helping you master customer insight leadership

What are your goals for Customer Insight success in 2016?

goals for customer insight successIt’s that time again, when we ask for your goals for Customer Insight success this year.

Last year, you voted fairly consistently for two priorities to deliver in 2015. First, was a measurable commercial difference in your business that could be attributed to Customer Insight, e.g. demonstrate value-add. Second, was to make time for your own leadership development, or as Stephen Covey would put it, “Sharpen the Saw”.

Both these made good sense & colloquially I’ve heard that a number of you made good progress on the former, but still struggled to protect time for the latter. Was that true for you in 2015? What are you going to do differently in 2016 to achieve more? (more…)

Can we please just build insight this way?

iStock imageDo we have to build that here? Can’t we just buy that in?

One of the often quoted challenges, faced by Customer Insight leaders, is deciding on the right mix of in-house or outsourced capability.

Examples exist of businesses, across multiple sectors, with different successful resourcing models for their insight teams.

Some banks have taken advantage of significant investment in-house. Teams of hundreds of analysts across data, database marketing, analytics, modelling & research, have added significant profit to their bottom lines. Meanwhile, there are retailers with success stories built on fully outsourced insight teams. (more…)

Poll results: Conduct Risk and Insight Gaps

iStock photoThanks to those of you who participated in our short survey on use of Customer Insight to mitigate & report on your conduct risks to the FCA.

Our interim results suggest there are quite a few gaps still out there, with more work to be done by FS firm Customer Insight teams.

Here’s a quick summary of the findings so far from Customer Insight Leaders across Financial Services… (more…)

Are you building your Data Kingdom from a blueprint?

data kingdomWhere is that data? I know we’ve got it somewhere!

Ever been in that position or heard such frustration from your analysts?

This is an age of ever-growing appetite for more & more data on your customers. Data Kingdoms are expanding every day.

Sometimes this results in problems caused by lack of planning. What I mean is this… Too many databases, data warehouses or even networked (Hadoop et al) solutions resemble a “make it up as we go along” data structure. (more…)

Votes are in, do you agree with our survey results?

iStock photoOn the day when the British Polling Council opposed a bill regulating opinion polls & provided more details on inquiry into election opinion poll failures (a cause we have championed), I’d like to encourage you to vote here on Customer Insight Leader.

 

Over the last year, we’ve run short surveys on a wide range of topics. Here are some of the results from you, the Customer Insight Leader “jury”. In our most popular polls so far, the results are… (more…)

Can Customer Insight mitigate Conduct Risk?

stopping risksIn light of the largest fine the FCA (or FSA) have ever issued, more and more FS firms are taking a closer look at their wider Conduct Risk management.

Most have the required minimum of MI in place.

Most CEOs say the right customer centric words with regards to strategy or culture. However, recent work with clients tells me that many firms recognise they still have some way to go, especially in the world of Insurance.

On recent training with customer insight teams, I’ve been sharing how insight can both help mitigate conduct risks and provide the evidence needed by the FCA. Such content covers the 5 aspects where FCA appear to focus, looking for sufficient focus on the customer in each of these areas: (more…)