helping you master customer insight leadership

Event: B2B customer insight

Cutty SarkLeading insight for a major life & pensions provider for many years, you become painfully aware of the added difficulty in reaching strong insights on B2B customers. Although at first B2B insight can just appear less developed as a market, with a much smaller quality data provider market and still more of a focus on sales management and brand (almost where B2C was 5-10 years ago); on reflection this is not the case.

It is more challenging to develop as robust analysis (mainly due to data challenges driven by both less capture and matching challenges) and more challenging to interpret robust research (mainly due to multiple relationships and opaque decision making hierarchies/influences). However, on closer inspection, some of the challenges being attempted for B2B insight are both more challenging and able to create a bigger commercial impact if achieved.

So, I was pleased to see a tweet & blog post from Peter Lavers and the team at Customer Attuned on the lessons that B2B and B2C insight can learn from each other.

Earlier this year I attended an event run by them entitled “The Great Debate” (part of a series of such events), with this one being held at Greenwich. I was reticent to write too much on my thoughts from this; as it is a Chatham House rules meeting. However, Peter has usefully shared the key anonymised lessons learnt on his blog. The above link is well worth reading.

Any other thoughts from those who like me have had the challenge of both B2B and B2C insight? Did others also find the approach to NPS needed to be tweaked? Do reply with your comments.

Event: More Behavioural Economics at a Cricket Ground

Following my presentation at Edgbaston, last week I also presented at the Gloucestershire County Cricket ground in Bristol. Clearly the CII favour the view over a green for their regional market forums. Anyway, it was another opportunity to share my thoughts on Behavioural Economics and why it matters for Insurers. Another positive response and good engagement from a mixture of insurers, brokers and related agencies; which promises well for this industry engaging with the FCA’s challenges in this area.

To help spread the word further, below I share the presentation that I used:

Happy to offer training or consultancy to companies wanting to engage with this challenge. To my mind expertise in this area is a natural and needed fit with customer insight teams within Financial Services.

Infographics

I believe in the importance of data visualisation, both because most people can more readily understand a visual representation than tables of numbers and because it is a useful language with which to communicate not just analysis but story. In other words, the challenge to appropriately visualise data or analysis, encourages the analyst to get closer to insights.

Anyway, I’ll blog more on that wider topic another time, for now I just wanted to share links to two agencies whose work on infographics have impressed me. If you’ve not come across them before, see if these spark any creative ideas…

Home logo

There is always a risk that fashion obscures function, so I am aware of the risk that some people now equate data visualisation with infographics, which would also be a mistake in my book. So, as promised, more on data visualisation to following a later post, with the obligatory reference to Edward Tufte.

For now, please do feedback with your experience of infographics. Any tips?

Event: CII Regional Market Forum

Good to present at this event on the relevance of Behavioural Economics to the Insurance industry. I’m used to presenting on this theme to marketers but it was interesting to engage with underwriters, brokers and other insurance professionals.

CII Regional Market Forum

 

The follow-up to this will be an article I’ve written, entitled “Why Behavioural Economics matters for Insurers“, to be published in July’s CII Journal.

Plus it afforded us all a fine view of the grass at Edgbaston:

Edgbaston

 

 

Poll: Customer Insight, the forgotten leader?

Joseph BeuysWhilst leading the largest customer insight function amongst UK insurers, I was struck how poorly served CI leaders are; in terms of coaching or consultancy support. Compared to my peers in Marketing or Operations, this looks like a real gap in the market.

Sure, there was technical training for members of an insight team; be that in analytical software, SQL coding, statistics, data management or research methods. Plus, yes, there is a wealth of general management or leadership support available; from softer skills training courses to executive coaching at the other end of the spectrum. However, the gap I’m referring to is the “filling in that sandwich”. The art and science to effectively use the range of technical insight skills in concert and in a way that drives action (to both improve customer experience & to make money).

So, why the gap? Well, as far as I can tell the audience is not well understood. There does not appear to be an agreed common definition of Customer Insight; for example some companies use this term to refer to research, some to analysis and few to the combination. But I wonder if it is also because it is only fairly recently that customer insight leaders have risen to greater seniority and influence within companies. Few of this brave band have since moved on to consultancy and training, so a practitioners perspective is rarely available as an offering.

I’d be interested in hearing existing customer insight leaders thoughts on this:

 

Event: Data IQ Now 2014

I had the pleasure of attending and presenting at this conference. It was an enjoyable and useful event, hosted at etc Venues near St Paul’s, which seems to be a popular location for such events this year. David Reed was as ever a convivial host.

For me the stand out presentation was from eBay, a clear message on simplification to manage complexity, that is so relevant in getting from too much data & even too much analysis to clear recommendations that can be acted upon.

I’m pleased my presentation was also well received, especially as it was my last opportunity to present on behalf of Lloyds on the good work that has been achieved there. Exciting times ahead for that organisation as the focus that we’ve built over years (on customer needs not just product sales) is implemented to actually control interactions across a massively multi-channel, multi-brand, multi-product environment.

[embedyt] https://www.youtube.com/watch?v=mQafQWCawXw&w=560&h=315 [/embedyt]