modus - istrategy chicago

Whoever knows their customers best

WINSmodus associatesDIGITAL STRATEGY + DESIGN

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1. Why?2. How?3. Workshop

Innovation is hard.Let your customers help.

Graham EricksenPrincipal, Director of Strategy & Innovation

Kristen KulenychCo-founder, Chief Experience Officer

Scott McDonaldCo-founder, Managing Director

modus associatesDIGITAL STRATEGY + DESIGN

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Why we’re hereWhere should you place your bets in a world where everything is changing and anything seems possible?

“Nice, but as long as there are readers there will be scrolls.”

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Today’s takeawayA practical framework you can use today to improve profitability and better serve your customers online

i.e., To place the right bets.

Innovating with customers:

Why?

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Customer focus is in vogue...

BOOKS

ARTICLES

ROLES ASSOCIATIONS

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“Of course it’s about our customers.”

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The business consultancy Bain & Company surveyed hundreds of companies that felt they delivered superior customer experiences.

100s surveyed

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But in reality, only 8% of those companies’ customers agreed that the experience was superior.

only 8% agree

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“For every $80 companies spend driving traffic to their websites, only $1 is spent converting that traffic into customers.”

only $1of $80

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What’s at stake...

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“A three-year study of more than 40 Fortune 500 companies by research firm Peer Insight found companies focused on customer experience design outperformed the S&P 500 by a 10-to-1 margin.”

10-to-1 margin

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Customer-Centric Firms Are Leaders

Innovating with customers:

How?

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Keys to getting a complete picture:1. Variety of sources2. What customers SAY and DO

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What they DOSome tools and techniques:+ Ethnographic research+ User testing of your sites & products+ Web traffic analysis+ Industry / Third-party research+ Competitive & best practices benchmarking

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What they SAYSome tools and techniques:+ Customer interviews & focus groups+ Surveys and questionnaires+ Feedback forms+ Customer service logs+ Social media monitoring

Participatory Case Study

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Imagine if you will…

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Imagine if you will…

Business Mandate:

Book more rooms online

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Insights:+ Key competitor launches

customer reviews on their website

+ Another offers upload and share your trip photos

Competitor

Review

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Insight:+ Travelers don’t trust

the reviews on hotel websites. They prefer third-party sites like TripAdvisor.

Industry Research

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Insight:+ Users overwhelmingly

rejected the “upload photos and stories” idea

User Testing

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Insights:+ Deals & discounts most

popular section

+ 40% of searches are returning no results

Traffic Analysis

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Insights:Why people are calling:

1. Website was confusing

2. Thought they would get a better deal by phone

Customer Service Logs

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Insights:+ Most site visitors believe

aggregators have the best pricing.

+ 67% were unaware of best rate guarantee.

+ 37% never heard of Loyalty Program.

Customer Surveys

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Insights:Desired information:+ Price+ Deals and discounts+ Destination information

Customer Interviews

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The difference between knowing & guessing

Entry PageBounce

7%

Email NewsletterSign-up

88%

Rewards ProgramSign-up

92%Yearly SiteRevenue

11%

Special OffersRevenue

68%

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Customer Interviews

Customer Surveys

Customer Service LogsTraffic

Analysis

User Testing

Industry Research

Competitor

Review

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Traffic Analysis

User Testing

Industry Research

Competitor

Review

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Industry Research

Competitor

Review

Could it really be this straightforward?

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Why not?“We don’t have time…

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Why not?“We don’t have time to be successful.”

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Make the time to be successful.

Whoever knows their customers best

WINS

+ For more information visit modusassociates.com

+ Continue the conversation at linkedin.com/iStrategy

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Hertz images

Rhetoric v. Reality