By Kerry Juhl
The Responsibility & Privilege of Serving Customers
“A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption of our work. He is the purpose of it. He is not an outsider to our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us the opportunity to do so.”
– Mahatma Gandhi, 1890
This quote is more than 100-years old, but it is still true today. The opportunity to serve customers is a privilege. The responsibility of that privilege is ensuring the customer’s voice is heard and understood. Brand teams need to know what their customers need and what they value, as decisions about products and services are made on the customers’ behalf.
Defining Customer Value
Understanding customer value can be a differentiator for companies in today’s challenging market. Simplistically, if a brand team has $1 to invest – or needs to cut $1 in spending – knowledge about what customers’ value must guide these business decisions to stay competitive.
So let’s talk about customer value…In everyday conversations, value has many meanings including price, worth, or even benefits. It is imperative for organizations to operate with a common understanding of customer value. From a marketing and branding perspective, it helps to think about customer value as an equation:
Customer Value equals Benefits minus Cost (CV=B-C).
Benefits include the advantages of quality, service, image, brand, experience, and the functionality one gets or emotions one feels when using the product or service. Cost is not only price – which we think of as cash, credit, interest, even service fees - but it can also include non-price terms such as time, effort, energy, and convenience.*
When teams define their Customer Value Equation, they can clearly identify growth opportunities by emphasizing or improving aspects of an offering that customers value (where to invest) and they can identify cost savings by eliminating aspects of the offering that customers do not value (where to cut).
Developing the Customer Value Equation
SIVO employs a 5-Step Process to develop your Customer Value Equation. In partnership with our client teams, we Mine, Explore and Quantify the customer value drivers leveraging Functional, Emotional, Life-Changing and Social Impact values. Note that the Quantify Step can be qualitative consumer learning, a quantitative survey or ideally, a combination of both. The design of this step is dependent on how much past learning that the team already has in hand.
Four Categories of Customer Value
We then partner with teams to Develop & Refine the Customer Value Equation. Lastly, we help teams Apply their equation by assessing where their products/services are over/under-delivering and facilitate them through the generation of ideas to improve the customer experience.
The result of our process is rich with discoveries. These insights provide a unifying understanding of the target customers’ purchase drivers, must-haves and nice-to-haves regarding a product or service – giving teams confidence and clarity on what to do with $1 more or $1 less.
Our Offer to You
SIVO is interested in sharing our Customer Value Equation experience and case studies with you and your insights team! Our “CVE Download” can easily be part of an in-person or virtual “Lunch & Learn” or your next team meeting.
If you can answer “yes” to at least one of the following three questions, please reach out to SIVO.
To learn more, contact us at Contact@SIVOInsights.com.
*Referenced article by Gautam Mahajan https://journals.sagepub.com/doi/full/10.1177/2394964320903557
In your brand's early development stages, you likely gave much thought to the idea of a buyer persona.
You researched who you expected to purchase your products, how they would interact with your brand, and which factors would influence them to choose your brand over a competitor's. You painted a picture of what their needs are, what they do, and how their key motivators would align with your offerings.
Now, it's time to see that journey in action.
The path to purchase describes the journey that your target buyers take from the moment they first discover your product or service until they ultimately decide to buy it. The better you understand this journey, the easier it is to connect with them at key milestones and decision points to convert them from awareness to consideration to purchase, and then to repeat purchases.
Today, we're sharing how to conduct this research effectively and what to do with the results you uncover.
Put simply, the path to purchase encompasses all of the steps that your users take as they convert from a prospect into a paying customer. This can include multiple different channels, touchpoints, and platforms.
While each person's brand experience will be nuanced and unique, most leads take a few central steps as they travel along this journey. These include:
Also known as a customer journey or buyer journey, the path to purchase can be a valuable part of your audience analysis. It allows you to climb inside the mind of your prospective buyers, and current buyers and understand why and how they're engaging with your brand.
Let's break these stages down a little, explaining the important aspects to research and analyze.
The first step in the path to purchase is awareness. This is the moment that your prospective customers first learn about your brand, and it sets the tone and the stage for the rest of your interactions together.
Years ago, mass marketing campaigns were more effective than they were today. Modern buyers want customization and personalization at every turn, and 80% are more likely to purchase from a brand that offers tailored experiences. This means that gone are the days when you could send out one e-mail blast or a generic postcard to your leads and expect them to convert.
Now, the most effective ways to reach your target audience include:
Not only should these outreach measures be personalized, but they should also include a call-to-action (CTA) that encourages users to take that next step. Do you want them to check out your website, sign up for your e-newsletter, contact you to set up a consultation? Remember to make the CTA clear, actionable, and easy to follow.
Once you've initiated the path to purchase, you can track your marketing efforts, e.g., engagement and response rate, to understand how effective your chosen tactics were. For instance, with inbound marketing campaigns, most website analytics platforms, such as Google Analytics, or CRM systems, such as, HubSpot, allow you to easily monitor the traffic going to your website, the number of views each blog gets, or the success rate of your paid online ads.
Regularly review these numbers to understand which channels are the most successful. Then, fine-tune the most profitable ones and look for ways to eliminate or phase out the ones that aren't as fruitful.
For larger brands with national distribution, you can also conduct advertising and brand awareness tracking research to understand the percentage of consumers who are aware of your advertising and brand, pre vs. post the execution of your marketing campaign or in regular intervals such as, one or two times per year.
Key questions to ask at this stage include:
Piquing the interest of your target buyer is only the first part of the path to purchase. Next, the prospect will consider all of the features that your company or product offers, comparing them against others in your same space. They're looking for differentiators that set your brand apart, such as price point, quality, speed of delivery, product features, and more.
To perform this competitive analysis, they may perform the following steps:
At the core of this step is the buyer's need for information and insights. If you can provide this intelligence about your solution better than anyone else can, then you're more likely to move them from this phase of the buyer journey to the next.
In this step, you'll need to research and manage your online presence and reputation. Do you know what your target buyers will see when they search for your brand name online?
There are reputation management tools that can help you uncover and respond to your company reviews. In addition to the reviews on your website or Google Business Profile, remember to also check common and industry-specific third-party review sites.
Another area to research is how well you've explained and demonstrated your product or service. If a prospective customer wanted to learn more about how your solution works, are there online descriptions, manuals, sheets, videos, or in-store signage that make this step simple? The more transparent you can be, the easier it is to compare your solution against another.
Key questions to ask at this stage include:
After a lead discovers and researches your brand, they may decide to take that next step and make a purchase. To help them get there, you'll need to provide information that reveals why your company or offering is the best fit for their needs.
Depending on the solution you offer, this could require the buyer to make a significant investment. They'll want to review all of their options and compare top features to make sure they're making a wise decision.
This final stage of the path to purchase is all about sealing the deal. Research your company's current methods for engaging prospects and moving them along the sales funnel.
Some companies with “Business to Business” (B2B) offerings might use this time to perform presentations, pitches, and demos to share how their products work. Others with “Business to Consumer” (B2C) offerings might use advertising, on-package claims, third-party endorsements and in-store signage to demonstrate their benefits to prospective buyers. . The nature of your business and the type of audience you serve will dictate the exact strategy you deploy.
Key questions to ask at this stage include:
At each stage of the consumer path to purchase, you'll have the opportunity to gather insights into buyer behaviors. As you do, it's important to know what metrics to track, when to dive in, and who to involve. Here are a few tips to help you make the most of the data you obtain.
As brands seek to improve their buyers’ path to purchase experience, most are focused primarily on hard numbers, aka quantitative data, about the purchase, including volume, amount and frequency of sales, who and where purchased, percent of repeat purchases, etc. While this type of behavioral data is extremely important -, but don't underestimate the value of qualitative insights about the buying journey.
The ultimate goal of each phase is to understand the mindset of your buyers, and you can't get there with quantitative measurements alone. You need to understand the emotions that your prospective buyers are feeling, as well as what's behind their concerns, hesitancies, and excitement.
A few of the ways you can capture qualitative feedback include:
Not only are these insights helpful in directing your current and future campaigns, but they can also motivate your internal stakeholders. If you can share direct quotes and client feedback with your C-suite and marketing teams, it's easier for them to understand the human side of their work, in addition to the technical and economical side.
For some B2C companies, there is a primary shopper involved in each brand interaction. However, most B2B transactions involve other, behind-the-scenes decision-makers and influencers.
As such, resist the temptation to consider the path to purchase as strictly linear and one-dimensional in nature. In reality, it's more multi-faceted and complex.
Try to learn about the key stakeholders involved in buying decisions, as well as their specific roles. It also helps to understand how they interact with one another, as well as when each one enters and leaves the buyer journey. While some will be involved from start to finish, others may join and leave at different times.
To get the fullest view of your path to purchase, don't start your research at the first time the buyer and seller interact. Instead, go back even further to the pre-shopping stage. Increasingly, this means analyzing how buyers live, work, and how they find and compare offerings to meet their needs.
Today, most buyers are hopping online to discover new brands. In fact, in the B2B sphere, the average customer performs 12 different searches before deciding to engage with a specific brand. While it can be difficult to pinpoint exactly when a buyer first discovers your brand, spend time exploring different purchasing triggers to understand how to optimize these interactions.
As you research and learn more about your customerpath to purchase, you can customize and fine-tune your offerings and marketing communications to appeal precisely to those who are interested in them the most.
At SIVO, we're dedicated to helping our clients understand their buyers' needs, beliefs, and behaviors. We can help you gain visibility and address challenges by asking the right questions directly to your target audiences. Then, we'll work with you to turn those insights into actionable steps that can drive conversions, improve engagement, and build brand reputation. Contact us at Contact@SIVOInsights.com or go to SIVOInsights.com today to schedule a discovery call and connect!
by Cindy Blackstock
In Part 1 of our Jobs Theory series, we described how uncovering the underlying needs and motivations of consumer decisions leads to new opportunities for product innovation, renovation and positioning/messaging. Now let’s dig into the keys to success for Consumer Job Mapping.
“Jobs to Be Done” mapping works for all industries and any products or service to create a competitive advantage for your company or brand. There are a few points to consider when embarking on jobs discovery:
There are multiple ways to understand your consumer: in-home observation, longitudinal diaries, one-on-one interviews, in-context intercepts, etc. The optimal approach should be customized for your objectives and your consumers.
Enlist an experienced researcher to listen and interpret your consumers’ words and behaviours to identify the Job. For example, consumers cannot answer the question “What job are you hiring this face cream for?” Asking the right questions in the right way is key to uncovering hidden motivations.
A jobs map will be comprised of multiple jobs ranging from functional to emotional. Ensure each job has been defined – or structured – with context, motivation, and desired outcome. For example, a consumer statement such as “When (the situation) … I want / need (the motivation) … so I can (outcome).
Go beyond just identifying the job. Use activation sessions to translate the Jobs to address your team’s business goals. For example, mapping competitors against your jobs map identifies “white space” opportunities for new product innovation.
At SIVO, we have successfully helped our clients identify opportunities with Job Mapping including white space and positioning opportunities to win in the market place. Here are a few examples to bring it to life.
Innovate in an existing category
OPPORTUNITY: A food manufacturer wanting to find white space in the hot snack category to grow sales and earn a bigger share of consumers’ wallets.
SIVO APPROACH: We used a multi-phased approach to get a comprehensive view into the lives of their consumers. This included mobile journals, in-home ethnographies, in-store intercepts and product user immersion.
RESULT: With the Jobs Map framework, the client was easily able to identify and prioritize jobs signalling white space opportunities, and that led to the launch of a new and unique product to the hot snacks category.
Communicate with your target
OPPORTUNITY: An apparel supplier needed to more fully understand a new consumer target to develop effective messaging.
SIVO APPROACH: We dug deep with both consumers and the sales team to uncover hidden motivations for apparel purchases. We designed an approach that used online boards to capture longitudinal learning (multiple days of apparel choice) followed with webcam focus groups to dig deeper on what was uncovered during the online board.
RESULT: We learned how the target consumer “hired” her apparel and accessories to convey her personal style. This discovery was then reflected in our client’s Facebook and Instagram posts with a focus on the finer details and accessories that are unique to this apparel brand.
Position your new product
OPPORTUNITY: A tech start-up had developed a training app for athletes and were preparing for their next wave of fundraising. They needed to demonstrate they knew their target consumer and how to communicate with them. The company had a hypothesis around what their target consumer was looking for but needed to be sure.
SIVO APPROACH: We needed to capture the First Moment of Truth when exposed to the app and the Second Moment of Truth after using the app. We combined one on one interviews capturing the immediate reaction to the app, followed by a 2-week diary using the app, then one-on-one interviews to learn about the experience.
RESULT: SIVO uncovered an new consumer job, “I want to train like a pro” which was more compelling than the client’s original positioning for the App. The client shifted the messaging, in their introductory video, to focus on this job.
Are you ready to uncover, activate and deliver on your consumers’ jobs through data-driven product evaluation services? Please reach out to SIVO and we will help you build a Consumer Job Map that is full of opportunities to grow your business!
Today I am sharing useful tips for successfully executing virtual consumer conversations. They center around being human: acting in a genuine, respectful way and establishing trust.
Include criteria for having a stable Wi-Fi connection and familiarity with the tech platform being used. If the platform is new to participants, ensure you build in time for set up and practice before the interview to increase their comfort level.
If your study involves thoughtful writing exercise(s), make sure recruiting criteria have a written articulation component so they are not surprised by the type of communication that is expected of them.
Tip #2: Set Clear Expectations So There are No Surprises
The more participants know ahead of time, the more comfortable they will feel entering the discussion and the more open they tend to be. In addition to the basics, make sure:
Participants know what will happen during the interview. For example, is it a one-on-one conversation, or will others observe? Will you be sitting stationary in front of the camera or taking a ‘field trip’ to their pantry or garage?
What should they wear? (most ask…encourage comfort unless it is part of the research). Should their phone be on silent? (yes). Is it ok to have water or coffee? (yes, you want them to be comfortable), but please no meals unless it is an eating experience! Do they need to make arrangements for kids and pets so they are not distracted? (yes, unless they are part of the conversation). For mobile missions, no driving while participating (yes, this has happened!).
For online consumer behavior research to be most effective, participants are advised to log on five minutes before the scheduled interview time, so no time is wasted in setting up.
People are able to have a quiet place to conduct the interview to avoid potential inside or outside distractions.
When part of an online consumer research panel, it's important to “introduce” yourself via email and provide a picture so participants know whom to expect on the other end of the screen. Communicate how excited you are for the conversation, so they feel their input is valued before you even begin.
Log in early so you are there before the participant, smiling and welcoming as they enter the interview.
Minimize your own distractions such as only having exactly what you need for the conversation open on your laptop (the worst is hearing the constant email ‘ding’ as you are leading a conversation…trust me).
Have and communicate a back-up plan should tech issues arise (they will) so the interview isn’t a bust.
Energy! The last interview of the day should feel like the first one. Build in enough mental breaks and move from behind your screen to get some fresh air. Coffee helps too.
Life happens. Allow for tech issues, dogs barking, doorbells ringing and kids interrupting because these things WILL happen. Be forgiving and empathetic. Explain it happens to the best of us and that you will be patient while they figure it out.
If it becomes too much or too long of a distraction, ask if participants need to reschedule for a time that may be better for them. A stressed person is not an open or insightful person.
Observing is still just as important as listening in producing those insightful golden nuggets. I recently led a one-on-one video interview with a man wearing an “Own the Moment” t-shirt. I thought it was relevant to our topic and used it as a way into the discussion. It led to some really insightful personal truths and informed the learning in a way that might not have if it wasn’t pursued.
Like every research method, there are benefits and trade-offs, but I am really enjoying and finding great success with virtual research, applying familiar principles with a human-inspired tech-twist. Please contact the SIVO team at Contact@SIVOInsights.com to discuss your research needs and if virtual may be the right approach for your needs!
What if you could gain access to the high-quality insights you need to uncover new opportunities and propel your team toward success?
SIVO collaborates with you to understand your most critical needs, then designs and executes best-in-class custom market research using modern research capabilities. We provide actionable consumer insights that align with your business goals.
SIVO also specializes in Organizational Intelligence, Market Intelligence, and On Demand Talent. Individually and collectively, we use our qualitative, quantitative, and facilitation capabilities to deliver actionable learning.
by Brent Budke
In today’s economy and remote working environment, there is much discussion about the need for a fractional workforce. The U.S. Chamber of Commerce notes that fractional hiring began in the academic world but then expanded to small start-up businesses that were looking to fill skill gaps. Now it has become just as important in larger companies that can’t afford the loss in business momentum that often coincides with open positions.
What is a fractional employee?
Fractional employees (or what we refer to as SIVO On Demand Talent) are typically Professionals or Specialists with unique or advanced skillsets, that only work for a set number of hours per week and/or for a finite timeframe. This can be beneficial for the employer as the company only pays an hourly rate for the agreed-upon time per week that the Professional works. Engagements can be 10 to 40 hours per week for a specific timeframe, such as, 2 months, 6 months, or a year.
This type of engagement can also benefit the fractional professionals who prefer to only commit to working shorter time frames or prefer to divide their time across multiple employers. For instance, a fractional employee might work 2 days a week at one company and 2 days a week at another non-competing company to enjoy a 4-day workweek. Having specialized skills or valuable work experience tends to make fractional professionals attractive to employers who might not need or can’t afford a full time, permanent employee.
Today’s work environment makes this scenario even more attractive as companies have learned to function with employees working remotely, which gives them a broader pool of fractional professionals to choose from.
THREE KEY BENEFITS OF FRACTIONAL EMPLOYEES:
1. Maintain momentum without burning out current employees
We’ve all experienced the pain of doing your own job and covering for another team member who is taking a needed leave-of-absence or has left the company. It often creates a surge in workload for supervisors or for teammates when the business cannot afford to slow down or pause critical business initiatives. Open roles can cause remaining team members to be overworked or overwhelmed, leading to mistakes and eventual burn-out. Fractional or temporary employees can be a great solution to keep the business running, to cover temporary openings and to allow the normal hiring process to play out.
SIVO Note: Hiring fractional insights professionals is even easier if SIVO is already on your company’s “approved vendor” list. Our first step would be to meet with you to understand your business, key needs, and focus areas. From there, the SIVO On Demand Talent team will create a personalized approach to match the optimal talent to the business needs to ensure success.
2. Gain immediate expertise - No training necessary
It can take months to find, hire and train the talent you need to fill open roles. Hiring fractional employees can help you move forward quickly and right-size your talent, getting a person in place within a week or two vs the months needed for a typical hiring process. Additionally, the beauty of fractional on demand talent is that they have already been vetted and assessed for certain skill sets and expertise, so no training is needed. Lastly, experienced fractional professionals can bring a fresh perspective and new approaches to your team and projects.
SIVO Note: SIVO On Demand Talent team leverages our extensive pool of fractional insights professionals with years of experience and expertise across an array of industries such as, CPG, Healthcare, Financial, Technology, Apparel, and Retail. Whether you need an Insights Associate to execute research projects or an Insights Director to help teams develop strategy and design learning plans, we can match the right talent to your unique needs.
3. Save the company money by focusing on specific business needs
Because fractional employees are typically classified as contractors for the purposes of payroll and taxes, employers don’t have to deal with costs associated with the hiring process nor the costs of typical benefits, such as health insurance or 401k contributions. That saves the company time and money while still staffing teams with highly qualified professionals. Below is a high-level comparison for fractional Insights Talent vs Full-time Insights employees:
SIVO Note: The advantage of working with SIVO for fractional insights professionals is that our team has access to a full-service consumer insights agency for ad-hoc resources, tools, and consultation.
We’d love to talk to you about your needs and how we can match the right talent to quickly make an impact in your business. Please contact us at OnDemandTalent@SIVOInsights.com or visit our website at SIVOInsights.com.
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
