Date post: | 23-Jan-2018 |
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Paul Laughlin, Managing Director, Laughlin Consultancy
The Softer SkillsData Professionals also need these to make an impact
Background
❖ Created and lead customer insight teams for all the major insurance brands, products & channels used by Lloyds Banking Group over 13 years
❖ Added over £11m incremental profit to bottom line annually
❖ Pioneered work with FCA on Behavioural Economics in comms
❖ Developed capability in team of 44 & mentored next generation of leaders
Business“Helping businesses make money from customer insight”
Laughlin Consultancy helps companies maximise sustainable value from their customer insight, for example by growing their
bottom line, improving customer retention and demonstrating to their regulator that they treat customers fairly.
9 Step Analysis Model
Question
Data Analysis Insight
Planning & Design
Presentation & Distribution
Solution
Buy -‐ in Sign -‐ off
“Contracting” translating business
questions into actionable,
analytical terms
“Delivering” expressing analysis
& insight in actionable business
terms
Addressing business need
Transparency of activity
Engagement with key stakeholders
Socratic questioning
❖ Aim is to help client have clarity on need not just what they want:
❖ Concept clarification questions
❖ Probing assumptions
❖ Probing rationale, reasons & evidence
❖ Questioning viewpoints & perspectives
❖ Probe implications & consequences
“By failing to prepare, you are preparing to fail” Benjamin Franklin
10
Planning & Design stage
Question
Planning & Design
11
What do we already know?
What am I missing?
How could I fill this gap?
How am I going to communicate
findings?
What are the Hypotheses?
You could start at any point in the cycle but you should look to
address all elements in completing your
analysis
Design Map
Who
Use / Involvement / Experience
Shopping/Buying
Engagement / Influences▪What characterises the customer/ segment −demographics −stage of life −attitudes −behaviours −dissatisfactions −routines −etc
▪What are their chief concerns in life (attitudinal data)?
▪What are their key needs and aspirations?
▪What are their circumstances and what is going on in their lives that impacts how they see the category?
▪What motivates them?
▪What are their preferred channels for researching and purchasing products and how does this compare with other types of products?
▪How do they make a purchase decision and what factors are important?
▪What are their attitudes to advice? What prompts/triggers them to seek advice?
▪How do they perceive your brand vs other brands? (product category and wider)
▪How do they become aware of the category?
▪What is there attitude to planning for the future? When do they think ahead, what triggers this?
▪When do they reconsider their choices? What prompts change?
▪ What and who influences them and their choices? Who do they turn to for guidance/information/ recommendations?
▪What competitive product holdings do they have and why?
▪When are they receptive to messages?
▪What does the segment need and want when buying your products?
▪What products are they most likely to buy and why?
▪What is the current customer experience?
▪What are the key dissatisfactions (irritations, frustrations etc) with the current process?
Pricing/Finances
▪How engaged/informed/involved are they with regard to competitive pricing?
▪What products do they hold? How does this contrast with other segments?
▪What triggered their purchase? What stops them buying?
▪Do they go on to buy something else? (us or competitor)
▪What are their goals and to what extent do they plan their spend (budgets)?
12
Insightful questions
“Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.” Alexander Hamilton (American politician)
13
Buy-In stage
Question
Planning & Design
Buy-‐in
“A moment's insight is sometimes worth a life's experience” Oliver Wendell Holmes, Sr. (American writer)
15
Insight stage
Question
Data Analysis Insight
Planning & Design
Buy-‐in
Media and Technology Trends
Regulatory Environment
Socioeconomic Stats
Competitor Intelligence
Market Developments
Qualitative Research
Quantitative Studies
Tracking Studies
Meeting Customers F2F
Customer Complaints
Listening in at Call Centre
Those who meet customers
Sales, Customer & Transactional data
Communication Evaluations
Behavioural
DataEnvir
onment
Research Customer
Conne
ction
Customer Personas/Vox pops
Customer Experience Study
Market Intel. Team External MI Database
Data Team Analysis Team
Research TeamCustomer facing
Colleagues
16
4 sources of Insight
“Think like a wise man but communicate in the language of the people” William Butler Yeats (Irish poet)
17
Sign-off stage
Question
Data Analysis Insight
Planning & Design
Buy-‐in Sign-‐off
Communicating your analysis
Question
Data Analysis Insight
Planning & DesignPresentation & Distribution
Buy-‐in Sign-‐off
Storytelling
❖ People are engaged by stories
❖ Psychological studies show better attention & recall (esp. feelings)
❖ Common templates: ❖ “Just imagine, if…” ❖ “Wow! I’m going to tell… about this” ❖ The Burning Platform
Data Visualisation Principles
❖ Graphical integrity
❖ Data-Ink
❖ Chart Junk
❖ Data Density
❖ Small Multiples
Influencing the Outcome
Question
Data Analysis Insight
Planning & DesignPresentation & Distribution
Solution
Buy-‐in Sign-‐off
It’s all about taking action
❖ Ensuring request is for action
❖ Designing analysis for action
❖ Including recommended actions
❖ Progress updates on action
❖ Measure effect of actions
© Laughlin Consultancy Ltd, not to be used without permission.
Influencing at the Top Table❖ What’s on their agenda?
❖ Bring Customer updates
❖ Bring Commercial updates
❖ Joint updates with Marketing, Sales or Ops (collaborate)
© Laughlin Consultancy Ltd, not to be used without permission.
9 Step Analysis Model
Question
Data Analysis Insight
Planning & Design
Presentation & Distribution
Solution
Buy -‐ in Sign -‐ off
“Contracting” translating business
questions into actionable,
analytical terms
“Delivering” expressing analysis
& insight in actionable business
terms
Addressing business need
Transparency of activity
Engagement with key stakeholders
linkedin.com/in/paullaughlin
+44 (0)7446 958061
Any questions?
customerinsightleader.com
laughlinconsultancy.com
@LaughlinPaul
© Laughlin Consultancy Ltd, not to be used without permission.