conversation about maximising value from customer insight

Securing buy-in for Customer Insight, to overcome under-investment

buy-inAlready, this autumn, I’ve had opportunity to meet & work with a variety of customer insight leaders. All of them, in different contexts, struggle with the need to secure buy-in to the potential of customer insight for their business.

So, hopefully, it will help others to capture some of our thinking & achieve action in response.

These insight leaders come from different sectors & are working within businesses with different capabilities.

Some are currently leading largely research teams and are looking to grow their analytics capability. Others have skilled analysts, but have struggled to get use of insight embedded into marketing practice. (more…)

Data Monetisation, do you back Admiral or Facebook?

data monetisationHeadline news items can have, more frequently in recent years, direct bearing on the world of data & insight. Increasingly including topics like data monetisation.

One such story was the recent news that Facebook (FB) was preventing Admiral insurance (in the UK) from using social media activity data as a means of assessing risk. Admiral planned to enable FB users to not only logon via their FB id, but also opt-in to giving Admiral access to their data, in return for potentially lower car insurance premiums.

Given the higher cost of car insurance for younger drivers, the idea had real appeal.

However, it appears at the last-minute, Facebook has announced that it is not willing to allow such data from its users to be shared with Admiral, citing ‘data privacy’ concerns. (more…)

Why you need to embed Customer Insight in your marketing lifecycle

marketing lifecycleWelcome to a new month & a new academic year. As we roll into September, our theme for the month moves on to ‘Marketing Applications’. By that, I mean examples of how Customer Insight can help throughout the marketing lifecycle.

As before we will seek to bring you a mix of voices, as well as surveying your current practice.

I hope, this Marketing focussed month, will bring some very practical content for you to use in your leadership role.

 

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Which do you really need, a coach or mentor?

coach or mentorAs the world’s athletes show us what they can achieve in Rio, it’s easy to overlook the achievement of the coaches. Most medal winners will acknowledge a debt of gratitude to their coaches. But, what about the world of business? Many companies have internal mentoring programmes. So, do you need a coach or mentor?

Today, I want to briefly focus on the difference between both types of help.

Now, academic research is evolving on this point, with some academics pointing out that unlike definitions, roles blur in practice.

Some research suggests that the roles of mentor, coach & even counsellor or therapist blur & such help sits on a spectrum. We might be better to think of ‘helping by talking’ professions, as one writer has suggested. (more…)

Can your coach help you with an integrated leadership model?

Integrated leadershipThe Rio Olympics certainly were absorbing. For weeks our screens & radios were be filled, with news of personal achievement & records broken. But as everyone knows, a lot of training & coaching goes into preparing for what may just be one event. Coaching business leaders also requires a lot of investment to see desired changes, but more integrated leadership can help.

Before explaining what I mean by the term ‘integrated leadership’, let me mention our theme for the month.

Regular readers will know we have this year had monthly themes of content, to help us cover the breadth of customer insight leader interests.

In keeping with the Olympics, our theme this month is coaching. How you can you achieve peak performance as a leader & sustain it? (more…)

Do you know how to handle a propensity model?

propensity modelWhen you talk to most database marketers, they will agree with the importance of using a propensity model to target direct marketing.

Over the last couple of decades that form of targeting model has become de rigueur. Indeed, many case studies will show what a difference it can make to marketing returns (sometimes even as good as Pareto’s fabled 80% of sales for 20% of marketing spend).

Such modelling has also become more widespread across businesses & sectors, as software innovations have ‘lowered the bar’ on skills needed to build such models.

Once solely the province of statisticians building regression models using SAS etc, developments in ‘automated modelling’ software have held out the promise of less numerate marketers building good enough models. (more…)

How to generate insights for better propositions (part 2)

better propositionsFor part 2 in our series on insight generation for proposition development, we return to that ‘brown paper’ exercise.

You may recall that I’d advised bringing together representatives from across your business, to run an interactive workshop. The following stages have already helped identify or produce material for that day:

  • Identifying priority opportunities (consumer needs or ‘jobs to get done’)
  • Identify key consumer questions/challenges/barriers
  • Big ‘brown-paper exercise’

So, now everyone is there & your insight analysts have curated the material relevant to business challenges & consumer questions. As I mentioned previously, this curation (or gathering & filtering) is crucial to have the right quality of evidence from data, analytics, research, marketing performance and market/competitor intelligence. (more…)