Recently, there was much ado in Australia as the Federal Government slightly reduced (less than 10%) the amount of money that it gives to new parents: the so called Baby Bonus. The reduction in this grant has caused a lot of dissatisfaction in the community. Could your customer delight program cause a similar backlash? [Read more…]
A series of articles
A series of articles
“Capturing Customers”, “Luring Customers”, “Attracting Customers” and “Keeping Customers” are all terms used daily in marketing departments. They invoke images of carefully prepared fly patterns, practiced casts and the adrenalin of a good strike, ending with the satisfaction of a catch of the legal size, a ‘keeper’.
Many organisations view customers in the same way that the fishing industry viewed Atlantic fish stocks.
Some marketers, (not you gentle reader) allow various product managers to fish the same customer waters day in day out. They use nets, lines, perhaps even explosives,in fact any technique they can to catch all the fish they can for their product line. Large fish, small fish, dolphins and seals, no matter, the sheer weight of fish is all that matters, catch them and the folks in accounts or risk management can sort them out later.
But it can’t go on forever and interesting things happen as fish stocks deplete. [Read more…]
I have always stressed to our clients that our goal is to provide them with 2 or 3 key customer insights that they can start work on immediately. Too often, customer research firms and consultants seem to bombard their clients with tens or hundreds of pages of analysis and recommendations. While a big fat report with plenty of graphs and charts may look impressive it just doesn’t work in practice.
The reason that these approaches do not work is simple; any organisation, be it one person, a small team, a division or even an entire company can only focus on doing 2 or 3 things at once. Any more than that and focus gets too diffuse. With a lack of focus comes a lack of progress. Then one thing leads to another and none of the “ten key priorities” gets done.
A much better approach is to focus on doing two or three things. Get them up and running then pick another two or three things to focus on. In no time at all you will have all ten key changes made in your organisation. [Read more…]
This recent blog article really struck a chord with me: Why Doesn’t My Market Segmentation Work?
The author makes some good points. I agree completely with them and want to go one step further.
I believe that customer segmentation often “does work” in that the answers you receive are completely, technically, correct. But in practice, it doesn’t work because while it is correct, there is often no way for the business to use the information generated.
Recently, we started working with a major financial services firm who had just completed a six month multi-hundred thousand dollar segmentation exercise. [Read more…]