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From KNOWING Your Customer …
We used to look at demographics
Are they male or female
Where do they stay
What age are they at
What are their education and income level
Do they live in a family or alone
Do they tend to follow any particular religion?
Demographic segmentation is the most popular base for
any segmentation
We used to do researches in this line
Life cycle stage
Social Class SEC
Lifestyle
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… to UNDERSTANDING your customer
Know the customer, not his/her demographics only
When I am at your store, do I feel at home?
When I am at your site, do I feel expected?
Do you have an app for me? Do I really need an app at all?
Can you suggest the perfect lunch for me?
Do you know my last ten purchases? Can you predict my
next ten?
Do you know my taste? My style? Who inspires me?
Whom I respect?
Do you know my network?
Because the better we UNDERSTAND them, the more
ways we can make them happy / satisfied
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Why?
Customers are far less trusting than they used to be
Especially true in industries whose reputations suffered (banking,
pharmaceuticals, energy, airlines and media)
Even if you're in an unrelated industry, you’re likely to be effected
Consumers have more power than ever before
Social media, easy on-line comparison-shopping, and a
proliferation of choices.
Customer diversity continues to increase
Opportunity! putting a premium on micro-segmentation
By increasing the noise-to-data ratio
Customers are confused as well!
They are less interested in products
More interested in flexible, adaptive solution
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Approaches in doing homework
Stand in your customer’s shoes
Look beyond your core business need to look at
customer’s full range of choices, as well as his or her
ecosystem of suppliers, partners etc.
Deepen understanding of competitors
Staple yourself to a customer’s order
Track key customers’ experiences throughout the life-cycle
Note where the experience breaks down
- Actual observation
- Role-playing
Merge with the customers Let them take the lead
Lean forward and anticipate Apple
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Research Tips
Choose your target market right
Your information will only be as good as your ‘sample’
Design your survey carefully
Are you missing the key issues?
What are the questions that you need answers to?
Don’t offend customers
Keep it short (if not sweet)
One pager?
Leave an opportunity for detailed answer too
Not everyone will, but the fews will make the more difference
Work out your recording techniques / tools
Invest in the process
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P&G Turn-around
A F Lafley took over as CEO of P&G in 2000 when the
company had lost it’s way
Stocks plunged by more than 50%
Earning expectations dipped
From deciding how to drive to driving decisions
Simple mantra: ‘The Consumer is the Boss’
Hear the customer what they wanted to say
Tease out what they wanted but never could articulate
Spend time ‘living’ with the consumers
Changes came from there
Tide packaging
Swiffer $1 billion annual revenue
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Word of Caution
Even the most well-intentioned people says things
untrue
They say they will do things they won’t, and purport to have
interest in things they don’t.
Solution?
Spend time in the market so
that you can know the
customer better than they
know themselves.
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Godrej Chotukool
Indian market is vast, and a large part still can’t afford
refrigerator
Godrej and Boyce went on understanding the ‘untold’
need of this large customer base
Result Chotukool Refrigerator
Designed for 85% of the Indian Consumers who DID
NOT buy refrigerators
Same benefit of a refrigerator
Smaller, more portable
Less power-hungry runs on battery!
Costs under $70
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GROUP CLASS ASSIGNMENT
Write down five things that a coworker or friend can only do by relying on
an expert or going to a central location.
Think about ideas that would let these people do it themselves for any
one of the above – something not prevalent in the country.
Chalk a solution for the relevant brand.
Notas do Editor
Field diverse customer teams. One bank added members of the back-office support group to its customer team, supplementing the usual customer-facing roles. IBM sends senior teams from different disciplines into the field to meet customers and develop a deep understanding of how to serve them better.Learn together with customers. GE invited its top customers in China, along with local executives and account managers, to a seminar on leadership and innovation. Doing so not only helped GE executives better understand the mindset of Chinese counterparts; it also helped them to influence that mindset.Lean forward and anticipate. Focus on what customers will want tomorrow, as Steve Jobs and Richard Branson did so exquisitely. Try to envision different futures through tools like scenario planning and then explore how underlying market shifts may affect your customers.
Who they are?• Where they live?• What lifestyle do they lead?• What car they drive?• Their perceived need for your product or service?• Would they buy it from you?• How much would they be willing to pay?• Have they heard of your company or product? If so, from where?• Where would they go to source this type of product or service?• Have they sourced it elsewhere? If so, where and why?• What magazines and newspapers they read?• What TV channels or shows do they watch?• What radio stations do they listen to and at what times?• What websites they visit?• How do they like to be communicated with? Email, phone and/or by post?3. Keep