Passion Backed by Facts
Tired as we all are of terms like “innovative”, “strategic” and “leading-edge”, such endless repetition is understandable — in the marketing lexicon there are only so many words and phrases available to describe the particulars of the business world.
Lately, I’ve noticed that I’m suffering market-speak fatigue with another word: “passion.” Apparently, every company on earth has a passion for what they do. Somewhere there must be a kitchen utensil company claiming they’re passionate about making shrimp deveiners.
Some of these claims are certainly genuine, but many companies are just trying to cloak their brand in a human emotion rather than admitting that every decision they make is driven by their bottom line.
According to a University of Scranton study, 45% of Americans usually make New Year’s resolutions.
ColemanWick is still busy with our resolution from last year: “We shall endeavor to create moderately entertaining content”. This isn’t super easy, since customer data isn’t exactly the sexiest of topics. In the checkout line you never see research studies selling next to the tabloids (even though “Inquiring minds want to know” pretty much sums up the psyche of a researcher).
We all know the age-old saying, “high risk, high reward.” Well, what if you could minimize that risk when making decisions for your business? By studying the past, present and future trends affecting your industry, customer analytics does just that.
To help your company become or remain successful, consider voice of customer research for these four reasons.
It’s not what you know, it’s how many departments know it.
The detrimental effects of a silo mentality have been well established. In fact, one study says that an astonishing 86% of employees and executives cite lack of collaboration or ineffective communication for workplace failures.
So, you know the problem is too complex and entrenched to be solved by workplace signs like “Teamwork is less me and more we”, or by having everyone participate in a “Which Animal Are You?” exercise.
The fact is, a silo mentality reduces overall productivity in tangible ways. It also hurts morale, which affects efficiency, and ultimately profitability, in many intangible ways.Read More
So, you want to make a case for a customer analytics budget. The (ideal) problem is, your company is growing rapidly, your product is being sold to the right people, and marketing efforts seem to be effective. In this case, your boss may ask, “Why do we need customer analytics?” which is a valid question. After all, why spend resources when things are going well? Well, here is why…