A Comprehensive Research Approach To Customer Understanding. Anjali Lai,

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2 A Comprehensive Research Approach To Customer Understanding Anjali Lai, July 15, 2015

3 Truly valuable social sentiment analysis is not about the sophistication of the data mining tool or methodology Forrester Research, Inc. Reproduction Prohibited 3

4 Challenge #1: Matching social listening data to demographics, custom segments, or customer lists is unreliable 2015 Forrester Research, Inc. Reproduction Prohibited 4

5 Challenge #2: Social sentiment data is primarily tracked through quantitative metrics that don t explain why 2015 Forrester Research, Inc. Reproduction Prohibited 5

6 Challenge #3: Social sentiment data is often regarded as noise, not actionable insight 2015 Forrester Research, Inc. Reproduction Prohibited 6

7 These challenges imply three major gaps: Social Sentiment Quantitative Insight Raw Data Identifiable Information Qualitative Insight Actionable Strategy 2015 Forrester Research, Inc. Reproduction Prohibited 7

8 A multimethod research approach fills in the gaps: Social Sentiment Quantitative Insight Raw Data Behavioral/ Survey Data MROC Engagements Analysis and Dashboards Identifiable Information Qualitative Insight Actionable Strategy 2015 Forrester Research, Inc. Reproduction Prohibited 8

9 Forrester s Technographics 360 Technographics Survey Data Who are they? What do they say they do? Technographics Behavioral Data What, where, and when are they doing things? Technographics MROC Data Why are they doing it? Why are they saying it? Technographics Social Listening Data What are they talking about? How are they talking about it? 2015 Forrester Research, Inc. Reproduction Prohibited 9

10 Examples: Technographics 360 Profiles 2015 Forrester Research, Inc. Reproduction Prohibited 10

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14 Key Insights! Consumers who say health is a priority for them tend to be techforward they spend time on their mobile phones and tablets for communication, entertainment, and health-management purposes.! These individuals access health and wellness mobile apps while simultaneously using social networking and apps, particularly during weekdays! These consumers are motivated to participate actively in online conversation around food and recipes, events and holidays, and outdoor activities.! Fundamentally, consumers commitment to wellness stems from a deep-seated need for self-improvement, both physically (as reflected in their attention to fashion trends and aesthetic beauty) and mentally (as reflected in their heightened sense of negativity regarding illness and personal regrets) Forrester Research, Inc. Reproduction Prohibited 14

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16 Key Insights! Discover Card customers are digitally active, both when connecting with others and when managing their finances.! Mobile financial behaviors hardly vary between weekdays and weekends, but individuals reach for tablets more frequently on weekend afternoons.! Discover customers are motivated by challenges and accomplishments they associate closely with sports teams and are deeply affected by wins and losses, and they seek out rewards where possible.! This motivation is fueled by a need to be active and in control. Consumers live vicariously through athletes or sports teams, highly value the sensation of victory, and lament events that fall outside their control Forrester Research, Inc. Reproduction Prohibited 16

17 Implications 2015 Forrester Research, Inc. Reproduction Prohibited 17

18 1. A multimethod analysis changes the focus away from the tools and methodologies, and considers the business problem 2015 Forrester Research, Inc. Reproduction Prohibited 18

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20 2. This analysis drives value across multiple business functions beyond the marketing teams 2015 Forrester Research, Inc. Reproduction Prohibited 20

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22 3. This analysis rounds out comprehensive customer understanding that is exhaustive and minimizes bias 2015 Forrester Research, Inc. Reproduction Prohibited 22

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24 Machines do analytics. Humans do analysis Forrester Research, Inc. Reproduction Prohibited 24

25 Questions? 2015 Forrester Research, Inc. Reproduction Prohibited 25

26 Thank you Anjali Lai +1 forrester.com