Your DNA to Business Success
Just as every living organism has a DNA that determines its characteristics and growth, every business has a code of requirements and methods for achieving revenue, profitability and growth. A business DNA should focus on customers, who are the lifeblood of every successful business. The result is higher levels of success and profitability even in the most competitive markets.
DNA = Discovering Needs Analyses
To determine this success code for business, we use a process called DNA, which translates to Discovering Needs Analysis. Our DNA examines customer segments, and multiple sub-segments, through research and data analytics. Our DNA especially focuses on customer and prospect experiences at key moments in the customer decision journey.
Unlocking Business DNA
To unlock the secret DNA coded within each sector/vertical/customer and their respective customer experience journey loop requires close examination and analysis.
Let’s look at the Consumer Electronics sector, specifically mobile phones, which are purchased through: Brand Stores, Brand Sites, Brick and Mortar Retailers, E-tailers, and various third party sites for refurbished products. In our DNA process, we document consumers’ experience in the search, purchase, and use of the mobile in real time through social media platforms.
De-Coder Keys that are uncovered in the DNA process:
Identifying and mapping touch-points from the ZMOT (Zero Moment of Truth) where the customer is starts browsing - in most cases online scouring deals by brand and desired features - to the FMOT (First Moment of Truth), where the customer connects with their chosen brand and device, and carried all the way through the LMOT (Last Moment of Truth) where the customer completes the purchase and then closing the loop with PPX (Post Purchase Experience) where the customer is engaging with and telling others about the brand.
Understanding and dissecting customer pathways for:
a. “Aha Moments” and Pain Points, which trigger consumer attitudes and behavior. For mobile phones these critical moments could be when a consumer starts to scout for a new mobile or the moment they chose to add it to a shopping cart. All these various touch-points factor in what they liked and/or disliked along their purchase journey for a new phone.. A perfect experience with a rebate coupon or added discount for an accessory purchase or music downloads creates and “Aha” while a dented package definitely is a dis-satisfier!
b. Enablers which determine the quality and relevance of consumers’ experience. For example, is the phone company’s website built by region to accommodate for multiple languages. Does it cater to different generations from baby boomers to Millennials and reflect their interests ranging from price and functionality to “cool” airpods or snazzy covers?
c. Energizers, representing key events such as “Back to School” to Holiday sales that can help boost mobile sales to having the appropriate ambassador, say the latest MVP from this year’s Super Bowl marketing the newest model that would “up” the appeal factor for the mobile phone.
d. Competitors, and disruptors and their associated impact on key touch-point and moments, a highly competitive global market, crafting the mobile purchase journey map from a holistic view to understand how various brands, retailer experience stack up and incorporating key disruptors such as a September Apple launch to need for better photo quality
Unleashing the power of data by separating the signals from the noise generated by Crowd and Social Intelligence platforms, Discovery Interviews, Voice of the Customers, and qualitative and quantitative research generated Big Data. WOM: Word of Mouth no longer involves physically “speaking”, talking the talk has been taken over by social media and the mobile phone market has a strong real time presence in terms of likes, dislikes, needs, by brand, region etc.
Separating the signals from all the noise generated by social media coupled with Big Data insights generated for the mobile markets becomes the deal breaker to win with customer experience
What is the end result of the DNA?
Using the decoders mentioned above, we craft a DNA and Brand Builder strategy, which includes a custom fit infinity loop customer journey map for key customer segments.
Then we measure Customer Experience by incorporating indices (such as CES- Customer Effort Score) to measure impact on key areas of business, which in turn helps assess net returns (and gains/losses) on investments, including:
1. Brand Equity
2. Optimizing Resources:
3. Multicultural/Multi-Sector Reach
At the end of the day, it’s still “Show Me The Money!!!”
A Business DNA will help you generate profitable revenue and maximize Return on Investment (ROI). To learn more about your company’s DNA or our proprietary processes, please contact me at email@example.com