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Vodka Tonic(s) Classic Rock. Go to a Movie. Group of Close Friends ... Value-Based Marketing & Communications. Build the foundation of a Trusted Advisor ... – PowerPoint PPT presentation

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Title: Powerpoint Standard Template


1
Becoming a Top Gun
Outmaneuver Your Competition by Acquiring,
Leveraging, and Using Customer Insight
ABA Marketing Network New England Chapter 2006
Spring Marketing Conference
2
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3
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4
People are harder to connect with today
  • More info
  • More choices
  • More channels
  • Less time

5
Hear the Thunder
  • Setting the Stage
  • Building the Case
  • Exercise
  • Take Home
  • Discussion

6
What is Customer Insight?
  • The gathering, interpreting and application of
    knowledge concerning customers (individuals and
    groups) for the benefit of the organization and
    becomes a basis for a competitive advantage.
  • Which allows you to
  • Align contact points and customers
  • Understand customers viewpoint
  • Become a Trusted Advisor

7
What insight do I need?
  • Strategic
  • Operational
  • Promotional
  • Variable

8
What levels are available
  • Demographic
  • Industry
  • Organizational
  • Business Line
  • Personal

9
Exercise
10
Bruces Perfect Evening
Steak Potatoes
Vodka Tonic(s)
Classic Rock
Go to a Movie
Group of Close Friends
11
So What?!?!
12
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13
The Role of Marketing is Evolving
  • Taking on a more strategic role within
    organization

14
AMA (Finally) Updates Definition of Marketing
  • Previous Definition
  • Marketing is the process of planning and
    executing conception, pricing, promotion and
    distribution of goods, ideas and services to
    create exchanges that satisfy individual and
    organizational goals.

New Definition Marketing is an
organizational function and a set of processes
for creating, communicating and delivering value
to customers and for managing customer
relationships in ways that benefit the
organization and its stakeholders.
15
The Role of Marketing is Evolving
  • Taking on a more strategic role within
    organization
  • View through the lens of the customer
  • Focused on gaining insight on wants, needs, value
  • Emphasis on buyer, not seller
  • Creating a focused target to leverage
    time/dollars/resources

16
Strategic Marketing Planning Process
Step 7 Develop Your Budget Metrics
Step 6 Set Sales Marketing Goals
Step 5 Determine Your Marketing Methods
Step 4 Develop Your Marketing Messages
Step 3 Position Yourself in the Market
  • Key Questions
  • Who are your customers?
  • What do they want?
  • What motivates them to buy?

Step 2 Understand Your Customer
Step 1 Understand Your Market Competition
17
The Role of Marketing is Evolving
  • Taking on a more strategic role within
    organization
  • Viewing the world through the lens of the
    customer
  • Focused on gaining insight on wants, needs, value
  • Emphasis on buyers, not sellers
  • Creating a focused target to leverage
    time/dollars/resources
  • More direct interaction with customers

18
Who Are Your Customers?
19
The Role of Marketing is Evolving
  • Taking on a more strategic role within
    organization
  • Viewing the world through the lens of the
    customer
  • Focused on gaining insight on wants, needs, value
  • Emphasis on buyers, not sellers
  • Creating a focused target to leverage
    time/dollars/resources
  • More direct interaction with customers
  • Greater importance on retention and relationship
    growth

Why is this important to you?
20
So.What is Customer Insight?
21
Customer Insight is
  • Knowing customers objectives (sometimes
    strategies)
  • Characteristics
  • economic, social, demographic, psychological,
    relationships
  • Needs and wants
  • Contacts/responses
  • Purchases
  • individually and in combination/groups
  • Plans and intentions
  • Risks

22
And
  • And its what you know about your customers
  • Media and channel behavior
  • Track through your operations
  • Experience- that you give them
  • Journey
  • Build a picture of your customer.

23
Key Elements of Customer-Focused Marketing
  • Creating customer value
  • Customers seek products/services that meet their
    needs (usually a combination of emotional and
    economic)
  • Value is the customers estimate of
    product/services ability to satisfy their needs
  • Customers select companies that they perceive to
    be of best value
  • Business-to-business marketing involves more
    intimate knowledge of and relationship with
    customers
  • Takes marketing down to a one on one level
  • Critical for success

24
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25
The 4 Realities of How Customers Think
  • Customers dont care about your competitive
    position or product features and benefits
  • Each person perceives value differently
  • The other side of the value coin is the
    perception of risk
  • People rationalize buying decisions based on
    facts, but people make buying decisions based on
    feelings

26
Customer-Focused MarketingRoad Map
27
Your Path to Customer-Focused Marketing
  • Identify desired Customer Insight
  • What you need to know
  • Collect Customer Insight
  • How to get it
  • Integrate and implement
  • What to do with it
  • Measure and evaluate
  • What it tells me
  • Start over again

28
1. Identify desired Customer Insight
  • What you need to know
  • Market Position
  • Buying/Purchase Process
  • Transaction data
  • Interaction data
  • Customers Business Environment
  • Business Impact
  • Doing Business with Us
  • Demographic and Profile data

29
2. Collect Customer Insight
  • Research/Gathering Methods
  • One-on-one, in-depth interviews (qualitative)
  • Telephone survey/interview (quantitative)
  • Focus groups
  • Solicit/encourage customer feedback and
    complaints
  • Industry groups trade associations
  • Customer advisory board
  • Networking groups
  • Leveraging internal Knowledge Assets

How to get it.
30
3. Integrate and implement
  • What to do with it.
  • Modify Marketing Messages Materials
  • Create targeted interactions
  • Product Development
  • Sales Support
  • Value-Based Marketing Communications
  • Build the foundation of a Trusted Advisor

31
4. Measure and Evaluate
  • What it tells me.
  • What is working, what is not
  • Areas of additional focus
  • Efforts and expected results
  • Continue to build the foundation of a Trusted
    Advisor through repetition

32
Exercise
33
  • Bringing it back
    together

34
Where do I look
  • Current sources
  • MCIF
  • Reports
  • Knowledge Assets
  • Public Records
  • New Sources
  • Determine what you need
  • Determine what you are missing
  • Determine the speed of acquisition need
  • Match the points
  • First Research
  • Associations
  • Core systems
  • Legacy systems

35
What About Data Overload?
  • Who manages
  • Skills needed to manage
  • Process to those who need it
  • External suppliers versus internal
  • How to evaluate
  • Integrate and interlink
  • Insight to Action
  • speed the process

36
What are other industries Doing?
  • Heather Anderson from the National Society of
    Professional Engineers, wrote
  • I am constantly gathering feedback from our
    members and I have a hard time getting other
    staff to at least review the feedback when it
    pertains to them not to mention act on it. I am
    also picking up an attitude that if the feedback
    isnt provided directly, that it is not valid
    in their eyes.

37
What she did
  • Adhoc customer advisory board
  • Invited customers to speak
  • Made customer support an Executive Management
    responsibility
  • Videotaped customers
  • Started a blog

38
Examples to Share
39
Examples
  • Focus Luncheons
  • Advisory Board
  • A Penny for Your Thoughts
  • Periodic Surveys
  • Demographic studies
  • New/closed account surveys
  • Satisfaction surveys

40
The Key
41
  • Dont just Gather it
  • Use it
  • Dont just Centralize it
  • Share it
  • Dont just Update it
  • Review it
  • Dont just Use it Once
  • Integrate it

42
Case Studies
43
Our Final Thoughts
  • Turn the lens around
  • Become more involved with customers
  • Perception is reality
  • Two ears, one mouth
  • How can marketing make a difference?
  • Get Started!

44
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45
How To Reach Us
Bruce A. Clapp President MarketMatch 328
Sagebrush Drive Clayton, Ohio 45315 (937)
832-7894 (937) 832-4545 fax baclapp_at_MarketMatch.co
m www.MarketMatch.com
46
Mark the Dates
  • ABA Marketing Conference
  • 2006 Conference
  • Chicago, IL
  • September 10 - 12, 2006
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