CHANGES IN BEHAVIOR, DRIVERS, CATEGORIES AND PRODUCTS THE KNOWLEDGEABLE CUSTOMER PEOPLE AND COMPANIES HAVE CHANGED HOW THEY SHOP - AND OUR TOOLS NEED TO CHANGE WITH THEM NEW HABITS AND BEHAVIORS CHANGE THE IMPORTANCE OF ESTABLISHED MECHANISMS THE PRODUCT IS INFRASTRUCTURE- WHAT JOB IS THE CUSTOMER HIRING US TO DO - AND HOW COULD WE DELIVER ON THIS JOB? THE COMPETITION ISN’T NECESSARILY THOSE WHO LOOK AND FEEL IDENTICAL TO YOU - THE MOST LETHAL COMPETITION COMES FROM THE OUTSIDE WHAT YOU THINK IS THE PRODUCT ISN’T NECESSARILY WHAT CUSTOMERS ARE PAYING FOR. FIVE CUSTOMER GAPS:
  18. COMPANIES ROUTINELY INVEST IN TECHNOLOGY, AND TOO OFTEN FEEL THEY GET ROUTINE RESULTS. TECHNOLOGY’S PROMISE IS NOT SIMPLY TO AUTOMATE PROCESSES, BUT TO OPEN ROUTES TO NEW WAYS OF DOING BUSINESS. 78% of respondents, achieving digital transformation will become critical to their organizations within the next two years. However, 63% said the pace of technology change in their organization is too slow. The most frequently cited obstacle to digital transformation was “lack of urgency.” MIT Sloan Management Review http://sloanreview.mit.edu/projects/embracing-digital-technology/ COMPANIES INVEST LARGE AMOUNTS IN TECHNOLOGY JUST TO COPY WHAT THEY ALREADY HAVE - INSTEAD OF IMPROVING, BUILDING OR RETHINKING COMPLETELY WHAT THEY ARE DOING. TECHNOLOGY OFFERS NEW WAYS OF CREATING CUSTOMERS - IF YOU LET IT.

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