modus - istrategy chicago
TRANSCRIPT
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