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Module on Listening to the Customer presented 7/2/12 to the inaugural Venture for America class
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Listening to the Customer
Venture for America CourseJuly 2, 2012
July 2, 2012 2
Outline• Identifying the target customer• How do you listen to the customer?• What is the “pain point” or opportunity that
your product or service is solving for them?• Market Research tools– Informal surveys– Focus groups – live or virtual– Quantitative research – Survey Monkey
• Case Studies – brands built on listening
July 2, 2012 3
Identifying the Target Customer
• Who is your core customer?• Do you know and understand why they buy your
product or service?• How did you find them? How did they find you?• Are they growing or shrinking?• Are there others like them to grow the market?• Are they passionate about your product or
service? If so, how do you harness that?
July 2, 2012 4
How do you listen to the customer
• Ideas?
July 2, 2012 5
How do you listen to the customer
• Reactive– Customer Calls– Emails– Comments/Suggestions– Retail interaction– Social media “buzz”
• Proactive– Soliciting feedback– Market Research
July 2, 2012 6
What is the “pain point”?
• From Best Customer Experience Companies.• From Worst Customer Experience Companies.
July 2, 2012 7
What is the “pain point”?
• Zappos – finding the right shoes.• Comcast – waiting for a cable repairman.• Colgate-Palmolive – are the clothes really
clean – how does that reflect upon me as a mother?
• P&G and Betty Crocker – add an egg to the pancake mix
July 2, 2012 8
Case Study – 1800Flowers.com• Extensive qualitative, quantitative, and
behavioral customer analysis done.• From listening, understanding key target
customer – “Tina”.• Changing brand positioning – her need to give.• Execution with Mother’s Day – Spot a Mom
campaign.• Results - +9% versus projection, despite the
recession.
July 2, 2012 9
Case Study – Solvate
• B2B Freelance talent marketplace.• Focus groups with Small Business owners.• Confidence key pain point.• Repositioning – 5 hour guarantee, “Talent you
can Trust”.• Business pivot – changed to a subscription
model.• Results – Record Revenue in the quarter after
the new positioning was launched.
July 2, 2012 10
Market Research Tools• Qualitative - Informal Survey – class exercise –
how was the presentation this morning?
July 2, 2012 11
Informal Survey Results
• # who learned a lot from this morning’s survey – 24/40 – 60%
• # who didn’t learn a lot – 0 – 0%• # who are confident that they understand the
components of customer experience – 31/40 – 77.5%
July 2, 2012 12
Market Research Tools• Qualitative - Informal Survey – Anecdotal, dangerous
to make business decisions from this• Qualitative - Focus Groups• Data Analysis of customer behavior – purchase
history, Google Analytics• Quantitative Survey – Survey Monkey – all of you fill
out feedback on the workshop this morning and we’ll review the results
• https://www.surveymonkey.com/s/ventureforamerica
July 2, 2012 13
Survey Monkey Results
• Enjoyed presentation 44% top 2 box• Learned about the importance of Customer
Experience – 40% top box, 96% top 2 box• Good understanding of Customer Experience –
90%• Good measures of Customer Satisfaction• Net Promoter Score - -51%
July 2, 2012 14
Questions?