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Chapter 7: Industry Archetypes and Best Practices
- 1. CHAPTER 7:INDUSTRY ARCHETYPES AND BEST PRACTICES Prepared by: Rhomina Amorosa Digital Marketing Class Prof. Bong De Ungria
- 2. LEARNING OBJECTIVES: - Learn the four major industry archetypes derived from the five A’s framework - Learn how other industries cope with different challenges - Draw insights on how to win in a specific industry by comparing the Brand Advocacy Ratio (BAR)
- 3. FOUR MAJOR ARCHETYPES Customer Behavior - Have prior expectation and preference - Have low attachment toward brand Industry Characteristics - Lengthy and thorough evaluation before buying - Involve multiple stakeholders - Highly involved in purchase decision - Have confidence in brand quality - Purchase is mostly planned - Trust real experience, not claims - Aggressive branding and marketing communications - Many competing brands - Commoditized offerings - Similar positioning among competing brands - Reputable image from quality association - Strong influence from word of mouth - Competing brands can easily be compared - Product is paired with strong customer experience
- 4. DOOR KNOB - A pattern where there is great awareness, slightly lower appeal but there is low curiosity i.e. ask. - Acting is leveled with appeal and advocating is at level with ask. - This situation is typical for low cost products that have a lot of competitors and simple characteristics. - Based on first impression, the best course to ensure phase Act i.e. buying the product, would be to just have the product look really nice - Example : Consumer Packed Goods (CPG)
- 5. GOLDFISH - Pattern which is very problematic (at points A2, A3, A5 meaning appeal, ask and advocate) - High awareness as you inform the public. Low appeal is due to high competition on the market meaning, hard to distinguish yourself from others .Hard to convey a quick message. - This leads to a high Ask rate as customers try to find what customers needs - A5 or advocacy is also a great problem - Example : Business to Business (B2B) situations (automobile industry)
- 6. TRUMPET - When it comes to act, meaning buying it falls flat. - Only slightly higher amount of customers will advocate the product. - Not a lot of people can afford the product yet more people advocate it even though they never bought it. - Example: Rolex, Louis Vuitton
- 7. FUNNEL - The only pattern which involves the customer on each stage to reach advocacy as the dispersal rate of the customers is standard and steady. - Customer experience is the greatest factor since they are a part of each stage. Each stage must be taken care of at all times. - Example: Telecomms
- 8. BOW TIE - Ideal pattern, this a situation where there is great awareness, slightly less appeal, slightly less questioning (Ask), a lot of people Act (buy) and even more Advocate. - This means that all of the people that see your brand will advocate it even though they didn’t buy the brand. - Perfect BAR score of 1 (aware = advocate) and (appeal = act) - The four customer path patterns (door knob, goldfish, trumpet and funnel) should strive to obtain this perfect bow tie pattern
- 9. IMPROVING COMPANY PATH ACROSS THE INDUSTRY ARCHETYPES
- 10. FOUR INDUSTRY BEST PRACTICES
- 11. FOUR INDUSTRY BEST PRACTICES 1) High Median Bar and Narrow Bar Range – success is determined by channel proximity and accessibility to key markets 2) High Median Bar and Wide Bar Range – key success factor is brand management 3) Low Median Bar and Wide Bar Range – key success factor is service management 4) Low Median and Narrow Bar Range – key success factor is sales-force management
- 12. APPLICATIONS TO MOBILE INSURANCE o Mobile Device Insurance and Protection 24-hour device replacement (lost, stolen, or damaged) Locate and Alarm (Mobile app also enables you to locate your phone, secure your privacy. Content Back-up (contacts, photo, video) Technical Support and Tutorials - One Click Tech Advisor or Personal assistance with one simple call to resolve any technical question
- 13. APPLICATIONS TO MOBILE INSURANCE Funnel Archetype - customer experience really matters, need to focus on customer experience innovations since technology is our business, more focus on R&D to better understand how we can serve well our customers, increase commitment and increase affinity from our subscribers. Success Factor - Service Management
- 14. THANK YOU….
Editor's Notes
- Take for example Zewa toilet paper. First, a lot of customers see a lot of toilet paper in a store. Some of them notice three brands including Zewa. There is little to no research being done on the product as its use is fairly straightforward. From the people that noticed the products, they will buy the product probably based on appeal more than on actually dissecting various characteristics of the product. Finally, only a small number of customers will actually advocate the product. Zewa for example mostly points out two main characteristics; smell and number of layers. They associate these characteristics with color. If a customer is looking for lavender fragrant toilet paper, he will probably notice the purple product as lavender is purple. Of course, you want to try to achieve The Tie model. This means your A1 to A4 are good, but A5, Advocacy, is lacking greatly. One company that managed to regulate this is Coca Cola. Using other means to increase loyalty other than what the product offers could help. Example would be donations, charity, sending a social message etc. At this point, you are not selling the product, you are selling, not just the brand, but the image of the company. The customers should feel good buying your product and that is what would drive Advocacy and differentiate you from others.
- Hard to convey a quick message as to why your product or service is better than others. In turn this leads to a high Ask rate as customers try to find what they need based on the slight differences the competitors offer. The usual points customers (businesses) look at are the product quality and price. This also leads to a more perfectly informed customer. A5 or advocacy is also a great problem. This is due to having a great number of competitors on the market and the customer having a lot of information about a lot of them. If you cannot do a certain job for a certain price, the customer can easily go somewhere else. An example would be GoDaddy, a hosting and domain purchase website. The price of domains is mostly the same with other competitors so if the service isn’t good, the customer can easily switch to someone else For low appeal, there is nothing much you can do as your customers are not really interested in such things. You can simplify the ask process by adding a comparison site table, integrated into your landing page in order to give the customers instant information about your competitors. Due to heuristics, the customer is more likely to stay on your site as soon as they see that the prices and services are pretty much the same. Increasing advocacy can be done with excellent customer service. Renting hosting is simple enough, but to get help in seconds whenever you need it via chat is something that would drive customer satisfaction up.
- Similar to the example I made with the Tie about Tesla, it could also be an example of the Trumpet but on a smaller, more pessimistic and realistic, scale
- The last pattern is the Funnel. This is the most traditional pattern that people think of when talking about customer journey. Also, it is the only pattern which involves the customer on each stage to reach advocacy as the dispersal rate of the customers is standard and steady. The greatest factor when dealing with the Funnel is customer experience since they are a part of each stage. At times, it is also recommended to create a slightly faulty product in order to achieve better customer loyalty and in turn advocacy. Each stage must be taken care of at all times. In the digital world this would be: A1 ads and ranking, A2 look fantastic with great headings in article, A3 landing page, information, chat and call to action, A4 easy to purchase, A5 great customer support and product quality. An example would be Udemy, a site dedicated to teaching via courses. At A1 it creates ads to the whole targeted market, some people find it appealing at A2, at A3 less people will ask about it, at A4 (Which is the most important step in the Funnel) is gained with constant discounts, thus in turn creating Advocacy to most people that bought their service.
- Why would someone do that? Surely there is no such brand and this is just a theory? Well, take Tesla cars would be a bit of a farfetched example but it could be striving for it. A lot of people know about Tesla (awareness), only a part of the people that know about it will find it appealing(appeal). Tesla’s cars have a clear message and there are not a lot of competitors on the market in the price range. There is quite a number of people that bought the car and do love it. However, even the people that only know about Tesla think highly of the product. All products should try to strive for the Tie model, although some just cannot achieve it.