Every business has customers, but how well they know their customers is another question. In a recent Harvard Business Review blog, Peter Merholz explains that many large companies lose that vital interaction with their customers as their business begins to grow.
“Business cannot exist without customers, so it’s sadly ironic that many, if not most, businesses, actually understand so little about them,” says Merholz. “In order to become customer experience-driven, you need to go beyond who your customers are, and understand what they do.”
While it may feel tempting to place your customers into simple, definable categories, Merholz urges companies to dig deeper and understand their customers as real people living in a messy, complicated world. What does that mean for your company? It means going beyond the high-level data and seeking to understand and appreciate your customer’s behavior and true motivation.
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Do customers want to ‘hire’ your product?
Through SIVO On Demand Talent or with SIVO custom qualitative research, our clients uncover the underlying motivations behind their customer’s unique behavior. With SIVO On Demand Talent, we have storytellers who mine existing research to bring our clients’ customers to life. And, we ensure the next phase of research fills a customer knowledge gap, extending our clients’ research budgets. With SIVO custom research, our clients tap into valuable customer insights through approaches like In-Store Intercepts, Shop-Alongs, and Ethnographic research, to gain clear, in-depth analysis of their customer in the context of their daily lives.
How well do you know your customer? Maybe it’s time to take a deeper look…
Contact us at Contact@SIVOInsights.com for more information and next steps.
Is your organization hungry for strategic intent?
We are living and working in an environment that is full of volatility and change. Many organizations are hungry for strategic intent, a term used to describe the intended direction, purpose, and plans that leaders put in place to achieve their organization’s vision.
SIVO Insights helps organizations set their strategic intent, by leading and facilitating the strategic planning process. This strategic planning process can be summarized into three steps. Leaders must:
1. Assess,
2. Align
3. Articulate
STEP 1: ASSESS
Leaders must gather and assess relevant trends, consumer insights, market intelligence and institutional knowledge to answer critical questions across the 5C’s Assessment Framework.
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Do customers want to ‘hire’ your product?
STEP 2: ALIGN
With this knowledge in hand, leaders participate in a facilitated strategic planning session to review their assessment of the 5C’s, to ideate, prioritize and most importantly, to align on the mission, vision, and values that will carry the organization into the future.
STEP 3: ARTICULATE
Lastly, leaders need to articulate their strategic intent—the vision, mission and values as well as the plan—to employees, collaborators, stakeholders, and in some cases to consumers and customers. This communication needs to happen repeatedly, in multiple forums, in-person or virtually, in internal documentation, as well as, in external communication. Strategic Intent can’t be communicated enough to ensure it is internalized by all parties.
In this time of continuous change, with a refreshed grounding in foundational insights and market intelligence, combined with solid strategic planning (i.e., Assess, Align and Articulate), you can give your organization and your stakeholders what they are hungering for . . . strong strategic intent. Let SIVO help with strategic intent consulting!
Schedule a discovery with SIVO to learn how you and your leadership team can create or re-establish your organization’s strategic intent.
Through SIVO's "Modern Ways of Working" Mini Chat series, we spoke with innovative consumer insights leader, Jackie Waller, Senior Director of Enterprise Research at The Standard about how to meet the needs of the business while also managing the workload of her Insights team.
One of SIVO's leaders, Brent Budke, connected with Jackie to have a "Mini Chat" about the different strategies she employs, including the SIVO, Inc. On Demand Talent fractional staffing solution, to manage workload surges while leading the market research needs of her growing company.
Check out the entire interview here!
https://www.youtube.com/watch?v=Rz792S-dLW0
Many thanks to Jackie for generously sharing her experience and knowledge with our peers across the Insights industry!
Bringing you innovative performance marketing and
real-time digital shopper insights.
SIVO strives to be on the forefront of new technology and innovations in the insights industry. That is how we discovered Pear Commerce, a brilliant technology company that is on-pace to be the largest provider of shoppable media by the end of 2022!
In 2018, Pear Commerce was founded by two talented serial tech entrepreneurs, Eric Martell and Alex Wyler, bringing their tech expertise to the world of retail.
What is Shoppable Media?
Shoppable media in retail means connecting any media (e.g. free and paid social, digital display, content, influencer, email, owned webpages, etc) to retailers with add-to-cart (ATC) functionality that is just “a click away”.
What are the benefits to Consumers?
Pear provides an industry-leading technology making shoppers online path to purchase frictionless which has been a leading reservation for consumers to shop online. Whether through a digital ad or your brand’s website, Pear uniquely gives consumers a “where to buy” choice, based on real time stock inventory checks and connects them to over 2,000 retail chains across the U.S. That is a clear point of difference.
What are the benefits to Marketing Teams?
A unique way-in to performance marketing. This revolution of advanced technology provides more data and less work for brand teams with real results. At the foundation, Pear provides full funnel click-to-conversion data which improves digital marketing performance while campaigns are in-market. They help marketers with:
What are the benefits to Insights Teams?
At this point you might be thinking, “That’s great, but isn’t SIVO an insights company?” The answer is, “Yes!” SIVO is all about understanding people and in this case, Pear’s technology helps SIVO and our clients better understand consumer preferences and consumers’ digital shopping behavior through real-time, in-market experimentation, such as:
As an example, Pear was able to help a CPG client create a data-driven approach to managing their digital marketing campaigns while also helping them to understand and optimize the plan based on shopper and retailer behavior.
The results were fantastic! Pear created custom audiences for the brand using the client’s own 1st party conversion data and saw 5x add-to-cart (ATC) rates compared to 3rd party audiences and 20x ATC rates compared to the client’s website visitor audience. During the process, Pear scanned over 2,000 retailer’s digital shelves for real-time inventory to help shoppers purchase at their retailer of choice while also helping them avoid hitting out-of-stocks. The client also received valuable digital path to purchase insights and A/B testing results on different creative options to help optimize their digital campaign along the way.
Through our partnership with Pear Commerce, SIVO can now help you achieve strong digital marketing results and new insights via performance marketing and real-time digital experimentation. To learn more about Pear Commerce and SIVO Market Intelligence solutions, please contact our SIVO team at Contact@SIVOInsights.com.
By Kerry Juhl
Do you know how your customers feel about their experience with your brand? Do they love it, or does it leave them feeling frustrated?
If your customers don’t love their experience with your products or services, your market share is likely at risk. According to a study from PWC,
Even if people love your company or product, in the U.S., 59% will walk away after several bad experiences, 17% after just one bad experience.
You cannot afford to not know how your customers are experiencing your brand.
The Importance of your Customers’ Experience (CX)
Understanding your customers’ experience can identify product or service flaws. It can be important, even if you are coming from a place of strength. It allows you to build stronger customer relationships, seize new growth opportunities, and maintain a competitive edge in the market. Companies that prioritize a strong understanding of the customer experience are better positioned to meet the needs of their customers where they are and how they want to be served. This allows companies to thrive in today’s customer-centric business environment
Typical Stages in a Customer Journey
The customer journey is typically divided into sequential stages that represent the key phases of the customer’s interaction with the brand. Stages typically align with the marketing funnel and include “Awareness,” “Consideration,” “Purchase,” “Retention” and “Advocacy.” These stages may differ, depending on the industry, category, or channels that the brand is competing in.
What is a Customer Experienced Journey Map?
A customer experience (CX) journey map is a visual illustration that outlines the steps a customer takes when interacting with a company, brand or specific products or services. It helps organizations gain a deep understanding of the customer’s experience, including their motivations, decision moments, delights, pain points, and emotions that come into play, across all the touchpoints with a brand. Companies may also map the customer journey for competing brands to better understand product strengths and opportunities in a competitive context.
Understanding the Experience
Building a customer journey map requires comprehensive qualitative research exploration and is often followed by quantitative validation. CX Insights Experts start with a combination of observation and qualitative methodologies (e.g., mobile missions, bulletin boards, shop-alongs, in-home visits) to facilitate in-depth conversations with brand or category users. This allows them to delve deeply into each key milestone and brand touchpoint within the customer journey. With the qualitative exploration completed, experts will often conduct an online quantitative survey to validate the journey and quantify the consumer experience with statistically significant sample sizes. Note that the journey may differ for various user segments (e.g., younger vs. older customers, multicultural customers, households with kids vs. no kids, etc.) so the research must be inclusive of customer groups that are important to the business.
Activation Planning with a CX Journey Map
Once the CX Journey Map is complete, it is time to bring the team together to immerse and align on the learning and develop an activation plan. SIVO recommends a 1-day workshop with key team members and stakeholders to:
A Key Asset to Customer Journey Mapping
Hiring a strategic market research agency with proven CX experience, or a fractional Customer Experience (CX) Insights professional to lead the journey mapping process will set you up for success. You will need experts who have a strong background in CX research design, journey mapping, research execution and activation planning. They will help your team:
Contact SIVO, Inc. at Contact@SIVOInsights.com to discuss how SIVO can help you map your customer experience. Also, check out SIVO’s On Demand Talent Profiles to learn more about how a fractional Customer Experience (CX) Insights Manager can be an asset to you and your team.
SIVO Insights brings together research, talent, and intelligent technology to help organizations navigate complexity with confidence. Have a business challenge? Let's talk!
We bring together research, talent, and intelligent technology to help organizations navigate complexity with confidence
