In the Saturday, November 10 edition of the Wall Street Journal, Neil King Jr. wrote a terrific article titled “Top Ohio Republicans Ask Why Party Lost”. In it he discusses how the Ohio Republican brain trust used analytic models and polls which predicted that a “late tide of enthusiasm and independent voters” would swing the final [...]
Too many companies – looking to improve their customer experience through surveys – ask every question in the book to get at the critical answers. Sadly, their intention of listening to the customer turns into survey torture, instead.
Customer satisfaction, loyalty, and advocacy have all been hot trends over the past decade or two. Given the performance of most companies employing those tools, it would appear that the ‘holy grail’ of insights has yet to be discovered.
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While “taking resulting output from social media, coding it, factor analyzing it, then inputting it into segment clustering methodologies” may not be nuclear science or even rocket science, it is old science. Like Kodachrome facing the dawn of digital cameras, the majority of traditional, cognitive, market research methods and tools are simply not designed for the fast moving, emotion laden, social media world.
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Getting the features right is the rational aspect of building a product and is just the baseline. The product must do what it is intended to do. But, in a very crowded and competitive marketplace like consumer electronics, creating a product that engages people emotionally creates an economic advantage and a significant barrier to competitors.
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In conversations I’ve had recently with marketing executives, CEO’s, and brand guru’s there has been a common theme around the need to build stronger emotional connections with their customers. When I ask why, the replies are consistent… “because stronger emotional connections mean greater consumer engagement and loyalty; greater engagement and loyalty translates into greater margins and profit”.
Great managers, great leaders, and great companies are relentless in their desire to understand what drives and determines their audience’s decision-making process. They know that any attempt to influence the decision-making process is more or less a shot in the dark without understanding the underlying motivations.
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At the heart of every great business lies a strong, intuitive understanding of what motivates people to buy and what causes them to be loyal to a business and brand.
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