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  • Shifting consumer attitudes push car manufacturers the extra mile
    • 10/18/17
    • Automotive
    • Brand and Customer Experience
    • United Kingdom
    • English

    Shifting consumer attitudes push car manufacturers the extra mile

    Once upon a time, a car was the ultimate status symbol. But rather than being a sign of the ‘good life’, consumers today increasingly see cars as a functional object. In a recent survey, 40% of consumers told us that cars are merely a means of transport.

  • At TMRE, GfK will reveal generational differences in purchase journeys, technology use
    • 10/18/17
    • Retail
    • Technology
    • Brand and Customer Experience
    • Consumer Panels
    • Shopper
    • Trends and Forecasting
    • United States
    • English

    At TMRE, GfK will reveal generational differences in purchase journeys, technology use

    With new, younger consumers becoming the focus of marketing in almost every category, GfK will be providing breakthrough insights on these emerging generations at next week’s The Market Research Event (TMRE).

  • It's time to listen to the voice of the customer
    • 10/12/17
    • Brand and Customer Experience
    • United Kingdom
    • English

    It's time to listen to the voice of the customer

    Adding voice analytics to uncover the real feelings of your customers behind a non-rated answer, could turn your CX into a more customer-centric strategy.

    • 09/12/17
    • Brand and Customer Experience
    • Global
    • English

    3 basic mistakes that can ruin your customer experience survey

    The make-or-break for a customer experience survey is that it delivers a great experience in itself.  The customer has to be left feeling that their time spent in completing the survey is ultimately of direct benefit to themselves, not a wearisome sacrifice of time to benefit the company.

    I was recently sent a survey invitation asking me to give my feedback on a flight.  I decided to give it a go, but it turned out that the survey was longer than the flight (or at least that is how it felt).

    I do think it’s laudable that businesses ask for my feedback, but, while most surveys claim that the feedback will be ‘valued’, many survey experiences don’t make me feel valued. They fall into the three basic mistakes:

    • They are often far too long – compared to many people, I have a lot of motivation to complete surveys, but I sometimes give up due to the sheer length and, if I do make it to the end, I know that my last few answers to the endless grid style questions are pretty random.
    • Hygiene factors versus value-adds. I find the premise of some questions a bit odd – I understand that recommendation is a good thing for businesses, but I’m really not going to recommend my bank on the basis that I was able to withdraw my money easily, or it wasn’t a big effort to change a direct debit – some levels of service should be acknowledged as basic essentials, not value-adds.
    • Company-centric, not customer-centric. When I’m asked to give my comments, it’s often worded as wanting to find out why I gave a certain score (again mainly for recommendation). I might by cynical, but this makes me think that increasing the score is what matters to the company, rather than truly improving my experience. The survey questions must be worded from the customers’ viewpoint, encouraging them to give the information that matters to them, not just what matters to the company.

    It seems to me that for many businesses the customer survey has become just another management tool – to measure every single part of the customer journey with a ‘customer score’ – rather than a way to listen to the actual voice of the customer.  And it can’t be customer centric to get customers only to answer questions that the company wants to ask and, at the same time, dictate how they can answer (“please tick one box only”).

    What businesses need to capture are the experiences that are relevant and memorable to the customer, at the most appropriate point in time.  In order for feedback surveys to be both better experiences for the customer and ultimately more useful to the company, businesses need to be much smarter about what they ask, how they get more from less and how they connect the customer feedback to the other data they have in their business and across teams.

    4 tips for better customer experience surveys

    • If you need a score, then make the question relevant to the experience. Don’t use recommendation everywhere just because it makes your life easier to have consistency. Perhaps the customer just wants to feel happy?
    • Ask customers to describe their experience in their words – what a customer chooses to tell you is what is you need to know, because what is memorable will drive their future behaviour.
    • Let technology take the strain. Use text and voice analytics to understand not just what customers say, but also how they say it. This uncovers the root cause of their problems and the actions you need take.
    • Get everyone involved in understanding the results. Finding solutions to customer pain points shouldn’t be the sole responsibility of customer services.

    Summary

    Customer feedback needs to be treated as an energy source: it will be renewable and powerful, so long as you respect customers’ time and intelligence, design your questionnaire to be honestly customer-centric and use the results to build better experiences.

    For more information, please contact John Banerji at john.banerji@gfk.com.

     

     

     

     

     

     

     

     

     

     

     

     

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    • 09/12/17
    • Brand and Customer Experience
    • South Africa
    • English

    3 basic mistakes that can ruin your customer experience survey

    The make-or-break for a customer experience survey is that it delivers a great experience in itself.  The customer has to be left feeling that their time spent in completing the survey is ultimately of direct benefit to themselves, not a wearisome sacrifice of time to benefit the company.

    I was recently sent a survey invitation asking me to give my feedback on a flight.  I decided to give it a go, but it turned out that the survey was longer than the flight (or at least that is how it felt).

    I do think it’s laudable that businesses ask for my feedback, but, while most surveys claim that the feedback will be ‘valued’, many survey experiences don’t make me feel valued. They fall into the three basic mistakes:

    • They are often far too long – compared to many people, I have a lot of motivation to complete surveys, but I sometimes give up due to the sheer length and, if I do make it to the end, I know that my last few answers to the endless grid style questions are pretty random.
    • Hygiene factors versus value-adds. I find the premise of some questions a bit odd – I understand that recommendation is a good thing for businesses, but I’m really not going to recommend my bank on the basis that I was able to withdraw my money easily, or it wasn’t a big effort to change a direct debit – some levels of service should be acknowledged as basic essentials, not value-adds.
    • Company-centric, not customer-centric. When I’m asked to give my comments, it’s often worded as wanting to find out why I gave a certain score (again mainly for recommendation). I might by cynical, but this makes me think that increasing the score is what matters to the company, rather than truly improving my experience. The survey questions must be worded from the customers’ viewpoint, encouraging them to give the information that matters to them, not just what matters to the company.

    It seems to me that for many businesses the customer survey has become just another management tool – to measure every single part of the customer journey with a ‘customer score’ – rather than a way to listen to the actual voice of the customer.  And it can’t be customer centric to get customers only to answer questions that the company wants to ask and, at the same time, dictate how they can answer (“please tick one box only”).

    What businesses need to capture are the experiences that are relevant and memorable to the customer, at the most appropriate point in time.  In order for feedback surveys to be both better experiences for the customer and ultimately more useful to the company, businesses need to be much smarter about what they ask, how they get more from less and how they connect the customer feedback to the other data they have in their business and across teams.

    4 tips for better customer experience surveys

    • If you need a score, then make the question relevant to the experience. Don’t use recommendation everywhere just because it makes your life easier to have consistency. Perhaps the customer just wants to feel happy?
    • Ask customers to describe their experience in their words – what a customer chooses to tell you is what is you need to know, because what is memorable will drive their future behaviour.
    • Let technology take the strain. Use text and voice analytics to understand not just what customers say, but also how they say it. This uncovers the root cause of their problems and the actions you need take.
    • Get everyone involved in understanding the results. Finding solutions to customer pain points shouldn’t be the sole responsibility of customer services.

    Summary

    Customer feedback needs to be treated as an energy source: it will be renewable and powerful, so long as you respect customers’ time and intelligence, design your questionnaire to be honestly customer-centric and use the results to build better experiences.

    For more information, please contact John Banerji at john.banerji@gfk.com.

     

     

     

     

     

     

     

     

     

     

     

     

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  • Consumer insights competition focuses on Now Generation, purchase journeys
    • 09/07/17
    • Fashion and Lifestyle
    • Financial Services
    • Retail
    • Technology
    • Consumer Goods
    • Brand and Customer Experience
    • Market Opportunities and Innovation
    • Point of Sales Tracking
    • Shopper
    • User Experience (UX)
    • United States
    • English

    Consumer insights competition focuses on Now Generation, purchase journeys

    In its sixth annual Next Generation (“NextGen”) Competition for undergraduates, GfK in North America is urging students to explore such key marketing topics as purchase journeys, teen and young adult consumers (the Now Generation), and “future-proof” innovations.

  • Consumer insights competition focuses on Now Generation, purchase journeys
    • 09/07/17
    • Fashion and Lifestyle
    • Financial Services
    • Retail
    • Technology
    • Consumer Goods
    • Brand and Customer Experience
    • Market Opportunities and Innovation
    • Point of Sales Tracking
    • Shopper
    • User Experience (UX)
    • Canada
    • English

    Consumer insights competition focuses on Now Generation, purchase journeys

    In its sixth annual Next Generation (“NextGen”) Competition for undergraduates, GfK in North America is urging students to explore such key marketing topics as purchase journeys, teen and young adult consumers (the Now Generation), and “future-proof” innovations.

    • 08/04/17
    • Brand and Customer Experience
    • Global
    • English

    3 things to stop doing if you want to grow your brand

    Brands are wild and unpredictable, like animals.  If you want to study them, you need to let the zoo gates open, leave them to run free and let the spy cams do the rest.

    This may sound like an unnerving statement for an analytics industry dominated by control and quantification of brand KPIs.  However, if you really love something, you need to set it free – and this couldn’t be more true for brands.

    The way we study brands today is sometimes akin to determining the hunting pattern of Killer Whales by watching them catch fish out of a bucket.  It is set up all wrong from the start.

    Our understanding of brands has come a long way, as have the tools we use.  My three pieces of advice on what to do differently to grow your brand are these:

    1. Stop simply measuring your brand, start understanding it.

    Brands are almost as complex as people, which is why we relate to them like we do with our social circle: we need to get to know our friends before we trust them with our money.  We need to have common interests.  We need them to make us feel special.  However, rating all our friends using the same measuring stick is impossible, right, because each different type of friend needs to be measured against different criteria.

    For brands, customer funnels and sales figures can give a good measure of the financial “fundamentals” of the brand – but they do not tell us what has worked well to get to that point and, therefore, what to do more of.  Research programs focused on brand identity, used in parallel with trackers, are an investment into the future of your brand, not just for the next 6 months, but the next few decades.

    2. Stop comparing your brand to others. Embrace it for what it is.

    We send our kids to school hoping they will all excel in math equally, but we soon find out that each child is so unique that they have to be judged on their own merits.  Although the child’s standard performance report card is indicative, it by no means reflects the full potential and true talents of a pupil.

    For brands, developing this potential requires really understanding the product, the target customer, and the vision of the brand: “what it wants to be when it grows up” – in other words, its “soul”.  Brands, like pupils, tend to thrive when asked to perform in the subjects where they excel and differentiate.  Finding these strengths enables a company to focus its energy on those aspects of its brand that are more profitable in the long run, rather than right here, right now.

    3. Stop controlling everything. Let your customers shape your brand.

    It sounds counter-intuitive, but it is really about grassroots.  Whether you have worked on it consciously or not, you already have a brand out there.  The first step to improving that brand is understanding the two or three things consumers remember about your brand.

    Whether you like these perceptions or not, they are already out there and you need to work with that reality, rather than try to become someone else.  Build on the best parts of your image and minimize the negatives.  This sounds obvious, but most brands today still lack a program that lets them truly listen to their customers.

    For a brand manager trying to sort through a clutter of often conflicting data, what this means is taking a simple, yet bold approach to brand: focusing on the stripped-down, core premise of what the brand was founded upon and re-evaluating whether it still delivers, while being open to facing some harsh truths about whether the proposition really resonates with the current market/customer.

    Conclusion

    There is plenty of scope for brands nowadays to benefit from tools that are breaking down the customer/brand barrier. These monitor customer behavior unobtrusively through implicit methods such as passive measurement, and enable the collection of large sets full of customer insight that can be analyzed via advanced Artificial Intelligence and text analytics.  This can provide a moving picture of brand identity, which can guide decisions at both tactical and strategic levels.

    George Tsakraklides is a Research Director at GfK. To share your thoughts, please email george.tsakraklides@gfk.com or leave a comment below.

     

     

     

     

     

     

     

     

     

     

     

     

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  • GfK to share new research on banking, artificial intelligence at In|Vest conference
    • 07/07/17
    • Financial Services
    • Technology
    • Brand and Customer Experience
    • United States
    • English

    GfK to share new research on banking, artificial intelligence at In|Vest conference

    In a presentation tomorrow, GfK will share results from a new study on consumers’ views of banking “chatbots” and other AI applications.    

  • Trust in US political parties drops significantly in GfK Verein study
    • 07/05/17
    • Financial Services
    • Retail
    • Technology
    • Brand and Customer Experience
    • Trust in Professions 2016
    • United States
    • English

    Trust in US political parties drops significantly in GfK Verein study

    A GfK Verein study finds trust in economic and political institutions among US consumers is down significantly compared to two years ago.

  • Why the smartest thing about your brand is your consumer
    • 06/19/17
    • Fashion and Lifestyle
    • Retail
    • Technology
    • Consumer Goods
    • FMCG
    • Brand and Customer Experience
    • Market Opportunities and Innovation
    • United Kingdom
    • English

    Why the smartest thing about your brand is your consumer

    One of the challenges when identifying opportunities for innovation is that consumers don't always recognise what they need. Steve Jobs famously said that the IPod would have not been developed if Apple had simply asked what people wanted. The innovations that succeed are those which disrupt consumer behaviour by providing a product or service that improves what is currently done today.

  • Targeting - Who Are We Innovating For?
    • 06/18/17
    • Fashion and Lifestyle
    • Retail
    • Technology
    • Consumer Goods
    • FMCG
    • Home and Living
    • Brand and Customer Experience
    • Market Opportunities and Innovation
    • United Kingdom
    • English

    Targeting - Who Are We Innovating For?

    Why do three out of four new product launches fail to achieve their potential? One area that is of paramount importance is to truly understand the target customer. Who is this product for? What are their unmet needs? And what will make them hand over their hard-earned cash? Read on to discover more.

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