3 b tim bock
DESCRIPTION
Show me the smart money – increasing the productivity of market research(ers)Achieving significant cost savings, research-led revenue replacement and growth requires wholesale changes to the way companies buy, use and conduct market research. From insight generation to decision-focussed research: better briefing, prioritisation of research, accountability of research functions. From the Outhouse to in-house: self-managed panels, omnibus, automated reporting, hiring “experts”Satisfaction and preferences to customer value: CVA and choice modellingSurveys to integrated data: operational segmentation and calibrated performance metrics.TRANSCRIPT
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What happens if you cut 20% from a research project’s budget?
Client manage-
ment
Research design
Project manage-
mentInterviewing
fieldwork
Data anal-ysis
Charting/reportin
Strategy/insight
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Cancel studies
Operational metrics
DIY
Create value
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Cancel studies
Operational metrics
DIY
Create value
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The DB "Royale" double truffle burger
$120 (US)
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Briefing a successful study...
In writing:
• List the decisions to be made
OR
• List the behaviours to be changed
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Cancel studies
Operational metrics
DIY
Create value
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One question: “How likely is it that you would recommend this company to a friend or colleague?”
$Rest of SA
$National study
$By product/branch/call centre
$Track over time
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Call Centre 1Performance 90% 10% 0% 0%% × NPS 27 0.4 0 0 27.4
Call Centre 2Performance 70% 10% 10% 10%% × NPS 21 0.4 -1 -2.5 17.9
Estimated NPS
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Same basic idea can be applied to segmentation
• Measure “needs” in surveys
• Map these needs onto data– Customer records
• Demographics• Purchases
– Transaction records
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Cancel studies
Operational metrics
DIY
Create value
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DIY opportunities
Client manage-
ment
Research design
Project manage-
mentInterviewing
fieldwork
Data anal-ysis
Charting/reportin
Strategy/insight
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Omnibus •You write a few questions (with help)
Panel •You write a questionnaire, somebody else programs and hosts it
Assisted panels
•You write and program your surveys on your own panel (with help)
DIY •You do everything
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Cancel studies
Operational metrics
DIY
Create value
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GFC “opportunities”
• Sacking employees• Sacking customers• The new mindset
– Fear– Introspection– Bunkering– Localising
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Valuedisadvantage
Pric
e
Utility (Benefit provided to customer)
VEL
Valueadvantage
Value maps (CVA) and the Value Equivalence Line (VEL)
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$6.95
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REPORTING AND ANALYISIS Simulator
ATTRIBUTES Qantas United Airways Virgin Blue Singapore
Ownership
Seating
Price
Entertainment
Food
Check-in
Flights per day 10 10 10 10
MARKET SHARE
23.5% 27.4% 25.5% 23.5%
$200.00$80 (wait-listed)
GameboyTV
HotCold
Standarde-ticket
AustralianForeign
AustralianForeign
StandardExtra 10% legroom
StandardExtra 10% legroom
StandardExtra 10% legroom
$200.00$80 (wait-listed)
GameboyTV
Standarde-ticket
HotCold
$200.00$80 (wait-listed)
GameboyTV
HotCold
Standarde-ticket
$200.00$80 (wait-listed)
GameboyTV
HotCold
Standarde-ticket
AustralianForeign
AustralianForeign
StandardExtra 10% legroom
StandardExtra 10% legroom