Join us for CMB's first webinars of 2012!
Tools and Techniques: Mixing the Science of Quant with the Art of Conversation to Gain Richer Insights
February 2nd from 12 to 12:30 pm
CMB’s Jeff McKenna and Christine Tchoumba from iModerate Research Technologies share their tips and tricks for taking advantage of one-on-one online conversations to gain more insight from traditional research projects. Jeff and Christine will cover: the benefits of using online conversations to add color to quantitative, how the Consumer Pulse Program case study uses conversation to deepen insight into the most interesting consumer trends, and the challenges and considerations you need to be successful.
Click here to register
Turning Customers into Advocates: GE CareCredit Increases Customer Loyalty with 
their Advisory Panel
February 16th from 12 to 12:45 pm
Learn how CMB helped GE CareCredit redesign their online customer panel, and create a community with high engagement and even higher returns. CMB’s Vice President of Financial Services Jim Garrity and GE CareCredit’s Consumer VOC Leader Sheila Dreyer share how GE CareCredit’s online community of Cardholders has become a group of not only trusted advisors, but strong advocates for the brand.
Click here to register
For more of our upcoming webinars, and to download the ones you've missed, click here.
Posted by Megan McManaman, CMB's Content Marketing Manager.
I started my career in sales. In sales, you very quickly learn that it is much easier to sell to an existing - rather than a new - customer. The fact that existing customers are valuable isn’t a tough concept to grasp. Customer loyalty researchers report that, on average, companies lose about 50% of their customers each year, that it costs 20x more to do business with a new than existing customer, and a minimal reduction in customer defection rates can significantly boost profits.
So, can someone please explain why so many companies are making headlines for initiating new fees or penalties that seem designed to aggravate their customers? I’m sure at least some of these stories caught your eye…
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In July, Netflix unbundled their DVD rental and streaming plan, effectively forcing customers to pay $6 more for the combo plan they had grown accustomed to. Then, in September, Netflix CEO announced that DVD rentals and streaming would become two totally separate services. The streaming service would retain the name "Netflix," while the DVD branch would be called "Qwikster." Reactions were predictably negative, and on October 10, before Qwikster had even launched, Netflix ended the failed experiment.
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Throughout the year, one after another of the major airlines (with the exception of Southwest and JetBlue) raised fees on checked baggage. Fliers hate baggage fees and the long lines at airport security screening are made worse by passengers carrying on more bags. The TSA estimates that the number of carry-on bags has increased by 87 million since 2009.
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On December 30th, after a customer ‘uproar,’ Verizon Wireless decided it will not institute a $2 convenience fee for online or telephone single payments, 24 hours after it was announced.
Even my favorite hotel company recently hit me with a $50 change fee for a mistake I made on the dates of a business trip. I was coming to the hotel for goodness sake – just not on those dates!!! Ugh.
I understand that companies need to make money; and changing regulations and technology can affect a corporation’s ability to deliver profit. But in the spirit of the Occupy movement, someone needs to be watching out for the customer!
From a recent CMB Consumer Pulse – 44% of respondents report feelings of loyalty to 10 or more companies they do business with – another third to 5-9 companies. In addition, we learned that two-thirds enjoy it when a company thanks them for their loyalty… and one-in three expects a company to thank them….boy they must be disappointed when instead of a thank you, they get hit with new fees and charges!
CMO.com recently listed the 10 things CEOs need from their CMOs …drumroll please… #3 on the list is A Customer Whisperer…someone who can tell them what customers in the future, will want. And #9 is A Customer Advocate… someone who can be the voice of the customer in the executive suite. Someone, who, in the face of pressure from finance or legal, will fight to ensure sufficient consideration is paid to the needs and interests of customers. Marketers should seek to uphold our own version of the Hippocratic oath: "first, do no harm to our customers."
So, what’s a brand manager or CMO to do?
The problem probably isn’t that you don’t have enough data-the problem, instead, may be that you have too much information! Or maybe the information isn’t being delivered to you in a way that makes it easy to find insights or support for your decisions. If you work for a company like most, a significant portion of your research budget is dedicated to a customer feedback, performance, or satisfaction program. Are you getting the return (in insight) you are making for the investment you’re making? Maybe it’s time to revitalize the program to enhance your role as customer whisperer and advocate!
Here’s what we believe you should be getting from your program:
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Direction for product/service investment decisions: If you had $20 million to spend, where should you invest? Where would you get the biggest bang for the buck? Upgrading something customers see as a “table-stake”…. Or enhancing a service that is a “customer delighter?”
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Identification of deal-breakers: What interactions/events/problems cause customers to run away to your competitors?
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Insight into the needs of key segments: How loyal are key segments (Next Gen customers, Gen X/Gen Y, repeat customers) to you? What percent of their wallet are you attracting?
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Direction for operations improvements: How well are you performing on the key drivers? How does that compare to what guests get from competitors? Which locations are excelling – and what is it that they are doing? Which locations are lagging – and what can they do better?
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Brand-operation alignment: How well does the customer experience match what you promise? (remember the ‘fly the friendly skies’ ad of a major carrier?) What’s causing disconnects?
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Competitive intelligence: Who/Where are you leading? Where are you lagging?
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The voice of the customer: Verbatim comments about what it’s like to buy from you.
While an effective CSM program won’t answer all the questions the organization might throw your way, our clients find themselves better prepared to advocate for their customers, support investment decisions of brand or line managers, focus on areas of importance to key customers-to provide insight to reduce risk around your business decisions. Customer performance measurement is a tool that you should have in your kit to help you engage and retain your customers. Maybe it’s time to "sharpen the tool!"
For more on getting the most from customer feedback, download our Consumer Pulse on Customer Satisfaction Programs
Posted by Judy Melanson. Judy leads the Travel & Entertainment practice and loves collaborating with clients on driving customer loyalty. She's the mom of two teens and the wife of an oyster farmer. Follow Judy on Twitter at @Judy_LC
Social media research is still behind social media marketing in terms of getting past the hype. Clearly there’s some overselling going on and more education is needed about how and when to effectively use social media data. Some sales folks even go as far as suggesting social media listening can replace market research as a way to save money – without having the background or unbiased perspective needed to make such a suggestion.
It’s time for researchers to have an open dialogue about social media data – warts and all. What biases exist? What steps are necessary to put the data in a truly usable form? What are the best applications for social media analysis? How can we best integrate it with other data sources? I’m not going to try and tackle all these questions in this blog, but hopefully I can help stimulate discussion over time.
To put things in perspective, one must consider that typically only a fraction of social media chatter is worthwhile and relevant to your specific objectives. Keep in mind that the topic of interest for your social media analysis has a huge impact on how many “sound bites” you have to work with. As you are pulling data, it can be a challenge to “disambiguate” (i.e., remove irrelevant chatter) and, in some instances, almost impossible. Another challenge is that social media data is largely unstructured. Automatic coding isn’t optimal – especially if you plan to integrate the results with other data sources.
Despite these challenges, there is no denying that it’s a valuable data source. Having the ability to learn from chatter that is occurring naturally online and applying state-of-the-art technology to aggregating and analyzing this data is powerful stuff. Social media analytic tools and text analytics are always evolving. But even with the best social media listening tools and analysts available, social media listening cannot and should not be applied across all situations. NO analytic tool or technique is a one-size-fits-all solution.
Let’s put social media analysis in perspective across all of the tools, techniques, and data sources we have to work with. Exciting things are on the horizon, but for now, let’s not expect (or promise) more than social media data can deliver.
Cathy is CMB’s social media research maven dedicated to an “eyes wide open” approach to social media research and its practical application and integration with other data sources. Follow her on Twitter at @VirtualMR
Check out our webinar Understanding B2B Social Media: An AMD Case Study and learn more about how Social Media Research is making a difference for our clients. Click here.
Seems like everywhere I turn I see a QR code. From product packaging to billboards in the airport, those funny little black and white designs are popping up all over—even on T shirts. So we set out to ask consumers what they think about the 2D bar codes known as Quick Response or QR codes in our latest Consumer Pulse: Scan Me-9 Things To Know about Consumer Behavior and QR codes.
There is no doubt it’s a very cool tool brands and companies can use to engage and share information with consumers, but even the coolest tools and applications need to provide meaningful information to be successful. Just like Twitter, Facebook and other social media marketing tools it always comes back to insightful content that consumers will value. The success of QR codes will depend on the content behind the scan.
What do consumers think? CMB partnered with iModerate Research Technologies to see why consumers scan QR codes and what they expect from the little black and white squares.
As a marketer here are a few facts that stood out to me. Watch This:
Nearly 1 in 5 who scanned a QR code made a purchase after scanning (Tweet this)
81% say they’ve seen a QR code, but only 21% knew what they were called (Tweet this)
Half of smartphone users have scanned a QR code (Tweet this)
70% of those who scanned QR codes, said it was very easy (Tweet this)
Results are mixed on QR codes' usefulness, 41% say the information they got was useful (Tweet this)
Magazines and newspapers are the most common QR source for those who’ve scanned a code (Tweet this)
46% of those who’ve scanned a QR code did so because they were curious (Tweet this)
We found smartphone owners and non-smartphone owners alike are curious about QR codes for information and for discounts, free gifts and exclusive deals, and they find the process of scanning to be really easy. But as more and more consumers get smartphones and the ability to scan, marketers must go beyond the novelty of the application if they expect customers to scan again and make it a regular part of the purchase process.
I’d love to know, are QR codes part of your 2012 marketing plan? Will QR codes gain steam in 2012 or fizzle out?
Download the full report here.
Posted by Kristen Garvey. Kristen is CMB's VP of Marketing, a mom of two, and thinks QR codes can be as useful as the content behind them, and that they will have their place in the marketing toolbox for 2012.
One of the great things about managing the Voices of CMB Blog is getting to hear perspectives on market research (and more) from CMBers at every level and across our company. The expertise, insightfulness, and creativity of our employees makes editing and reading this blog a real pleasure. And before we gear up to meet 2012, we thought we’d take a look back at just a few of our favorites:
Stephanie Kimball shares how creativity and technology create a great customer experience at Not Your Average Joes:
Not your average customer experience
Brant Cruz makes the connection between the Denver Broncos quarterback and segmentation: The Striking Similarities Between Tim Tebow and Strategic Segmentation
Sean Kearney ponders the impact of event sponsorship:
A Slam Dunk for Kia: Social Media Extends the ROI of Event Sponsorship
Judy Melanson looks at taking customer loyalty to the next level:
Customer Loyalty: Are you ready to tattoo your customer's name on YOUR arm?
Marty Murk discusses what happens when customer satisfaction surveys go terribly wrong: Tying Compensation to Customer Satisfaction – A Slippery Slope
Have a market research topic you’d like us to tackle in 2012? Tell us in the comments!
Posted by Megan McManaman, Megan is CMB's Content Marketing Manager. She gets most of her (non skiing and hockey) sporting insights from this blog.
Are you experienced, insightful, and creative? We're hiring, take a look at our Careers Page here.
The new year is a time for reflecting and looking forward to the next 12 months. And for businesses, as we enter the last weeks of 2011, it is critical that companies in all industries reflect upon the past year’s decisions and peer into the future.
There is little doubt that the economic strain of the past three years will continue to affect companies across industries. Yet, 2012 will hold both opportunities and challenges for market researchers. More than in the past, our clients will need the ability to manage, analyze, and integrate massive amounts of data while gleaning insight and recommendations within very constrained budgets.
Price sensitive clients will be asked to choose between mountains of data at low prices, or more targeted consultative approaches focused on insights, action and outcomes. To differentiate ourselves, research companies will need to create true partnerships that work to address the core needs of our clients. My prediction is not that 2012 will be an easy year, but that we as a company will continue to evolve and perfect practices that help our clients make sense and use of the data we collect.
We are urging our clients to read Drinking from the Fire Hose; authors Chris Frank and Paul Magnone effectively detail the issues related to having too much data and how effective companies and managers can ask the right questions to insure focus on their companies’ goals and decisions. Take the time to explore the “7 Questions” that they outline and revisit these questions throughout the year.
As with every year, 2012 will have its own set of challenges, but success lies in our ability to channel the lessons of the past year and make smart decisions for the coming year by asking the questions that count. At Chadwick Martin Bailey we believe more than ever, in the importance of being true partners with our clients, so together we can connect the data points and develop strategic insights that lead to better business decisions.
For more on Drinking From the Fire Hose, read Christine Gimber's take on our recent event with Chris and Paul here.
Posted by Anne Bailey Berman. Anne is the President of Chadwick Martin Bailey and enjoys volunteering in the community, traveling with her family and spending time in her vegetable garden.
One of the things I love most about working at CMB is the people I work with. They are some of the smartest, most fun loving, and dedicated people I have ever met. Not only are they passionate about their market research, but they are passionate about their personal lives as well. And our HR Manager Marlo is no exception.
Marlo Manning is our HR Manager by day and the founder of fairydogparents.org by night. Marlo started this non-profit in 2009 after losing her own dog. With that nagging feeling of wanting to do something to honor her dog, she started a non-profit to help people down on their luck still afford to keep their dog. Heart wrenching stories like one on NPR: Pets and Recession: Hard Times for Snoopy detail the agonizing decisions pet owner face when they run into financial hardship. Marlo took her passion for dogs, sadness for her own loss and made a difference. Take a look at this:
Visit msnbc.com for breaking news, world news, and news about the economy
One year later Marlo was on the Nightly News again with Brian Williams. The segment aired on Wednesday the 21st:
Visit msnbc.com for breaking news, world news, and news about the economy
We’re pretty proud of Marlo for turning her passion into action, for taking an idea and making it happen, but most of all for the difference she has made in the lives of so many.
Wondering what to get your dog for Christmas? My dog is getting a donation in her name to fairydogparents.org You can donate here.
Posted by Kristen Garvey. Kristen is CMB's VP of Marketing, a mom of two, well three including her 2 year old labradoodle Clementine.
Just as the news of Wegmans opening its first store in New England starts to settle, the excitement is ramping up all over again for a new “urban concept” store opening in Newton, MA. Since my husband first heard Wegmans was coming to MA he has been really looking forward to shopping there, I mean REALLY looking forward to shopping there. He even still has his shoppers club card from college (which was quite a few years ago I might add). And John is not alone in his love for Wegmans. I don’t think I have ever seen so many people so passionate about a grocery store. You could almost compare it to the opening of an Apple store in the retail space. In fact, the Boston Globe and Boston Herald wrote about the supersized crowds who lined up at the crack of dawn to the new Northborough store. As a marketer, it’s the kind of customer passion we all dream about.
Of course I had to go see for myself; and I do think it’s one of those things you need to experience to “get it.” As simple as it seems, it is a very pleasant shopping experience. I find myself slowing down there and dare I say even enjoying my shopping experience. From the gas fire place in the food court to their extremely helpful and friendly employees; Wegmans has the secret sauce in making their experience different:
Three key ingredients to Wegmans Secret Sauce
2 Cups of Engaged Employees: When I shopped in the new Northborough store it was hard not to notice how outgoing and friendly the staff was. It was clear to me Wegmans must invest a lot in making their employees happy. A happy and engaged employee makes such a huge impression. It was written on the smiles on their faces. When I was doing a little research for this post I was not surprised to find Wegmans has consistently won
CNN/Money’s Best Places work.
1 Cup of Senior Staff: Maybe this was because I was new, but I also noticed the store had a lot of senior staff ready to help if anyone (more junior employees or customers) had a question. They led by example by also being extremely friendly and asking me about my shopping experience.
1 Cup of a Great Shopping Experience: All of this contributes to an all-around better and more pleasant shopping experience. I admit I thought the customers waiting in line on opening day were a bit crazy, but after shopping there I can see what the fuss is about. I don’t think I will be waiting in line at the opening of the Newton store, but I would drive out of my way to shop there. For me it just feels better shopping there. The quality of their products, the cleanliness and brightness of the store and that food court of fresh prepared food is amazing, but above all I feel better shopping at a store where the employees enjoy working.
The funny thing is my Wegmans experience reminds me a lot of CMB. We know our clients have lots of choices of where to shop for their research and we truly appreciate when the choose us. Often after that experience it becomes clear that the experience of working with CMB makes us different. I think we share the same recipe for the “Secret Sauce.”
For more on the power of the customer experience and customer satisfaction, read T.J. Andre and Jeff McKenna's take on customer satisfaction in their article Not Very Satisfying in Quirks.
Posted by Kristen Garvey. Kristen is CMB's VP of Marketing, a mom of two and she will be heading to Wegmans to get her food and wine for the holidays. BTW if she’s not back by 5 you may find her by the gas fireplace enjoying a cup of coffee and a few minutes to decompress from the holiday rush.
Last week CMB hosted Chris Frank and Paul Magnone, authors of Drinking from the Fire Hose, at our Boston office and invited our local clients to join us. Chris, Vice President at American Express responsible for advertising, brand, and business-to-business research, and is a long-time CMB client. Paul added the internal client perspective to the discussion, having been a consumer of research at IBM for 21 years and now heading business development and alliances at Openet. As the book’s title implies, the conversation centered on how to sort through the massive amount of data we, as researchers, are confronted with to get to that moment of truth.
As it turns out, it is not about the information, but about asking the right questions. The book outlines seven “essential questions” that will keep you focused on only the information that you need. The first question is “What is the one vital piece of information needed to move forward?” That may sound obvious, but during the discussion we heard from many of our clients that identifying and focusing on what really matters isn’t easy. The challenge is to re-focus clients on the business decisions being made. As we heard from Chris, Paul, and our clients, this requires a major effort.
Focusing not only on why you need the information but what you are going to do with it is also key. One of my favorite stories of the evening was about an internal client who was faced with the question “If the results of this research dictate it, will you close the business unit?” He retorted that if research came up with that result, then they were talking to the wrong people. With no intention of closing the business unit, it was clear he was asking for answers to questions that were not actionable.
It was interesting to hear the authors talk about what we at CMB call a “business decision focus.” At CMB we spend a great deal of time helping our clients (and their internal clients) stay focused on the decisions that they are making with the story the data tells. It was exciting to hear how that simple focus can change the paradigm. It was a great event, and if you attended we hope you enjoyed it. If you were unable to attend, stay tuned, we’ll be posting more highlights and video of the event. And of course we recommend reading the book.
Posted by Christine Gimber. Christine is an Account Executive with the Financial Services and Healthcare teams, and loves great questions, essential or otherwise. When she is not at CMB, you can find her running or biking, which also helps keep her in shape as she tries to keep up with her three small kids.
This month, John and Megan discuss the perils of unprofessional language for market researchers.
MM: Over the past few months, more than any other topic, we have talked about language. Of all the issues to address, why is this one so important?
JM: I believe the absence of professional language among market researchers endangers both the credibility of our profession and the process of scientific inquiry. The so-called “true” professions law, medicine, and engineering each have a carefully defined and universally agreed upon set of unique terms that allow professionals to communicate accurately and provide them legal protection by avoiding miscommunication. The language of market researchers is often so casual and imprecise that it impacts the validity of the work we do, affecting the insight and value we can provide clients.
MM: Can you give examples of some common language issues in market research?
JM: There are two main types of language problems. The first is bad grammar, and that is not confined to market researchers or market research but is part of a larger threat to professional competence. For example, I often see incorrect use of tenses— findings “are” and what we did “was.” Then I see reports with “We used research for the decision” – that is incorrect, you used the “results” to support a decision. Often, there is confusion about the meaning of decisions, hypotheses, and “findings” versus “conclusions.”
Secondly, there is general laxity in the use of what little technical language we have. For example, “the two variables are correlated” – no, the conclusion is that they are related or associated; the correlation coefficient supports that conclusion. Then there is failure to recognize that the sample design (DATA SOURCE) and data collection (HOW) are different with distinct specifications that must be separated in reporting. Furthermore, there is poor use of critical concepts, especially declaring “randomness” and/or representativeness when the requirements are not all met. Finally, how often do you see the term “interview” incorrectly used to refer to internet data collection or a self-completion questionnaire?
Especially aggravating to me is misuse of the term “survey” epitomized in a report I received once that stated “we conducted a survey using a survey.” The term “survey” is widely used such as by engineers (land survey), librarians (literature survey), and auditors (resource survey). It has a broad meaning, usually about examining multiple points for a review, investigation, assessment or inquiry. However, in marketing research we must use more precise language: a product development study, a self-completion questionnaire, a telephone interview.
MM: What is the main consequence of poor language?
JM: Lack of precision opens the researcher to criticism, especially from competitors, makes him or her look incompetent, and legally vulnerable. Consider facing an expert in court where you testified a random sampling was used, yet all required specifications of this sample design were not met. How would you respond to a cross examination pointing out the shortcomings? Would you state that you didn’t know? Imagine if this was further compounded by the opposing lawyers submitting a document labeled “Questionnaire” that you referred to as a “survey,” claiming data collection was “internet interviews” when it was actually a self-completion questionnaire. The key issue is that an understanding of, and adherence to, a strict set of practices and guidelines lend credibility and consistency to what is basically a scientific process.
MM: Why does market research, in particular, face these issues? What can be done?
JM: To your first question, unlike the requirements for doctors, lawyers and engineers, there is no common education or certification from a professional body that is required to be identified as a “market researcher.” Although there are standard rules of ethics and behavior (e.g., AMA, CASRO), there is no overarching mechanism to ensure professionalism for concepts and language. Unlike law or medicine, many people enter the field without formal training. It is inconceivable to go to a lawyer who did not graduate from law school or a doctor who didn’t graduate from a reputable medical school. This issue is compounded when considering the hiring of research associates without any formal business training. So, you may hire a capable analyst who is good at math but without more formal training, they may not understand the nature of their new profession.
This brings me to the second part of your question. The starting point is to take greater care when employing people. Lack of training in marketing strategy and operations is a difficult deficit to overcome, and nearly impossible without training in research methods and statistics. In the marketing space there are associations and vehicles through which people can try to be more professional but at present, most education comes from the employer. It is now critical that the industry build the education and certification we need, until then it is up to all of us to seek individual improvement.
What do you think, is non-professional language a problem? What can be done?