3 B Tim Bock
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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 of 3 B Tim Bock
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
Cancel studies
Operational metrics
DIY
Create value
Cancel studies
Operational metrics
DIY
Create value
The DB "Royale" double truffle burger
$120 (US)
Briefing a successful study...
In writing:
• List the decisions to be made
OR
• List the behaviours to be changed
Cancel studies
Operational metrics
DIY
Create value
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
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
Same basic idea can be applied to segmentation
• Measure “needs” in surveys
• Map these needs onto data– Customer records
• Demographics• Purchases
– Transaction records
Cancel studies
Operational metrics
DIY
Create value
DIY opportunities
Client manage-
ment
Research design
Project manage-
mentInterviewing
fieldwork
Data anal-ysis
Charting/reportin
Strategy/insight
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
Cancel studies
Operational metrics
DIY
Create value
GFC “opportunities”
• Sacking employees• Sacking customers• The new mindset
– Fear– Introspection– Bunkering– Localising
Valuedisadvantage
Pric
e
Utility (Benefit provided to customer)
VEL
Valueadvantage
Value maps (CVA) and the Value Equivalence Line (VEL)
$6.95
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
