davidpoulos.com

Tag: Technology

  • Battle For The Bucks: Big Data VS. Good Data

    Battle For The Bucks: Big Data VS. Good Data

    With marketers, retailers and web pundits delving into the topic of Big Data, studying their Google Analytics report like it’s the Zapruder film and studying up on their compiler language, how does all that information translate into creating products that people love and that fly off the shelves?

    I contend that there are two elements of this, one is Big Data, which shows you a tranactionally-based road map of what’s popular, what people like, what they prefer given an unlimited number of choices, and can show you how people’s purchase decision gets made; and Good Data, which is gained through other means than digital, but has a digital internet component, and can show you WHY people prefer one thing over another, WHY they gravitate to certain elements or items, WHAT MAKES things popular, WHAT their needs might be in their daily lives BEFORE its been created and marketed.

    The two are different and both are extremely useful in putting together a cogent innovation program that can generate the new things we all crave and to marketing them effectively and making them popular and successful. One is only “better” than the other under specific constraints and circumstances. I tend to use both depending upon the project, Good data being the best and most useful to drive new product or service innovation, and Big Data the most useful for gathering and testing theorems and intelligence on applications and market positioning for the product once it’s been developed.

    True innovation is a brand new, never been seen before element, and therefore Big Data will not be able to provide you with any comparative data because there’s nothing to compare it to. I doubt the folks at Apple tried to sift through transactional data to see if anyone wanted an MP3 player the size of a lighter with a thumb wheel selector, but if you had asked individuals (primary insight research, Good Data), how they listened to music, where they listened to music most often, and how they WANTED to be able to listen to music (while running, exercising, swimming, in the car,), and why they couldn’t do those things with the current gear, those answers might have lead you to create the iPod.

    The wealth of Big Data spawned by tracked internet traffic, and the dearth of Good Data based on ineffective feedback loops, automated CS phone trees and do-it-yourself web-based customer service devices have isolated the bigger more established brands, those with a solid customer base, and a culture often lacking in specific innovation paths beyond incremental improvements f the current product line. That isolation will likely have a dampening effect on those firm’s ability to innovate over the next several years and beyond, if internal structural changes to the organization are not made and a comprehensive, skin-thin customer facing transparency established so that consumer input can be distilled into actionable intelligence quickly and efficiently.

    Those firms without an effective “Data Loop” to constantly feed the development teams a source of Good Data will slowly stagnate and become copy-cat innovators, while those closest to their own customers will clear a path to new product development that is facile, smooth and relevant on an ongoing basis, fostering innovation in search of customer happiness. Expensive? Not really, when considered against the cost of lost customer base, eroding market share, lack of attention to pirated technology due to inattention to customer need, defense of intellectual property infringement and a host of other ills facing a stagnant brand.

    If you think like I do, and want to help your company become a place that fosters innovation, comment below, or contact me via e-mail at dpoulos@granite-part.com or on LinkedIn.

  • Empowered Customers: A Direct Result of Technology Adoption?

    Empowered Customers: A Direct Result of Technology Adoption?

    This was so good I couldn’t resist re-posting it, courtesy of Sourcelink

    Rich Brown, Oct 02, 2012

    Enlightened marketers are now referencing the “Age of The Customer”, which is defined by consumers holding all the advantages as they have real-time information about pricing, product features and competitors.  The “Age of The Customer” has promoted the everyday consumer to the role of an empowered customer where not only consumer shopping behavior has changed, but also the way we market to these consumers.  Empowerment, as a direct result of technology adoption, has given a single individual, your customer, the power to choose how, when, and what they desire in terms of marketing.

    • How – In which channels does the empowered customer choose to be reached? Email, Social Media, Telephone, Direct Mail, or all of the above?
    • When – How often does the empowered customer choose to be reached specifically related to the cadence and frequency of marketing messages?  One email per day vs. one per week or one SMS text message per day vs. one per week?
    • What – What type of marketing content does the empowered customer choose to receive? Plain text vs. HTML emails, a printed catalog vs. a dynamic online catalog, printed coupons vs. electronic coupons vs. emailed coupons vs. location-based coupons?

    While customers have always had choices, it’s never been a more powerful time for the average consumer.  The Internet has been around for many years now and personal computers have long been a common household staple for most families.  Avenues for customer empowerment have existed for decades since the first online bulletin boards and online chat started to take a grip on our modern computing society.  What has specifically evolved us into to the “Age of The Customer” is hands down widespread technology adoption.  Without the proliferation of both the Internet and advanced hand-held, always-connected, technology devices such as smartphones and tablets into the hands of nearly every consumer, there would never have been this massive shift of empowerment toward the consumer.

    Today we take it for granted that we’re able to sit in front of a computer or better yet, pick up our latest and greatest smartphone or tablet and quickly do just about anything we need.  All in the palm of our hands, the empowered consumer can search for a specific product, find retailers who carry that product, research those retailers and their reputation, conduct a price comparison, read product reviews from other consumers and ask specific questions about that product, and finally buy that product. Customers are no longer blinded by false or improper product claims and misleading marketing because they have a global community in which to converse. They can research and determine if a company is not only reputable but also if their product claims are true and if they do right by their customers in the event of a problem.

    Additionally, as a direct result of technology adoption, a single consumer, with the power of a mobile device paired with the Internet and the long reach of various social media networks such as Facebook, Twitter, Yelp, YouTube or Google+ for example, now has the ability to create a collective opinion or voice, which rivals even the reach and voice of most commercial organizations and governments.

    Customers are indeed empowered and learning to use this power to not only buy exactly what they want, but to force companies, who want their business, to become “customer obsessed” and create an engagement strategy to help build relevant, timely and valuable customer interactions. Continued technology adoption will continue to make the empowered customer the new ‘norm’ and drive marketers to find new and innovative ways of customer interaction.

    If you found this insightful or helpful, and would like to read more, subscribe to this blog today! Don’t forget to pick up your copy of “The Marketing Doctor’s Survival Notes”

     

  • Five Things About Branding We Can Learn from Geek Squad

    Five Things About Branding We Can Learn from Geek Squad

    I’m always in search of particularly effective branding efforts, just to enjoy a job well-done. Knowing how hard it is to carry out brand development on a daily basis, and how important the initial thinking is in springboarding the brand forward, I’m always looking for those that put in the effort up front and got it right.

    This week’s winner is Geek Squad, the computer service firm that operates out of Best Buy stores. These guys thought about EVERYTHING, and live the brand every day. I’ve had the opportunity to try these guys out several times in the last year, and they are nothing if not consistent.

    Each technician is called an “Officer”, and they always come in full uniform, including a badge and ID card, and arrive in a branded car, usually a white Volkswagon Beetle with black fenders and the logo on the doors – further reinforcing the quasi-police image. Their delivery is rather police-like, definitely gentle, but no-nonsense, they are extremely respectful of the customer’s home and work-space, touching as little as possible, asking few questions that are not directly related to the job at hand, and get right to work. They solve the problem or make a recommendation to repair at more extensive facilities or replace the machine, they come armed with a full bevy of software diagnostic tools, all branded, and get the job done, transact payment, and disappear to the next jobsite.

    There was so little variation in my three experiences it was spooky, like I said, these guys are consistent. Given the labor pool from which the company draws for this position and the human factors that have to be accommodated in any national company, I’m still astounded how well they carry the brand. I know when I see those little cars on the road, that they’re on their way to help some other poor computer-illiterate victim of Microsoft, and the feeling associated with the brand is always extremely positive.

    They set out with a good idea, they went full tilt toward fleshing it out, and they train the employees to clearly live and transmit the brand effectively with EVERY interaction. That’s why they’re this week’s EFFECTIVE BRANDING AWARD winner. Write to me about effective brands you’ve seen, and I’ll share them . . .

    If you found this interesting or insightful and would like to read more, subscribe tot his blog above, and don’t forget to pick up your copy of “The Marketing Doctor’s Survival Notes“