Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 37 views

    Better Customer Insight - in Real Time

    Uploaded by

    Saurav Kumar
    This document discusses traditional marketing tools like quantitative surveys, qualitative interviews, internet-based research and ethnographic research and their limitations. It then introduces Real-Time Experience Tracking (RET) as a new method that uses SMS to get instant feedback from customers about their experiences with a company across various touchpoints. RET aims to reduce biases and get a more holistic view of the customer journey. The document outlines the 4 phases of RET and discusses challenges in implementation as well as how data analysis can help identify key drivers, competitive touchpoints and chains of interactions that influence customer behavior. In conclusion, RET is seen as providing real-time insights that can immediately impact new launches and campaigns through continual co-creation with customers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Better Customer Insight - in Real Time

    Uploaded by

    Saurav Kumar
    37 views9 pages
    This document discusses traditional marketing tools like quantitative surveys, qualitative interviews, internet-based research and ethnographic research and their limitations. It then introduces Real-Time Experience Tracking (RET) as a new method that uses SMS to get instant feedback from customers about their experiences with a company across various touchpoints. RET aims to reduce biases and get a more holistic view of the customer journey. The document outlines the 4 phases of RET and discusses challenges in implementation as well as how data analysis can help identify key drivers, competitive touchpoints and chains of interactions that influence customer behavior. In conclusion, RET is seen as providing real-time insights that can immediately impact new launches and campaigns through continual co-creation with customers.

    Original Description:

    Marketing PPt

    Original Title

    BT Customer (1)

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document discusses traditional marketing tools like quantitative surveys, qualitative interviews, internet-based research and ethnographic research and their limitations. It then introduces Real-Time Experience Tracking (RET) as a new method that uses SMS to get instant feedback from customers about their experiences with a company across various touchpoints. RET aims to reduce biases and get a more holistic view of the customer journey. The document outlines the 4 phases of RET and discusses challenges in implementation as well as how data analysis can help identify key drivers, competitive touchpoints and chains of interactions that influence customer behavior. In conclusion, RET is seen as providing real-time insights that can immediately impact new launches and campaigns through continual co-creation with customers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    37 views9 pages

    Better Customer Insight - in Real Time

    Uploaded by

    Saurav Kumar
    This document discusses traditional marketing tools like quantitative surveys, qualitative interviews, internet-based research and ethnographic research and their limitations. It then introduces Real-Time Experience Tracking (RET) as a new method that uses SMS to get instant feedback from customers about their experiences with a company across various touchpoints. RET aims to reduce biases and get a more holistic view of the customer journey. The document outlines the 4 phases of RET and discusses challenges in implementation as well as how data analysis can help identify key drivers, competitive touchpoints and chains of interactions that influence customer behavior. In conclusion, RET is seen as providing real-time insights that can immediately impact new launches and campaigns through continual co-creation with customers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 9

    Better Customer Insight

    - in Real Time

    ALOK KATARIYA
    MS15A002

    CHIRAG JAIN

    REEMA JAIN
    MS15A044

    SAURAV KUMAR
    MS15A050

    V CHAITANYA

    MS15A014

    Traditional Marketing Tools

    Quantitative methods
    o

    Quantitative researchis about asking people for their opinions in a structured way so that you
    can produce hard facts and statistics to guide you.
    E.g. Customer Satisfaction Survey

    Qualitative methods
    o

    Qualitative marketing researchis amarketing researchmethod, which looking into the in-depth
    motivations behind consumer buying behavior or opinions.
    E.g. Focus Group and Interviews

    Internet based

    Ethnographic Research
    o

    Technique that allows companies to record complete range of customer experiences by


    shadowing individual consumers and watch their behavior.

    Disadvantages of Traditional tools

    Quantitative and Qualitative :


    o

    Relies on Customers Memories which decay rapidly.

    Consumers frequently recall company's communications inaccurately.

    Biased by Context, eg: in case of a major purchase

    Internet based :
    o

    Only for online interactions which is just 15% of customers encounters with companies and
    their brands.

    Ethnographic Research :
    o

    Labor Intensive and Expensive

    Misleading as its hard to untangle individual quirks from general customer behavior.

    Bias of an unconscious desire of pleasing the researcher, thus affecting ones reactions.

    Real-time experience tracking

    Developed by MESH Planning, a MR agency.

    SMS based real time tracking using mobiles.

    Supplies instant feedback from customers.

    Relatively unbiased response.

    Reduces surveys to just four questions.

    Was born of two insights:


    o

    A market researcher cant follow a person 24 hours a day, but a cell


    phone can.

    You only need to know four things about each encounter.

    Real Time Experience Design- 4


    Phases

    Challenges and Limitation of RET

    Ensuring balanced representative sample.

    Providing comprehensive list of touchpoints.

    Tracking location of touchpoints through a text message is difficult.

    Appropriate variation is necessary for varying sectors.

    Assessing the effect of an individual consumers media consumption


    without asking more questions is tough.

    Problem of touchpoints where texting is limited. Eg: Airlines.

    RET findings easier to implement in theory than practice; reaching,


    mobilizing and coordinating all relevant decision makers is a huge
    challenge.

    How Data helps ?

    Key Drivers
    o

    Applying simple regression to RET data can tell which touchpoints are most closely related
    to individual customer behaviors.

    E.g. Odds analysis

    Competitive analysis
    o

    Comparing touchpoints of company and its competitors.


    E.g. Touchpoint impact matrix

    Chain of touchpoints
    o

    Customers reactions shaped by previous interaction with the brand.

    Quality of purchasing experience will influence the likelihood that customer will buy or
    recommend it or not.

    Helps to know where the chains might be broken.

    Conclusion:

    Insights from RET can be acted upon immediately- great advantage in new
    launches and campaigns.

    RET enables companies to assess and respond in real time to customers


    reactions to products, services, it can play a central role in allowing
    customers to help design their own experiences with products.

    As RET and tools like it emerge, we expect that marketing will cease to be a
    game of stimulus- response and will evolve into a continual process of cocreation.

    Thank You !!

    You might also like